Basis: FMP quote price / unrounded diluted EPS from four consecutive issuer fiscal quarters. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the P/E ratio high or low?
The P/E ratio of 12.69 is 21% above its 5-year average of 10.51, near the high end of its 5-year range (6.03–14.93).
As of 2026-10-06T19:47:22.396Z. 15.50% above its 12-month average of 10.99.
Calculation as of: 2026-10-06T19:47:22.396Z.
Quote observation: 2026-10-06T19:45:22.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: 260d947e7c95ab369cf7721a7c4f5bfdabf343baaeb2c8b48949d680a42f51e7
PE Ratio (12.69) = Close Price ($39.71) / Diluted TTM EPS ($3.13)
PE RATIO
12.69
PE RATIO AVG TTM
10.99
PE RATIO AVG 3Y
10.68
PE RATIO AVG 5Y
10.51
PE RATIO AVG 10Y
12.75
PE RATIO AVG 15Y
13.25
PE RATIO AVG 20Y
13.21
CURRENT VS TTM AVG
+15.50%
CURRENT VS 3Y AVG
+18.82%
CURRENT VS 5Y AVG
+20.80%
CURRENT VS 10Y AVG
-0.47%
CURRENT VS 15Y AVG
-4.25%
CURRENT VS 20Y AVG
-3.97%
SECTOR MEDIAN · FINANCIAL SERVICES
13.84
median of 554 covered companies
CURRENT VS SECTOR MEDIAN
-8.28%
vs the sector median at left
First Merchants Corporation
Market Cap
$2.49B
PE Ratio
12.69
TTM Avg
10.99
3Y Avg
10.68
5Y Avg
10.51
| NAME | MARKET CAP | PE RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| First Merchants Corporation (FRME) | $2.49B | 12.69 | 10.99 | 10.68 | 10.51 |
| First Bancorp (FBNC)vs › | $2.49B | 18.68 | 21.44 | 18.05 | 15.29 |
| First Busey Corporation (BUSE)vs › | $2.48B | 10.60 | 14.34 | 13.77 | 12.55 |
| Columbia Financial, Inc. (CLBK)vs › | $2.47B | 42.54 | 84.23 | 90.55 | 61.41 |
| Merchants Bancorp (MBINM)vs › | $2.54B | 5.10 | 5.92 | 4.95 | 5.11 |
| Oxford Lane Capital Corp. (OXLCM)vs › | $2.44B | N/A | N/A | N/A | N/A |
| WaFd, Inc. (WAFDP)vs › | $2.57B | 4.71 | 5.69 | 5.87 | 6.18 |
| The Baldwin Insurance Group, Inc. (BWIN)vs › | $2.58B | N/A | N/A | N/A | N/A |
| Merchants Bancorp (MBINN)vs › | $2.39B | 3.80 | 4.69 | 3.99 | 4.32 |
| Nuveen Quality Municipal Income Fund (NAD)vs › | $2.37B | N/A | N/A | N/A | N/A |
At 12.7, P/E is near its 20-year median — higher than 45% of readings in its 20-year history.
20-year low
4.6
median
13.1
20-year high
44.6
Trailing P/E
12.7
Forward P/E
12.2
Forward P/E is calculated using analyst consensus EPS estimates for the current or next fiscal year.
Calculation:
Current Price
$39.71
Forward EPS (Est.)
$3.25
Forward P/E
12.22
Source: FMP Analyst Consensus Estimates. Forward EPS represents the average analyst estimate for the nearest fiscal year.
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
| DATE | PE RATIO |
|---|---|
| 2026-10-05 | 12.71 |
| 2026-10-02 | 12.83 |
| 2026-10-01 | 12.65 |
| 2026-09-30 | 12.71 |
| 2026-09-29 | 12.81 |
| 2026-09-28 | 12.90 |
| 2026-09-25 | 13.01 |
| 2026-09-24 | 12.94 |
| 2026-09-23 | 12.79 |
| 2026-09-22 | 12.99 |
| 2026-09-21 | 13.07 |
| 2026-09-18 | 13.06 |
| 2026-09-17 | 13.07 |
| 2026-09-16 | 13.12 |
| 2026-09-15 | 13.33 |
| 2026-09-14 | 13.26 |
| 2026-09-11 | 13.13 |
| 2026-09-10 | 13.13 |
| 2026-09-09 | 13.01 |
| 2026-09-08 | 13.15 |
| 2026-09-04 | 13.44 |
| 2026-09-03 | 13.45 |
| 2026-09-02 | 13.31 |
| 2026-09-01 | 13.07 |
| 2026-08-31 | 13.25 |
| 2026-08-28 | 13.40 |
| 2026-08-27 | 13.31 |
| 2026-08-26 | 13.32 |
| 2026-08-25 | 13.28 |
| 2026-08-24 | 13.39 |
| 2026-08-21 | 13.43 |
| 2026-08-20 | 13.40 |
| 2026-08-19 | 13.42 |
| 2026-08-18 | 13.81 |
| 2026-08-17 | 13.90 |
| 2026-08-14 | 13.96 |
| 2026-08-13 | 13.86 |
| 2026-08-12 | 13.81 |
| 2026-08-11 | 13.66 |
| 2026-08-10 | 13.55 |
| 2026-08-07 | 13.61 |
| 2026-08-06 | 13.67 |
| 2026-08-05 | 13.86 |
| 2026-08-04 | 13.90 |
| 2026-08-03 | 13.94 |
| 2026-07-31 | 12.65 |
| 2026-07-30 | 12.68 |
| 2026-07-29 | 12.69 |
| 2026-07-28 | 12.73 |
| 2026-07-27 | 12.51 |
| 2026-07-24 | 12.66 |
| 2026-07-23 | 12.28 |
| 2026-07-22 | 12.83 |
| 2026-07-21 | 12.91 |
| 2026-07-20 | 13.00 |
| 2026-07-17 | 13.08 |
| 2026-07-16 | 13.26 |
| 2026-07-15 | 12.83 |
| 2026-07-14 | 12.70 |
| 2026-07-13 | 12.70 |
| 2026-07-10 | 12.64 |
| 2026-07-09 | 12.48 |
| 2026-07-08 | 12.36 |
| 2026-07-07 | 12.56 |
| 2026-07-06 | 12.74 |
| 2026-07-02 | 12.74 |
| 2026-07-01 | 12.99 |
| 2026-06-30 | 12.81 |
| 2026-06-29 | 12.73 |
| 2026-06-26 | 12.81 |
| 2026-06-25 | 12.72 |
| 2026-06-24 | 12.49 |
| 2026-06-23 | 12.29 |
| 2026-06-22 | 12.08 |
| 2026-06-18 | 11.94 |
| 2026-06-17 | 11.90 |
| 2026-06-16 | 12.10 |
| 2026-06-15 | 12.07 |
| 2026-06-12 | 12.34 |
| 2026-06-11 | 12.09 |
| 2026-06-10 | 12.07 |
| 2026-06-09 | 11.91 |
| 2026-06-08 | 11.74 |
| 2026-06-05 | 11.71 |
| 2026-06-04 | 11.76 |
| 2026-06-03 | 11.41 |
| 2026-06-02 | 11.77 |
| 2026-06-01 | 11.59 |
| 2026-05-29 | 11.82 |
| 2026-05-28 | 11.88 |
| 2026-05-27 | 11.80 |
| 2026-05-26 | 12.01 |
| 2026-05-22 | 11.77 |
| 2026-05-21 | 11.80 |
| 2026-05-20 | 11.76 |
| 2026-05-19 | 11.61 |
| 2026-05-18 | 11.61 |
| 2026-05-15 | 11.47 |
| 2026-05-14 | 11.66 |
| 2026-05-13 | 11.57 |
| 2026-05-12 | 11.71 |
| 2026-05-11 | 11.70 |
| 2026-05-08 | 11.85 |
| 2026-05-07 | 11.88 |
| 2026-05-06 | 11.94 |
| 2026-05-05 | 11.89 |
| 2026-05-04 | 11.74 |
| 2026-05-01 | 10.39 |
| 2026-04-30 | 10.40 |
| 2026-04-29 | 10.24 |
| 2026-04-28 | 10.41 |
| 2026-04-27 | 10.36 |
| 2026-04-24 | 10.18 |
| 2026-04-23 | 10.21 |
| 2026-04-22 | 10.38 |
| 2026-04-21 | 10.38 |
| 2026-04-20 | 10.60 |
| 2026-04-17 | 10.58 |
| 2026-04-16 | 10.31 |
| 2026-04-15 | 10.42 |
| 2026-04-14 | 10.50 |
| 2026-04-13 | 10.57 |
| 2026-04-10 | 10.56 |
| 2026-04-09 | 10.66 |
| 2026-04-08 | 10.50 |
| 2026-04-07 | 10.28 |
| 2026-04-06 | 10.28 |
| 2026-04-02 | 10.14 |
| 2026-04-01 | 10.11 |
| 2026-03-31 | 9.96 |
| 2026-03-30 | 9.81 |
| 2026-03-27 | 9.73 |
| 2026-03-26 | 9.84 |
| 2026-03-25 | 9.81 |
| 2026-03-24 | 9.76 |
| 2026-03-23 | 9.74 |
| 2026-03-20 | 9.40 |
| 2026-03-19 | 9.41 |
| 2026-03-18 | 9.37 |
| 2026-03-17 | 9.43 |
| 2026-03-16 | 9.45 |
| 2026-03-13 | 9.37 |
| 2026-03-12 | 9.40 |
| 2026-03-11 | 9.50 |
| 2026-03-10 | 9.61 |
| 2026-03-09 | 9.49 |
| 2026-03-06 | 9.65 |
| 2026-03-05 | 9.91 |
| 2026-03-04 | 10.02 |
| 2026-03-03 | 10.05 |
| 2026-03-02 | 10.12 |
| 2026-02-27 | 10.05 |
| 2026-02-26 | 10.55 |
| 2026-02-25 | 10.28 |
| 2026-02-24 | 10.10 |
| 2026-02-23 | 10.19 |
| 2026-02-20 | 10.59 |
| 2026-02-19 | 10.52 |
| 2026-02-18 | 10.57 |
| 2026-02-17 | 10.64 |
| 2026-02-13 | 10.51 |
| 2026-02-12 | 10.41 |
| 2026-02-11 | 10.51 |
| 2026-02-10 | 10.45 |
| 2026-02-09 | 10.51 |
| 2026-02-06 | 10.59 |
| 2026-02-05 | 10.46 |
| 2026-02-04 | 10.46 |
| 2026-02-03 | 10.20 |
| 2026-02-02 | 10.22 |
| 2026-01-30 | 9.94 |
| 2026-01-29 | 9.73 |
| 2026-01-28 | 9.47 |
| 2026-01-27 | 9.55 |
| 2026-01-26 | 9.50 |
| 2026-01-23 | 9.52 |
| 2026-01-22 | 9.91 |
| 2026-01-21 | 9.83 |
| 2026-01-20 | 9.42 |
| 2026-01-16 | 9.52 |
| 2026-01-15 | 9.63 |
| 2026-01-14 | 9.45 |
| 2026-01-13 | 9.30 |
| 2026-01-12 | 9.41 |
| 2026-01-09 | 9.53 |
| 2026-01-08 | 9.67 |
| 2026-01-07 | 9.48 |
| 2026-01-06 | 9.59 |
| 2026-01-05 | 9.54 |
| 2026-01-02 | 9.38 |
| 2025-12-31 | 9.37 |
| 2025-12-30 | 9.41 |
| 2025-12-29 | 9.50 |
| 2025-12-26 | 9.57 |
| 2025-12-24 | 9.59 |
| 2025-12-23 | 9.62 |
| 2025-12-22 | 9.67 |
| 2025-12-19 | 9.59 |
| 2025-12-18 | 9.74 |
| 2025-12-17 | 9.72 |
| 2025-12-16 | 9.71 |
| 2025-12-15 | 9.75 |
| 2025-12-12 | 9.71 |
| 2025-12-11 | 9.70 |
| 2025-12-10 | 9.65 |
| 2025-12-09 | 9.27 |
| 2025-12-08 | 9.31 |
| 2025-12-05 | 9.33 |
| 2025-12-04 | 9.40 |
| 2025-12-03 | 9.38 |
| 2025-12-02 | 9.20 |
| 2025-12-01 | 9.29 |
| 2025-11-28 | 9.21 |
| 2025-11-26 | 9.28 |
| 2025-11-25 | 9.30 |
| 2025-11-24 | 9.14 |
| 2025-11-21 | 9.21 |
| 2025-11-20 | 8.82 |
| 2025-11-19 | 8.84 |
| 2025-11-18 | 8.78 |
| 2025-11-17 | 8.75 |
| 2025-11-14 | 9.06 |
| 2025-11-13 | 9.04 |
| 2025-11-12 | 8.97 |
| 2025-11-11 | 9.08 |
| 2025-11-10 | 9.05 |
| 2025-11-07 | 9.01 |
| 2025-11-06 | 8.91 |
| 2025-11-05 | 9.03 |
| 2025-11-04 | 8.92 |
| 2025-11-03 | 8.94 |
| 2025-10-31 | 8.87 |
| 2025-10-30 | 9.26 |
| 2025-10-29 | 9.23 |
| 2025-10-28 | 9.48 |
| 2025-10-27 | 9.52 |
| 2025-10-24 | 9.66 |
| 2025-10-23 | 9.44 |
| 2025-10-22 | 9.48 |
| 2025-10-21 | 9.56 |
| 2025-10-20 | 9.52 |
| 2025-10-17 | 9.25 |
| 2025-10-16 | 9.15 |
| 2025-10-15 | 9.59 |
| 2025-10-14 | 9.76 |
| 2025-10-13 | 9.51 |
| 2025-10-10 | 9.37 |
| 2025-10-09 | 9.66 |
| 2025-10-08 | 9.79 |
| 2025-10-07 | 9.86 |
| 2025-10-06 | 9.97 |
| 2025-10-03 | 9.84 |
| 2025-10-02 | 9.71 |
| 2025-10-01 | 9.79 |
| 2025-09-30 | 9.77 |
| 2025-09-29 | 9.70 |
| 2025-09-26 | 9.90 |
| 2025-09-25 | 10.09 |
| 2025-09-24 | 10.24 |
| 2025-09-23 | 10.25 |
Showing the most recent 260 of 4,489 data points. The chart above shows the full history.
