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Marlin Business Services

DB:MBM
Snowflake Description

Undervalued with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MBM
DB
$293M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Marlin Business Services Corp. provides credit products and services to small and mid-sized businesses in the United States. The last earnings update was 72 days ago. More info.


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MBM Share Price and Events
7 Day Returns
-0.9%
DB:MBM
5%
DE Diversified Financial
2.8%
DE Market
1 Year Returns
-11.7%
DB:MBM
1.4%
DE Diversified Financial
3%
DE Market
MBM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Marlin Business Services (MBM) -0.9% 1% 6.9% -11.7% 26.1% 54%
DE Diversified Financial 5% 7.8% -5% 1.4% 75.8% 333.7%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • MBM underperformed the Diversified Financial industry which returned 1.4% over the past year.
  • MBM underperformed the Market in Germany which returned 3% over the past year.
Price Volatility
MBM
Industry
5yr Volatility vs Market

Value

 Is Marlin Business Services undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Marlin Business Services to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Marlin Business Services.

DB:MBM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $14.76 * 13.1%
$1.94
Book Value of Equity per Share Median Book Value from the past 5 years. $14.76
Discount Rate (Cost of Equity) See below 5.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:MBM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.72 (1 + (1- 21%) (40.54%))
0.859
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.859 * 5.96%)
5.35%

Discounted Cash Flow Calculation for DB:MBM using Excess Returns Model Model

The calculations below outline how an intrinsic value for Marlin Business Services is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:MBM Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.1% – 5.35%) * $14.76)
$1.15
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $1.15 / (5.35% - 0.23%)
$22.44
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $14.76 + $22.44
$37.2
DB:MBM Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MBM represents 0.90083x of NasdaqGS:MRLN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90083x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 37.20 x 0.90083
€33.51
Value per share (EUR) From above. €33.51
Current discount Discount to share price of €21.80
= -1 x (€21.80 - €33.51) / €33.51
34.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Marlin Business Services is available for.
Intrinsic value
35%
Share price is €21.8 vs Future cash flow value of €33.51
Current Discount Checks
For Marlin Business Services to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Marlin Business Services's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Marlin Business Services's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Marlin Business Services's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Marlin Business Services's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MBM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $1.91
NasdaqGS:MRLN Share Price ** NasdaqGS (2019-10-11) in USD $24.2
Germany Diversified Financial Industry PE Ratio Median Figure of 6 Publicly-Listed Diversified Financial Companies 27.82x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Marlin Business Services.

DB:MBM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:MRLN Share Price ÷ EPS (both in USD)

= 24.2 ÷ 1.91

12.7x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Marlin Business Services is good value based on earnings compared to the DE Diversified Financial industry average.
  • Marlin Business Services is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Marlin Business Services's expected growth come at a high price?
Raw Data
DB:MBM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.7x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
24.8%per year
Europe Diversified Financial Industry PEG Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 1.81x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

DB:MBM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.7x ÷ 24.8%

0.51x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Marlin Business Services is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Marlin Business Services's assets?
Raw Data
DB:MBM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $16.92
NasdaqGS:MRLN Share Price * NasdaqGS (2019-10-11) in USD $24.2
Germany Diversified Financial Industry PB Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 3.77x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:MBM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:MRLN Share Price ÷ Book Value per Share (both in USD)

= 24.2 ÷ 16.92

1.43x

* Primary Listing of Marlin Business Services.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Marlin Business Services is good value based on assets compared to the DE Diversified Financial industry average.
X
Value checks
We assess Marlin Business Services's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Diversified Financial industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Diversified Financial industry average (and greater than 0)? (1 check)
  5. Marlin Business Services has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Marlin Business Services expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
24.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Marlin Business Services expected to grow at an attractive rate?
  • Marlin Business Services's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Marlin Business Services's earnings growth is expected to exceed the Germany market average.
  • Marlin Business Services's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MBM Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MBM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 24.8%
DB:MBM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 10%
Germany Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Europe Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:MBM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MBM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 116 34 1
2019-12-31 100 29 1
2019-10-13
DB:MBM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 101 67 23
2019-03-31 99 75 24
2018-12-31 97 84 25
2018-09-30 97 74 34
2018-06-30 95 73 31
2018-03-31 93 61 29
2017-12-31 90 53 25
2017-09-30 86 49 14
2017-06-30 86 41 15
2017-03-31 83 45 15
2016-12-31 80 37 17
2016-09-30 77 32 15

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Marlin Business Services's earnings are expected to grow significantly at over 20% yearly.
  • Marlin Business Services's revenue is expected to grow by 10% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:MBM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Marlin Business Services Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MBM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.78 2.78 2.78 1.00
2019-12-31 2.32 2.32 2.32 1.00
2019-10-13
DB:MBM Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 1.91
2019-03-31 1.93
2018-12-31 2.01
2018-09-30 2.77
2018-06-30 2.55
2018-03-31 2.39
2017-12-31 2.02
2017-09-30 1.13
2017-06-30 1.21
2017-03-31 1.21
2016-12-31 1.38
2016-09-30 1.23

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Marlin Business Services will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Marlin Business Services's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Marlin Business Services has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Marlin Business Services performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Marlin Business Services's growth in the last year to its industry (Diversified Financial).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Marlin Business Services's year on year earnings growth rate has been positive over the past 5 years.
  • Marlin Business Services's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Marlin Business Services's 1-year earnings growth is negative, it can't be compared to the Europe Diversified Financial industry average.
Earnings and Revenue History
Marlin Business Services's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Marlin Business Services Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MBM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 100.88 23.24 69.24
2019-03-31 98.75 23.55 66.68
2018-12-31 97.37 24.55 64.67
2018-09-30 97.18 33.73 63.70
2018-06-30 94.88 31.15 59.47
2018-03-31 92.85 29.23 62.87
2017-12-31 89.98 24.66 61.64
2017-09-30 86.38 13.82 59.79
2017-06-30 85.50 14.81 61.07
2017-03-31 82.73 14.71 54.13
2016-12-31 79.82 16.76 51.44
2016-09-30 77.20 14.98 48.66
2016-06-30 76.24 15.43 47.28
2016-03-31 74.97 15.12 46.43
2015-12-31 74.07 15.50 48.63
2015-09-30 73.95 17.36 44.37
2015-06-30 73.09 17.46 43.08
2015-03-31 73.25 18.25 41.92
2014-12-31 74.68 18.80 42.23
2014-09-30 73.91 17.36 43.88
2014-06-30 73.47 17.14 43.83
2014-03-31 72.35 16.61 43.65
2013-12-31 69.51 15.64 40.31
2013-09-30 67.23 15.84 40.01
2013-06-30 64.53 14.57 39.32
2013-03-31 61.24 13.14 38.18
2012-12-31 58.11 11.20 38.41

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Marlin Business Services has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Marlin Business Services used its assets less efficiently than the DE Diversified Financial industry average last year based on Return on Assets.
  • Unable to establish if Marlin Business Services improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Marlin Business Services's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Diversified Financial industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Marlin Business Services has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Marlin Business Services's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Marlin Business Services's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Marlin Business Services's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Marlin Business Services's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Marlin Business Services's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Marlin Business Services Company Filings, last reported 3 months ago.

DB:MBM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 205.55 109.64 152.41
2019-03-31 201.65 129.17 152.19
2018-12-31 198.51 150.06 106.82
2018-09-30 193.54 174.52 97.86
2018-06-30 189.64 0.00 107.64
2018-03-31 183.93 0.00 92.56
2017-12-31 179.65 0.00 75.26
2017-09-30 166.30 0.00 91.30
2017-06-30 164.18 0.00 85.68
2017-03-31 162.65 0.00 84.84
2016-12-31 162.29 0.00 71.36
2016-09-30 158.67 0.00 86.73
2016-06-30 155.69 0.00 87.88
2016-03-31 152.48 0.00 73.71
2015-12-31 150.14 0.00 67.50
2015-09-30 151.31 0.00 112.59
2015-06-30 176.49 0.00 98.11
2015-03-31 175.09 0.00 116.26
2014-12-31 173.96 0.00 110.66
2014-09-30 170.05 0.00 104.21
2014-06-30 168.30 0.00 98.61
2014-03-31 166.15 0.00 118.60
2013-12-31 163.04 0.00 85.65
2013-09-30 159.98 0.00 75.82
2013-06-30 181.28 1.02 85.83
2013-03-31 177.44 5.41 75.54
2012-12-31 174.25 15.51 64.97
  • Marlin Business Services's level of debt (53.3%) compared to net worth is high (greater than 40%).
  • Unable to establish if Marlin Business Services's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (61.1%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Marlin Business Services's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Marlin Business Services's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Marlin Business Services has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Marlin Business Services's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.31%
Current annual income from Marlin Business Services dividends. Estimated to be 2.31% next year.
If you bought €2,000 of Marlin Business Services shares you are expected to receive €46 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Marlin Business Services's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Marlin Business Services's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:MBM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
Europe Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:MBM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.56 1.00
2019-12-31 0.56 1.00
2019-10-13
DB:MBM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-08-01 0.560 2.371
2019-01-31 0.560 2.475
2018-11-02 0.560 2.341
2018-11-01 0.560 2.113
2018-05-03 0.560 1.925
2018-03-09 0.560 1.981
2018-02-01 0.560 2.114
2017-10-30 0.560 2.436
2017-10-26 0.560 2.266
2017-08-04 0.560 2.051
2017-07-27 0.560 2.161
2017-05-03 0.560 2.231
2017-04-27 0.560 2.259
2017-03-13 0.560 2.211
2017-01-26 0.560 2.356
2016-10-31 0.560 2.760
2016-10-27 0.560 3.080
2016-07-29 0.560 2.988
2016-07-28 0.560 3.067
2016-04-29 0.560 3.593
2016-04-28 0.560 3.765
2016-03-04 0.560 3.889
2016-02-01 0.560 3.986
2015-08-04 0.560 3.571
2015-05-01 0.500 2.832
2015-04-30 0.500 2.561
2014-10-30 0.500 2.614
2014-07-29 0.500 2.635
2014-04-30 0.440 2.317
2014-02-05 0.440 2.048
2013-11-06 0.440 1.728
2013-07-30 0.440 1.750
2013-04-30 0.400 1.721
2013-01-30 0.400 1.862
2012-10-31 0.320 1.676
2012-08-02 0.320 1.733
2012-04-30 0.240 1.592
2012-02-23 0.240 1.626
2011-11-03 0.240 1.813

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Marlin Business Services has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Marlin Business Services only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Marlin Business Services's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.4x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Marlin Business Services's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Marlin Business Services afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Marlin Business Services has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Marlin Business Services's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jeff Hilzinger
COMPENSATION $1,693,129
AGE 60
TENURE AS CEO 3.3 years
CEO Bio

Mr. Jeffrey A. Hilzinger, also known as Jeff, has been the Chief Executive Officer and President of Marlin Business Services Corp. since June 1, 2016. Mr. Hilzinger has commercial finance experience, including substantial leadership experience in finance, operations and general corporate management. He has been Director of Encore Capital Group, Inc since September 25, 2019. He served as Executive Vice President of Everbank Commercial Real Estate at EverBank Financial Corp. Mr. Hilzinger was responsible for a nationwide business focused on equipment finance and lender finance in the industrial equipment, healthcare, office equipment and technology markets. He served as President of Equipment & Lender Finance and an Executive Vice President of EverBank. He served as Chief Operating Officer of EverBank Commercial Finance, Inc. from 2010 to 2013 and served as its President. He co-founded Tygris Vendor Finance, Inc. in 2004 and served as its Chief Financial Officer from 2004 to 2010. He headed up all controllership, business planning and capital markets activities at US Express Leasing. From 1979 to 2002, Mr. Hilzinger served in various regional and global leadership roles with Heller Financial, Inc. and certain of its subsidiaries and affiliates. At Heller Financial, Inc., he climbed the corporate ladder in the U.S. and crossed the pond to work for Heller Global Vendor Finance based in London. While in London, he led all origination activities in 20 countries across North America, Europe and Asia. He held leadership roles in Heller's leveraged finance and structured finance businesses. He later Co-founded Aternus Partners, LLC and served as its Managing Director until 2004. He has been a Director of Marlin Business Services Corp. since June 16, 2016. Mr. Hilzinger received his Bachelor's degree, with a major in Economics, from the University of Michigan in 1979.

CEO Compensation
  • Jeff's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jeff's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Marlin Business Services management team in years:

2.3
Average Tenure
55
Average Age
  • The tenure for the Marlin Business Services management team is about average.
Management Team

Jeff Hilzinger

TITLE
President
COMPENSATION
$2M
AGE
60
TENURE
3.3 yrs

Greg Sting

TITLE
Senior VP & COO
COMPENSATION
$574K
AGE
56

Ed Dietz

TITLE
Senior VP
COMPENSATION
$600K
AGE
44
TENURE
8.4 yrs

Lou Maslowe

TITLE
Chief Risk Officer & Senior VP
COMPENSATION
$780K
AGE
55

Mike Bogansky

TITLE
Senior VP & CFO
AGE
41
TENURE
0.7 yrs

Jim Sherlock

TITLE
Senior VP & Chief Information Officer

Mark Scardigli

TITLE
Chief Sales Officer
TENURE
2 yrs

Aswin Rajappa

TITLE
Chief Marketing Officer
TENURE
2.1 yrs

Laura Anger

TITLE
Chief Human Resources Officer & Senior VP
TENURE
2.3 yrs

Dan Castellini

TITLE
Senior Vice President
TENURE
2.4 yrs
Board of Directors Tenure

Average tenure and age of the Marlin Business Services board of directors in years:

9.4
Average Tenure
60
Average Age
  • The tenure for the Marlin Business Services board of directors is about average.
Board of Directors

Larry DeAngelo

TITLE
Chairman of the Board
COMPENSATION
$176K
AGE
53
TENURE
5.3 yrs

Jeff Hilzinger

TITLE
President
COMPENSATION
$2M
AGE
60
TENURE
3.3 yrs

Jim Wert

TITLE
Director
COMPENSATION
$137K
AGE
72
TENURE
21.7 yrs

John Calamari

TITLE
Director
COMPENSATION
$135K
AGE
64
TENURE
15.9 yrs

Matt Sullivan

TITLE
Director
COMPENSATION
$129K
AGE
61
TENURE
11.5 yrs

Chris Teets

TITLE
Director
COMPENSATION
$125K
AGE
46
TENURE
9.4 yrs

Scott Heimes

TITLE
Director
COMPENSATION
$110K
AGE
49
TENURE
4.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
11. Jun 19 Sell Jim Sherlock Individual 10. Jun 19 10. Jun 19 -2,231 €20.33 €-45,365
06. Jun 19 Sell Edward Dietz Individual 05. Jun 19 06. Jun 19 -5,081 €20.69 €-103,533
03. Jun 19 Sell Edward Dietz Individual 30. May 19 30. May 19 -2,419 €21.05 €-50,922
X
Management checks
We assess Marlin Business Services's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Marlin Business Services has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Marlin Business Services Corp. provides credit products and services to small and mid-sized businesses in the United States. The company’s products and services include loans and leases for the acquisition of commercial equipment and working capital loans. It offers lease finance to approximately 100 categories of equipment. As of December 31, 2018, the company had a portfolio of approximately 94,000 equipment finance leases and loans. It also offers property reinsurance coverage for its financed equipment; and operates a commercial bank that issues certificates of deposit and money market demand accounts, as well as provides small business loans. The company provides its solutions through a network of independent commercial equipment dealers and national account programs, as well as through direct solicitation and relationships with select lease and loan brokers. Marlin Business Services Corp. was founded in 1997 and is based in Mount Laurel, New Jersey.

Details
Name: Marlin Business Services Corp.
MBM
Exchange: DB
Founded: 1997
$265,030,001
12,101,274
Website: http://marlincapitalsolutions.com
Address: Marlin Business Services Corp.
300 Fellowship Road,
Mount Laurel,
New Jersey, 08054,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS MRLN Common Stock Nasdaq Global Select US USD 12. Nov 2003
DB MBM Common Stock Deutsche Boerse AG DE EUR 12. Nov 2003
Number of employees
Current staff
Staff numbers
356
Marlin Business Services employees.
Industry
Specialized Finance
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 20:31
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/09/06
Last earnings filing: 2019/08/02
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.