FRME First Merchants PE ratio, current and historical analysis

The current P/E ratio for First Merchants stock as of Apr 21, 2025 is 10.21. This is calculated based on the TTM EPS of $3.42 and the stock price of $34.92 per share. The PE ratio has decreased by 9% from its last 4 quarters average of 11.2.

FRME PE ratio history

How has FRME's PE ratio performed in the past

The average historical PE ratio of First Merchants for the last ten years is 12.82. The current price-to-earnings ratio of 10.21 is 20% 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.

Today
10.21
Average
12.82
Median
11.83
Minimum
6.46
Maximum
19.75

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
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
Jun 2021 12.04 -21.05% $41.67 $3.46

FRME average PE ratio chart

What is the average PE ratio of FRME for the past years

The current PE ratio of FRME is above its 3-year average, but it is under its 5 and 10-year averages.

3-year avg
9.82
5-year avg
10.52
10-year avg
12.82
15-year avg
13.87

FRME PE vs peers

What is FRME's PE ratio compared to its peers

When compared to its peers ONB and LKFN, FRME's PE ratio is lower, but it is higher than SRCE's. First Merchants's PE ratio is trading below the peer average of 12.65.

Stock name PE ratio Market cap
SRCE 1St Source Corp 10.12 $1.33B
FRME First Merchants Corp 10.21 $2.04B
THFF First Financial Corp 10.97 $519.89M
ONB Old National Bancorp 11.36 $6.12B
GABC German American Bancorp Inc 12.49 $1.32B
LKFN Lakeland Financial Corp 14.32 $1.33B
HBNC Horizon Bancorp Inc 16.65 $593.76M

Frequently asked questions

What is First Merchants's PE ratio?

The price to earnings ratio for FRME stock as of Apr 21, 2025, stands at 10.21.

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 9.82.

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 10.52.

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 20% 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 (Apr 21, 2025), First Merchants's share price is $34.92. The company's earnings per share for the trailing twelve months (TTM) ending Dec 2024 is $3.42. Therefore, First Merchants's price to earnings ratio for today is 10.21. PE RATIO(10.21) = STOCK PRICE($34.92) / TTM EPS($3.42)

All PE ratio stats are based on quarterly TTM periods, unless otherwise specified. Data from and Sharadar.