First Merchants Corporation (FRME)

First Merchants Statistics

Total Valuation

First Merchants has a market cap or net worth of $2.08 billion. The enterprise value is $2.98 billion.

Market Cap	2.08B
Enterprise Value	2.98B

Important Dates

The last earnings date was Wednesday, October 22, 2025, after market close.

Earnings Date	Oct 22, 2025
Ex-Dividend Date	Sep 5, 2025

Share Statistics

First Merchants has 57.73 million shares outstanding. The number of shares has decreased by -1.59% in one year.

Current Share Class	57.73M
Shares Outstanding	57.73M
Shares Change (YoY)	-1.59%
Shares Change (QoQ)	-0.56%
Owned by Insiders (%)	1.71%
Owned by Institutions (%)	76.81%
Float	56.74M

Valuation Ratios

The trailing PE ratio is 8.90 and the forward PE ratio is 8.92.

PE Ratio	8.90
Forward PE	8.92
PS Ratio	3.16
Forward PS	2.86
PB Ratio	0.85
P/TBV Ratio	1.24
P/FCF Ratio	n/a
P/OCF Ratio	n/a
PEG Ratio	n/a

Enterprise Valuation

EV / Earnings	12.87
EV / Sales	4.59
EV / EBITDA	n/a
EV / EBIT	n/a
EV / FCF	n/a

Financial Position

Current Ratio	n/a
Quick Ratio	n/a
Debt / Equity	n/a
Debt / EBITDA	n/a
Debt / FCF	n/a
Interest Coverage	n/a

Financial Efficiency

Return on equity (ROE) is 9.90%.

Return on Equity (ROE)	9.90%
Return on Assets (ROA)	1.26%
Return on Invested Capital (ROIC)	n/a
Return on Capital Employed (ROCE)	n/a
Revenue Per Employee	$306,410
Profits Per Employee	$109,156
Employee Count	2,120
Asset Turnover	n/a
Inventory Turnover	n/a

Taxes

In the past 12 months, First Merchants has paid $36.95 million in taxes.

Income Tax	36.95M
Effective Tax Rate	13.67%

Stock Price Statistics

The stock price has decreased by -3.53% in the last 52 weeks. The beta is 1.06, so First Merchants's price volatility has been similar to the market average.

Beta (5Y)	1.06
52-Week Price Change	-3.53%
50-Day Moving Average	38.79
200-Day Moving Average	39.24
Relative Strength Index (RSI)	39.75
Average Volume (20 Days)	337,205

Short Selling Information

Short Interest	n/a
Short Previous Month	n/a
Short % of Shares Out	n/a
Short % of Float	n/a
Short Ratio (days to cover)	n/a

Income Statement

In the last 12 months, First Merchants had revenue of $649.59 million and earned $231.41 million in profits. Earnings per share was $4.00.

Revenue	649.59M
Gross Profit	649.59M
Operating Income	291.99M
Pretax Income	270.24M
Net Income	231.41M
EBITDA	n/a
EBIT	n/a
Earnings Per Share (EPS)	$4.00

Balance Sheet

The company has $256.79 million in cash and $1.18 billion in debt, giving a net cash position of -$921.07 million or -$15.95 per share.

Cash & Cash Equivalents	256.79M
Total Debt	1.18B
Net Cash	-921.07M
Net Cash Per Share	-$15.95
Equity (Book Value)	2.41B
Book Value Per Share	41.74
Working Capital	-14.75B

Cash Flow

Operating Cash Flow	n/a
Capital Expenditures	n/a
Free Cash Flow	n/a
FCF Per Share	n/a

Margins

Gross Margin	n/a
Operating Margin	44.95%
Pretax Margin	41.60%
Profit Margin	35.91%
EBITDA Margin	n/a
EBIT Margin	n/a
FCF Margin	n/a

Dividends & Yields

This stock pays an annual dividend of $1.44, which amounts to a dividend yield of 4.04%.

Dividend Per Share	$1.44
Dividend Yield	4.04%
Dividend Growth (YoY)	2.90%
Years of Dividend Growth	13
Payout Ratio	35.48%
Buyback Yield	1.59%
Shareholder Yield	5.63%
Earnings Yield	11.25%
FCF Yield	n/a

Analyst Forecast

The average price target for First Merchants is $47.33, which is 31.33% higher than the current price. The consensus rating is "Buy".

Price Target	$47.33
Price Target Difference	31.33%
Analyst Consensus	Buy
Analyst Count	4
Revenue Growth Forecast (5Y)	n/a
EPS Growth Forecast (5Y)	n/a

Fair Value

There are several formulas that can be used to estimate the intrinsic value of a stock.

Lynch Fair Value
Lynch Upside
Graham Number
Graham Upside

Stock Splits

The last stock split was on August 27, 2003. It was a forward split with a ratio of 1.05:1.

Last Split Date	Aug 27, 2003
Split Type	Forward
Split Ratio	1.05:1

Scores

Altman Z-Score	n/a
Piotroski F-Score	2