FRME First Merchants PE ratio, current and historical analysis
- Stocks
- Financial Services
- NASDAQ: FRME
- PE Ratio
The current P/E ratio for First Merchants stock as of May 9, 2025 is 10.58. This is calculated based on the TTM EPS of $3.57 and the stock price of $37.76 per share. The PE ratio has decreased by 8% from its last 4 quarters average of 11.5.
FRME PE ratio history
The average historical PE ratio of First Merchants for the last ten years is 12.78. The current price-to-earnings ratio of 10.58 is 17% less than the historical average. Analyzing the last ten years, FRME's PE ratio reached its highest point in the Dec 2017 quarter at 19.75, when the price was $42.06 and the EPS was $2.13. The lowest point was recorded in the Jun 2023 quarter, when it reached 6.46 with a price of $28.23 and an EPS of $4.37.
First Merchants PE ratio by year
Maximum annual increase: 53.11% in 2013
Maximum annual decrease: -58.05% in 2012
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2024 | 11.66 | 17.66% | $39.89 | $3.42 |
| 2023 | 9.91 | -7.64% | $37.08 | $3.74 |
| 2022 | 10.73 | -2.19% | $41.11 | $3.83 |
| 2021 | 10.97 | -19.34% | $41.89 | $3.82 |
| 2020 | 13.6 | 4.62% | $37.41 | $2.75 |
| 2019 | 13 | 22.53% | $41.59 | $3.2 |
| 2018 | 10.61 | -46.28% | $34.27 | $3.23 |
| 2017 | 19.75 | 4.39% | $42.06 | $2.13 |
| 2016 | 18.92 | 28.8% | $37.65 | $1.99 |
| 2015 | 14.69 | 7.23% | $25.42 | $1.73 |
| 2014 | 13.7 | -14.38% | $22.75 | $1.66 |
| 2013 | 16 | 53.11% | $22.72 | $1.42 |
| 2012 | 10.45 | -58.05% | $14.84 | $1.42 |
| 2011 | 24.91 | 34.94% | $8.47 | $0.34 |
| 2010 | 18.46 | N/A | $8.86 | $0.48 |
First Merchants PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2025 | 11.33 | -2.83% | $40.44 | $3.57 |
| Dec 2024 | 11.66 | -5.36% | $39.89 | $3.42 |
| Sep 2024 | 12.32 | 15.79% | $37.2 | $3.02 |
| Jun 2024 | 10.64 | 5.77% | $33.29 | $3.13 |
| Mar 2024 | 10.06 | 1.51% | $34.9 | $3.47 |
| Dec 2023 | 9.91 | 51.07% | $37.08 | $3.74 |
| Sep 2023 | 6.56 | 1.55% | $27.82 | $4.24 |
| Jun 2023 | 6.46 | -21.79% | $28.23 | $4.37 |
| Mar 2023 | 8.26 | -23.02% | $32.95 | $3.99 |
| Dec 2022 | 10.73 | -2.37% | $41.11 | $3.83 |
| Sep 2022 | 10.99 | 5.47% | $38.68 | $3.52 |
| Jun 2022 | 10.42 | -4.58% | $35.62 | $3.42 |
| Mar 2022 | 10.92 | -0.46% | $41.6 | $3.81 |
| Dec 2021 | 10.97 | -1.17% | $41.89 | $3.82 |
| Sep 2021 | 11.1 | -7.81% | $41.84 | $3.77 |
FRME average PE ratio chart
The current PE ratio of FRME is above its 3 and 5-year averages, but it is under its 10-year average.
FRME PE vs peers
When compared to its peer stocks ONB and LKFN, FRME's PE ratio is lower. First Merchants's PE ratio is trading below the peer average of 13.21.
| Stock name | PE ratio | Market cap |
|---|---|---|
| FRME First Merchants Corp | 11.07 | $2.3B |
| SRCE 1St Source Corp | 11.2 | $1.57B |
| THFF First Financial Corp | 11.5 | $629.74M |
| ONB Old National Bancorp | 12.76 | $7.1B |
| GABC German American Bancorp Inc | 14.06 | $1.49B |
| HBNC Horizon Bancorp Inc | 15.22 | $698.06M |
| LKFN Lakeland Financial Corp | 17.56 | $1.58B |
Frequently asked questions
What is First Merchants's PE ratio?
The price to earnings ratio for FRME stock as of May 9, 2025, stands at 10.58.
What is the 3-year average PE ratio for First Merchants (FRME)?
As an average over the last 3 years, FRME stock has a PE ratio of 9.95.
What is the 5-year average PE ratio for First Merchants (FRME)?
As an average over the last 5 years, FRME stock has a PE ratio of 10.56.
What is the highest PE ratio for FRME?
The highest quarterly PE ratio in the last ten years has been 19.75 and it was in the Dec 2017 quarter.
How does the current PE ratio for FRME compare to its historical average?
The current PE ratio of FRME is 17% lower than the 10-year historical average.
How is FRME's PE ratio calculated (First Merchants PE ratio formula)?
The P/E ratio is calculated by taking the latest stock price and dividing it by the earnings per share(EPS) for the last 12 months. As of today (May 9, 2025), First Merchants's share price is $37.76. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2025 is $3.57. Therefore, First Merchants's price to earnings ratio for today is 10.58. PE RATIO(10.58) = STOCK PRICE($37.76) / TTM EPS($3.57)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.