Basis: FMP quote price / unrounded FMP forward EPS in the trading currency, available after its recorded retrieval time. Source: stored company filings and market data; unavailable inputs remain N/A.
The forward PE ratio is 12.23 as of 2026-10-06T18:26:39.225Z.
Consensus retrieved: 2026-10-06T11:40:21.051Z. This records retrieval, including cache reads, rather than vendor publication. The calculation uses the separately dated price and estimate available at its as-of time.
Calculation as of: 2026-10-06T18:26:39.225Z.
Quote observation: 2026-10-06T18:25:06.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: 260d947e7c95ab369cf7721a7c4f5bfdabf343baaeb2c8b48949d680a42f51e7
Forward PE Ratio (12.23) = Dated Quote Price ($39.72) / Consensus Forward EPS ($3.25)
FORWARD PE RATIO
12.23
SECTOR MEDIAN · FINANCIAL SERVICES
11.16
median of 402 covered companies
CURRENT VS SECTOR MEDIAN
+9.64%
vs the sector median at left
First Merchants Corporation
Market Cap
$2.49B
Forward PE Ratio
12.23
| NAME | MARKET CAP | FORWARD PE RATIO |
|---|---|---|
| First Merchants Corporation (FRME) | $2.49B | 12.23 |
| First Bancorp (FBNC)vs › | $2.49B | 13.21 |
| First Busey Corporation (BUSE)vs › | $2.49B | 11.53 |
| Columbia Financial, Inc. (CLBK)vs › | $2.48B | 39.88 |
| Merchants Bancorp (MBINM)vs › | $2.54B | 4.57 |
| Oxford Lane Capital Corp. (OXLCM)vs › | $2.44B | 6.41 |
| WaFd, Inc. (WAFDP)vs › | $2.58B | 4.40 |
| The Baldwin Insurance Group, Inc. (BWIN)vs › | $2.58B | 15.83 |
| Merchants Bancorp (MBINN)vs › | $2.39B | 3.40 |
| Merchants Bancorp (MBINL)vs › | $2.38B | 4.17 |
Trailing P/E
12.7
reported TTM EPS
Forward P/E
12.2
consensus EPS · fiscal year ending 2026-12-31
The gap between the two multiples is the consensus growth expectation: analysts' forward EPS of $3.25 implies +3.8% EPS growth vs the reported trailing $3.13.
At the dated quote price of $39.72, each upcoming fiscal year's consensus EPS implies a different multiple — how quickly the price is "paid down" by expected earnings if the estimates hold.
| Fiscal year end | Consensus EPS | Estimate range | Analysts | Implied P/E |
|---|---|---|---|---|
| 2026-12-31 | $3.25 | $3.13 – $3.48 | 5 | 12.2x |
| 2027-12-31 | $4.50 | $4.43 – $4.62 | 5 | 8.8x |
| 2028-12-31 | $4.90 | $4.88 – $4.92 | 1 | 8.1x |
Source: FMP analyst consensus estimates, refreshed with the daily precompute. "n/m" = the consensus EPS is not positive, so a multiple is undefined. There is no forward P/E history chart here because charting one would require the estimates as they stood in the past, which we do not store — see the trailing P/E history for how the realized multiple has moved.
PE Ratio = Share Price / Diluted EPS (TTM)
The price-to-earnings ratio measures how much investors pay for each dollar of trailing earnings. A lower PE can indicate a cheaper valuation; a higher PE implies higher growth expectations.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
