What is the EBITDA margin for First Merchants Corporation (FRME)?

The EBITDA margin for FRME stock is 27.47%.

What is the TTM average EBITDA margin for First Merchants Corporation (FRME)?

The TTM average EBITDA margin for FRME stock is 23.07%.

What is the 3Y average EBITDA margin for First Merchants Corporation (FRME)?

The 3Y average EBITDA margin for FRME stock is 24.43%.

What is the 5Y average EBITDA margin for First Merchants Corporation (FRME)?

The 5Y average EBITDA margin for FRME stock is 30.32%.

What is the 10Y average EBITDA margin for First Merchants Corporation (FRME)?

The 10Y average EBITDA margin for FRME stock is 33.71%.

What is the 15Y average EBITDA margin for First Merchants Corporation (FRME)?

The 15Y average EBITDA margin for FRME stock is 32.03%.

What is the 20Y average EBITDA margin for First Merchants Corporation (FRME)?

The 20Y average EBITDA margin for FRME stock is 28.02%.

First Merchants (FRME) EBITDA Margin: History & Chart

Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.

Is the EBITDA margin high or low?

The EBITDA margin of 27.47% is in line with its 5-year average of 30.32%, around the middle of its 5-year range (14.24%–47.55%).

19.07% above its 12-month average of 23.07%.

EBITDA|Gross Margin|Operating Margin|Profit Margin|All Metrics

FRME EBITDA Margin Metrics

EBITDA MARGIN

27.47%

EBITDA MARGIN AVG TTM

23.07%

EBITDA MARGIN AVG 3Y

24.43%

EBITDA MARGIN AVG 5Y

30.32%

EBITDA MARGIN AVG 10Y

33.71%

EBITDA MARGIN AVG 15Y

32.03%

EBITDA MARGIN AVG 20Y

28.02%

CURRENT VS TTM AVG

+19.07%

CURRENT VS 3Y AVG

+12.44%

CURRENT VS 5Y AVG

-9.41%

CURRENT VS 10Y AVG

-18.51%

CURRENT VS 15Y AVG

-14.24%

CURRENT VS 20Y AVG

-1.96%

FRME Competitors' EBITDA Margin

FRME

First Merchants Corporation

Current

Market Cap

$2.51B

EBITDA Margin

27.47%

TTM Avg

23.07%

3Y Avg

24.43%

5Y Avg

30.32%

BUSE

First Busey Corporation

vs FRME

Market Cap

$2.49B

EBITDA Margin

19.61%

TTM Avg

22.92%

3Y Avg

28.44%

5Y Avg

31.96%

FBNC

First Bancorp

vs FRME

Market Cap

$2.49B

EBITDA Margin

28.47%

TTM Avg

25.16%

3Y Avg

31.86%

5Y Avg

34.24%

CLBK

Columbia Financial, Inc.

vs FRME

Market Cap

$2.49B

EBITDA Margin

13.57%

TTM Avg

6.63%

3Y Avg

16.46%

5Y Avg

22.83%

MBINM

Merchants Bancorp

vs FRME

Market Cap

$2.54B

EBITDA Margin

19.58%

TTM Avg

24.50%

3Y Avg

31.82%

5Y Avg

42.49%

OXLCM

Oxford Lane Capital Corp.

vs FRME

Market Cap

$2.44B

EBITDA Margin

-135.44%

TTM Avg

-42.42%

3Y Avg

15.56%

5Y Avg

34.37%

BWIN

The Baldwin Insurance Group, Inc.

vs FRME

Market Cap

$2.58B

EBITDA Margin

15.76%

TTM Avg

14.04%

3Y Avg

9.60%

5Y Avg

6.86%

MBINN

Merchants Bancorp

vs FRME

Market Cap

$2.38B

EBITDA Margin

19.58%

TTM Avg

24.50%

3Y Avg

31.82%

5Y Avg

42.49%

MBINL

Merchants Bancorp

vs FRME

Market Cap

$2.38B

EBITDA Margin

19.58%

TTM Avg

24.50%

3Y Avg

31.82%

5Y Avg

42.49%

NAD

Nuveen Quality Municipal Income Fund

vs FRME

Market Cap

$2.38B

EBITDA Margin

69.73%

TTM Avg

170.78%

3Y Avg

-122.92%

5Y Avg

-51.58%

NAME	MARKET CAP	EBITDA MARGIN	TTM	3Y	5Y
First Merchants Corporation (FRME)	$2.51B	27.47%	23.07%	24.43%	30.32%
First Busey Corporation (BUSE)vs ›	$2.49B	19.61%	22.92%	28.44%	31.96%
First Bancorp (FBNC)vs ›	$2.49B	28.47%	25.16%	31.86%	34.24%
Columbia Financial, Inc. (CLBK)vs ›	$2.49B	13.57%	6.63%	16.46%	22.83%
Merchants Bancorp (MBINM)vs ›	$2.54B	19.58%	24.50%	31.82%	42.49%
Oxford Lane Capital Corp. (OXLCM)vs ›	$2.44B	-135.44%	-42.42%	15.56%	34.37%
The Baldwin Insurance Group, Inc. (BWIN)vs ›	$2.58B	15.76%	14.04%	9.60%	6.86%
Merchants Bancorp (MBINN)vs ›	$2.38B	19.58%	24.50%	31.82%	42.49%
Merchants Bancorp (MBINL)vs ›	$2.38B	19.58%	24.50%	31.82%	42.49%
Nuveen Quality Municipal Income Fund (NAD)vs ›	$2.38B	69.73%	170.78%	-122.92%	-51.58%

Margin Comparison

EBITDA Margin

27.5%

Operating Margin

18.9%

Net Margin

17.1%

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.

Formula: EBITDA Margin = (EBITDA / Revenue) × 100

Why EBITDA Margin matters:

Removes effects of depreciation policies (D&A)
Capital structure neutral (ignores interest)
Tax neutral (ignores tax differences)
Good proxy for operating cash generation

EBITDA Margin Formula & Definition

EBITDA Margin = EBITDA / Revenue

EBITDA margin measures operating profitability before interest, taxes, depreciation, and amortization as a percentage of revenue.

Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute

EBITDA Margin FAQ

What is the EBITDA margin for First Merchants Corporation (FRME)?: The EBITDA margin for FRME stock is 27.47%.
Is First Merchants Corporation's EBITDA margin high or low?: The EBITDA margin of 27.47% is in line with its 5-year average of 30.32%, around the middle of its 5-year range (14.24%–47.55%).
What is the TTM average EBITDA margin for First Merchants Corporation (FRME)?: The TTM average EBITDA margin for FRME stock is 23.07%.
What is the 3Y average EBITDA margin for First Merchants Corporation (FRME)?: The 3Y average EBITDA margin for FRME stock is 24.43%.
What is the 5Y average EBITDA margin for First Merchants Corporation (FRME)?: The 5Y average EBITDA margin for FRME stock is 30.32%.
What is the 10Y average EBITDA margin for First Merchants Corporation (FRME)?: The 10Y average EBITDA margin for FRME stock is 33.71%.
What is the 15Y average EBITDA margin for First Merchants Corporation (FRME)?: The 15Y average EBITDA margin for FRME stock is 32.03%.
What is the 20Y average EBITDA margin for First Merchants Corporation (FRME)?: The 20Y average EBITDA margin for FRME stock is 28.02%.

FRME EBITDA Margin History

DATE	EBITDA MARGIN
2026-06-30	19.37%
2026-03-31	14.24%
2025-12-31	26.39%
2025-09-30	27.39%
2025-06-30	27.96%
2025-03-31	28.13%
2024-12-31	36.08%
2024-09-30	22.66%
2024-06-30	17.73%
2024-03-31	22.08%
2023-12-31	18.96%
2023-09-30	26.55%
2023-06-30	30.04%
2023-03-31	33.86%
2022-12-31	40.17%
2022-09-30	39.71%
2022-06-30	27.11%
2022-03-31	43.21%
2021-12-31	42.18%
2021-09-30	45.39%
2021-06-30	47.55%
2021-03-31	45.68%
2020-12-31	39.49%
2020-09-30	33.70%
2020-06-30	29.75%
2020-03-31	27.02%
2019-12-31	39.17%
2019-09-30	32.41%
2019-06-30	37.97%
2019-03-31	37.61%
2018-12-31	39.01%
2018-09-30	41.67%
2018-06-30	41.82%
2018-03-31	40.20%
2017-12-31	38.26%
2017-09-30	33.16%
2017-06-30	36.91%
2017-03-31	38.75%
2016-12-31	39.37%
2016-09-30	37.28%
2016-06-30	36.02%
2016-03-31	32.57%
2015-12-31	28.77%
2015-09-30	34.59%
2015-06-30	39.99%
2015-03-31	34.03%
2014-12-31	32.15%
2014-09-30	32.92%
2014-06-30	33.31%
2014-03-31	29.69%
2013-12-31	25.29%
2013-09-30	28.25%
2013-06-30	29.36%
2013-03-31	30.55%
2012-12-31	25.37%
2012-09-30	27.25%
2012-06-30	23.88%
2012-03-31	31.79%
2011-12-31	19.32%
2011-09-30	18.40%
2011-06-30	14.33%
2011-03-31	15.65%
2010-12-31	8.49%
2010-10-28	4.04%
2010-06-30	-1.29%
2010-03-31	3.25%
2009-12-31	-25.49%
2009-09-30	-9.77%
2009-06-30	-63.09%
2009-03-31	9.06%
2008-12-31	2.16%
2008-09-30	14.49%
2008-06-30	15.92%
2008-03-31	18.41%
2007-12-31	19.32%
2007-09-30	17.79%
2007-06-30	13.78%
2007-03-31	18.81%
2006-09-30	19.23%
2006-06-30	24.43%
2006-03-31	21.17%
2005-12-31	22.43%
2005-09-30	24.27%
2005-06-30	22.43%
2005-03-31	22.57%
2004-12-31	24.52%
2004-09-30	25.50%
2004-06-30	25.39%
2004-03-31	24.12%
2003-12-31	20.11%
2003-09-30	23.68%
2003-06-30	26.07%
2003-03-31	19.76%
2002-12-31	25.08%
2002-09-30	29.39%

EBITDA Margin: 27.47%

FRME EBITDA Margin

FRME Average EBITDA Margin Chart

FRME Current vs Average EBITDA Margin Chart

FRME EBITDA Margin Metrics

FRME Competitors' EBITDA Margin

Margin Comparison

EBITDA Margin Formula & Definition

EBITDA Margin FAQ

FRME EBITDA Margin History

Related Metrics