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Side-by-side financial comparison of Merchants Bancorp (MBIN) and XPLR Infrastructure, LP (XIFR). Click either name above to swap in a different company.
XPLR Infrastructure, LP is the larger business by last-quarter revenue ($249.0M vs $175.2M, roughly 1.4× Merchants Bancorp). Merchants Bancorp runs the higher net margin — 38.6% vs 11.2%, a 27.4% gap on every dollar of revenue. Over the past eight quarters, Merchants Bancorp's revenue compounded faster (4.8% CAGR vs -1.6%).
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.
XPLR Infrastructure is a publicly traded subsidiary of NextEra Energy, is a Juno Beach, Florida-based renewable energy company.
MBIN vs XIFR — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $175.2M | $249.0M |
| Net Profit | $67.7M | $28.0M |
| Gross Margin | — | — |
| Operating Margin | — | -19.3% |
| Net Margin | 38.6% | 11.2% |
| Revenue YoY | — | -15.3% |
| Net Profit YoY | 16.3% | 124.3% |
| EPS (diluted) | $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 | $185.3M | $249.0M | ||
| Q3 25 | $171.1M | $315.0M | ||
| Q2 25 | $179.2M | $342.0M | ||
| Q1 25 | $145.9M | $282.0M | ||
| Q4 24 | $193.8M | $294.0M | ||
| Q3 24 | $149.6M | $319.0M | ||
| Q2 24 | $159.5M | $360.0M |
| Q1 26 | $67.7M | — | ||
| Q4 25 | — | $28.0M | ||
| Q3 25 | $54.7M | $-37.0M | ||
| Q2 25 | $38.0M | $79.0M | ||
| Q1 25 | $58.2M | $-98.0M | ||
| Q4 24 | — | $-115.0M | ||
| Q3 24 | $61.3M | $-40.0M | ||
| Q2 24 | $76.4M | $62.0M |
| Q1 26 | — | — | ||
| Q4 25 | 39.9% | -19.3% | ||
| Q3 25 | 37.8% | 1.6% | ||
| Q2 25 | 27.3% | 26.3% | ||
| Q1 25 | 52.4% | -82.6% | ||
| Q4 24 | 66.0% | -188.1% | ||
| Q3 24 | 54.4% | 15.4% | ||
| Q2 24 | 62.2% | 18.3% |
| Q1 26 | 38.6% | — | ||
| Q4 25 | — | 11.2% | ||
| Q3 25 | 32.0% | -11.7% | ||
| Q2 25 | 21.2% | 23.1% | ||
| Q1 25 | 39.9% | -34.8% | ||
| Q4 24 | — | -39.1% | ||
| Q3 24 | 41.0% | -12.5% | ||
| Q2 24 | 47.9% | 17.2% |
| Q1 26 | $1.25 | — | ||
| Q4 25 | $1.28 | — | ||
| Q3 25 | $0.97 | $-0.40 | ||
| Q2 25 | $0.60 | $0.84 | ||
| Q1 25 | $0.93 | $-1.05 | ||
| Q4 24 | $1.84 | — | ||
| Q3 24 | $1.17 | $-0.43 | ||
| Q2 24 | $1.49 | $0.66 |
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 | $960.0M |
| Total DebtLower is stronger | $32.0M | $6.2B |
| Stockholders' EquityBook value | $2.3B | $10.9B |
| Total Assets | $20.3B | $19.6B |
| Debt / EquityLower = less leverage | 0.01× | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $83.2M | — | ||
| Q4 25 | — | $960.0M | ||
| Q3 25 | — | $711.0M | ||
| Q2 25 | — | $880.0M | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $283.0M | ||
| Q3 24 | — | $290.0M | ||
| Q2 24 | — | $281.0M |
| Q1 26 | $32.0M | — | ||
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $10.9B | ||
| Q3 25 | $2.2B | $11.0B | ||
| Q2 25 | $2.2B | $11.3B | ||
| Q1 25 | $2.2B | $12.6B | ||
| Q4 24 | $2.2B | $12.9B | ||
| Q3 24 | $1.9B | $13.6B | ||
| Q2 24 | $1.9B | $13.9B |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $19.4B | $19.6B | ||
| Q3 25 | $19.4B | $19.1B | ||
| Q2 25 | $19.1B | $20.5B | ||
| Q1 25 | $18.8B | $21.4B | ||
| Q4 24 | $18.8B | $20.3B | ||
| Q3 24 | $18.7B | $20.9B | ||
| Q2 24 | $18.2B | $21.7B |
| Q1 26 | 0.01× | — | ||
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.41× | ||
| 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 | — | $186.0M |
| Free Cash FlowOCF − Capex | — | $-88.0M |
| FCF MarginFCF / Revenue | — | -35.3% |
| Capex IntensityCapex / Revenue | — | 110.0% |
| Cash ConversionOCF / Net Profit | — | 6.64× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-219.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-341.2M | $186.0M | ||
| Q3 25 | $29.8M | $231.0M | ||
| Q2 25 | $-121.2M | $232.0M | ||
| Q1 25 | $148.0M | $90.0M | ||
| Q4 24 | $-835.3M | $283.0M | ||
| Q3 24 | $-492.6M | $208.0M | ||
| Q2 24 | $51.1M | $231.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-362.2M | $-88.0M | ||
| Q3 25 | $24.0M | $-283.0M | ||
| Q2 25 | $-125.7M | $151.0M | ||
| Q1 25 | $141.2M | $1.0M | ||
| Q4 24 | $-853.7M | $231.0M | ||
| Q3 24 | $-497.2M | $152.0M | ||
| Q2 24 | $45.8M | $162.0M |
| Q1 26 | — | — | ||
| Q4 25 | -195.5% | -35.3% | ||
| Q3 25 | 14.0% | -89.8% | ||
| Q2 25 | -70.1% | 44.2% | ||
| Q1 25 | 96.8% | 0.4% | ||
| Q4 24 | -440.6% | 78.6% | ||
| Q3 24 | -332.4% | 47.6% | ||
| Q2 24 | 28.7% | 45.0% |
| Q1 26 | — | — | ||
| Q4 25 | 11.3% | 110.0% | ||
| Q3 25 | 3.4% | 163.2% | ||
| Q2 25 | 2.5% | 23.7% | ||
| Q1 25 | 4.7% | 31.6% | ||
| Q4 24 | 9.5% | 17.7% | ||
| Q3 24 | 3.0% | 17.6% | ||
| Q2 24 | 3.3% | 19.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.64× | ||
| Q3 25 | 0.54× | — | ||
| Q2 25 | -3.19× | 2.94× | ||
| Q1 25 | 2.54× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -8.04× | — | ||
| Q2 24 | 0.67× | 3.73× |
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% |
XIFR
| Renewable Energy Sales | $238.0M | 96% |
| Related Party | $8.0M | 3% |
