First Historical Income Statement

FRME Stock

USD 42.97 0.72 1.65%

Historical analysis of First Merchants income statement accounts such as Operating Income of 272.2 M or Ebit of 272.2 M can show how well First Merchants performed in making a profits. Evaluating First Merchants income statement over time to spot trends is a great complementary tool to traditional technical analysis and can indicate the direction of First Merchants's future profits or losses.

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Financial Statement Analysis is much more than just reviewing and examining First Merchants latest accounting reports to predict its past. Macroaxis encourages investors to analyze financial statements over time for various trends across multiple indicators and accounts to determine whether First Merchants is a good buy for the upcoming year.

Net Income Gross Profit

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Merchants. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For information on how to trade First Stock refer to our How to Trade First Stock guide.

About First Income Statement Analysis

First Merchants Income Statement consists of revenues and expenses along with the resulting net income or loss. It represents the profit for the accounting period attributable to First Merchants shareholders. The income statement also shows First investors and management if the firm made money during the period reported. The result of an income statement is the net income that is calculated after subtracting the expenses from revenue. It is essential to investors both as an absolute measure as well as earnings per share (i.e., EPS).

First Merchants Income Statement Chart

At present, First Merchants' Other Operating Expenses is projected to increase significantly based on the last few years of reporting. The current year's Operating Income is expected to grow to about 272.2 M, whereas Cost Of Revenue is forecasted to decline to about 56.2 M.

Other Operating Expenses Operating Income Ebitda Net Income

Other Operating Expenses

Other Operating Expenses is the expense which generally does not depend on sales or production quantities of First Merchants. It is also known as First Merchants overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.

Operating Income

Operating Income is the amount of profit realized from First Merchants operations after accounting for operating expenses such as cost of goods sold (COGS), wages and depreciation. Operating income takes the gross income and subtracts other operating expenses and then removes depreciation. Operating Income of First Merchants is typically a synonym for earnings before interest and taxes (EBIT) and is also commonly referred to as operating profit or recurring profit. Earnings before interest and taxes (EBIT), representing the amount of profit a company generates from its operations.

Net Income

Net income is one of the most important fundamental items in finance. It plays a large role in First Merchants financial statement analysis. It represents the amount of money remaining after all of First Merchants operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.

Most accounts from First Merchants' income statement are interrelated and interconnected. However, analyzing income statement accounts one by one will only give a small insight into First Merchants current financial condition. On the other hand, looking into the entire matrix of income statement accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Merchants. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For information on how to trade First Stock refer to our How to Trade First Stock guide.At present, First Merchants' Other Operating Expenses is projected to increase significantly based on the last few years of reporting. The current year's Operating Income is expected to grow to about 272.2 M, whereas Cost Of Revenue is forecasted to decline to about 56.2 M.

	2021	2022	2023	2024 (projected)
Operating Income	240.8M	340.5M	259.2M	272.2M
Other Operating Expenses	279.2M	287.7M	333.0M	349.7M

Operating Income Other Operating Expenses

First Merchants income statement Correlations

	Interest Expense	Other Operating Expenses	Operating Income	Ebit	Ebitda	Total Operating Expenses	Net Income	Income Tax Expense	Depreciation And Amortization	Selling General Administrative	Total Revenue	Gross Profit	Income Before Tax	Total Other Income Expense Net	Selling And Marketing Expenses	Cost Of Revenue	Net Income From Continuing Ops	Tax Provision	Net Interest Income	Interest Income	Reconciled Depreciation	Extraordinary Items
Interest Expense		0.68	0.58	0.65	0.65	0.76	0.71	0.51	0.68	0.81	0.75	0.75	0.7	-0.13	0.7	0.3	0.56	0.65	0.68	0.76	0.69	0.92
Other Operating Expenses	0.68		0.79	0.81	0.82	0.13	0.89	0.69	0.9	0.89	0.92	0.92	0.88	0.2	0.9	0.6	0.81	0.54	0.85	0.81	0.51	0.52
Operating Income	0.58	0.79		0.97	0.98	0.03	0.95	0.85	0.87	0.9	0.94	0.94	0.96	-0.14	0.9	0.52	0.9	0.65	0.88	0.81	0.3	0.4
Ebit	0.65	0.81	0.97		1.0	0.1	0.96	0.89	0.87	0.91	0.94	0.94	0.97	-0.09	0.9	0.51	0.89	0.68	0.86	0.8	0.34	0.47
Ebitda	0.65	0.82	0.98	1.0		0.1	0.96	0.88	0.88	0.92	0.95	0.95	0.97	-0.09	0.91	0.52	0.9	0.67	0.86	0.81	0.35	0.48
Total Operating Expenses	0.76	0.13	0.03	0.1	0.1		0.13	0.0	0.18	0.3	0.19	0.19	0.12	-0.42	0.09	-0.02	0.0	0.43	0.16	0.3	0.44	0.81
Net Income	0.71	0.89	0.95	0.96	0.96	0.13		0.81	0.93	0.94	0.98	0.98	1.0	0.01	0.96	0.58	0.93	0.67	0.93	0.88	0.4	0.53
Income Tax Expense	0.51	0.69	0.85	0.89	0.88	0.0	0.81		0.69	0.81	0.83	0.83	0.85	-0.1	0.78	0.17	0.74	0.7	0.66	0.62	0.19	0.38
Depreciation And Amortization	0.68	0.9	0.87	0.87	0.88	0.18	0.93	0.69		0.92	0.95	0.95	0.91	0.02	0.91	0.64	0.86	0.59	0.91	0.84	0.45	0.52
Selling General Administrative	0.81	0.89	0.9	0.91	0.92	0.3	0.94	0.81	0.92		0.99	0.99	0.95	-0.07	0.95	0.41	0.84	0.67	0.88	0.86	0.5	0.65
Total Revenue	0.75	0.92	0.94	0.94	0.95	0.19	0.98	0.83	0.95	0.99		1.0	0.98	0.0	0.97	0.5	0.89	0.65	0.92	0.87	0.48	0.58
Gross Profit	0.75	0.92	0.94	0.94	0.95	0.19	0.98	0.83	0.95	0.99	1.0		0.98	0.0	0.97	0.51	0.89	0.65	0.92	0.87	0.48	0.58
Income Before Tax	0.7	0.88	0.96	0.97	0.97	0.12	1.0	0.85	0.91	0.95	0.98	0.98		-0.01	0.96	0.55	0.93	0.69	0.92	0.86	0.38	0.53
Total Other Income Expense Net	-0.13	0.2	-0.14	-0.09	-0.09	-0.42	0.01	-0.1	0.02	-0.07	0.0	0.0	-0.01		0.18	0.23	0.05	-0.4	-0.01	0.0	0.32	-0.24
Selling And Marketing Expenses	0.7	0.9	0.9	0.9	0.91	0.09	0.96	0.78	0.91	0.95	0.97	0.97	0.96	0.18		0.52	0.89	0.55	0.9	0.86	0.53	0.5
Cost Of Revenue	0.3	0.6	0.52	0.51	0.52	-0.02	0.58	0.17	0.64	0.41	0.5	0.51	0.55	0.23	0.52		0.64	0.32	0.68	0.62	0.29	0.18
Net Income From Continuing Ops	0.56	0.81	0.9	0.89	0.9	0.0	0.93	0.74	0.86	0.84	0.89	0.89	0.93	0.05	0.89	0.64		0.68	0.96	0.93	0.39	0.49
Tax Provision	0.65	0.54	0.65	0.68	0.67	0.43	0.67	0.7	0.59	0.67	0.65	0.65	0.69	-0.4	0.55	0.32	0.68		0.71	0.74	0.19	0.7
Net Interest Income	0.68	0.85	0.88	0.86	0.86	0.16	0.93	0.66	0.91	0.88	0.92	0.92	0.92	-0.01	0.9	0.68	0.96	0.71		0.97	0.5	0.6
Interest Income	0.76	0.81	0.81	0.8	0.81	0.3	0.88	0.62	0.84	0.86	0.87	0.87	0.86	0.0	0.86	0.62	0.93	0.74	0.97		0.62	0.73
Reconciled Depreciation	0.69	0.51	0.3	0.34	0.35	0.44	0.4	0.19	0.45	0.5	0.48	0.48	0.38	0.32	0.53	0.29	0.39	0.19	0.5	0.62		0.67
Extraordinary Items	0.92	0.52	0.4	0.47	0.48	0.81	0.53	0.38	0.52	0.65	0.58	0.58	0.53	-0.24	0.5	0.18	0.49	0.7	0.6	0.73	0.67

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First Merchants Account Relationship Matchups

First Merchants income statement Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Interest Expense	108.7M	66.4M	36.0M	84.8M	348.5M	365.9M
Other Operating Expenses	249.6M	322.1M	279.2M	287.7M	333.0M	349.7M
Operating Income	193.8M	170.0M	240.8M	340.5M	259.2M	272.2M
Ebit	193.8M	170.0M	240.8M	255.7M	259.2M	272.2M
Ebitda	199.8M	181.0M	251.5M	267.5M	270.9M	284.5M
Total Operating Expenses	(249.6M)	(322.1M)	(279.2M)	(287.7M)	333.0M	349.7M
Net Income	164.5M	148.6M	205.5M	222.1M	223.8M	235.0M
Income Tax Expense	29.3M	21.4M	35.3M	33.6M	35.4M	37.2M
Depreciation And Amortization	6.0M	11.0M	10.7M	11.8M	11.7M	12.3M
Selling General Administrative	144.8M	161.7M	173.2M	217.1M	243.4M	255.6M
Total Revenue	443.3M	492.1M	520.0M	628.1M	654.3M	687.0M
Gross Profit	443.3M	492.1M	520.0M	628.1M	654.3M	687.0M
Income Before Tax	193.8M	170.0M	240.8M	255.7M	259.2M	272.2M
Total Other Income Expense Net	193.8M	170.0M	(32.3M)	(84.8M)	(62.0M)	(65.2M)
Selling And Marketing Expenses	6.7M	6.6M	5.8M	7.7M	7.4M	7.8M
Net Income Applicable To Common Shares	164.5M	148.6M	205.5M	220.7M	253.8M	266.5M
Net Income From Continuing Ops	164.5M	148.6M	205.5M	222.1M	252.1M	132.8M
Tax Provision	29.3M	21.4M	35.3M	33.6M	43.7M	34.6M
Net Interest Income	356.7M	382.1M	410.7M	520.2M	564.3M	400.0M
Interest Income	465.4M	448.5M	446.6M	605.0M	847.9M	490.2M
Reconciled Depreciation	9.4M	11.0M	5.7M	8.3M	11.7M	9.9M

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When determining whether First Merchants is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if First Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about First Merchants Stock. Highlighted below are key reports to facilitate an investment decision about First Merchants Stock:

How To Invest In First

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Is First Stock a good investment?

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What is First Merchants' Net Worth?

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Largest Regional Banks Companies

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Largest Banks - Regional Companies

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For information on how to trade First Stock refer to our How to Trade First Stock guide.

You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.

Is Regional Banks space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of First Merchants. If investors know First will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about First Merchants listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.

Quarterly Earnings Growth

(0.11)

Dividend Share

1.38

Earnings Share

3.01

Revenue Per Share

10.11

Quarterly Revenue Growth

(0.05)

The market value of First Merchants is measured differently than its book value, which is the value of First that is recorded on the company's balance sheet. Investors also form their own opinion of First Merchants' value that differs from its market value or its book value, called intrinsic value, which is First Merchants' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because First Merchants' market value can be influenced by many factors that don't directly affect First Merchants' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.

Please note, there is a significant difference between First Merchants' value and its price as these two are different measures arrived at by different means. Investors typically determine if First Merchants is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, First Merchants' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

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First Historical Income Statement

About First Income Statement Analysis

First Merchants Income Statement Chart

Other Operating Expenses

Operating Income

Net Income

First Merchants income statement Correlations

First Merchants Account Relationship Matchups

High Positive Relationship

High Negative Relationship

First Merchants income statement Accounts

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Ebitda	+ 1.0	Ebit
Income Before Tax	+ 1.0	Net Income
Gross Profit	+ 1.0	Total Revenue
Total Revenue	+ 0.99	Selling General Administrative
Gross Profit	+ 0.99	Selling General Administrative
Ebitda	+ 0.98	Operating Income

Total Other Income Expense Net	- 0.42	Total Operating Expenses
Tax Provision	- 0.4	Total Other Income Expense Net
Extraordinary Items	- 0.24	Total Other Income Expense Net
Total Other Income Expense Net	- 0.14	Operating Income
Total Other Income Expense Net	- 0.13	Interest Expense
Total Other Income Expense Net	- 0.1	Income Tax Expense