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INDB Financials Independent Bank Corp

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Free cash flow has grown 35.6% per year over the past 5 years.

Financial health

  • The company holds more cash ($772M) than total debt ($359M).

Shareholder returns

  • Dividends have been paid for 15 consecutive years, consuming 50.7% of earnings and 43.5% of free cash flow.
  • The dividend has grown 11.3% per year over the past 5 years.
Revenue & net income
$0 $132M $264M 2011 2013 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
0% 50% 100% 2011 2013 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Free cash flow (CFO − capex)
$0 $200M $399M 2011 2013 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $1B $2B 2011 2013 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$1B $130M $2B $0 2011 2013 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MFCFTotal debtCash
2025 $205M $239M $359M $772M
2024 $192M $209M $63M $220M
2023 $240M $261M $113M $224M
2022 $264M $399M $113M $353M
2021 $121M $165M $14M $2.2B
2020 $121M $52M $33M $1.3B
2019 $165M $200M $125M $151M
2018 $122M $131M $0
2017 $87M $106M $108M
2016 $77M $83M $108M
2015 $65M $79M $108M
2014 $60M $83M $337M
2013 $50M $132M $308M
2012 $43M $38M $319M
2011 $45M $48M $538M

Valuation over time

How the market has priced INDB against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 10.0 20.0 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/E
Dividend yield (%)
0.0 2.2 4.4 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
Dividend yield %

Frequently asked questions

Is INDB growing its revenue and profit?

See the revenue and net-income charts above for Independent Bank Corp's multi-year trend.

How much debt does INDB have?

As of FY2025, Independent Bank Corp reported $359M of total debt against $772M of cash.

What is INDB's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin —.

What is INDB's P/E ratio?

As of Jun '26, Independent Bank Corp traded at a price-to-earnings ratio of about 20.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.