Independent Bank Corp. (INDB) P/E Ratio History
Historical price-to-earnings valuation from 1992 to 2025
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INDB Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Independent Bank Corp. (INDB) trades at a price-to-earnings ratio of 17.4x, with a stock price of $78.63 and trailing twelve-month earnings per share of $3.60.
The current P/E is 14% above its 5-year average of 15.3x. Over the past five years, INDB's P/E has ranged from a low of 7.4x to a high of 23.3x, placing the current valuation at the 70th percentile of its historical range.
Compared to the Financial Services sector median P/E of 13.4x, INDB trades at a 30% premium to its sector peers. The sector includes 774 companies with P/E ratios ranging from 0.0x to 195.8x.
Relative to the broader market, INDB trades at a notable discount to the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our INDB DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
INDB P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $4B | 14.2 | 0.81 | +15% | |
| $2B | 13.6 | 1.93 | +13% | |
| $3B | 12.1 | 1.50 | +2% | |
| $3B | 13.6 | 4.27 | +6% | |
| $696M | 10.3Lowest | 1.96 | +3% | |
| $4B | 10.5 | 0.75 | +32%Best | |
| $10B | 16.7 | 5.60 | +1% | |
| $10B | 14.7 | 1.63 | +2% | |
| $10B | 13.3 | 0.67Best | +12% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
INDB Historical P/E Data (1992–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q3 | $69.17 | $4.11 | 16.8x | +3% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $62.89 | $4.43 | 14.2x | -13% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $62.65 | $4.44 | 14.1x | -13% |
| FY2024 Q4 | $64.19 | $4.52 | 14.2x | -13% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $59.13 | $4.60 | 12.9x | -21% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $50.72 | $4.97 | 10.2x | -37% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $52.02 | $5.18 | 10.0x | -38% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $65.81 | $5.42 | 12.1x | -25% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $49.09 | $5.85 | 8.4x | -48% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $44.51 | $6.04 | 7.4x | -55% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $65.62 | $5.94 | 11.0x | -32% |
| FY2022 Q4 | Sat Dec 31 2022 00:00:00 GM | $84.43 | $5.70 | 14.8x | -9% |
Average P/E for displayed period: 16.3x
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Start ComparisonINDB — Frequently Asked Questions
Quick answers to the most common questions about buying INDB stock.
Is INDB stock overvalued or undervalued?
INDB trades at 17.4x P/E, near its 5-year average of 15.3x. The 70th percentile ranking places valuation within normal historical bounds.
How does INDB's valuation compare to peers?
Independent Bank Corp. P/E of 17.4x compares to sector median of 13.4x. The premium reflects expected growth above peers.
What is INDB's PEG ratio?
INDB PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1992-2025.