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
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
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
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
—
$80M
—
—
$112M
—
$729M
Dec '25
—
$75M
—
—
$76M
$359M
$772M
Sep '25
—
$34M
—
—
$50M
—
$911M
Jun '25
—
$51M
—
—
$103M
—
$901M
Mar '25
—
$44M
—
—
$11M
—
$717M
Dec '24
—
$50M
—
—
$37M
$63M
$220M
Sep '24
—
$43M
—
—
$64M
—
$424M
Jun '24
—
$51M
—
—
$62M
—
$314M
Mar '24
—
$48M
—
—
$47M
—
$221M
Dec '23
—
$55M
—
—
$47M
$113M
$224M
Sep '23
—
$61M
—
—
$78M
$113M
$220M
Jun '23
—
$63M
—
—
$88M
$113M
$308M
Mar '23
—
$61M
—
—
$47M
—
$503M
Dec '22
—
$77M
—
—
$111M
$113M
$353M
Sep '22
—
$72M
—
—
$132M
—
$936M
Jun '22
—
$62M
—
—
$89M
—
$1.5B
Mar '22
—
$53M
—
—
$67M
—
$1.8B
Dec '21
—
$2M
—
—
$24M
$14M
$2.2B
Sep '21
—
$40M
—
—
$30M
$19M
$2.0B
Jun '21
—
$38M
—
—
$46M
$23M
—
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.
The price-to-earnings ratio has risen from 12.0× (Mar '23) to 20.0× (Jun '26).
The dividend yield has fallen from 3.0% (Mar '23) to 2.5% (Jun '26).
Price / earnings (P/E)
P/E
Dividend yield (%)
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.