MBBC

MKT CAP:$44M

Marathon Bancorp, Inc.

Market Cap

$44M

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$13.62+$1.43 (+11.73%)

Apr 21, 2026

Company Details

Marathon Bancorp, Inc. focuses on to operate as a bank holding company for Marathon Bank, a chartered savings bank. Marathon Bank offers deposit products, such as demand deposits, savings, and certificates of deposits; and lending products ...

CEO

Nicholas W. Zillges

IPO Date

Apr 21, 2021

Website

www.marathonbank.com

Key Metrics TTM

Revenue

$10M

+1.4% YoY

Net Income

$42.4K

EPS (Diluted)

$0.15

Free Cash Flow

$1M

Revenue / Share

$3.50

Gross Margin

66.8%

Operating Margin

0.1%

Net Margin

0.4%

FCF Margin

12.3%

P/S

4.3x

P/E

1037.1x

Earnings Reports

Q1 2026

May 13, 2026

PENDING

FY 2025

Sep 26, 2025

$10M+1.4%EPS $0.02

Q4 2025

Sep 26, 2025

$3M+13.3%EPS -$0.11

Q3 2025

May 14, 2025

$3M+2.9%EPS $0.10

Q2 2025

Feb 13, 2025

$2M-5.1%EPS $0.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$2M	$2M	$550.6K
Q2 22	$2M	$2M	$384.5K
Q3 22	$2M	$2M	$323.1K
Q4 22	$2M	$2M	$514.0K
Q1 23	$2M	$2M	$627.8K
Q2 23	$2M	$2M	$392.9K
Q3 23	$3M	$2M	$423.9K
Q4 23	$3M	$2M	$672.2K
Q1 24	$3M	$2M	$287.7K
Q2 24	$3M	$2M	$242.9K
Q3 24	$2M	$2M	-$834.1K
Q4 24	$2M	$2M	$57.4K
Q1 25	$3M	$2M	$215.5K
Q2 25	$2M	$2M	$52.6K
Q3 25	$3M	$2M	$193.8K
Q4 25	$3M	$2M	-$451.0K

Valuation

Quarter	P/S	P/E
Q1 22	1.9x	11.5x
Q2 22	2.0x	12.7x
Q3 22	2.1x	12.7x
Q4 22	2.1x	13.0x
Q1 23	2.0x	11.8x
Q2 23	2.0x	12.2x
Q3 23	1.8x	10.9x
Q4 23	1.6x	9.6x
Q1 24	1.2x	10.4x
Q2 24	1.3x	11.3x
Q3 24	1.4x	64.7x
Q4 24	1.3x	—
Q1 25	1.3x	—
Q2 25	2.0x	—
Q3 25	2.0x	43.2x
Q4 25	1.4x	348.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$451.5K	$442.2K
Q2 22	-$245.6K	-$245.6K
Q3 22	$383.5K	$367.6K
Q4 22	$236.2K	$227.1K
Q1 23	$1M	$1M
Q2 23	-$514.4K	-$518.1K
Q3 23	$294.0K	$294.0K
Q4 23	$733.0K	$733.0K
Q1 24	$366.7K	-$1M
Q2 24	$622.9K	$277.3K
Q3 24	-$802.1K	-$1M
Q4 24	$229.0K	$209.6K
Q1 25	$945.2K	$921.6K
Q2 25	$113.6K	$105.0K
Q3 25	$849.0K	$773.2K
Q4 25	-$459.3K	-$530.3K

Capital Expenditures

Quarter	CapEx
Q1 22	$9.2K
Q2 22	$0
Q3 22	$15.8K
Q4 22	$9.0K
Q1 23	$61.7K
Q2 23	$3.7K
Q3 23	$0
Q4 23	$0
Q1 24	$2M
Q2 24	$345.6K
Q3 24	$252.2K
Q4 24	$19.5K
Q1 25	$23.7K
Q2 25	$8.6K
Q3 25	$75.8K
Q4 25	$70.9K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+7.4%	+3.9%
Q2 22	-5.1%	+1.8%
Q3 22	-2.3%	-1.6%
Q4 22	-4.2%	-4.7%
Q1 23	+9.3%	+7.7%
Q2 23	+22.4%	+27.3%
Q3 23	+30.6%	+30.5%
Q4 23	+36.0%	+37.7%
Q1 24	+10.3%	+33.3%
Q2 24	+5.7%	+14.2%
Q3 24	-3.1%	+55.6%
Q4 24	-12.1%	+12.8%
Q1 25	-4.9%	-2.4%
Q2 25	-5.1%	+2.5%
Q3 25	+2.9%	-28.9%
Q4 25	+13.3%	+34.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$15.0K	0.7%
Q2 22	$14.1K	0.7%
Q3 22	$9.6K	0.5%
Q4 22	$9.6K	0.5%
Q1 23	$44.2K	1.9%
Q2 23	$40.3K	1.7%
Q3 23	$40.1K	1.6%
Q4 23	$46.2K	1.6%
Q1 24	$50.2K	1.9%
Q2 24	$42.3K	1.6%
Q3 24	$50.3K	2.0%
Q4 24	$50.3K	2.0%
Q1 25	$50.3K	2.0%
Q2 25	$40.2K	1.6%
Q3 25	$49.4K	1.9%
Q4 25	$78.5K	2.8%

OpEx Breakdown

Quarter	G&A	S&M
Q1 22	$921.9K	$15.0K
Q2 22	$741.2K	$27.6K
Q3 22	$806.0K	$22.2K
Q4 22	$830.8K	$12.8K
Q1 23	$831.9K	$17.8K
Q2 23	$831.7K	$33.5K
Q3 23	$832.5K	$18.4K
Q4 23	$889.2K	$17.4K
Q1 24	$772.8K	$15.2K
Q2 24	$760.7K	$24.7K
Q3 24	$804.5K	$15.2K
Q4 24	$979.5K	$6.1K
Q1 25	$835.2K	$14.7K
Q2 25	$834.5K	$13.9K
Q3 25	$796.4K	$9.1K
Q4 25	$1M	$4.4K

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$6M	$13M	$19M
Q3 22	$3M	$11M	$14M
Q4 22	$4M	$11M	$15M
Q1 23	$3M	$10M	$13M
Q2 23	$4M	$9M	$13M
Q3 23	$6M	$9M	$16M
Q4 23	$6M	$9M	$15M
Q1 24	$7M	$9M	$16M
Q2 24	$8M	$8M	$15M
Q3 24	$3M	$7M	$10M
Q4 24	$3M	$7M	$10M
Q1 25	$2M	$7M	$9M
Q2 25	$3M	$6M	$9M
Q3 25	$2M	$5M	$7M
Q4 25	$2M	$2M	$4M
Q1 26	$3M	$772.5K	$4M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	2M	-27.2%	-3.9%
Q2 22	2M	+0.1%	-3.8%
Q3 22	2M	-0.0%	-3.8%
Q4 22	2M	+0.1%	-27.1%
Q1 23	2M	+0.1%	+0.2%
Q2 23	2M	+0.2%	+0.4%
Q3 23	2M	-2.2%	-1.9%
Q4 23	2M	-1.2%	-3.1%
Q1 24	1M	-1.6%	-4.7%
Q2 24	1M	-0.1%	-5.1%
Q3 24	1M	+0.0%	-2.9%
Q4 24	1M	-0.3%	-2.0%
Q1 25	1M	-0.2%	-0.5%
Q2 25	1M	+0.4%	0.0%
Q3 25	1M	+0.7%	+0.7%
Q4 25	3M	+96.0%	+97.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$59.2K	35
Q1 23	$68.2K	35
Q2 23	$69.7K	35
Q3 23	$72.8K	35
Q4 23	$80.5K	35
Q1 24	$75.2K	35
Q2 24	$73.7K	35
Q3 24	$70.5K	35
Q4 24	$70.7K	35
Q1 25	$71.6K	35
Q2 25	$69.9K	35
Q3 25	$72.6K	35
Q4 25	$80.2K	35

Revenue / Employee