FRME · First Merchants Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $8.99M | - | - | - | $7.84M | - | - | - | $3.19M | - |
| Operating Income | $27.09M | - | $65.28M | $65.12M | $63.22M | - | $56.35M | $43.99M | $54.77M | - |
| Interest Expense | - | - | - | - | - | - | - | - | $108.84M | - |
| Income Tax | ($1.07M) | - | $8.52M | $8.29M | $7.88M | - | $7.16M | $4.07M | $6.83M | - |
| Net Income | $28.16M | - | $56.77M | $56.83M | $55.34M | - | $49.19M | $39.92M | $47.94M | - |
| EPS - Basic | $0.46 | - | $0.98 | $0.98 | $0.95 | - | $0.84 | $0.68 | $0.80 | - |
| EPS - Diluted | $0.45 | - | $0.98 | $0.98 | $0.94 | - | $0.84 | $0.68 | $0.80 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $98.08M | $84.16M | $88.08M | $81.57M | $86.11M | $87.62M | $84.72M | $105.37M | $100.51M | $112.65M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $21.07B | $19.03B | $18.81B | $18.59B | $18.44B | $18.31B | $18.35B | $18.30B | $18.32B | $18.41B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $18.40B | $16.56B | $16.40B | $16.24B | $16.11B | $16.01B | $16.05B | $16.09B | $16.09B | $16.16B |
| Stockholders' Equity | $2.67B | $2.47B | $2.41B | $2.35B | $2.33B | $2.30B | $2.30B | $2.21B | $2.22B | $2.25B |
| Retained Earnings | $1.42B | $1.41B | $1.38B | $1.34B | $1.31B | $1.27B | $1.23B | $1.20B | $1.18B | $1.15B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $58.59M | - | - | - | $61.70M | - | - | - | $58.85M | - |
| Investing Cash Flow | $368.07M | - | - | - | ($160.42M) | - | - | - | $82.88M | - |
| Financing Cash Flow | ($412.74M) | - | - | - | $97.22M | - | - | - | ($153.86M) | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | -3.9% | - | 13.0% | 12.7% | 12.5% | - | 12.7% | 9.2% | 12.5% | - |
| Return on assets | 0.1% | - | 0.3% | 0.3% | 0.3% | - | 0.3% | 0.2% | 0.3% | - |
| Return on equity | 1.1% | - | 2.4% | 2.4% | 2.4% | - | 2.1% | 1.8% | 2.2% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | 0.5x | - |
| Equity multiplier | 7.88 | 7.71 | 7.80 | 7.92 | 7.91 | 7.94 | 7.97 | 8.27 | 8.23 | 8.19 |
| Liabilities / Assets | 0.87 | 0.87 | 0.87 | 0.87 | 0.87 | 0.87 | 0.87 | 0.88 | 0.88 | 0.88 |
| Efficiency | ||||||||||
| Asset turnover | - | - | - | - | - | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 86.1x | - | 38.5x | 39.1x | 43.0x | - | 44.3x | 49.0x | 43.6x | - |
| P / B | 0.9x | - | 0.9x | 0.9x | 1.0x | - | 0.9x | 0.9x | 0.9x | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | 62.8x | - | - | - | 31.9x | - | - | - | 34.0x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -57.2% | - | 15.9% | 48.0% | 15.4% | - | -13.8% | -38.5% | -27.4% | - |
| Net income growth (YoY) | -49.1% | - | 15.4% | 42.3% | 15.4% | - | -12.7% | -34.4% | -25.2% | - |
| EPS growth (YoY) | -52.1% | - | 16.7% | 44.1% | 17.5% | - | -10.6% | -33.3% | -25.2% | - |
| EPS CAGR (3y) | -25.1% | - | -3.2% | 15.9% | 1.1% | - | -5.0% | -12.9% | -4.2% | - |
| EPS CAGR (5y) | -13.1% | - | 7.9% | 9.6% | 8.7% | - | 3.4% | -3.9% | 0.5% | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 14.6% | 7.0% | 4.8% | 6.1% | 4.8% | 2.5% | 10.0% | 3.1% | 4.8% | 10.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$94.47M totalFiduciary And Trust$35.49M · 37.6%
Deposit Account$34.26M · 36.3%
Credit Card$19.79M · 20.9%
Derivative Hedging$3.38M · 3.6%
Financial Service Other$1.54M · 1.6%
Peer comparison
Same SIC group: National Commercial Banks
Comparing FIRST MERCHANTS CORP against the 5 most active filers in the same SIC group.
Dividends
$1.44/share trailing 12 months · +2.9% YoY
| Ex-date | Per share |
|---|---|
| Mar 6, 2026 | $0.3600 |
| Dec 5, 2025 | $0.3600 |
| Sep 5, 2025 | $0.3600 |
| Jun 6, 2025 | $0.3600 |
| Mar 7, 2025 | $0.3500 |
| Dec 6, 2024 | $0.3500 |
| Sep 6, 2024 | $0.3500 |
| Jun 7, 2024 | $0.3500 |
| Feb 29, 2024 | $0.3400 |
| Nov 30, 2023 | $0.3400 |
| Aug 31, 2023 | $0.3400 |
| Jun 1, 2023 | $0.3400 |
| Mar 2, 2023 | $0.3200 |
| Dec 1, 2022 | $0.3200 |
| Sep 1, 2022 | $0.3200 |
| Jun 2, 2022 | $0.3200 |
| Mar 3, 2022 | $0.2900 |
| Dec 2, 2021 | $0.2900 |
| Sep 2, 2021 | $0.2900 |
| Jun 3, 2021 | $0.2900 |
| Mar 4, 2021 | $0.2600 |
| Dec 3, 2020 | $0.2600 |
| Sep 3, 2020 | $0.2600 |
| Jun 4, 2020 | $0.2600 |