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Company Analysis

First Merchants Corporation - D FRMEP

A comprehensive view of key metrics, scores, and financial health for First Merchants Corporation - D

Overview of First Merchants Corporation

FRMEP NMS
Financial Services Banks - Regional
First Merchants Corporation (FRMEP), in the Banks - Regional industry, last closed at $25.69, about 0.0% overvalued vs fair value, +0.0% 1Y return, placing in the top 25% of its sector.
Metrics Rev Growth 67.6% ROE 9.5% Gross Margin 61.0%
$25.69
-0.43%
As of April 28, 2026
Previous close • Vol 90d: 13.2%
52-Week Range
Enterprise Value
-
Overall Score
View breakdown
Overall
Growth
Fair
Profitability
Good
Health
Fair
Efficiency
Fair
Valuation
Excellent
Growth
Fair
Profitability
Good
Health
Fair
Efficiency
Fair
Valuation
Excellent
Completeness: 82%
Confidence: 42%
Updated: Mar 8
Top Beats
No strong beats yet

Quick Facts

Website https://www.firstmerchants.com
HQ Muncie, IN
Employees 2,086
Fiscal year Dec 31

Next Events

No upcoming events available.

Fair Value Snapshot

Insufficient data

Engine Room Money Flow™

Financial Services - Where revenue goes and how value is created

Flow Steps
Interest Income
$948.0M
6.1%%
Interest Expense
$388.8M
Net Interest Income
$521.1M
-4.5%%
Total Revenue
$1.1B
67.6%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Financial Services

Quality & Reliability Indicators

Return on Equity
8.8%
Fair

Net Income / Equity - key bank profitability metric

Locked Metric
-
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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

$131.7M
66.0% of Net Income

Where It Leaks

Cash Flow Health critical
Significant cash flow inefficiencies identified. Multiple high-impact leaks require attention.
1
Active Leaks
0/1
Improving
0
High Impact
1
Critical
Moat Analysis Bank Specialized

Competitive Advantage Assessment

Evaluating First Merchants Corporation - D's durable competitive advantages across 6 defense dimensions

Overall Moat Strength
53
/100
Moderate
Scores based on quantitative metrics and qualitative factors

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Deposit Franchise

Moderate
66
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For informational purposes only. Not investment advice.

Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Banks (Regional & Diversified) vs Industry Peers 83% Coverage
Trade-Off Triangle Visualization A ternary plot showing FRMEP's balance between Growth (24.6%), Profitability (36.6%), and Safety (38.9%). Growth 25% Safety 39% Profitability 37%

Click axes to expand details. Marker shows current allocation.

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Growth

33th percentile vs peers
33
Key Signals
Asset Growth YoY 3.9% 50p NII Growth YoY -4.5% 23p Equity Growth YoY 2.6% 20p
Strengths

No notable strengths identified for this axis.

Risks
  • Equity Growth YoY in bottom 20% of peers (2.6%)
  • Growth below peer median (percentile: 33)

Profitability

49th percentile vs peers
50
Key Signals
Strengths
Risks
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Safety

52th percentile vs peers
53
Key Signals
Strengths
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Two Futures

Scenario-based fair value ranges for First Merchants Corporation - D.

Loading valuation model...
Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

  • Recently listed companies (IPOs, SPACs)
  • Shell companies or holding companies
  • Companies that haven't filed recent financials
  • Foreign companies with limited data coverage
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Bear
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- upside
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Base
-
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- upside
-
Bull
-
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- upside
-
Fair Value Range Current: $-
$- $- $-
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