Saturday 17 October 2026
Export INBK’s income statement to Excel — free account
First Internet Bancorp
INBK Financial Banks Regional
First Internet Bancorp’s revenue for fiscal 2025 (year ended December 2025) was $322.9 million, down 4.82% from fiscal 2024. In the quarter to June 2026, revenue fell 1.30%, EPS grew 1,250.0%, free cash flow grew 126.7% and total debt fell 6.67%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
25.66
0.28
−1.08%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 22.01 | 25.48 | 18.78 | 17.56 | 10.47 | 27.33 | 22.01 | 9.68 | 23.05 | 17.05 |
Analyst estimates 2026–2028 Powerpack |
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| High | 33.00 | 41.20 | 42.40 | 25.06 | 29.74 | 47.74 | 53.56 | 28.18 | 43.26 | 36.72 | |||||
| People | |||||||||||||||
| People | Employees | 192 | 206 | 201 | 231 | 257 | 286 | 319 | 290 | 326 | 355 | ||||
| Revenue/emp, $m | 0.38 | 0.46 | 0.62 | 0.71 | 0.67 | 0.58 | 0.56 | 0.92 | 1.04 | 0.91 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 73 | 95 | 124 | 164 | 173 | 167 | 178 | 266 | 339 | 323 | ||||
| Gross margin, % | 73.68 | 67.75 | 57.18 | 48.57 | 58.24 | 71.61 | 66.43 | 38.04 | 39.71 | 36.07 | |||||
| EBT | 18 | 23 | 24 | 27 | 34 | 57 | 40 | 5 | 28 | (51) | |||||
| EBT margin, % | 24.65 | 24.07 | 19.28 | 16.54 | 19.57 | 33.93 | 22.51 | 1.86 | 8.12 | (15.76) | |||||
| Net income | 12 | 15 | 22 | 25 | 29 | 48 | 36 | 8 | 25 | (35) | |||||
| Depreciation | 4 | 5 | 6 | 7 | 8 | 9 | 9 | 6 | 8 | 6 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 14.00 | 13.38 | 13.09 | 16.35 | 17.60 | 16.81 | 18.69 | 30.05 | 39.04 | 36.98 | ||||
| Earnings | 2.32 | 2.14 | 2.31 | 2.51 | 2.99 | 4.85 | 3.73 | 0.95 | 2.91 | (4.03) | |||||
| Cash flow | 5.08 | 3.46 | 3.09 | (4.34) | 1.33 | 5.53 | 8.68 | 1.32 | 1.50 | 0.40 | |||||
| Capex | (0.61) | (0.21) | (0.23) | (0.41) | (2.60) | (2.20) | (1.84) | (0.61) | (0.30) | (0.14) | |||||
| Free cash flow | 4.47 | 3.25 | 2.86 | (4.75) | (1.27) | 3.33 | 6.84 | 0.71 | 1.20 | 0.25 | |||||
| Book value | 29.54 | 31.48 | 30.43 | 30.36 | 33.63 | 38.35 | 38.29 | 41.05 | 44.20 | 41.21 | |||||
| Shares, m | 5 | 7 | 9 | 10 | 10 | 10 | 10 | 9 | 9 | 9 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 13.74 | 17.35 | 8.74 | 9.45 | 9.58 | 9.68 | 6.62 | 24.73 | 12.37 | 0.00 | ||||
| P/S | 2.27 | 2.81 | 1.56 | 1.45 | 1.63 | 2.80 | 1.31 | 0.80 | 0.92 | 0.56 | |||||
| P/B | 1.07 | 1.20 | 0.67 | 0.78 | 0.85 | 1.23 | 0.64 | 0.59 | 0.81 | 0.51 | |||||
| EV/Sales | 4.83 | 7.00 | 4.54 | 3.02 | 2.64 | 3.86 | 3.91 | 1.98 | 0.73 | 0.25 | |||||
| EV/FCF | 15.12 | 28.86 | 20.79 | (10.38) | (36.63) | 19.44 | 10.68 | 83.50 | 23.70 | 36.19 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 26 | 25 | 29 | (44) | 13 | 55 | 83 | 12 | 13 | 3 | ||||
| Capex | (3) | (2) | (2) | (4) | (26) | (22) | (18) | (5) | (3) | (1) | |||||
| Free cash flow | 23 | 23 | 27 | (48) | (12) | 33 | 65 | 6 | 10 | 2 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | (161) | 91 | 228 | 133 | 186 | 155 | 308 | 171 | (278) | (573) | ||||
| Total debt | 227 | 447 | 559 | 584 | 595 | 619 | 719 | 720 | 400 | 355 | |||||
| Net debt | 187 | 399 | 370 | 257 | 175 | 176 | 463 | 314 | (66) | (102) | |||||
| Shareholders’ equity | 154 | 224 | 289 | 305 | 331 | 380 | 365 | 363 | 384 | 360 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 0.77 | 0.66 | 0.69 | 0.66 | 0.71 | 1.14 | 0.81 | 0.17 | 0.46 | (0.62) | ||||
| ROIC | 3.30 | 2.30 | 2.50 | 3.02 | 4.45 | 6.35 | 3.03 | 0.46 | 5.42 | (12.33) | |||||
| ROE | 9.35 | 8.05 | 8.54 | 8.50 | 9.26 | 13.53 | 9.54 | 2.31 | 6.77 | (9.46) | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
First Internet Bancorp vs peers in Banks Regional (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| EFSI Eagle Financial Services Inc. | $247.6M | 13.2× | 12.4× | +10.87% (above 0%: growing) | −6.12% (below 0%: shrinking) | −435.67% (below 0%: shrinking) | 77.54% | 0.00% | Compare |
| PEBK Peoples Bancorp of North Carolina, Inc. | $241.2M | 11.8× | 11.8× | +0.90% (above 0%: growing) | +1.03% (above 0%: growing) | +10.02% (above 0%: growing) | 80.61% | 0.00% | Compare |
| CMTV Community Bancorp. | $234.3M | 12.6× | — | +8.55% (above 0%: growing) | +16.67% (above 0%: growing) | +17.48% (above 0%: growing) | 73.88% | 0.00% | Compare |
| INBK First Internet Bancorp | $226.6M | — (loss-making) | 11.4× | −1.30% (below 0%: shrinking) | +1,250.00% (above 0%: growing) | +126.71% (above 0%: growing) | 48.20% | 0.00% | |
| OPBK OP Bancorp | $221.8M | 7.6× | 7.5× | +5.31% (above 0%: growing) | +28.57% (above 0%: growing) | +3.10% (above 0%: growing) | 58.66% | 0.00% | Compare |
| MRBK Meridian Bank | $219.6M | 9.9× | 9.5× | −3.50% (below 0%: shrinking) | −2.00% (below 0%: shrinking) | +88.96% (above 0%: growing) | 64.49% | 0.00% | Compare |
| CFBK CF Bankshares Inc. | $217.9M | 11.5× | 8.1× | −0.68% (below 0%: shrinking) | +18.18% (above 0%: growing) | −35.84% (below 0%: shrinking) | 52.15% | 0.00% | Compare |
| OVBC Ohio Valley Banc Corp. | $217.2M | 15.3× | 11.0× | +11.63% (above 0%: growing) | −30.34% (below 0%: shrinking) | −91.53% (below 0%: shrinking) | 69.70% | 0.00% | Compare |
| FCAP First Capital, Inc. | $206.0M | 11.1× | — (loss-making) | +11.02% (above 0%: growing) | +26.55% (above 0%: growing) | +2.66% (above 0%: growing) | 80.17% | 0.00% | Compare |
| Median of peers | $220.7M | 11.6× | 10.2× | +6.93% | +8.85% | +2.88% | 71.79% | 0.00% |
First Internet Bancorp (INBK) key facts
- Concern: First Internet Bancorp’s revenue for fiscal 2025 (year ended December 2025) was $322.9 million, down 4.82% from fiscal 2024.
- First Internet Bancorp (INBK) is a Banks Regional company in the Financial sector, listed on Nasdaq.
- As of October 16, 2026, INBK traded at $25.66, a market capitalization of $226.6 million.
- First Internet Bancorp pays an annual dividend of $0.24 per share, a yield of 0.94%.
- Return on equity was −9.46% and debt-to-equity 0.95.
- Its Piotroski F-score is 3 out of 9 for fiscal 2025.