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

MBINM has the lower trailing P/E: FRME trades at 12.74 and MBINM at 5.12. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, FRME or MBINM?

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

Does FRME or MBINM pay a bigger dividend?

FRME yields 3.67% and MBINM yields 8.13% based on trailing dividends and the latest price.

Is FRME or MBINM more profitable?

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

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

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

MBINM

Merchants Bancorp

$2.54B

$25.47Financial ServicesDelayed quote: Oct 6, 2026, 10:31 AM EDT

Total return — FRME vs MBINM

growth of $100 · dividends reinvested · last 4y

FRME +16.0% (+3.8%/yr)MBINM +41.9% (+9.1%/yr)MBINM compounded faster over this window

FRME MBINM

FRME vs MBINM: by the numbers

•MBINM is the larger company ($2.54B vs $2.50B market cap).
•MBINM trades at the lower trailing earnings multiple (5.12 vs 12.74 P/E), one valuation lens rather than an overall verdict.
•MBINM converts more revenue to profit (20.51% vs 17.08% net margin).
•MBINM grew revenue faster over the past five years (23.60% vs 14.59% CAGR).
•MBINM pays the higher dividend yield (8.13% vs 3.67%).

Metrics side by side

Valuation

Metric	FRME	MBINM
P/E ratio	12.74	5.12
Forward P/E	12.27	4.57
PEG ratio	1.77	N/A
P/S ratio	2.30	1.94
P/B ratio	0.94	1.38

Profitability

Metric	FRME	MBINM
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	MBINM
Dividend yield	3.67%	8.13%
Payout ratio	46.65%	41.41%

Growth (annualized)

Metric	FRME	MBINM
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 MBINM?: MBINM has the lower trailing P/E: FRME trades at 12.74 and MBINM at 5.12. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, FRME or MBINM?: Over the past five years, MBINM grew revenue faster — FRME at a 14.59% CAGR versus MBINM at 23.60%.
Does FRME or MBINM pay a bigger dividend?: FRME yields 3.67% and MBINM yields 8.13% based on trailing dividends and the latest price.
Is FRME or MBINM more profitable?: MBINM runs the higher net margin — FRME at 17.08% versus MBINM at 20.51%.

Go deeper

Full FRME analysis Full MBINM 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.