First Merchants Corporation

FRME | NASDAQ

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$40.59

-$0.50 (-1.22%)

At close: Oct 30, 2026, 4:00 PM ET

$40.59

$0.00 (0.00%)

Pre-market: Nov 2, 2026, 5:59 AM ET

Overview Rating Statistics Financials Earnings Analysts Ownership Dividends Profile

Market Data

Market Cap $2.55B

Enterprise Value $263.61M

Beta 0.88

Average Volume 461.49K

Shares Outstanding (Diluted) 62.41M

Shares Change YoY 8.64%

Institutional Ownership 75.75%

Exchange NASDAQ

ISIN US3208171096

Price Performance

Price Change 1M 2.0%

Price Change 3M -5.9%

Price Change 6M 0.4%

Price Change YTD 8.3%

Price Change 1Y 14.4%

Price Change 3Y 48.6%

Price Change 5Y -2.4%

1M CAGR (ann.) -0.7%

1Y CAGR (ann.) 18.2%

5Y CAGR (ann.) 2.5%

All-Time CAGR 7.2%

Valuation

PE Ratio 12.53

Forward PE 10.01

PEG Ratio -0.65

Forward PEG -0.79

PS Ratio 2.27

Forward PS 3.00

PB Ratio 0.97

P/FCF Ratio 8.10

P/Adj. FCF Ratio 8.30

P/OCF Ratio 8.28

EV/Sales 0.23

EV/EBIT 1.20

EV/EBITDA 1.08

EV/FCF 0.84

Earnings Yield 8.0%

FCF Yield 12.3%

Adj. FCF Yield 12.1%

Financial Health

Net Cash $2.29B

Total Debt $1.19B

Cash & Short-Term Investments $3.47B

Total Assets $21.06B

Current Ratio 0.21

Quick Ratio 0.21

Debt / Equity Ratio 0.45

Debt / EBITDA 4.86

Debt / FCF 3.77

OCF / Debt 0.27

Interest Coverage 0.55

Altman Z-Score -0.49

Piotroski F-Score 4

Margins & Profitability

Gross Profit Margin 60.0%

Operating Profit Margin 19.6%

EBITDA Margin 21.8%

Net Profit Margin 17.6%

FCF Margin 28.0%

Adj. FCF Margin 27.4%

SBC / Revenue 0.5%

SBC Impact (per share) -2.5%

Returns

Return on Assets 0.9%

Return on Equity 7.5%

Return on Invested Capital 4.8%

Return on Capital Employed 5.5%

Return on Tangible Assets 1.0%

Historical Growth (CAGR)

Revenue CAGR 3Y 5.7%

Revenue CAGR 5Y 14.9%

Revenue CAGR 10Y 13.8%

EPS CAGR 3Y -8.4%

EPS CAGR 5Y -2.9%

EPS CAGR 10Y 6.0%

FCF CAGR 3Y 3.3%

FCF CAGR 5Y 11.3%

FCF CAGR 10Y 19.5%

Analyst Forecasts

Analyst Rating Buy

Analyst Count 2

EPS Growth Next 3Y N/A

Revenue Growth Next 3Y N/A

Earnings Date Jan 25, 2027

EPS Estimate (next Q) $1.00

EPS Growth Est (next Q) 2.0%

Revenue Est (next Q) $205.31M

Revenue Growth Est (next Q) 15.1%

Fair Value Estimates

Graham Number $55.49

Graham Upside 36.7%

Lynch Fair Value $16.20

Lynch Upside -60.1%

Price Target $46.00

Price Target Upside 13.3%

Cash Flow

Operating Cash Flow $314.9M

Free Cash Flow $314.9M

Adj. Free Cash Flow $307.19M

FCF Per Share $4.90

OCF Per Share $4.90

OCF/S Ratio 27.2%

Income Statement

Revenue $1.12B

Gross Profit $674.25M

Operating Income $220.55M

EBITDA $244.51M

Net Income $197.52M

EPS (Diluted) $3.24

Revenue / Employee $538.36K

Profit / Employee $94.69K

Employees 2,086

Dividends

Annual Dividend $4.26

Dividend Yield 10.50%

Payout Ratio 131.5%

FCF Payout Ratio 28.4%

Adj. FCF Payout Ratio 29.1%

Dividend Growth (YoY) 17.0%

Pay Frequency Monthly

Ex-Dividend Date Sep 4, 2026