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

MBINN has the lower trailing P/E: FRME trades at 12.73 and MBINN at 3.76. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, FRME or MBINN?

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

Does FRME or MBINN pay a bigger dividend?

FRME yields 3.67% and MBINN yields 7.92% based on trailing dividends and the latest price.

Is FRME or MBINN more profitable?

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

How have FRME and MBINN total returns compared?

Over the past 5 years, FRME delivered 2.27% and MBINN delivered 0.54% annualized total return. Past performance doesn't predict future results.

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

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

$39.83Financial ServicesDelayed quote: Oct 6, 2026, 10:45 AM EDT

MBINN

Merchants Bancorp

$2.37B

$18.74Financial ServicesDelayed quote: Oct 6, 2026, 10:37 AM EDT

Total return — FRME vs MBINN

growth of $100 · dividends reinvested · last 6y

FRME +1.1% (+0.2%/yr)MBINN +11.5% (+1.8%/yr)MBINN compounded faster over this window

FRME MBINN

FRME vs MBINN: by the numbers

•FRME is the larger company ($2.50B vs $2.37B market cap).
•MBINN trades at the lower trailing earnings multiple (3.76 vs 12.73 P/E), one valuation lens rather than an overall verdict.
•MBINN converts more revenue to profit (20.51% vs 17.08% net margin).
•MBINN grew revenue faster over the past five years (23.60% vs 14.59% CAGR).
•MBINN pays the higher dividend yield (7.92% vs 3.67%).

Metrics side by side

Valuation

Metric	FRME	MBINN
P/E ratio	12.73	3.76
Forward P/E	12.26	3.36
PEG ratio	1.76	N/A
P/S ratio	2.30	1.81
P/B ratio	0.94	1.28

Profitability

Metric	FRME	MBINN
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	MBINN
Dividend yield	3.67%	7.92%
Payout ratio	46.65%	30.12%

Growth (annualized)

Metric	FRME	MBINN
Revenue CAGR (5Y)	14.59%	23.60%
EPS CAGR (5Y)	7.24%	-0.37%
Total return CAGR (5Y)	2.27%	0.54%

Frequently asked

Which has the lower trailing P/E, FRME or MBINN?: MBINN has the lower trailing P/E: FRME trades at 12.73 and MBINN at 3.76. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, FRME or MBINN?: Over the past five years, MBINN grew revenue faster — FRME at a 14.59% CAGR versus MBINN at 23.60%.
Does FRME or MBINN pay a bigger dividend?: FRME yields 3.67% and MBINN yields 7.92% based on trailing dividends and the latest price.
Is FRME or MBINN more profitable?: MBINN runs the higher net margin — FRME at 17.08% versus MBINN at 20.51%.
How have FRME and MBINN total returns compared?: Over the past 5 years, FRME delivered 2.27% and MBINN delivered 0.54% annualized total return. Past performance doesn't predict future results.

Go deeper

Full FRME analysis Full MBINN 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.