First Merchants Corporation (FRME)

First Merchants Statistics

Total Valuation

First Merchants has a market cap or net worth of $2.41 billion. The enterprise value is $3.26 billion.

Market Cap	2.41B
Enterprise Value	3.26B

Important Dates

The last earnings date was Wednesday, July 23, 2025, after market close.

Earnings Date	Jul 23, 2025
Ex-Dividend Date	Sep 5, 2025

Share Statistics

First Merchants has 57.73 million shares outstanding. The number of shares has decreased by -1.74% in one year.

Current Share Class	57.73M
Shares Outstanding	57.73M
Shares Change (YoY)	-1.74%
Shares Change (QoQ)	-0.81%
Owned by Insiders (%)	1.70%
Owned by Institutions (%)	77.47%
Float	56.75M

Valuation Ratios

The trailing PE ratio is 10.84 and the forward PE ratio is 10.89.

PE Ratio	10.84
Forward PE	10.89
PS Ratio	3.78
Forward PS	3.35
PB Ratio	1.03
P/TBV Ratio	1.51
P/FCF Ratio	n/a
P/OCF Ratio	9.28
PEG Ratio	n/a

Enterprise Valuation

EV / Earnings	14.59
EV / Sales	5.11
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)	1.22%
Return on Invested Capital (ROIC)	n/a
Return on Capital Employed (ROCE)	n/a
Revenue Per Employee	$301,284
Profits Per Employee	$105,581
Employee Count	2,120
Asset Turnover	n/a
Inventory Turnover	n/a

Taxes

In the past 12 months, First Merchants has paid $35.60 million in taxes.

Income Tax	35.60M
Effective Tax Rate	13.62%

Stock Price Statistics

The stock price has increased by +14.70% in the last 52 weeks. The beta is 1.08, so First Merchants's price volatility has been similar to the market average.

Beta (5Y)	1.08
52-Week Price Change	+14.70%
50-Day Moving Average	38.98
200-Day Moving Average	40.00
Relative Strength Index (RSI)	67.66
Average Volume (20 Days)	232,851

Short Selling Information

The latest short interest is 566,052, so 0.98% of the outstanding shares have been sold short.

Short Interest	566,052
Short Previous Month	669,856
Short % of Shares Out	0.98%
Short % of Float	1.00%
Short Ratio (days to cover)	1.67

Income Statement

In the last 12 months, First Merchants had revenue of $638.72 million and earned $223.83 million in profits. Earnings per share was $3.85.

Revenue	638.72M
Gross Profit	638.72M
Operating Income	284.34M
Pretax Income	211.03M
Net Income	223.83M
EBITDA	n/a
EBIT	n/a
Earnings Per Share (EPS)	$3.85

Balance Sheet

The company has $362.47 million in cash and $1.22 billion in debt, giving a net cash position of -$855.16 million or -$14.81 per share.

Cash & Cash Equivalents	362.47M
Total Debt	1.22B
Net Cash	-855.16M
Net Cash Per Share	-$14.81
Equity (Book Value)	2.35B
Book Value Per Share	40.56
Working Capital	-14.59B

Cash Flow

Operating Cash Flow	259.71M
Capital Expenditures	n/a
Free Cash Flow	n/a
FCF Per Share	n/a

Margins

Gross Margin	n/a
Operating Margin	44.52%
Pretax Margin	40.91%
Profit Margin	35.34%
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 3.63%.

Dividend Per Share	$1.44
Dividend Yield	3.63%
Dividend Growth (YoY)	2.90%
Years of Dividend Growth	13
Payout Ratio	36.86%
Buyback Yield	1.74%
Shareholder Yield	5.37%
Earnings Yield	9.29%
FCF Yield	n/a

Analyst Forecast

The average price target for First Merchants is $46.67, which is 11.81% higher than the current price. The consensus rating is "Buy".

Price Target	$46.67
Price Target Difference	11.81%
Analyst Consensus	Buy
Analyst Count	3
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	4