First Merchants (FRME) Return on Invested Capital [ROIC] (2009 - 2026)
First Merchants (FRME) recorded Return on Invested Capital [ROIC] of 12.69% in Q2 2026, down 3.19 percentage points from 15.88% a year earlier and down 1.44 percentage points from the prior quarter.
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Analysis
First Merchants (FRME) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, First Merchants reported Return on Invested Capital [ROIC] of 16.31%, down 0.68 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] has a five-year change of +8.89 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Invested Capital [ROIC] came in at 16.99% in FY2024 (+1.15 pp), 15.84% in FY2023 (+5.80 pp), 10.03% in FY2022 (+0.78 pp) and 9.25% in FY2021 (+1.83 pp).
- The Q2 2026 figure is the lowest quarterly Return on Invested Capital [ROIC] since Q1 2023.
- On a year-over-year basis, Return on Invested Capital [ROIC] has declined for six consecutive quarters, with an average year-over-year change of -0.97 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Invested Capital [ROIC] in the last five years was a gain of 7.69 percentage points in Q3 2023, against a drop of 3.19 percentage points in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 14.13% (Q1 2026), 16.02% (Q4 2025) and 16.07% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Jpmorgan Chase | 909.02 Bn | 886.77 Bn | - | 3.60% |
| 2 | Banco Santander Chile | 406.67 Bn | -7,110.43 Bn | - | - |
| 3 | Bank Of America | 350.91 Bn | -2,025.20 Bn | - | 12.95% |
| 4 | Hsbc Holdings | 308.71 Bn | -2,966.46 Bn | - | - |
| 5 | Morgan Stanley | 293.66 Bn | -249.15 Bn | - | 11.83% |
| 6 | Royal Bank Of Canada | 283.56 Bn | -546.44 Bn | - | 49.27% |
| 7 | Goldman Sachs | 262.71 Bn | -3,480.74 Bn | - | 6.60% |
| 8 | Wells Fargo & Company | 257.44 Bn | 92.87 Bn | - | 3.32% |
| 9 | Mitsubishi Ufj Financial | 256.82 Bn | -75.42 Bn | 10.89 Bn | 3.69% |
| 10 | First Merchants | 256.31 Mn | 256.31 Mn | - | 13.72% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 13.72% |
| Jun 30, 2026 | 12.69% |
| Mar 31, 2026 | 14.13% |
| Dec 31, 2025 | 16.02% |
| Sep 30, 2025 | 16.07% |
| Jun 30, 2025 | 15.88% |
| Mar 31, 2025 | 15.84% |
| Dec 31, 2024 | 16.72% |
| Sep 30, 2024 | 16.69% |
| Jun 30, 2024 | 17.23% |
| Mar 31, 2024 | 17.33% |
| Dec 31, 2023 | 16.41% |
| Sep 30, 2023 | 15.70% |
| Jun 30, 2023 | 13.63% |
| Mar 31, 2023 | 10.82% |
| Dec 31, 2022 | 9.20% |
| Sep 30, 2022 | 8.01% |
| Jun 30, 2022 | 8.14% |
| Mar 31, 2022 | 9.44% |
| Dec 31, 2021 | 9.35% |
API Access
First Merchants Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=FRME&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=FRME&period=max&api_key=YOUR_API_KEY");
const data = await res.json();