EFSC vs. FRME
EFSC (Enterprise Financial Services Corp) and FRME (First Merchants Corporation) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, EFSC returned 11.30%/yr vs 8.78%/yr for FRME. A 0.62 correlation means they provide meaningful diversification when combined.
Performance
EFSC vs. FRME - Performance Comparison
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Returns By Period
In the year-to-date period, EFSC achieves a 21.14% return, which is significantly higher than FRME's 13.92% return. Over the past 10 years, EFSC has outperformed FRME with an annualized return of 11.30%, while FRME has yielded a comparatively lower 8.78% annualized return.
EFSC
- 1D
- 2.21%
- 1M
- 6.88%
- YTD
- 21.14%
- 6M
- 18.08%
- 1Y
- 22.00%
- 3Y*
- 21.14%
- 5Y*
- 8.55%
- 10Y*
- 11.30%
FRME
- 1D
- 1.75%
- 1M
- 5.38%
- YTD
- 13.92%
- 6M
- 10.99%
- 1Y
- 17.24%
- 3Y*
- 19.45%
- 5Y*
- 2.98%
- 10Y*
- 8.78%
EFSC vs. FRME - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFSC Enterprise Financial Services Corp | 21.14% | -2.14% | 29.29% | -6.64% | 6.02% | 36.90% | -25.74% | 29.99% | -15.86% | 6.10% |
FRME First Merchants Corporation | 13.92% | -2.55% | 11.82% | -5.82% | 1.11% | 14.99% | -6.93% | 24.62% | -16.93% | 13.63% |
Correlation
The correlation between EFSC and FRME is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2003 | 0.62 |
The correlation between EFSC and FRME shifts across timeframes, from 0.62 (all time) to 0.83 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
EFSC:
$2.40B
FRME:
$2.56B
EFSC:
$5.39
FRME:
$3.40
EFSC:
12.00
FRME:
12.31
EFSC:
1.23
FRME:
14.53
EFSC:
2.52
FRME:
2.34
EFSC:
1.23
FRME:
0.96
EFSC:
$954.93M
FRME:
$1.05B
EFSC:
$670.18M
FRME:
$484.80M
EFSC:
$290.91M
FRME:
$217.48M
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Return for Risk
EFSC vs. FRME — Risk / Return Rank
EFSC
FRME
EFSC vs. FRME - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enterprise Financial Services Corp (EFSC) and First Merchants Corporation (FRME). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EFSC | FRME | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.14 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 1.10 | +0.35 |
| Martin ratioReturn relative to average drawdown | 2.98 | 2.29 | +0.69 |
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Drawdowns
EFSC vs. FRME - Drawdown Comparison
The maximum EFSC drawdown since its inception was -77.62%, roughly equal to the maximum FRME drawdown of -81.31%. Use the drawdown chart below to compare losses from any high point for EFSC and FRME.
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Drawdown Indicators
| EFSC | FRME | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.62% | -81.31% | +3.69% |
Max Drawdown (1Y)Largest decline over 1 year | -15.28% | -15.73% | +0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -25.03% | -23.94% | -1.09% |
Max Drawdown (5Y)Largest decline over 5 years | -38.76% | -43.72% | +4.96% |
Max Drawdown (10Y)Largest decline over 10 years | -57.17% | -53.03% | -4.14% |
Current DrawdownCurrent decline from peak | 0.00% | -2.13% | +2.13% |
Average DrawdownAverage peak-to-trough decline | -26.94% | -19.22% | -7.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.41% | 7.55% | -0.14% |
Volatility
EFSC vs. FRME - Volatility Comparison
The current volatility for Enterprise Financial Services Corp (EFSC) is 6.88%, while First Merchants Corporation (FRME) has a volatility of 7.48%. This indicates that EFSC experiences smaller price fluctuations and is considered to be less risky than FRME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EFSC | FRME | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.88% | 7.48% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 17.44% | 16.64% | +0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.65% | 24.61% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.82% | 29.94% | -1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.01% | 32.76% | +0.25% |
Dividends
EFSC vs. FRME - Dividend Comparison
EFSC's dividend yield for the trailing twelve months is around 2.01%, less than FRME's 3.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFSC Enterprise Financial Services Corp | 2.01% | 2.26% | 1.88% | 2.24% | 1.84% | 1.59% | 2.06% | 1.29% | 1.25% | 0.97% | 0.95% | 0.93% |
FRME First Merchants Corporation | 3.46% | 3.82% | 3.48% | 3.61% | 3.04% | 2.70% | 2.78% | 2.40% | 2.45% | 1.64% | 1.43% | 1.61% |
Financials
EFSC vs. FRME - Financials Comparison
This section allows you to compare key financial metrics between Enterprise Financial Services Corp and First Merchants Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
EFSC vs. FRME - Profitability Comparison
EFSC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Enterprise Financial Services Corp reported a gross profit of 177.99M and revenue of 244.18M. Therefore, the gross margin over that period was 72.9%.
FRME - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, First Merchants Corporation reported a gross profit of 0.00 and revenue of 248.57M. Therefore, the gross margin over that period was 0.0%.
EFSC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Enterprise Financial Services Corp reported an operating income of 62.86M and revenue of 244.18M, resulting in an operating margin of 25.7%.
FRME - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, First Merchants Corporation reported an operating income of 0.00 and revenue of 248.57M, resulting in an operating margin of 0.0%.
EFSC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Enterprise Financial Services Corp reported a net income of 49.36M and revenue of 244.18M, resulting in a net margin of 20.2%.
FRME - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, First Merchants Corporation reported a net income of 28.16M and revenue of 248.57M, resulting in a net margin of 11.3%.
Frequently Asked Questions
EFSC and FRME have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRME has higher volatility (7.48%) compared to EFSC (6.88%). In terms of maximum drawdown, EFSC dropped -77.62% vs FRME's -81.31%.
EFSC currently has the higher Sharpe Ratio (0.90 vs 0.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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