FIRST MERCHANTS CORP - FRME 7 1/2 PERP (FRMEP) Fundamental Analysis & Valuation

NASDAQ:FRMEP • US3208172086

Current stock price

25.45 USD
+0.05 (+0.2%)
Last:

This FRMEP fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. FRMEP Profitability Analysis

1.1 Basic Checks

  • In the past year FRMEP was profitable.
  • In the past year FRMEP had a positive cash flow from operations.
  • FRMEP had positive earnings in each of the past 5 years.
  • Each year in the past 5 years FRMEP had a positive operating cash flow.
FRMEP Yearly Net Income VS EBIT VS OCF VS FCFFRMEP Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M

1.2 Ratios

  • With a decent Return On Assets value of 1.18%, FRMEP is doing good in the industry, outperforming 72.34% of the companies in the same industry.
  • FRMEP has a Return On Equity of 9.09%. This is comparable to the rest of the industry: FRMEP outperforms 46.54% of its industry peers.
Industry RankSector Rank
ROA 1.18%
ROE 9.09%
ROIC N/A
ROA(3y)1.16%
ROA(5y)1.21%
ROE(3y)9.21%
ROE(5y)9.84%
ROIC(3y)N/A
ROIC(5y)N/A
FRMEP Yearly ROA, ROE, ROICFRMEP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

1.3 Margins

  • With an excellent Profit Margin value of 33.81%, FRMEP belongs to the best of the industry, outperforming 87.23% of the companies in the same industry.
  • FRMEP's Profit Margin has improved in the last couple of years.
  • FRMEP does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 33.81%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-1.28%
PM growth 5Y2.28%
GM growth 3YN/A
GM growth 5YN/A
FRMEP Yearly Profit, Operating, Gross MarginsFRMEP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

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3

2. FRMEP Health Analysis

2.1 Basic Checks

  • FRMEP does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • The number of shares outstanding for FRMEP has been reduced compared to 1 year ago.
  • FRMEP has more shares outstanding than it did 5 years ago.
  • FRMEP has a better debt/assets ratio than last year.
FRMEP Yearly Shares OutstandingFRMEP Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M 40M 50M
FRMEP Yearly Total Debt VS Total AssetsFRMEP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

2.2 Solvency

  • The Debt to FCF ratio of FRMEP is 0.71, which is an excellent value as it means it would take FRMEP, only 0.71 years of fcf income to pay off all of its debts.
  • With a decent Debt to FCF ratio value of 0.71, FRMEP is doing good in the industry, outperforming 75.27% of the companies in the same industry.
  • A Debt/Equity ratio of 0.08 indicates that FRMEP is not too dependend on debt financing.
  • FRMEP has a Debt to Equity ratio of 0.08. This is in the better half of the industry: FRMEP outperforms 72.07% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.08
Debt/FCF 0.71
Altman-Z N/A
ROIC/WACCN/A
WACC18.18%
FRMEP Yearly LT Debt VS Equity VS FCFFRMEP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
FRMEP Yearly Current Assets VS Current LiabilitesFRMEP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. FRMEP Growth Analysis

3.1 Past

  • FRMEP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 19.22%, which is quite good.
  • Measured over the past 5 years, FRMEP shows a small growth in Earnings Per Share. The EPS has been growing by 7.21% on average per year.
  • FRMEP shows a small growth in Revenue. In the last year, the Revenue has grown by 0.99%.
  • Measured over the past years, FRMEP shows a small growth in Revenue. The Revenue has been growing by 6.15% on average per year.
EPS 1Y (TTM)19.22%
EPS 3Y-1.26%
EPS 5Y7.21%
EPS Q2Q%9.57%
Revenue 1Y (TTM)0.99%
Revenue growth 3Y1.82%
Revenue growth 5Y6.15%
Sales Q2Q%-1.99%

3.2 Future

  • The Earnings Per Share is expected to grow by 9.17% on average over the next years. This is quite good.
  • Based on estimates for the next years, FRMEP will show a quite strong growth in Revenue. The Revenue will grow by 11.65% on average per year.
EPS Next Y9.14%
EPS Next 2Y9.17%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year17.71%
Revenue Next 2Y11.65%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
FRMEP Yearly Revenue VS EstimatesFRMEP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M
FRMEP Yearly EPS VS EstimatesFRMEP Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3 4

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8

4. FRMEP Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 6.41, which indicates a rather cheap valuation of FRMEP.
  • FRMEP's Price/Earnings ratio is rather cheap when compared to the industry. FRMEP is cheaper than 95.21% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.64, FRMEP is valued rather cheaply.
  • With a Price/Forward Earnings ratio of 5.50, the valuation of FRMEP can be described as very cheap.
  • Based on the Price/Forward Earnings ratio, FRMEP is valued cheaply inside the industry as 95.21% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 21.36. FRMEP is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 6.41
Fwd PE 5.5
FRMEP Price Earnings VS Forward Price EarningsFRMEP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • FRMEP's Price/Free Cash Flow ratio is rather cheap when compared to the industry. FRMEP is cheaper than 91.22% of the companies in the same industry.
Industry RankSector Rank
P/FCF 5.68
EV/EBITDA N/A
FRMEP Per share dataFRMEP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.7
PEG (5Y)0.89
EPS Next 2Y9.17%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. FRMEP Dividend Analysis

5.1 Amount

  • FRMEP has a Yearly Dividend Yield of 3.62%.
  • FRMEP's Dividend Yield is a higher than the industry average which is at 2.57.
  • Compared to an average S&P500 Dividend Yield of 1.82, FRMEP pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.62%

5.2 History

  • On average, the dividend of FRMEP grows each year by 7.31%, which is quite nice.
  • FRMEP has been paying a dividend for over 5 years, so it has already some track record.
  • As FRMEP did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)7.31%
Div Incr Years0
Div Non Decr Years5
FRMEP Yearly Dividends per shareFRMEP Yearly Dividends per shareYearly Dividends per share 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5

5.3 Sustainability

  • FRMEP pays out 37.83% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of FRMEP is growing, but earnings are growing more, so the dividend growth is sustainable.
DP37.83%
EPS Next 2Y9.17%
EPS Next 3YN/A
FRMEP Yearly Income VS Free CF VS DividendFRMEP Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M
FRMEP Dividend Payout.FRMEP Dividend Payout, showing the Payout Ratio.FRMEP Dividend Payout.PayoutRetained Earnings

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FRMEP Fundamentals: All Metrics, Ratios and Statistics

FIRST MERCHANTS CORP - FRME 7 1/2 PERP

NASDAQ:FRMEP (5/1/2026, 8:00:01 PM)

25.45

+0.05 (+0.2%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Industry Strength69.57
Industry Growth91.3
Earnings (Last)04-22
Earnings (Next)07-21
Inst Owners71.14%
Inst Owner ChangeN/A
Ins Owners2.12%
Ins Owner ChangeN/A
Market Cap1.61B
Revenue(TTM)659.76M
Net Income(TTM)224.13M
Analysts78.33
Price Target30.71 (20.67%)
Short Float %0%
Short Ratio1.01
Dividend
Industry RankSector Rank
Dividend Yield 3.62%
Yearly Dividend1.48
Dividend Growth(5Y)7.31%
DP37.83%
Div Incr Years0
Div Non Decr Years5
Ex-Date04-30
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)0.51%
Min EPS beat(2)0.05%
Max EPS beat(2)0.98%
EPS beat(4)4
Avg EPS beat(4)1.04%
Min EPS beat(4)0.05%
Max EPS beat(4)2.3%
EPS beat(8)6
Avg EPS beat(8)-3.14%
EPS beat(12)6
Avg EPS beat(12)-3.15%
EPS beat(16)9
Avg EPS beat(16)-2.19%
Revenue beat(2)0
Avg Revenue beat(2)-4.09%
Min Revenue beat(2)-5.68%
Max Revenue beat(2)-2.5%
Revenue beat(4)0
Avg Revenue beat(4)-5.65%
Min Revenue beat(4)-8.02%
Max Revenue beat(4)-2.5%
Revenue beat(8)1
Avg Revenue beat(8)-4.62%
Revenue beat(12)1
Avg Revenue beat(12)-5.31%
Revenue beat(16)1
Avg Revenue beat(16)-4.93%
PT rev (1m)-6.86%
PT rev (3m)-6.86%
EPS NQ rev (1m)5.28%
EPS NQ rev (3m)3.61%
EPS NY rev (1m)1.12%
EPS NY rev (3m)1.67%
Revenue NQ rev (1m)-0.22%
Revenue NQ rev (3m)4.68%
Revenue NY rev (1m)-0.08%
Revenue NY rev (3m)3.23%
Valuation
Industry RankSector Rank
PE 6.41
Fwd PE 5.5
P/S 2.43
P/FCF 5.68
P/OCF 5.68
P/B 0.65
P/tB 0.93
EV/EBITDA N/A
EPS(TTM)3.97
EY15.6%
EPS(NY)4.62
Fwd EY18.17%
FCF(TTM)4.48
FCFY17.6%
OCF(TTM)4.48
OCFY17.6%
SpS10.47
BVpS38.95
TBVpS27.49
PEG (NY)0.7
PEG (5Y)0.89
Graham Number58.9844 (131.77%)
Profitability
Industry RankSector Rank
ROA 1.18%
ROE 9.09%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 33.81%
GM N/A
FCFM 42.79%
ROA(3y)1.16%
ROA(5y)1.21%
ROE(3y)9.21%
ROE(5y)9.84%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-1.28%
PM growth 5Y2.28%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.08
Debt/FCF 0.71
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 126.56%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC18.18%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)125.54%
Profit Quality(5y)119.79%
High Growth Momentum
Growth
EPS 1Y (TTM)19.22%
EPS 3Y-1.26%
EPS 5Y7.21%
EPS Q2Q%9.57%
EPS Next Y9.14%
EPS Next 2Y9.17%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)0.99%
Revenue growth 3Y1.82%
Revenue growth 5Y6.15%
Sales Q2Q%-1.99%
Revenue Next Year17.71%
Revenue Next 2Y11.65%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y6.55%
FCF growth 3Y1.91%
FCF growth 5Y6.84%
OCF growth 1Y6.55%
OCF growth 3Y1.91%
OCF growth 5Y6.84%

FIRST MERCHANTS CORP - FRME 7 1/2 PERP / FRMEP Fundamental Analysis FAQ

What is the ChartMill fundamental rating of FIRST MERCHANTS CORP - FRME 7 1/2 PERP (FRMEP) stock?

ChartMill assigns a fundamental rating of 5 / 10 to FRMEP.


What is the valuation status of FIRST MERCHANTS CORP - FRME 7 1/2 PERP (FRMEP) stock?

ChartMill assigns a valuation rating of 8 / 10 to FIRST MERCHANTS CORP - FRME 7 1/2 PERP (FRMEP). This can be considered as Undervalued.


What is the profitability of FRMEP stock?

FIRST MERCHANTS CORP - FRME 7 1/2 PERP (FRMEP) has a profitability rating of 4 / 10.


What is the valuation of FIRST MERCHANTS CORP - FRME 7 1/2 PERP based on its PE and PB ratios?

The Price/Earnings (PE) ratio for FIRST MERCHANTS CORP - FRME 7 1/2 PERP (FRMEP) is 6.41 and the Price/Book (PB) ratio is 0.65.


Can you provide the expected EPS growth for FRMEP stock?

The Earnings per Share (EPS) of FIRST MERCHANTS CORP - FRME 7 1/2 PERP (FRMEP) is expected to grow by 9.14% in the next year.