First Merchants Corporation

FRME | NASDAQ

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$40.65

-$0.25 (-0.61%)

At close: Sep 22, 2026, 4:00 PM ET

$40.65

$0 (0.00%)

After-hours: Sep 22, 2026, 7:30 PM ET

Overview Rating Statistics Financials Earnings Analysts Ownership Dividends Profile

Market Data

Market Cap $2.57B

Enterprise Value $264.15M

Beta 0.85

Average Volume 396.4K

Shares Outstanding (Diluted) 62.57M

Shares Change YoY 8.31%

Institutional Ownership 75.62%

Exchange NASDAQ

ISIN US3208171096

Price Performance

Price Change 1M -3.4%

Price Change 3M -2.4%

Price Change 6M 7.1%

Price Change YTD 9.1%

Price Change 1Y 2.6%

Price Change 3Y 49.4%

Price Change 5Y 1.1%

1M CAGR (ann.) -3.1%

1Y CAGR (ann.) 3.6%

5Y CAGR (ann.) 4.5%

All-Time CAGR 5.5%

Valuation

PE Ratio 13.07

Forward PE 9.86

PEG Ratio -0.68

Forward PEG 0.34

PS Ratio 3.06

Forward PS 3.00

PB Ratio 0.95

P/FCF Ratio 9.16

P/Adj. FCF Ratio 9.40

P/OCF Ratio 8.13

EV/Sales 0.31

EV/EBIT 1.28

EV/EBITDA 1.16

EV/FCF 0.94

Earnings Yield 7.7%

FCF Yield 10.9%

Adj. FCF Yield 10.6%

Financial Health

Net Cash $2.3B

Total Debt $1.6B

Cash & Short-Term Investments $3.91B

Total Assets $21.35B

Current Ratio 0.24

Quick Ratio 0.24

Debt / Equity Ratio 0.59

Debt / EBITDA 7.02

Debt / FCF 5.72

OCF / Debt 0.17

Interest Coverage 0.52

Altman Z-Score -0.47

Piotroski F-Score 5

Margins & Profitability

Gross Profit Margin 58.8%

Operating Profit Margin 24.5%

EBITDA Margin 21.0%

Net Profit Margin 17.1%

FCF Margin 33.4%

Adj. FCF Margin 32.5%

SBC / Revenue 0.7%

SBC Impact (per share) -2.6%

Returns

Return on Assets 0.9%

Return on Equity 7.3%

Return on Invested Capital 4.1%

Return on Capital Employed 4.6%

Return on Tangible Assets 0.9%

Historical Growth (CAGR)

Revenue CAGR 3Y -1.8%

Revenue CAGR 5Y 8.8%

Revenue CAGR 10Y 10.9%

EPS CAGR 3Y -10.4%

EPS CAGR 5Y -1.9%

EPS CAGR 10Y 6.0%

FCF CAGR 3Y -2.8%

FCF CAGR 5Y 8.7%

FCF CAGR 10Y 16.0%

Analyst Forecasts

Analyst Rating Buy

Analyst Count 12

EPS Growth Next 3Y N/A

Revenue Growth Next 3Y N/A

Earnings Date Oct 27, 2026

EPS Estimate (next Q) $1.03

EPS Growth Est (next Q) 4.0%

Revenue Est (next Q) $203.98M

Revenue Growth Est (next Q) 22.8%

Fair Value Estimates

Graham Number $55.09

Graham Upside 34.7%

Lynch Fair Value $15.65

Lynch Upside -61.7%

Price Target $47

Price Target Upside 14.9%

Cash Flow

Operating Cash Flow $280.54M

Free Cash Flow $280.54M

Adj. Free Cash Flow $273.12M

FCF Per Share $5.03

OCF Per Share $5.03

OCF/S Ratio 28.9%

Income Statement

Revenue $840.77M

Gross Profit $527.34M

Operating Income $205.62M

EBITDA $228.32M

Net Income $185.97M

EPS (Diluted) $3.13

Revenue / Employee $403.05K

Profit / Employee $89.15K

Employees 2,086

Dividends

Annual Dividend $4.26

Dividend Yield 10.42%

Payout Ratio 136.1%

FCF Payout Ratio 31.1%

Adj. FCF Payout Ratio 31.9%

Dividend Growth (YoY) 17.0%

Pay Frequency Monthly

Ex-Dividend Date Sep 3, 2026