Which has the lower trailing P/E, FHB or FRMEP?

FRMEP has the lower trailing P/E: FHB trades at 10.87 and FRMEP at 8.09. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, FHB or FRMEP?

Over the past five years, FRMEP grew revenue faster — FHB at a 6.01% CAGR versus FRMEP at 14.59%.

Does FHB or FRMEP pay a bigger dividend?

FHB yields 4.15% and FRMEP yields 7.42% based on trailing dividends and the latest price.

Is FHB or FRMEP more profitable?

FHB runs the higher net margin — FHB at 29.18% versus FRMEP at 17.08%.

How have FHB and FRMEP total returns compared?

Over the past 5 years, FHB delivered 0.98% and FRMEP delivered 5.75% annualized total return. Past performance doesn't predict future results.

First Hawaiian, Inc. (FHB) vs First Merchants Corporation (FRMEP)

A side-by-side comparison of First Hawaiian, Inc. and First Merchants Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 6, 2026. Differences are shown without an overall score or investment verdict.

FHB

First Hawaiian, Inc.

$3.04B

$25.00Financial ServicesDelayed quote: Oct 6, 2026, 4:00 PM EDT

FRMEP

First Merchants Corporation

$2.80B

$25.31Financial ServicesDelayed quote: Oct 6, 2026, 4:00 PM EDT

Total return — FHB vs FRMEP

growth of $100 · dividends reinvested · last 6y

FHB +81.4% (+10.4%/yr)FRMEP +56.3% (+7.7%/yr)FHB compounded faster over this window

FHB FRMEP

FHB vs FRMEP: by the numbers

•FHB is the larger company ($3.04B vs $2.80B market cap).
•FRMEP trades at the lower trailing earnings multiple (8.09 vs 10.87 P/E), one valuation lens rather than an overall verdict.
•FHB converts more revenue to profit (29.18% vs 17.08% net margin).
•FRMEP grew revenue faster over the past five years (14.59% vs 6.01% CAGR).
•FRMEP pays the higher dividend yield (7.42% vs 4.15%).

Metrics side by side

Valuation

Metric	FHB	FRMEP
P/E ratio	10.87	8.09
Forward P/E	10.61	7.79
PEG ratio	1.21	1.12
P/S ratio	3.12	2.57
P/B ratio	1.08	1.05

Profitability

Metric	FHB	FRMEP
Operating margin	30.32%	18.95%
Net margin	29.18%	17.08%
ROE	10.08%	6.89%

First Hawaiian, Inc.: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.

First Merchants Corporation: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.

Dividends

Metric	FHB	FRMEP
Dividend yield	4.15%	7.42%
Payout ratio	45.22%	59.91%

Growth (annualized)

Metric	FHB	FRMEP
Revenue CAGR (5Y)	6.01%	14.59%
EPS CAGR (5Y)	9.10%	7.24%
Total return CAGR (5Y)	0.98%	5.75%

Frequently asked

Which has the lower trailing P/E, FHB or FRMEP?: FRMEP has the lower trailing P/E: FHB trades at 10.87 and FRMEP at 8.09. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, FHB or FRMEP?: Over the past five years, FRMEP grew revenue faster — FHB at a 6.01% CAGR versus FRMEP at 14.59%.
Does FHB or FRMEP pay a bigger dividend?: FHB yields 4.15% and FRMEP yields 7.42% based on trailing dividends and the latest price.
Is FHB or FRMEP more profitable?: FHB runs the higher net margin — FHB at 29.18% versus FRMEP at 17.08%.
How have FHB and FRMEP total returns compared?: Over the past 5 years, FHB delivered 0.98% and FRMEP delivered 5.75% annualized total return. Past performance doesn't predict future results.

Go deeper

Full FHB analysis Full FRMEP analysis Interactive comparison tool

Dig into the metrics

First Hawaiian P/E ratio First Merchants P/E ratio First Hawaiian dividend yield First Merchants dividend yield First Hawaiian ROE First Merchants ROE First Hawaiian operating margin First Merchants operating margin First Hawaiian revenue growth First Merchants revenue growth

First Hawaiian & First Merchants appear in these rankings

Highest Dividend Yield Stocks Highest Operating Margin Stocks Lowest P/E Ratio Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 6, 2026.