First Merchants Corporation (FRME) Earnings History
Annual and quarterly earnings data from 1989 to 2025
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FRME EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
FRME Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 61.0% | 24.7% | 21.5% |
| 2024 | 56.1% | 22.0% | 19.1% |
| 2023 | 64.8% | 25.9% | 22.4% |
| 2022 | 85.8% | 35.9% | 31.2% |
| 2021 | 93.5% | 43.3% | 37.0% |
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First Merchants Corporation (FRME) Earnings Overview
As of May 8, 2026, First Merchants Corporation (FRME) reported trailing twelve-month net income of $226M, reflecting +13.8% year-over-year growth. The company earned $3.93 per diluted share over the past four quarters, with a net profit margin of 21.5%.
Looking at the long-term picture, FRME's 5-year EPS compound annual growth rate (CAGR) stands at +7.2%, showing solid earnings momentum. The company achieved its highest annual net income of $226M in fiscal 2025, representing a new all-time high.
First Merchants Corporation maintains industry-leading profitability with a gross margin of 61.0%, operating margin of 24.7%, and net margin of 21.5%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including WTFC ($824M net income, 19.5% margin), IBCP ($69M net income, 21.7% margin), FFIN ($243M net income, 30.2% margin), FRME has outperformed on profitability metrics. Compare FRME vs WTFC →
FRME Earnings vs Peers
Earnings metrics vs comparable public companies
FRME Historical Earnings Data (1989–2025)
37 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $226M | +12.2% | $259M | $3.88 | 21.5% | 24.7% |
| 2024 | $201M | -10.0% | $232M | $3.41 | 19.1% | 22.0% |
| 2023 | $224M | +0.8% | $259M | $3.73 | 22.4% | 25.9% |
| 2022 | $222M | +8.1% | $256M | $3.81 | 31.2% | 35.9% |
| 2021 | $206M | +38.3% | $241M | $3.81 | 37.0% | 43.3% |
| 2020 | $149M | -9.6% | $170M | $2.74 | 26.6% | 30.4% |
| 2019 | $164M | +3.3% | $194M | $3.19 | 29.8% | 35.1% |
| 2018 | $159M | +65.6% | $188M | $3.22 | 32.9% | 38.8% |
| 2017 | $96M | +18.5% | $134M | $2.12 | 24.9% | 34.6% |
| 2016 | $81M | +24.0% | $109M | $1.98 | 25.4% | 34.1% |
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Start ComparisonFRME — Frequently Asked Questions
Quick answers to the most common questions about buying FRME stock.
Is FRME growing earnings?
FRME EPS stands at $3.93, with +13.8% growth matching the 5-year CAGR of +7.2%. TTM net income is $226M. Earnings trajectory remains consistent.
What are FRME's profit margins?
First Merchants Corporation net margin is +21.5%, with operating margin at +24.7%. Above-average margins indicate pricing power.
How consistent are FRME's earnings?
FRME earnings data spans 1989-2025. The current earnings trend is +13.8% YoY. Historical data enables comparison across business cycles.