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First Merchants Corporation
FRMEFinancial ServicesNASDAQUS
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Estimates, scoring, valuation assumptions, and peer comparison in one research surface.
Change the assumptions to see how revenue growth, margins, and exit multiples can move fair value.
| Year | Revenue | Margin | Profit | Free cash flow | Present value |
|---|---|---|---|---|---|
| 2026 | $1.05B | 21.5% | $225.79M | $283.55M | N/A |
| 2027 | $1.11B | 21.5% | $237.99M | $298.87M | $271.70M |
| 2028 | $1.17B | 21.5% | $250.84M | $315.00M | $260.33M |
| 2029 | $1.23B | 21.5% | $264.38M | $332.02M | $249.45M |
| 2030 | $1.30B | 21.5% | $278.66M | $349.94M | $239.02M |
| 2031 | $1.37B | 21.5% | $293.71M | $368.84M | $229.02M |
Projects EPS forward, applies an exit P/E, then discounts the result back to today.
| Base EPS | $3.88 | 2025-12-31 |
| EPS growth | +14.0% | Forecast years: 5 |
| Future EPS | $7.471 | EPS × (1 + G)^5 |
| Base P/E | 9.6 | P/E |
| Future price | $71.718 | Future EPS × P/E |
| Fair value today | $44.531 | PV @ 10.0% |
| 30% safety price | $31.172 | Margin of safety |
| 50% safety price | $22.266 | Margin of safety |
| Discount rate \\ Terminal growth | 1.5% | 2.5% | 3.5% |
|---|---|---|---|
| 9.0% | $92.627 | $102.52 | $116.01 |
| 10.0% | $82.60 | $89.894 | $99.431 |
| 11.0% | $74.691 | $80.244 | $87.278 |