Independent Bank Corp. logo INDB - Independent Bank Corp.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
1
BUY 5
HOLD 7
SELL 2
STRONG
SELL
0
| PRICE TARGET: $93.33 DETAILS
HIGH: $97.00
LOW: $88.00
MEDIAN: $95.00
CONSENSUS: $93.33
UPSIDE: 18.41%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Revenue
Revenue 1,167.2 974.1 911.3 749.8 516.0 507.4 556.6 412.2 356.8 326.1 307.8 286.4 270.2 255.7 245.6 249.6 239.5 205.1 191.8 94.0 182.9 163.0 156.1 163.5 165.8 144.0 126.8 121.8 105.5 88.9 84.5 80.1 74.2
Cost of Revenue 374.3 327.3 212.5 36.1 31.9 86.8 59.9 30.3 21.3 24.9 22.1 30.8 33.5 41.4 40.2 57.4 69.3 69.8 66.7 67.4 54.0 39.8 36.0 45.4 59.1 57.7 54.1 53.6 43.9 34.2 30.1 27.7 31.7
Gross Profit 792.9 646.9 698.9 713.7 484.1 420.6 496.7 381.9 335.5 301.2 285.6 255.6 236.6 214.2 205.4 192.2 170.2 135.3 125.1 26.6 128.9 123.2 120.1 118.0 106.7 86.3 72.7 68.2 61.6 54.7 54.4 52.4 42.5
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 297.7 244.5 234.1 211.7 176.6 155.0 162.5 137.2 129.6 122.2 118.3 106.4 102.5 95.8 93.5 92.3 89.7 72.3 54.2 47.9 49.9 47.3 43.5 41.5 38.0 29.9 24.9 21.1 19.5 20 22.1 20.8 17.3
Other Expenses 228.2 155.2 149.7 154.3 150.8 112.8 116.1 88.8 71.3 66.9 75.1 65.4 67.4 61.1 49.3 47.5 50.8 32.5 33.7 (68.9) 30.7 31.4 34.7 39.2 36.2 34.8 23.2 23.2 20.6 16.9 17.2 22 20.1
Operating Expenses 526.0 399.7 383.7 366.0 327.4 267.7 278.6 226.0 200.9 189.1 193.5 171.8 169.9 156.9 142.8 139.7 140.5 104.8 87.9 (21.0) 80.6 78.8 78.2 80.7 74.2 64.7 48.1 44.3 40.1 36.9 39.3 42.8 37.4
Operating Income
Operating Income 266.9 247.1 315.1 347.8 156.7 152.8 218.1 155.9 134.5 112.1 92.2 83.7 66.7 57.3 62.6 52.5 29.7 30.5 37.2 47.6 48.3 44.4 42.0 37.4 32.5 21.6 24.6 23.9 21.5 17.8 15.1 9.6 5.1
Interest Expense 313.6 291.0 189.2 29.6 13.7 34.3 53.9 25.5 18.3 18.8 20.6 20.4 23.3 23.4 28.7 38.8 52.0 58.9 63.6 65.0 49.8 36.8 32.5 40.8 54.5 55.4 50.2 49.6 41.6 32.4 29.1 27.1 26.7
Interest Income 1,022.4 852.8 795.7 642.8 415.3 402.1 447.0 323.7 277.2 246.6 235.5 216.5 205.9 196.2 195.8 202.7 202.7 175.4 159.7 167.7 155.7 134.6 128.3 140.8 145.1 127.6 112.0 108.7 93.8 77.5 73 68.6 61.1
Profitability
EBITDA 306.2 288.0 351.2 386.6 189.5 180.1 237.5 171.6 150.3 126.4 104.5 95.9 75.2 67.5 72.2 62.3 35.5 35.2 42.8 53.5 54.6 50.6 47.5 41.7 40.1 27.2 29.1 28.1 24.7 20.9 18.3 15 8.4
EBIT 266.9 247.1 315.1 347.8 156.7 152.8 218.1 155.9 134.5 112.1 92.2 83.7 66.7 57.3 62.6 52.5 29.7 30.5 37.2 47.6 48.3 44.4 42.0 37.4 32.5 21.6 24.6 23.9 21.5 17.8 15.1 9.6 5.1
Income Before Tax 262.2 247.1 315.1 347.8 156.7 152.8 218.1 155.9 134.5 112.1 92.2 83.7 66.7 57.3 62.6 52.5 29.7 30.5 37.2 47.6 48.3 44.4 42.0 37.4 32.5 21.6 24.6 23.9 21.5 17.8 15.1 9.6 5.1
Income Tax Expense 57.0 55.0 75.6 83.9 35.7 31.7 52.9 34.3 47.3 35.4 27.2 23.9 16.5 14.7 17.1 12.2 6.7 6.6 8.8 14.8 15.1 13.6 15.5 12.3 10.5 6.4 7.5 7.8 7.3 6.2 4.7 1.5 0.5
Net Income 205.1 192.1 239.5 263.8 121.0 121.2 165.2 121.6 87.2 76.6 65.0 59.8 50.3 42.6 45.4 40.2 23.0 24.0 28.4 32.9 33.2 30.8 26.4 25.1 22.1 15.2 17.0 16.1 14.2 11.6 10.4 8.1 4.6
Per Share Data
EPS (Basic) 4.45 4.52 5.42 5.69 3.47 3.64 5.03 4.41 3.19 2.90 2.51 2.50 2.18 1.96 2.12 1.90 0.88 1.53 2.02 2.20 2.16 2.06 1.82 1.63 1.54 1.07 1.20 1.10 0.97 0.80 0.71 0.56 0.32
EPS (Diluted) 4.45 4.52 5.42 5.69 3.47 3.64 5.03 4.40 3.19 2.90 2.50 2.49 2.18 1.95 2.12 1.90 0.88 1.52 2.00 2.17 2.14 2.06 1.79 1.61 1.53 1.06 1.19 1.08 0.95 0.79 0.71 0.56 0.32
Shares Outstanding 49.5 42.5 44.2 46.4 34.9 33.3 32.8 27.6 27.3 26.4 25.9 23.9 23.0 21.8 21.4 21.2 19.6 15.7 14.0 14.9 15.4 14.9 14.6 14.4 14.3 14.2 14.2 14.7 14.6 14.5 14.6 14.5 14.4
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Current Assets
Cash & Cash Equivalents 229.8 219.9 224.3 352.9 2,240.7 1,296.6 151.0 250.5 213.1 289.1 121.9 50.0 63.0 75.5 71.3 67.0 58.0 48.9 86.2 65 53.5 80.7 59.1 58.6
Short-Term Investments 4.7 147.3 1,334.3 1,399.2 1,571.1 412.9 426.4 442.8 447.5 363.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets (13.7) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 229.8 367.2 1,558.6 1,752.1 3,811.8 1,709.5 577.4 693.2 660.6 652.7 121.9 50.0 63.0 75.5 71.3 67.0 58.0 48.9 86.2 65 53.5 80.7 59.1 58.6
Non-Current Assets
Property, Plant & Equipment 218.2 193.3 193.0 196.5 195.6 116.4 123.7 97.6 94.7 78.5 44.2 36.4 36.4 32.5 30.9 29.9 30.4 14.3 15.2 12.8 10.6 8.9 7.1 7.8
Goodwill 1,090.6 985.1 985.1 985.1 985.1 506.2 506.2 256.1 231.8 221.5 129.3 116.4 55.2 36.2 36.2 0 0 0 0 0 0 0 0 0
Intangible Assets 133.6 12.3 18.2 25.1 32.8 23.1 29.3 15.2 9.3 9.8 14.4 10.8 2.1 0 2.0 36.2 0 0 0 0 0 0 0 0
Long-Term Investments 22,253.0 16,905.5 15,733.8 15,505.3 14,555.0 10,084.2 9,601.3 7,479.3 6,797.4 6,431.3 3,968.7 3,256.9 2,679.4 2,207.4 2,061.1 1,981.6 1,752.2 1,461.2 1,407.5 1,255.5 1,000.5 875.6 836.3 732.9
Other Non-Current Assets 974.0 910.2 858.6 830.1 843.1 764.9 557.3 310.1 288.2 315.5 203.5 157.9 61.9 85.2 83.8 84.4 70.4 63.5 66.2 36.7 28.2 22.4 26.7 30.4
Total Non-Current Assets 24,669.4 19,006.4 17,788.8 17,542.1 16,611.6 11,494.8 10,817.8 8,158.4 7,421.4 7,056.6 4,360.1 3,578.5 2,881.0 2,361.3 2,214.1 2,132.2 1,892.0 1,541.1 1,488.9 1,305 1,039.3 906.9 870.1 771.1
Total Assets 24,912.9 19,373.6 19,347.4 19,294.2 20,423.4 13,204.3 11,395.2 8,851.6 8,082.0 7,709.4 4,482.0 3,628.5 2,943.9 2,436.8 2,285.4 2,199.2 1,950.0 1,590.1 1,575.1 1,370 1,092.8 987.6 929.2 829.7
Current Liabilities
Account Payables 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Short-Term Debt 415.6 0 0 0 0 0 0 147.8 215.9 176.9 190.5 170.9 391.9 44.2 64.6 73.1 148.8 288.2 396.6 178.8 78.8 24.1 51.6 11.9
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 0 15,306.0 14,865.5 15,879.0 16,917.0 10,993.2 9,147.4 7,427.1 6,729.3 6,412.3 3,375.3 2,579.1 2,060.2 1,783.3 1,688.7 1,581.6 1,489.2 1,081.8 1,043.3 988.1 918.6 871.1 796.6 743.4
Total Current Liabilities 415.6 15,306.0 14,865.5 15,879.0 16,917.0 10,993.2 9,147.4 7,574.9 6,945.2 6,589.2 3,565.7 2,750.0 2,452.1 1,827.6 1,753.3 1,654.8 1,638.0 1,370.0 1,439.9 1,166.9 997.4 895.2 848.2 755.3
Non-Current Liabilities
Long-Term Debt 425.8 701.4 1,218.4 113.4 152.4 181.1 303.1 258.7 107.8 158.6 456.9 524.4 263.3 371.1 297.6 313.9 126.2 71.2 0 69.4 2.3 8.9 8.8 7
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 20,445.9 373.1 368.2 415.1 335.5 327.4 236.6 (55.5) 85.3 97.0 46.7 48.8 17.8 18.3 25.5 21.9 19.7 21.9 10.6 12.4 12 10.9 8 5
Total Non-Current Liabilities 20,931.5 1,074.5 1,586.6 528.5 487.9 508.4 539.7 203.2 193.0 255.5 503.6 573.2 281.1 389.5 323.1 335.8 145.9 93.1 10.6 81.8 14.3 19.8 16.8 12
Total Liabilities 21,347.2 16,380.4 16,452.1 16,407.5 17,405.0 11,501.6 9,687.0 7,778.1 7,138.2 6,844.7 4,069.4 3,323.2 2,733.2 2,217.1 2,076.4 1,990.6 1,783.9 1,463.2 1,450.5 1,248.7 1,011.7 915 865 772.3
Stockholders' Equity
Common Stock 0.5 0.4 0.4 0.5 0.5 0.3 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0 0 0 0 0 0
Retained Earnings 1,269.1 1,172.7 1,077.5 934.4 766.7 716.0 654.2 546.7 465.9 414.1 184.6 177.5 152.1 129.8 110.9 92.8 77.0 67.5 56.1 45.8 36.7 28.7 20.9 14
Accumulated Other Comprehensive Income (39.8) (86.6) (111.5) (159.9) 5.3 43.8 22.9 (1.2) (1.8) (1.3) 2.8 (9.9) 0.9 3.3 15.7 5.1 3.0 (3.8) 0 1.4 (0.1) (0.1) (0.3) 0
Total Stockholders' Equity 3,565.7 2,993.1 2,895.3 2,886.7 3,018.4 1,702.7 1,708.1 1,073.5 943.8 864.7 412.6 305.3 210.7 171.8 161.2 133.3 114.7 98.1 95.8 92.5 81.1 72.6 64.2 57.4
Total Liabilities & Equity 24,912.9 19,373.6 19,347.4 19,294.2 20,423.4 13,204.3 11,395.2 8,851.6 8,082.0 7,709.4 4,482.0 3,628.5 2,943.9 2,436.8 2,285.4 2,199.2 1,950.0 1,590.1 1,575.1 1,370 1,092.8 987.6 929.2 829.7
Debt Metrics
Total Debt 901.3 701.4 1,218.4 113.4 152.4 181.1 303.1 406.5 323.7 335.5 647.4 695.3 655.2 415.4 362.2 387.1 275.0 359.5 396.6 248.2 81.1 33 60.4 18.9
Net Debt 671.5 481.5 994.0 (239.6) (2,088.3) (1,115.6) 152.1 156.1 110.6 46.4 525.5 645.3 592.2 339.9 290.8 320.1 217.0 310.5 310.4 183.2 27.6 (47.7) 1.3 (39.7)
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Operating Activities
Net Income 205.1 192.1 239.5 263.8 121.0 121.2 165.2 121.6 87.2 76.6 33.2 30.8 26.4 25.1 22.1 15.2 17.0 16.1 14.2 11.6 10.4 8.1 4.6
Depreciation & Amortization 42.1 40.9 36.1 38.8 32.8 27.3 19.4 15.6 15.7 14.4 6.3 6.2 5.6 4.3 7.6 5.6 4.5 4.2 3.2 3.1 3.2 5.4 3.3
Stock-Based Compensation 9.0 6.5 6.4 4.5 4.3 4.1 4.4 4.2 3.3 3.0 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (26.4) (10.1) (1.7) 141.7 65.9 (94.0) 38.7 5.7 16.9 (1.6) 6.1 (16.5) (0.8) (0.5) (4.5) (5.3) 8.2 (0.2) (1.2) (3) 2.8 5.1 0
Other Non-Cash Items 24.6 11.2 (6.0) (26.4) (36.9) 23.6 (21.8) (0.9) (2) 0.6 2.4 (0.7) 11.4 (2.8) 3.0 1.8 3.3 3 1.3 1.4 1.2 1.7 7.6
Operating Cash Flow 251.2 229.9 277.0 421.2 190.2 64.6 216.5 141.8 130.9 93.3 45.8 19.3 42.7 23.5 28.7 17.6 33.1 23.2 18.3 15.1 17.6 18.3 15.5
Investing Activities
Capital Expenditure (12.1) (20.4) (15.8) (22.1) (25.2) (12.6) (16.6) (11.1) (25.1) (10.4) (5.4) (4.8) (5.6) (5.1) (4.1) (9.3) (2.2) (5) (4.2) (3.7) (3.5) (2.5) (0.9)
Acquisitions 97.8 0 0 0 787.3 0 (105.3) (6.9) 6.3 8.7 0 0 0 0 0 153.2 0 0 0 0 0 0 0
Purchases of Investments (465.9) (163.5) (31.8) (962.1) (1,916.1) (348.2) (139.4) (284.3) (237.6) (177.5) (132.7) (350.4) (470.5) (250.6) (382.7) (218.4) (81.6) (217.9) (238.6) (142.8) (52.3) (52.7) (140.6)
Sales/Maturities of Investments 490.3 373.5 247.6 306.7 360.3 370.6 225.4 170.5 134.0 161.4 219.6 202.1 452.7 309.5 266.3 76.9 121.1 175.5 108.7 79.9 53.2 53.8 67.8
Other Investing Activities (105.0) (222.6) (411.6) (322.9) 730.6 (498.0) 56.0 (255.7) (194.4) (221.0) (133.0) (206.3) (161.0) (122.8) (116.1) (23.7) (90.0) (145.8) (134.1) (68.3) (38.2) (105.4) 12.1
Investing Cash Flow 5.0 (33.0) (211.7) (1,000.5) (63.1) (488.2) 20.2 (387.5) (316.8) (238.9) (51.4) (359.3) (184.4) (68.9) (236.6) (21.4) (52.8) (193.5) (268.2) (134.9) (40.8) (106.8) (61.6)
Financing Activities
Net Debt Issuance 1.4 (517) 1,105 (39.1) (604.8) (122.2) (80.7) 64.6 0 (102.8) (67.4) 185.5 53.2 (46.8) 112.0 (84.4) (37.1) 148.3 167.1 48.3 (27.4) 36.6 2.3
Stock Repurchased (62.3) (31.8) (190.1) (141.0) (1.2) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid (103.9) (96.2) (98.0) (93.7) (62.7) (60.8) (53.3) (40.2) (34.0) (29.7) (9.1) (8.2) (7.4) (6.8) (6.2) (5.7) (5.7) (5.8) (5) (3.3) (2.5) (0.6) 0
Other Financing Activities 458.1 440.3 (1,013.6) (1,037.0) 1,483.8 1,752.3 (202.1) 258.6 143.9 291.8 145.3 151.0 94.6 99.0 116.4 94.0 38.5 55.1 98.4 47.3 74.5 53.2 14.4
Financing Cash Flow 295.8 (201.4) (193.9) (1,308.5) 817.0 1,569.2 (336.2) 283.0 109.9 158.9 69.9 330.1 142.7 46.9 222.9 4.1 (8.9) 191.4 261.2 93 45 89.3 16.7
Cash Position
Net Change in Cash 552.0 (4.4) (128.6) (1,887.8) 944.0 1,145.7 (99.5) 37.3 (76.0) 13.3 64.3 (9.8) 1.0 1.5 15.0 0.3 (28.5) 21.2 11.5 (80.4) (58.6) (57.9) (87.2)
Cash at Beginning 219.9 224.3 352.9 2,240.7 1,296.6 151.0 250.5 213.1 289.1 275.8 65.7 75.5 74.5 73.0 58.0 57.7 86.2 65 53.5 80.4 58.6 57.9 87.2
Cash at End 771.9 219.9 224.3 352.9 2,240.7 1,296.6 151.0 250.5 213.1 289.1 130.0 65.7 75.5 74.5 73.0 58.0 57.7 86.2 65 173.4 103.6 147.2 103.9
Free Cash Flow 239.5 209.5 261.1 399.1 165.0 52.0 199.9 130.7 105.8 82.9 40.4 14.5 37.1 18.5 24.5 8.2 30.9 18.2 14.1 11.4 14.1 15.8 14.6
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Income Statement
Revenue 1,167.2 974.1 911.3 749.8 516.0 507.4 556.6 412.2 356.8 326.1 307.8 286.4 270.2 255.7 245.6 249.6 239.5 205.1 191.8 94.0 182.9 163.0 156.1 163.5 165.8 144.0 126.8 121.8 105.5 88.9 84.5 80.1 74.2
Gross Profit 792.9 646.9 698.9 713.7 484.1 420.6 496.7 381.9 335.5 301.2 285.6 255.6 236.6 214.2 205.4 192.2 170.2 135.3 125.1 26.6 128.9 123.2 120.1 118.0 106.7 86.3 72.7 68.2 61.6 54.7 54.4 52.4 42.5
Operating Income 266.9 247.1 315.1 347.8 156.7 152.8 218.1 155.9 134.5 112.1 92.2 83.7 66.7 57.3 62.6 52.5 29.7 30.5 37.2 47.6 48.3 44.4 42.0 37.4 32.5 21.6 24.6 23.9 21.5 17.8 15.1 9.6 5.1
Net Income 205.1 192.1 239.5 263.8 121.0 121.2 165.2 121.6 87.2 76.6 65.0 59.8 50.3 42.6 45.4 40.2 23.0 24.0 28.4 32.9 33.2 30.8 26.4 25.1 22.1 15.2 17.0 16.1 14.2 11.6 10.4 8.1 4.6
EPS (Diluted) 4.45 4.52 5.42 5.69 3.47 3.64 5.03 4.40 3.19 2.90 2.50 2.49 2.18 1.95 2.12 1.90 0.88 1.52 2.00 2.17 2.14 2.06 1.79 1.61 1.53 1.06 1.19 1.08 0.95 0.79 0.71 0.56 0.32
Balance Sheet
Cash & Equivalents 229.8 219.9 224.3 352.9 2,240.7 1,296.6 151.0 250.5 213.1 289.1 121.9 50.0 63.0 75.5 71.3 67.0 58.0 48.9 86.2 65 53.5 80.7 59.1 58.6
Total Assets 24,912.9 19,373.6 19,347.4 19,294.2 20,423.4 13,204.3 11,395.2 8,851.6 8,082.0 7,709.4 4,482.0 3,628.5 2,943.9 2,436.8 2,285.4 2,199.2 1,950.0 1,590.1 1,575.1 1,370 1,092.8 987.6 929.2 829.7
Total Debt 901.3 701.4 1,218.4 113.4 152.4 181.1 303.1 406.5 323.7 335.5 647.4 695.3 655.2 415.4 362.2 387.1 275.0 359.5 396.6 248.2 81.1 33 60.4 18.9
Stockholders' Equity 3,565.7 2,993.1 2,895.3 2,886.7 3,018.4 1,702.7 1,708.1 1,073.5 943.8 864.7 412.6 305.3 210.7 171.8 161.2 133.3 114.7 98.1 95.8 92.5 81.1 72.6 64.2 57.4
Cash Flow
Operating Cash Flow 251.2 229.9 277.0 421.2 190.2 64.6 216.5 141.8 130.9 93.3 45.8 19.3 42.7 23.5 28.7 17.6 33.1 23.2 18.3 15.1 17.6 18.3 15.5
Capital Expenditure (12.1) (20.4) (15.8) (22.1) (25.2) (12.6) (16.6) (11.1) (25.1) (10.4) (5.4) (4.8) (5.6) (5.1) (4.1) (9.3) (2.2) (5) (4.2) (3.7) (3.5) (2.5) (0.9)
Free Cash Flow 239.5 209.5 261.1 399.1 165.0 52.0 199.9 130.7 105.8 82.9 40.4 14.5 37.1 18.5 24.5 8.2 30.9 18.2 14.1 11.4 14.1 15.8 14.6