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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and Merchants Bancorp (MBIN). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $175.2M, roughly 1.3× Merchants Bancorp). Merchants Bancorp runs the higher net margin — 38.6% vs 4.4%, a 34.2% gap on every dollar of revenue. Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs 4.8%).
Ameris Bancorp is an American bank holding company headquartered in Atlanta, Georgia. Through its bank subsidiary, Ameris Bank, the company operates full-service branches in Georgia, Alabama, Florida, North Carolina and South Carolina, and mortgage-only locations in Georgia, Alabama, Florida, North Carolina, South Carolina, Virginia, Maryland, and Tennessee. The company offers online and mobile banking options for both consumers and businesses.
CSW vs MBIN — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $175.2M |
| Net Profit | $10.3M | $67.7M |
| Gross Margin | 39.7% | — |
| Operating Margin | 7.4% | — |
| Net Margin | 4.4% | 38.6% |
| Revenue YoY | 20.3% | — |
| Net Profit YoY | -61.9% | 16.3% |
| EPS (diluted) | $0.62 | $1.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $175.2M | ||
| Q4 25 | $233.0M | $185.3M | ||
| Q3 25 | $277.0M | $171.1M | ||
| Q2 25 | $263.6M | $179.2M | ||
| Q1 25 | $230.5M | $145.9M | ||
| Q4 24 | $193.6M | $193.8M | ||
| Q3 24 | $227.9M | $149.6M | ||
| Q2 24 | $226.2M | $159.5M |
| Q1 26 | — | $67.7M | ||
| Q4 25 | $10.3M | — | ||
| Q3 25 | $40.7M | $54.7M | ||
| Q2 25 | $40.9M | $38.0M | ||
| Q1 25 | $35.1M | $58.2M | ||
| Q4 24 | $26.9M | — | ||
| Q3 24 | $36.1M | $61.3M | ||
| Q2 24 | $38.6M | $76.4M |
| Q1 26 | — | — | ||
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.0% | — | ||
| Q2 25 | 43.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 41.4% | — | ||
| Q3 24 | 45.6% | — | ||
| Q2 24 | 47.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 7.4% | 39.9% | ||
| Q3 25 | 20.5% | 37.8% | ||
| Q2 25 | 20.8% | 27.3% | ||
| Q1 25 | 19.5% | 52.4% | ||
| Q4 24 | 15.3% | 66.0% | ||
| Q3 24 | 22.6% | 54.4% | ||
| Q2 24 | 24.3% | 62.2% |
| Q1 26 | — | 38.6% | ||
| Q4 25 | 4.4% | — | ||
| Q3 25 | 14.7% | 32.0% | ||
| Q2 25 | 15.5% | 21.2% | ||
| Q1 25 | 15.2% | 39.9% | ||
| Q4 24 | 13.9% | — | ||
| Q3 24 | 15.8% | 41.0% | ||
| Q2 24 | 17.1% | 47.9% |
| Q1 26 | — | $1.25 | ||
| Q4 25 | $0.62 | $1.28 | ||
| Q3 25 | $2.41 | $0.97 | ||
| Q2 25 | $2.43 | $0.60 | ||
| Q1 25 | $2.05 | $0.93 | ||
| Q4 24 | $1.60 | $1.84 | ||
| Q3 24 | $2.26 | $1.17 | ||
| Q2 24 | $2.47 | $1.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $40.2M | $83.2M |
| Total DebtLower is stronger | — | $32.0M |
| Stockholders' EquityBook value | $1.1B | $2.3B |
| Total Assets | $2.3B | $20.3B |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $83.2M | ||
| Q4 25 | $40.2M | — | ||
| Q3 25 | $31.5M | — | ||
| Q2 25 | $38.0M | — | ||
| Q1 25 | $225.8M | — | ||
| Q4 24 | $213.8M | — | ||
| Q3 24 | $273.2M | — | ||
| Q2 24 | $18.9M | — |
| Q1 26 | — | $32.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $800.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $2.3B | ||
| Q4 25 | $1.1B | $2.3B | ||
| Q3 25 | $1.1B | $2.2B | ||
| Q2 25 | $1.1B | $2.2B | ||
| Q1 25 | $1.1B | $2.2B | ||
| Q4 24 | $1.0B | $2.2B | ||
| Q3 24 | $1.0B | $1.9B | ||
| Q2 24 | $650.2M | $1.9B |
| Q1 26 | — | $20.3B | ||
| Q4 25 | $2.3B | $19.4B | ||
| Q3 25 | $1.5B | $19.4B | ||
| Q2 25 | $1.5B | $19.1B | ||
| Q1 25 | $1.4B | $18.8B | ||
| Q4 24 | $1.4B | $18.8B | ||
| Q3 24 | $1.4B | $18.7B | ||
| Q2 24 | $1.1B | $18.2B |
| Q1 26 | — | 0.01× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $28.9M | — |
| Free Cash FlowOCF − Capex | $22.7M | — |
| FCF MarginFCF / Revenue | 9.8% | — |
| Capex IntensityCapex / Revenue | 2.6% | — |
| Cash ConversionOCF / Net Profit | 2.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $28.9M | $-341.2M | ||
| Q3 25 | $61.8M | $29.8M | ||
| Q2 25 | $60.6M | $-121.2M | ||
| Q1 25 | $27.3M | $148.0M | ||
| Q4 24 | $11.6M | $-835.3M | ||
| Q3 24 | $66.8M | $-492.6M | ||
| Q2 24 | $62.7M | $51.1M |
| Q1 26 | — | — | ||
| Q4 25 | $22.7M | $-362.2M | ||
| Q3 25 | $58.7M | $24.0M | ||
| Q2 25 | $57.7M | $-125.7M | ||
| Q1 25 | $22.8M | $141.2M | ||
| Q4 24 | $8.5M | $-853.7M | ||
| Q3 24 | $61.3M | $-497.2M | ||
| Q2 24 | $59.6M | $45.8M |
| Q1 26 | — | — | ||
| Q4 25 | 9.8% | -195.5% | ||
| Q3 25 | 21.2% | 14.0% | ||
| Q2 25 | 21.9% | -70.1% | ||
| Q1 25 | 9.9% | 96.8% | ||
| Q4 24 | 4.4% | -440.6% | ||
| Q3 24 | 26.9% | -332.4% | ||
| Q2 24 | 26.3% | 28.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 11.3% | ||
| Q3 25 | 1.1% | 3.4% | ||
| Q2 25 | 1.1% | 2.5% | ||
| Q1 25 | 2.0% | 4.7% | ||
| Q4 24 | 1.6% | 9.5% | ||
| Q3 24 | 2.4% | 3.0% | ||
| Q2 24 | 1.4% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.81× | — | ||
| Q3 25 | 1.52× | 0.54× | ||
| Q2 25 | 1.48× | -3.19× | ||
| Q1 25 | 0.78× | 2.54× | ||
| Q4 24 | 0.43× | — | ||
| Q3 24 | 1.85× | -8.04× | ||
| Q2 24 | 1.62× | 0.67× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
MBIN
| Net Interest Income | $128.6M | 73% |
| Noninterest Income | $46.6M | 27% |
