First Merchants Corporation (FRME)

NEUTRAL

Financial ServicesBanks - RegionalUnited States

ファンダメンタル

株価

$41.46

時価総額

$2.65B

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パート1 · 企業の価値

概要

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides commercial and consumer banking services. The company offers a range of financial services, including checking, savings, and deposit products; debit and credit cards; mortgages, refinance, construction or renovation of residential properties, agricultural lending, treasury management services and depository products. It also provides personal and commercial wealth management services, brokerage, investment management, private banking, fiduciary estate, and financial planning services. The company operates banking locations in Indiana, Ohio, and Michigan counties. It offers its services through electronic and mobile delivery channels. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana.

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Who this company fights with for the same customers

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貸借対照表と流動性

売上高

$660M

直近12か月（2026/3/31まで）

純利益

$199M

直近12か月（2026/3/31まで）

フリーキャッシュフロー

自己資本合計

$2.47B

負債合計

$16.56B

流動比率

利払い倍率

0.40

負債/EBITDA

一株当たり利益（EPS）

売上高と純利益

フリーキャッシュフロー

収益内訳

財務推移表

利益率の推移

負債の推移

成長率グリッド

成長率 — 売上高

適正価値の推定

Bank割高

適正価値

$32.75

現在株価

$41.46

安全マージン

-26.6%

適正価値レンジ

$23.79 - $41.72

推定方法

Analyst price target:$48.00

Discounted cash flow (DCF):Not applicable to this type of company

Earnings multiple (P/E):$30.90

Graham growth formula:Not applicable to this type of company

Earnings power value (EPV):Not applicable to this type of company

Justified P/B:$26.10

Dividend discount (Gordon):$28.37

P/FFO, funds from operations:Not applicable to this type of company

Mid-cycle earnings:Not applicable to this type of company

Revenue multiple:Not applicable to this type of company

アナリスト・コンセンサス:買い (9B / 3H / 0S)

直近の決算サプライズ:-29.60%

バリュエーション指標

P/E レシオ

12.37

ROE

9.2%

P/B レシオ

0.99

P/FCF

粗利益率

ROIC

収益性レーダー

Value Creation (Economic Moat)

ROIC

WACC

11.5%

ROIC − WACC

ファンダメンタル分析基準

合格（11）

EPS shows upward trend
P/B Ratio 0.99
Operating Margin 33.8%
Low reliance on intangibles
Price below Graham Number
Revenue Growth 5Y 14.0%
Analyst Consensus 75% Buy
PEG Ratio 1.98
Earnings Quality (OCF/NI) 1.41
Share Dilution -1.4%
Piotroski F-Score 6/9

不合格（8）

Price CAGR 1.11%
Debt/Equity ratio
Interest Coverage
Return on Tangible Assets
DCF valuation (Unknown)
ROE 7.3%
Earnings Surprise avg -4.9%
Net Margin Trend 30.1% vs 32.0%

データなし（8）

ROIC NaN%
Gross Margin NaN%
P/FCF NaN
Dividend Payout NaN%
Positive Free Cash Flow
CapEx intensity
Current Ratio
Debt/EBITDA

Piotroski F-スコア

6/9

まちまちのシグナル：一部の領域に注意が必要

score

criteria

利益の質

1.41

高品質：利益はキャッシュに裏付けられている

株式希薄化

-1.4%

株式を買い戻している。株主に友好的

ガバナンス

経営陣

氏名	役職	年齢
Mr. Mark K. Hardwick CPA	CEO & Director	54
Mr. Michael C. Rechin	Advisor & Vice Chair	66
Mr. Michael J. Stewart	President	59
Ms. Michele M. Kawiecki	Executive VP, CFO & Principal Accounting Officer	52
Mr. John J. Martin	Executive VP & Chief Credit Officer	58
Mr. Joseph C. Peterson	Executive VP & Chief Commercial Officer	49
Mr. Marcos Nogues C.F.A.	Chief Investment Officer	-
Mr. Stephan H. Fluhler	Senior VP & Chief Information Officer	56
Ms. Nicole M. Weaver	VP & Director of Corporate Administration	-
Mr. Brian T. Hunt J.D.	Secretary & Legal Counsel	65

監査リスク

取締役会リスク

報酬リスク

株主権利リスク

パート2 · 株価と買い時

この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容：テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。

Latest News

Recent headlines for FRME, sourced from Markets Gazette.

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