stockrowFirst Merchants Corporation
FRME Financial Banks Regional
First Merchants Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, down 2.04% from fiscal 2024.
- Revenue
- +12.9%
- EPS
- +11.2%
- Free cash flow
- −10.5%
- Total debt
- +27.1%
Quarter to September 2026, against a year earlier
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First Merchants Corporation (FRME) Net margin
First Merchants Corporation's net margin over the twelve months to 30 September 2026 was 17.4%, down 3.9 percentage points from fiscal 2025 (21.3%). Over the past ten years it has ranged from 18.6% (fiscal 2024) to 37.0% (fiscal 2021); the current reading is higher than 18% of that period. That is below the Banks Regional industry median of 18.8% and above the Financial sector median of 14.3%.
Net margin, annual
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Annual newest first
| Period | Net margin | Change (points) |
|---|---|---|
| FY2025 | 21.3% | 2.72 |
| FY2024 | 18.6% | (3.61) |
| FY2023 | 22.2% | (8.75) |
| FY2022 | 31.0% | (6.02) |
| FY2021 | 37.0% | 10.36 |
| FY2020 | 26.6% | (3.18) |
| FY2019 | 29.8% | (3.06) |
| FY2018 | 32.9% | 7.96 |
| FY2017 | 24.9% | (0.56) |
| FY2016 | 25.5% | 2.99 |
Quarterly newest first
| Period | Net margin | Change (points) |
|---|---|---|
| Sep 2026 | 22.5% | 7.87 |
| Jun 2026 | 14.6% | 3.72 |
| Mar 2026 | 10.9% | (10.04) |
| Dec 2025 | 20.9% | (0.12) |
| 43 more quarters | Free account |
Against its own ten years
Net margin against peers
| Company | Net margin |
|---|---|
| FBNC First Bancorp compare | 26.7% |
| SYBT Stock Yards Bancorp, Inc. compare | 25.9% |
| NBTB NBT Bancorp Inc. compare | 22.9% |
| BANR Banner Corporation compare | 22.8% |
| FBK FB Financial Corporation compare | 22.6% |
| TRMK Trustmark Corporation compare | 21.1% |
| BOH Bank of Hawaii Corporation compare | 20.9% |
| FRME First Merchants Corporation | 17.4% |
| BBT Beacon Financial Corporation compare | 17.4% |
| Banks Regional industry median | 18.8% |
| Financial sector median | 14.3% |
| Market median | 1.06% |
What Net margin is
Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.
Net Income Allotted to Shareholders ÷ Revenue
More on FRME
- Revenue
- Net income
- EPS (diluted)
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement