Independent Bank (IBCP) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Independent Bank had a P/E ratio of 9.82 (down from 10.90), return on equity of 14.3% (down from 15.6%), debt-to-equity of 0.29 (down from 0.33) and return on assets of 1.3% (unchanged). Its dividend yield was 3.18% with a payout ratio of 31.5%.

Independent Bank Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	9.82	10.90	9.18	7.95	8.07	7.20
Forward P/E	9.65	11.48	9.60	8.45	10.47	8.83
P/S Ratio	3.07	3.34	2.70	2.44	2.44	2.11
P/B Ratio	1.34	1.60	1.34	1.45	1.27	1.04
Price/Tangible Book	1.42	1.71	1.45	1.59	1.38	1.13
Price/FCF	9.59	13.18	7.79	5.67	4.87	7.44
Price/OCF	8.78	11.52	7.17	5.33	4.61	6.89
PEG Ratio	1.37	1.37	1.37	1.37	1.37	5.09
Enterprise Value Ratios
Profitability & Returns
Return on Equity (ROE)	14.32%	15.55%	15.71%	16.98%	15.96%	15.18%
Return on Assets (ROA)	1.26%	1.26%	1.15%	1.31%	1.41%	1.45%
Leverage & Solvency Ratios
Debt/Equity	0.29	0.33	0.39	0.55	0.30	0.33
Debt/FCF	2.05	2.71	2.25	2.14	1.17	2.37
Liquidity Ratios
Efficiency Ratios
Yield & Distribution Ratios
Earnings Yield	10.18%	9.18%	10.89%	12.57%	12.38%	13.89%
FCF Yield	10.42%	7.59%	12.83%	17.65%	20.54%	13.43%
Dividend Yield	3.18%	2.76%	3.54%	3.68%	3.50%	5.25%
Payout Ratio	31.51%	30.01%	32.72%	29.30%	28.87%	31.38%
Buyback Yield	0.68%	0.30%	0.59%	2.34%	1.86%	4.15%
Total Return	3.85%	3.06%	4.13%	6.02%	5.37%	9.40%

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Independent Bank Financial Ratios

What is Independent Bank's P/E ratio?

Independent Bank's P/E ratio was 9.82 for fiscal 2025 (period ended Dec 31, 2025). It was 10.90 a year earlier.

What is Independent Bank's return on equity?

Independent Bank's return on equity (ROE) was 14.3% for fiscal 2025 (period ended Dec 31, 2025). It was 15.6% a year earlier.

What is Independent Bank's debt-to-equity ratio?

Independent Bank's debt-to-equity ratio was 0.29 for fiscal 2025 (period ended Dec 31, 2025). It was 0.33 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition