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Side-by-side financial comparison of Merchants Bancorp (MBIN) and Smith Douglas Homes Corp. (SDHC). Click either name above to swap in a different company.
Smith Douglas Homes Corp. is the larger business by last-quarter revenue ($260.4M vs $175.2M, roughly 1.5× Merchants Bancorp). Merchants Bancorp runs the higher net margin — 38.6% vs 1.4%, a 37.3% gap on every dollar of revenue. Over the past eight quarters, Smith Douglas Homes Corp.'s revenue compounded faster (17.3% 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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
MBIN vs SDHC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $175.2M | $260.4M |
| Net Profit | $67.7M | $3.5M |
| Gross Margin | — | 19.9% |
| Operating Margin | — | 6.5% |
| Net Margin | 38.6% | 1.4% |
| Revenue YoY | — | -9.4% |
| Net Profit YoY | 16.3% | -14.3% |
| EPS (diluted) | $1.25 | $0.39 |
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 | $185.3M | $260.4M | ||
| Q3 25 | $171.1M | $262.0M | ||
| Q2 25 | $179.2M | $223.9M | ||
| Q1 25 | $145.9M | $224.7M | ||
| Q4 24 | $193.8M | $287.5M | ||
| Q3 24 | $149.6M | $277.8M | ||
| Q2 24 | $159.5M | $220.9M |
| Q1 26 | $67.7M | — | ||
| Q4 25 | — | $3.5M | ||
| Q3 25 | $54.7M | $2.1M | ||
| Q2 25 | $38.0M | $2.4M | ||
| Q1 25 | $58.2M | $2.7M | ||
| Q4 24 | — | $4.1M | ||
| Q3 24 | $61.3M | $5.3M | ||
| Q2 24 | $76.4M | $3.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.9% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 23.2% | ||
| Q1 25 | — | 23.8% | ||
| Q4 24 | — | 25.5% | ||
| Q3 24 | — | 26.5% | ||
| Q2 24 | — | 26.7% |
| Q1 26 | — | — | ||
| Q4 25 | 39.9% | 6.5% | ||
| Q3 25 | 37.8% | 6.6% | ||
| Q2 25 | 27.3% | 7.7% | ||
| Q1 25 | 52.4% | 8.7% | ||
| Q4 24 | 66.0% | 10.4% | ||
| Q3 24 | 54.4% | 14.2% | ||
| Q2 24 | 62.2% | 11.7% |
| Q1 26 | 38.6% | — | ||
| Q4 25 | — | 1.4% | ||
| Q3 25 | 32.0% | 0.8% | ||
| Q2 25 | 21.2% | 1.1% | ||
| Q1 25 | 39.9% | 1.2% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 41.0% | 1.9% | ||
| Q2 24 | 47.9% | 1.7% |
| Q1 26 | $1.25 | — | ||
| Q4 25 | $1.28 | $0.39 | ||
| Q3 25 | $0.97 | $0.24 | ||
| Q2 25 | $0.60 | $0.26 | ||
| Q1 25 | $0.93 | $0.30 | ||
| Q4 24 | $1.84 | $0.50 | ||
| Q3 24 | $1.17 | $0.58 | ||
| Q2 24 | $1.49 | $0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $83.2M | $12.7M |
| Total DebtLower is stronger | $32.0M | — |
| Stockholders' EquityBook value | $2.3B | $86.7M |
| Total Assets | $20.3B | $557.6M |
| Debt / EquityLower = less leverage | 0.01× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $83.2M | — | ||
| Q4 25 | — | $12.7M | ||
| Q3 25 | — | $14.8M | ||
| Q2 25 | — | $16.8M | ||
| Q1 25 | — | $12.7M | ||
| Q4 24 | — | $22.4M | ||
| Q3 24 | — | $23.7M | ||
| Q2 24 | — | $17.3M |
| Q1 26 | $32.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $86.7M | ||
| Q3 25 | $2.2B | $82.2M | ||
| Q2 25 | $2.2B | $80.0M | ||
| Q1 25 | $2.2B | $76.9M | ||
| Q4 24 | $2.2B | $73.6M | ||
| Q3 24 | $1.9B | $68.4M | ||
| Q2 24 | $1.9B | $62.1M |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $19.4B | $557.6M | ||
| Q3 25 | $19.4B | $571.6M | ||
| Q2 25 | $19.1B | $570.2M | ||
| Q1 25 | $18.8B | $513.9M | ||
| Q4 24 | $18.8B | $475.9M | ||
| Q3 24 | $18.7B | $460.1M | ||
| Q2 24 | $18.2B | $429.3M |
| Q1 26 | 0.01× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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 | — | $9.8M |
| Free Cash FlowOCF − Capex | — | $8.7M |
| FCF MarginFCF / Revenue | — | 3.4% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | — | 2.77× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-36.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-341.2M | $9.8M | ||
| Q3 25 | $29.8M | $22.8M | ||
| Q2 25 | $-121.2M | $-28.9M | ||
| Q1 25 | $148.0M | $-34.9M | ||
| Q4 24 | $-835.3M | $5.5M | ||
| Q3 24 | $-492.6M | $22.9M | ||
| Q2 24 | $51.1M | $39.0K |
| Q1 26 | — | — | ||
| Q4 25 | $-362.2M | $8.7M | ||
| Q3 25 | $24.0M | $21.4M | ||
| Q2 25 | $-125.7M | $-31.1M | ||
| Q1 25 | $141.2M | $-35.9M | ||
| Q4 24 | $-853.7M | $4.8M | ||
| Q3 24 | $-497.2M | $22.3M | ||
| Q2 24 | $45.8M | $-2.1M |
| Q1 26 | — | — | ||
| Q4 25 | -195.5% | 3.4% | ||
| Q3 25 | 14.0% | 8.2% | ||
| Q2 25 | -70.1% | -13.9% | ||
| Q1 25 | 96.8% | -16.0% | ||
| Q4 24 | -440.6% | 1.7% | ||
| Q3 24 | -332.4% | 8.0% | ||
| Q2 24 | 28.7% | -1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 11.3% | 0.4% | ||
| Q3 25 | 3.4% | 0.5% | ||
| Q2 25 | 2.5% | 0.9% | ||
| Q1 25 | 4.7% | 0.5% | ||
| Q4 24 | 9.5% | 0.2% | ||
| Q3 24 | 3.0% | 0.2% | ||
| Q2 24 | 3.3% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.77× | ||
| Q3 25 | 0.54× | 10.70× | ||
| Q2 25 | -3.19× | -12.24× | ||
| Q1 25 | 2.54× | -13.01× | ||
| Q4 24 | — | 1.33× | ||
| Q3 24 | -8.04× | 4.28× | ||
| Q2 24 | 0.67× | 0.01× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MBIN
| Net Interest Income | $128.6M | 73% |
| Noninterest Income | $46.6M | 27% |
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
