First Merchants Corporation

Financial Health of First Merchants Corporation

Comparing to competitors in the Banks-Regional industry

Industry Rankings

First Merchants Corporation
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Company's Financial Health
A deep dive into the books. How are the numbers doing? Is First Merchants Corporation even making a profit? Is the company skyrocketing? Or is it sinking like the Titanic. The trend is your friend.
Market Valuation
Finally, you now have an insight of how First Merchants Corporation is doing in the market. If the company is worth buying. The latest step is to find out how other investors value First Merchants Corporation. The closing price on 2022-12-07 was $41.71 per share. Is the company over- or underpriced?
Key Performance Indicators
A total overlook on how the company is doing. Based on the (trends in) the key performance indicators.

First Merchants Corporation Daily Candlestick Chart

Summary

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a huge profit.
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is inefficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating very efficient.
The company is very efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is unable to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is just able to pay all its debts by selling its assets.
The company is unable to pay all its debts with equity.

1.1. Profitability of First Merchants Corporation.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit First Merchants Corporation earns for each $1 of revenue.

Above 10% is considered healthy but always compare First Merchants Corporation to the Banks-Regional industry mean.
A Net Profit Margin of 38.7% means that $0.39 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of First Merchants Corporation:

The MRQ is 38.7%. The company is making a huge profit. +2
The TTM is 36.4%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	38.7%	TTM	36.4%	+2.4%
TTM	36.4%	YOY	38.8%	-2.4%
TTM	36.4%	5Y	35.6%	+0.7%
5Y	35.6%	10Y	30.3%	+5.4%

Compared to industry (Banks-Regional)

Period	Company	Industry (mean)	+/-
MRQ	38.7%	29.1%	+9.6%
TTM	36.4%	28.4%	+8.0%
YOY	38.8%	26.4%	+12.4%
5Y	35.6%	23.2%	+12.4%
10Y	30.3%	21.0%	+9.3%

Measures how much net profit First Merchants Corporation earns for each $1 of revenue.

Revenue is the amount of profit First Merchants Corporation generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit First Merchants Corporation earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare First Merchants Corporation to the Banks-Regional industry mean.
Can be used to compare companies within the Banks-Regional industry.

You typically want a high profit margin. This means that for each $1 in sales, First Merchants Corporation makes more profit. This shows the investor how efficiently First Merchants Corporation is operating in general and compared to other companies in the same industry. First Merchants Corporation operates in the Banks-Regional industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of First Merchants Corporation. If profit margins remain low (compared to the Banks-Regional industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of First Merchants Corporation is 0.39. This means that First Merchants Corporation earned $0.39 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Banks-Regional industry is 29.1%.
What is the trend?
The trend is important because it shows you how First Merchants Corporation is performing over time. The most recent quarter might be important if First Merchants Corporation released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for First Merchants Corporation up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare First Merchants Corporation with other companies in the same industry (Banks-Regional).
Net profit margin should rise over the years.
Can be influenced when First Merchants Corporation sells assets (profit will increase while costs remain the same).
It won’t show what part of First Merchants Corporation is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of First Merchants Corporation

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ First Merchants Corporation = 63,283
Total revenue MRQ First Merchants Corporation = 163,338
$63,283 / $163,338 = 0.39 or 38.7%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient First Merchants Corporation is using its assets to generate profit.

Above 5% is considered healthy but always compare First Merchants Corporation to the Banks-Regional industry mean.
0.4% Return on Assets means that First Merchants Corporation generated $0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of First Merchants Corporation:

The MRQ is 0.4%. Using its assets, the company is inefficient in making profit. -1
The TTM is 0.3%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.4%	TTM	0.3%	+0.1%
TTM	0.3%	YOY	0.3%	0.0%
TTM	0.3%	5Y	0.3%	0.0%
5Y	0.3%	10Y	0.3%	+0.0%

Compared to industry (Banks-Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.4%	0.3%	+0.1%
TTM	0.3%	0.3%	0.0%
YOY	0.3%	0.3%	+0.0%
5Y	0.3%	0.2%	+0.1%
10Y	0.3%	0.2%	+0.1%

Shows how efficient First Merchants Corporation is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare First Merchants Corporation to the Banks-Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively First Merchants Corporation is using its resources to generate profit. If the return on assets (0.4%) from First Merchants Corporation are higher than the Banks-Regional mean (0.3%) that means First Merchants Corporation is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of First Merchants Corporation is 0.4%. This means the company generated $0.00 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Banks-Regional industry is 0.3%.
What is the trend?
The trend is important because it shows you how First Merchants Corporation is performing over time. The most recent quarter might be important if First Merchants Corporation released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for First Merchants Corporation up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example First Merchants Corporation

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from First Merchants Corporation = 63,283
Total assets MRQ (balance sheet) from First Merchants Corporation = 17,718,985
63,283 / 17,718,985 = 0.00 or 0.4%

ROA is an important ratio as it will tell you how effectively First Merchants Corporation is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient First Merchants Corporation is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare First Merchants Corporation to the Banks-Regional industry mean.
3.3% Return on Equity means First Merchants Corporation generated $0.03 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of First Merchants Corporation:

The MRQ is 3.3%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 2.6%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	3.3%	TTM	2.6%	+0.7%
TTM	2.6%	YOY	2.7%	-0.1%
TTM	2.6%	5Y	2.5%	+0.1%
5Y	2.5%	10Y	2.3%	+0.2%

Compared to industry (Banks-Regional)

Period	Company	Industry (mean)	+/-
MRQ	3.3%	2.8%	+0.5%
TTM	2.6%	2.7%	-0.1%
YOY	2.7%	2.5%	+0.2%
5Y	2.5%	2.4%	+0.1%
10Y	2.3%	2.3%	+0.0%

Shows how efficient First Merchants Corporation is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare First Merchants Corporation to the Banks-Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Banks-Regional industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of First Merchants Corporation is 3.3%. This means First Merchants Corporation generated $0.03 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Banks-Regional industry is 2.8%.
What is the trend?
The trend is important because it shows you how First Merchants Corporation is performing over time. The most recent quarter might be important if First Merchants Corporation released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for First Merchants Corporation up to 10 years back (depending if First Merchants Corporation existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of First Merchants Corporation

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) First Merchants Corporation = 63,283
Shareholders equity (balance sheet) MRQ First Merchants Corporation = 1,906,666
63,283 / 1,906,666 = 0.03 or 3.3%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of First Merchants Corporation.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient First Merchants Corporation is operating .

Measures how much profit First Merchants Corporation makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare First Merchants Corporation to the Banks-Regional industry mean.
An Operating Margin of 58.8% means the company generated $0.59 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of First Merchants Corporation:

The MRQ is 58.8%. The company is operating very efficient. +2
The TTM is 50.4%. The company is operating very efficient. +2

Trends

Current period		Compared to		+/-
MRQ	58.8%	TTM	50.4%	+8.4%
TTM	50.4%	YOY	53.0%	-2.6%
TTM	50.4%	5Y	56.5%	-6.1%
5Y	56.5%	10Y	49.5%	+6.9%

Compared to industry (Banks-Regional)

Period	Company	Industry (mean)	+/-
MRQ	58.8%	45.5%	+13.3%
TTM	50.4%	45.5%	+4.9%
YOY	53.0%	45.9%	+7.1%
5Y	56.5%	43.4%	+13.1%
10Y	49.5%	38.5%	+11.0%

Measures how efficient First Merchants Corporation is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare First Merchants Corporation to the Banks-Regional industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit First Merchants Corporation is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of First Merchants Corporation is 58.8%. This means that First Merchants Corporation earned $0.59 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Banks-Regional industry is 45.5%.
What is the trend?
The trend is important because it shows you how First Merchants Corporation is performing over time. The most recent quarter might be important if First Merchants Corporation released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for First Merchants Corporation up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of First Merchants Corporation

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ First Merchants Corporation = 73,545
Total revenue MRQ First Merchants Corporation = 163,338
$73,545 / $163,338 = 0.59 or 58.8%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient First Merchants Corporation is keeping operating costs low.

Below 1 is considered healthy (always compare to Banks-Regional industry mean).
An Operation Ratio of 0.01 means that the operating costs are $0.01 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of First Merchants Corporation:

The MRQ is 0.015. The company is very efficient in keeping operating costs low. +2
The TTM is 0.172. The company is very efficient in keeping operating costs low. +2

Trends

Current period		Compared to		+/-
MRQ	0.015	TTM	0.172	-0.157
TTM	0.172	YOY	-0.208	+0.380
TTM	0.172	5Y	0.462	-0.291
5Y	0.462	10Y	0.666	-0.203

Compared to industry (Banks-Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.015	0.080	-0.065
TTM	0.172	0.201	-0.029
YOY	-0.208	0.330	-0.538
5Y	0.462	0.403	+0.059
10Y	0.666	0.408	+0.258

Measures how efficient First Merchants Corporation is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare First Merchants Corporation to the Banks-Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of First Merchants Corporation is 1.5%. This means that First Merchants Corporation earned $0.01 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Banks-Regional industry is 0.08.
What is the trend?
The trend is important because it shows you how First Merchants Corporation is performing over time. The most recent quarter might be important if First Merchants Corporation released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for First Merchants Corporation up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example First Merchants Corporation

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
( +2,401) \ 163,338 = 0.01

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of First Merchants Corporation.

1.3. Liquidity

1.3.1. Current Ratio

Measures if First Merchants Corporation is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Banks-Regional industry mean).
A Current Ratio of 0.15 means the company has $0.15 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of First Merchants Corporation:

The MRQ is 0.147. The company is unable to pay all its short-term debts. -2
The TTM is 0.290. The company is unable to pay all its short-term debts. -2

Trends

Current period		Compared to		+/-
MRQ	0.147	TTM	0.290	-0.143
TTM	0.290	YOY	0.842	-0.552
TTM	0.290	5Y	0.766	-0.476
5Y	0.766	10Y	0.825	-0.059

Compared to industry (Banks-Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.147	0.244	-0.097
TTM	0.290	0.329	-0.039
YOY	0.842	0.352	+0.490
5Y	0.766	0.337	+0.429
10Y	0.825	0.283	+0.542

Measures if First Merchants Corporation is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Banks-Regional industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for First Merchants Corporation if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of First Merchants Corporation is 0.15. This means First Merchants Corporation has $0.15 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Banks-Regional industry is 0.24.
What is the trend?
The trend is important because it shows you how First Merchants Corporation is performing over time. The most recent quarter might be important if First Merchants Corporation released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for First Merchants Corporation up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example First Merchants Corporation

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
2,175,109 \ 14,819,278) = 0.15

The current ratio measures if First Merchants Corporation is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if First Merchants Corporation is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then First Merchants Corporation does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate First Merchants Corporation is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if First Merchants Corporation is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare First Merchants Corporation to the Banks-Regional industry mean.
A Quick Ratio of 0.28 means the company can pay off $0.28 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of First Merchants Corporation:

The MRQ is 0.281. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 0.253. The company is just not able to pay all its short-term debts with the most liquid assets. -1

Trends

Current period		Compared to		+/-
MRQ	0.281	TTM	0.253	+0.028
TTM	0.253	YOY	0.430	-0.178
TTM	0.253	5Y	0.335	-0.082
5Y	0.335	10Y	0.306	+0.029

Compared to industry (Banks-Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.281	0.233	+0.048
TTM	0.253	0.170	+0.083
YOY	0.430	0.168	+0.262
5Y	0.335	0.138	+0.197
10Y	0.306	0.105	+0.201

Measures if First Merchants Corporation is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare First Merchants Corporation to the Banks-Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast First Merchants Corporation can pay off its short term debts. This shows if First Merchants Corporation can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of First Merchants Corporation is 0.28. This means that First Merchants Corporation can pay off $0.28 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Banks-Regional industry is 0.23.
What is the trend?
The trend is important because it shows you how First Merchants Corporation is performing over time. The most recent quarter might be important if First Merchants Corporation released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for First Merchants Corporation up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example First Merchants Corporation

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio First Merchants Corporation: (2,103,504 + 1,983,972 +71,605) / 14,819,278 = 0.28

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of First Merchants Corporation.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of First Merchants Corporation assets are financed with debt.

Below 1 (100%) is considered healthy but always compare First Merchants Corporation to Banks-Regional industry mean.
A Debt to Asset Ratio of 0.89 means that First Merchants Corporation assets are financed with 89.2% credit (debt) and the remaining percentage (100% - 89.2%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of First Merchants Corporation:

The MRQ is 0.892. The company is just able to pay all its debts by selling its assets.
The TTM is 0.885. The company is just able to pay all its debts by selling its assets.

Trends

Current period		Compared to		+/-
MRQ	0.892	TTM	0.885	+0.007
TTM	0.885	YOY	0.873	+0.012
TTM	0.885	5Y	0.868	+0.017
5Y	0.868	10Y	0.871	-0.003

Compared to industry (Banks-Regional)

Period	Company	Industry (mean)	+/-
MRQ	0.892	0.907	-0.015
TTM	0.885	0.904	-0.019
YOY	0.873	0.899	-0.026
5Y	0.868	0.898	-0.030
10Y	0.871	0.897	-0.026

Measures how much % of First Merchants Corporation assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake First Merchants Corporation than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare First Merchants Corporation to Banks-Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of First Merchants Corporation is 0.89. This means means that First Merchants Corporation is financed with 89.2% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Banks-Regional industry is 24.4%.
What is the trend?
The trend is important because it shows you how First Merchants Corporation is performing over time. The most recent quarter might be important if First Merchants Corporation released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for First Merchants Corporation up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why First Merchants Corporation has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example First Merchants Corporation

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
15,812,319 \ 17,718,985 = 89.2% or 0.89.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if First Merchants Corporation is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare First Merchants Corporation to the Banks-Regional industry mean.
A Debt to Equity ratio of 829.3% means that company has $8.29 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of First Merchants Corporation:

The MRQ is 8.293. The company is unable to pay all its debts with equity. -1
The TTM is 7.730. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	8.293	TTM	7.730	+0.563
TTM	7.730	YOY	6.909	+0.821
TTM	7.730	5Y	6.644	+1.086
5Y	6.644	10Y	6.814	-0.170

Compared to industry (Banks-Regional)

Period	Company	Industry (mean)	+/-
MRQ	8.293	9.842	-1.549
TTM	7.730	9.445	-1.715
YOY	6.909	8.971	-2.062
5Y	6.644	8.961	-2.317
10Y	6.814	8.910	-2.096

Measures if First Merchants Corporation is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of First Merchants Corporation is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of First Merchants Corporation is 8.29. This means that First Merchants Corporation can pay off $8.29 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Banks-Regional industry is 9.84.
What is the trend?
The trend is important because it shows you how First Merchants Corporation is performing over time. The most recent quarter might be important if First Merchants Corporation released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for First Merchants Corporation up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example First Merchants Corporation

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
15,812,319 \ 1,906,666 = 8.29 or 829.3%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of First Merchants Corporation

2. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings First Merchants Corporation generates.

Above 15 is considered overpriced but always compare First Merchants Corporation to the Banks-Regional industry mean.
A PE ratio of 36.79 means the investor is paying $36.79 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of First Merchants Corporation:

The EOD is 39.672. Good. +1
The MRQ is 36.790. Good. +1
The TTM is 48.748. Good. +1

Trends

Current period		Compared to		+/-
EOD	39.672	MRQ	36.790	+2.882
MRQ	36.790	TTM	48.748	-11.958
TTM	48.748	YOY	48.968	-0.220
TTM	48.748	5Y	54.920	-6.172
5Y	54.920	10Y	73.379	-18.459

Compared to industry (Banks-Regional)

Period	Company	Industry (mean)	+/-
EOD	39.672	38.897	+0.775
MRQ	36.790	38.055	-1.265
TTM	48.748	41.414	+7.334
YOY	48.968	37.960	+11.008
5Y	54.920	45.533	+9.387
10Y	73.379	44.091	+29.288

Measures how much money you pay for each share for every $1 in earnings First Merchants Corporation generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare First Merchants Corporation to the Banks-Regional industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of First Merchants Corporation is 36.79. This means the investor is paying $36.79 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Banks-Regional industry is 38.06.
What is the trend?
The trend is important because it shows you how First Merchants Corporation is performing over time. The most recent quarter might be important if First Merchants Corporation released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for First Merchants Corporation up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example First Merchants Corporation

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
63,283 \ 60,191 = EPS
PE ratio MRQ = 36.79

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of First Merchants Corporation.

Lower is better.
A PEG ratio of 1 means the market price of the stock and the expected future earnings are on par.

Let's take a look of the Price Earnings to Growth Ratio trends of First Merchants Corporation:

The MRQ is 94.026. Seems overpriced? -1
The TTM is 572.580. Seems overpriced? -1

Trends

Current period		Compared to		+/-
MRQ	94.026	TTM	572.580	-478.555
TTM	572.580	YOY	99.975	+472.606
TTM	572.580	5Y	5,374.163	-4,801.582
5Y	5,374.163	10Y	5,791.405	-417.243

Compared to industry (Banks-Regional)

Period	Company	Industry (mean)	+/-
MRQ	94.026	0.600	+93.426
TTM	572.580	0.174	+572.406
YOY	99.975	0.241	+99.734
5Y	5,374.163	0.129	+5,374.034
10Y	5,791.405	0.135	+5,791.270

PEG Ratio	Meaning
0.5	You can buy the stock cheap based on future growth
1	You pay a fair price based on future growth
2	The stock is overpriced based on future growth

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of First Merchants Corporation is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Banks-Regional industry mean).
A PB ratio of 1.22 means the investor is paying $1.22 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of First Merchants Corporation:

The EOD is 1.317. Good. +1
The MRQ is 1.221. Good. +1
The TTM is 1.240. Good. +1

Trends

Current period		Compared to		+/-
EOD	1.317	MRQ	1.221	+0.096
MRQ	1.221	TTM	1.240	-0.019
TTM	1.240	YOY	1.336	-0.096
TTM	1.240	5Y	1.385	-0.145
5Y	1.385	10Y	1.657	-0.272

Compared to industry (Banks-Regional)

Period	Company	Industry (mean)	+/-
EOD	1.317	1.013	+0.304
MRQ	1.221	0.999	+0.222
TTM	1.240	1.041	+0.199
YOY	1.336	0.894	+0.442
5Y	1.385	0.974	+0.411
10Y	1.657	0.884	+0.773

2. Total Gains per Share

2.4. Latest News of First Merchants Corporation

Does First Merchants Corporation still have the same value as the quarterly reports suggest? Recent changes may be an indication that the value of the company is changing. Read the news from First Merchants Corporation to keep up to date. Note: the news is often already included in the price.

Date	Title	Read
2022-12-01 14:50	First Merchants (FRME) is on the Move, Here's Why the Trend Could be Sustainable	Read
2022-11-11 14:50	First Merchants (FRME) is on the Move, Here's Why the Trend Could be Sustainable	Read

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of First Merchants Corporation.

3.1. Institutions holding First Merchants Corporation

Institutions are holding 74.351% of the shares of First Merchants Corporation.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2022-06-30	Vanguard Group Inc	10.3587	0.0061	6126702	417734	7.3172
2022-06-30	Dimensional Fund Advisors, Inc.	4.6679	0.0353	2760824	110734	4.1785
2022-06-30	Earnest Partners LLC	4.4226	0.6206	2615745	-92790	-3.4258
2022-06-30	Cardinal Capital Management Llc	3.8277	2.4663	2263928	-73251	-3.1342
2022-06-30	State Street Corporation	3.1766	0.004	1878813	-3557	-0.189
2022-06-30	DePrince Race & Zollo Inc	1.9075	0.929	1128193	-10059	-0.8837
2022-06-30	Geode Capital Management, LLC	1.7558	0.0054	1038449	-1032165	-49.8483
2022-06-30	Principal Financial Group Inc	1.7544	0.0274	1037652	212253	25.7152
2022-06-30	Goldman Sachs Group Inc	1.737	0.0083	1027344	-378699	-26.9337
2022-06-30	Manufacturers Life Insurance Co	1.6647	0.0246	984594	-426330	-30.2164
2022-06-30	William Blair Investment Management, LLC	1.5942	0.1245	942914	-23820	-2.464
2022-06-30	Victory Capital Management Inc.	1.4423	0.0346	853081	-57104	-6.2739
2022-06-30	PL Capital Advisors, LLC	1.2822	7.6968	758333	7000	0.9317
2022-06-30	Bank of New York Mellon Corp	1.2594	0.0061	744887	-35332	-4.5285
2022-06-30	Nuveen Asset Management, LLC	1.1558	0.0094	683631	155313	29.3976
2022-06-30	Northern Trust Corp	1.1336	0.0051	670460	16061	2.4543
2022-06-30	Boston Partners Global Investors, Inc	1.1168	0.0337	660546	12398	1.9128
2022-06-30	Schroder Investment Management Group	1.073	0.0346	634611	951	0.1501
2022-06-30	Systematic Financial Management LP	1.0718	0.7842	633921	12430	2
2022-06-30	Public Employees Retirt Assn Of Colorado	0.9875	0.1141	584077	105700	22.0955
Total		47.3895	12.9701	28028705	-1082533	-3.9%

3.2. Funds holding First Merchants Corporation

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2022-10-31	Vanguard Total Stock Mkt Idx Inv	3.0401	0.007	1798085	34964	1.9831
2022-09-30	Vanguard Instl Ttl Stck Mkt Idx Tr	2.981	0.0064	1763121	24086	1.385
2022-10-31	Vanguard Small Cap Index	2.5956	0.0589	1535170	24502	1.6219
2022-10-31	iShares Russell 2000 ETF	2.1907	0.1092	1295726	4237	0.3281
2022-09-30	Cardinal Capital SMID Cap Value Equity	1.9384	2.3435	1146489	105999	10.1874
2022-10-31	Vanguard Small Cap Value Index Inv	1.7793	0.1019	1052403	18968	1.8354
2022-09-30	Harbor Small Cap Value Instl	1.3977	1.7049	826666	-7527	-0.9023
2022-09-30	Cardinal Capital Mgt Small Cap Value Eq	1.397	4.1228	826282	-12485	-1.4885
2022-10-31	Vanguard Extended Market Index Investor	1.347	0.0427	796702	6657	0.8426
2022-10-31	iShares Russell 2000 Value ETF	1.0263	0.2221	606995	1795	0.2966
2022-09-30	Goldman Sachs Small Cap Value A	0.8932	0.6874	528272	-36611	-6.4812
2022-09-30	American Century Small Cap Value Inv	0.8538	0.3973	505000	70000	16.092
2022-09-30	American Century U.S. Small Cap Value	0.8538	0.3978	505000	70000	16.092
2022-09-30	DFA US Targeted Value I	0.7937	0.1703	469462	4635	0.9971
2022-08-31	Fidelity® Small Cap Index	0.7471	0.0938	441864	8841	2.0417
2022-08-31	JHancock Regional Bank A	0.6883	1.4047	407082	-9250	-2.2218
2022-09-30	DFA US Small Cap I	0.6683	0.1205	395266	0	0
2022-10-31	Vanguard Dividend Appreciation ETF	0.6476	0.0231	383010	1387	0.3634
2022-09-30	Integrity Small-Cap Value Comp	0.6371	1.0838	376800	0	0
2022-09-30	Victory Integrity Small-Cap Value A	0.6371	1.0811	376800	0	0
Total		27.1131	14.1792	16036195	+310198	+1.9%

3.3. Insider Transactions

Insiders are holding 1.444% of the shares of First Merchants Corporation.

Date	Owner	Type	Amount	Price	Post Transaction Amount
2022-10-31	Stephan Fluhler	SELL	3174	44.29	22576
2022-10-28	Charles E Schalliol	SELL	24523	44.25	32020
2022-05-20	Patrick J Fehring	SELL	10400	38.4	138988
2022-05-18	Patrick J Fehring	SELL	1400	39.43	149988
2022-05-02	Patrick A Sherman	BUY	12	40.19	51125
2022-04-01	Patrick A Sherman	BUY	12	41.97	51113
2022-03-01	Patrick A Sherman	BUY	12	43.1
2022-02-01	Patrick A Sherman	BUY	12	42.73
2022-01-03	Patrick A Sherman	BUY	12	41.94
2021-12-09	Stephan Fluhler	SELL	3155	40.34
2021-12-01	Patrick A Sherman	BUY	12	40.65
2021-11-01	Patrick A Sherman	BUY	12	42.07
2021-10-01	Patrick A Sherman	BUY	12	42.13
2021-09-01	Patrick A Sherman	BUY	12	41.17
2021-05-26	Mark K. Hardwick	SELL	8090	45.36
2021-05-12	Michael R. Becher	SELL	1100	46.04
2021-04-01	Patrick A Sherman	BUY	11	47.07	47847
2021-03-18	Michael C. Marhenke	SELL	9000	50	43789
2021-03-01	William L. Hoy	SELL	4500	43.53
2021-02-01	Patrick A. Sherman	BUY	13	38.44

4. Summary

4.1. Key Performance Indicators

The key performance indicators of First Merchants Corporation compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	-1.179	0.023	-5203%	0.146	-910%	0.499	-336%	0.561	-310%
Book Value Growth	-	-	-0.037	0.003	-1168%	0.004	-977%	0.019	-299%	0.029	-227%
Book Value Per Share	-	-	31.677	31.858	-1%	31.369	+1%	28.403	+12%	20.722	+53%
Book Value Per Share Growth	-	-	-0.037	-0.001	-99%	0.004	-977%	0.018	-308%	0.029	-229%
Current Ratio	-	-	0.147	0.290	-49%	0.842	-83%	0.766	-81%	0.825	-82%
Debt To Asset Ratio	-	-	0.892	0.885	+1%	0.873	+2%	0.868	+3%	0.871	+2%
Debt To Equity Ratio	-	-	8.293	7.730	+7%	6.909	+20%	6.644	+25%	6.814	+22%
Dividend Per Share	-	-	0.244	0.274	-11%	0.252	-3%	0.227	+7%	0.148	+65%
Dividend Per Share Growth	-	-	-0.329	-0.038	-89%	0.026	-1388%	0.019	-1866%	0.039	-937%
Eps	-	-	1.051	0.830	+27%	0.858	+23%	0.719	+46%	0.499	+111%
Eps Growth	-	-	0.391	0.005	+7819%	0.086	+357%	0.029	+1268%	0.033	+1075%
Gross Profit Margin	-	-	0.962	0.968	-1%	0.972	-1%	0.964	0%	0.958	+0%
Net Profit Margin	-	-	0.387	0.364	+7%	0.388	0%	0.356	+9%	0.303	+28%
Operating Margin	-	-	0.588	0.504	+17%	0.530	+11%	0.565	+4%	0.495	+19%
Operating Ratio	-	-	0.015	0.172	-91%	-0.208	+1517%	0.462	-97%	0.666	-98%
Pb Ratio	1.317	+7%	1.221	1.240	-2%	1.336	-9%	1.385	-12%	1.657	-26%
Pe Ratio	39.672	+7%	36.790	48.748	-25%	48.968	-25%	54.920	-33%	73.379	-50%
Peg Ratio	-	-	94.026	572.580	-84%	99.975	-6%	5374.163	-98%	5791.405	-98%
Price Per Share	41.710	+7%	38.680	39.448	-2%	41.855	-8%	38.291	+1%	31.856	+21%
Price To Total Gains Ratio	-44.588	-8%	-41.349	-3.515	-91%	56.612	-173%	54.713	-176%	64.155	-164%
Profit Growth	-	-	38.386	1.245	+2982%	8.553	+349%	3.010	+1175%	3.171	+1111%
Quick Ratio	-	-	0.281	0.253	+11%	0.430	-35%	0.335	-16%	0.306	-8%
Return On Assets	-	-	0.004	0.003	+19%	0.003	+3%	0.003	+7%	0.003	+18%
Return On Equity	-	-	0.033	0.026	+27%	0.027	+21%	0.025	+30%	0.023	+41%
Revenue Growth	-	-	0.039	0.033	+18%	0.026	+50%	0.024	+65%	0.024	+60%
Total Gains Per Share	-	-	-0.935	0.297	-415%	0.398	-335%	0.726	-229%	0.709	-232%
Total Gains Per Share Growth	-	-	-3.798	-0.773	-80%	-1.457	-62%	-1.350	-64%	-0.833	-78%
Usd Book Value	-	-	1906666000.000	1901127750.000	+0%	1855347750.000	+3%	1683304800.000	+13%	1227270225.000	+55%
Usd Book Value Change Per Share	-	-	-1.179	0.023	-5203%	0.146	-910%	0.499	-336%	0.561	-310%
Usd Book Value Per Share	-	-	31.677	31.858	-1%	31.369	+1%	28.403	+12%	20.722	+53%
Usd Dividend Per Share	-	-	0.244	0.274	-11%	0.252	-3%	0.227	+7%	0.148	+65%
Usd Eps	-	-	1.051	0.830	+27%	0.858	+23%	0.719	+46%	0.499	+111%
Usd Price Per Share	41.710	+7%	38.680	39.448	-2%	41.855	-8%	38.291	+1%	31.856	+21%
Usd Profit	-	-	63283000.000	49648250.000	+27%	50733250.000	+25%	42648650.000	+48%	29652425.000	+113%
Usd Revenue	-	-	163338000.000	139234000.000	+17%	130669250.000	+25%	119918100.000	+36%	92866450.000	+76%
Usd Total Gains Per Share	-	-	-0.935	0.297	-415%	0.398	-335%	0.726	-229%	0.709	-232%
	EOD	+1 -4	MRQ	TTM	+18 -18	YOY	+17 -19	5Y	+21 -15	10Y	+22 -14

4.2. Fundamental Score

Let's check the fundamental score of First Merchants Corporation based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	39.672
Price to Book Ratio (EOD)	Between	0-1	1.317
Net Profit Margin (MRQ)	Greater than	0	0.387
Operating Margin (MRQ)	Greater than	0	0.588
Quick Ratio (MRQ)	Greater than	1	0.281
Current Ratio (MRQ)	Greater than	1	0.147
Debt to Asset Ratio (MRQ)	Less than	1	0.892
Debt to Equity Ratio (MRQ)	Less than	1	8.293
Return on Equity (MRQ)	Greater than	0.15	0.033
Return on Assets (MRQ)	Greater than	0.05	0.004
Total			3/10 (30.0%)

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4.3. Technical Score

Let's check the technical score of First Merchants Corporation based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Open	Greater than	Close	41.400
Total			0/1 (0.0%)

Create your own Symbol Scanner

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Latest Balance Sheet

Balance Sheet of 2022-09-30. Currency in USD. All numbers in thousands.

Summary

Total Assets	17,718,985
Total Liabilities	15,812,319
Total Stockholder Equity	1,906,666

	As reported
Total Liabilities	15,812,319
Total Stockholder Equity	+ 1,906,666
Total Assets	= 17,718,985

Assets

Total Assets	17,718,985
Total Current Assets	2,175,109
Long-term Assets	2,175,109

Total Current Assets

Total Current Assets (as reported)	2,175,109
Cash And Cash Equivalents	119,532
Short-term Investments	1,983,972
Net Receivables	71,605
Inventory	6,454
Total Current Assets (calculated)	2,181,563
+/-	6,454

Long-term Assets

Long-term Assets (as reported)	1,009,129
Property Plant Equipment	116,306
Goodwill	712,568
Long Term Investments	4,294,768
Intangible Assets	38,145
Other Assets	14,534,747
Long-term Assets (calculated)	19,696,534
+/-	18,687,405

Liabilities & Shareholders' Equity

Total Current Liabilities	14,819,278
Long-term Liabilities	1,372,523
Total Stockholder Equity	1,906,666

Total Current Liabilities

Total Current Liabilities (as reported)	14,819,278
Accounts payable	14,434,825
Other Current Liabilities	14,434,825
Total Current Liabilities (calculated)	28,869,650
+/-	14,050,372

Long-term Liabilities

Long-term Liabilities (as reported)	1,372,523
Long term Debt Total	1,174,552
Other Liabilities	197,971
Long-term Liabilities (calculated)	1,372,523
+/-	0

Total Stockholder Equity

Total Stockholder Equity (as reported)	1,906,666
Common Stock	7,393
Retained Earnings	961,542
Accumulated Other Comprehensive Income	-314,089
Capital Surplus	1,226,695
Total Stockholder Equity (calculated)	1,881,541
+/-	25,125

Other

Capital Stock	32,518
Cash and Short Term Investments	2,103,504
Common Stock Shares Outstanding	60,191
Common Stock Total Equity	7,393
Liabilities and Stockholders Equity	17,718,985
Net Debt	-119,532
Net Invested Capital	2,676,611
Net Tangible Assets	1,130,828
Preferred Stock Total Equity	25,125

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-11-09

2011-09-30

2011-08-09

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2004-03-31

2003-12-31

2003-09-30

2003-06-30

2003-03-31

2002-12-31

2002-09-30

2002-06-30

2002-03-31

2001-12-31

2001-09-30

2001-06-30

2001-03-31

2000-12-31

2000-09-30

2000-06-30

2000-03-31

1999-12-31

1999-09-30

1999-06-30

1999-03-31

1998-12-31

1998-09-30

1998-06-30

1998-03-31

1997-12-31

1997-09-30

1997-06-30

1997-03-31

1996-12-31

1996-09-30

1996-06-30

1996-03-31

1995-12-31

1995-09-30

1995-06-30

1995-03-31

1994-12-31

1994-09-30

1994-06-30

1994-03-31

1993-12-31

1993-09-30

1993-06-30

1993-03-31

1992-12-31

1992-09-30

1992-06-30

1992-03-31

1991-12-31

1991-09-30

1991-06-30

1991-03-31

1990-12-31

1990-09-30

1990-06-30

1990-03-31

1989-12-31

1989-09-30

1989-03-31

1988-03-31

1987-03-31

> Total Assets

0
0
0
501,300
522,800
520,100
527,900
517,100
541,100
539,500
540,100
591,700
596,600
593,800
611,900
600,500
616,900
610,200
645,800
620,800
626,100
630,500
644,300
624,100
644,600
639,700
697,200
686,300
707,900
681,300
704,200
886,700
968,000
987,800
1,010,400
1,007,700
1,020,100
1,017,800
1,077,500
1,113,900
1,177,200
1,176,800
1,407,800
1,428,800
1,474,000
1,446,178
1,610,413
1,600,938
1,621,063
1,559,238
1,636,270
1,621,063
1,787,035
1,787,035
2,663,984
2,629,486
2,678,687
2,999,022
3,056,961
3,011,720
3,076,812
3,025,141
3,128,290
3,181,362
3,191,668
3,187,586
3,201,298
3,238,438
3,237,079
3,269,935
3,408,263
3,472,039
3,554,870
3,554,814
3,669,515
3,754,300
3,782,087
3,767,158
3,822,460
3,864,074
4,784,155
4,886,897
4,717,045
4,476,484
4,480,952
4,375,866
4,183,248
4,180,320
4,170,848
4,117,175
4,094,218
4,094,218
4,118,509
4,118,509
4,173,076
4,236,366
4,232,423
4,250,168
4,304,821
4,252,830
4,338,264
4,325,911
5,437,262
5,452,936
5,615,120
5,591,383
5,824,127
5,877,521
6,140,308
6,189,797
6,761,003
6,798,539
6,906,418
7,022,352
7,211,611
7,326,193
7,805,029
9,049,403
9,367,478
9,472,796
9,734,715
9,787,282
9,884,716
10,210,925
10,737,857
12,325,061
12,457,254
12,693,518
13,819,378
13,737,350
14,067,210
14,629,066
14,923,097
15,060,725
15,453,149
15,465,258
17,780,492
17,718,985

17,718,985

17,780,492

15,465,258

15,453,149

15,060,725

14,923,097

14,629,066

14,067,210

13,737,350

13,819,378

12,693,518

12,457,254

12,325,061

10,737,857

10,210,925

9,884,716

9,787,282

9,734,715

9,472,796

9,367,478

9,049,403

7,805,029

7,326,193

7,211,611

7,022,352

6,906,418

6,798,539

6,761,003

6,189,797

6,140,308

5,877,521

5,824,127

5,591,383

5,615,120

5,452,936

5,437,262

4,325,911

4,338,264

4,252,830

4,304,821

4,250,168

4,232,423

4,236,366

4,173,076

4,118,509

4,094,218

4,117,175

4,170,848

4,180,320

4,183,248

4,375,866

4,480,952

4,476,484

4,717,045

4,886,897

4,784,155

3,864,074

3,822,460

3,767,158

3,782,087

3,754,300

3,669,515

3,554,814

3,554,870

3,472,039

3,408,263

3,269,935

3,237,079

3,238,438

3,201,298

3,187,586

3,191,668

3,181,362

3,128,290

3,025,141

3,076,812

3,011,720

3,056,961

2,999,022

2,678,687

2,629,486

2,663,984

1,787,035

1,621,063

1,636,270

1,559,238

1,621,063

1,600,938

1,610,413

1,446,178

1,474,000

1,428,800

1,407,800

1,176,800

1,177,200

1,113,900

1,077,500

1,017,800

1,020,100

1,007,700

1,010,400

987,800

968,000

886,700

704,200

681,300

707,900

686,300

697,200

639,700

644,600

624,100

644,300

630,500

626,100

620,800

645,800

610,200

616,900

600,500

611,900

593,800

596,600

591,700

540,100

539,500

541,100

517,100

527,900

520,100

522,800

501,300

> Total Current Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
619,100
633,200
613,000
633,100
627,900
685,400
674,200
695,600
669,200
691,900
871,200
951,000
970,800
993,300
990,700
1,003,100
1,000,600
1,057,400
1,093,100
1,157,100
1,156,700
1,384,800
1,405,900
1,451,000
1,422,806
1,564,712
1,555,910
1,576,140
1,515,198
1,592,678
1,576,140
1,727,174
1,727,174
2,518,070
2,483,554
2,190,763
2,485,243
2,509,882
2,511,745
2,537,653
2,467,328
2,537,699
2,582,361
2,590,595
2,599,663
2,603,574
2,623,574
2,624,563
2,651,081
2,762,830
2,826,788
2,908,622
2,897,506
3,009,052
3,099,166
3,150,619
3,161,521
3,233,674
3,295,163
4,076,556
4,219,062
3,866,101
3,768,975
3,703,291
3,524,822
3,327,286
3,270,514
3,137,582
3,026,410
2,952,184
50,874
2,978,187
60,166
3,025,192
3,074,307
3,086,761
3,120,060
3,228,180
3,180,363
3,226,348
3,209,014
4,064,463
4,025,937
4,124,594
4,126,473
4,347,050
4,392,546
4,622,755
4,678,044
5,126,592
5,169,469
5,252,626
5,366,540
5,553,808
5,649,702
6,059,383
6,999,473
7,234,521
7,359,458
7,547,576
7,596,894
7,688,930
7,788,147
8,086,430
9,142,444
9,169,256
9,304,153
10,341,596
10,116,736
10,236,468
10,247,241
10,097,175
9,938,072
10,252,281
2,368,555
548,535
2,175,109

2,175,109

548,535

2,368,555

10,252,281

9,938,072

10,097,175

10,247,241

10,236,468

10,116,736

10,341,596

9,304,153

9,169,256

9,142,444

8,086,430

7,788,147

7,688,930

7,596,894

7,547,576

7,359,458

7,234,521

6,999,473

6,059,383

5,649,702

5,553,808

5,366,540

5,252,626

5,169,469

5,126,592

4,678,044

4,622,755

4,392,546

4,347,050

4,126,473

4,124,594

4,025,937

4,064,463

3,209,014

3,226,348

3,180,363

3,228,180

3,120,060

3,086,761

3,074,307

3,025,192

60,166

2,978,187

50,874

2,952,184

3,026,410

3,137,582

3,270,514

3,327,286

3,524,822

3,703,291

3,768,975

3,866,101

4,219,062

4,076,556

3,295,163

3,233,674

3,161,521

3,150,619

3,099,166

3,009,052

2,897,506

2,908,622

2,826,788

2,762,830

2,651,081

2,624,563

2,623,574

2,603,574

2,599,663

2,590,595

2,582,361

2,537,699

2,467,328

2,537,653

2,511,745

2,509,882

2,485,243

2,190,763

2,483,554

2,518,070

1,727,174

1,576,140

1,592,678

1,515,198

1,576,140

1,555,910

1,564,712

1,422,806

1,451,000

1,405,900

1,384,800

1,156,700

1,157,100

1,093,100

1,057,400

1,000,600

1,003,100

990,700

993,300

970,800

951,000

871,200

691,900

669,200

695,600

674,200

685,400

627,900

633,100

613,000

633,200

619,100

Cash And Cash Equivalents

0
0
0
32,400
62,900
33,200
47,700
42,900
43,800
20,000
24,000
37,700
48,800
29,700
42,100
28,300
55,200
35,200
55,100
26,400
26,900
28,600
33,900
23,100
46,400
29,900
66,500
46,900
69,100
34,600
46,200
44,100
35,300
37,000
36,600
31,200
42,600
41,200
72,800
34,500
72,100
35,300
36,700
39,200
60,600
37,900
47,929
44,724
53,446
23,826
63,303
53,446
72,614
72,614
107,997
83,445
91,206
86,959
97,903
91,408
85,253
71,040
92,856
85,571
79,303
78,641
80,753
92,018
79,165
68,280
79,804
74,358
101,241
50,414
89,819
107,940
159,614
111,241
88,263
85,469
123,072
254,901
118,263
111,199
150,826
210,414
101,046
169,137
116,060
106,126
66,739
50,874
76,281
60,166
126,163
95,281
110,253
92,351
139,903
111,999
129,302
111,216
164,503
149,998
143,747
98,408
166,136
172,471
132,597
111,788
134,485
163,191
183,004
133,405
152,386
124,686
190,955
219,557
189,932
153,061
170,492
209,264
176,210
186,550
257,799
432,484
295,464
260,675
609,780
438,568
585,201
580,707
606,459
538,708
641,300
148,277
349,261
119,532

119,532

349,261

148,277

641,300

538,708

606,459

580,707

585,201

438,568

609,780

260,675

295,464

432,484

257,799

186,550

176,210

209,264

170,492

153,061

189,932

219,557

190,955

124,686

152,386

133,405

183,004

163,191

134,485

111,788

132,597

172,471

166,136

98,408

143,747

149,998

164,503

111,216

129,302

111,999

139,903

92,351

110,253

95,281

126,163

60,166

76,281

50,874

66,739

106,126

116,060

169,137

101,046

210,414

150,826

111,199

118,263

254,901

123,072

85,469

88,263

111,241

159,614

107,940

89,819

50,414

101,241

74,358

79,804

68,280

79,165

92,018

80,753

78,641

79,303

85,571

92,856

71,040

85,253

91,408

97,903

86,959

91,206

83,445

107,997

72,614

53,446

63,303

23,826

53,446

44,724

47,929

37,900

60,600

39,200

36,700

35,300

72,100

34,500

72,800

41,200

42,600

31,200

36,600

37,000

35,300

44,100

46,200

34,600

69,100

46,900

66,500

29,900

46,400

23,100

33,900

28,600

26,900

26,400

55,100

35,200

55,200

28,300

42,100

29,700

48,800

37,700

24,000

20,000

43,800

42,900

47,700

33,200

62,900

32,400

Short-term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
15,783
0
0
0
38,156
0
0
0
34,968
0
0
0
40,556
0
0
0
9,343
0
0
0
8,748
0
0
0
11,284
0
0
0
24,931
0
0
0
105,060
0
0
0
176,371
0
0
0
72,679
0
591,212
496,608
496,608
518,491
518,491
547,308
547,551
551,619
513,343
532,867
584,593
606,341
536,201
605,507
615,184
567,996
549,543
538,055
575,415
597,839
658,400
636,785
658,829
675,813
696,862
730,788
742,759
890,721
999,947
1,003,799
1,096,837
1,149,162
1,142,195
1,247,632
1,399,959
1,646,399
1,790,025
1,815,775
1,890,593
1,824,160
1,919,119
2,405,568
2,426,900
2,374,578
1,900,787
2,164,197
2,296,351
1,983,972

1,983,972

2,296,351

2,164,197

1,900,787

2,374,578

2,426,900

2,405,568

1,919,119

1,824,160

1,890,593

1,815,775

1,790,025

1,646,399

1,399,959

1,247,632

1,142,195

1,149,162

1,096,837

1,003,799

999,947

890,721

742,759

730,788

696,862

675,813

658,829

636,785

658,400

597,839

575,415

538,055

549,543

567,996

615,184

605,507

536,201

606,341

584,593

532,867

513,343

551,619

547,551

547,308

518,491

496,608

591,212

72,679

176,371

105,060

24,931

11,284

8,748

9,343

40,556

34,968

38,156

15,783

Net Receivables

0
0
0
6,500
6,600
6,500
6,900
7,000
6,600
6,900
7,100
7,800
7,000
6,400
6,800
6,600
5,900
5,600
6,200
6,200
5,700
5,300
6,000
5,800
5,600
5,500
6,100
6,400
6,200
5,900
6,300
7,800
8,600
8,300
9,000
9,100
9,000
8,200
8,700
9,400
9,200
8,900
11,100
11,700
11,300
10,843
12,753
13,353
13,135
11,952
11,737
13,135
12,024
12,024
17,701
18,622
17,346
16,789
16,592
17,139
16,840
15,061
14,943
17,594
173
16,606
16,950
19,561
19,690
19,035
19,539
23,946
24,345
21,941
21,615
25,954
23,402
21,212
19,680
21,569
23,976
20,783
20,778
22,359
20,818
19,532
18,894
20,310
18,674
17,583
17,001
17,770
17,770
17,723
17,723
16,730
16,506
17,519
18,957
17,359
17,014
17,986
20,217
19,379
19,572
20,663
21,090
20,410
20,622
22,662
25,003
23,297
23,739
24,032
26,505
25,435
27,829
36,243
39,657
37,416
40,475
40,361
42,481
40,931
45,150
45,923
48,901
47,489
57,063
52,992
53,948
54,662
54,173
53,079
57,187
56,081
68,728
71,605

71,605

68,728

56,081

57,187

53,079

54,173

54,662

53,948

52,992

57,063

47,489

48,901

45,923

45,150

40,931

42,481

40,361

40,475

37,416

39,657

36,243

27,829

25,435

26,505

24,032

23,739

23,297

25,003

22,662

20,622

20,410

21,090

20,663

19,572

19,379

20,217

17,986

17,014

17,359

18,957

17,519

16,506

16,730

17,723

17,770

17,001

17,583

18,674

20,310

18,894

19,532

20,818

22,359

20,778

20,783

23,976

21,569

19,680

21,212

23,402

25,954

21,615

21,941

24,345

23,946

19,539

19,035

19,690

19,561

16,950

16,606

173

17,594

14,943

15,061

16,840

17,139

16,592

16,789

17,346

18,622

17,701

12,024

13,135

11,737

11,952

13,135

13,353

12,753

10,843

11,300

11,700

11,100

8,900

9,200

9,400

8,700

8,200

9,000

9,100

9,000

8,300

8,600

7,800

6,300

5,900

6,200

6,400

6,100

5,500

5,600

5,800

6,000

5,300

5,700

6,200

5,600

5,900

6,600

6,800

6,400

7,000

7,800

7,100

6,900

6,600

7,000

6,900

6,500

6,600

6,500

Other Current Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
585,200
593,300
584,100
581,100
592,500
612,800
620,900
620,300
628,700
639,400
819,300
907,100
925,500
947,700
950,400
951,500
951,200
975,900
1,049,200
1,075,800
1,112,500
1,337,000
1,355,000
1,379,100
1,374,063
1,504,030
1,497,833
0
1,479,420
1,517,638
1,509,559
0
1,642,536
2,392,372
2,381,487
2,082,211
2,381,495
2,395,387
2,403,198
2,435,560
2,381,227
2,429,900
2,479,196
2,511,119
2,504,416
2,505,871
2,511,995
2,525,708
2,563,766
2,663,487
2,728,484
2,783,036
2,825,151
2,897,618
2,965,272
2,967,603
3,029,068
3,125,731
3,188,125
3,929,508
3,943,378
3,727,060
3,635,417
3,531,647
3,294,876
3,207,346
3,081,067
3,002,848
2,902,701
2,868,444
0
2,884,136
0
2,881,306
2,962,296
2,960,002
3,010,190
2,555,977
2,518,138
2,495,439
2,473,471
3,343,542
3,251,053
3,346,091
3,439,406
3,610,281
3,661,610
3,894,121
3,945,755
4,308,704
4,346,196
4,387,054
4,533,290
4,678,055
4,768,793
5,097,840
5,852,952
6,004,985
6,165,182
6,239,772
6,198,107
6,328,044
6,313,034
6,383,522
7,017,638
7,034,866
7,180,214
7,784,160
7,801,016
7,678,200
7,206,304
7,009,643
6,971,707
9,553,794
60,019
77,788
96,999

96,999

77,788

60,019

9,553,794

6,971,707

7,009,643

7,206,304

7,678,200

7,801,016

7,784,160

7,180,214

7,034,866

7,017,638

6,383,522

6,313,034

6,328,044

6,198,107

6,239,772

6,165,182

6,004,985

5,852,952

5,097,840

4,768,793

4,678,055

4,533,290

4,387,054

4,346,196

4,308,704

3,945,755

3,894,121

3,661,610

3,610,281

3,439,406

3,346,091

3,251,053

3,343,542

2,473,471

2,495,439

2,518,138

2,555,977

3,010,190

2,960,002

2,962,296

2,881,306

2,884,136

2,868,444

2,902,701

3,002,848

3,081,067

3,207,346

3,294,876

3,531,647

3,635,417

3,727,060

3,943,378

3,929,508

3,188,125

3,125,731

3,029,068

2,967,603

2,965,272

2,897,618

2,825,151

2,783,036

2,728,484

2,663,487

2,563,766

2,525,708

2,511,995

2,505,871

2,504,416

2,511,119

2,479,196

2,429,900

2,381,227

2,435,560

2,403,198

2,395,387

2,381,495

2,082,211

2,381,487

2,392,372

1,642,536

1,509,559

1,517,638

1,479,420

1,497,833

1,504,030

1,374,063

1,379,100

1,355,000

1,337,000

1,112,500

1,075,800

1,049,200

975,900

951,200

951,500

950,400

947,700

925,500

907,100

819,300

639,400

628,700

620,300

620,900

612,800

592,500

581,100

584,100

593,300

585,200

> Long-term Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,400
11,100
11,100
11,500
11,800
11,800
12,100
12,300
12,100
12,300
15,500
17,000
17,000
17,100
17,000
17,000
17,200
20,100
20,800
20,100
20,100
23,000
22,900
23,000
23,372
45,701
45,028
0
44,040
43,592
44,923
0
59,861
145,914
145,932
487,924
513,779
547,079
499,975
539,159
557,813
590,591
599,001
601,073
587,923
597,724
614,864
612,516
618,854
645,433
645,251
646,248
657,308
660,463
655,134
631,468
605,637
588,786
568,911
707,599
667,835
850,944
707,509
777,661
851,044
855,962
909,806
1,033,266
1,090,765
1,142,034
35,804
1,140,322
36,424
1,147,884
1,162,059
1,145,662
1,130,108
1,076,641
1,072,467
1,111,916
1,116,897
1,372,799
1,426,999
1,490,526
1,464,910
1,477,077
1,484,975
1,517,553
1,511,753
1,634,411
1,629,070
1,653,792
1,655,812
1,657,803
1,676,491
1,745,646
2,049,930
2,132,957
2,113,338
2,187,139
2,190,388
2,195,786
2,422,778
2,651,427
3,182,617
3,287,998
3,389,365
3,477,782
3,620,614
3,830,742
4,381,825
4,825,922
5,122,653
5,200,868
748,799
5,501,436
1,009,129

1,009,129

5,501,436

748,799

5,200,868

5,122,653

4,825,922

4,381,825

3,830,742

3,620,614

3,477,782

3,389,365

3,287,998

3,182,617

2,651,427

2,422,778

2,195,786

2,190,388

2,187,139

2,113,338

2,132,957

2,049,930

1,745,646

1,676,491

1,657,803

1,655,812

1,653,792

1,629,070

1,634,411

1,511,753

1,517,553

1,484,975

1,477,077

1,464,910

1,490,526

1,426,999

1,372,799

1,116,897

1,111,916

1,072,467

1,076,641

1,130,108

1,145,662

1,162,059

1,147,884

36,424

1,140,322

35,804

1,142,034

1,090,765

1,033,266

909,806

855,962

851,044

777,661

707,509

850,944

667,835

707,599

568,911

588,786

605,637

631,468

655,134

660,463

657,308

646,248

645,251

645,433

618,854

612,516

614,864

597,724

587,923

601,073

599,001

590,591

557,813

539,159

499,975

547,079

513,779

487,924

145,932

145,914

59,861

44,923

43,592

44,040

45,028

45,701

23,372

23,000

22,900

23,000

20,100

20,800

20,100

17,200

17,000

17,100

17,000

15,500

12,300

12,100

12,300

12,100

11,800

11,500

11,100

11,400

Property Plant Equipment

0
0
0
6,100
6,000
5,900
5,800
5,800
5,900
5,900
6,000
6,900
7,000
7,100
7,100
7,300
7,600
7,800
8,200
9,100
9,400
9,300
9,100
9,100
9,500
9,900
9,900
10,200
10,500
10,300
10,500
13,800
15,300
15,300
15,500
15,300
15,400
15,600
17,100
17,800
17,000
17,100
20,000
20,000
20,100
20,552
24,143
23,810
23,868
23,466
23,062
23,868
27,684
27,684
39,292
39,179
38,645
38,861
39,313
39,475
39,639
38,972
38,437
38,170
38,254
37,525
37,240
38,473
39,417
39,029
41,122
40,511
42,393
43,262
44,126
44,255
44,445
44,526
44,232
44,402
59,641
58,948
58,692
58,482
55,804
54,431
53,437
52,774
52,450
51,818
51,851
70,857
51,432
67,302
51,013
51,541
51,335
51,373
52,749
53,762
54,165
54,386
74,454
74,847
74,856
74,105
77,691
77,468
84,841
83,457
97,648
96,494
95,170
95,540
94,432
91,311
92,637
102,485
95,852
94,741
94,397
93,728
93,420
91,863
91,767
113,446
113,055
114,045
112,548
112,959
111,062
109,432
103,822
104,814
105,655
105,883
117,757
116,306

116,306

117,757

105,883

105,655

104,814

103,822

109,432

111,062

112,959

112,548

114,045

113,055

113,446

91,767

91,863

93,420

93,728

94,397

94,741

95,852

102,485

92,637

91,311

94,432

95,540

95,170

96,494

97,648

83,457

84,841

77,468

77,691

74,105

74,856

74,847

74,454

54,386

54,165

53,762

52,749

51,373

51,335

51,541

51,013

67,302

51,432

70,857

51,851

51,818

52,450

52,774

53,437

54,431

55,804

58,482

58,692

58,948

59,641

44,402

44,232

44,526

44,445

44,255

44,126

43,262

42,393

40,511

41,122

39,029

39,417

38,473

37,240

37,525

38,254

38,170

38,437

38,972

39,639

39,475

39,313

38,861

38,645

39,179

39,292

27,684

23,868

23,062

23,466

23,868

23,810

24,143

20,552

20,100

20,000

17,100

17,000

17,800

17,100

15,600

15,400

15,300

15,500

15,300

13,800

10,500

10,300

10,500

10,200

9,900

9,500

9,100

9,300

9,400

9,100

8,200

7,800

7,600

7,300

7,100

7,000

6,900

6,000

5,900

5,800

5,900

6,000

6,100

Goodwill

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,100
2,000
2,000
2,000
1,900
1,900
1,900
1,800
1,800
1,800
1,700
1,700
1,700
1,600
1,700
1,600
1,600
3,000
3,000
3,100
3,000
3,000
2,900
2,900
2,820
21,558
21,218
21,055
20,574
20,530
32,795
32,177
33,551
106,622
106,753
107,217
141,226
144,663
143,648
142,723
141,867
141,014
140,186
141,284
140,578
139,799
139,597
138,833
138,174
137,429
136,666
138,638
137,847
137,056
136,266
135,856
135,056
136,230
135,701
165,974
141,357
141,357
141,357
141,357
141,357
141,357
141,357
141,357
141,357
141,357
141,357
141,357
141,357
141,357
141,357
141,357
141,375
141,375
141,375
141,375
141,375
188,948
188,948
188,948
188,948
202,724
202,724
205,376
205,376
243,129
244,000
244,000
244,000
244,000
244,000
292,188
445,355
445,355
445,355
445,355
445,355
445,355
445,355
445,355
543,199
543,918
543,918
543,918
543,918
543,918
543,918
545,385
545,385
448
545,385
713,201
712,568

712,568

713,201

545,385

448

545,385

543,918

543,199

445,355

292,188

244,000

243,129

205,376

202,724

188,948

141,375

141,357

165,974

135,701

136,230

135,056

135,856

136,266

137,056

137,847

138,638

136,666

137,429

138,174

138,833

139,597

139,799

140,578

141,284

140,186

141,014

141,867

142,723

143,648

144,663

141,226

107,217

106,753

106,622

33,551

32,177

32,795

20,530

20,574

21,055

21,218

21,558

2,820

2,900

3,000

3,100

3,000

1,600

1,700

1,600

1,700

1,800

1,900

2,000

2,100

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,015,890
3,093,341
3,093,341
3,088,290
3,088,290
3,157,482
3,139,539
3,171,639
3,216,163
3,174,256
3,190,808
3,172,339
4,129,248
4,098,100
4,260,639
4,335,112
4,499,224
4,560,541
4,821,051
4,871,751
5,259,862
5,285,441
5,387,069
5,536,485
5,684,180
5,804,375
6,147,273
6,992,774
7,244,038
7,369,766
7,528,408
8,637,938
1,657,170
9,084,407
9,528,874
10,716,019
10,984,126
11,210,388
11,967,702
12,053,576
12,263,279
2,409,998
4,148,314
4,445,516
4,524,353
4,489,263
4,630,030
4,294,768

4,294,768

4,630,030

4,489,263

4,524,353

4,445,516

4,148,314

2,409,998

12,263,279

12,053,576

11,967,702

11,210,388

10,984,126

10,716,019

9,528,874

9,084,407

1,657,170

8,637,938

7,528,408

7,369,766

7,244,038

6,992,774

6,147,273

5,804,375

5,684,180

5,536,485

5,387,069

5,285,441

5,259,862

4,871,751

4,821,051

4,560,541

4,499,224

4,335,112

4,260,639

4,098,100

4,129,248

3,172,339

3,190,808

3,174,256

3,216,163

3,171,639

3,139,539

3,157,482

3,088,290

3,093,341

3,015,890

Intangible Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,820
21,558
21,218
21,055
20,574
20,530
32,795
32,177
33,551
106,622
106,753
107,217
141,226
144,663
143,648
142,723
141,867
141,014
140,186
141,284
140,578
139,799
139,597
138,833
138,174
137,429
136,666
138,638
137,847
137,056
136,266
135,856
135,056
136,230
135,701
165,974
21,214
19,937
18,660
17,383
16,175
14,983
13,823
12,662
11,561
10,460
10,460
9,705
9,705
9,114
9,129
8,649
8,644
8,154
7,767
7,384
7,001
13,818
13,227
12,635
12,043
16,031
15,310
14,820
14,127
16,635
17,799
16,821
15,844
14,866
13,963
17,498
33,203
31,148
29,422
27,704
26,054
24,429
22,901
21,381
36,552
34,962
33,448
31,937
30,451
28,975
27,618
28,401
26,938
25,475
24,109
40,448
38,145

38,145

40,448

24,109

25,475

26,938

28,401

27,618

28,975

30,451

31,937

33,448

34,962

36,552

21,381

22,901

24,429

26,054

27,704

29,422

31,148

33,203

17,498

13,963

14,866

15,844

16,821

17,799

16,635

14,127

14,820

15,310

16,031

12,043

12,635

13,227

13,818

7,001

7,384

7,767

8,154

8,644

8,649

9,129

9,114

9,705

10,460

11,561

12,662

13,823

14,983

16,175

17,383

18,660

19,937

21,214

165,974

135,701

136,230

135,056

135,856

136,266

137,056

137,847

138,638

136,666

137,429

138,174

138,833

139,597

139,799

140,578

141,284

140,186

141,014

141,867

142,723

143,648

144,663

141,226

107,217

106,753

106,622

33,551

32,177

32,795

20,530

20,574

21,055

21,218

21,558

2,820

Earning Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,961,284
2,252,980
2,794,066
2,779,954
2,943,435
3,199,037
0
0
0
0
0
0
0
0
0

3,199,037

2,943,435

2,779,954

2,794,066

2,252,980

1,961,284

Other Assets

0
0
0
501,300
522,800
520,100
527,900
517,100
541,100
539,500
540,100
591,700
596,600
593,800
611,900
600,500
616,900
610,200
645,800
620,800
626,100
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
352,600
387,958
378,456
365,717
336,375
318,230
319,133
307,700
289,329
519,796
511,264
3,166,611
3,512,801
3,604,040
3,511,695
3,615,971
3,582,954
3,718,881
3,780,363
3,792,741
3,775,509
3,799,022
3,853,302
3,849,595
3,888,789
4,053,696
4,117,290
4,201,118
4,212,122
4,329,978
4,409,434
4,413,555
4,372,795
4,411,246
4,432,985
5,491,754
5,554,732
5,567,989
5,183,993
5,258,613
5,226,910
5,039,210
5,090,126
5,204,114
5,207,940
5,236,252
0
5,258,831
0
5,320,960
5,398,425
5,378,085
5,380,276
5,381,462
5,325,297
5,450,180
5,442,808
6,810,061
6,879,935
7,105,646
7,056,293
7,301,204
7,362,496
7,657,861
7,701,550
8,395,414
8,427,609
8,560,210
8,678,164
8,869,414
9,002,684
9,550,675
11,099,333
11,500,435
11,586,134
11,921,854
11,977,670
12,080,502
12,633,703
13,389,284
15,507,678
15,745,252
16,082,883
17,297,160
17,357,964
17,897,952
19,010,891
19,749,019
20,183,378
10,252,281
12,347,904
12,279,056
14,534,747

14,534,747

12,279,056

12,347,904

10,252,281

20,183,378

19,749,019

19,010,891

17,897,952

17,357,964

17,297,160

16,082,883

15,745,252

15,507,678

13,389,284

12,633,703

12,080,502

11,977,670

11,921,854

11,586,134

11,500,435

11,099,333

9,550,675

9,002,684

8,869,414

8,678,164

8,560,210

8,427,609

8,395,414

7,701,550

7,657,861

7,362,496

7,301,204

7,056,293

7,105,646

6,879,935

6,810,061

5,442,808

5,450,180

5,325,297

5,381,462

5,380,276

5,378,085

5,398,425

5,320,960

5,258,831

5,236,252

5,207,940

5,204,114

5,090,126

5,039,210

5,226,910

5,258,613

5,183,993

5,567,989

5,554,732

5,491,754

4,432,985

4,411,246

4,372,795

4,413,555

4,409,434

4,329,978

4,212,122

4,201,118

4,117,290

4,053,696

3,888,789

3,849,595

3,853,302

3,799,022

3,775,509

3,792,741

3,780,363

3,718,881

3,582,954

3,615,971

3,511,695

3,604,040

3,512,801

3,166,611

511,264

519,796

289,329

307,700

319,133

318,230

336,375

365,717

378,456

387,958

352,600

626,100

620,800

645,800

610,200

616,900

600,500

611,900

593,800

596,600

591,700

540,100

539,500

541,100

517,100

527,900

520,100

522,800

501,300

> Total Liabilities

0
0
0
454,000
474,600
470,900
477,700
466,500
489,800
487,500
487,000
534,200
538,100
533,900
550,600
537,800
553,000
544,600
578,500
552,000
557,300
561,000
574,400
552,800
573,600
566,000
620,600
608,100
627,400
600,000
621,700
786,100
855,300
874,000
893,500
888,000
898,100
893,700
951,300
984,100
1,045,700
1,044,200
1,252,400
1,272,000
1,347,700
1,321,390
1,463,200
1,448,068
1,465,000
1,400,138
1,477,005
1,465,000
1,607,907
1,607,907
2,412,554
2,369,613
2,417,558
2,709,398
2,755,951
2,710,519
2,772,847
2,715,994
2,824,022
2,867,700
2,877,065
2,876,988
2,887,940
2,920,048
2,923,683
2,953,197
3,095,259
3,149,748
3,227,545
3,226,166
3,342,135
3,421,559
3,442,151
3,418,317
3,475,068
3,511,981
4,388,252
4,378,792
4,243,667
4,000,584
4,017,167
3,886,925
3,725,719
3,717,855
3,716,440
3,654,653
3,625,740
3,625,740
3,605,964
3,605,964
3,658,609
3,708,425
3,696,747
3,703,313
3,752,585
3,714,272
3,798,971
3,812,442
4,802,339
4,800,825
4,944,524
4,906,830
5,097,300
5,137,863
5,390,353
5,422,813
5,910,494
5,931,276
6,018,868
6,121,487
6,309,954
6,396,723
6,769,913
7,766,283
8,064,015
8,159,723
8,394,387
8,425,856
8,476,456
8,755,077
9,236,221
10,576,049
10,670,817
10,915,558
12,010,283
11,903,694
12,191,565
12,823,210
13,051,297
13,192,635
13,540,578
13,657,625
15,802,851
15,812,319

15,812,319

15,802,851

13,657,625

13,540,578

13,192,635

13,051,297

12,823,210

12,191,565

11,903,694

12,010,283

10,915,558

10,670,817

10,576,049

9,236,221

8,755,077

8,476,456

8,425,856

8,394,387

8,159,723

8,064,015

7,766,283

6,769,913

6,396,723

6,309,954

6,121,487

6,018,868

5,931,276

5,910,494

5,422,813

5,390,353

5,137,863

5,097,300

4,906,830

4,944,524

4,800,825

4,802,339

3,812,442

3,798,971

3,714,272

3,752,585

3,703,313

3,696,747

3,708,425

3,658,609

3,605,964

3,625,740

3,654,653

3,716,440

3,717,855

3,725,719

3,886,925

4,017,167

4,000,584

4,243,667

4,378,792

4,388,252

3,511,981

3,475,068

3,418,317

3,442,151

3,421,559

3,342,135

3,226,166

3,227,545

3,149,748

3,095,259

2,953,197

2,923,683

2,920,048

2,887,940

2,876,988

2,877,065

2,867,700

2,824,022

2,715,994

2,772,847

2,710,519

2,755,951

2,709,398

2,417,558

2,369,613

2,412,554

1,607,907

1,465,000

1,477,005

1,400,138

1,465,000

1,448,068

1,463,200

1,321,390

1,347,700

1,272,000

1,252,400

1,044,200

1,045,700

984,100

951,300

893,700

898,100

888,000

893,500

874,000

855,300

786,100

621,700

600,000

627,400

608,100

620,600

566,000

573,600

552,800

574,400

561,000

557,300

552,000

578,500

544,600

553,000

537,800

550,600

533,900

538,100

534,200

487,000

487,500

489,800

466,500

477,700

470,900

474,600

454,000

> Total Current Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
62,000
53,600
43,700
40,500
38,400
54,600
68,100
35,000
37,600
41,600
91,000
54,200
84,100
65,800
72,800
26,800
25,100
39,900
11,300
0
0
86,900
0
0
0
0
0
0
0
0
0
0
0
0
0
87,607
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,129,000
0
3,240,000
3,311,000
3,326,000
3,302,000
3,359,000
3,336,000
4,252,000
4,174,000
4,049,000
3,806,000
3,822,000
3,692,000
3,500,000
3,490,000
3,490,000
3,429,000
3,399,000
3,575,204
3,411,000
3,626,954
3,464,000
3,592,000
3,581,000
3,591,000
3,641,000
3,602,000
3,687,000
3,700,000
4,675,000
4,674,000
4,818,000
4,780,000
4,970,000
5,011,000
5,263,000
5,301,000
5,782,000
5,803,000
5,891,000
5,993,000
6,182,000
6,268,000
6,641,000
7,626,000
7,925,000
8,022,000
8,256,000
8,288,000
8,337,993
8,616,558
9,097,647
10,437,419
10,532,132
10,786,817
11,725,086
10,911,191
11,364,897
11,955,800
12,353,233
12,536,014
12,916,916
13,079,239
14,860,315
14,819,278

14,819,278

14,860,315

13,079,239

12,916,916

12,536,014

12,353,233

11,955,800

11,364,897

10,911,191

11,725,086

10,786,817

10,532,132

10,437,419

9,097,647

8,616,558

8,337,993

8,288,000

8,256,000

8,022,000

7,925,000

7,626,000

6,641,000

6,268,000

6,182,000

5,993,000

5,891,000

5,803,000

5,782,000

5,301,000

5,263,000

5,011,000

4,970,000

4,780,000

4,818,000

4,674,000

4,675,000

3,700,000

3,687,000

3,602,000

3,641,000

3,591,000

3,581,000

3,592,000

3,464,000

3,626,954

3,411,000

3,575,204

3,399,000

3,429,000

3,490,000

3,500,000

3,692,000

3,822,000

3,806,000

4,049,000

4,174,000

4,252,000

3,336,000

3,359,000

3,302,000

3,326,000

3,311,000

3,240,000

3,129,000

87,607

86,900

11,300

39,900

25,100

26,800

72,800

65,800

84,100

54,200

91,000

41,600

37,600

35,000

68,100

54,600

38,400

40,500

43,700

53,600

62,000

Short-term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
60,800
52,400
42,500
39,200
36,900
52,900
66,200
35,000
37,600
41,600
91,000
54,200
84,100
65,800
72,800
26,800
25,100
36,200
7,400
0
0
82,500
0
0
0
0
0
0
0
0
0
0
0
0
0
81,588
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
447,844
508,768
508,768
489,374
489,374
397,709
373,577
468,114
367,089
366,760
423,385
524,014
523,264
483,797
580,776
561,617
411,994
427,224
552,557
566,510
568,544
541,847
557,034
622,339
694,197
708,788
703,949
788,613
834,387
776,626
839,126
732,690
670,961
615,315
793,290
684,842
229,316
0
0
0
81,588
81,588
0
0
0
0
0
0

81,588

229,316

684,842

793,290

615,315

670,961

732,690

839,126

776,626

834,387

788,613

703,949

708,788

694,197

622,339

557,034

541,847

568,544

566,510

552,557

427,224

411,994

561,617

580,776

483,797

523,264

524,014

423,385

366,760

367,089

468,114

373,577

397,709

489,374

508,768

447,844

81,588

82,500

7,400

36,200

25,100

26,800

72,800

65,800

84,100

54,200

91,000

41,600

37,600

35,000

66,200

52,900

36,900

39,200

42,500

52,400

60,800

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
124,539
0
0
0
246,766
414,324
429,356
494,051
313,548
579,926
712,183
219,550
308,014
265,343
268,788
181,296
227,225
225,523
248,443
204,110
229,316
0
0
0
0
0
0
0
0
0
0
0

229,316

204,110

248,443

225,523

227,225

181,296

268,788

265,343

308,014

219,550

712,183

579,926

313,548

494,051

429,356

414,324

246,766

124,539

Accounts payable

0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,800
0
1,500
1,500
1,400
1,300
1,200
1,200
1,200
1,200
1,300
1,500
1,700
1,900
0
0
0
0
0
0
0
0
0
0
3,700
3,900
3,600
3,600
4,400
4,100
4,600
5,114
5,388
6,062
1,288,299
6,568
6,304
6,335
1,421,251
5,488
7,248
6,813
6,019
5,694
5,494
5,200
4,680
4,542
4,216
5,706
4,411
5,296
5,068
5,643
5,874
6,412
6,927
10,236
9,326
10,834
10,417
9,170
8,325
7,621
6,658
6,529
8,844
8,278
7,351
5,722
5,711
4,812
4,911
4,011
4,262
3,117
3,601
2,186
2,186
2,925
2,925
2,094
2,168
1,591
1,841
1,348
1,150
1,155
1,771
3,192
2,489
3,819
3,201
3,685
3,211
3,710
3,092
3,910
3,051
3,733
3,110
3,875
3,477
4,956
4,390
5,376
4,807
5,920
5,607
7,313
6,740
7,855
6,754
7,746
5,587
5,038
3,287
4,020
2,929
3,736
2,762
12,905,953
2,978
14,434,825

14,434,825

2,978

12,905,953

2,762

3,736

2,929

4,020

3,287

5,038

5,587

7,746

6,754

7,855

6,740

7,313

5,607

5,920

4,807

5,376

4,390

4,956

3,477

3,875

3,110

3,733

3,051

3,910

3,092

3,710

3,211

3,685

3,201

3,819

2,489

3,192

1,771

1,155

1,150

1,348

1,841

1,591

2,168

2,094

2,925

2,186

3,601

3,117

4,262

4,011

4,911

4,812

5,711

5,722

7,351

8,278

8,844

6,529

6,658

7,621

8,325

9,170

10,417

10,834

9,326

10,236

6,927

6,412

5,874

5,643

5,068

5,296

4,411

5,706

4,216

4,542

4,680

5,200

5,494

5,694

6,019

6,813

7,248

5,488

1,421,251

6,335

6,304

6,568

1,288,299

6,062

5,388

5,114

4,600

4,100

4,400

3,600

3,900

3,700

1,900

1,700

1,500

1,300

1,200

1,300

1,400

1,500

1,800

Other Current Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,142,533
3,064,250
3,064,250
3,134,655
3,134,655
3,279,578
3,288,898
3,194,751
3,346,383
3,310,808
3,332,793
3,255,846
4,231,468
4,283,179
4,329,610
4,310,123
4,640,694
4,648,075
4,789,577
4,814,589
5,289,647
5,311,070
5,407,554
5,444,240
5,556,498
5,635,309
6,017,104
6,911,019
7,172,530
7,327,635
7,503,815
7,633,152
7,754,593
8,047,798
8,319,328
9,765,451
9,894,956
9,870,484
10,965,988
10,906,153
11,361,610
11,951,780
12,203,400
12,348,689
12,732,577
12,905,953
14,570,869
14,434,825

14,434,825

14,570,869

12,905,953

12,732,577

12,348,689

12,203,400

11,951,780

11,361,610

10,906,153

10,965,988

9,870,484

9,894,956

9,765,451

8,319,328

8,047,798

7,754,593

7,633,152

7,503,815

7,327,635

7,172,530

6,911,019

6,017,104

5,635,309

5,556,498

5,444,240

5,407,554

5,311,070

5,289,647

4,814,589

4,789,577

4,648,075

4,640,694

4,310,123

4,329,610

4,283,179

4,231,468

3,255,846

3,332,793

3,310,808

3,346,383

3,194,751

3,288,898

3,279,578

3,134,655

3,064,250

3,142,533

> Long-term Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
18,700
20,700
24,700
24,700
29,700
111,400
154,800
68,700
63,500
189,900
166,312
207,617
195,652
0
154,864
174,432
163,581
0
174,404
337,525
328,933
275,339
388,821
417,669
374,051
383,170
372,356
422,885
379,922
440,891
391,193
454,400
423,959
508,236
469,002
527,347
419,146
341,864
346,465
370,886
420,926
568,774
360,294
586,250
571,308
496,043
483,362
463,721
324,811
324,539
318,055
326,407
320,142
309,124
331,097
300,630
30,760
363,725
31,655
333,069
386,773
212,798
257,636
206,399
204,947
204,521
284,141
248,947
298,059
347,639
382,297
272,074
293,201
374,569
359,792
363,498
391,111
396,257
425,310
427,368
467,781
441,457
546,506
553,726
587,716
607,613
523,866
453,449
483,532
598,616
493,239
489,757
609,736
686,014
517,842
507,810
477,776
452,741
452,707
452,673
748,083
750,164
1,372,523

1,372,523

750,164

748,083

452,673

452,707

452,741

477,776

507,810

517,842

686,014

609,736

489,757

493,239

598,616

483,532

453,449

523,866

607,613

587,716

553,726

546,506

441,457

467,781

427,368

425,310

396,257

391,111

363,498

359,792

374,569

293,201

272,074

382,297

347,639

298,059

248,947

284,141

204,521

204,947

206,399

257,636

212,798

386,773

333,069

31,655

363,725

30,760

300,630

331,097

309,124

320,142

326,407

318,055

324,539

324,811

463,721

483,362

496,043

571,308

586,250

360,294

568,774

420,926

370,886

346,465

341,864

419,146

527,347

469,002

508,236

423,959

454,400

391,193

440,891

379,922

422,885

372,356

383,170

374,051

417,669

388,821

275,339

328,933

337,525

174,404

163,581

174,432

154,864

195,652

207,617

166,312

189,900

63,500

68,700

154,800

111,400

29,700

24,700

20,700

18,700

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
138,463
138,519
138,574
138,630
138,685
840,053
867,164
785,574
684,912
663,497
599,645
636,296
634,250
597,334
1,036,632
1,174,552

1,174,552

1,036,632

597,334

634,250

636,296

599,645

663,497

684,912

785,574

867,164

840,053

138,685

138,630

138,574

138,519

138,463

Other Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,315
10,607
11,295
13,120
14,457
12,610
13,061
12,252
14,188
18,488
20,945
23,943
33,906
24,954
26,264
27,576
30,218
29,027
30,959
28,024
33,576
29,262
30,796
32,871
38,123
32,512
36,311
36,243
41,590
34,960
41,915
29,256
30,728
25,183
26,390
51,087
97,360
58,970
38,233
30,405
58,258
30,844
33,715
28,565
55,536
35,363
0
32,946
0
34,580
31,138
34,272
40,448
39,113
36,704
42,793
32,582
47,607
33,849
34,138
35,090
44,612
62,564
48,219
41,714
52,303
78,359
54,280
54,908
59,259
52,626
48,860
66,651
57,098
55,462
33,025
39,944
32,659
46,310
67,592
56,164
40,684
91,654
59,654
98,892
141,756
130,558
245,323
203,914
170,989
150,749
192,372
197,971

197,971

192,372

150,749

170,989

203,914

245,323

130,558

141,756

98,892

59,654

91,654

40,684

56,164

67,592

46,310

32,659

39,944

33,025

55,462

57,098

66,651

48,860

52,626

59,259

54,908

54,280

78,359

52,303

41,714

48,219

62,564

44,612

35,090

34,138

33,849

47,607

32,582

42,793

36,704

39,113

40,448

34,272

31,138

34,580

32,946

35,363

55,536

28,565

33,715

30,844

58,258

30,405

38,233

58,970

97,360

51,087

26,390

25,183

30,728

29,256

41,915

34,960

41,590

36,243

36,311

32,512

38,123

32,871

30,796

29,262

33,576

28,024

30,959

29,027

30,218

27,576

26,264

24,954

33,906

23,943

20,945

18,488

14,188

12,252

13,061

12,610

14,457

13,120

11,295

10,607

11,315

> Total Stockholder Equity

0
0
0
47,300
48,200
49,200
50,200
50,600
51,300
52,000
53,100
57,500
58,500
59,900
61,300
62,700
63,900
65,600
67,300
68,800
68,800
69,500
69,900
71,300
71,000
73,700
76,600
78,200
80,500
81,300
82,500
100,600
112,700
113,800
116,900
119,700
122,000
124,100
126,200
129,800
131,500
132,600
155,400
156,800
126,300
124,788
147,213
152,870
156,063
159,100
159,265
156,063
179,128
179,128
251,430
259,873
261,129
289,624
301,010
301,201
303,965
309,147
304,268
313,662
314,603
310,598
313,358
318,390
313,396
316,738
313,004
322,291
327,325
328,648
327,380
332,741
339,936
348,841
347,392
352,093
395,903
508,105
473,378
475,900
463,785
488,941
457,529
462,465
454,408
462,522
468,478
468,478
512,545
512,545
514,467
527,941
535,676
546,855
552,236
538,558
539,293
513,469
634,923
652,111
670,596
684,553
726,827
739,658
749,955
766,984
850,509
867,263
887,550
900,865
901,657
929,470
1,035,116
1,283,120
1,303,463
1,313,073
1,340,328
1,361,426
1,408,260
1,455,848
1,501,636
1,749,012
1,786,437
1,777,960
1,809,095
1,833,656
1,875,645
1,805,856
1,871,800
1,868,090
1,912,571
1,807,633
1,977,641
1,906,666

1,906,666

1,977,641

1,807,633

1,912,571

1,868,090

1,871,800

1,805,856

1,875,645

1,833,656

1,809,095

1,777,960

1,786,437

1,749,012

1,501,636

1,455,848

1,408,260

1,361,426

1,340,328

1,313,073

1,303,463

1,283,120

1,035,116

929,470

901,657

900,865

887,550

867,263

850,509

766,984

749,955

739,658

726,827

684,553

670,596

652,111

634,923

513,469

539,293

538,558

552,236

546,855

535,676

527,941

514,467

512,545

468,478

462,522

454,408

462,465

457,529

488,941

463,785

475,900

473,378

508,105

395,903

352,093

347,392

348,841

339,936

332,741

327,380

328,648

327,325

322,291

313,004

316,738

313,396

318,390

313,358

310,598

314,603

313,662

304,268

309,147

303,965

301,201

301,010

289,624

261,129

259,873

251,430

179,128

156,063

159,265

159,100

156,063

152,870

147,213

124,788

126,300

156,800

155,400

132,600

131,500

129,800

126,200

124,100

122,000

119,700

116,900

113,800

112,700

100,600

82,500

81,300

80,500

78,200

76,600

73,700

71,000

71,300

69,900

69,500

68,800

67,300

65,600

63,900

62,700

61,300

59,900

58,500

57,500

53,100

52,000

51,300

50,600

50,200

49,200

48,200

47,300

Common Stock

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,400
1,351
1,458
1,461
1,451
1,445
1,430
1,451
1,584
1,584
1,930
2,039
2,040
2,188
2,191
2,311
2,314
2,317
2,310
2,320
2,322
2,312
2,302
2,313
2,302
2,305
2,282
2,292
2,305
2,289
2,286
2,269
2,250
2,247
2,258
2,266
2,647
2,632
2,633
2,648
2,653
3,187
3,191
3,194
3,197
3,206
3,211
3,567
3,567
3,570
3,570
3,578
3,580
3,584
3,587
3,598
3,600
3,603
4,490
4,502
4,507
4,509
4,709
4,723
4,728
4,734
5,083
5,094
5,097
5,100
5,114
5,131
5,394
6,143
6,145
6,155
6,160
6,163
6,169
6,179
6,182
6,918
6,921
6,719
6,724
6,736
6,740
6,744
6,747
6,689
6,676
6,678
7,383
7,393

7,393

7,383

6,678

6,676

6,689

6,747

6,744

6,740

6,736

6,724

6,719

6,921

6,918

6,182

6,179

6,169

6,163

6,160

6,155

6,145

6,143

5,394

5,131

5,114

5,100

5,097

5,094

5,083

4,734

4,728

4,723

4,709

4,509

4,507

4,502

4,490

3,603

3,600

3,598

3,587

3,584

3,580

3,578

3,570

3,567

3,211

3,206

3,197

3,194

3,191

3,187

2,653

2,648

2,633

2,632

2,647

2,266

2,258

2,247

2,250

2,269

2,286

2,289

2,305

2,292

2,282

2,305

2,302

2,313

2,302

2,312

2,322

2,320

2,310

2,317

2,314

2,311

2,191

2,188

2,040

2,039

1,930

1,584

1,451

1,430

1,445

1,451

1,461

1,458

1,351

1,400

Retained Earnings Total Equity

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
169,313
162,669
162,669
168,717
168,717
181,664
188,863
198,094
206,397
216,530
225,034
233,546
242,935
254,735
266,980
280,187
292,403
305,526
319,298
332,162
342,133
355,317
369,568
384,868
400,981
417,983
434,309
449,759
465,231
493,624
522,362
552,551
583,336
611,220
639,362
663,173
696,520
716,518
735,439
757,550
788,578
755,877
795,666
832,728
864,839
897,818
917,311
961,542

961,542

917,311

897,818

864,839

832,728

795,666

755,877

788,578

757,550

735,439

716,518

696,520

663,173

639,362

611,220

583,336

552,551

522,362

493,624

465,231

449,759

434,309

417,983

400,981

384,868

369,568

355,317

342,133

332,162

319,298

305,526

292,403

280,187

266,980

254,735

242,935

233,546

225,034

216,530

206,397

198,094

188,863

181,664

168,717

162,669

169,313

Accumulated Other Comprehensive Income

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4,476
4,078
5,956
1,521
2,245
4,380
-2,112
2,345
-40
-3,822
-2,453
-3,346
-9,305
-9,916
-12,357
-8,244
-9,405
-8,789
-11,683
-7,779
-2,865
2,126
-4,308
-2,680
-15,664
-15,988
-18,480
-9,241
-8,826
-8,289
-2,926
1,329
-10,157
-6,914
-5,833
-5,833
600
600
-3,602
-3,325
-3,307
-2,021
-5,499
-6,748
-15,179
-16,198
-6,410
-1,016
4,210
4,150
-1,630
-1,915
-6,490
-3,614
-1,362
2,066
7,035
3,924
-13,581
-3,722
1,384
-6,358
-2,908
-21,725
-24,868
-35,409
-21,422
-1,595
14,602
25,648
27,874
53,656
63,845
65,468
74,836
35,810
60,080
39,889
55,113
-84,392
-198,556
-314,089

-314,089

-198,556

-84,392

55,113

39,889

60,080

35,810

74,836

First Merchants Corporation

Financial Health of First Merchants Corporation

Comparing to competitors in the Banks-Regional industry

Industry Rankings

First Merchants Corporation Buy, Hold or Sell?

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Let's analyse First Merchants Corporation

Summary

Financial Health

1.1. Profitability of First Merchants Corporation.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Banks-Regional)

1.1.2. Return on Assets

Trends

Compared to industry (Banks-Regional)

1.1.3. Return on Equity

Trends

Compared to industry (Banks-Regional)

1.2. Operating Efficiency of First Merchants Corporation.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Banks-Regional)

1.2.2. Operating Ratio

Trends

Compared to industry (Banks-Regional)

1.3. Liquidity of First Merchants Corporation.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Banks-Regional)

1.3.2. Quick Ratio

Trends

Compared to industry (Banks-Regional)

1.4. Solvency of First Merchants Corporation.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Banks-Regional)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Banks-Regional)

2. Market Valuation of First Merchants Corporation

2. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Banks-Regional)

2.2. Price Earnings to Growth Ratio

Trends

Compared to industry (Banks-Regional)

2. Book Value per Share

2.3. Price to Book Ratio

Trends

Compared to industry (Banks-Regional)

2. Total Gains per Share

2.4. Latest News of First Merchants Corporation

3. Holders & Insider Transactions

3.1. Institutions holding First Merchants Corporation

3.2. Funds holding First Merchants Corporation

3.3. Insider Transactions

4. Summary

4.1. Key Performance Indicators

4.2. Fundamental Score

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4.3. Technical Score

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First Merchants Corporation
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