First Merchants annual net debt
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2025
First Merchants Net Debt Growth & History (FRME)
First Merchants's net debt was $934.9M for fiscal 2025.
View full First Merchants company overviewFirst Merchants annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $934.9M | −$159.5M | −14.58% |
| 2024 | 2024-12-31 | $1.09B | $156.0M | +16.62% |
| 2023 | 2023-12-31 | $938.5M | −$278.2M | −22.87% |
| 2022 | 2022-12-31 | $1.22B | $729.9M | +149.97% |
| 2021 | 2021-12-31 | $486.7M | −$25.4M | −4.95% |
| 2020 | 2020-12-31 | $512.1M | −$64.8M | −11.24% |
| 2019 | 2019-12-31 | $576.9M | $45.2M | +8.50% |
| 2018 | 2018-12-31 | $531.7M | −$147.8M | −21.75% |
| 2017 | 2017-12-31 | $679.5M | $113.2M | +19.99% |
| 2016 | 2016-12-31 | $566.3M | $99.9M | +21.42% |
| 2015 | 2015-12-31 | $466.4M | $173.0M | +58.97% |
| 2014 | 2014-12-31 | $293.4M | −$120.5M | −29.11% |
| 2013 | 2013-12-31 | $413.8M | — | — |
First Merchants quarterly net debt
Q4.13
Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
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Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
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Q3.19
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Q1.20
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Q4.20
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Q2.21
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Q4.21
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Q3.22
Q4.22
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Q2.23
Q3.23
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Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q1 2026 | 2026-03-31 | $1.55B | $290.0M | +23.07% |
| Q4 2025 | 2025-12-31 | $934.9M | −$159.5M | −14.58% |
| Q3 2025 | 2025-09-30 | $1.09B | $93.4M | +9.37% |
| Q2 2025 | 2025-06-30 | $1.08B | $10.9M | +1.02% |
| Q1 2025 | 2025-03-31 | $1.26B | $495.8M | +65.14% |
| Q4 2024 | 2024-12-31 | $1.09B | $156.0M | +16.62% |
| Q3 2024 | 2024-09-30 | $996.4M | $97.0M | +10.78% |
| Q2 2024 | 2024-06-30 | $1.07B | $150.3M | +16.37% |
| Q1 2024 | 2024-03-31 | $761.1M | −$267.0M | −25.97% |
| Q4 2023 | 2023-12-31 | $938.5M | −$278.2M | −22.87% |
| Q3 2023 | 2023-09-30 | $899.4M | −$155.6M | −14.75% |
| Q2 2023 | 2023-06-30 | $918.3M | $94.2M | +11.43% |
| Q1 2023 | 2023-03-31 | $1.03B | $579.1M | +128.96% |
| Q4 2022 | 2022-12-31 | $1.22B | $729.9M | +149.97% |
| Q3 2022 | 2022-09-30 | $1.06B | $588.0M | +125.90% |
| Q2 2022 | 2022-06-30 | $824.1M | $392.0M | +90.74% |
| Q1 2022 | 2022-03-31 | $449.1M | −$26.5M | −5.58% |
| Q4 2021 | 2021-12-31 | $486.7M | −$25.4M | −4.95% |
| Q3 2021 | 2021-09-30 | $467.0M | −$153.9M | −24.79% |
| Q2 2021 | 2021-06-30 | $432.0M | −$205.4M | −32.22% |
| Q1 2021 | 2021-03-31 | $475.6M | −$236.7M | −33.23% |
| Q4 2020 | 2020-12-31 | $512.1M | −$64.8M | −11.24% |
| Q3 2020 | 2020-09-30 | $620.9M | $116.4M | +23.06% |
| Q2 2020 | 2020-06-30 | $637.4M | −$50.3M | −7.31% |
| Q1 2020 | 2020-03-31 | $712.3M | $189.7M | +36.30% |
| Q4 2019 | 2019-12-31 | $576.9M | $45.2M | +8.50% |
| Q3 2019 | 2019-09-30 | $504.6M | −$85.6M | −14.51% |
| Q2 2019 | 2019-06-30 | $687.7M | −$17.5M | −2.48% |
| Q1 2019 | 2019-03-31 | $522.6M | −$125.2M | −19.32% |
| Q4 2018 | 2018-12-31 | $531.7M | −$147.8M | −21.75% |
| Q3 2018 | 2018-09-30 | $590.2M | −$51.8M | −8.07% |
| Q2 2018 | 2018-06-30 | $705.2M | $143.9M | +25.64% |
| Q1 2018 | 2018-03-31 | $647.8M | $43.3M | +7.16% |
| Q4 2017 | 2017-12-31 | $679.5M | $113.2M | +19.99% |
| Q3 2017 | 2017-09-30 | $642.0M | $119.3M | +22.82% |
| Q2 2017 | 2017-06-30 | $561.3M | $124.7M | +28.57% |
| Q1 2017 | 2017-03-31 | $604.5M | $148.4M | +32.54% |
| Q4 2016 | 2016-12-31 | $566.3M | $99.9M | +21.42% |
| Q3 2016 | 2016-09-30 | $522.7M | $40.9M | +8.49% |
| Q2 2016 | 2016-06-30 | $436.6M | −$10.1M | −2.25% |
| Q1 2016 | 2016-03-31 | $456.1M | $118.1M | +34.95% |
| Q4 2015 | 2015-12-31 | $466.4M | $173.0M | +58.97% |
| Q3 2015 | 2015-09-30 | $481.8M | −$5.5M | −1.14% |
| Q2 2015 | 2015-06-30 | $446.6M | −$18.3M | −3.93% |
| Q1 2015 | 2015-03-31 | $338.0M | — | — |
| Q4 2014 | 2014-12-31 | $293.4M | −$120.5M | −29.11% |
| Q3 2014 | 2014-09-30 | $487.4M | — | — |
| Q2 2014 | 2014-06-30 | $464.9M | — | — |
| Q4 2013 | 2013-12-31 | $413.8M | — | — |
First Merchants net debt trends
Over the last five fiscal years, First Merchants's net debt increased from $512.1M to $934.9M, a change of $422.8M. The latest reported quarter, Q1 2026, shows $1.55B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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