FRMENasdaqNational Commercial BanksFiscal year ends December 31Also trades as FRMEP
FIRST MERCHANTS CORP
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 31, 2026
$39.38−0.22 (-0.56%)
Close on Oct 19, 2026
- Market cap
- $2.40B
- P/E (TTM)
- 11.6
- Dividend yield
- 3.63%
First Merchants statistics
Financials through Mar 31, 2026, price as of Oct 19, 2026, median of National Commercial Banks companies for comparison
Valuation
| Measure | First Merchants | Industry median |
|---|---|---|
| Market Cap | $2.47B | $679.86M |
| Enterprise Value | $2.38B | $408.94M |
| PE Ratio | 11.58 | 12.00 |
| PS Ratio | 3.75 | 3.61 |
| PB Ratio | 0.93 | 1.18 |
| P/TBV Ratio | 1.34 | 1.41 |
| P/OCF Ratio | 8.82 | 10.04 |
Enterprise value
| Measure | First Merchants | Industry median |
|---|---|---|
| EV / Sales | 3.60 | 2.78 |
Income (trailing twelve months)
| Measure | First Merchants | Industry median |
|---|---|---|
| Revenue | $659.76M | $170.85M |
| Pretax Income | $222.99M | $70.12M |
| Net Income | $198.82M | $54.33M |
| EPS (Diluted) | $3.40 | $2.90 |
Margins
| Measure | First Merchants | Industry median |
|---|---|---|
| Pretax Margin | 33.8% | 36.4% |
| Profit Margin | 30.1% | 29.1% |
Returns
| Measure | First Merchants | Industry median |
|---|---|---|
| Return on Equity (ROE) | 7.95% | 10.5% |
| Return on Assets (ROA) | 1.01% | 1.12% |
Growth
| Measure | First Merchants | Industry median |
|---|---|---|
| Revenue Growth (YoY) | 0.99% | 11.8% |
| Net Income Growth (YoY) | -4.78% | 23.1% |
| EPS Growth (YoY) | -4.49% | 22.7% |
| Revenue Growth (3Y CAGR) | 1.81% | 5.82% |
| Revenue Growth (5Y CAGR) | 6.14% | 6.17% |
| EPS Growth (3Y CAGR) | 0.61% | 1.26% |
| EPS Growth (5Y CAGR) | 7.21% | 8.24% |
Balance sheet
| Measure | First Merchants | Industry median |
|---|---|---|
| Cash & Short-Term Investments | $98.08M | $205.54M |
| Net Cash (Debt) | $98.08M | $164.40M |
| Net Cash Per Share | $1.56 | $8.13 |
| Equity (Book Value) | $2.67B | $560.44M |
| Book Value Per Share | $42.56 | $28.47 |
| Tangible Book Value | $1.85B | $472.29M |
Cash flow (trailing twelve months)
| Measure | First Merchants | Industry median |
|---|---|---|
| Operating Cash Flow | $280.54M | $61.20M |
Efficiency
| Measure | First Merchants | Industry median |
|---|---|---|
| Asset Turnover | 0.03 | 0.04 |
| Revenue Per Employee | $316.28K | $353.78K |
| Profits Per Employee | $95.31K | $107.28K |
| Employee Count | 2,086 | 489 |
Dividends and yields
| Measure | First Merchants | Industry median |
|---|---|---|
| Earnings Yield | 8.04% | 8.07% |
| Dividend Yield | 3.63% | 2.48% |
| Buyback Yield | 2.58% | 1.55% |
| Shareholder Yield | 6.22% | 3.13% |
| Dividend Per Share | $1.43 | $0.93 |
| Dividend Growth (YoY) | 2.88% | 4.26% |
| Years of Dividend Growth | 11 | 2 |
| Payout Ratio | 42.9% | 29.4% |
Shares
| Measure | First Merchants | Industry median |
|---|---|---|
| Shares Outstanding | 62,801,400 | 18,839,100 |
| Shares Change (YoY) | 0.25% | 0.39% |
| Shares Change (QoQ) | 9.76% | 0.00% |
| Float | 61,449,000 | 17,061,900 |
| Shares Held by Insiders | 2.15% | 5.89% |
| Shares Held by Institutions | 74.3% | 61.9% |
Taxes
| Measure | First Merchants | Industry median |
|---|---|---|
| Income Tax | $24.17M | $14.50M |
| Effective Tax Rate | 10.8% | 21.1% |
Scores
| Measure | First Merchants | Industry median |
|---|---|---|
| Graham Number | $57.06 | $45.31 |
| Graham Upside | 44.9% | 21.6% |
| Altman Z-Score | 0.21 | 0.21 |
| Piotroski F-Score | 7 | 6 |
Calculated by StockData from First Merchants's SEC filings and the latest closing price. Hover a measure to see its formula. The grey column is the median of companies in the same industry group (two-digit SIC code); green or red marks a better or worse value than that median.