Which has the lower trailing P/E, FRME or MBINL?

MBINL has the lower trailing P/E: FRME trades at 12.74 and MBINL at 4.67. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, FRME or MBINL?

Over the past five years, MBINL grew revenue faster — FRME at a 14.59% CAGR versus MBINL at 23.60%.

Does FRME or MBINL pay a bigger dividend?

FRME yields 3.67% and MBINL yields 8.34% based on trailing dividends and the latest price.

Is FRME or MBINL more profitable?

MBINL runs the higher net margin — FRME at 17.08% versus MBINL at 20.51%.

First Merchants Corporation (FRME) vs Merchants Bancorp (MBINL)

A side-by-side comparison of First Merchants Corporation and Merchants Bancorp 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.

FRME

First Merchants Corporation

$2.50B

$39.87Financial ServicesDelayed quote: Oct 6, 2026, 10:40 AM EDT

MBINL

Merchants Bancorp

$2.38B

$23.24Financial ServicesDelayed quote: Oct 6, 2026, 10:36 AM EDT

Total return — FRME vs MBINL

growth of $100 · dividends reinvested · last 2y

FRME -4.0% (-2.0%/yr)MBINL +6.6% (+3.3%/yr)MBINL compounded faster over this window

FRME MBINL

FRME vs MBINL: by the numbers

•FRME is the larger company ($2.50B vs $2.38B market cap).
•MBINL trades at the lower trailing earnings multiple (4.67 vs 12.74 P/E), one valuation lens rather than an overall verdict.
•MBINL converts more revenue to profit (20.51% vs 17.08% net margin).
•MBINL grew revenue faster over the past five years (23.60% vs 14.59% CAGR).
•MBINL pays the higher dividend yield (8.34% vs 3.67%).

Metrics side by side

Valuation

Metric	FRME	MBINL
P/E ratio	12.74	4.67
Forward P/E	12.27	4.17
PEG ratio	1.77	N/A
P/S ratio	2.30	1.82
P/B ratio	0.94	1.29

Profitability

Metric	FRME	MBINL
Operating margin	18.95%	21.15%
Net margin	17.08%	20.51%
ROE	6.89%	11.22%

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.

Merchants Bancorp: 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	FRME	MBINL
Dividend yield	3.67%	8.34%
Payout ratio	46.65%	38.31%

Growth (annualized)

Metric	FRME	MBINL
Revenue CAGR (5Y)	14.59%	23.60%
EPS CAGR (5Y)	7.24%	-0.37%
Total return CAGR (5Y)	2.27%	N/A

Frequently asked

Which has the lower trailing P/E, FRME or MBINL?: MBINL has the lower trailing P/E: FRME trades at 12.74 and MBINL at 4.67. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, FRME or MBINL?: Over the past five years, MBINL grew revenue faster — FRME at a 14.59% CAGR versus MBINL at 23.60%.
Does FRME or MBINL pay a bigger dividend?: FRME yields 3.67% and MBINL yields 8.34% based on trailing dividends and the latest price.
Is FRME or MBINL more profitable?: MBINL runs the higher net margin — FRME at 17.08% versus MBINL at 20.51%.

Go deeper

Full FRME analysis Full MBINL analysis Interactive comparison tool

Dig into the metrics

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

First Merchants & Merchants Bancorp appear in these rankings

Highest Dividend Yield Stocks Fastest Revenue Growth 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.