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Friday 6 November 2026
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Independent Bank Corp.
INDB Financial Banks Regional
Independent Bank Corp.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 19.4% from fiscal 2024.
- Revenue
- +3.14%
- EPS
- +175.4%
- Free cash flow
- −34.6%
- Total debt
- −19.1%
Quarter to September 2026, against a year earlier
84.62
1.80
−2.08%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
24.26 | 21.79 | 15.94 | 16.55 | 20.01 | 22.34 | 14.48 | 12.04 | 14.20 | 16.42 |
Piotroski F-Score |
7 | 7 | 6 | 7 | 4 | 5 | 6 | 6 | 6 | 5 |
P/S ratio |
5.64 | 5.27 | 4.71 | 4.86 | 4.73 | 5.46 | 5.05 | 3.13 | 2.78 | 2.88 |
P/FCF ratio |
22.42 | 16.92 | 14.60 | 13.41 | 41.78 | 17.21 | 9.51 | 11.04 | 13.02 | 14.10 |
P/Operating CF |
34.97 | 44.65 | 51.00 | 34.45 | 45.14 | 85.06 | 33.17 | 53.90 | 63.60 | 42.75 |
P/B ratio |
2.15 | 2.01 | 1.81 | 1.60 | 1.43 | 0.94 | 1.33 | 1.00 | 0.91 | 0.95 |
Price to Tangible BV |
2.93 | 2.70 | 2.42 | 2.33 | 2.07 | 1.42 | 2.04 | 1.52 | 1.37 | 1.44 |
EV/Sales |
5.25 | 5.12 | 4.72 | 5.12 | 2.55 | 1.44 | 4.73 | 4.21 | 3.27 | 2.92 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
18.58 | 14.08 | 13.73 | 13.31 | 20.28 | 3.95 | 8.51 | 13.98 | 13.94 | 13.63 |
EV/FCF |
20.84 | 16.44 | 14.65 | 14.14 | 22.54 | 4.55 | 8.90 | 14.82 | 15.29 | 14.30 |
Quick Ratio |
0.04 | 0.03 | 0.03 | 0.02 | 0.12 | 0.13 | 0.02 | 0.02 | 0.01 | 0.04 |
Current Ratio |
0.95 | 0.95 | 0.96 | 0.98 | 0.97 | 0.93 | 0.89 | 0.97 | 0.95 | 0.95 |
Net Debt/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Debt/Assets |
2.06% | 1.99% | 2.92% | 2.66% | 1.37% | 0.75% | 0.59% | 6.30% | 3.62% | 3.31% |
Debt/Equity |
0.18 | 0.17 | 0.24 | 0.18 | 0.11 | 0.05 | 0.04 | 0.42 | 0.23 | 0.23 |
Asset Turnover |
0.04 | 0.05 | 0.05 | 0.06 | 0.04 | 0.03 | 0.04 | 0.05 | 0.05 | 0.05 |
Operating CF/Net income |
1.21 | 1.50 | 1.17 | 1.31 | 0.53 | 1.57 | 1.60 | 1.16 | 1.20 | 1.22 |
Capex/Depreciation |
(0.70) | (1.19) | (0.57) | (0.66) | (0.24) | (0.76) | (0.48) | (0.44) | (0.50) | (0.28) |
| 9.37% | 9.64% | 12.06% | 11.88% | 7.10% | 5.13% | 8.94% | 8.28% | 6.52% | 6.25% | |
| 1.03% | 1.10% | 1.44% | 1.63% | 0.99% | 0.72% | 1.33% | 1.24% | 0.99% | 0.93% | |
ROIC |
10.02% | 9.68% | 9.67% | 8.23% | 16.79% | 13.33% | 8.39% | 5.07% | 4.48% | 5.22% |
Return on Tangible Assets |
(27.71%) | (30.80%) | (53.05%) | (527.14%) | (50.54%) | (11.96%) | (17.06%) | (79.58%) | (35.38%) | (26.22%) |
Average Days of Receivables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
58.57% | 55.86% | 52.70% | 45.80% | 61.54% | 58.37% | 48.24% | 44.45% | 44.33% | 46.01% |
Intangible Assets out of Total Assets |
0.03 | 0.03 | 0.03 | 0.05 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
Share Based Compensation of Revenue |
0.90% | 0.93% | 1.02% | 0.78% | 0.80% | 0.83% | 0.59% | 0.69% | 0.67% | 0.77% |
Graham Net Nets |
(0.33) | (0.33) | (0.35) | (0.25) | (0.36) | (0.60) | (0.59) | (0.72) | (0.66) | (0.66) |
Graham Number |
46.23 | 49.82 | 62.13 | 76.76 | 64.84 | 84.31 | 89.35 | 89.39 | 84.63 | 87.94 |
Earnings Yield |
4.12% | 4.59% | 6.27% | 6.04% | 5.00% | 4.48% | 6.91% | 8.30% | 7.04% | 6.09% |
Free Cash Flow Yield |
4.46% | 5.91% | 6.85% | 7.46% | 2.39% | 5.81% | 10.52% | 9.06% | 7.68% | 7.09% |
Revenue per Share |
12.46 | 13.20 | 14.94 | 17.14 | 15.44 | 14.94 | 16.34 | 20.83 | 23.08 | 25.36 |
Operating CF per Share |
3.52 | 4.80 | 5.14 | 6.60 | 1.94 | 5.45 | 9.08 | 6.27 | 5.41 | 5.44 |
Capex per Share |
(0.38) | (0.69) | (0.32) | (0.39) | (0.20) | (0.72) | (0.40) | (0.36) | (0.48) | (0.26) |
Free Cash Flow per Share |
3.14 | 4.11 | 4.82 | 6.21 | 1.75 | 4.74 | 8.68 | 5.91 | 4.93 | 5.18 |
Cash per Share |
10.98 | 7.86 | 9.13 | 4.67 | 39.07 | 64.36 | 7.69 | 5.19 | 5.27 | 16.82 |
Shareholders Equity per Share |
32.75 | 34.58 | 38.91 | 52.06 | 51.19 | 86.56 | 62.25 | 65.53 | 70.43 | 77.23 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
32.75 | 34.58 | 38.91 | 52.06 | 51.19 | 86.56 | 62.25 | 65.53 | 70.43 | 77.23 |
Free Cash Flow |
82.85 | 112.14 | 132.92 | 203.74 | 58.15 | 165.19 | 402.47 | 261.26 | 209.58 | 239.32 |
Working Capital |
(355.09) | (377.81) | (326.83) | (155.01) | (356.12) | (1,207.59) | (1,743.13) | (494.02) | (736.18) | (1,000.36) |
Capital Expenditures |
(10.05) | (18.77) | (8.92) | (12.79) | (6.49) | (25.03) | (18.73) | (15.73) | (20.34) | (11.84) |
Net Current Asset Value |
(610.61) | (624.10) | (677.81) | (694.66) | (864.57) | (1,695.51) | (2,271.59) | (2,080.59) | (1,810.65) | (2,220.74) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.03 | 0.05 | 0.02 | 0.02 | 0.01 | 0.05 | 0.02 | 0.02 | 0.02 | 0.01 |
Price to Operating Income |
15.80 | 13.49 | 11.61 | 11.17 | 15.47 | 14.39 | 10.78 | 9.15 | 10.95 | 11.18 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.18 | 0.17 | 0.16 | 0.16 | 0.23 | 0.17 | 0.20 | 0.19 | 0.21 | 0.19 |
Cash ROIC |
6.31% | 8.50% | 8.39% | 9.41% | 1.83% | 3.05% | 11.99% | 6.02% | 5.35% | 4.63% |
Accounts Receivable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Accounts Payable Turnover |
0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.02 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
124,539.58 | 133,968.44 | 106,159.88 | 61,968.28 | 116,843.05 | 450,150.88 | 195,864.91 | 28,677.50 | 19,196.64 | 23,427.95 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Payables |
6,201.48 | 6,570.75 | 7,078.19 | 8,287.24 | 10,070.27 | 13,955.11 | 16,398.03 | 15,372.28 | 15,085.77 | 17,716.39 |
Average Assets |
7,459.42 | 7,895.70 | 8,466.81 | 10,123.38 | 12,299.74 | 16,813.85 | 19,858.79 | 19,320.77 | 19,360.47 | 22,143.23 |
Average Common Equity |
818.08 | 904.25 | 1,008.65 | 1,390.82 | 1,705.41 | 2,360.57 | 2,952.58 | 2,890.98 | 2,944.19 | 3,279.42 |
Columns are period end dates · fundamentals updated 2 Nov 2026