WallStSmart

Merchants Bancorp (MBIN)vsU.S. Bancorp (USB)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

U.S. Bancorp generates 4221% more annual revenue ($27.32B vs $632.34M). MBIN leads profitability with a 42.5% profit margin vs 29.9%. MBIN trades at a lower P/E of 10.7x. USB earns a higher WallStSmart Score of 77/100 (B+).

MBIN

Strong Buy

75

out of 100

Grade: B+

Growth: 10.0Profit: 7.5Value: 6.7Quality: 3.0
Piotroski: 3/9Altman Z: 0.80

USB

Strong Buy

77

out of 100

Grade: B+

Growth: 7.3Profit: 7.5Value: 5.7Quality: 4.5
Piotroski: 4/9Altman Z: -0.36

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

MBIN6 strengths · Avg: 10.0/10
P/E RatioValuation
10.7x10/10

Attractively priced relative to earnings

Price/BookValuation
1.3x10/10

Reasonable price relative to book value

Profit MarginProfitability
42.5%10/10

Keeps 43 of every $100 in revenue as profit

Operating MarginProfitability
61.1%10/10

Strong operational efficiency at 61.1%

Revenue GrowthGrowth
37.1%10/10

Revenue surging 37.1% year-over-year

EPS GrowthGrowth
146.7%10/10

Earnings expanding 146.7% YoY

USB6 strengths · Avg: 8.7/10
Operating MarginProfitability
39.7%10/10

Strong operational efficiency at 39.7%

Market CapQuality
$97.91B9/10

Large-cap with strong market position

Profit MarginProfitability
29.9%9/10

Keeps 30 of every $100 in revenue as profit

P/E RatioValuation
12.4x8/10

Attractively priced relative to earnings

Price/BookValuation
1.6x8/10

Reasonable price relative to book value

EPS GrowthGrowth
21.6%8/10

Earnings expanding 21.6% YoY

Areas to Watch

MBIN3 concerns · Avg: 2.7/10
Debt/EquityHealth
1.793/10

Elevated debt levels

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Altman Z-ScoreHealth
0.802/10

Distress zone — elevated risk

USB3 concerns · Avg: 3.0/10
PEG RatioValuation
1.884/10

Expensive relative to growth rate

Debt/EquityHealth
1.423/10

Elevated debt levels

Altman Z-ScoreHealth
-0.362/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : MBIN

The strongest argument for MBIN centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 42.5% and operating margin at 61.1%. Revenue growth of 37.1% demonstrates continued momentum.

Bull Case : USB

The strongest argument for USB centers on Operating Margin, Market Cap, Profit Margin. Profitability is solid with margins at 29.9% and operating margin at 39.7%. Revenue growth of 10.4% demonstrates continued momentum.

Bear Case : MBIN

The primary concerns for MBIN are Debt/Equity, Piotroski F-Score, Altman Z-Score. Debt-to-equity of 1.79 is elevated, increasing financial risk.

Bear Case : USB

The primary concerns for USB are PEG Ratio, Debt/Equity, Altman Z-Score.

Key Dynamics to Monitor

MBIN profiles as a growth stock while USB is a mature play — different risk/reward profiles.

MBIN carries more volatility with a beta of 1.16 — expect wider price swings.

MBIN is growing revenue faster at 37.1% — sustainability is the question.

USB generates stronger free cash flow (4.8B), providing more financial flexibility.

Bottom Line

USB scores higher overall (77/100 vs 75/100), backed by strong 29.9% margins and 10.4% revenue growth. Both earn "Strong Buy" and "Strong Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Merchants Bancorp

FINANCIAL SERVICES · BANKS - REGIONAL · USA

Merchants Bancorp is the diversified bank holding company in the United States. The company is headquartered in Carmel, Indiana.

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U.S. Bancorp

FINANCIAL SERVICES · BANKS - REGIONAL · USA

U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions.

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