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Independent Bank Corporation Financial Ratios 2025-2008 | IBCP
Brief overview of Independent Bank Corporation's multiples and efficiency
The comparison uses the five latest available annual observations between 2021 and 2025.
The valuation comparison uses P/E 38.25x (median 8.78x), P/B 1.41x (median 1.34x), P/CF 9.27x (median 6.86x). The current ratio basket stands about 35.1% above the five-year base, increasing sensitivity to weak reports.
The 1/P/E calculation produces a 2.6% earnings yield. It does not capture future growth or capital structure.
End-period return metrics are ROE 3.7%, ROA 0.3%. Business quality is below comfortable levels on current returns. Better margins or turnover are needed.
PEG is 10.32x. Price is well ahead of embedded growth, making market expectations demanding.
For this sector, valuation ratios are useful only alongside capital adequacy, reserves and credit-portfolio quality.
Overall picture
Independent Bank Corporation's profile looks stretched: price anticipates improvement that current quality ratios do not yet confirm.
Annual Financial Ratios Independent Bank Corporation
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
P/E |
38.2 | 35.8 | 8.8 | 7.4 | 8.2 | 7.9 | 10.7 | 13.0 | 23.9 | 19.7 | 17.2 | 15.6 | 2.4 | 1.8 | -0.7 | -0.0 | - | - |
P/S |
22.1 | 20.7 | 15.8 | 14.8 | 17.7 | 18.5 | 3.0 | 3.4 | 3.8 | 3.8 | 3.2 | 2.7 | 1.7 | 0.4 | 0.1 | - | - | - |
EPS |
0.9 | 0.9 | 2.8 | 3 | 2.9 | 2.6 | 2.0 | 1.7 | 1.0 | 1.1 | 0.9 | 0.8 | 5.9 | 2.5 | -2.9 | -4.1 | -39.6 | - |
EV (Enterprise Value) |
5.57 B | 5.42 B | 5.21 B | 5.04 B | 4.71 B | 4.14 B | 3.65 B | 3.46 B | 2.96 B | 2.67 B | 2.42 B | 2.21 B | 2.05 B | 1.76 B | 1.88 B | 2.03 B | -289 M | -57.7 M |
EBITDA per Share |
0.48 | 0.48 | 0.48 | 0.51 | 0.56 | 0.42 | - | - | - | - | - | - | - | - | - | -5.45 K | - | - |
EV/EBITDA |
562.8 | 542.2 | 519.8 | 466.0 | 386.9 | 12.6 | - | - | - | - | - | - | - | - | - | -73.3 | 6.7 | - |
PEG |
10.32 | - | - | - | - | 0.34 | 0.55 | 0.17 | -2.53 | 0.96 | 1.51 | -0.18 | 0.02 | -0.01 | 0.03 | - | - | - |
P/B |
1.4 | 1.5 | 1.3 | 1.3 | 1.3 | 1.1 | 1.4 | 1.5 | 1.8 | 1.8 | 1.4 | 1.1 | 0.8 | 0.4 | 0.1 | 0.0 | - | - |
P/CF |
9.3 | 10.5 | 6.9 | 4.9 | 4.7 | 7.6 | 17.1 | 12.7 | 14.2 | 21.9 | 17.5 | 32.1 | 4.3 | 2.0 | 0.4 | -0.0 | - | - |
ROE % |
3.69 | 4.06 | 14.60 | 18.23 | 15.78 | 14.42 | 13.26 | 11.75 | 7.73 | 9.14 | 7.97 | 7.20 | 33.47 | 19.41 | -19.68 | -14.03 | -82.13 | - |
ROA % |
0.34 | 0.35 | 1.12 | 1.27 | 1.34 | 1.34 | 1.30 | 1.19 | 0.73 | 0.89 | 0.83 | 0.80 | 3.51 | 1.29 | -0.88 | -0.66 | - | - |
Current Ratio |
1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 0.0 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.2 | 0.2 | 1.0 | - | - |
DSO |
- | - | - | - | - | 63.4 | 94.9 | 83.2 | 84.0 | 193.0 | 104.1 | 107.8 | 98.9 | 116.1 | 124.1 | - | - | - |
Operating Cycle |
- | - | - | - | - | 63.4 | - | - | - | - | - | - | - | - | - | - | - | - |
Cash Conversion Cycle |
- | - | - | - | - | 63.4 | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Quarterly Financial Ratios Independent Bank Corporation
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPS |
0.91 | 0.82 | 0.85 | 0.81 | 0.74 | - | 0.66 | 0.89 | 0.77 | - | 0.84 | 0.7 | 0.62 | - | 0.82 | 0.62 | 0.85 | - | 0.74 | 0.57 | 1.01 | - | 0.9 | 0.67 | 0.22 | - | 0.55 | 0.47 | 0.4 | - | 0.49 | 0.37 | 0.43 | - | 0.32 | 0.28 | 0.28 | - | 0.3 | 0.3 | 0.19 | - | 0.22 | 0.25 | 0.16 | - | 0.21 | 0.26 | 0.14 | - | 0.73 | 6.56 | 0.51 | - | 0.61 | 0.38 | 0.29 | - | -0.61 | -0.12 | -1.06 |
EBITDA per Share |
0.23 | 0.12 | 0.05 | 0.07 | 0.11 | - | 0.06 | 0.06 | 0.12 | - | - | - | 0.11 | - | 0.4 | - | 0.14 | - | 0.43 | - | 0.14 | - | 0.27 | 0.19 | 0.08 | - | 0.2 | 0.13 | 0.06 | - | 0.19 | 0.13 | 0.09 | - | 0.24 | 0.15 | 0.06 | - | 0.18 | 0.12 | 0.06 | - | 0.15 | 0.1 | 0.05 | - | 0.08 | 0.04 | 0.02 | - | -0.15 | -0.18 | -0.11 | - | -0.4 | -0.27 | -154 | - | -1.11 | -0.78 | -0.44 |
ROE % |
14.03 | 13.80 | 13.55 | 14.29 | 14.54 | 11.21 | 15.88 | 16.77 | 16.00 | 12.15 | 17.36 | 16.61 | 17.72 | 14.19 | 18.18 | 16.10 | 17.86 | 12.81 | 17.84 | 17.64 | 15.74 | 10.05 | 13.61 | 11.65 | 10.53 | 9.30 | 12.81 | 11.86 | 11.50 | 8.82 | 11.41 | 10.13 | 9.78 | 7.08 | 9.64 | 9.64 | 9.05 | 6.79 | 8.80 | 8.48 | 7.40 | 5.75 | 7.72 | 8.13 | 7.15 | 5.64 | 7.15 | 32.56 | 32.65 | 31.39 | 36.17 | 37.87 | 13.09 | 10.58 | 6.57 | 1.83 | -8.60 | -11.19 | -4.02 | 0.04 | -7.21 |
ROA % |
1.27 | 1.23 | 1.19 | 1.22 | 1.21 | 0.92 | 1.26 | 1.28 | 1.18 | 0.88 | 1.23 | 1.27 | 1.33 | 1.07 | 1.35 | 1.00 | 1.50 | 1.12 | 1.59 | 1.59 | 1.43 | 0.93 | 1.28 | 1.12 | 1.03 | 0.91 | 1.27 | 1.18 | 1.15 | 0.89 | 1.14 | 0.99 | 0.95 | 0.67 | 0.92 | 0.93 | 0.88 | 0.66 | 0.87 | 0.86 | 0.76 | 0.60 | 0.82 | 0.88 | 0.78 | 0.63 | 0.79 | 3.44 | 3.43 | 3.29 | 3.61 | 3.66 | 0.97 | 0.71 | 0.53 | 0.21 | -0.32 | -0.50 | -0.18 | 0.00 | -0.32 |
Current Ratio |
1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | - | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 |
DSO |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 66.5 | - | 122.2 | 159.4 | 127.0 | - | 111.5 | 117.0 | 128.3 | - | 113.0 | 57.1 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Cycle |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 66.5 | - | 122.2 | 159.4 | 127.0 | - | 111.5 | 117.0 | 128.3 | - | 113.0 | 57.1 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash Conversion Cycle |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 66.5 | - | 122.2 | 159.4 | 127.0 | - | 111.5 | 117.0 | 128.3 | - | 113.0 | 57.1 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Multiples are an important financial analysis tool for the company Independent Bank Corporation, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.
Advantages of Using Financial Ratios- Simplified Data Analysis
Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition. - Comparability Between Companies
Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations. - Identification of Trends and Issues
Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks. - Decision Support
Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions. - Accelerated Assessment of Investment Attractiveness
Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.
Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.
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