Saturday 17 October 2026
Export INDB’s income statement to Excel — free account
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. In the quarter to June 2026, revenue grew 31.4%, EPS grew 41.7%, free cash flow fell 34.6% and total debt fell 7.63%, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years, revenue growth for five.
79.88
2.80
+3.63%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
16.42 | 14.20 | 12.04 | 14.48 | 22.34 | 20.01 | 16.55 | 15.94 | 21.79 | 24.26 |
Piotroski F-Score |
5 | 6 | 6 | 6 | 5 | 4 | 7 | 6 | 7 | 7 |
P/S ratio |
2.88 | 2.78 | 3.13 | 5.05 | 5.46 | 4.73 | 4.86 | 4.71 | 5.27 | 5.64 |
P/FCF ratio |
14.10 | 13.02 | 11.04 | 9.51 | 17.21 | 41.78 | 13.41 | 14.60 | 16.92 | 22.42 |
P/Operating CF |
42.75 | 63.60 | 53.90 | 33.17 | 85.06 | 45.14 | 34.45 | 51.00 | 44.65 | 34.97 |
P/B ratio |
0.95 | 0.91 | 1.00 | 1.33 | 0.94 | 1.43 | 1.60 | 1.81 | 2.01 | 2.15 |
Price to Tangible BV |
1.44 | 1.37 | 1.52 | 2.04 | 1.42 | 2.07 | 2.33 | 2.42 | 2.70 | 2.93 |
EV/Sales |
2.92 | 3.27 | 4.21 | 4.73 | 1.44 | 2.55 | 5.12 | 4.72 | 5.12 | 5.25 |
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 |
13.63 | 13.94 | 13.98 | 8.51 | 3.95 | 20.28 | 13.31 | 13.73 | 14.08 | 18.58 |
EV/FCF |
14.30 | 15.29 | 14.82 | 8.90 | 4.55 | 22.54 | 14.14 | 14.65 | 16.44 | 20.84 |
Quick Ratio |
0.04 | 0.01 | 0.02 | 0.02 | 0.13 | 0.12 | 0.02 | 0.03 | 0.03 | 0.04 |
Current Ratio |
0.95 | 0.95 | 0.97 | 0.89 | 0.93 | 0.97 | 0.98 | 0.96 | 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 |
3.31% | 3.62% | 6.30% | 0.59% | 0.75% | 1.37% | 2.66% | 2.92% | 1.99% | 2.06% |
Debt/Equity |
0.23 | 0.23 | 0.42 | 0.04 | 0.05 | 0.11 | 0.18 | 0.24 | 0.17 | 0.18 |
Asset Turnover |
0.05 | 0.05 | 0.05 | 0.04 | 0.03 | 0.04 | 0.06 | 0.05 | 0.05 | 0.04 |
Operating CF/Net income |
1.22 | 1.20 | 1.16 | 1.60 | 1.57 | 0.53 | 1.31 | 1.17 | 1.50 | 1.21 |
Capex/Depreciation |
(0.28) | (0.50) | (0.44) | (0.48) | (0.76) | (0.24) | (0.66) | (0.57) | (1.19) | (0.70) |
| 6.25% | 6.52% | 8.28% | 8.94% | 5.13% | 7.10% | 11.88% | 12.06% | 9.64% | 9.37% | |
| 0.93% | 0.99% | 1.24% | 1.33% | 0.72% | 0.99% | 1.63% | 1.44% | 1.10% | 1.03% | |
ROIC |
5.22% | 4.48% | 5.07% | 8.39% | 13.33% | 16.79% | 8.23% | 9.67% | 9.68% | 10.02% |
Return on Tangible Assets |
(26.22%) | (35.38%) | (79.58%) | (17.06%) | (11.96%) | (50.54%) | (527.14%) | (53.05%) | (30.80%) | (27.71%) |
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 |
46.01% | 44.33% | 44.45% | 48.24% | 58.37% | 61.54% | 45.80% | 52.70% | 55.86% | 58.57% |
Intangible Assets out of Total Assets |
0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.04 | 0.05 | 0.03 | 0.03 | 0.03 |
Share Based Compensation of Revenue |
0.77% | 0.67% | 0.69% | 0.59% | 0.83% | 0.80% | 0.78% | 1.02% | 0.93% | 0.90% |
Graham Net Nets |
(0.66) | (0.66) | (0.72) | (0.59) | (0.60) | (0.36) | (0.25) | (0.35) | (0.33) | (0.33) |
Graham Number |
87.94 | 84.63 | 89.39 | 89.35 | 84.31 | 64.84 | 76.76 | 62.13 | 49.82 | 46.23 |
Earnings Yield |
6.09% | 7.04% | 8.30% | 6.91% | 4.48% | 5.00% | 6.04% | 6.27% | 4.59% | 4.12% |
Free Cash Flow Yield |
7.09% | 7.68% | 9.06% | 10.52% | 5.81% | 2.39% | 7.46% | 6.85% | 5.91% | 4.46% |
Revenue per Share |
25.36 | 23.08 | 20.83 | 16.34 | 14.94 | 15.44 | 17.14 | 14.94 | 13.20 | 12.46 |
Operating CF per Share |
5.44 | 5.41 | 6.27 | 9.08 | 5.45 | 1.94 | 6.60 | 5.14 | 4.80 | 3.52 |
Capex per Share |
(0.26) | (0.48) | (0.36) | (0.40) | (0.72) | (0.20) | (0.39) | (0.32) | (0.69) | (0.38) |
Free Cash Flow per Share |
5.18 | 4.93 | 5.91 | 8.68 | 4.74 | 1.75 | 6.21 | 4.82 | 4.11 | 3.14 |
Cash per Share |
16.82 | 5.27 | 5.19 | 7.69 | 64.36 | 39.07 | 4.67 | 9.13 | 7.86 | 10.98 |
Shareholders Equity per Share |
77.23 | 70.43 | 65.53 | 62.25 | 86.56 | 51.19 | 52.06 | 38.91 | 34.58 | 32.75 |
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 |
77.23 | 70.43 | 65.53 | 62.25 | 86.56 | 51.19 | 52.06 | 38.91 | 34.58 | 32.75 |
Free Cash Flow |
239.32 | 209.58 | 261.26 | 402.47 | 165.19 | 58.15 | 203.74 | 132.92 | 112.14 | 82.85 |
Working Capital |
(1,000.36) | (736.18) | (494.02) | (1,743.13) | (1,207.59) | (356.12) | (155.01) | (326.83) | (377.81) | (355.09) |
Capital Expenditures |
(11.84) | (20.34) | (15.73) | (18.73) | (25.03) | (6.49) | (12.79) | (8.92) | (18.77) | (10.05) |
Net Current Asset Value |
(2,220.74) | (1,810.65) | (2,080.59) | (2,271.59) | (1,695.51) | (864.57) | (694.66) | (677.81) | (624.10) | (610.61) |
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 |
0.01 | 0.02 | 0.02 | 0.02 | 0.05 | 0.01 | 0.02 | 0.02 | 0.05 | 0.03 |
Price to Operating Income |
11.18 | 10.95 | 9.15 | 10.78 | 14.39 | 15.47 | 11.17 | 11.61 | 13.49 | 15.80 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.19 | 0.21 | 0.19 | 0.20 | 0.17 | 0.23 | 0.16 | 0.16 | 0.17 | 0.18 |
Cash ROIC |
4.63% | 5.35% | 6.02% | 11.99% | 3.05% | 1.83% | 9.41% | 8.39% | 8.50% | 6.31% |
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 |
0.02 | 0.02 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 |
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 |
23,427.95 | 19,196.64 | 28,677.50 | 195,864.91 | 450,150.88 | 116,843.05 | 61,968.28 | 106,159.88 | 133,968.44 | 124,539.58 |
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 |
17,716.39 | 15,085.77 | 15,372.28 | 16,398.03 | 13,955.11 | 10,070.27 | 8,287.24 | 7,078.19 | 6,570.75 | 6,201.48 |
Average Assets |
22,143.23 | 19,360.47 | 19,320.77 | 19,858.79 | 16,813.85 | 12,299.74 | 10,123.38 | 8,466.81 | 7,895.70 | 7,459.42 |
Average Common Equity |
3,279.42 | 2,944.19 | 2,890.98 | 2,952.58 | 2,360.57 | 1,705.41 | 1,390.82 | 1,008.65 | 904.25 | 818.08 |
Columns are period end dates