First MerchantsFRME +1.96%60 FCF Margin % is 37.29% as of Mar. 2026, which is 10% below its 10-year median of 41.42. GuruFocus rates FRME with a GF Score™ of 60/100 and a GF Value™ of $39.78 (Fairly Valued). The stock has 5 warning signs investors should review. Among 1,505 Banks companies, First Merchants ranks better than 70.7% on this metric.
The historical rank and industry rank for First Merchants's FCF Margin % or its related term are showing as below:
FRME'
s FCF Margin % Range Over the Past 10 Years
Min: 35.56 Med: 41.42 Max: 45.26
Current: 42.52
During the past 13 years, the highest FCF Margin % of First Merchants was 45.26%. The lowest was 35.56%. And the median was 41.42%.
FRME's FCF Margin % is ranked better than 70.7% of 1505
companies
in the Banks industry
Industry Median: 26.42
vs FRME: 42.52
First Merchants FCF Margin % Related Terms
First Merchants FCF Margin % Historical Data
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The historical data trend for First Merchants's FCF Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Banks - Regional subindustry, First Merchants's FCF Margin %, along with its competitors' market caps and FCF Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
First Merchants FCF Margin % vs Banks Industry
For the Banks industry and Financial Services sector, First Merchants's FCF Margin % distribution charts can be found below:
* The bar in red indicates where First Merchants's FCF Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
First Merchants (FRME) has a FCF Margin % of 37.29% as of Mar. 2026. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on First Merchants and its competitors. This is 10% below median its historical median of 41.42. Over the past decade, First Merchants' FCF Margin % has ranged from 35.56 to 45.26. According to the industry distribution chart, First Merchants ranks #441 out of 1505 companies in the Banks industry, placing it in the top 29.3%.
Is First Merchants' FCF Margin % too high?
First Merchants' current FCF Margin % of 37.29% is 10% below median its 10-year median of 41.42. Over the past 10 years, this metric has ranged from a low of 35.56 to a high of 45.26. The Banks industry median FCF Margin % is 26.42. First Merchants' value of 37.29% is 41.1% above this industry median. Based on the distribution chart, First Merchants ranks #441 out of 1505 companies in the Banks industry, which is above the industry midpoint. Overall, First Merchants has a GF Score™ of 60/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does First Merchants' FCF Margin % compare to CUBI and TRMK?
According to the Banks industry distribution chart, First Merchants ranks #441 out of 1505 companies for FCF Margin %. This puts First Merchants in the upper half of its industry. The industry median FCF Margin % is 26.42. First Merchants' value of 37.29% is 41.1% above this benchmark. Historically, First Merchants' own FCF Margin % has ranged from 35.56 to 45.26 over the past decade. While the company's 10-year median is 41.42 vs. the industry median of 26.42, First Merchants has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good FCF Margin % for a Banks company?
The median FCF Margin % among Banks companies is 26.42, based on 1,505 companies in the industry. Companies in the top quartile (top 25%) have a FCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Merchants's current FCF Margin % of 37.29% is 41.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on First Merchants and its competitors. For the Banks industry, the median FCF Margin % is 26.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Merchants's current FCF Margin % is 37.29%, which is 10% below median its own 10-year median of 41.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Merchants stock overvalued right now?
Based on GuruFocus' analysis, First Merchants (FRME) is currently considered Fairly Valued. The stock's GF Value™ is $39.78, compared to a current price of $42.73 — trading 7.4% above its estimated fair value. The current FCF Margin % is 37.29%, which is 10% below median its 10-year median of 41.42 and 41.1% above the Banks industry median of 26.42. First Merchants' overall GF Score™ is 60/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For First Merchants (FRME), the current FCF Margin % is 37.29% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is First Merchants (FRME) Overvalued in 2026?
Based on GuruFocus' analysis, First Merchants stock appears to be overvalued.
The current stock price of $42.73 is trading 7.4% above its estimated GF Value™ of $39.78.
GuruFocus considers First Merchants to be Fairly Valued.
Key valuation signals for FRME:
FCF Margin %: 37.29% (10% below median its 10-year median of 41.42)
GF Value™: $39.78 vs. price of $42.73 (7.4% above fair value)
Industry Position: 41.1% above the Banks median (#441 of 1505)
No single metric tells the full story. See the FRME stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Merchants Corp, through its subsidiaries, provides its customers with financial services delivered locally by bankers. It offers personal banking, business banking, real estate mortgage lending, cash management services, brokerage, wealth management, and insurance. The company reports in only one segment, which is community banking.
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