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First Farmers Financial Corp (FFMR) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of First Farmers Financial Corp stock $29.39, price $37.25, that is 21.1% below the price, quality 59 out of 100. Rating: overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services US

FF First Farmers Financial Corp logo Some data Nov 7, 2026

First Farmers Financial Corp

FFMR · US
Solid, but expensive

Our calculation puts a fair price 21% below what the stock costs today.

Healthy Growth (revenue 5y +7.7 %/yr in USD)
Highly profitable · 38.3% net margin (TTM)
2.7% dividend yield · Low payout
Ranks above peers (8/13)
Costs just 9.3 times its yearly profit.
Quality 59/100
Wide moat 74/100 · thin data
Some data
Fair value $29.39 · Overvalued
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$37.75 $12.07 Fair Value $29.39 Dec 2016 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range $12.07 – $37.75 · fair‑value band $22.89 – $44.63 · the $37.25 price screens above the $29.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

First Farmers Financial Corporation operates as the financial holding company for First Farmers Bank & Trust, which provides banking products and services to individuals, families, and businesses.

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The company offers business products, including checking and savings accounts, business lending, leasing, treasury management, small business loans, autobooks and home base; personal banking products, such as essential, interest, and foundation checking, regular, minor, senior and health savings accounts, certificates of deposit, and individual retirement accounts, as well as account management services; and lines of credit, term loans, real estate financing and construction loan, equipment financing, inventory loans, livestock lending, and vehicle financing, as well as leasing, and mobile and online banking services.

The company also offers mortgages and construction loans, first time home buyers' loans, home equity loans, auto loans, collateral loans, and debit and credit cards.

The company has offices throughout Carroll, Cass, Clay, Grant, Hamilton, Howard, Huntington, Madison, Marshall, Miami, Starke, Sullivan, Tippecanoe, Tipton, Vigo, and Wabash counties in Indiana; and offices in Coles, Edgar, and Vermilion counties in Illinois.

First Farmers Financial Corporation was founded in 1885 and is headquartered in Converse, Indiana.

Stock analysis

First Farmers Financial Corp (FFMR) currently trades at $37.25, while our model-based Fair Value estimate is $29.39, 21% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $39.22 per share, and 1 of the 6 models we run sit above the $37.25 price.

Bear case: the Asset-Based group reads lowest at $15.06, and 5 of the 6 models stay below the price. Data coverage for this calculation is medium.

Scenario range: $22.89 (bear) to $44.63 (bull), the price of $37.25 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 59/100 (solid quality), in the Financial Services sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

First Farmers Financial Corp reported revenue of $138M in FY2025 versus $103M in FY2021, a compound +7.6%/yr. Reported net income was $50.1M in FY2025, compounding +8.6%/yr from FY2021.

Key figures

Market cap $517M Small · P/E ratio 9.3 · P/S ratio 3.98 · EPS (TTM) $4.02 · Dividend yield 2.7% · Net margin 38.3% · Return on equity 16.9% · Return on assets (EBIT) 1.7% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 74 out of 100 (low confidence).

What moves the price

The share trades about 1% below its 52-week high and 17% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −21%, FFMR screens cheaper than that median.

Fair Value models

Bear $22.89 Fair Value $29.39 Bull $44.63
Price $37.25 · Downside -21.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($2.59 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income $22.89 $29.39 $44.63 75
Gordon GGM $8.53 $16.57 $24.47 67
DDM Multi-Stage $8.53 $14.53 $17.55 67
All 6 models by family
Dividend Discount
Gordon GGM $8.53 $16.57 $24.47 67
DDM Multi-Stage $8.53 $14.53 $17.55 67
Multiples
P/E Multiple $35.21 $46.95 $58.69 63
P/B Multiple $23.61 $31.48 $39.35 55
Asset-Based
NCAV (Graham) $11.24 $15.06 $22.48 54
Economic Profit
Residual Income $22.89 $29.39 $44.63 75

Open the full fair value analysis →

Quality Score breakdown

Overall quality 59/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 37
How much profit the company makes from its sales and capital
Quality Growth 51
Are margins and returns getting better?
Cashflow 85
Do the profits arrive as real cash?
Financial strength 12
Debt, balance sheet and risk of trouble
Investment 66
Does it invest with discipline instead of growing at any price?
Low Volatility 100
How calm the share price moves, does not count
Price momentum 55
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 71
Distance to the 52-week high, does not count
New shares 86
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+9.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.7%
Start year 2020 (pandemic). Over 10 years: +8.4% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.8%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+13.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.8%
Dividend (yield on the price)2.7%

FFMR screens overvalued: fair value 21% below the price. Compare with China Merchants Bank Co →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 996 stocks

Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 59 · Above median
Fair Value upside −21.1% · Below median
Profitability
Return on equity (12 months) 16.9% · Top 25%
Return on assets 1.5% · Top 25%
Net margin (12 months) 38.3% · Top 25%
Operating margin (12 months) 35.4% · Below median
Growth and dividend
Revenue growth (quarter YoY) 11.6% · Above median
Dividend yield (12 months) 2.7% · Above median
Balance sheet
Debt / equity 0.65× · Above median

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (12 months) 9.3× · Cheaper than median
P/B 1.62× · Priciest 25%
P/S (12 months) 3.98× · Pricier than median
Price / free cash flow (fiscal year) 9.7× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)5 · sector 8
FUTURE (revenue growth)58 · sector 47
PAST (return on equity)67 · sector 43
HEALTH (low debt)–
DIVIDEND (yield)54 · sector 53

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Postal Savings Bank of China Co 601658 ¥5.53 ¥7.59 +37% vs FFMR
China Merchants Bank Co 600036 ¥42.88 ¥52.73 +23% vs FFMR
BNP Paribas SA BNP €91.93 €106.01 +15% vs FFMR
Intesa Sanpaolo S.p.A ISP €6.18 €4.49 −27% vs FFMR
State Bank of India SBIN ₹1,019 ₹736.65 −28% vs FFMR
UniCredit S.p.A UCG €76.80 €50.44 −34% vs FFMR
Mizuho Financial Group MFG $9.40 $5.89 −37% vs FFMR
DBS Group D05 69.72 SGD 40.39 SGD −42% vs FFMR
HDFC Bank Limited HDFCBANK ₹788.25 ₹406.39 −48% vs FFMR
ICICI Bank Limited ICICIBANK ₹1,571 ₹615.63 −61% vs FFMR

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First Farmers Financial Corp: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "First Farmers Financial Corp Fair Value". https://www.fairvalue-calculator.com/stock/FFMR

Frequently asked questions

Is First Farmers Financial Corp (FFMR) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $29.39 versus a price of $37.25, about 21% lower (overvalued).
What is the fair value of FFMR?
Our model-based fair value for First Farmers Financial Corp is $29.39 (as of Nov 7, 2026), built from audited fundamentals. The current price: $37.25.
What is the quality score of FFMR?
First Farmers Financial Corp has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for First Farmers Financial Corp (FFMR)?
Our model-based price target is the fair value of $29.39 (as of Nov 7, 2026) from 6 valuation models. Cautious scenario $22.89, optimistic scenario $44.63. It is a calculation from audited fundamentals, not an analyst target.
What is the First Farmers Financial Corp stock forecast for 2026?
Our models put fair value at $29.39, about 21% lower versus a price of $37.25 (overvalued). Cautious scenario $22.89, optimistic scenario $44.63. The calculation is refreshed regularly with new filings.
What is the revenue of First Farmers Financial Corp (FFMR)?
First Farmers Financial Corp reported trailing-twelve-month revenue of about $131M (latest available figure, as of Nov 7, 2026).
Does First Farmers Financial Corp pay a dividend?
First Farmers Financial Corp currently shows a dividend yield of 2.68% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of First Farmers Financial Corp (FFMR) and when is the ex-dividend date?
First Farmers Financial Corp pays a dividend of $1.00 per share a year, a dividend yield of 2.7%. The last ex-dividend date was Sep 30, 2026. A dividend has been paid every year since at least 2016. The payout ratio is 24.9% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of First Farmers Financial Corp (FFMR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For First Farmers Financial Corp it is $29.39 per share (as of Nov 7, 2026), against a price of $37.25. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is First Farmers Financial Corp stock overvalued or undervalued in 2026?
As of Nov 7, 2026, FFMR trades above its calculated fair value: price $37.25, fair value $29.39, a gap of about −21% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FFMR?
No. The price is what the market pays today ($37.25); the fair value is what the company's own numbers justify ($29.39). For First Farmers Financial Corp the two are $7.86 per share apart. That gap is exactly why we show both numbers side by side.
How much is First Farmers Financial Corp worth?
The market values First Farmers Financial Corp at about $517M (market capitalisation, as of Nov 7, 2026). Per share that is $37.25; our models calculate a fair value of $29.39 per share.
What do the bullish and bearish scenarios say about FFMR?
Our models span a range for First Farmers Financial Corp: cautious scenario $22.89, base $29.39, optimistic $44.63 per share (as of Nov 7, 2026, price $37.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FFMR?
First Farmers Financial Corp trades at a price-to-earnings ratio of 9.3 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $29.39 is built from several models across several years. Other multiples: P/B 1.6, P/S 4.0.
How solid is the balance sheet of First Farmers Financial Corp (FFMR)?
Balance-sheet figures for First Farmers Financial Corp (as of Nov 7, 2026): return on equity 16.9%, debt of 0.65 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is FFMR from its 52-week high?
First Farmers Financial Corp trades at $37.25, about 1% below its 52-week high of $37.75 and 17% above the low of $31.86 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $29.39 is for.
Which stocks are comparable to First Farmers Financial Corp?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is First Farmers Financial Corp stock attractive at the current price?
The data as of Nov 7, 2026: price $37.25, calculated fair value $29.39 (−21%), Quality Score 59/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FFMR calculated?
We run First Farmers Financial Corp through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of $29.39 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. First Farmers Financial Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of First Farmers Financial Corp (FFMR)?
The closing price on Nov 6, 2026 was $37.25. Our model-based fair value is $29.39, about 21% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with First Farmers Financial Corp right now?
Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($22.89 to $44.63) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of First Farmers Financial Corp

How large is the market capitalisation of First Farmers Financial Corp (FFMR)?
The market capitalisation of First Farmers Financial Corp is $517M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of First Farmers Financial Corp (FFMR)?
The price-to-sales ratio of First Farmers Financial Corp is 3.98 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of First Farmers Financial Corp (FFMR)?
Earnings per share at First Farmers Financial Corp are $4.02 (price ÷ EPS = P/E 9.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of First Farmers Financial Corp (FFMR)?
The dividend yield of First Farmers Financial Corp is 2.7% (payout 24.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of First Farmers Financial Corp (FFMR)?
The net margin of First Farmers Financial Corp is 38.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of First Farmers Financial Corp (FFMR)?
The return on equity (ROE) of First Farmers Financial Corp is 16.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of First Farmers Financial Corp (FFMR)?
On an EBIT basis the return on assets of First Farmers Financial Corp is 1.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of First Farmers Financial Corp (FFMR)?
The operating margin of First Farmers Financial Corp is 35.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at First Farmers Financial Corp (FFMR)?
Revenue at First Farmers Financial Corp is growing +11.6% versus a year earlier (3y avg +8.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at First Farmers Financial Corp (FFMR)?
Earnings per share at First Farmers Financial Corp are growing +21.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does First Farmers Financial Corp (FFMR) generate?
The free cash flow of First Farmers Financial Corp is $53.7M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does First Farmers Financial Corp (FFMR) carry?
The net debt of First Farmers Financial Corp is $85.3M (fiscal year 2025, ≈ 1.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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