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Companies · FRME · National Commercial Banks

FIRST MERCHANTS CORP (FRME)

FIRST MERCHANTS CORP (FRME) stock — the fundamentals (P/E, market cap, valuation) and every material event, decoded in plain English.

FIRST MERCHANTS CORP (FRME) stock — financials & valuation

Key numbers for FIRST MERCHANTS CORP (FRME): P/E ratio, market cap, profit margins, returns, and whether the stock looks cheap or expensive versus its own 5-year range.

AllSight quality score: 45/100 — a percentile rank of FIRST MERCHANTS CORP’s fundamentals against Finance & Real Estate peers, weakest on growth. A quality ranking, not a price prediction.

Market cap$2.5B
P / E13.5×
P / S2.3×
EV / EBITDA19.0×
Gross margin63.4%
Operating margin18.9%
Net margin17.1%
Return on equity6.8%
ROIC4.5%
Revenue growth3.2%
Debt / equity0.6×
Dividend yield3.6%

Is FIRST MERCHANTS CORP overvalued? P/E looks overvalued vs its 5-year range; P/S looks fair vs its 5-year range; EV/EBITDA looks overvalued vs its 5-year range; P/B looks fair vs its 5-year range.

Independent of the events above — derived from FIRST MERCHANTS CORP’s own financial statements and shown as context, never as advice.

Sep 25, 2026$100M subordinated debt
First Merchants closes $100M subordinated note sale, adding capital at 6.75%
Sep 23, 2026$100M subordinated debt raise
First Merchants prices $100M subordinated notes, pairing capital with buyback optionality
Aug 14, 2026Dividend reaffirmed
No dividend boost: FRME simply keeps the payout at $0.37
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