20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.
First Merchants Corporation (FRME) operates in the BANKS - REGIONAL industry and is headquartered in Muncie, United States with about 2,086 employees. Its market capitalization is roughly $3 billion. In the fiscal year ended 2025-12-31, FRME reported $1.1B in revenue and $226M in net income.
First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides commercial and consumer banking services.
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| Income statement | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $1.1B | $1.1B | $1.1B | $999M | $713M | $556M | $558M | $552M | $484M | $386M | $319M | $282M | $271M | $227M | $240M | $230M | $248M | $288M | $259M | $271M | $243M |
| Gross Profit | $640M | $640M | $591M | $648M | $611M | $520M | $433M | $441M | $408M | $339M | $286M | $256M | $246M | $204M | $198M | $170M | $146M | $89M | $140M | $145M | $138M |
| Gross Margin % | 58.8% | 61.0% | 56.1% | 64.8% | 85.8% | 93.5% | 77.6% | 79.8% | 84.2% | 87.9% | 89.8% | 91.0% | 91.0% | 89.8% | 82.5% | 73.7% | 58.7% | 30.9% | 54.2% | 53.5% | 56.9% |
| Operating Income (EBIT) | $206M | $259M | $232M | $259M | $256M | $241M | $170M | $194M | $188M | $134M | $109M | $91M | $82M | $60M | $61M | $34M | $3M | ($69M) | $29M | $43M | $42M |
| Operating Margin % | 18.9% | 24.7% | 22.0% | 25.9% | 35.9% | 43.3% | 30.4% | 35.1% | 38.8% | 34.6% | 34.1% | 32.3% | 30.4% | 26.6% | 25.4% | 14.7% | 1.3% | -24.0% | 11.1% | 15.8% | 17.4% |
| Net Income | $186M | $226M | $201M | $224M | $222M | $206M | $149M | $164M | $159M | $96M | $81M | $65M | $60M | $45M | $45M | $25M | $7M | ($41M) | $21M | $32M | $30M |
| Net Margin % | 17.1% | 21.5% | 19.1% | 22.4% | 31.1% | 37.0% | 26.6% | 29.8% | 32.9% | 24.9% | 25.4% | 23.2% | 22.2% | 19.6% | 18.8% | 11.0% | 2.8% | -14.1% | 8.0% | 11.7% | 12.4% |
| EBITDA | $229M | $289M | $259M | $271M | $267M | $251M | $181M | $203M | $197M | $142M | $116M | $97M | $88M | $65M | $65M | $39M | $9M | ($63M) | $33M | $47M | $48M |
| Earnings Per Share (EPS) | $3.15 | $3.92 | $3.44 | $3.76 | $3.83 | $3.81 | $2.74 | $3.19 | $3.22 | $2.12 | $1.98 | $1.72 | $1.65 | $1.48 | $1.56 | $0.95 | $0.28 | $-1.93 | $1.14 | $1.73 | $1.64 |
| Shares Outstanding (M) | 63M | 58M | 59M | 59M | 58M | 54M | 54M | 52M | 49M | 45M | 41M | 38M | 37M | 30M | 29M | 27M | 25M | 21M | 18M | 18M | 18M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly income statement | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | $298M | $253M | $270M | $268M | $261M | $253M | $257M | $266M |
| Gross Profit | $163M | $151M | $164M | $162M | $159M | $156M | $153M | $151M |
| Gross Margin % | 54.7% | 59.7% | 60.9% | 60.5% | 60.8% | 61.8% | 59.4% | 56.8% |
| Operating Income (EBIT) | $48M | $27M | $65M | $65M | $65M | $63M | $77M | $56M |
| Operating Margin % | 16.3% | 10.7% | 24.3% | 24.4% | 24.9% | 25.0% | 29.8% | 21.2% |
| Net Income | $44M | $28M | $57M | $57M | $57M | $55M | $64M | $49M |
| Net Margin % | 14.8% | 11.1% | 21.1% | 21.2% | 21.8% | 21.9% | 25.0% | 18.5% |
| EBITDA | $48M | $36M | $71M | $73M | $73M | $71M | $93M | $60M |
| Earnings Per Share (EPS) | $0.70 | $0.46 | $0.99 | $0.99 | $0.98 | $0.95 | $1.10 | $0.84 |
| Shares Outstanding (M) | 63M | 61M | 57M | 57M | 58M | 58M | 58M | 58M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Cash flow | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $315M | $284M | $266M | $259M | $268M | $207M | $205M | $178M | $180M | $127M | $104M | $57M | $76M | $183M | $70M | $85M | $81M | $18M | $39M | $50M | $36M |
| Capital Expenditures (CapEx) | $0M | $0M | $0M | $0M | $0M | $64M | $0M | $312M | $9M | $432M | $10M | $325M | $146M | $54M | $109M | $14M | $0M | $0M | $0M | $0M | $0M |
| Free Cash Flow (FCF) | $315M | $284M | $266M | $259M | $268M | $143M | $205M | ($134M) | $171M | ($306M) | $94M | ($269M) | ($70M) | $129M | ($38M) | $72M | $81M | $18M | $39M | $50M | $36M |
| FCF Margin % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends Paid | $90M | $85M | $83M | $82M | $74M | $61M | $57M | $51M | $42M | $32M | $22M | $16M | $11M | $8M | $7M | $5M | $6M | $14M | $17M | $17M | $17M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly cash flow | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $88M | $59M | $81M | $88M | $54M | $62M | $68M | $77M |
| Free Cash Flow (FCF) | $88M | $59M | $81M | $88M | $54M | $62M | $68M | $77M |
| FCF Margin % | — | — | — | — | — | — | — | — |
| Dividends Paid | $24M | $23M | $21M | $21M | $21M | $21M | $21M | $21M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Balance sheet | 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $21.3B | $19.0B | $18.3B | $18.4B | $17.9B | $15.5B | $14.1B | $12.5B | $9.9B | $9.4B | $7.2B | $6.8B | $5.8B | $5.4B | $4.3B | $4.2B | $4.2B | $4.5B | $4.8B | $3.8B | $3.6B |
| Cash & Cash Equivalents | $616M | $84M | $387M | $549M | $249M | $641M | $585M | $295M | $176M | $190M | $152M | $134M | $166M | $165M | $140M | $126M | $116M | $151M | $123M | $160M | $101M |
| Total Liabilities | $18.7B | $16.6B | $16.0B | $16.2B | $15.9B | $13.5B | $12.2B | $10.7B | $8.5B | $8.1B | $6.3B | $5.9B | $5.1B | $4.8B | $3.8B | $3.7B | $3.7B | $4.0B | $4.4B | $3.4B | $3.2B |
| Total Debt (Short + Long-Term) | $103M | $1.0B | $1.2B | $1.0B | $1.8B | $826M | $921M | $382M | $788M | $1.0B | $866M | $696M | $381M | $497M | $375M | $450M | $424M | $429M | $496M | $336M | $371M |
| Total Shareholders' Equity | $2.7B | $2.5B | $2.3B | $2.2B | $2.0B | $1.9B | $1.9B | $1.8B | $1.4B | $1.3B | $902M | $851M | $727M | $635M | $552M | $514M | $454M | $464M | $396M | $340M | $327M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive FRME viewer.
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