Last 47 quarters of trend data · Financial Services · Banks - Regional
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Independent Bank Corp.'s quarterly P/E stands at 12.0x, down 11.6% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 11.0% YoY to 9.9x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 18.21 | 12.02 | 25.06 | 13.10 | 15.06 | 13.60 | 14.64 | 10.48 | 11.61 | 13.06 | 8.89 | 7.84 | 12.06 |
| — | -11.6% | +71.2% | +25.0% | +29.7% | +4.2% | +64.6% | +33.7% | -3.7% | +4.5% | -25.1% | -47.9% | -33.8% | |
| P/S Ratio | 3.44 | 2.67 | 2.58 | 2.68 | 2.75 | 2.77 | 2.52 | 2.22 | 2.35 | 3.02 | 2.31 | 2.16 | 3.47 |
| — | -3.6% | +2.3% | +20.5% | +17.0% | -8.4% | +8.8% | +2.7% | -32.2% | -32.9% | -46.9% | -59.4% | -40.8% | |
| P/B Ratio | 1.12 | 1.01 | 0.97 | 0.87 | 0.88 | 0.91 | 0.84 | 0.74 | 0.77 | 0.99 | 0.75 | 0.69 | 1.04 |
| — | +11.2% | +15.4% | +18.2% | +14.5% | -7.8% | +12.4% | +7.2% | -26.4% | -26.0% | -38.1% | -46.7% | -20.1% | |
| P/FCF | 16.74 | 11.97 | 14.79 | 6.54 | 58.96 | 18.69 | 9.76 | 8.70 | 11.86 | 15.16 | 6.91 | 5.56 | 15.63 |
| — | -36.0% | +51.5% | -24.8% | +397.2% | +23.3% | +41.1% | +56.4% | -24.1% | +75.0% | +6.5% | -46.6% | +8.5% | |
| EV / EBITDA | 15.29 | 9.88 | 14.51 | 8.47 | 10.41 | 11.10 | 10.48 | 8.20 | 10.37 | 12.13 | 8.25 | 6.99 | 9.47 |
| — | -11.0% | +38.4% | +3.3% | +0.5% | -8.5% | +27.1% | +17.3% | +9.5% | +47.1% | +33.1% | +8.6% | +40.2% | |
| EV / EBIT | 17.54 | 10.58 | 18.70 | 9.65 | 12.29 | 12.75 | 12.44 | 9.54 | 12.07 | 13.59 | 9.19 | 7.73 | 10.59 |
| — | -17.1% | +50.3% | +1.1% | +1.8% | -6.2% | +35.3% | +23.5% | +14.0% | +50.8% | +34.8% | +7.2% | +37.1% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Independent Bank Corp.'s operating margin was 29.4% in Q4 2025, up 16.1 pp QoQ and up 3.8 pp YoY. The trailing four-quarter average of 23.1% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 10.3% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 67.9% | 74.9% | 61.2% | 68.9% | 66.4% | 67.9% | 62.2% | 67.8% | 67.9% | 71.5% | 75.0% | 77.5% | 83.5% |
| — | +10.3% | -1.5% | +1.7% | -2.2% | -5.0% | -17.1% | -12.5% | -18.7% | -20.6% | -20.8% | -21.0% | -15.9% | |
| Operating Margin | 22.9% | 29.4% | 13.2% | 26.3% | 23.6% | 25.5% | 22.2% | 27.4% | 26.5% | 29.9% | 34.2% | 36.4% | 38.2% |
| — | +15.1% | -40.3% | -4.0% | -11.2% | -14.7% | -35.2% | -24.8% | -30.5% | -36.0% | -29.4% | -22.8% | -10.2% | |
| Net Margin | 17.6% | 22.2% | 10.2% | 20.4% | 18.3% | 20.3% | 17.2% | 21.2% | 20.3% | 23.1% | 26.0% | 27.6% | 28.8% |
| — | +9.5% | -40.6% | -3.6% | -9.7% | -12.3% | -33.7% | -23.2% | -29.5% | -35.7% | -29.1% | -22.3% | -10.6% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.3% | 2.1% | 1.0% | 1.7% | 1.5% | 1.7% | 1.5% | 1.8% | 1.7% | 1.9% | 2.1% | 2.2% | 2.1% |
| — | +26.4% | -29.0% | -5.4% | -10.8% | -11.6% | -31.2% | -19.7% | -22.8% | -29.8% | -16.2% | +4.1% | +20.7% | |
| ROA | 0.9% | 0.3% | 0.2% | 0.3% | 0.2% | 0.3% | 0.2% | 0.3% | 0.2% | 0.3% | 0.3% | 0.3% | 0.3% |
| — | +17.0% | -31.3% | -3.4% | -8.4% | -8.9% | -29.5% | -17.8% | -21.9% | -28.3% | -13.4% | +4.8% | +20.8% | |
| ROIC | 4.9% | 1.7% | 0.8% | 1.3% | 1.1% | 1.3% | 1.1% | 1.3% | 1.2% | 1.3% | 1.6% | 1.6% | 1.8% |
| — | +33.2% | -28.6% | -3.5% | -3.3% | -3.2% | -27.3% | -19.2% | -34.6% | -47.6% | -34.5% | -18.8% | +6.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Independent Bank Corp.'s Debt/EBITDA ratio is 7.7x, down from 13.6x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 7.7% YoY to 0.02x, tightening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.25 | 0.23 | 0.22 | 0.25 | 0.28 | 0.23 | 0.22 | 0.24 | 0.36 | 0.42 | 0.35 | 0.32 | 0.35 |
| — | -1.2% | -1.9% | +4.0% | -20.3% | -44.3% | -35.7% | -24.8% | +1.4% | +971.4% | +761.6% | +555.2% | +651.5% | |
| Debt / EBITDA | 2.94 | 7.75 | 13.56 | 10.13 | 12.75 | 9.70 | 10.11 | 8.97 | 14.09 | 15.34 | 11.20 | 9.85 | 10.91 |
| — | -20.1% | +34.1% | +12.9% | -9.5% | -36.8% | -9.7% | -8.9% | +29.1% | +1382.0% | +933.7% | +555.3% | +533.5% | |
| Current Ratio | 0.55 | 0.02 | 0.06 | 0.14 | 0.13 | 0.02 | 0.11 | 0.10 | 0.10 | 0.10 | 0.10 | 0.11 | 0.12 |
| — | -7.7% | -41.4% | +38.2% | +28.5% | -77.1% | +3.6% | -9.7% | -20.5% | -5.0% | -27.7% | -38.4% | -38.3% | |
| Quick Ratio | 0.55 | 0.02 | 0.06 | 0.14 | 0.13 | 0.02 | 0.11 | 0.10 | 0.10 | 0.10 | 0.10 | 0.11 | 0.12 |
| — | -7.7% | -41.4% | +38.2% | +28.5% | -77.1% | +3.6% | -9.7% | -20.5% | -5.0% | -27.7% | -38.4% | -38.3% | |
| Interest Coverage | 0.85 | 1.17 | 0.49 | 0.93 | 0.86 | 0.88 | 0.74 | 0.90 | 0.89 | 1.14 | 1.51 | 1.79 | 2.91 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying INDB stock.
Independent Bank Corp.'s current P/E is 18.2x. The average P/E over the last 4 quarters is 16.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Independent Bank Corp.'s current operating margin is 22.9%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Independent Bank Corp.'s business trajectory between earnings reports.