First Merchants Corporation
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $662.9M | $646.7M | $651.0M | $628.1M | $520.0M | $492.1M | $443.3M | $415.3M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $259.1M | $231.7M | $607.7M | $340.5M | $276.7M | $236.4M | $302.5M | $257.2M |
| Operating Margin | 39.1% | 35.8% | 93.4% | 54.2% | 53.2% | 48.0% | 68.2% | 61.9% |
| Interest Expense | — | — | $348.5M | $84.8M | $36.0M | $66.4M | $108.7M | $69.1M |
| Pretax Income | $259.1M | $231.7M | $259.2M | $255.7M | $240.8M | $170.0M | $193.8M | $188.1M |
| Income Tax Expense | $33.1M | $30.3M | $35.4M | $33.6M | $35.3M | $21.4M | $29.3M | $29.0M |
| Net Income | $226.0M | $201.4M | $223.8M | $222.1M | $205.5M | $148.6M | $164.5M | $159.1M |
| Net Margin | 34.1% | 31.1% | 34.4% | 35.4% | 39.5% | 30.2% | 37.1% | 38.3% |
| EPS (Basic) | $3.90 | $3.42 | $3.74 | $3.83 | $3.82 | $2.75 | $3.20 | $3.23 |
| EPS (Diluted) | $3.88 | $3.41 | $3.73 | $3.81 | $3.81 | $2.74 | $3.19 | $3.22 |
| Shares Outstanding (Basic) | 57.5M | 58.3M | 59.3M | 57.7M | 53.8M | 54.1M | 51.4M | 49.3M |
| Shares Outstanding (Diluted) | 57.7M | 58.5M | 59.5M | 58.0M | 54.0M | 54.2M | 51.6M | 49.5M |
| Dividends Per Share | $1.43 | $1.39 | $1.34 | $1.25 | $1.13 | $1.04 | $1.00 | $0.84 |