Financials in USD. Standardized financial statements.
A compact view of how First Merchants Corporation turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $1.05B | $1.05B | $999.49M | $712.95M | $555.96M | $558.43M | $552.09M | $484.40M | $385.90M | $318.51M |
| Revenue Growth? | -0.3% | +5.4% | +40.2% | +28.2% | -0.4% | +1.1% | +14.0% | +25.5% | +21.2% | 0.0% |
| Cost of Revenue? | $410.03M | $462.59M | $351.99M | $101.56M | $35.95M | $125.05M | $111.55M | $76.31M | $46.76M | $32.50M |
| Gross Profit? | $640.17M | $591.01M | $647.50M | $611.39M | $520.00M | $433.38M | $440.55M | $408.09M | $339.15M | $286.02M |
| Gross Margin? | +61.0% | +56.1% | +64.8% | +85.8% | +93.5% | +77.6% | +79.8% | +84.2% | +87.9% | +89.8% |
| Operating Expenses? | $381.06M | $359.28M | $388.27M | $355.71M | $279.21M | $263.40M | $246.76M | $219.95M | $205.56M | $177.36M |
| Operating Income? | $259.11M | $231.73M | $259.23M | $255.67M | $240.79M | $169.97M | $193.78M | $188.14M | $133.59M | $108.66M |
| EBITDA? | $288.54M | $258.58M | $270.94M | $267.49M | $251.49M | $180.98M | $203.17M | $196.98M | $141.56M | $115.82M |
| Income Before Tax | $259.11M | $231.73M | $259.23M | $255.67M | $240.79M | $169.97M | $193.78M | $188.14M | $133.59M | $108.66M |
| Income Tax Expense | $33.11M | $30.33M | $35.45M | $33.59M | $35.26M | $21.38M | $29.32M | $29.00M | $37.52M | $27.61M |
| Net Income? | $226.00M | $201.40M | $223.79M | $222.09M | $205.53M | $148.60M | $164.46M | $159.14M | $96.07M | $81.05M |
| EPS? | $3.90 | $3.42 | $3.74 | $3.83 | $3.82 | $2.75 | $3.20 | $3.23 | $2.13 | $1.99 |
| Diluted EPS? | $3.88 | $3.41 | $3.73 | $3.81 | $3.81 | $2.74 | $3.19 | $3.22 | $2.12 | $1.98 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality