First Merchants Financials

FRMEP Stock  USD 25.86  0.00  0.00%   
Based on the key indicators related to First Merchants' liquidity, profitability, solvency, and operating efficiency, First Merchants may be sliding down financialy. It has an above-average probability of going through some form of financial hardship next quarter. At this time, First Merchants' Net Debt is relatively stable compared to the past year. As of 01/05/2026, Retained Earnings is likely to grow to about 1.5 B, while Other Current Assets are likely to drop slightly above 820.6 M. Key indicators impacting First Merchants' financial strength include:
Current ValueLast YearChange From Last Year 10 Year Trend
Net Profit Margin0.140.17
Significantly Down
Slightly volatile
Return On Assets0.01140.0126
Moderately Down
Slightly volatile
Return On Equity0.10.0874
Fairly Up
Slightly volatile
Debt Equity Ratio0.950.58
Way Up
Slightly volatile
Operating Income279.8 M266.5 M
Sufficiently Up
Slightly volatile
Current Ratio0.0880.11
Significantly Down
Slightly volatile
The financial analysis of First Merchants is a critical element in measuring its lifeblood. Investors should not minimize First Merchants' ability to pay suppliers or employees on time, ensuring interest payments are not accumulating.

Net Income

243.19 Million

  
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Understanding current and past First Merchants Financials, including the trends in assets, liabilities, equity and income are directly related to making proper and timely investing decisions. All of First Merchants' financial statements are interrelated, with each one affecting the others. For example, an increase in First Merchants' assets may result in an increase in income on the income statement.

First Merchants Stock Summary

First Merchants competes with Merchants Bancorp, 1st Source, Lakeland Financial, First Commonwealth, and ST Bancorp. First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana. First Merchants operates under BanksRegional classification in the United States and is traded on NASDAQ Exchange. It employs 1821 people.
Specialization
Financial Services, Banks - Regional
InstrumentUSA Stock View All
ExchangeNASDAQ Exchange
ISINUS3208172086
Business Address200 East Jackson
SectorBanks
IndustryFinancials
BenchmarkDow Jones Industrial
Websitewww.firstmerchants.com
Phone765 747 1500
CurrencyUSD - US Dollar

First Merchants Key Financial Ratios

First Merchants Key Balance Sheet Accounts

202120222023202420252026 (projected)
Total Assets15.5B17.9B18.4B18.3B21.1B22.1B
Other Current Liab12.7B14.4B14.8B14.5B16.7B17.5B
Net Debt(7.1M)1.1B480.0M771.7M887.4M931.8M
Retained Earnings864.8M1.0B1.2B1.3B1.5B1.5B
Cash641.3M248.7M548.7M386.5M444.5M466.7M
Other Assets7.2B12.5B(1.1B)15.8B18.2B19.1B
Net Receivables57.2M85.1M97.7M91.8M105.6M110.9M
Total Liab13.5B15.9B16.2B16.0B18.4B19.3B
Total Current Assets3.0B2.3B2.3B1.9B2.1B2.3B
Short Term Debt181.6M339.0M157.3M242.1M278.4M153.8M
Intangible Assets25.5M35.8M27.1M19.8M22.8M17.9M
Accounts Payable2.8M7.5M18.9M16.1M18.5M19.4M
Other Current Assets652.4M734.7M451.4M751.1M863.8M820.6M
Common Stock6.7M7.4M7.4M7.2M8.3M4.5M
Other Liab40.7M45.3M109.4M81.2M93.4M68.1M
Net Tangible Assets1.2B1.3B1.3B1.3B1.5B1.3B
Long Term Debt452.7M975.0M871.5M916.1M1.1B733.3M
Inventory(652.4M)(734.7M)(451.4M)15.0M13.5M14.2M
Net Invested Capital2.4B3.0B3.1B3.2B3.7B2.9B
Capital Stock6.8M32.5M32.6M32.4M37.2M19.6M

First Merchants Key Income Statement Accounts

The reason investors look at the income statement is to determine what First Merchants' earnings per share (EPS) will be in order to see if they want to buy more shares or not. For example, if a company earned $20 million in the last quarter and has 100,000 shares outstanding, its EPS is 20 cents. If you find that this number beats analysts' forecasts or is higher than it was from the same period last year, then you might want to buy more of this stock even though its price per share may not have changed.
202120222023202420252026 (projected)
Operating Income240.8M255.7M259.2M231.7M266.5M279.8M
Ebit240.8M255.7M259.2M231.7M266.5M279.8M
Ebitda251.5M267.5M270.9M258.6M297.4M312.2M
Net Income205.5M222.1M223.8M201.4M231.6M243.2M
Income Tax Expense35.3M33.6M35.4M30.3M34.9M36.6M
Interest Expense36.0M84.8M348.5M426.9M490.9M515.5M
Total Revenue556.0M712.9M999.5M1.1B1.2B1.3B
Gross Profit520.0M611.4M647.5M591.0M679.7M713.6M
Cost Of Revenue36.0M101.6M352.0M462.6M532.0M558.6M
Income Before Tax240.8M255.7M259.2M231.7M266.5M279.8M
Tax Provision35.3M33.6M43.7M30.3M34.9M35.0M
Net Interest Income410.7M520.2M564.3M521.1M599.3M486.2M
Interest Income446.6M605.0M847.9M948.0M1.1B655.2M

First Merchants Key Cash Accounts

202120222023202420252026 (projected)
Change In Cash(25.8M)(44.6M)(9.9M)(25.0M)(28.8M)(27.3M)
Free Cash Flow143.1M268.0M258.8M266.2M306.1M321.4M
Depreciation10.7M11.8M11.7M26.8M30.9M32.4M
Other Non Cash Items(12.0M)42.6M16.0M33.1M38.1M40.0M
Dividends Paid61.2M74.2M81.9M83.5M96.0M100.8M
Net Income205.5M222.1M223.8M201.4M231.6M243.2M
End Period Cash Flow167.1M122.6M112.6M87.6M100.8M111.9M
Investments(1.5B)(446.4M)(275.6M)(252.4M)(290.3M)(304.8M)
Net Borrowings(50.7M)485.5M(285.2M)129.4M148.8M156.3M
Change To Netincome6.0M67.5M(7.2M)47.3M54.4M28.4M

First Financial Ratios Relationships

Comparative valuation techniques use various fundamental indicators to help in determining First Merchants's current stock value. Our valuation model uses many indicators to compare First Merchants value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across First Merchants competition to find correlations between indicators driving First Merchants's intrinsic value. More Info.
First Merchants is rated below average in return on equity category among its peers. It is rated below average in return on asset category among its peers reporting about  0.13  of Return On Asset per Return On Equity. The ratio of Return On Equity to Return On Asset for First Merchants is roughly  7.86 . At this time, First Merchants' Return On Equity is relatively stable compared to the past year. Comparative valuation analysis is a catch-all technique that is used if you cannot value First Merchants by discounting back its dividends or cash flows. It compares the stock's price multiples to nearest competition to determine if the stock is relatively undervalued or overvalued.

First Merchants Systematic Risk

First Merchants' systematic risk plays a vital role in portfolio allocation when considering its stock to be added to a well-diversified portfolio. First Merchants volatility which cannot be eliminated through diversification, requires returns over the risk-free rate. Over the long run, a well-diversified portfolio provides returns that match its exposure to systematic risk. In this case, investors face a trade-off between expected returns and systematic risk and, therefore, can only reduce a portfolio's exposure to systematic risk by sacrificing expected returns on the portfolio.
The output start index for this execution was three with a total number of output elements of fifty-eight. The Beta measures systematic risk based on how returns on First Merchants correlated with the market. If Beta is less than 0 First Merchants generally moves in the opposite direction as compared to the market. If First Merchants Beta is about zero movement of price series is uncorrelated with the movement of the benchmark. if Beta is between zero and one First Merchants is generally moves in the same direction as, but less than the movement of the market. For Beta = 1 movement of First Merchants is generally in the same direction as the market. If Beta > 1 First Merchants moves generally in the same direction as, but more than the movement of the benchmark.
Today, most investors in First Merchants Stock are looking for potential investment opportunities by analyzing not only static indicators but also various First Merchants' growth ratios. Consistent increases or decreases in fundamental ratios usually indicate a possible pattern that can be successfully translated into profits. However, when comparing two companies, knowing each company's growth growth rates may not be enough to decide which company is a better investment. That's why investors frequently use static breakdown of First Merchants growth as a starting point in their analysis.

Price Earnings To Growth Ratio

(1.15)

At this time, First Merchants' Price Earnings To Growth Ratio is relatively stable compared to the past year.

First Merchants January 5, 2026 Opportunity Range

Along with financial statement analysis, the daily predictive indicators of First Merchants help investors to analyze its daily demand and supply, volume, patterns, and price swings to determine the real value of First Merchants. We use our internally-developed statistical techniques to arrive at the intrinsic value of First Merchants based on widely used predictive technical indicators. In general, we focus on analyzing First Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build First Merchants's daily price indicators and compare them against related drivers.

Additional Tools for First Stock Analysis

When running First Merchants' price analysis, check to measure First Merchants' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy First Merchants is operating at the current time. Most of First Merchants' value examination focuses on studying past and present price action to predict the probability of First Merchants' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move First Merchants' price. Additionally, you may evaluate how the addition of First Merchants to your portfolios can decrease your overall portfolio volatility.