Sunday 25 October 2026 Export FRME’s income statement to Excel — free account

First Merchants Corporation

First Merchants Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, down 2.04% from fiscal 2024. In the quarter to June 2026, revenue grew 14.2%, EPS fell 28.6%, free cash flow grew 64.0% and total debt rose 56.1%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

40.68 0.15 −0.37%

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Market cap: $2.6B
P/E: 13.0×
Fwd P/E: 12.6×
Dividend yield: 3.59%
F-score: 8/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Jun '26	Mar '26	Dec '25	Sep '25	Older periods
P/E ratio Full definition →	13.96	11.36	9.61	9.40	+8 more quarters Free account
P/S ratio Full definition →	2.50	2.23	2.05	2.04
P/FCF ratio Full definition →	8.64	8.38	7.59	7.97
P/Operating CF Full definition →	30.91	40.14	26.68	24.62
P/B ratio Full definition →	1.02	0.89	0.88	0.90
Price to Tangible BV Full definition →	1.48	1.29	1.26	1.30
EV/Sales Full definition →	3.31	3.29	2.60	2.60
EV/EBITDA Full definition →	0.00	0.00	0.00	0.00
EV/Operating CF Full definition →	11.45	12.35	9.62	10.19
EV/FCF Full definition →	11.45	12.35	9.62	10.19
Quick Ratio Full definition →	0.04	0.02	0.02	0.02
Current Ratio Full definition →	0.95	0.94	0.91	0.91
Net Debt/EBITDA Full definition →	0.00	0.00	0.00	0.00
Debt/Assets Full definition →	7.03%	6.58%	4.50%	4.55%
Debt/Equity Full definition →	0.56	0.52	0.35	0.35
Asset Turnover Full definition →	0.05	0.05	0.06	0.06
Operating CF/Net income Full definition →	2.02	2.12	1.43	1.56
Capex/Depreciation Full definition →	0.00	0.00	0.00	0.00
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	48.87%	50.21%	38.87%	37.13%
Intangible Assets out of Total Assets Full definition →	0.04	0.04	0.04	0.04
Share Based Compensation of Revenue Full definition →	0.62%	0.66%	0.89%	0.66%
Graham Net Nets Full definition →	(0.94)	(1.10)	(1.19)	(1.22)
Graham Number Full definition →	54.97	57.83	61.06	61.37
Earnings Yield Full definition →	7.16%	8.80%	10.41%	10.64%
Free Cash Flow Yield Full definition →	11.57%	11.93%	13.17%	12.54%
Revenue per Share Full definition →	4.78	4.19	4.71	4.68
Operating CF per Share Full definition →	1.41	0.96	1.40	1.53
Capex per Share Full definition →	0.00	0.00	0.00	0.00
Free Cash Flow per Share Full definition →	1.41	0.96	1.40	1.53
Cash per Share Full definition →	9.89	4.50	4.88	4.49
Shareholders Equity per Share Full definition →	43.30	44.01	42.93	42.19
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00
Book value per Share Full definition →	43.30	44.01	42.93	42.19
Free Cash Flow Full definition →	88.04	58.59	80.71	87.56
Working Capital Full definition →	(789.18)	(942.29)	(1,466.83)	(1,444.03)
Net Current Asset Value Full definition →	(2,566.56)	(2,578.29)	(2,568.41)	(2,633.45)
EV/EBIT Full definition →	0.00	0.00	0.00	0.00
Capex to Sales Full definition →	0.00	0.00	0.00	0.00
Price to Operating Income Full definition →	13.24	10.55	8.31	7.98
Other line items
Average Payables Full definition →	15,775.48	15,473.80	14,908.25	14,617.54
Average Assets Full definition →	19,970.78	19,756.16	18,668.54	18,579.59
Average Common Equity Full definition →	2,497.44	2,477.26	2,360.70	2,332.26

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Columns are period end dates

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