INDB

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Independent Bank Corp.

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Key Metrics

Previous Close: $83.33
52-Week Range: $63.33 – $87.50
Market Cap: $3.96B
P/E (TTM): 15.10
EPS (TTM): 5.53
Dividend Yield: 2.95%

Advanced Metrics

Price/Book: 1.13
PEG Ratio: 11.00
Return on Equity: 8.24%
Return on Assets: 1.21%
Gross Margin: 0.00%
Operating Margin: 47.25%
Profit Margin: 28.60%
Current Ratio: —
Debt/Equity: —
Total Debt: $758.44M
Free Cash Flow: —
Revenue Growth: 41.50%
Earnings Growth: 41.80%
Enterprise Value: $3.67B

INDB Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$720.25M	$722.13M	$683.11M	$849.03M
Selling, General & Admin	$211.66M	$234.09M	$244.54M	$300.00M
Pretax Income	$347.75M	$315.13M	$247.13M	$262.17M
Income Tax	$83.94M	$75.63M	$55.05M	$57.05M
Net Income	$263.81M	$239.50M	$192.08M	$205.12M
Diluted EPS	5.69	5.42	4.52	4.44
Diluted Shares	46.39M	44.19M	42.51M	46.19M

INDB Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$352.93M	$224.33M	$219.89M	$771.90M
Total Assets	$19.29B	$19.35B	$19.37B	$24.91B
Long-Term Debt	$113.38M	$1.22B	$701.37M	$775.89M
Total Debt	$113.38M	$1.22B	$701.37M	$825.85M
Total Liabilities	$16.41B	$16.45B	$16.38B	$21.35B
Retained Earnings	$934.44M	$1.08B	$1.17B	$1.27B
Shareholders' Equity	$2.89B	$2.90B	$2.99B	$3.57B
Net Debt	—	$994.05M	$481.48M	$53.95M

INDB Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$421.20M	$276.99M	$229.92M	$251.16M
Capital Expenditure	-$22.07M	-$15.84M	-$20.43M	-$12.13M
Free Cash Flow	$399.13M	$261.15M	$209.49M	$239.03M
Depreciation & Amortisation	$38.80M	$36.10M	$40.89M	$42.14M
Stock-Based Compensation	$4.46M	$6.38M	$6.52M	$8.98M
Investing Cash Flow	-$1.00B	-$211.65M	-$33.01M	$5.05M
Financing Cash Flow	-$1.31B	-$193.95M	-$201.35M	$295.80M
Dividends Paid	-$93.73M	-$98.01M	-$96.20M	-$103.90M
Net Change in Cash	-$1.89B	-$128.60M	-$4.44M	$552.01M

INDB Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$179.82M	$243.74M	$245.44M	$250.32M	—
Selling, General & Admin	$67.03M	$84.21M	$85.64M	$84.06M	—
Pretax Income	$65.81M	$44.39M	$94.81M	$104.30M	—
Income Tax	$14.71M	$10.13M	$19.48M	$24.38M	—
Net Income	$51.10M	$34.26M	$75.33M	$79.92M	—
Diluted EPS	1.20	0.69	1.52	1.63	1.70
Diluted Shares	42.64M	49.96M	49.48M	49.00M	48.08M

INDB Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$716.84M	$901.23M	$910.80M	$771.90M	$728.98M
Total Assets	$19.89B	$20.05B	$24.99B	$24.91B	$24.78B
Long-Term Debt	$859.87M	$759.43M	$775.38M	$775.89M	$676.29M
Total Debt	$859.87M	$759.43M	$775.38M	$825.85M	$776.26M
Total Liabilities	$16.85B	$16.97B	$21.45B	$21.35B	$21.24B
Retained Earnings	$1.19B	$1.22B	$1.22B	$1.27B	$1.32B
Shareholders' Equity	$3.03B	$3.07B	$3.55B	$3.57B	$3.54B
Net Debt	$143.03M	—	—	$53.95M	$47.28M

INDB Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$13.34M	$106.72M	$52.16M	$78.94M	$117.22M
Capital Expenditure	-$2.03M	-$4.22M	-$2.48M	-$3.40M	-$5.60M
Free Cash Flow	$11.31M	$102.50M	$49.68M	$75.53M	$111.61M
Depreciation & Amortisation	$10.29M	$9.16M	$12.80M	$9.89M	$10.21M
Stock-Based Compensation	$1.90M	$2.95M	$2.25M	$1.89M	$2.31M
Investing Cash Flow	-$19.91M	-$14.68M	$72.52M	-$32.87M	$12.71M
Financing Cash Flow	$503.52M	$92.35M	-$115.12M	-$184.96M	-$172.85M
Dividends Paid	-$24.23M	-$25.14M	-$25.15M	-$29.39M	-$29.05M
Net Change in Cash	$496.95M	$184.39M	$9.56M	-$138.89M	-$42.92M

Market Snapshot

About

Independent Bank Corp. is the holding company for Rockland Trust Company, a Massachusetts-based commercial bank serving individuals and businesses throughout New England. The bank offers a comprehensive range of financial products including commercial and residential lending, deposit accounts, wealth management, and investment services. Independent Bank operates through a network of branches and ATMs across Massachusetts and Rhode Island, complemented by digital banking channels. The company focuses on relationship banking and community involvement while maintaining strong capital ratios and conservative underwriting standards.