Marathon Bancorp (MBBC)
Market Price (3/15/2026): $12.95 | Market Cap: $34.8 MilSector: Financials | Industry: Regional Banks
Marathon Bancorp (MBBC)
Market Price (3/15/2026): $12.95Market Cap: $34.8 MilSector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 26% | Weak multi-year price returns3Y Excs Rtn is -50% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 49x |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 26% | ||
| Attractive yieldFCF Yield is 5.6% | ||
| Low stock price volatilityVol 12M is 32% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 26% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 26% |
| Attractive yieldFCF Yield is 5.6% |
| Low stock price volatilityVol 12M is 32% |
| Weak multi-year price returns3Y Excs Rtn is -50% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 49x |
Qualitative Assessment
AI Analysis | Feedback
Marathon Bancorp (MBBC) stock has gained about 25% since 11/30/2025 because of the following key factors:
1. Marathon Bancorp experienced significant earnings growth and a substantial improvement in its net income margin. For the quarter ended December 31, 2025 (Q2 2026), the company's net income surged to $501,396 from $51,127 in the prior year, marking an 880.69% increase. Diluted earnings per share (EPS) for the same period rose from $0.02 to $0.19, a 533.33% increase. Additionally, revenue for Q2 2026 grew by 40.82% year-over-year. The net income margin also saw a remarkable 581.5% change between September 30, 2025, and January 23, 2026.
2. The company demonstrated strong financial health, characterized by solid loan and deposit growth and robust capital levels. As of December 31, 2025, Marathon Bancorp's loan balances increased to $211.9 million from $200.8 million, while deposits reached $178.4 million. The bank's capital position remained strong, with a Tier 1 leverage ratio of 15.27%, significantly exceeding regulatory well-capitalized thresholds. Furthermore, asset quality indicators were solid, with nonaccrual loans totaling only $190,013.
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1. Marathon Bancorp experienced significant earnings growth and a substantial improvement in its net income margin. For the quarter ended December 31, 2025 (Q2 2026), the company's net income surged to $501,396 from $51,127 in the prior year, marking an 880.69% increase. Diluted earnings per share (EPS) for the same period rose from $0.02 to $0.19, a 533.33% increase. Additionally, revenue for Q2 2026 grew by 40.82% year-over-year. The net income margin also saw a remarkable 581.5% change between September 30, 2025, and January 23, 2026.
2. The company demonstrated strong financial health, characterized by solid loan and deposit growth and robust capital levels. As of December 31, 2025, Marathon Bancorp's loan balances increased to $211.9 million from $200.8 million, while deposits reached $178.4 million. The bank's capital position remained strong, with a Tier 1 leverage ratio of 15.27%, significantly exceeding regulatory well-capitalized thresholds. Furthermore, asset quality indicators were solid, with nonaccrual loans totaling only $190,013.
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Stock Movement Drivers
Fundamental Drivers
The 24.4% change in MBBC stock from 11/30/2025 to 3/13/2026 was primarily driven by a 124.1% change in the company's Net Income Margin (%).| (LTM values as of) | 11302025 | 3132026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.15 | 13.87 | 24.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7 | 8 | 9.0% |
| Net Income Margin (%) | 4.3% | 9.5% | 124.1% |
| P/E Multiple | 96.0 | 48.9 | -49.1% |
| Shares Outstanding (Mil) | 3 | 3 | -0.1% |
| Cumulative Contribution | 24.4% |
Market Drivers
11/30/2025 to 3/13/2026| Return | Correlation | |
|---|---|---|
| MBBC | 24.4% | |
| Market (SPY) | -3.1% | 23.2% |
| Sector (XLF) | -8.3% | 6.6% |
Fundamental Drivers
The 34.3% change in MBBC stock from 8/31/2025 to 3/13/2026 was primarily driven by a 46.9% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 3132026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.33 | 13.87 | 34.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6 | 8 | 24.2% |
| Net Income Margin (%) | 7.2% | 9.5% | 33.4% |
| P/E Multiple | 33.3 | 48.9 | 46.9% |
| Shares Outstanding (Mil) | 1 | 3 | -44.8% |
| Cumulative Contribution | 34.3% |
Market Drivers
8/31/2025 to 3/13/2026| Return | Correlation | |
|---|---|---|
| MBBC | 34.3% | |
| Market (SPY) | 3.0% | 5.0% |
| Sector (XLF) | -9.1% | -2.8% |
Fundamental Drivers
The 2.4% change in MBBC stock from 2/28/2025 to 3/13/2026 was primarily driven by a 26.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282025 | 3132026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.55 | 13.87 | 2.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6 | 8 | 26.5% |
| P/S Multiple | 6.0 | 4.7 | -22.2% |
| Shares Outstanding (Mil) | 3 | 3 | 4.0% |
| Cumulative Contribution | 2.4% |
Market Drivers
2/28/2025 to 3/13/2026| Return | Correlation | |
|---|---|---|
| MBBC | 2.4% | |
| Market (SPY) | 12.4% | -1.9% |
| Sector (XLF) | -5.3% | -1.9% |
Fundamental Drivers
The 17.0% change in MBBC stock from 2/28/2023 to 3/13/2026 was primarily driven by a 281.0% change in the company's P/E Multiple.| (LTM values as of) | 2282023 | 3132026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.85 | 13.87 | 17.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 7 | 8 | 6.5% |
| Net Income Margin (%) | 19.3% | 9.5% | -50.5% |
| P/E Multiple | 12.8 | 48.9 | 281.0% |
| Shares Outstanding (Mil) | 2 | 3 | -41.7% |
| Cumulative Contribution | 17.0% |
Market Drivers
2/28/2023 to 3/13/2026| Return | Correlation | |
|---|---|---|
| MBBC | 17.0% | |
| Market (SPY) | 73.4% | |
| Sector (XLF) | 43.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MBBC Return | 7% | 5% | -17% | 50% | -13% | 14% | 38% |
| Peers Return | 41% | 1% | 2% | 21% | 18% | 5% | 117% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -1% | 80% |
Monthly Win Rates [3] | |||||||
| MBBC Win Rate | 67% | 58% | 42% | 58% | 50% | 67% | |
| Peers Win Rate | 72% | 47% | 45% | 53% | 62% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| MBBC Max Drawdown | 0% | -2% | -39% | -13% | -29% | -3% | |
| Peers Max Drawdown | -1% | -15% | -33% | -12% | -13% | -2% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -2% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ASB, WTFC, NIC, WSBF, FBIZ.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)
How Low Can It Go
| Event | MBBC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -42.4% | -25.4% |
| % Gain to Breakeven | 73.6% | 34.1% |
| Time to Breakeven | 411 days | 464 days |
Compare to ASB, WTFC, NIC, WSBF, FBIZ
In The Past
Marathon Bancorp's stock fell -42.4% during the 2022 Inflation Shock from a high on 3/2/2023. A -42.4% loss requires a 73.6% gain to breakeven.
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About Marathon Bancorp (MBBC)
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 comprising commercial real estate, commercial and industrial, construction, one-to-four-family residential, multi-family real estate, and consumer loans primarily in the Marathon County area of Wisconsin. The company was founded in 2020 and is based in Wausau, Wisconsin. Marathon Bancorp, Inc. operates as a subsidiary of Marathon MHC.
AI Analysis | Feedback
Here are 1-3 brief analogies for Marathon Bancorp (MBBC):
- It's like a mini Bank of America, but exclusively focused on Marathon County, Wisconsin.
- Think of it as the U.S. Bancorp of Marathon County, Wisconsin – a community-focused bank serving local needs.
AI Analysis | Feedback
- Deposit Products: Marathon Bank offers various deposit accounts including demand deposits, savings accounts, and certificates of deposit to its customers.
- Lending Products: The bank provides a range of loans such as commercial real estate, commercial and industrial, construction, one-to-four-family residential, multi-family real estate, and consumer loans.
AI Analysis | Feedback
```htmlMarathon Bancorp (MBBC), through its subsidiary Marathon Bank, serves a diverse customer base primarily within the Marathon County area of Wisconsin. As a community bank, it does not have a few "major customers" that are themselves large public companies. Instead, its customer base is composed of many individuals and businesses that utilize its deposit and lending products. Its customers fall into the following categories:
- Individual Consumers: Residents of Marathon County and surrounding areas who utilize deposit products such as demand deposits, savings accounts, and certificates of deposit, as well as lending products like one-to-four-family residential mortgages and various consumer loans.
- Small to Medium-Sized Businesses: Local companies and enterprises operating within the service area that require commercial banking services. These businesses use deposit products and lending products such as commercial real estate loans, commercial and industrial loans, and construction loans.
- Real Estate Investors and Developers: Entities, often local businesses or individuals, engaged in the development, acquisition, or ownership of commercial or multi-family properties. They are significant customers for commercial real estate, construction, and multi-family real estate loans.
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- The increasing prevalence and adoption of digital-only banks (neobanks) and various financial technology (fintech) companies offering deposit, lending, and payment solutions. These entities often provide more competitive rates, lower fees, and superior digital user experiences, directly threatening Marathon Bank's traditional customer base and market share in Marathon County, Wisconsin.
- The growing entry and expansion of large technology companies into financial services. Leveraging extensive customer bases and advanced technological infrastructure, these companies are beginning to offer banking-like products and services (e.g., payments, lending), which could significantly disrupt traditional banking relationships and customer loyalty that Marathon Bancorp relies upon.
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nullLatest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| How Low Can Marathon Bancorp Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 02282026 | NDAQ | Nasdaq | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 02272026 | JEF | Jefferies Financial | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 02272026 | PAYO | Payoneer Global | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 02272026 | FOUR | Shift4 Payments | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 02202026 | COIN | Coinbase Global | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 2.6% | 2.6% | -6.5% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 38.23 |
| Mkt Cap | 1.3 |
| Rev LTM | 280 |
| Op Inc LTM | - |
| FCF LTM | 105 |
| FCF 3Y Avg | 87 |
| CFO LTM | 108 |
| CFO 3Y Avg | 94 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.8% |
| Rev Chg 3Y Avg | 9.3% |
| Rev Chg Q | 15.4% |
| QoQ Delta Rev Chg LTM | 3.6% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 35.0% |
| CFO/Rev 3Y Avg | 34.3% |
| FCF/Rev LTM | 34.1% |
| FCF/Rev 3Y Avg | 32.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 1.3 |
| P/S | 3.0 |
| P/EBIT | - |
| P/E | 11.1 |
| P/CFO | 11.1 |
| Total Yield | 10.8% |
| Dividend Yield | 1.6% |
| FCF Yield 3Y Avg | 8.7% |
| D/E | 0.6 |
| Net D/E | -0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -6.3% |
| 3M Rtn | -1.7% |
| 6M Rtn | 6.4% |
| 12M Rtn | 21.2% |
| 3Y Rtn | 58.6% |
| 1M Excs Rtn | -3.9% |
| 3M Excs Rtn | 0.6% |
| 6M Excs Rtn | 2.6% |
| 12M Excs Rtn | -2.1% |
| 3Y Excs Rtn | -26.7% |
Price Behavior
Price Behavior
| Market Price | $13.87 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 04/19/2021 | |
| Distance from 52W High | -5.3% | |
| 50 Days | 200 Days | |
| DMA Price | $12.75 | $10.66 |
| DMA Trend | up | up |
| Distance from DMA | 8.8% | 30.1% |
| 3M | 1YR | |
| Volatility | 35.0% | 35.0% |
| Downside Capture | -5.34 | -27.70 |
| Upside Capture | 128.08 | -19.09 |
| Correlation (SPY) | 26.6% | -3.0% |
MBBC Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.74 | 0.92 | 0.59 | 0.07 | -0.04 | 0.14 |
| Up Beta | 3.94 | 2.39 | 2.27 | 1.04 | -0.11 | 0.33 |
| Down Beta | 0.67 | 1.07 | 0.90 | 0.27 | 0.22 | -0.22 |
| Up Capture | 67% | 100% | 74% | 19% | -7% | -7% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 6 | 15 | 26 | 55 | 102 | 167 |
| Down Capture | -113% | -16% | -86% | -96% | -32% | 113% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 6 | 14 | 20 | 40 | 85 | 154 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MBBC | |
|---|---|---|---|---|
| MBBC | 26.7% | 24.5% | 1.29 | - |
| Sector ETF (XLF) | 3.6% | 19.3% | 0.06 | 6.0% |
| Equity (SPY) | 19.6% | 18.9% | 0.81 | 8.0% |
| Gold (GLD) | 71.9% | 26.3% | 2.05 | 4.3% |
| Commodities (DBC) | 19.3% | 17.3% | 0.89 | 2.1% |
| Real Estate (VNQ) | 6.2% | 16.3% | 0.19 | 13.0% |
| Bitcoin (BTCUSD) | -15.3% | 44.2% | -0.25 | 8.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MBBC | |
|---|---|---|---|---|
| MBBC | 9.6% | 38.0% | 1.05 | - |
| Sector ETF (XLF) | 9.3% | 18.7% | 0.38 | 12.0% |
| Equity (SPY) | 13.1% | 17.0% | 0.61 | 5.5% |
| Gold (GLD) | 24.1% | 17.3% | 1.14 | -5.3% |
| Commodities (DBC) | 11.2% | 19.0% | 0.47 | -5.7% |
| Real Estate (VNQ) | 4.8% | 18.8% | 0.16 | 14.4% |
| Bitcoin (BTCUSD) | 6.3% | 56.7% | 0.33 | -0.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MBBC | |
|---|---|---|---|---|
| MBBC | 4.7% | 38.0% | 1.05 | - |
| Sector ETF (XLF) | 12.5% | 22.2% | 0.52 | 12.0% |
| Equity (SPY) | 14.5% | 17.9% | 0.70 | 5.5% |
| Gold (GLD) | 14.4% | 15.6% | 0.77 | -5.3% |
| Commodities (DBC) | 8.6% | 17.6% | 0.40 | -5.7% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 14.4% |
| Bitcoin (BTCUSD) | 67.4% | 66.8% | 1.07 | -0.9% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/11/2026 | 10-Q |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 09/26/2025 | 10-K |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-Q |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 09/26/2024 | 10-K |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 02/14/2024 | 10-Q |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 09/20/2023 | 10-K |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 02/14/2023 | 10-Q |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 09/28/2022 | 10-K |
| 03/31/2022 | 05/13/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Zillges, Nicholas W | President and CEO | Direct | Buy | 11282025 | 11.37 | 1,075 | 12,223 | 395,710 | Form |
| 2 | Zillges, Nicholas W | President and CEO | Direct | Buy | 11142025 | 11.00 | 1,325 | 14,575 | 371,005 | Form |
| 3 | Zillges, Nicholas W | President and CEO | Direct | Buy | 6162025 | 9.99 | 500 | 4,995 | 335,384 | Form |
| 4 | Zillges, Nicholas W | President and CEO | Direct | Buy | 5202025 | 10.07 | 500 | 5,034 | 332,982 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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