FRME
First Merchants Corporation
$40.14
-0.09
(-0.22%)
Mkt Cap
2.53B
Volume
290,649
52W Range
34.66-43.22
Sector
Financial Services
Beta
0.87
EPS (TTM)
3.41
P/E Ratio
11.77
Revenue (TTM)
1.05B
Rev Growth (5Y)
+13.5%
EPS Growth (5Y)
+7.2%
AlphaVal · Fair Value
$55.52
Undervalued · Moderate
27.7% below fair value
AlphaQuality · Grade
B-
Banks, Insurers & Asset Managers
64.4 / 100 composite
Company Description
First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as public finance. The company also offers personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corporate services. It operates 109 banking locations in Indiana, Illinois, Ohio, and Michigan counties. The company also offers its services through electronic and mobile delivery channels. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana.
Track Record
Showing latest 4 periods • Swipe for more
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.05B | 1.05B | 999.49M | 712.95M | 555.96M | 558.43M | 552.09M | 484.40M | 385.90M | 318.51M | 281.55M | 270.69M |
| Net Income | 226.00M | 201.40M | 223.79M | 222.09M | 205.53M | 148.60M | 164.46M | 159.14M | 96.07M | 81.05M | 65.38M | 60.16M |
| EPS | 3.90 | 3.42 | 3.74 | 3.83 | 3.82 | 2.75 | 3.20 | 3.23 | 2.13 | 1.99 | 1.73 | 1.66 |
| Free Cash Flow | 283.65M | 266.21M | 258.83M | 284.29M | 215.34M | 204.81M | 176.73M | 180.24M | 126.50M | 103.72M | N/A | N/A |
| FCF / Share | 4.91 | 4.57 | 4.36 | 4.93 | 4.00 | 3.79 | 3.44 | 3.66 | 2.80 | 2.55 | N/A | N/A |
| Operating CF | 283.65M | 266.21M | 258.83M | 284.29M | 215.34M | 204.81M | 178.41M | 180.24M | 126.50M | 103.72M | N/A | N/A |
| Total Assets | 19.03B | 18.31B | 18.41B | 17.94B | 15.45B | 14.07B | 12.46B | 9.88B | 9.37B | 7.21B | N/A | N/A |
| Total Debt | 999.93M | 1.16B | 1.03B | 1.31B | 634.25M | 684.91M | 732.70M | 670.96M | 834.39M | 694.20M | N/A | N/A |
| Cash & Equiv | 84.16M | 386.51M | 548.73M | 248.66M | 641.30M | 585.20M | 295.46M | 176.21M | 189.93M | 152.39M | N/A | N/A |
| Book Value | 2.47B | 2.30B | 2.25B | 2.03B | 1.91B | 1.88B | 1.79B | 1.41B | 1.30B | 901.66M | N/A | N/A |
| Return on Equity | 0.09 | 0.09 | 0.10 | 0.11 | 0.11 | 0.08 | 0.09 | 0.11 | 0.07 | 0.09 | N/A | N/A |
| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 253.30M | 269.77M | 267.57M | 261.03M | 252.57M | 257.40M | 265.95M | 267.71M | 262.54M | 263.43M | 256.98M | 247.68M |
| Net Income | 28.16M | 57.06M | 56.77M | 56.83M | 55.34M | 64.35M | 49.19M | 39.92M | 47.94M | 42.48M | 56.37M | 60.86M |
| EPS | 0.46 | 0.99 | 0.98 | 0.98 | 0.95 | 1.10 | 0.84 | 0.68 | 0.80 | 0.71 | 0.95 | 1.02 |
| Free Cash Flow | 58.59M | 80.71M | 87.56M | 53.67M | 61.70M | 67.50M | 76.83M | 63.03M | 58.85M | 86.14M | 80.25M | 25.36M |
| FCF / Share | 0.96 | 1.41 | 1.52 | 0.93 | 1.06 | 1.16 | 1.32 | 1.08 | 1.00 | 1.45 | 1.35 | 0.43 |
| Operating CF | 58.59M | 80.71M | 87.56M | 53.67M | 61.70M | 67.50M | 76.83M | 63.03M | 58.85M | 86.14M | 80.25M | 25.36M |
| Total Assets | 21.07B | 19.03B | 18.81B | 18.59B | 18.44B | 18.31B | 18.35B | 18.30B | 18.32B | 18.41B | 18.00B | 17.97B |
| Total Debt | 1.64B | 999.93M | 1.18B | 1.16B | 1.34B | 1.16B | 1.08B | 1.17B | 861.65M | 1.03B | 1.02B | 1.03B |
| Cash & Equiv | 98.08M | 84.16M | 256.79M | 304.91M | 417.65M | 386.51M | 443.85M | 273.90M | 511.01M | 548.73M | 473.81M | 328.45M |
| Book Value | 2.67B | 2.47B | 2.41B | 2.35B | 2.33B | 2.30B | 2.30B | 2.21B | 2.22B | 2.25B | 2.09B | 2.15B |
| Return on Equity | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 |
FRME News
First Merchants (FRME) Could Be a Great Choice
First Merchants Corporation Appoints Paul Fultz to Its Boards of Directors
First Merchants Corporation Announces Cash Dividend
First Merchants Q1 Earnings Call Highlights
First Merchants Corporation (FRME) Q1 2026 Earnings Call Transcript
First Merchants (FRME) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
First Merchants (FRME) Beats Q1 Earnings Estimates
First Merchants Corporation Announces First Quarter 2026 Results
First Merchants (FRME) Could Be a Great Choice
First Merchants Corporation Announces Cash Dividend on Its Preferred Stock