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

First 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. 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%
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

First Merchants Corporation (FRME) P/E ratio

Alert me on P/E ratio

As of 23 October 2026, First Merchants Corporation (FRME) trades at a P/E ratio of 13.0×. Over the past ten years it has ranged from 6.2× (October 2023) to 21.2× (February 2017); the current reading is higher than 59% of that period. That is above the Banks Regional industry median of 12.3× and in line with the Financial sector median of 12.5×.

P/E ratio, daily

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Annual newest first

Period P/E ratio Change
FY2025 9.6× (17.61%)
FY2024 11.7× 17.70%
FY2023 9.9× (7.43%)
FY2022 10.7× (2.38%)
FY2021 11.0× (19.39%)
FY2020 13.6× 4.67%
FY2019 13.0× 22.50%
FY2018 10.6× (46.06%)
FY2017 19.7× 3.84%
FY2016 18.9× 28.93%

Quarterly newest first

Period P/E ratio Change
Jun 2026 14.0× 22.90%
Mar 2026 11.4× 18.18%
Dec 2025 9.6× 2.22%
Sep 2025 9.4× (5.00%)
42 more quarters

Against its own ten years

Low 6.2× High 21.2×
Ten-year median 12.2×
Current reading's percentile 64

P/E ratio against peers

Company P/E ratio
BBAR BBVA Banco Frances S.A. compare 9.6×
CUBI Customers Bancorp, Inc compare 10.0×
BANR Banner Corporation compare 11.5×
FBK FB Financial Corporation compare 11.8×
BUSE First Busey Corporation compare 12.5×
FRME First Merchants Corporation 13.0×
SYBT Stock Yards Bancorp, Inc. compare 15.6×
BBT Beacon Financial Corporation compare 16.5×
FBNC First Bancorp compare 20.1×
Banks Regional industry median 12.3×
Financial sector median 12.5×
Market median 18.4×

What P/E ratio is

Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.

Stock Price ÷ EPS (Basic) (TTM)

The full definition of P/E ratio →

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