Independent Bank Corp. (INDB) Earnings History
Annual and quarterly earnings data from 1991 to 2024
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INDB EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
INDB Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2024 | 66.4% | 25.4% | 19.7% |
| 2023 | 76.7% | 34.6% | 26.3% |
| 2022 | 95.2% | 46.4% | 35.2% |
| 2021 | 93.8% | 30.4% | 23.4% |
| 2020 | 82.9% | 30.1% | 23.9% |
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Independent Bank Corp. (INDB) Earnings Overview
As of May 7, 2026, Independent Bank Corp. (INDB) reported trailing twelve-month net income of $180M, reflecting -16.6% year-over-year growth. The company earned $3.60 per diluted share over the past four quarters, with a net profit margin of 19.7%.
Looking at the long-term picture, INDB's 5-year EPS compound annual growth rate (CAGR) stands at -2.1%, signaling declining earnings. The company achieved its highest annual net income of $264M in fiscal 2022.
Independent Bank Corp. maintains industry-leading profitability with a gross margin of 66.4%, operating margin of 25.4%, and net margin of 19.7%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including WSFS ($287M net income, 21.1% margin), NBTB ($169M net income, 19.5% margin), TRMK ($224M net income, 20.0% margin), INDB has room to improve margins relative to the peer group. Compare INDB vs WSFS →
INDB Earnings vs Peers
Earnings metrics vs comparable public companies
INDB Historical Earnings Data (1991–2024)
34 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $192M | -19.8% | $247M | $4.52 | 19.7% | 25.4% |
| 2023 | $240M | -9.2% | $315M | $5.42 | 26.3% | 34.6% |
| 2022 | $264M | +118.0% | $348M | $5.69 | 35.2% | 46.4% |
| 2021 | $121M | -0.1% | $157M | $3.47 | 23.4% | 30.4% |
| 2020 | $121M | -26.6% | $153M | $3.64 | 23.9% | 30.1% |
| 2019 | $165M | +35.8% | $218M | $5.03 | 29.7% | 39.2% |
| 2018 | $122M | +39.5% | $156M | $4.40 | 29.5% | 37.8% |
| 2017 | $87M | +13.8% | $135M | $3.19 | 24.4% | 37.7% |
| 2016 | $77M | +18.0% | $112M | $2.90 | 23.5% | 34.4% |
| 2015 | $65M | +8.5% | $92M | $2.50 | 21.1% | 30.0% |
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Start ComparisonINDB — Frequently Asked Questions
Quick answers to the most common questions about buying INDB stock.
Is INDB growing earnings?
INDB EPS fell to $3.60, with earnings declining -16.6%. This contrasts with the 5-year CAGR of -2.1%. TTM net income dropped to $180M.
What are INDB's profit margins?
Independent Bank Corp. net margin is +19.7%, with operating margin at +25.4%. Above-average margins indicate pricing power.
How consistent are INDB's earnings?
INDB earnings data spans 1991-2024. The declining earnings trend is -16.6% YoY. Historical data enables comparison across business cycles.