SharesGrow 7-Criteria Score
All 7 criteria scored · valuation-related highlighted on this page
First Merchants Corporation (FRME) trades at a trailing P/E of 10.4, forward P/E of 9.9. Trailing earnings yield is 9.65%, forward earnings yield 10.06%. PEG 0.75 (Peter Lynch undervalued ≤1.0). Graham Number is $61.66.
Criteria proven by this page:
- VALUE (88/100, Pass) — P/E is below market average (10.4); PEG ≤ 1.0 — Peter Lynch undervalued (0.75); analyst target implies upside (+19.9%); earnings yield beats bond yields (9.65%).
- Forward P/E 9.9 (down from trailing 10.4) — analysts expect earnings to grow, which would improve the valuation.
- PEG Ratio 0.75 — below 1.0 suggests the stock is undervalued relative to its earnings growth rate (Peter Lynch criterion).
- Trailing Earnings Yield 9.65% — exceeds typical bond yields (~4.3%), making equity attractive vs fixed income. Forward yield improves to 10.06% as earnings recover.
- Analyst consensus target $49.00 (+19.9% upside) — significant upside potential according to Wall Street analysts.
Overall SharesGrow Score: 74/100 with 5/7 criteria passed.
SharesGrow 7-Criteria Score
✓
VALUE
88/100
Price-to-Earnings & upside
Proven by this page
✗
HEALTH
33/100
Debt-to-Equity & liquidity
→ Health
Valuation Snapshot — FRME
Valuation Multiples
P/E (TTM)10.4
Forward P/E9.9
PEG Ratio0.75
Forward PEG1.68
P/B Ratio0.95
P/S Ratio2.46
EV/EBITDA12.1
Per Share Data
EPS (TTM)$3.93
Forward EPS (Est.)$4.11
Book Value / Share$42.94
Revenue / Share$18.30
FCF / Share$4.94
Yields & Fair Value
Earnings Yield9.65%
Forward Earnings Yield10.06%
Dividend Yield3.53%
Graham Number$61.66
SharesGrow IV$74.85 (+83.2%)
Analyst Target$49.00 (+19.9%)
Historical Valuation
| Year |
P/E (TTM) |
PEG Ratio |
P/B Ratio |
P/S Ratio |
Dividend Yield |
| 2016 |
18.9 |
1.26 |
1.70 |
4.81 |
1.45% |
| 2017 |
19.7 |
2.81 |
1.46 |
4.92 |
1.68% |
| 2018 |
10.6 |
0.21 |
1.20 |
3.49 |
2.47% |
| 2019 |
13.0 |
-14.00 |
1.20 |
3.87 |
2.40% |
| 2020 |
13.6 |
-0.97 |
1.08 |
3.62 |
2.80% |
| 2021 |
11.0 |
0.28 |
1.18 |
4.05 |
2.72% |
| 2022 |
10.7 |
40.79 |
1.17 |
3.33 |
3.13% |
| 2023 |
9.8 |
-4.18 |
0.98 |
2.20 |
3.73% |
| 2024 |
11.5 |
-1.35 |
1.01 |
2.21 |
3.59% |
| 2025 |
9.6 |
0.68 |
0.88 |
2.06 |
3.92% |
P/E Ratio & Earnings Yield
Earnings Per Share (EPS) History
| Year |
EPS (Diluted) |
Revenue |
Net Income |
Net Margin |
| 2016 |
$1.98 |
$318.52M |
$81.05M |
25.4% |
| 2017 |
$2.12 |
$385.91M |
$96.07M |
24.9% |
| 2018 |
$3.22 |
$484.4M |
$159.14M |
32.9% |
| 2019 |
$3.19 |
$552.09M |
$164.46M |
29.8% |
| 2020 |
$2.74 |
$558.43M |
$148.6M |
26.6% |
| 2021 |
$3.81 |
$555.96M |
$205.53M |
37% |
| 2022 |
$3.81 |
$712.95M |
$222.09M |
31.2% |
| 2023 |
$3.73 |
$999.49M |
$223.79M |
22.4% |
| 2024 |
$3.41 |
$1.05B |
$201.4M |
19.1% |
| 2025 |
$3.88 |
$1.05B |
$226M |
21.5% |
Analyst Estimates
| Year |
EPS (Avg) |
EPS Range |
Revenue (Avg) |
Revenue Range |
Analysts |
| 2026 |
$4.11 |
$4.07 – $4.16 |
$803.21M |
$798.95M – $807.47M |
5 |
| 2027 |
$4.54 |
$4.48 – $4.63 |
$848.66M |
$844.6M – $852.72M |
5 |
