As of 2026-09-25, the Relative Valuation of First Merchants Corp (FRME) is 45.78 USD. This relative valuation is based on P/E multiples. With the latest stock price at 40.49 USD, the upside of First Merchants Corp based on Relative Valuation is 13.1%.
The range of the Relative Valuation is 33.54 - 65.95 USD.
| Range | Selected | |
| Trailing P/E multiples | 11.2x - 11.6x | 11.6x |
| Forward P/E multiples | 11.3x - 15.3x | 13.2x |
| Fair Price | 33.54 - 65.95 | 45.78 |
| Upside | -17.2% - 62.9% | 13.1% |
| Date | P/E |
| 2026-09-22 | 13.60 |
| 2026-09-21 | 13.68 |
| 2026-09-18 | 13.67 |
| 2026-09-17 | 13.68 |
| 2026-09-16 | 13.74 |
| 2026-09-15 | 13.96 |
| 2026-09-14 | 13.89 |
| 2026-09-11 | 13.75 |
| 2026-09-10 | 13.75 |
| 2026-09-09 | 13.62 |
| 2026-09-08 | 13.77 |
| 2026-09-04 | 14.07 |
| 2026-09-03 | 14.08 |
| 2026-09-02 | 13.94 |
| 2026-09-01 | 13.69 |
| 2026-08-31 | 13.87 |
| 2026-08-28 | 14.03 |
| 2026-08-27 | 13.94 |
| 2026-08-26 | 13.94 |
| 2026-08-25 | 13.90 |
| 2026-08-24 | 14.02 |
| 2026-08-21 | 14.06 |
| 2026-08-20 | 14.03 |
| 2026-08-19 | 14.06 |
| 2026-08-18 | 14.46 |
| 2026-08-17 | 14.56 |
| 2026-08-14 | 14.62 |
| 2026-08-13 | 14.51 |
| 2026-08-12 | 14.46 |
| 2026-08-11 | 14.31 |
| 2026-08-10 | 14.19 |
| 2026-08-07 | 14.25 |
| 2026-08-06 | 14.32 |
| 2026-08-05 | 14.51 |
| 2026-08-04 | 14.56 |
| 2026-08-03 | 14.60 |
| 2026-07-31 | 14.43 |
| 2026-07-30 | 14.46 |
| 2026-07-29 | 14.47 |
| 2026-07-28 | 14.53 |
| 2026-07-27 | 14.27 |
| 2026-07-24 | 14.44 |
| 2026-07-23 | 14.01 |
| 2026-07-22 | 14.64 |
| 2026-07-21 | 14.73 |
| 2026-07-20 | 14.83 |
| 2026-07-17 | 14.92 |
| 2026-07-16 | 15.13 |
| 2026-07-15 | 14.64 |
| 2026-07-14 | 14.48 |