FIRST MERCHANTS CORP
FRME, FRMEPOther · Large accelerated filer · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — |
| Operating income | — | — | — | — | — | — |
| Net income | $226.0M | $201.4M | $223.8M | $222.1M | $205.5M | $148.6M |
| Total assets | $19.03B | $18.31B | $18.41B | $18.00B | $15.45B | $14.07B |
| Total liabilities | $16.56B | $16.01B | $16.16B | $15.97B | $13.54B | $12.19B |
| Equity | $2.47B | $2.30B | $2.25B | $2.03B | $1.91B | $1.88B |
| EPS (diluted) | $3.88 | $3.41 | $3.73 | $3.81 | $3.81 | $2.74 |
| Shares out. | 58.5M | 59.3M | 59.6M | 53.8M | 54.3M | 55.2M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- —
- Return on equity
- 9.2%
- Return on assets
- 1.2%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 87.0%
- Debt / equity
- 6.71×
- Book value / share
- $42.14
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- 12.2%
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Accruals / assets
- −0.3%clean
- Piotroski F-Score
- 6/6mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 1 warning● 2 good- High leverage (liabilities > 70% of assets)
- Positive operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Vanguard Portfolio Management LlcPassive (13G)Apr 29, 2026
- Vanguard Capital Management LlcPassive (13G)Apr 29, 2026
- Vanguard Group IncPassive (13G)Mar 26, 2026
- Blackrock, Inc.Passive (13G)Oct 17, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Material events
SEC Form 8-K · most recent- Shareholder voteMay 20, 2026
- Director / officer changeMay 19, 2026
- Other material eventMay 19, 2026
- Results of operationsApr 22, 2026
- Other material eventApr 16, 2026
- Other material eventFeb 10, 2026
- Director / officer changeFeb 9, 2026
- Director / officer changeFeb 6, 2026
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 3FORM 3May 22, 2026
- 4FORM 4May 22, 2026
- 8-KMay 20, 2026
- 8-KMay 19, 2026
- 8-KMay 19, 2026
- 4/AFORM 4/AMay 18, 2026
- 3/AFORM 3/AMay 18, 2026
- 10-QMay 1, 2026
- SCHEDULE 13GApr 29, 2026
- SCHEDULE 13GApr 29, 2026
- 8-KApr 22, 2026
- 13F-HRApr 16, 2026
- 8-KApr 16, 2026
- DEF 14AApr 3, 2026
- 4FORM 4Apr 2, 2026
Event-driven situations (1)
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