Independent Bank (INDB) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Independent Bank had a P/E ratio of 17.66 (up from 14.20), return on equity of 6.3% (down from 6.5%), debt-to-equity of 0.27 (up from 0.27) and return on assets of 0.9% (down from 1.0%). Its dividend yield was 3.21% with a payout ratio of 50.6%.

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	17.66	14.20	12.05	14.61	22.27	19.87
Forward P/E	10.48	13.00	13.79	12.73	18.10	20.13
P/S Ratio	4.57	4.17	4.08	5.36	5.51	5.66
P/B Ratio	1.02	0.91	1.00	1.33	0.89	1.41
Price/Tangible Book	1.55	1.37	1.52	2.05	1.35	2.05
Price/FCF	15.16	13.02	11.05	9.65	16.33	46.26
Price/OCF	14.43	11.86	10.42	9.15	14.16	37.25
PEG Ratio	9.15	9.15	9.15	9.15	9.15	3.23
Enterprise Value Ratios
Profitability & Returns
Return on Equity (ROE)	6.26%	6.52%	8.28%	8.94%	5.13%	7.11%
Return on Assets (ROA)	0.93%	0.99%	1.24%	1.33%	0.72%	0.99%
Leverage & Solvency Ratios
Debt/Equity	0.27	0.27	0.46	0.09	0.07	0.18
Debt/FCF	4.02	3.84	5.08	0.65	1.34	5.75
Liquidity Ratios
Efficiency Ratios
Yield & Distribution Ratios
Earnings Yield	5.66%	7.04%	8.30%	6.85%	4.49%	5.03%
FCF Yield	6.60%	7.68%	9.05%	10.36%	6.12%	2.16%
Dividend Yield	3.21%	3.55%	3.27%	2.46%	3.37%	2.97%
Payout Ratio	50.65%	50.08%	40.92%	35.53%	51.85%	50.21%
Buyback Yield	-8.65%	3.81%	4.74%	-32.97%	-4.82%	-1.31%
Total Return	-5.45%	7.36%	8.00%	-30.50%	-1.44%	1.67%

Source: Company financial statements from annual and quarterly filings. Data as of Sep 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 17.66 for fiscal 2025 (period ended Dec 31, 2025). It was 14.20 a year earlier.

What is Independent Bank's return on equity?

Independent Bank's return on equity (ROE) was 6.3% for fiscal 2025 (period ended Dec 31, 2025). It was 6.5% a year earlier.

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

Independent Bank's debt-to-equity ratio was 0.27 for fiscal 2025 (period ended Dec 31, 2025). It was 0.27 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