The current P/E ratio for First Merchants stock as of May 1, 2024 is 9.85. This is calculated based on the TTM EPS of $3.47 and the stock price of $34.19 per share. The PE ratio has increased by 19% from its last 4 quarters average of 8.2.
The average historical PE ratio of First Merchants for the last ten years is 12.99. The current price-to-earnings ratio of 9.85 is 24% 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.
Maximum annual increase: 28.8% in 2016
Maximum annual decrease: -46.28% in 2018
| Year | PE ratio | Change |
|---|---|---|
| 2023 | 9.91 | -7.64% |
| 2022 | 10.73 | -2.19% |
| 2021 | 10.97 | -19.34% |
| 2020 | 13.6 | 4.62% |
| 2019 | 13 | 22.53% |
| 2018 | 10.61 | -46.28% |
| 2017 | 19.75 | 4.39% |
| 2016 | 18.92 | 28.8% |
| 2015 | 14.69 | 7.23% |
| 2014 | 13.7 | -14.38% |
The current PE ratio of FRME is under its 3, 5 and 10-year averages.
When compared to its peers LKFN and SRCE, FRME's PE ratio is lower, but it is higher than ONB's and THFF's. First Merchants's PE ratio is trading below the peer average of 12.07.
| Stock name | PE ratio | Market cap |
|---|---|---|
| THFF First Financial Corp | 7.33 | $439.72M |
| ONB Old National Bancorp | 9.11 | $5.4B |
| FRME First Merchants Corp | 9.89 | $2.01B |
| SRCE 1St Source Corp | 10.28 | $1.25B |
| GABC German American Bancorp Inc | 11.04 | $950.85M |
| LKFN Lakeland Financial Corp | 16.88 | $1.56B |
| HBNC Horizon Bancorp Inc | 19.27 | $543.89M |
The price to earnings ratio for FRME stock as of May 1, 2024, stands at 9.85.
As an average over the last 3 years, FRME stock has a PE ratio of 9.87.
As an average over the last 5 years, FRME stock has a PE ratio of 10.52.
The highest quarterly PE ratio in the last ten years has been 19.75 and it was in the Dec 2017 quarter.
The current PE ratio of FRME is 24% lower than the 10-year historical average.
FRME's PE ratio is low because the stock price is relatively cheap compared to the earnings generated by the company.
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 1, 2024), First Merchants's share price is $34.19. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2024 is $3.47. Therefore, First Merchants's price to earnings ratio for today is 9.85. PE RATIO(9.85) = STOCK PRICE($34.19) / TTM EPS($3.47)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.