First Merchants Corporation Depository Shares financials
$25.20−0.20%
Close Sep 25, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 |
|---|---|---|---|---|
| Revenue | $1.05B | $1.07B | $999.5M | $712.9M |
| Gross profit | $662.9M | $646.7M | $651.0M | $628.1M |
| Gross margin | 63.0% | 60.2% | 65.1% | 88.1% |
| Operating income | $259.1M | $231.7M | $259.2M | $255.7M |
| Net income | $224.1M | $199.5M | $221.9M | $220.7M |
| Net margin | 21.3% | 18.6% | 22.2% | 31.0% |
| Diluted EPS | $3.88 | $3.41 | $3.73 | $3.81 |
| EBITDA | $259.1M | $231.7M | $259.2M | $255.7M |
| Operating cash flow | $283.6M | $266.2M | $258.8M | $284.3M |
| Free cash flow | $283.6M | $266.2M | $258.8M | $284.3M |
| Diluted shares | 57.7M | 58.5M | 59.5M | 58.0M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|
| Cash & equivalents | $84.2M | $87.6M | $112.6M | $122.6M |
| Short-term investments | $3.62B | $3.80B | $4.29B | $4.43B |
| Total debt | $856.2M | $916.1M | $871.5M | $975.0M |
| Total assets | $19.03B | $18.31B | $18.41B | $18.00B |
| Total liabilities | $16.56B | $16.01B | $16.16B | $15.97B |
| Shareholders' equity | $2.47B | $2.30B | $2.25B | $2.03B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology