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

WAFDP has the lower trailing P/E: FRME trades at 12.68 and WAFDP at 4.71. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, FRME or WAFDP?

Over the past five years, WAFDP grew revenue faster — FRME at a 14.59% CAGR versus WAFDP at 16.67%.

Does FRME or WAFDP pay a bigger dividend?

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

Is FRME or WAFDP more profitable?

WAFDP runs the higher net margin — FRME at 17.08% versus WAFDP at 18.47%.

How have FRME and WAFDP total returns compared?

Over the past 5 years, FRME delivered 2.27% and WAFDP delivered -3.07% annualized total return. Past performance doesn't predict future results.

First Merchants Corporation (FRME) vs WaFd, Inc. (WAFDP)

A side-by-side comparison of First Merchants Corporation and WaFd, Inc. 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

$2.49B

$39.68Financial ServicesDelayed quote: Oct 6, 2026, 3:05 PM EDT

WAFDP

WaFd, Inc.

$2.57B

$15.39Financial ServicesDelayed quote: Oct 6, 2026, 2:59 PM EDT

Total return — FRME vs WAFDP

growth of $100 · dividends reinvested · last 6y

FRME +26.1% (+3.9%/yr)WAFDP -9.4% (-1.6%/yr)FRME compounded faster over this window

FRME WAFDP

FRME vs WAFDP: by the numbers

•WAFDP is the larger company ($2.57B vs $2.49B market cap).
•WAFDP trades at the lower trailing earnings multiple (4.71 vs 12.68 P/E), one valuation lens rather than an overall verdict.
•WAFDP converts more revenue to profit (18.47% vs 17.08% net margin).
•WAFDP grew revenue faster over the past five years (16.67% vs 14.59% CAGR).
•WAFDP pays the higher dividend yield (7.92% vs 3.67%).

Metrics side by side

Valuation

Metric	FRME	WAFDP
P/E ratio	12.68	4.71
Forward P/E	12.22	4.38
PEG ratio	1.76	1.53
P/S ratio	2.29	1.85
P/B ratio	0.93	0.94

Profitability

Metric	FRME	WAFDP
Operating margin	18.95%	23.63%
Net margin	17.08%	18.47%
ROE	6.89%	8.49%

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.

WaFd, 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.

Dividends

Metric	FRME	WAFDP
Dividend yield	3.67%	7.92%
Payout ratio	46.65%	37.27%

Growth (annualized)

Metric	FRME	WAFDP
Revenue CAGR (5Y)	14.59%	16.67%
EPS CAGR (5Y)	7.24%	3.16%
Total return CAGR (5Y)	2.27%	-3.07%

Frequently asked

Which has the lower trailing P/E, FRME or WAFDP?: WAFDP has the lower trailing P/E: FRME trades at 12.68 and WAFDP at 4.71. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, FRME or WAFDP?: Over the past five years, WAFDP grew revenue faster — FRME at a 14.59% CAGR versus WAFDP at 16.67%.
Does FRME or WAFDP pay a bigger dividend?: FRME yields 3.67% and WAFDP yields 7.92% based on trailing dividends and the latest price.
Is FRME or WAFDP more profitable?: WAFDP runs the higher net margin — FRME at 17.08% versus WAFDP at 18.47%.
How have FRME and WAFDP total returns compared?: Over the past 5 years, FRME delivered 2.27% and WAFDP delivered -3.07% annualized total return. Past performance doesn't predict future results.

Go deeper

Full FRME analysis Full WAFDP analysis Interactive comparison tool

Dig into the metrics

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

First Merchants & WaFd 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.