First Merchants Corp

Chart & Performance

D1W1MN

Profile

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as public finance. The company also offers personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corporate services. It operates 109 banking locations in Indiana, Illinois, Ohio, and Michigan counties. The company also offers its services through electronic and mobile delivery channels. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana.

URL

https://ir.firstmerchants.com/

IPO date

Jun 20, 1989

Employees

2,124

Domiciled in

Incorporated in

Valuation

Order:

Title USD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title USD in thousands, except ratios and share amounts	2024‑12	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12
Income
Revenues	948,006 44.89%	654,313 4.17%	628,144 20.80%
Cost of revenue	243,585	250,846	224,836
Unusual Expense (Income)
NOPBT	704,421	403,467	403,308
NOPBT Margin	74.31%	61.66%	64.21%
Operating Taxes	30,326	35,446	33,585
Tax Rate	4.31%	8.79%	8.33%
NOPAT	674,095	368,021	369,723
Net income	201,402 -10.00%	223,786 0.76%	222,089 8.06%
Dividends	(83,498)	(81,936)	(74,154)
Dividend yield	3.58%	3.71%	3.11%
Proceeds from repurchase of equity	(53,907)	2,180	2,056
BB yield	2.31%	-0.10%	-0.09%
Debt
Debt current			803,518
Long-term debt	916,083	888,250	997,023
Deferred revenue
Other long-term liabilities		15,267,766	(967,442)
Net debt	(558,008)	(4,662,875)	(2,711,902)
Cash flow
Cash from operating activities	266,210	258,833	268,045
CAPEX
Cash from investing activities	(252,424)	(344,425)	(446,441)
Cash from financing activities	(38,819)	75,647	133,844
FCF	719,097	1,115,725	(94,657)
Balance
Cash	1,474,091	1,739,761	248,655
Long term investments		3,811,364	4,263,788
Excess cash	1,426,691	5,518,409	4,481,036
Stockholders' equity	1,083,843	1,011,207	806,144
Invested Capital	17,212,024	17,394,680	17,928,150
ROIC	3.90%	2.08%	2.25%
ROCE	3.85%	2.19%	2.15%
EV
Common stock shares outstanding	58,533	59,489	57,950
Price	39.89 7.58%	37.08 -9.80%	41.11 -1.86%
Market cap	2,334,881 5.85%	2,205,834 -7.41%	2,382,335 5.35%
EV	1,776,873	(2,431,916)	(304,442)
EBITDA	731,270	415,178	415,123
EV/EBITDA	2.43
Interest	426,892	348,486	84,803
Interest/NOPBT	60.60%	86.37%	21.03%