First Merchants (FRME) EV to CFO (2010 - 2026)
First Merchants' (FRME) EV to CFO was 8.63 for Q2 2026, up 2.2% from 8.45 a year earlier and unchanged from the prior quarter.
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Analysis
First Merchants (FRME) EV to CFO (2010 - 2026) Analysis & Trends
For FY2025, EV to CFO at First Merchants was 7.53, down 13.4% from FY2024.
- By year, EV to CFO came in at 8.69 in FY2024 (+2.0%), 8.51 in FY2023 (-0.5%), 8.56 in FY2022 (-17.6%) and 10.39 in FY2021 (+5.0%).
- The Q2 2026 figure ranks as the highest quarterly EV to CFO since Q1 2025.
- Year over year, EV to CFO gained in four of the last eight quarters, with growth averaging 8.4%.
- The high point for year-over-year EV to CFO in five years was Q3 2024 (growth of 64.7%); the low point was Q3 2023 (a decline of 56.9%).
- Per Business Quant data, the three quarters before Q2 2026 came in at 8.63 (Q1 2026), 7.53 (Q4 2025) and 7.97 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Jpmorgan Chase | 909.02 Bn | 886.77 Bn | - |
| 2 | Banco Santander Chile | 406.67 Bn | -7,110.43 Bn | - |
| 3 | Bank Of America | 350.91 Bn | -2,025.20 Bn | - |
| 4 | Hsbc Holdings | 308.71 Bn | -2,966.46 Bn | - |
| 5 | Morgan Stanley | 293.66 Bn | -249.15 Bn | - |
| 6 | Royal Bank Of Canada | 283.56 Bn | -546.44 Bn | - |
| 7 | Goldman Sachs | 262.71 Bn | -3,480.74 Bn | - |
| 8 | Wells Fargo & Company | 257.44 Bn | 92.87 Bn | - |
| 9 | Mitsubishi Ufj Financial | 256.82 Bn | -75.42 Bn | 10.89 Bn |
| 10 | First Merchants | 256.31 Mn | 256.31 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 0.81 |
| Jun 30, 2026 | 0.86 |
| Mar 31, 2026 | 0.86 |
| Dec 31, 2025 | 0.75 |
| Sep 30, 2025 | 0.80 |
| Jun 30, 2025 | 0.84 |
| Mar 31, 2025 | 0.87 |
| Dec 31, 2024 | 0.87 |
| Sep 30, 2024 | 0.82 |
| Jun 30, 2024 | 0.72 |
| Mar 31, 2024 | 0.89 |
| Dec 31, 2023 | 0.85 |
| Sep 30, 2023 | 0.50 |
| Jun 30, 2023 | 0.55 |
| Mar 31, 2023 | 0.61 |
| Dec 31, 2022 | 0.86 |
| Sep 30, 2022 | 1.15 |
| Jun 30, 2022 | 0.98 |
| Mar 31, 2022 | 1.04 |
| Dec 31, 2021 | 1.04 |
API Access
First Merchants EV to CFO API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=FRME&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-cfo", "ticker": "FRME", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=FRME&period=max&api_key=YOUR_API_KEY");
const data = await res.json();