First Historical Income Statement

FRMEP Stock

USD 25.53 0.18 0.71%

Historical analysis of First Merchants income statement accounts such as EBIT of 272.2 M or Ebitda of 284.5 M can show how well First Merchants performed in making a profits. Evaluating First Merchants income statement over time to spot trends is a great complementary tool to traditional technical analysis and can indicate the direction of First Merchants's future profits or losses.

Cash Flow Balance Sheet Income Statement

Oil Shock

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Housing Crash

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Yuan Drop

Covid

Financial Statement Analysis is much more than just reviewing and examining First Merchants latest accounting reports to predict its past. Macroaxis encourages investors to analyze financial statements over time for various trends across multiple indicators and accounts to determine whether First Merchants is a good buy for the upcoming year.

Net Income Gross Profit

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Merchants. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

To learn how to invest in First Stock, please use our How to Invest in First Merchants guide.

About First Income Statement Analysis

First Merchants Income Statement consists of revenues and expenses along with the resulting net income or loss. It represents the profit for the accounting period attributable to First Merchants shareholders. The income statement also shows First investors and management if the firm made money during the period reported. The result of an income statement is the net income that is calculated after subtracting the expenses from revenue. It is essential to investors both as an absolute measure as well as earnings per share (i.e., EPS).

First Merchants Income Statement Chart

At this time, First Merchants' Depreciation And Amortization is relatively stable compared to the past year. As of 11/26/2024, Interest Expense is likely to grow to about 365.9 M, while Net Interest Income is likely to drop slightly above 471.7 M.

Other Operating Expenses Operating Income Ebitda Income Tax Expense

Other Operating Expenses

Other Operating Expenses is the expense which generally does not depend on sales or production quantities of First Merchants. It is also known as First Merchants overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.

Operating Income

Operating Income is the amount of profit realized from First Merchants operations after accounting for operating expenses such as cost of goods sold (COGS), wages and depreciation. Operating income takes the gross income and subtracts other operating expenses and then removes depreciation. Operating Income of First Merchants is typically a synonym for earnings before interest and taxes (EBIT) and is also commonly referred to as operating profit or recurring profit. Earnings before interest and taxes (EBIT), representing the amount of profit a company generates from its operations.

Most accounts from First Merchants' income statement are interrelated and interconnected. However, analyzing income statement accounts one by one will only give a small insight into First Merchants current financial condition. On the other hand, looking into the entire matrix of income statement accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Merchants. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

To learn how to invest in First Stock, please use our How to Invest in First Merchants guide.At this time, First Merchants' Depreciation And Amortization is relatively stable compared to the past year. As of 11/26/2024, Interest Expense is likely to grow to about 365.9 M, while Net Interest Income is likely to drop slightly above 471.7 M.

	2021	2022	2023	2024 (projected)
Operating Income	240.8M	340.5M	259.2M	272.2M
Other Operating Expenses	279.2M	287.7M	736.9M	773.8M

Operating Income Other Operating Expenses

First Merchants income statement Correlations

	Other Operating Expenses	Operating Income	Ebit	Ebitda	Total Operating Expenses	Net Income	Income Tax Expense	Depreciation And Amortization	Interest Expense	Selling General Administrative	Total Revenue	Gross Profit	Income Before Tax	Total Other Income Expense Net	Selling And Marketing Expenses	Cost Of Revenue	Tax Provision	Net Interest Income	Interest Income	Net Income From Continuing Ops	Reconciled Depreciation
Other Operating Expenses		0.66	0.72	0.73	0.74	0.8	0.6	0.79	0.95	0.88	0.85	0.85	0.79	-0.04	0.79	-0.87	0.67	0.82	0.84	0.78	0.81
Operating Income	0.66		0.97	0.98	0.18	0.95	0.85	0.87	0.56	0.9	0.94	0.94	0.96	-0.13	0.9	-0.41	0.51	0.74	0.61	0.7	0.39
Ebit	0.72	0.97		1.0	0.25	0.96	0.89	0.87	0.62	0.91	0.94	0.94	0.97	-0.08	0.9	-0.48	0.52	0.68	0.6	0.67	0.51
Ebitda	0.73	0.98	1.0		0.26	0.96	0.88	0.88	0.63	0.92	0.95	0.95	0.97	-0.07	0.91	-0.49	0.52	0.69	0.61	0.68	0.52
Total Operating Expenses	0.74	0.18	0.25	0.26		0.3	0.15	0.32	0.87	0.46	0.35	0.35	0.29	-0.35	0.26	-0.89	0.68	0.55	0.68	0.59	0.55
Net Income	0.8	0.95	0.96	0.96	0.3		0.81	0.93	0.69	0.94	0.98	0.98	1.0	0.02	0.96	-0.54	0.57	0.79	0.7	0.76	0.62
Income Tax Expense	0.6	0.85	0.89	0.88	0.15	0.81		0.69	0.48	0.81	0.83	0.83	0.85	-0.08	0.78	-0.39	0.46	0.52	0.46	0.54	0.39
Depreciation And Amortization	0.79	0.87	0.87	0.88	0.32	0.93	0.69		0.66	0.92	0.95	0.95	0.91	0.03	0.91	-0.53	0.47	0.8	0.68	0.72	0.69
Interest Expense	0.95	0.56	0.62	0.63	0.87	0.69	0.48	0.66		0.78	0.73	0.73	0.68	-0.1	0.68	-0.92	0.7	0.77	0.85	0.75	0.72
Selling General Administrative	0.88	0.9	0.91	0.92	0.46	0.94	0.81	0.92	0.78		0.99	0.99	0.95	-0.05	0.95	-0.67	0.61	0.85	0.78	0.8	0.65
Total Revenue	0.85	0.94	0.94	0.95	0.35	0.98	0.83	0.95	0.73	0.99		1.0	0.98	0.02	0.97	-0.59	0.55	0.82	0.73	0.76	0.64
Gross Profit	0.85	0.94	0.94	0.95	0.35	0.98	0.83	0.95	0.73	0.99	1.0		0.98	0.02	0.97	-0.59	0.55	0.82	0.73	0.76	0.64
Income Before Tax	0.79	0.96	0.97	0.97	0.29	1.0	0.85	0.91	0.68	0.95	0.98	0.98		0.01	0.96	-0.54	0.57	0.78	0.68	0.75	0.61
Total Other Income Expense Net	-0.04	-0.13	-0.08	-0.07	-0.35	0.02	-0.08	0.03	-0.1	-0.05	0.02	0.02	0.01		0.2	0.22	-0.49	-0.23	-0.17	-0.37	0.23
Selling And Marketing Expenses	0.79	0.9	0.9	0.91	0.26	0.96	0.78	0.91	0.68	0.95	0.97	0.97	0.96	0.2		-0.52	0.44	0.77	0.69	0.68	0.62
Cost Of Revenue	-0.87	-0.41	-0.48	-0.49	-0.89	-0.54	-0.39	-0.53	-0.92	-0.67	-0.59	-0.59	-0.54	0.22	-0.52		-0.58	-0.61	-0.64	-0.6	-0.63
Tax Provision	0.67	0.51	0.52	0.52	0.68	0.57	0.46	0.47	0.7	0.61	0.55	0.55	0.57	-0.49	0.44	-0.58		0.78	0.82	0.92	0.45
Net Interest Income	0.82	0.74	0.68	0.69	0.55	0.79	0.52	0.8	0.77	0.85	0.82	0.82	0.78	-0.23	0.77	-0.61	0.78		0.95	0.96	0.58
Interest Income	0.84	0.61	0.6	0.61	0.68	0.7	0.46	0.68	0.85	0.78	0.73	0.73	0.68	-0.17	0.69	-0.64	0.82	0.95		0.91	0.62
Net Income From Continuing Ops	0.78	0.7	0.67	0.68	0.59	0.76	0.54	0.72	0.75	0.8	0.76	0.76	0.75	-0.37	0.68	-0.6	0.92	0.96	0.91		0.55
Reconciled Depreciation	0.81	0.39	0.51	0.52	0.55	0.62	0.39	0.69	0.72	0.65	0.64	0.64	0.61	0.23	0.62	-0.63	0.45	0.58	0.62	0.55

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First Merchants Account Relationship Matchups

First Merchants income statement Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Other Operating Expenses	249.6M	322.1M	279.2M	287.7M	736.9M	773.8M
Operating Income	193.8M	170.0M	240.8M	340.5M	259.2M	272.2M
Ebit	193.8M	170.0M	240.8M	255.7M	259.2M	272.2M
Ebitda	199.8M	181.0M	251.5M	267.5M	270.9M	284.5M
Total Operating Expenses	(249.6M)	(322.1M)	(279.2M)	(287.7M)	651.0M	683.6M
Net Income	164.5M	148.6M	205.5M	222.1M	223.8M	235.0M
Income Tax Expense	29.3M	21.4M	35.3M	33.6M	35.4M	37.2M
Depreciation And Amortization	6.0M	11.0M	10.7M	11.8M	11.7M	12.3M
Interest Expense	108.7M	66.4M	36.0M	84.8M	348.5M	365.9M
Selling General Administrative	144.8M	161.7M	173.2M	217.1M	243.4M	255.6M
Total Revenue	443.3M	492.1M	520.0M	628.1M	654.3M	687.0M
Gross Profit	443.3M	492.1M	520.0M	628.1M	654.3M	687.0M
Income Before Tax	193.8M	170.0M	240.8M	255.7M	259.2M	272.2M
Total Other Income Expense Net	193.8M	170.0M	(32.3M)	(84.8M)	(55.2M)	(58.0M)
Selling And Marketing Expenses	6.7M	6.6M	5.8M	7.7M	7.4M	7.8M
Tax Provision	29.3M	21.4M	35.3M	33.6M	43.7M	35.2M
Net Interest Income	356.7M	382.1M	410.7M	520.2M	564.3M	471.7M
Interest Income	465.4M	448.5M	446.6M	605.0M	847.9M	590.6M
Net Income From Continuing Ops	164.5M	148.6M	205.5M	222.1M	252.1M	211.2M
Reconciled Depreciation	9.4M	11.0M	10.7M	8.3M	11.7M	11.0M
Net Income Applicable To Common Shares	164.5M	148.6M	205.5M	220.7M	253.8M	197.7M

Pair Trading with First Merchants

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if First Merchants position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in First Merchants will appreciate offsetting losses from the drop in the long position's value.

Moving together with First Stock

0.65	AX	Axos Financial	Pair Corr
0.66	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.71	PB	Prosperity Bancshares Fiscal Year End 22nd of January 2025	Pair Corr

Moving against First Stock

0.73	WF	Woori Financial Group	Pair Corr
0.44	TFC-PO	Truist Financial	Pair Corr
0.37	TFC-PR	Truist Financial	Pair Corr
0.31	CFG-PE	Citizens Financial	Pair Corr

The ability to find closely correlated positions to First Merchants could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Merchants when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back First Merchants - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling First Merchants to buy it.

The correlation of First Merchants is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Merchants moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Merchants moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for First Merchants can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

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.

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First Historical Income Statement

About First Income Statement Analysis

First Merchants Income Statement Chart

Other Operating Expenses

Operating Income

First Merchants income statement Correlations

First Merchants Account Relationship Matchups

High Positive Relationship

High Negative Relationship

First Merchants income statement Accounts

Pair Trading with First Merchants

Moving together with First Stock

Moving against First Stock

Additional Tools for First Stock Analysis

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Ebitda	+ 1.0	Ebit
Income Before Tax	+ 1.0	Net Income
Gross Profit	+ 1.0	Total Revenue
Total Revenue	+ 0.99	Selling General Administrative
Gross Profit	+ 0.99	Selling General Administrative
Ebitda	+ 0.98	Operating Income

Cost Of Revenue	- 0.92	Interest Expense
Cost Of Revenue	- 0.89	Total Operating Expenses
Cost Of Revenue	- 0.87	Other Operating Expenses
Cost Of Revenue	- 0.67	Selling General Administrative
Interest Income	- 0.64	Cost Of Revenue
Reconciled Depreciation	- 0.63	Cost Of Revenue