INDEPENDENT BANK CORP (INDB)
Q1-CY2026Q4-CY2025Q3-CY2025Q2-CY2025Q1-CY2025Q4-CY2024Q3-CY2024Q2-CY2024Q1-CY2024Q4-CY2023Q3-CY2023Q2-CY2023Q1-CY2023Q4-CY2022Q3-CY2022Q2-CY2022Q1-CY2022Q4-CY2021Q3-CY2021Q2-CY2021Q1-CY2021Q4-CY2020Q3-CY2020Q2-CY2020Q1-CY2020Q4-CY2019Q3-CY2019Q2-CY2019Q1-CY2019Q4-CY2018Q3-CY2018Q2-CY2018Q1-CY2018Q4-CY2017Q3-CY2017Q2-CY2017Q1-CY2017Q4-CY2016Q3-CY2016Q2-CY2016Q1-CY2016Q4-CY2015Q3-CY2015Q2-CY2015Q1-CY2015Q4-CY2014Q3-CY2014Q2-CY2014Q1-CY2014
Balance Sheet Date2025-Dec-312025-Sep-302025-Jun-302025-Mar-312024-Dec-312024-Sep-302024-Jun-302024-Mar-312023-Dec-312023-Sep-302023-Jun-302023-Mar-312022-Dec-312022-Sep-302022-Jun-302022-Mar-312021-Dec-312021-Sep-302021-Jun-302021-Mar-312020-Dec-312020-Sep-302020-Jun-302020-Mar-312019-Dec-312019-Sep-302019-Jun-302019-Mar-312018-Dec-312018-Sep-302018-Jun-302018-Mar-312017-Dec-312017-Sep-302017-Jun-302017-Mar-312016-Dec-312016-Sep-302016-Jun-302016-Mar-312015-Dec-312015-Sep-302015-Jun-302015-Mar-312014-Dec-312014-Sep-302014-Jun-302014-Mar-31
Fiscal PeriodQ4-FY2025Q3-FY2025Q2-FY2025Q1-FY2025Q4-FY2024Q3-FY2024Q2-FY2024Q1-FY2024Q4-FY2023Q3-FY2023Q2-FY2023Q1-FY2023Q4-FY2022Q3-FY2022Q2-FY2022Q1-FY2022Q4-FY2021Q3-FY2021Q2-FY2021Q1-FY2021Q4-FY2020Q3-FY2020Q2-FY2020Q1-FY2020Q4-FY2019Q3-FY2019Q2-FY2019Q1-FY2019Q4-FY2018Q3-FY2018Q2-FY2018Q1-FY2018Q4-FY2017Q3-FY2017Q2-FY2017Q1-FY2017Q4-FY2016Q3-FY2016Q2-FY2016Q1-FY2016Q4-FY2015Q3-FY2015Q2-FY2015Q1-FY2015Q4-FY2014Q3-FY2014Q2-FY2014Q1-FY2014
Total Revenue253,930,000$243,742,000$181,804,000$178,044,000$176,853,000$175,252,000$170,256,000$167,382,000$177,164,000$183,423,000$183,303,000$187,240,000$200,657,000$190,796,000$172,759,000$163,704,000$151,710,000$116,548,000$118,321,000$120,830,000$118,911,000$120,230,000$119,288,000$120,739,000$133,290,000$136,414,000$134,667,000$104,058,000$103,783,000$99,498,000$95,055,000$88,334,000$89,746,000$87,843,000$85,153,000$79,112,000$80,514,000$78,084,000$77,628,000$74,046,000$74,709,000$74,292,000$74,008,000$67,806,000$68,293,000$66,661,000$65,910,000$65,122,000$
QoQ%4.18%34.07%2.11%.67%.91%2.93%1.72%(5.52%)(3.41%).07%(2.10%)(6.69%)5.17%10.44%5.53%7.91%30.17%(1.50%)(2.08%)1.61%(1.10%).79%(1.20%)(9.42%)(2.29%)1.30%29.42%.27%4.31%4.67%7.61%(1.57%)2.17%3.16%7.64%(1.74%)3.11%.59%4.84%(.89%).56%.38%9.15%(.71%)2.45%1.14%1.21%1.17%
YoY%43.58%39.08%6.78%6.37%(.18%)(4.46%)(7.12%)(10.61%)(11.71%)(3.86%)6.10%14.38%32.26%63.71%46.01%35.48%27.58%(3.06%)(.81%).08%(10.79%)(11.86%)(11.42%)16.03%28.43%37.10%41.67%17.80%15.64%13.27%11.63%11.66%11.47%12.50%9.69%6.84%7.77%5.10%4.89%9.20%9.40%11.45%12.29%4.12%6.10%5.27%5.78%7.49%
Cost Of Revenue4,750,000$38,519,000$7,200,000$15,000,000$7,500,000$19,500,000$4,250,000$5,000,000$5,500,000$5,500,000$5,000,000$7,250,000$5,500,000$3,000,000$0$(2,000,000$)35,705,000$(10,000,000$)(5,000,000$)(2,500,000$)0$7,500,000$20,000,000$25,000,000$4,000,000$0$1,000,000$1,000,000$1,200,000$1,075,000$4,275,000$500,000$1,300,000$0$1,050,000$600,000$4,000,000$950,000$600,000$525,000$500,000$800,000$700,000$(500,000$)1,750,000$1,901,000$2,250,000$4,502,000$
Gross Profit249,180,000$205,223,000$174,604,000$163,044,000$169,353,000$155,752,000$166,006,000$162,382,000$171,664,000$177,923,000$178,303,000$179,990,000$195,157,000$187,796,000$172,759,000$165,704,000$116,005,000$126,548,000$123,321,000$123,330,000$118,911,000$112,730,000$99,288,000$95,739,000$129,290,000$136,414,000$133,667,000$103,058,000$102,583,000$98,423,000$90,780,000$87,834,000$88,446,000$87,843,000$84,103,000$78,512,000$76,514,000$77,134,000$77,028,000$73,521,000$74,209,000$73,492,000$73,308,000$68,306,000$66,543,000$64,760,000$63,660,000$60,620,000$
Gross Margin98.13%84.20%96.04%91.58%95.76%88.87%97.50%97.01%96.90%97.00%97.27%96.13%97.26%98.43%100.00%101.22%76.47%108.58%104.23%102.07%100.00%93.76%83.23%79.29%97.00%100.00%99.26%99.04%98.84%98.92%95.50%99.43%98.55%100.00%98.77%99.24%95.03%98.78%99.23%99.29%99.33%98.92%99.05%100.74%97.44%97.15%96.59%93.09%
Operating Expenses154,369,000$160,836,000$108,798,000$105,878,000$106,422,000$100,443,000$99,614,000$99,887,000$100,748,000$97,782,000$95,555,000$98,661,000$94,872,000$92,728,000$90,562,000$95,500,000$117,126,000$72,419,000$73,302,000$69,682,000$73,727,000$66,658,000$66,607,000$66,840,000$67,445,000$67,533,000$93,032,000$56,311,000$64,391,000$55,439,000$52,688,000$53,451,000$51,467,000$51,310,000$52,809,000$48,773,000$51,637,000$46,857,000$47,146,000$46,482,000$46,486,000$47,031,000$48,644,000$54,977,000$44,364,000$42,607,000$42,980,000$41,887,000$
Operating Income
Operating Margin
Interest Income
Interest Expenses85,049,000$91,409,000$70,696,000$66,415,000$71,659,000$74,821,000$73,938,000$70,606,000$62,073,000$53,048,000$46,147,000$27,937,000$15,772,000$7,370,000$3,262,000$3,187,000$3,391,000$2,925,000$3,348,000$4,053,000$5,362,000$7,036,000$8,867,000$13,076,000$13,710,000$15,026,000$16,125,000$9,018,000$7,618,000$6,641,000$5,999,000$5,278,000$5,044,000$4,705,000$4,378,000$4,207,000$4,676,000$4,640,000$4,627,000$4,850,000$4,985,000$5,183,000$5,269,000$5,180,000$5,007,000$4,805,000$5,232,000$5,374,000$
Income Before Tax75,335,000$44,387,000$65,806,000$57,166,000$50,034,000$55,309,000$66,392,000$62,495,000$54,803,000$80,141,000$82,748,000$81,329,000$100,285,000$95,068,000$82,197,000$70,204,000$(1,121,000$)54,129,000$50,019,000$53,648,000$45,184,000$46,072,000$32,681,000$28,899,000$61,845,000$68,881,000$40,635,000$46,747,000$38,192,000$42,984,000$40,367,000$34,383,000$36,979,000$36,533,000$31,294,000$29,739,000$24,877,000$30,277,000$29,882,000$27,039,000$27,724,000$26,461,000$24,664,000$13,329,000$22,178,000$22,153,000$20,680,000$18,733,000$
Tax Expenses10,543,000$11,199,000$7,779,000$2,148,000$14,368,000$17,036,000$10,007,000$11,522,000$8,258,000$9,969,000$9,249,000$6,828,000$14,915,000$12,681,000$10,731,000$9,014,000$7,698,000$9,793,000$9,508,000$8,428,000$8,268,000$7,867,000$7,213,000$3,869,000$6,201,000$6,415,000$5,934,000$5,350,000$
Net Income75,335,000$34,262,000$51,101,000$44,424,000$50,034,000$42,947,000$51,330,000$47,770,000$54,803,000$60,808,000$62,644,000$61,247,000$77,043,000$71,897,000$61,776,000$53,097,000$1,702,000$40,007,000$37,572,000$41,711,000$34,641,000$34,873,000$24,902,000$26,751,000$47,477,000$51,845,000$30,628,000$35,225,000$29,934,000$33,015,000$31,118,000$27,555,000$22,064,000$23,852,000$20,563,000$20,725,000$17,179,000$20,484,000$20,374,000$18,611,000$19,455,000$18,594,000$17,451,000$9,460,000$15,978,000$15,738,000$14,746,000$13,383,000$
Profit Margin29.67%14.06%28.11%24.95%28.29%24.51%30.15%28.54%30.93%33.15%34.18%32.71%38.40%37.68%35.76%32.44%1.12%34.33%31.75%34.52%29.13%29.01%20.88%22.16%35.62%38.01%22.74%33.85%28.84%33.18%32.74%31.19%24.59%27.15%24.15%26.20%21.34%26.23%26.25%25.13%26.04%25.03%23.58%13.95%23.40%23.61%22.37%20.55%
TTM23.92%23.04%26.48%26.95%27.85%28.53%30.75%31.78%32.76%34.69%35.81%36.19%36.24%27.76%25.89%24.06%23.85%32.43%31.11%28.40%25.29%27.15%29.62%29.84%32.49%30.83%29.14%32.13%31.45%30.53%28.97%26.79%25.51%24.75%24.45%24.98%24.70%25.92%25.62%24.95%22.34%21.62%21.18%20.81%22.50%20.78%20.63%20.14%
Earnings to Minority
Earnings to Common Shareholders75,335,000$34,262,000$51,101,000$44,424,000$50,034,000$42,947,000$51,330,000$47,770,000$54,803,000$60,808,000$62,644,000$61,247,000$77,043,000$71,897,000$61,776,000$53,097,000$1,702,000$40,007,000$37,572,000$41,711,000$34,641,000$34,873,000$24,902,000$26,751,000$47,477,000$51,845,000$30,628,000$35,225,000$29,934,000$33,015,000$31,118,000$27,555,000$22,064,000$23,852,000$20,563,000$20,725,000$17,179,000$20,484,000$20,374,000$18,611,000$19,455,000$18,594,000$17,451,000$9,460,000$15,978,000$15,738,000$14,746,000$13,383,000$
QoQ%119.88%(32.95%)15.03%(11.21%)16.50%(16.33%)7.45%(12.83%)(9.88%)(2.93%)2.28%(20.50%)7.16%16.38%16.35%3,019.68%(95.75%)6.48%(9.92%)20.41%(.67%)40.04%(6.91%)(43.66%)(8.43%)69.27%(13.05%)17.68%(9.33%)6.10%12.93%24.89%(7.50%)16.00%(.78%)20.64%(16.14%).54%9.47%(4.34%)4.63%6.55%84.47%(40.79%)1.53%6.73%10.19%26.40%
YoY%50.57%(20.22%)(.45%)(7.00%)(8.70%)(29.37%)(18.06%)(22.00%)(28.87%)(15.42%)1.41%15.35%4,426.62%79.71%64.42%27.30%(95.09%)14.72%50.88%55.92%(27.04%)(32.74%)(18.70%)(24.06%)58.61%57.04%(1.58%)27.84%35.67%38.42%51.33%32.96%28.44%16.44%.93%11.36%(11.70%)10.17%16.75%96.73%21.76%18.15%18.34%(29.31%)50.91%7.39%15.58%9.23%
Earnings Per Share, Basic1.52$0.69$1.20$1.04$1.18$1.01$1.21$1.12$1.26$1.38$1.42$1.36$1.69$1.57$1.32$1.12$0.04$1.21$1.14$1.26$1.05$1.06$0.76$0.78$1.38$1.51$0.89$1.25$1.08$1.20$1.13$1.00$0.80$0.87$0.75$0.77$0.64$0.78$0.77$0.71$0.74$0.71$0.67$0.38$0.67$0.66$0.62$0.56$
Earnings Per Share, Diluted1.52$0.69$1.20$1.04$1.18$1.01$1.21$1.12$1.26$1.38$1.42$1.36$1.69$1.57$1.32$1.12$0.04$1.21$1.14$1.26$1.05$1.06$0.76$0.78$1.38$1.51$0.89$1.25$1.07$1.20$1.13$1.00$0.80$0.87$0.75$0.76$0.64$0.78$0.77$0.71$0.74$0.71$0.67$0.38$0.66$0.66$0.61$0.56$
Unlevered FCF Per Share, Basic1.52$0.99$2.40$0.27$0.86$1.52$1.46$1.10$1.09$1.78$2.00$1.05$2.44$2.87$1.91$1.42$0.60$0.90$1.39$1.97$1.50$0.64$(0.19$)(0.36$)2.17$4.29$(1.52$)1.08$1.26$1.23$1.12$1.13$1.31$1.27$0.11$1.18$1.83$0.90$0.43$(0.05$)0.91$0.84$1.05$0.24$0.89$1.45$0.60$0.51$
Unlevered FCF Per Share, Diluted1.52$0.99$2.40$0.27$0.86$1.52$1.46$1.10$1.09$1.78$2.00$1.05$2.44$2.87$1.91$1.42$0.60$0.90$1.39$1.97$1.50$0.64$(0.19$)(0.36$)2.16$4.28$(1.52$)1.08$1.26$1.22$1.12$1.13$1.31$1.26$0.11$1.18$1.82$0.90$0.43$(0.05$)0.91$0.83$1.04$0.24$0.88$1.45$0.60$0.51$
Average Shares, Basic49,569,94249,934,57442,623,97842,550,27442,494,15542,481,44142,468,65842,553,71443,457,42144,135,48744,129,15245,004,10045,616,79545,839,55546,665,10147,366,75340,415,51033,043,71633,033,57832,995,33232,964,09032,951,91832,944,76134,184,43134,374,95334,361,17634,313,49228,106,18427,815,43727,537,84127,526,65327,486,57327,445,73927,436,79227,257,79927,029,64026,710,02926,324,31626,304,12926,275,32326,238,00426,200,62126,149,59324,959,86523,968,32023,911,67823,897,41323,819,065
Average Shares, Diluted49,593,56349,957,00742,641,13142,572,62742,514,58542,493,06342,472,96642,566,59043,466,89544,146,90444,136,72545,023,66445,636,88445,856,41146,679,19747,387,46440,414,52433,059,27033,054,84833,025,43032,990,43832,976,67632,972,85934,221,25834,421,19834,400,56634,355,37028,160,65027,874,01327,601,34027,581,17827,553,95427,523,35427,513,09927,332,29627,110,92326,770,05126,377,38826,352,01426,318,73226,290,77626,264,11426,221,41225,040,08024,055,13224,002,36323,991,97323,919,238
EBIT160,384,000$135,796,000$136,502,000$123,581,000$121,693,000$130,130,000$140,330,000$133,101,000$116,876,000$133,189,000$128,895,000$109,266,000$116,057,000$102,438,000$85,459,000$73,391,000$2,270,000$57,054,000$53,367,000$57,701,000$50,546,000$53,108,000$41,548,000$41,975,000$75,555,000$83,907,000$56,760,000$55,765,000$45,810,000$49,625,000$46,366,000$39,661,000$42,023,000$41,238,000$35,672,000$33,946,000$29,553,000$34,917,000$34,509,000$31,889,000$32,709,000$31,644,000$29,933,000$18,509,000$27,185,000$26,958,000$25,912,000$24,107,000$
EBITDA170,270,000$148,599,000$145,663,000$133,873,000$131,082,000$140,445,000$151,226,000$143,390,000$125,403,000$142,381,000$137,645,000$118,899,000$125,328,000$112,009,000$95,297,000$83,510,000$10,508,000$65,286,000$61,493,000$65,929,000$56,737,000$60,067,000$48,668,000$48,967,000$81,075,000$92,804,000$61,704,000$59,866,000$49,743,000$53,300,000$50,206,000$43,842,000$46,286,000$45,281,000$39,569,000$37,503,000$33,178,000$38,404,000$38,846,000$34,794,000$35,689,000$34,583,000$33,219,000$21,654,000$30,111,000$29,987,000$29,308,000$26,864,000$