Independent Bank Corp - Understand $indb stock

$INDB Market Cap: $3.068 Billion

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$636.4M

TTM

Gross Margin

Net Earnings

$196.9M

TTM

Current Assets

Current Liabilities

Current Ratio

Total Assets

$19.41B

Q3 2024

Total Liabilities

$16.43B

Q3 2024

Book Value

$2.977B

Q3 2024

Cash

$424.5M

Q3 2024

P/E

15.58

Nov 29, 2024 EST

Free Cash Flow

$220.1M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	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	1992	1991	1990	1989	1988	1987	1986	1985
Revenue	$795.7M	$642.8M	$415.3M	$402.1M	$447.0M	$323.7M	$277.2M	$246.6M	$235.5M	$216.5M	$205.9M	$196.2M	$195.8M	$202.7M
YoY Change	23.78%	54.8%	3.28%	-10.05%	38.09%	16.78%	12.39%	4.71%	8.82%	5.12%	4.96%	0.23%	-3.44%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Revenue	$795.7M	$642.8M	$415.3M	$402.1M	$447.0M	$323.7M	$277.2M	$246.6M	$235.5M	$216.5M	$205.9M	$196.2M	$195.8M	$202.7M
Cost Of Revenue
Gross Profit
Gross Profit Margin

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	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	1992	1991	1990	1989	1988	1987
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$18.90M	$18.40M	$12.50M	$12.80M	$11.40M	$9.100M	$8.500M	$7.300M	$7.000M	$6.600M	$6.100M	$5.500M	$4.900M	$5.200M	$5.700M	$4.600M	$5.200M	$5.900M	$5.900M	$5.800M	$5.600M	$4.300M	$7.600M	$5.600M	$4.500M	$4.200M	$3.200M	$3.100M	$3.200M	$5.400M	$3.300M	$2.500M	$2.300M	$2.200M	$2.100M	$2.000M	$1.900M
YoY Change	2.72%	47.2%	-2.34%	12.28%	25.27%	7.06%	16.44%	4.29%	6.06%	8.2%	10.91%	12.24%	-5.77%	-8.77%	23.91%	-11.54%	-11.86%	0.0%	1.72%	3.57%	30.23%	-43.42%	35.71%	24.44%	7.14%	31.25%	3.23%	-3.13%	-40.74%	63.64%	32.0%	8.7%	4.55%	4.76%	5.0%	5.26%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Interest Expense	$189.2M	$29.59M	$13.72M	$34.34M	$53.88M	$25.54M	$18.33M	$18.79M	$20.62M	$20.42M	$23.34M	$23.39M	$28.67M	$38.76M
YoY Change	539.4%	115.73%	-60.06%	-36.26%	110.99%	39.28%	-2.44%	-8.85%	0.98%	-12.51%	-0.24%	-18.41%	-26.03%
% of Operating Profit
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	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	1992	1991	1990	1989	1988	1987	1986	1985
Pretax Income	$315.1M	$347.8M	$156.7M	$152.8M	$218.1M	$155.9M	$134.5M	$112.1M	$92.18M	$83.74M	$66.74M	$57.30M	$62.58M	$52.47M	$29.70M	$30.50M	$37.20M	$47.60M	$48.30M	$44.40M	$42.00M	$37.40M	$32.50M	$21.60M	$24.60M	$23.90M	$21.50M	$17.80M	$15.10M	$9.600M	$5.100M	$400.0K	-$16.20M	-$28.30M	$8.600M	$14.10M	$13.90M	$12.70M	$9.200M
YoY Change	-9.38%	121.96%	2.51%	-29.93%	39.88%	15.89%	20.05%	21.59%	10.07%	25.48%	16.47%	-8.44%	19.28%	76.66%	-2.62%	-18.01%	-21.85%	-1.45%	8.78%	5.71%	12.3%	15.08%	50.46%	-12.2%	2.93%	11.16%	20.79%	17.88%	57.29%	88.24%	1175.0%	-102.47%	-42.76%	-429.07%	-39.01%	1.44%	9.45%	38.04%	70.37%
Income Tax	$75.63M	$83.94M	$35.68M	$31.67M	$52.93M	$34.30M	$47.34M	$35.43M	$27.22M	$23.90M	$16.48M	$14.67M	$17.15M	$12.23M	$6.700M	$6.600M	$8.800M	$14.80M	$15.10M	$13.60M	$15.50M	$12.30M	$10.50M	$6.400M	$7.500M	$7.800M	$7.300M	$6.200M	$4.700M	$1.500M	$500.0K	$200.0K	-$4.300M	-$10.40M	$2.700M	$5.200M	$5.600M	$5.000M	$3.200M
% Of Pretax Income	24.0%	24.14%	22.78%	20.72%	24.27%	22.0%	35.19%	31.61%	29.53%	28.54%	24.7%	25.61%	27.4%	23.3%	22.56%	21.64%	23.66%	31.09%	31.26%	30.63%	36.9%	32.89%	32.31%	29.63%	30.49%	32.64%	33.95%	34.83%	31.13%	15.63%	9.8%	50.0%			31.4%	36.88%	40.29%	39.37%	34.78%
Net Earnings	$239.5M	$263.8M	$121.0M	$121.2M	$165.2M	$121.6M	$87.20M	$76.65M	$64.96M	$59.85M	$50.25M	$42.63M	$45.44M	$40.24M	$23.00M	$24.00M	$28.40M	$32.90M	$33.20M	$30.80M	$26.40M	$25.10M	$22.10M	$15.20M	$17.00M	$16.10M	$14.20M	$11.60M	$10.40M	$8.100M	$4.600M	$200.0K	-$11.90M	-$17.90M	$5.900M	$8.900M	$8.300M	$7.800M	$6.000M
YoY Change	-9.22%	118.04%	-0.14%	-26.64%	35.81%	39.47%	13.77%	17.99%	8.55%	19.09%	17.89%	-6.18%	12.91%	74.96%	-4.17%	-15.49%	-13.68%	-0.9%	7.79%	16.67%	5.18%	13.57%	45.39%	-10.59%	5.59%	13.38%	22.41%	11.54%	28.4%	76.09%	2200.0%	-101.68%	-33.52%	-403.39%	-33.71%	7.23%	6.41%	30.0%	50.0%
Net Earnings / Revenue	30.1%	41.04%	29.14%	30.14%	36.95%	37.57%	31.46%	31.08%	27.58%	27.65%	24.41%	21.73%	23.21%	19.85%
Basic Earnings Per Share	$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
Diluted Earnings Per Share	$5.42	$5.687M	$3.47	$3.64	$5.03	$4.40	$3.19	$2.90	$2.50	$2.49	$2.18	$1.95	$2.12	$1.90	$1.168M	$1.519M	$2.000M	$2.179M	$2.142M	$2.026M	$1.796M	$1.719M	$1.535M	$1.063M	$1.181M	$1.081M	$946.7K	$783.8K	$712.3K	$562.5K	$319.4K	$37.74K	-$2.288M	-$3.442M	$1.157M	$1.745M	$1.660M	$1.560M	$1.500M

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	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	1992	1991	1990	1989	1988	1987	1986	1985
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
Property, Plant & Equipment	$193.0M	$196.5M	$256.0M	$166.0M	$180.0M	$98.00M	$95.00M	$78.00M	$76.00M	$64.00M	$65.00M	$55.00M	$48.00M	$46.00M	$44.00M	$36.00M	$39.00M	$37.00M	$37.00M	$36.00M	$32.00M	$31.00M	$30.00M	$30.00M	$14.00M	$15.00M	$13.00M	$11.00M	$9.000M	$7.000M	$8.000M	$8.000M	$10.00M	$11.00M	$11.00M	$11.00M	$10.00M	$8.000M	$5.000M
YoY Change	-1.76%	-23.24%	54.22%	-7.78%	83.67%	3.16%	21.79%	2.63%	18.75%	-1.54%	18.18%	14.58%	4.35%	4.55%	22.22%	-7.69%	5.41%	0.0%	2.78%	12.5%	3.23%	3.33%	0.0%	114.29%	-6.67%	15.38%	18.18%	22.22%	28.57%	-12.5%	0.0%	-20.0%	-9.09%	0.0%	0.0%	10.0%	25.0%	60.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
Total Assets	$19.35B	$19.29B	$20.42B	$13.20B	$11.40B	$8.852B	$8.082B	$7.709B	$7.209B	$6.365B	$6.099B	$5.757B	$4.970B	$4.696B	$4.482B	$3.628B	$2.768B	$2.829B	$3.042B	$2.944B	$2.437B	$2.285B	$2.199B	$1.950B	$1.590B	$1.575B	$1.370B	$1.093B	$988.0M	$929.0M	$830.0M	$807.0M	$846.0M	$1.012B	$1.051B	$978.0M	$840.0M	$781.0M	$515.0M
YoY Change
Accounts Payable
YoY Change
Accrued Expenses	$56.28M	$60.71M	$64.00M	$56.00M	$58.00M
YoY Change	-7.3%	-5.15%	14.29%	-3.45%
Deferred Revenue
YoY Change
Short-Term Debt						$0.00	$163.0M	$177.0M	$134.0M	$198.0M	$204.0M	$215.0M	$216.0M	$171.0M	$193.0M	$174.0M	$142.0M	$111.0M	$119.0M	$66.00M	$44.00M	$65.00M	$73.00M	$84.00M	$103.0M	$83.00M	$42.00M	$3.000M	$8.000M	$30.00M	$19.00M	$13.00M	$7.000M	$20.00M	$18.00M	$16.00M	$14.00M	$14.00M	$19.00M
YoY Change						-100.0%	-7.91%	32.09%	-32.32%	-2.94%	-5.12%	-0.46%	26.32%	-11.4%	10.92%	22.54%	27.93%	-6.72%	80.3%	50.0%	-32.31%	-10.96%	-13.1%	-18.45%	24.1%	97.62%	1300.0%	-62.5%	-73.33%	57.89%	46.15%	85.71%	-65.0%	11.11%	12.5%	14.29%	0.0%	-26.32%
Long-Term Debt Due					$0.00	$0.00
YoY Change
Total Short-Term Liabilities	$56.28M	$60.71M	$64.00M	$56.00M	$58.00M		$163.0M	$177.0M	$134.0M	$198.0M	$204.0M	$215.0M	$216.0M	$171.0M	$193.0M	$174.0M	$142.0M	$111.0M	$119.0M	$66.00M	$44.00M	$65.00M	$73.00M	$84.00M	$103.0M	$83.00M	$42.00M	$3.000M	$8.000M	$30.00M	$19.00M	$13.00M	$7.000M	$20.00M	$18.00M	$16.00M	$14.00M	$14.00M	$19.00M
YoY Change	-7.3%	-5.15%	14.29%	-3.45%			-7.91%	32.09%	-32.32%	-2.94%	-5.12%	-0.46%	26.32%	-11.4%	10.92%	22.54%	27.93%	-6.72%	80.3%	50.0%	-32.31%	-10.96%	-13.1%	-18.45%	24.1%	97.62%	1300.0%	-62.5%	-73.33%	57.89%	46.15%	85.71%	-65.0%	11.11%	12.5%	14.29%	0.0%	-26.32%
Long-Term Debt	$112.8M	$112.7M	$127.0M	$145.0M	$187.0M	$111.0M	$108.0M	$108.0M	$108.0M	$139.0M	$104.0M	$104.0M	$92.00M	$92.00M	$92.00M	$92.00M	$52.00M	$77.00M	$52.00M	$52.00M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.000M	$5.000M	$5.000M	$9.000M	$9.000M	$9.000M	$10.00M	$10.00M	$9.000M	$9.000M	$3.000M
YoY Change	0.09%	-11.23%	-12.41%	-22.46%	68.47%	2.78%	0.0%	0.0%	-22.3%	33.65%	0.0%	13.04%	0.0%	0.0%	0.0%	76.92%	-32.47%	48.08%	0.0%									-100.0%	0.0%	0.0%	-44.44%	0.0%	0.0%	-10.0%	0.0%	11.11%	0.0%	200.0%
Other Long-Term Liabilities	$368.2M	$415.1M	$272.0M	$271.0M	$178.0M	$92.00M	$85.00M	$97.00M	$103.0M	$107.0M	$73.00M	$90.00M	$87.00M	$66.00M	$47.00M	$49.00M	$17.00M	$15.00M	$20.00M	$18.00M	$18.00M	$25.00M	$22.00M	$20.00M	$22.00M	$11.00M	$12.00M	$12.00M	$11.00M	$8.000M	$5.000M	$4.000M	$5.000M	$7.000M	$7.000M	$7.000M	$6.000M	$5.000M	$5.000M
YoY Change	-11.3%	52.61%	0.37%	52.25%	93.48%	8.24%	-12.37%	-5.83%	-3.74%	46.58%	-18.89%	3.45%	31.82%	40.43%	-4.08%	188.24%	13.33%	-25.0%	11.11%	0.0%	-28.0%	13.64%	10.0%	-9.09%	100.0%	-8.33%	0.0%	9.09%	37.5%	60.0%	25.0%	-20.0%	-28.57%	0.0%	0.0%	16.67%	20.0%	0.0%
Total Long-Term Liabilities	$481.0M	$527.8M	$399.0M	$416.0M	$365.0M	$203.0M	$193.0M	$205.0M	$211.0M	$246.0M	$177.0M	$194.0M	$179.0M	$158.0M	$139.0M	$141.0M	$69.00M	$92.00M	$72.00M	$70.00M	$18.00M	$25.00M	$22.00M	$20.00M	$22.00M	$11.00M	$12.00M	$12.00M	$16.00M	$13.00M	$10.00M	$13.00M	$14.00M	$16.00M	$17.00M	$17.00M	$15.00M	$14.00M	$8.000M
YoY Change	-8.87%	32.29%	-4.09%	13.97%	79.8%	5.18%	-5.85%	-2.84%	-14.23%	38.98%	-8.76%	8.38%	13.29%	13.67%	-1.42%	104.35%	-25.0%	27.78%	2.86%	288.89%	-28.0%	13.64%	10.0%	-9.09%	100.0%	-8.33%	0.0%	-25.0%	23.08%	30.0%	-23.08%	-7.14%	-12.5%	-5.88%	0.0%	13.33%	7.14%	75.0%
Total Liabilities	$16.45B	$16.41B	$17.41B	$11.50B	$9.687B	$7.778B	$7.138B	$6.845B	$6.438B	$5.724B	$5.508B	$5.228B	$4.501B	$4.259B	$4.069B	$3.323B	$2.548B	$2.599B	$2.814B	$2.733B	$2.217B	$2.076B	$1.991B	$1.784B	$1.463B	$1.450B	$1.249B	$1.012B	$915.0M	$865.0M	$772.0M	$754.0M	$815.0M	$970.0M	$990.0M	$922.0M	$792.0M	$740.0M	$488.0M
YoY Change	0.27%	-5.73%	51.32%	18.74%	24.54%	8.97%	4.28%	6.32%	12.47%	3.92%	5.36%	16.15%	5.68%	4.67%	22.45%	30.42%	-1.96%	-7.64%	2.96%	23.27%	6.79%	4.27%	11.6%	21.94%	0.9%	16.09%	23.42%	10.6%	5.78%	12.05%	2.39%	-7.48%	-15.98%	-2.02%	7.38%	16.41%	7.03%	51.64%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Basic Shares Outstanding	44.18M shares	46.37M shares	34.87M shares	33.26M shares	32.81M shares	27.59M shares	27.29M shares	26.40M shares	25.89M shares	23.90M shares	23.01M shares	21.78M shares	21.42M shares	21.18M shares
Diluted Shares Outstanding	44.19M shares	46.39M shares	34.89M shares	33.29M shares	32.86M shares	27.65M shares	27.37M shares	26.46M shares	25.96M shares	23.99M shares	23.09M shares	21.81M shares	21.45M shares	21.20M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $3.0678 Billion

About INDEPENDENT BANK CORP

Independent Bank Corp. operates as a bank holding company. The company is headquartered in Rockland, Massachusetts and currently employs 1,787 full-time employees. The Bank provides a range of banking, investment and financial services, operating with over 120 retail branches, as well as a network of commercial and residential lending centers, and investment management offices primarily in Eastern Massachusetts, Worcester County, and Rhode Island. The Bank also offers a full suite of mobile, online, and telephone banking services. The Bank’s commercial, consumer real estate, and other consumer loan portfolios consist of loans made to residents of and businesses located in the Bank’s market area. Its commercial loans consist of commercial real estate loans, commercial construction loans, commercial and industrial loans, and small business loans. The Bank’s consumer portfolio consists of real estate loans comprised of residential mortgages and home equity loans and lines, all secured by one-to-four family residential properties, as well as other consumer loans.

Industry: State Commercial Banks Peers: FIRST HAWAIIAN, INC. COMMUNITY FINANCIAL SYSTEM, INC. CVB FINANCIAL CORP Eastern Bankshares, Inc. FNB CORP/PA/ HANCOCK WHITNEY CORP Investors Bancorp, Inc. PNC FINANCIAL SERVICES GROUP, INC. UMPQUA HOLDINGS CORP UNITED COMMUNITY BANKS INC