FRME
First Merchants Corporation Depository Shares
NASDAQ: FRMEP · FINANCIAL SERVICES · BANKS - REGIONAL
$25.63
+0.12% today
Updated 2026-06-03
Market cap
$2.42B
P/E ratio
6.75
P/S ratio
—
EPS (TTM)
$3.81
Dividend yield
5.60%
52W range
$23 – $26
Volume
0.0M
WallStSmart proprietary scores
39
out of 100
Grade: D
Sell
Investment rating
4.0
Growth
C6.5
Quality
B6.5
Profitability
B6.7
Valuation
B6/9
Piotroski F-Score
Moderate
-0.1
Altman Z-Score
Distress
—
Industry rank
—
View all highly rated stocks (75+) →203 stocks currently score above 75
Price targets
Analyst target
$22.81
-11.00%
12-Month target
$22.81
-11.00%
Intrinsic (DCF)
—
Margin of safety
—
Price chart
Stock snapshot
Strengths
+ Profit margin 31.20% — above average
+ Free cash flow $58.59M — positive
Risks
- Altman Z -0.11 — distress zone
- Revenue declining -2.50% QoQ
Key financials
Revenue Net Income Free Cash Flow
| Metric | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|
| Revenue | $712.95M | $999.49M | $1.05B | $1.05B | $637.81M |
| Net income | $222.09M | $223.79M | $201.40M | $226.00M | $28.16M |
| EPS | — | — | — | — | $3.81 |
| Free cash flow | $268.05M | $258.83M | $266.21M | $283.65M | $58.59M |
| Profit margin | 31.15% | 22.39% | 19.12% | 21.52% | 31.20% |
Peer comparison
Smart narrative
First Merchants Corporation Depository Shares trades at $25.63. representing a P/E of 6.75x trailing earnings. Our Smart Value Score of 39/100 indicates the stock is weak. The company scores 6/9 on the Piotroski F-Score. With an Altman Z-Score of -0.11, it sits in the distress. TTM revenue stands at $637.81M. with profit margins at 31.20%.
Frequently asked questions
What is First Merchants Corporation Depository Shares's stock price?
First Merchants Corporation Depository Shares (FRMEP) trades at $25.63, on a P/E of 6.8x. Those multiples show what the market is paying for each dollar of earnings and sales, which is the real starting point for judging whether the price is reasonable.
Is First Merchants Corporation Depository Shares overvalued?
First Merchants Corporation Depository Shares carries a Smart Value Score of 39/100 (Grade D), which we rate Sell. That score blends growth, quality, and valuation into one read.
What is the price target of First Merchants Corporation Depository Shares (FRMEP)?
The 12-month analyst consensus target is $22.81, about 11.0% below the current $25.63. A consensus target is the average of Wall Street's 12-month forecasts, so it works as a sentiment gauge rather than a guarantee, and it resets with every earnings cycle.
What is First Merchants Corporation Depository Shares's revenue?
First Merchants Corporation Depository Shares's trailing twelve-month revenue is $637.81M. Revenue scale anchors the valuation multiples and shows whether growth is reaching the top line, so it is best read alongside margin and growth trends to see if that revenue is getting more profitable over time.
Altman Z-Score?
First Merchants Corporation Depository Shares's Altman Z-Score is -0.11, which places it in the distress. The Altman Z-Score gauges bankruptcy risk from profitability, leverage, and asset efficiency, and a higher reading points to lower financial distress risk.
Company info
SectorFINANCIAL SERVICES
IndustryBANKS - REGIONAL
CountryUSA
ExchangeNASDAQ
CurrencyUSD
Quick metrics
P/S ratio—
ROE7.44%
Beta0.87
50D MA$25.41
200D MA$25.73
Shares out—
Float0.06B
Short ratio—
Avg volume0.0M
Performance
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