First Merchants Corporation Depository Shares (FRMEP)

Price$25.06

Value ScoreC

Growth ScoreC

Momentum ScoreD

Favorite Metrics

Price vs S&P 500 (26W)0.46%

Price vs S&P 500 (4W)-1.18%

VGM Score46.50

Market Capitalization$2.52B

P/E Ratio (Annual)11.13x

Indicated Dividend Yield (Annual)3.69%

All Metrics

P/CF (Annual)8.87x

Book Value / Share (Quarterly)$42.76

P/TBV (Annual)0.88x

Indicated Dividend (Annual)$1.48

Revenue Growth (3Y)9.14%

Cash Flow / Share (Quarterly)$4.49

Payout Ratio (TTM)43.82%

Price vs S&P 500 (YTD)-1.62%

Net Profit Margin (TTM)37.76%

EPS (TTM)$3.43

10-Day Avg Trading Volume0.33M

EPS Excl Extra (TTM)$3.43

Revenue Growth (5Y)13.95%

EPS (Annual)$3.92

Dividend / Share (Annual)$1.48

ROI (Annual)8.47%

Net Profit Margin (5Y Avg)35.96%

Cash / Share (Quarterly)$2.11

P/E Basic Excl Extra (TTM)12.66x

Revenue Growth QoQ (YoY)40.28%

EPS Growth (5Y)7.39%

P/E Normalized (Annual)11.13x

ROA (Last FY)1.19%

Revenue Growth TTM (YoY)61.80%

EBITD / Share (TTM)$5.77

ROE (5Y Avg)9.90%

Operating Margin (TTM)44.30%

Cash Flow / Share (Annual)$4.98

P/B Ratio0.94x

P/B Ratio (Quarterly)0.91x

Net Income / Employee (Annual)$108,300

ROA (TTM)1.03%

EPS Growth QoQ (YoY)-51.43%

EV / EBITDA (TTM)11.34x

EPS Incl Extra (Annual)$3.92

3-Month Avg Trading Volume0.40M

52-Week Price Return9.25%

EV / Free Cash Flow (Annual)10.09x

P/E Incl Extra (TTM)12.66x

Tangible BV / Share (Quarterly)$42.09

P/S Ratio (Annual)2.94x

52-Week High$43.22

EPS Excl Extra (Annual)$3.92

Tangible BV CAGR (5Y)5.85%

26-Week Price Return8.39%

13-Week Price Return3.58%

Total Debt / Equity (Annual)0.08x

Enterprise Value$2.86B

Revenue / Share Growth (5Y)7.16%

Book Value / Share Growth (5Y)4.52%

Revenue / Employee (Annual)$318,450,700,000

Pretax Margin (Annual)40.70%

Cash / Share (Annual)$2.07

3-Month Return Std Dev21.50%

Net Income / Employee (TTM)$95,300

EBITDA CAGR (5Y)15.72%

EBITDA Interim CAGR (5Y)10.87%

ROE (Last FY)9.16%

EPS Basic Excl Extra (Annual)$3.92

P/FCF (TTM)8.97x

EV / Free Cash Flow (TTM)10.20x

Total Debt / Equity (Quarterly)0.13x

EPS Incl Extra (TTM)$3.43

ROI (TTM)7.17%

Dividend Growth Rate (5Y)7.31%

P/S Ratio (TTM)2.76x

Pretax Margin (5Y Avg)41.95%

Revenue / Share (Annual)$10.84

Tangible BV / Share (Annual)$43.07

Forward P/E9.23x

Free OCF CAGR (5Y)6.84%

Price vs S&P 500 (52W)-15.12%

P/E Ratio (TTM)12.66x

EPS Growth TTM (YoY)-4.37%

Year-to-Date Return6.54%

5-Day Price Return1.01%

EPS Normalized (Annual)$3.92

ROA (5Y Avg)1.22%

Net Profit Margin (Annual)35.36%

Month-to-Date Return-0.92%

Cash Flow / Share (TTM)$4.41

EBITD / Share (Annual)$5.00

EPS Growth (3Y)0.74%

Operating Margin (Annual)40.70%

LT Debt / Equity (Annual)0.02x

P/CF (TTM)8.97x

ROI (5Y Avg)8.58%

P/E Excl Extra (TTM)12.66x

LT Debt / Equity (Quarterly)0.03x

EPS Basic Excl Extra (TTM)$3.43

P/TBV (Quarterly)0.92x

Payout Ratio (Annual)37.52%

P/B Ratio (Annual)0.88x

Dividend / Share (TTM)$1.45

Pretax Margin (TTM)44.30%

Book Value / Share (Annual)$43.31

Price vs S&P 500 (13W)-4.67%

Net Margin Growth (5Y)4.01%

Dividend Yield (TTM)3.46%

Beta0.88x

P/FCF (Annual)8.87x

Revenue / Share (TTM)$11.23

ROE (TTM)8.03%

52-Week Low$34.66

vGradeC

gGradeC

mGradeD

vgmGradeC

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Analyst Recommendations

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May 2026

3.91

3.92

Industry Peers — National Banks(117)

Symbol	Value Score	Growth Score	Momentum Score	Price
FRMEPFirst Merchants Corporation Depository Shares	C	C	D	$25.06
JPMJPMorgan Chase & Co.	D	C	C	$312.37
BACBank of America Corporation	C	C	C	$53.83
WFCWells Fargo & Co.	D	C	D	$81.94
CCitigroup Inc.	C	C	A	$132.47
MFGMizuho Financial Group, Inc. American Depositary Shares (Each representing one-fifth of an Ordinary Share)	D	B	A	$9.52
UBSUBS Group AG	C	C	B	$47.01
COFCapital One Financial	C	D	F	$180.67
PNCPNC Financial Services Group	D	C	B	$228.37
USBU.S. Bancorp	B	C	C	$55.69
TFCTruist Financial Corporation	B	C	C	$49.20

About

First Merchants Corp is a community bank providing personal and business banking, mortgage lending, cash management, wealth management, and insurance services through its local subsidiary network. The company operates as a single community banking segment.