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Independent Bank (INDB) Financials

Independent Bank logo
$60.78 -0.40 (-0.65%)
Closing price 05/23/2025 04:00 PM Eastern
Extended Trading
$60.80 +0.02 (+0.04%)
As of 05/23/2025 04:04 PM Eastern
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Annual Income Statements for Independent Bank

Annual Income Statements for Independent Bank

This table shows Independent Bank's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders		 192 240 264 121 121 165 122 87 77 65
Consolidated Net Income / (Loss)		 192 240 264 121 121 165 122 87 77 65
Net Income / (Loss) Continuing Operations		 192 240 264 121 121 165 122 87 77 65
Total Pre-Tax Income 		247 315 348 157 153 218 156 135 112 92
Total Revenue		 690 731 728 507 479 508 387 342 310 291
Net Interest Income / (Expense)		 562 607 613 402 368 393 298 259 228 215
Total Interest Income		 853 796 643 415 402 447 324 277 247 236
Loans and Leases Interest Income		 790 730 578 382 371 412 294 253 224 215
Investment Securities Interest Income		 57 60 50 30 30 32 27 23 21 20
Federal Funds Sold and Securities Borrowed Interest Income		 5.67 5.19 14 2.49 0.85 2.21 2.68 1.42 1.19 0.35
Total Interest Expense		 291 189 30 14 34 54 26 18 19 21
Deposits Interest Expense		 247 145 25 8.33 27 41 20 13 11 12
Long-Term Debt Interest Expense		 44 44 4.94 5.39 7.01 13 5.54 5.63 7.65 9.04
Total Non-Interest Income		 128 125 115 106 111 115 89 83 82 76
Service Charges on Deposit Accounts		 26 23 23 17 15 20 18 18 19 19
Other Service Charges		 48 47 43 44 50 55 36 33 32 28
Net Realized & Unrealized Capital Gains on Investments		 2.57 5.62 4.22 3.52 11 6.91 3.84 3.84 6.16 4.65
Investment Banking Income		 43 40 37 35 29 29 26 24 22 21
Other Non-Interest Income		 8.09 7.87 7.69 6.43 5.36 5.01 4.06 4.13 4.09 3.69
Provision for Credit Losses		 36 23 6.50 18 53 6.00 4.78 2.95 6.08 1.50
Total Non-Interest Expense		 406 393 374 333 274 284 226 204 192 197
Salaries and Employee Benefits		 234 222 205 173 152 149 124 117 109 105
Net Occupancy & Equipment Expense		 62 60 59 43 43 40 32 30 28 28
Property & Liability Insurance Claims		 11 12 6.95 3.98 2.52 1.39 2.77 3.07 3.38 3.98
Other Operating Expenses		 92 91 88 66 64 56 48 44 41 45
Amortization Expense		 5.91 6.88 7.66 5.72 6.14 6.38 2.34 2.71 - -
Restructuring Charge		 1.90 0.00 7.10 41 0.00 26 11 3.39 5.46 11
Income Tax Expense		 55 76 84 36 32 53 34 47 35 27
Basic Earnings per Share		 $4.52 $5.42 $5.69 $3.47 $3.64 $5.03 $4.41 $3.19 $2.90 $2.51
Weighted Average Basic Shares Outstanding		 42.50M 44.18M 46.37M 34.87M 33.26M 32.81M 27.59M 27.29M 26.40M 25.89M
Diluted Earnings per Share		 $4.52 $5.42 $5.69 $3.47 $3.64 $5.03 $4.40 $3.19 $2.90 $2.50
Weighted Average Diluted Shares Outstanding		 42.51M 44.19M 46.39M 34.89M 33.29M 32.86M 27.65M 27.37M 26.46M 25.96M
Weighted Average Basic & Diluted Shares Outstanding		 42.61M 84.89M 90.13M 94.80M 66.04M 32.80M 27.60M 27.30M 26.40M 25.90M
Cash Dividends to Common per Share		 $2.28 $2.20 $2.08 $1.92 $1.84 $0.00 $1.52 - - $1.04

Quarterly Income Statements for Independent Bank

This table shows Independent Bank's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 44 50 43 51 48 55 61 63 61 77 72
Consolidated Net Income / (Loss)		 44 50 43 51 48 55 61 63 61 77 72
Net Income / (Loss) Continuing Operations		 44 50 43 51 48 55 61 63 61 77 72
Total Pre-Tax Income 		57 63 55 66 62 71 80 83 81 100 95
Total Revenue		 178 177 175 170 167 177 183 183 187 201 191
Net Interest Income / (Expense)		 146 145 142 138 137 145 150 153 159 168 163
Total Interest Income		 212 216 217 212 208 207 203 199 187 184 170
Loans and Leases Interest Income		 195 198 201 197 193 192 187 180 171 164 150
Investment Securities Interest Income		 15 15 14 14 14 15 15 16 15 16 13
Federal Funds Sold and Securities Borrowed Interest Income		 1.44 3.15 1.64 0.40 0.48 0.30 0.91 3.31 0.67 4.16 6.52
Total Interest Expense		 66 72 75 74 71 62 53 46 28 16 7.37
Deposits Interest Expense		 59 64 67 61 54 49 41 32 23 14 6.11
Long-Term Debt Interest Expense		 6.98 7.47 7.84 12 16 13 12 14 5.26 1.45 1.26
Total Non-Interest Income		 33 32 34 32 30 32 34 31 28 32 28
Service Charges on Deposit Accounts		 7.05 7.12 6.78 6.33 6.23 6.13 5.94 5.51 5.92 5.79 6.26
Other Service Charges		 11 12 13 13 12 13 13 12 10 12 11
Net Realized & Unrealized Capital Gains on Investments		 1.04 0.63 1.13 0.47 0.34 0.98 2.77 1.45 0.42 2.11 0.95
Investment Banking Income		 11 11 11 11 9.94 9.82 10 10 9.78 10 8.44
Other Non-Interest Income		 2.07 2.15 2.01 2.00 1.93 2.09 1.98 1.94 1.85 2.14 1.88
Provision for Credit Losses		 15 7.50 20 4.25 5.00 5.50 5.50 5.00 7.25 5.50 3.00
Total Non-Interest Expense		 106 106 100 100 100 101 98 96 99 95 93
Salaries and Employee Benefits		 62 59 60 57 57 56 55 54 57 54 53
Net Occupancy & Equipment Expense		 17 16 15 15 16 15 15 15 15 15 15
Property & Liability Insurance Claims		 2.99 2.59 2.63 2.69 2.98 3.94 2.73 2.67 2.61 1.73 1.68
Other Operating Expenses		 22 27 21 22 22 25 24 21 22 23 22
Amortization Expense		 1.34 1.42 1.46 1.47 1.56 1.64 1.71 1.72 1.82 1.85 1.90
Restructuring Charge		 1.16 - - - - - - - - - 0.00
Income Tax Expense		 13 13 12 15 15 16 19 20 20 23 23
Basic Earnings per Share		 $1.04 $1.18 $1.01 $1.21 $1.12 $1.26 $1.38 $1.42 $1.36 $1.68 $1.57
Weighted Average Basic Shares Outstanding		 42.55M 42.50M 42.48M 42.47M 42.55M 44.18M 44.14M 44.13M 45.00M 46.37M 45.84M
Diluted Earnings per Share		 $1.04 $1.18 $1.01 $1.21 $1.12 $1.26 $1.38 $1.42 $1.36 $1.68 $1.57
Weighted Average Diluted Shares Outstanding		 42.57M 42.51M 42.49M 42.47M 42.57M 44.19M 44.15M 44.14M 45.02M 46.39M 45.86M
Weighted Average Basic & Diluted Shares Outstanding		 42.62M 42.61M 42.49M 42.48M 42.47M 84.89M 43.85M 44.14M - 90.13M 45.64M
Cash Dividends to Common per Share		 $0.59 $0.57 $0.57 $0.57 $0.57 $0.55 $0.55 $0.55 $0.55 $1.06 $0.51

Annual Cash Flow Statements for Independent Bank

This table details how cash moves in and out of Independent Bank's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Change in Cash & Equivalents		 -4.44 -129 -1,888 944 1,146 -99 37 -76 13 98
Net Cash From Operating Activities		 230 277 421 190 65 217 142 131 93 90
Net Cash From Continuing Operating Activities		 230 277 421 190 65 217 142 131 93 90
Net Income / (Loss) Continuing Operations		 192 240 264 121 121 165 122 87 77 65
Consolidated Net Income / (Loss)		 192 240 264 121 121 165 122 87 77 65
Provision For Loan Losses		 36 23 6.50 18 53 6.00 4.78 2.95 6.08 1.50
Depreciation Expense		 41 36 39 33 27 19 16 16 14 12
Amortization Expense		 -1.74 -1.86 -7.12 -25 -7.13 2.69 0.37 -0.08 - -
Non-Cash Adjustments to Reconcile Net Income		 -27 -18 -23 -25 -35 -15 -6.26 8.61 -2.12 8.86
Changes in Operating Assets and Liabilities, net		 -10 -1.77 142 68 -94 39 5.71 17 -1.62 1.91
Net Cash From Investing Activities		 -33 -212 -1,000 -63 -488 20 -388 -317 -239 -206
Net Cash From Continuing Investing Activities		 -33 -212 -1,000 -63 -488 20 -388 -317 -239 -206
Purchase of Property, Leasehold Improvements and Equipment		 -20 -16 -22 -25 -13 -17 -11 -25 -10 -10
Purchase of Investment Securities		 -399 -410 -1,296 -1,209 -859 -111 -552 -442 -406 -380
Sale of Property, Leasehold Improvements and Equipment		 0.09 0.11 3.34 0.17 6.10 3.80 2.19 6.31 0.35 1.23
Sale and/or Maturity of Investments		 386 214 314 1,171 377 144 171 144 177 184
Net Cash From Financing Activities		 -201 -194 -1,308 817 1,569 -336 283 110 159 214
Net Cash From Continuing Financing Activities		 -201 -194 -1,308 817 1,569 -336 283 110 159 214
Net Change in Deposits		 440 -1,014 -1,037 1,484 1,846 -206 279 158 246 348
Issuance of Common Equity		 -0.82 -1.14 -1.08 -1.25 -1.19 -1.46 - - - -
Repayment of Debt		 -50 0.00 -14 -605 -77 -110 -24 0.00 -66 -39
Repurchase of Common Equity		 -31 -189 -140 0.00 -95 0.00 -1.37 -1.42 -0.70 -0.66
Payment of Dividends		 -96 -98 -94 -63 -61 -53 -40 -34 -30 -26
Other Financing Activities, Net		 -464 1,108 -23 1.97 -43 -140 70 -12 8.96 -69
Cash Interest Paid		 292 183 26 14 37 50 25 19 19 21
Cash Income Taxes Paid		 51 44 44 23 48 40 28 33 33 12

Quarterly Cash Flow Statements for Independent Bank

This table details how cash moves in and out of Independent Bank's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 497 -205 111 93 -3.01 4.20 -88 -194 150 -583 -540
Net Cash From Operating Activities		 13 43 70 66 51 54 81 91 51 115 133
Net Cash From Continuing Operating Activities		 13 43 70 66 51 54 81 91 51 115 133
Net Income / (Loss) Continuing Operations		 44 50 43 51 48 55 61 63 61 77 72
Consolidated Net Income / (Loss)		 44 50 43 51 48 55 61 63 61 77 72
Provision For Loan Losses		 15 7.50 20 4.25 5.00 5.50 5.50 5.00 7.25 5.50 3.00
Depreciation Expense		 10 9.39 10 11 10 8.53 9.19 8.75 9.63 9.27 9.57
Amortization Expense		 -0.34 -0.67 -0.47 -0.33 -0.27 -0.66 -0.38 -0.29 -0.53 -0.72 -0.74
Non-Cash Adjustments to Reconcile Net Income		 -3.63 -19 -3.46 -2.01 -2.96 -3.50 -6.37 -4.66 -3.70 -7.88 -5.07
Changes in Operating Assets and Liabilities, net		 -52 -4.34 1.41 1.51 -8.69 -11 13 19 -22 32 55
Net Cash From Investing Activities		 -20 -128 63 16 16 19 -56 -146 -29 -216 -290
Net Cash From Continuing Investing Activities		 -20 -128 63 16 16 19 -56 -146 -29 -216 -290
Purchase of Property, Leasehold Improvements and Equipment		 -2.03 -6.38 -5.86 -3.73 -4.46 -6.30 -2.90 -2.43 -4.22 -4.05 -1.87
Purchase of Investment Securities		 -104 -254 -18 -66 -62 -28 -97 -217 -68 -292 -349
Sale of Property, Leasehold Improvements and Equipment		 0.00 0.06 - 0.01 0.02 0.01 0.05 - 0.05 2.12 1.23
Sale and/or Maturity of Investments		 86 132 86 86 82 53 43 74 44 78 59
Net Cash From Financing Activities		 504 -120 -22 11 -70 -69 -113 -139 127 -483 -383
Net Cash From Continuing Financing Activities		 504 -120 -22 11 -70 -69 -113 -139 127 -483 -383
Net Change in Deposits		 370 -135 31 366 178 -194 -189 -24 -607 -460 -300
Issuance of Debt		 296 - - - - - - - - - -
Repayment of Debt		 0.00 - - - -50 - - - 0.00 - -
Repurchase of Common Equity		 0.00 - - - -31 -69 - - -120 - -35
Payment of Dividends		 -24 -24 -24 -24 -24 -24 -24 -24 -25 -23 -24
Other Financing Activities, Net		 -139 40 -29 -331 -143 220 100 -90 879 1.68 -24

Annual Balance Sheets for Independent Bank

This table presents Independent Bank's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Assets		 19,374 19,347 19,294 20,423 13,204 8,852 8,082 7,709 7,209
Cash and Due from Banks		 188 179 176 142 169 128 103 97 85
Interest Bearing Deposits at Other Banks		 32 45 177 2,099 1,127 123 110 192 191
Trading Account Securities		 2,711 2,931 3,132 2,690 1,162 1,075 947 852 845
Loans and Leases, Net of Allowance		 -170 -142 -152 -147 9,258 -64 6,295 5,938 5,492
Allowance for Loan and Lease Losses		 170 142 152 147 113 64 61 62 56
Loans Held for Sale		 7.27 6.37 13,776 13,440 58 6.43 4.77 6.14 5.99
Premises and Equipment, Net		 193 193 197 196 116 98 95 78 76
Goodwill		 985 985 985 985 506 256 232 222 201
Intangible Assets		 12 18 25 33 23 15 9.34 9.85 12
Other Assets		 15,244 14,990 826 839 762 7,215 287 315 302
Total Liabilities & Shareholders' Equity		 19,374 19,347 19,294 20,423 13,204 8,852 8,082 7,709 7,209
Total Liabilities		 16,380 16,452 16,407 17,405 11,502 7,778 7,138 6,845 6,438
Interest Bearing Deposits		 15,306 14,866 15,879 16,917 10,993 7,427 6,729 6,412 5,991
Long-Term Debt		 701 1,218 113 152 244 259 161 159 210
Other Long-Term Liabilities		 373 368 415 336 327 92 85 97 237
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2,993 2,895 2,887 3,018 1,703 1,073 944 865 771
Total Preferred & Common Equity		 2,993 2,895 2,887 3,018 1,703 1,073 944 865 771
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 2,993 2,895 2,887 3,018 1,703 1,073 944 865 771
Common Stock		 1,907 1,929 2,112 2,246 943 523 475 448 402
Retained Earnings		 1,173 1,077 934 767 716 547 466 414 368
Accumulated Other Comprehensive Income / (Loss)		 -90 -115 -163 2.18 41 -1.17 -1.83 -1.34 -2.45
Other Equity Adjustments		 3.38 3.30 3.23 3.15 3.20 4.72 4.59 4.28 3.96

Quarterly Balance Sheets for Independent Bank

This table presents Independent Bank's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q3 2022
Period end date 3/31/2025 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 9/30/2022
Total Assets		 19,888 19,408 19,411 19,325 19,368 19,401 19,703
Cash and Due from Banks		 215 199 193 165 177 182 173
Interest Bearing Deposits at Other Banks		 502 225 121 56 43 126 764
Trading Account Securities		 2,720 2,766 2,766 2,846 2,974 3,023 3,152
Loans and Leases, Net of Allowance		 -144 -164 -151 -147 -141 -141 -147
Allowance for Loan and Lease Losses		 144 164 151 147 141 141 147
Loans Held for Sale		 8.52 16 18 11 4.00 6.58 -
Premises and Equipment, Net		 190 192 191 193 192 194 198
Goodwill		 985 985 985 985 985 985 985
Intangible Assets		 11 14 15 17 20 22 27
Other Assets		 15,257 15,011 15,122 15,052 14,974 14,863 14,404
Total Liabilities & Shareholders' Equity		 19,888 19,408 19,411 19,325 19,368 19,401 19,703
Total Liabilities		 16,855 16,431 16,492 16,440 16,483 16,546 16,886
Interest Bearing Deposits		 15,676 15,441 15,410 15,043 15,060 15,248 16,339
Long-Term Debt		 860 663 693 1,025 1,000 901 113
Other Long-Term Liabilities		 319 327 389 372 423 397 434
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 3,033 2,977 2,919 2,884 2,885 2,855 2,817
Total Preferred & Common Equity		 3,033 2,977 2,919 2,884 2,885 2,855 2,817
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 3,033 2,977 2,919 2,884 2,885 2,855 2,817
Common Stock		 1,908 1,904 1,902 1,899 1,997 1,995 2,111
Retained Earnings		 1,192 1,147 1,128 1,101 1,046 1,010 883
Accumulated Other Comprehensive Income / (Loss)		 -70 -77 -114 -119 -161 -153 -179
Other Equity Adjustments		 3.52 3.40 3.35 3.40 3.34 3.29 3.24

Annual Metrics And Ratios for Independent Bank

This table displays calculated financial ratios and metrics derived from Independent Bank's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -5.66% 0.44% 43.46% 5.89% -5.76% 31.49% 13.11% 10.18% 6.69% 9.34%
EBITDA Growth		 -18.06% -7.92% 130.36% -4.77% -28.00% 39.74% 14.44% 18.82% 21.00% 9.01%
EBIT Growth		 -21.58% -9.38% 121.96% 2.51% -29.93% 39.88% 15.89% 20.05% 21.59% 10.07%
NOPAT Growth		 -19.80% -9.22% 118.04% -0.14% -26.64% 35.81% 39.47% 13.77% 17.99% 8.55%
Net Income Growth		 -19.80% -9.22% 118.04% -0.14% -26.64% 35.81% 39.47% 13.77% 17.99% 8.55%
EPS Growth		 -16.61% -4.75% 63.98% -4.67% -27.63% 14.32% 37.93% 10.00% 16.00% 0.40%
Operating Cash Flow Growth		 -16.99% -34.24% 121.43% 194.29% -70.15% 52.66% 8.35% 40.92% 3.75% -0.84%
Free Cash Flow Firm Growth		 169.93% -301.14% 139.39% -111.17% 196.78% -18,011.08% 187.06% 113.96% -111.47% -245.13%
Invested Capital Growth		 -10.19% 37.12% -5.38% 62.89% -83.36% 778.12% 5.10% 5.61% 22.29% 15.56%
Revenue Q/Q Growth		 -0.05% -3.11% 7.21% 6.91% 0.48% 2.59% 3.77% 2.78% 1.91% 2.26%
EBITDA Q/Q Growth		 -2.43% -7.92% 40.45% -24.73% -19.35% 28.35% 0.73% 9.20% -1.71% 5.66%
EBIT Q/Q Growth		 -3.13% -8.53% 41.16% -22.81% -18.42% 23.50% 0.78% 9.88% -2.48% 6.40%
NOPAT Q/Q Growth		 -2.42% -8.50% 7.09% -40.39% -35.32% -6.47% 6.92% 5.93% -2.88% 5.66%
Net Income Q/Q Growth		 -2.42% -8.50% 39.97% -21.40% -14.96% 18.70% 6.92% 5.93% -2.88% 5.66%
EPS Q/Q Growth		 -1.74% -7.19% 47.03% -25.38% -18.20% 18.35% 6.28% 5.63% -3.33% 3.31%
Operating Cash Flow Q/Q Growth		 -4.41% -18.25% 24.14% -9.68% -28.27% 23.53% -3.03% -7.52% 38.16% 5.32%
Free Cash Flow Firm Q/Q Growth		 38.26% -26.04% 156.35% -500.54% 5,477.81% -1,938.28% 161.87% 160.00% -292.18% 43.69%
Invested Capital Q/Q Growth		 1.48% 5.86% 2.37% 65.75% -1.96% 492.28% 2.63% 16.05% 22.86% 0.99%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 41.50% 47.79% 52.13% 32.46% 36.10% 47.25% 44.46% 43.94% 40.75% 35.93%
EBIT Margin		 35.83% 43.10% 47.77% 30.88% 31.90% 42.90% 40.33% 39.36% 36.12% 31.70%
Profit (Net Income) Margin		 27.85% 32.76% 36.24% 23.85% 25.29% 32.49% 31.45% 25.51% 24.70% 22.34%
Tax Burden Percent		 77.73% 76.00% 75.86% 77.22% 79.28% 75.73% 78.00% 64.81% 68.39% 70.47%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 22.27% 24.00% 24.14% 22.78% 20.72% 24.27% 22.00% 35.19% 31.61% 29.53%
Return on Invested Capital (ROIC)		 4.92% 6.73% 8.55% 4.73% 1.78% 2.54% 9.36% 7.07% 7.03% 7.10%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.92% 6.73% 8.55% 4.73% 1.78% 2.54% 9.36% 7.07% 7.03% 7.10%
Return on Net Nonoperating Assets (RNNOA)		 1.60% 1.55% 0.38% 0.40% 12.46% 28.24% 2.70% 2.58% 2.34% 2.10%
Return on Equity (ROE)		 6.52% 8.28% 8.94% 5.13% 14.23% 30.77% 12.06% 9.64% 9.37% 9.20%
Cash Return on Invested Capital (CROIC)		 15.66% -24.57% 14.08% -43.12% 144.71% -156.57% 4.38% 1.61% -13.03% -7.34%
Operating Return on Assets (OROA)		 1.28% 1.63% 1.75% 0.93% 1.24% 2.15% 1.84% 1.70% 1.50% 1.36%
Return on Assets (ROA)		 0.99% 1.24% 1.33% 0.72% 0.99% 1.63% 1.44% 1.10% 1.03% 0.96%
Return on Common Equity (ROCE)		 6.52% 8.28% 8.94% 5.13% 14.23% 30.77% 12.06% 9.64% 9.37% 9.20%
Return on Equity Simple (ROE_SIMPLE)		 6.42% 8.27% 9.14% 4.01% 7.12% 0.00% 11.33% 9.24% 8.86% 8.42%
Net Operating Profit after Tax (NOPAT)		 192 240 264 121 121 165 122 87 77 65
NOPAT Margin		 27.85% 32.76% 36.24% 23.85% 25.29% 32.49% 31.45% 25.51% 24.70% 22.34%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 42.87% 38.65% 36.25% 42.52% 40.86% 38.22% 41.77% 44.25% 45.66% 47.23%
Operating Expenses to Revenue		 58.92% 53.72% 51.33% 65.53% 57.15% 55.92% 58.44% 59.78% 61.92% 67.79%
Earnings before Interest and Taxes (EBIT)		 247 315 348 157 153 218 156 135 112 92
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 286 349 379 165 173 240 172 150 126 104
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.87 1.99 2.17 1.63 2.64 1.16 1.53 1.69 1.74 1.26
Price to Tangible Book Value (P/TBV)		 2.80 3.05 3.34 2.46 3.82 1.70 2.05 2.27 2.38 1.73
Price to Revenue (P/Rev)		 8.10 7.89 8.60 9.70 9.37 3.91 4.25 4.66 4.85 3.33
Price to Earnings (P/E)		 29.08 24.08 23.73 40.68 37.04 12.04 13.51 18.27 19.65 14.91
Dividend Yield		 3.55% 3.48% 2.67% 2.57% 2.82% 2.44% 2.55% 2.76% 2.03% 2.81%
Earnings Yield		 3.44% 4.15% 4.21% 2.46% 2.70% 8.30% 7.40% 5.47% 5.09% 6.71%
Enterprise Value to Invested Capital (EV/IC)		 1.64 1.64 2.01 0.89 1.76 0.18 1.24 1.34 1.29 0.92
Enterprise Value to Revenue (EV/Rev)		 8.80 9.25 8.27 5.58 7.17 4.21 4.27 4.99 5.00 3.10
Enterprise Value to EBITDA (EV/EBITDA)		 21.19 19.35 15.87 17.20 19.86 8.91 9.61 11.34 12.28 8.64
Enterprise Value to EBIT (EV/EBIT)		 24.55 21.45 17.31 18.08 22.48 9.82 10.59 12.67 13.85 9.79
Enterprise Value to NOPAT (EV/NOPAT)		 31.59 28.23 22.82 23.42 28.35 12.97 13.58 19.54 20.26 13.90
Enterprise Value to Operating Cash Flow (EV/OCF)		 26.39 24.41 14.29 14.89 53.14 9.89 11.64 13.02 16.71 10.08
Enterprise Value to Free Cash Flow (EV/FCFF)		 9.93 0.00 13.85 0.00 0.35 0.00 29.00 85.90 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.23 0.42 0.04 0.05 0.14 0.00 0.24 0.34 0.39 0.27
Long-Term Debt to Equity		 0.23 0.42 0.04 0.05 0.14 0.00 0.24 0.17 0.18 0.27
Financial Leverage		 0.33 0.23 0.05 0.08 7.01 11.14 0.29 0.36 0.33 0.30
Leverage Ratio		 6.58 6.68 6.73 7.12 14.45 18.86 8.39 8.73 9.12 9.61
Compound Leverage Factor		 6.58 6.68 6.73 7.12 14.45 18.86 8.39 8.73 9.12 9.61
Debt to Total Capital		 18.98% 29.62% 3.78% 4.81% 12.53% 100.00% 19.42% 25.54% 27.95% 21.39%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12.84% 14.74% 0.00%
Long-Term Debt to Total Capital		 18.98% 29.62% 3.78% 4.81% 12.53% 100.00% 19.42% 12.70% 13.21% 21.39%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 81.02% 70.38% 96.22% 95.19% 87.48% 0.00% 80.58% 74.46% 72.05% 78.61%
Debt to EBITDA		 2.45 3.49 0.30 0.93 1.41 1.26 1.50 2.15 2.65 2.01
Net Debt to EBITDA		 1.68 2.85 -0.63 -12.68 -6.09 0.63 0.05 0.74 0.37 -0.63
Long-Term Debt to EBITDA		 2.45 3.49 0.30 0.93 1.41 1.26 1.50 1.07 1.25 2.01
Debt to NOPAT		 3.65 5.09 0.43 1.26 2.01 1.84 2.13 3.71 4.38 3.23
Net Debt to NOPAT		 2.51 4.15 -0.91 -17.26 -8.69 0.92 0.07 1.27 0.61 -1.01
Long-Term Debt to NOPAT		 3.65 5.09 0.43 1.26 2.01 1.84 2.13 1.85 2.07 3.23
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% -0.01% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 611 -874 435 -1,103 9,873 -10,201 57 20 -142 -67
Operating Cash Flow to CapEx		 1,130.22% 1,760.82% 2,249.04% 759.94% 995.78% 1,693.30% 1,590.64% 697.29% 924.37% 967.51%
Free Cash Flow to Firm to Interest Expense		 2.10 -4.62 14.69 -80.43 287.49 -189.33 2.23 1.08 -7.56 -3.26
Operating Cash Flow to Interest Expense		 0.79 1.46 14.23 13.87 1.88 4.02 5.55 7.14 4.94 4.34
Operating Cash Flow Less CapEx to Interest Expense		 0.72 1.38 13.60 12.04 1.69 3.78 5.21 6.12 4.41 3.89
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.03 0.04 0.05 0.05 0.04 0.04 0.04
Fixed Asset Turnover		 3.57 3.75 3.71 3.25 3.99 4.60 4.02 3.95 4.03 4.16
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 3,694 4,114 3,000 3,171 1,947 11,698 1,332 1,268 1,200 981
Invested Capital Turnover		 0.18 0.21 0.24 0.20 0.07 0.08 0.30 0.28 0.28 0.32
Increase / (Decrease) in Invested Capital		 -419 1,114 -171 1,224 -9,752 10,366 65 67 219 132
Enterprise Value (EV)		 6,067 6,761 6,020 2,833 3,435 2,142 1,651 1,704 1,553 903
Market Capitalization		 5,586 5,767 6,260 4,922 4,488 1,989 1,643 1,594 1,506 969
Book Value per Share		 $34.40 $31.72 $35.91 $45.79 $24.77 $0.00 $38.96 $34.39 $32.84 $29.43
Tangible Book Value per Share		 $22.94 $20.73 $23.34 $30.35 $17.07 $0.00 $29.11 $25.60 $24.05 $21.31
Total Capital		 3,694 4,114 3,000 3,171 1,947 303 1,332 1,268 1,200 981
Total Debt		 701 1,218 113 152 244 303 259 324 335 210
Total Long-Term Debt		 701 1,218 113 152 244 303 259 161 159 210
Net Debt		 481 994 -240 -2,088 -1,053 152 8.25 111 46 -66
Capital Expenditures (CapEx)		 20 16 19 25 6.49 13 8.92 19 10 9.26
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 701 1,218 113 152 244 11,698 259 324 335 210
Total Depreciation and Amortization (D&A)		 39 34 32 8.04 20 22 16 16 14 12
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $4.52 $5.42 $5.69 $3.47 $3.64 $5.03 $4.41 $3.19 $2.90 $2.51
Adjusted Weighted Average Basic Shares Outstanding		 42.50M 44.18M 46.37M 34.87M 33.26M 32.81M 27.59M 27.29M 26.40M 25.89M
Adjusted Diluted Earnings per Share		 $4.52 $5.42 $5.69 $3.47 $3.64 $5.03 $4.40 $3.19 $2.90 $2.50
Adjusted Weighted Average Diluted Shares Outstanding		 42.51M 44.19M 46.39M 34.89M 33.29M 32.86M 27.65M 27.37M 26.46M 25.96M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $5.03 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 42.61M 84.89M 90.13M 94.80M 66.04M 34.33M 28.12M 27.51M 27.04M 26.29M
Normalized Net Operating Profit after Tax (NOPAT)		 194 240 269 153 124 185 130 89 81 72
Normalized NOPAT Margin		 28.06% 32.76% 36.98% 30.06% 25.80% 36.42% 33.71% 26.15% 26.00% 24.91%
Pre Tax Income Margin		 35.83% 43.10% 47.77% 30.88% 31.90% 42.90% 40.33% 39.36% 36.12% 31.70%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.85 1.67 11.75 11.42 4.45 4.05 6.11 7.34 5.96 4.47
NOPAT to Interest Expense		 0.66 1.27 8.92 8.82 3.53 3.07 4.76 4.76 4.08 3.15
EBIT Less CapEx to Interest Expense		 0.78 1.58 11.12 9.60 4.26 3.81 5.76 6.31 5.43 4.02
NOPAT Less CapEx to Interest Expense		 0.59 1.18 8.28 7.00 3.34 2.83 4.41 3.73 3.54 2.70
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 50.08% 40.92% 35.53% 51.85% 50.21% 32.25% 33.03% 39.04% 38.52% 40.01%
Augmented Payout Ratio		 66.21% 119.80% 88.58% 51.85% 128.69% 32.25% 34.15% 40.67% 39.43% 41.03%

Quarterly Metrics And Ratios for Independent Bank

This table displays calculated financial ratios and metrics derived from Independent Bank's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 6.37% -0.18% -4.45% -7.12% -10.61% -11.71% -3.86% 6.10% 14.38% 32.26% 63.71%
EBITDA Growth		 -7.44% -9.06% -26.76% -15.62% -19.81% -27.61% -14.39% 1.30% 17.97% 24,231.71% 72.37%
EBIT Growth		 -8.53% -11.26% -30.99% -19.77% -23.16% -29.29% -15.70% 0.67% 15.85% 9,046.03% 75.63%
NOPAT Growth		 -7.00% -8.70% -29.37% -18.06% -22.00% -28.87% -15.42% 1.41% 15.35% 9,918.15% 79.71%
Net Income Growth		 -7.00% -8.70% -29.37% -18.06% -22.00% -28.87% -15.42% 1.41% 15.35% 4,426.62% 79.71%
EPS Growth		 -7.14% -6.35% -26.81% -14.79% -17.65% -25.00% -12.10% 7.58% 21.43% 1,300.00% 29.75%
Operating Cash Flow Growth		 -73.91% -19.84% -13.56% -27.67% -0.62% -53.61% -39.10% -6.34% -31.86% 245.07% 241.74%
Free Cash Flow Firm Growth		 101.57% 144.31% 132.22% 128.49% -222.02% -527.28% 5.42% 33.87% 203.75% 120.23% -940.85%
Invested Capital Growth		 -0.42% -10.19% -6.31% -3.82% 0.00% 37.12% 32.59% 24.81% 0.00% -5.38% 53.19%
Revenue Q/Q Growth		 0.67% 0.91% 2.93% 1.72% -5.52% -3.41% 0.07% -2.10% -6.69% 5.17% 10.44%
EBITDA Q/Q Growth		 -6.32% 9.98% -15.35% 6.13% -7.96% -11.43% -2.48% 0.86% -16.91% 4.74% 15.40%
EBIT Q/Q Growth		 -9.16% 13.78% -16.69% 6.24% -11.87% -11.51% -3.15% 1.74% -18.90% 5.49% 15.66%
NOPAT Q/Q Growth		 -11.21% 16.50% -16.33% 7.45% -12.83% -9.88% -2.93% 2.28% -20.50% 7.16% 16.38%
Net Income Q/Q Growth		 -11.21% 16.50% -16.33% 7.45% -12.83% -9.88% -2.93% 2.28% -20.50% 7.16% 16.38%
EPS Q/Q Growth		 -11.86% 16.83% -16.53% 8.04% -11.11% -8.70% -2.82% 4.41% -19.05% 7.01% 18.94%
Operating Cash Flow Q/Q Growth		 -68.89% -38.94% 6.99% 28.36% -4.41% -34.16% -10.47% 76.36% -55.38% -13.55% 37.68%
Free Cash Flow Firm Q/Q Growth		 -87.05% 62.80% 47.88% 105.05% -264.75% -18.38% -30.76% -121.61% 1,177.31% 126.20% 8.58%
Invested Capital Q/Q Growth		 5.38% 1.48% 0.77% -7.60% -4.96% 5.86% 3.45% 0.00% -100.00% 2.37% -2.62%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 37.70% 40.51% 37.18% 45.20% 43.32% 44.47% 48.50% 49.76% 48.30% 54.24% 54.46%
EBIT Margin		 32.11% 35.58% 31.56% 39.00% 37.34% 40.03% 43.69% 45.14% 43.44% 49.98% 49.83%
Profit (Net Income) Margin		 24.95% 28.29% 24.51% 30.15% 28.54% 30.93% 33.15% 34.18% 32.71% 38.40% 37.68%
Tax Burden Percent		 77.71% 79.51% 77.65% 77.31% 76.44% 77.28% 75.88% 75.70% 75.31% 76.82% 75.63%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 22.29% 20.49% 22.35% 22.69% 23.56% 22.72% 24.12% 24.30% 24.69% 23.18% 24.37%
Return on Invested Capital (ROIC)		 4.48% 5.00% 4.49% 5.71% 10.38% 6.36% 7.34% 7.70% 0.00% 9.06% 10.56%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.48% 5.00% 4.49% 5.71% 10.38% 6.36% 7.34% 7.70% 0.00% 9.06% 10.56%
Return on Net Nonoperating Assets (RNNOA)		 1.43% 1.63% 1.28% 1.58% 3.69% 1.46% 1.43% 1.40% 0.00% 0.41% 0.62%
Return on Equity (ROE)		 5.91% 6.63% 5.77% 7.29% 14.08% 7.82% 8.77% 9.10% 0.00% 9.47% 11.19%
Cash Return on Invested Capital (CROIC)		 5.26% 15.66% 11.75% 9.72% -188.44% -24.57% -20.35% -14.01% 0.00% 14.08% -31.84%
Operating Return on Assets (OROA)		 1.15% 1.27% 1.12% 1.40% 1.37% 1.51% 1.69% 1.75% 0.00% 1.83% 1.98%
Return on Assets (ROA)		 0.89% 1.01% 0.87% 1.08% 1.05% 1.17% 1.28% 1.32% 0.00% 1.41% 1.49%
Return on Common Equity (ROCE)		 5.91% 6.63% 5.77% 7.29% 14.08% 7.82% 8.77% 9.10% 0.00% 9.47% 11.19%
Return on Equity Simple (ROE_SIMPLE)		 6.22% 0.00% 6.61% 7.36% 7.84% 0.00% 9.07% 9.56% 0.00% 0.00% 6.69%
Net Operating Profit after Tax (NOPAT)		 44 50 43 51 48 55 61 63 61 77 72
NOPAT Margin		 24.95% 28.29% 24.51% 30.15% 28.54% 30.93% 33.15% 34.18% 32.71% 38.40% 37.68%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 44.05% 42.50% 43.00% 43.38% 43.69% 40.56% 37.90% 38.48% 38.63% 34.28% 35.26%
Operating Expenses to Revenue		 59.47% 60.18% 57.31% 58.51% 59.68% 56.87% 53.31% 52.13% 52.69% 47.28% 48.60%
Earnings before Interest and Taxes (EBIT)		 57 63 55 66 62 71 80 83 81 100 95
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 67 72 65 77 73 79 89 91 90 109 104
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.88 1.87 1.73 1.49 1.63 1.99 1.50 1.39 0.00 2.17 1.99
Price to Tangible Book Value (P/TBV)		 1.31 2.80 2.60 2.27 2.49 3.05 2.30 2.15 0.00 3.34 3.10
Price to Revenue (P/Rev)		 3.81 8.10 7.46 6.25 6.60 7.89 5.73 5.21 3.73 8.60 8.24
Price to Earnings (P/E)		 14.14 29.08 26.13 20.32 20.77 24.08 16.52 14.55 10.30 23.73 29.67
Dividend Yield		 3.67% 3.55% 3.82% 4.43% 4.32% 3.48% 4.67% 5.06% 3.41% 2.67% 2.89%
Earnings Yield		 7.07% 3.44% 3.83% 4.92% 4.81% 4.15% 6.05% 6.87% 9.71% 4.21% 3.37%
Enterprise Value to Invested Capital (EV/IC)		 0.72 1.64 1.48 1.31 1.41 1.64 1.31 1.21 0.00 2.01 1.63
Enterprise Value to Revenue (EV/Rev)		 4.02 8.80 7.80 6.79 7.73 9.25 6.76 5.99 0.00 8.27 7.02
Enterprise Value to EBITDA (EV/EBITDA)		 10.01 21.19 18.35 14.95 16.59 19.35 13.45 11.57 0.00 15.87 17.65
Enterprise Value to EBIT (EV/EBIT)		 11.63 24.55 21.10 16.94 18.56 21.45 14.82 12.70 0.00 17.31 19.36
Enterprise Value to NOPAT (EV/NOPAT)		 14.90 31.59 27.35 22.09 24.33 28.23 19.50 16.73 0.00 22.82 19.36
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.64 26.39 22.38 18.85 19.88 24.41 15.06 11.67 0.00 14.29 14.06
Enterprise Value to Free Cash Flow (EV/FCFF)		 13.71 9.93 12.18 13.24 0.00 0.00 0.00 0.00 0.00 13.85 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.28 0.23 0.22 0.24 0.36 0.42 0.35 0.32 0.00 0.04 0.04
Long-Term Debt to Equity		 0.28 0.23 0.22 0.24 0.36 0.42 0.35 0.32 0.00 0.04 0.04
Financial Leverage		 0.32 0.33 0.28 0.28 0.36 0.23 0.20 0.18 0.00 0.05 0.06
Leverage Ratio		 6.63 6.58 6.61 6.72 6.70 6.68 6.85 6.88 0.00 6.73 7.49
Compound Leverage Factor		 6.63 6.58 6.61 6.72 6.70 6.68 6.85 6.88 0.00 6.73 7.49
Debt to Total Capital		 22.09% 18.98% 18.22% 19.19% 26.23% 29.62% 25.74% 23.99% 0.00% 3.78% 3.87%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 22.09% 18.98% 18.22% 19.19% 26.23% 29.62% 25.74% 23.99% 0.00% 3.78% 3.87%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 77.91% 81.02% 81.78% 80.81% 73.77% 70.38% 74.26% 76.01% 0.00% 96.22% 96.13%
Debt to EBITDA		 3.06 2.45 2.26 2.19 3.09 3.49 2.64 2.29 0.00 0.30 0.42
Net Debt to EBITDA		 0.51 1.68 0.81 1.20 2.43 2.85 2.06 1.50 0.00 -0.63 -3.05
Long-Term Debt to EBITDA		 3.06 2.45 2.26 2.19 3.09 3.49 2.64 2.29 0.00 0.30 0.42
Debt to NOPAT		 4.56 3.65 3.37 3.23 4.54 5.09 3.82 3.30 0.00 0.43 0.46
Net Debt to NOPAT		 0.76 2.51 1.21 1.77 3.56 4.15 2.98 2.17 0.00 -0.91 -3.34
Long-Term Debt to NOPAT		 4.56 3.65 3.37 3.23 4.54 5.09 3.82 3.30 0.00 0.43 0.46
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 61 469 288 195 -3,862 -1,059 -894 -684 3,165 248 -946
Operating Cash Flow to CapEx		 656.59% 678.32% 1,199.61% 1,763.34% 1,151.40% 850.10% 2,858.21% 3,739.76% 1,235.09% 5,954.62% 20,912.38%
Free Cash Flow to Firm to Interest Expense		 0.91 6.55 3.85 2.64 -54.70 -17.06 -16.86 -14.82 113.29 15.71 -128.31
Operating Cash Flow to Interest Expense		 0.20 0.60 0.94 0.89 0.72 0.86 1.53 1.97 1.84 7.31 18.10
Operating Cash Flow Less CapEx to Interest Expense		 0.17 0.51 0.86 0.84 0.66 0.76 1.48 1.91 1.69 7.19 18.02
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.00 0.04 0.04
Fixed Asset Turnover		 3.66 3.57 3.60 3.63 3.69 3.75 3.87 3.85 0.00 3.71 4.22
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,893 3,694 3,641 3,613 3,910 4,114 3,886 3,756 0.00 3,000 2,931
Invested Capital Turnover		 0.18 0.18 0.18 0.19 0.36 0.21 0.22 0.23 0.00 0.24 0.28
Increase / (Decrease) in Invested Capital		 -16 -419 -245 -144 3,910 1,114 955 747 -3,104 -171 1,018
Enterprise Value (EV)		 2,812 6,067 5,383 4,742 5,499 6,761 5,104 4,563 0.00 6,020 4,769
Market Capitalization		 2,669 5,586 5,145 4,362 4,695 5,767 4,324 3,970 2,802 6,260 5,592
Book Value per Share		 $71.20 $34.40 $34.22 $33.56 $67.78 $31.72 $31.46 $30.69 $0.00 $35.91 $35.05
Tangible Book Value per Share		 $47.82 $22.94 $22.74 $22.06 $44.24 $20.73 $20.50 $19.87 $0.00 $23.34 $22.46
Total Capital		 3,893 3,694 3,641 3,613 3,910 4,114 3,886 3,756 0.00 3,000 2,931
Total Debt		 860 701 663 693 1,025 1,218 1,000 901 0.00 113 113
Total Long-Term Debt		 860 701 663 693 1,025 1,218 1,000 901 0.00 113 113
Net Debt		 143 481 239 380 804 994 780 593 0.00 -240 -823
Capital Expenditures (CapEx)		 2.03 6.32 5.86 3.72 4.44 6.29 2.84 2.43 4.17 1.94 0.64
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 860 701 663 693 1,025 1,218 1,000 901 0.00 113 113
Total Depreciation and Amortization (D&A)		 9.95 8.72 9.84 11 10 7.87 8.81 8.46 9.10 8.55 8.84
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.04 $1.18 $1.01 $1.21 $1.12 $1.26 $0.00 $1.42 $0.00 $1.68 $1.57
Adjusted Weighted Average Basic Shares Outstanding		 42.55M 42.50M 42.48M 42.47M 42.55M 44.18M 0.00 44.13M 0.00 46.37M 45.84M
Adjusted Diluted Earnings per Share		 $1.04 $1.18 $1.01 $1.21 $1.12 $1.26 $0.00 $1.42 $0.00 $1.68 $1.57
Adjusted Weighted Average Diluted Shares Outstanding		 42.57M 42.51M 42.49M 42.47M 42.57M 44.19M 0.00 44.14M 0.00 46.39M 45.86M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 42.62M 42.61M 42.49M 42.48M 42.47M 84.89M 0.00 44.14M 0.00 90.13M 45.64M
Normalized Net Operating Profit after Tax (NOPAT)		 45 50 43 51 48 55 61 63 61 77 72
Normalized NOPAT Margin		 25.46% 28.29% 24.51% 30.15% 28.54% 30.93% 33.15% 34.18% 32.71% 38.40% 37.68%
Pre Tax Income Margin		 32.11% 35.58% 31.56% 39.00% 37.34% 40.03% 43.69% 45.14% 43.44% 49.98% 49.83%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.86 0.88 0.74 0.90 0.89 1.14 1.51 1.79 2.91 6.36 12.90
NOPAT to Interest Expense		 0.67 0.70 0.57 0.69 0.68 0.88 1.15 1.36 2.19 4.88 9.76
EBIT Less CapEx to Interest Expense		 0.83 0.79 0.66 0.85 0.82 1.04 1.46 1.74 2.76 6.24 12.81
NOPAT Less CapEx to Interest Expense		 0.64 0.61 0.50 0.64 0.61 0.78 1.09 1.30 2.04 4.76 9.67
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 51.31% 50.08% 48.90% 44.87% 42.69% 40.92% 37.06% 35.30% 35.34% 35.53% 45.80%
Augmented Payout Ratio		 51.31% 66.21% 99.67% 91.41% 86.91% 119.80% 82.89% 91.96% 130.20% 88.58% 120.05%

Frequently Asked Questions About Independent Bank's Financials

When does Independent Bank's financial year end?

According to the most recent income statement we have on file, Independent Bank's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Independent Bank's net income changed over the last 9 years?

Independent Bank's net income appears to be on an upward trend, with a most recent value of $192.08 million in 2024, rising from $64.96 million in 2015. The previous period was $239.50 million in 2023. Find out what analysts predict for Independent Bank in the coming months.

How has Independent Bank revenue changed over the last 9 years?

Over the last 9 years, Independent Bank's total revenue changed from $290.82 million in 2015 to $689.74 million in 2024, a change of 137.2%.

How much debt does Independent Bank have?

Independent Bank's total liabilities were at $16.38 billion at the end of 2024, a 0.4% decrease from 2023, and a 154.4% increase since 2015.

How much cash does Independent Bank have?

In the past 8 years, Independent Bank's cash and equivalents has ranged from $84.81 million in 2015 to $187.85 million in 2024, and is currently $187.85 million as of their latest financial filing in 2024.

How has Independent Bank's book value per share changed over the last 9 years?

Over the last 9 years, Independent Bank's book value per share changed from 29.43 in 2015 to 34.40 in 2024, a change of 16.9%.


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This page (NASDAQ:INDB) was last updated on 5/25/2025 by MarketBeat.com Staff
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