Saturday 17 October 2026 Export IBCP’s income statement to Excel — free account

Independent Bank Corp.

Independent Bank Corp.’s revenue for fiscal 2025 (year ended December 2025) was $315.4 million, down 2.40% from fiscal 2024. In the quarter to June 2026, revenue grew 5.66%, EPS grew 12.4%, free cash flow fell 1.00% and total debt fell 8.02%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.

35.60 0.31 +0.88%

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Market cap: $783.4M
P/E: 10.2×
Fwd P/E: 10.0×
Dividend yield: 3.09%
F-score: 8/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.06

Total sells 0.36

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	1	—	—	1	—	—	—	—	—	—	—	—
Sell	1	1	—	—	—	—	1	1	—	2	1	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 783.42

Revenue 321.46

Net Income 71.75

Free Cash Flow 38.13

Net Debt 1.45

Current Ratio 0.95

Debt/Equity 0.32

P/E ratio 10.23

Fwd P/E 10.00

P/S ratio 2.28

P/B ratio 1.39

Past 5Y EPS Growth 5.27%

This Y EPS Growth 7.03%

Next Y EPS Growth 8.81%

Next Y revenue growth (35.03%)

Next 5Y EPS Growth 6.30%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 49.80%

10-year low 10-year high

P/S against its own 10 years 50.79%

10-year low 10-year high

P/B against its own 10 years 50.90%

10-year low 10-year high

Dividends

Payout Ratio 0.32

Annual Dividend Rate 1.10

Annual Dividend Yield 3.09%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.12	0.28 0.28 0.28
2025	1.04	0.26 0.26 0.26 0.26
2024	0.96	0.24 0.24 0.24 0.24
2023	0.92	0.23 0.23 0.23 0.23
2022	0.88	0.22 0.22 0.22 0.22
2021	0.84	0.21 0.21 0.21 0.21
2020	0.80	0.20 0.20 0.20 0.20
2019	0.72	0.18 0.18 0.18 0.18
2018	0.60	0.15 0.15 0.15 0.15
2017	0.42	0.10 0.10 0.10 0.12
2016	0.34	0.08 0.08 0.08 0.10

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	170	120	138	165
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	4,051	4,255	4,528	4,700

	2023	2024	2025	Q'26
Payables	4,623	4,654	4,762	4,862
ST’ Debt	—	—	—	—
Other	—	—	—	—
	4,730	4,759	4,886	4,969

Compound Annual Growth %

	10y	5y	3y
Sales	10.06%	7.41%	10.95%
Cash Flow	12.87%	5.49%	(6.78%)
Earnings	13.10%	4.07%	2.66%
Book Value	7.19%	5.24%	13.11%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	78	83	—	—	—
’25	77	78	81	79	315
’24	78	82	78	86	323
’23	64	73	78	74	290
’22	54	53	62	62	231
’21	59	48	56	52	215
’20	47	54	62	58	221

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(9)	20	—	—	—
’25	19	19	30	8	77
’24	21	9	17	16	63
’23	23	10	26	17	76
’22	39	23	33	1	95
’21	35	32	(11)	54	110
’20	22	22	(6)	20	59

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(14)	17	—	—	—
’25	18	17	29	6	70
’24	20	7	16	13	56
’23	22	8	26	15	71
’22	36	22	33	(1)	91
’21	33	30	(12)	53	104
’20	22	21	(7)	20	55

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.81	0.90	—	—	—
’25	0.74	0.81	0.84	0.89	3.27
’24	0.76	0.88	0.65	0.87	3.16
’23	0.61	0.70	0.83	0.65	2.79
’22	0.84	0.61	0.81	0.71	2.97
’21	1.00	0.56	0.73	0.58	2.88
’20	0.21	0.67	0.89	0.77	2.53

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	13.42	18.50	20.18	18.94	9.19	18.18	17.87	14.90	22.53	26.75	Analyst estimates 2026–2028 Powerpack
	High	22.25	23.65	27.10	23.93	22.98	24.73	26.00	26.99	40.32	37.13
People
People	Employees	885	911	976	994	983	986	916	832	834	826
	Revenue/emp, $m	0.15	0.15	0.18	0.20	0.22	0.22	0.25	0.35	0.39	0.38
Income, $m
Income, $m	Revenue	129	141	176	197	221	215	231	290	323	315
	Gross margin, %	94.66	93.52	90.04	86.60	92.65	96.13	91.58	71.29	68.89	71.55
	EBT	33	38	49	58	69	77	78	74	83	81
	EBT margin, %	25.54	27.29	27.98	29.37	31.50	36.01	33.69	25.37	25.70	25.78
	Net income	23	20	40	46	56	63	63	59	67	69
	Depreciation	5	7	6	6	9	12	11	10	10	10
Per share, $
Per share, $	Revenue	6.03	6.60	7.50	8.59	10.04	9.95	10.95	13.84	15.47	15.19
	Earnings	1.06	0.96	1.70	2.03	2.56	2.91	3.00	2.82	3.20	3.30
	Cash flow	1.11	1.81	1.92	1.51	2.67	5.10	4.49	3.60	3.02	3.69
	Capex	(0.14)	(0.20)	(0.16)	(0.21)	(0.15)	(0.27)	(0.18)	(0.21)	(0.33)	(0.31)
	Free cash flow	0.97	1.61	1.76	1.29	2.52	4.84	4.30	3.40	2.69	3.38
	Book value	11.65	12.42	14.48	15.30	17.72	18.46	16.48	19.28	21.76	24.23
	Shares, m	21	21	23	23	22	22	21	21	21	21
Valuation, ×
Valuation, ×	P/E	20.61	23.80	12.36	11.10	7.19	8.20	8.02	9.13	10.88	9.86
	P/S	3.66	3.46	2.80	2.64	1.84	2.40	2.21	1.86	2.25	2.14
	P/B	1.89	1.84	1.45	1.48	1.04	1.29	1.47	1.34	1.60	1.34
	EV/Sales	3.32	3.69	2.77	2.95	1.80	2.40	2.60	1.72	2.27	2.07
	EV/FCF	20.68	15.11	11.82	19.61	7.14	4.93	6.61	7.02	13.04	9.32
Cash, $m
Cash, $m	Operating cash flow	24	39	45	34	59	110	95	76	63	77
	Capex	(3)	(4)	(4)	(5)	(3)	(6)	(4)	(4)	(7)	(6)
	Free cash flow	21	34	41	30	55	104	91	71	56	70
Balance, $m
Balance, $m	Working capital	(512)	(311)	(200)	(207)	(734)	(1,074)	(824)	(679)	(505)	(358)
	Total debt	45	90	65	128	109	109	165	129	124	117
	Net debt	(44)	32	(6)	62	(10)	(1)	91	(41)	5	(22)
	Shareholders’ equity	249	265	339	350	390	398	348	404	455	503
Returns, %
Returns, %	ROA	0.92	0.77	1.30	1.34	1.45	1.41	1.31	1.15	1.26	1.26
	ROIC	10.04	8.14	9.86	8.75	11.44	12.14	11.09	12.65	11.30	10.55
	ROE	9.11	7.97	13.19	13.48	15.18	15.96	16.98	15.71	15.55	14.31

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ORRF Orrstown Financial Services Inc	$816.1M	9.3×	8.8×	+0.90% (above 0%: growing)	+8.91% (above 0%: growing)	−5.50% (below 0%: shrinking)	70.78%	0.00%	Compare
SPFI South Plains Financial, Inc.	$809.1M	11.4×	11.7×	+16.84% (above 0%: growing)	+10.00% (above 0%: growing)	+104.00% (above 0%: growing)	72.34%	0.00%	Compare
IBCP Independent Bank Corp.	$783.4M	10.2×	10.0×	+5.66% (above 0%: growing)	+12.35% (above 0%: growing)	−1.00% (below 0%: shrinking)	76.53%	0.00%
HTB HomeTrust Bancshares, Inc.	$776.1M	12.2×	12.9×	−4.58% (below 0%: shrinking)	−5.94% (below 0%: shrinking)	+417.30% (above 0%: growing)	77.45%	0.00%	Compare
FISI Financial Institutions, Inc.	$773.9M	9.6×	9.2×	+0.58% (above 0%: growing)	+24.71% (above 0%: growing)	+397.95% (above 0%: growing)	68.40%	0.00%	Compare
PGC Peapack-Gladstone Financial Corporation	$769.9M	14.8×	11.9×	+10.12% (above 0%: growing)	+97.78% (above 0%: growing)	+388.43% (above 0%: growing)	70.34%	0.00%	Compare
SMBC Southern Missouri Bancorp, Inc.	$769.7M	10.9×	10.3×	+2.83% (above 0%: growing)	+31.43% (above 0%: growing)	−50.54% (below 0%: shrinking)	64.61%	0.00%	Compare
ALRS Alerus Financial	$765.5M	29.0×	9.7×	+1.35% (above 0%: growing)	+3.80% (above 0%: growing)	+136.92% (above 0%: growing)	77.88%	0.00%	Compare
SHBI Shore Bancshares Inc	$752.2M	11.4×	10.1×	+0.40% (above 0%: growing)	+21.74% (above 0%: growing)	+185.78% (above 0%: growing)	71.57%	0.00%	Compare
Median of peers	$771.9M	11.4×	10.2×	+1.13%	+15.87%	+161.35%	71.18%	0.00%

All 323 Banks Regional stocks →

Independent Bank Corp. (IBCP) key facts

Concern: Independent Bank Corp.’s revenue for fiscal 2025 (year ended December 2025) was $315.4 million, down 2.40% from fiscal 2024.
Strength: Net income was $68.5 million, or $3.30 per share (basic), a net margin of 21.7%.
Independent Bank Corp. (IBCP) is a Banks Regional company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, IBCP traded at $35.60, a market capitalization of $783.4 million.
At that price the stock trades at 10.2× trailing-twelve-month earnings and 2.3× sales; its P/E is higher than 50% of its own readings over the past ten years.
Independent Bank Corp. pays an annual dividend of $1.10 per share, a yield of 3.09%, with a payout ratio of 32.0%.
Return on equity was 14.3% and debt-to-equity 0.32.
Its Piotroski F-score is 8 out of 9 for fiscal 2025.