Independent Financial Statements From 2010 to 2025

Independent Bank Balance Sheet		Trends
Current Value Last Year Historical Average  10 Year Trend Common Stock Shares Outstanding 44.6 M 42.5 M 30 M Slightly volatile Total Assets 20.3 B 19.4 B 11.2 B Slightly volatile Short and Long Term Debt Total 420 M 701.4 M 393 M Pretty Stable Other Current Liabilities 16.1 B 15.3 B 8.6 B Slightly volatile Total Current Liabilities 16.1 B 15.3 B 8 B Slightly volatile Total Stockholder Equity 3.1 B 3 B 1.5 B Slightly volatile Property Plant And Equipment Net 203 M 193.3 M 113.1 M Slightly volatile Retained Earnings 1.2 B 1.2 B 592.8 M Slightly volatile Cash 253.5 M 219.9 M 417.8 M Slightly volatile Non Current Assets Total 20 B 19 B 8.6 B Slightly volatile Other Assets 18.9 B 18 B 9.1 B Slightly volatile Cash And Short Term Investments 520.5 M 367.2 M 950.2 M Slightly volatile Liabilities And Stockholders Equity 20.3 B 19.4 B 11.2 B Slightly volatile Non Current Liabilities Total 1.1 B 1.1 B 492 M Slightly volatile Other Stockholder Equity 2 B 1.9 B 948.8 M Slightly volatile Total Liabilities 17.2 B 16.4 B 9.1 B Slightly volatile Property Plant And Equipment Gross 376.1 M 358.2 M 158.3 M Slightly volatile Total Current Assets 348.8 M 367.2 M 2 B Very volatile Short Term Debt 1.4 B 1.3 B 339.7 M Slightly volatile Common Stock Total Equity 569.9 K 542.8 K 333.6 K Slightly volatile Common Stock 268.9 K 423 K 303.4 K Slightly volatile Other Liabilities 250.8 M 238.9 M 147.8 M Slightly volatile Accounts Payable 19.2 B 18.3 B 9.6 B Slightly volatile Long Term Debt 736.4 M 701.4 M 311 M Slightly volatile Other Current Assets 265.1 M 279 M 3.1 B Slightly volatile Intangible Assets 17.4 M 12.3 M 17.9 M Pretty Stable Property Plant Equipment 308.4 M 293.7 M 134.9 M Slightly volatile Short Term Investments 139.9 M 147.3 M 524.9 M Slightly volatile Good Will 1.2 B 1.1 B 491.1 M Slightly volatile Inventory 5.5 M 5.8 M 11.7 M Slightly volatile Net Tangible Assets 2.3 B 2.2 B 1.1 B Slightly volatile Retained Earnings Total Equity 505.9 M 881.7 M 513.7 M Slightly volatile Capital Surpluse 2.7 B 2.6 B 1.1 B Slightly volatile Long Term Investments 4.1 B 2.7 B 5 B Very volatile Non Current Liabilities Other 405.2 M 385.9 M 198.9 M Slightly volatile Short and Long Term Debt 103.4 M 94.5 M 99.6 M Pretty Stable Long Term Debt Total 136.8 M 215.5 M 141.4 M Slightly volatile Earning Assets 1.3 B 1.5 B 1.2 B Slightly volatile Net Receivables 4.5 M 4.7 M 557.5 M Very volatile Net Invested Capital 2.8 B 3.7 B 1.9 B Slightly volatile Capital Stock 428.4 K 423 K 336.6 K Slightly volatile
Independent Bank Income Statement		Trends
Current Value Last Year Historical Average  10 Year Trend Other Operating Expenses 763.4 M 727 M 320.4 M Slightly volatile Operating Income 259.5 M 247.1 M 154.3 M Slightly volatile EBIT 259.5 M 247.1 M 154.3 M Slightly volatile EBITDA 302.4 M 288 M 173.1 M Slightly volatile Net Income 201.7 M 192.1 M 116.2 M Slightly volatile Depreciation And Amortization 42.9 M 40.9 M 20.5 M Slightly volatile Selling General Administrative 256.8 M 244.5 M 145.2 M Slightly volatile Total Revenue 1 B 974.1 M 480.4 M Slightly volatile Gross Profit 679.2 M 646.9 M 405.2 M Slightly volatile Cost Of Revenue 343.6 M 327.3 M 88.5 M Slightly volatile Selling And Marketing Expenses 300.6 M 286.3 M 72.9 M Slightly volatile Net Income Applicable To Common Shares 318.6 M 303.4 M 132.5 M Slightly volatile Minority Interest 916.6 K 964.8 K 1.3 M Slightly volatile Net Income From Continuing Ops 129.7 M 192.1 M 114.2 M Slightly volatile Non Recurring 5.7 M 3.9 M 3.5 M Slightly volatile Tax Provision 52.7 M 55 M 41.7 M Slightly volatile Net Interest Income 433.8 M 561.7 M 340.8 M Slightly volatile Interest Income 510.3 M 852.8 M 395.4 M Slightly volatile Reconciled Depreciation 31.2 M 40.9 M 23 M Slightly volatile
Independent Bank Cash Flow Statement		Trends
Current Value Last Year Historical Average  10 Year Trend Free Cash Flow 220 M 209.5 M 138.5 M Slightly volatile Begin Period Cash Flow 254.8 M 224.3 M 416.8 M Slightly volatile Depreciation 42.9 M 40.9 M 21.2 M Slightly volatile Capital Expenditures 21.5 M 20.4 M 13.9 M Slightly volatile Total Cash From Operating Activities 241.4 M 229.9 M 152.5 M Slightly volatile Dividends Paid 101 M 96.2 M 48.3 M Slightly volatile
Financial Ratios		Trends
Current Value Last Year Historical Average  10 Year Trend Price To Sales Ratio 2.26 2.8004 3.7609 Slightly volatile Dividend Yield 0.019 0.0353 0.0229 Slightly volatile PTB Ratio 1.76 0.9114 1.3967 Pretty Stable Book Value Per Share 73.95 70.428 43.9188 Slightly volatile Free Cash Flow Yield 0.073 0.0768 0.1556 Slightly volatile Operating Cash Flow Per Share 5.68 5.41 4.6306 Slightly volatile Stock Based Compensation To Revenue 0.0063 0.0067 0.0081 Pretty Stable Capex To Depreciation 0.92 0.4998 0.7334 Very volatile PB Ratio 1.76 0.9114 1.3967 Pretty Stable Free Cash Flow Per Share 5.18 4.9292 4.1931 Slightly volatile Net Income Per Share 4.75 4.5197 3.4879 Slightly volatile Sales General And Administrative To Revenue 0.23 0.251 0.3105 Slightly volatile Capex To Revenue 0.0253 0.021 0.0301 Very volatile Cash Per Share 13.45 8.6394 30.1858 Pretty Stable POCF Ratio 9.62 11.865 13.1965 Pretty Stable Payout Ratio 0.26 0.5008 0.3772 Slightly volatile Capex To Operating Cash Flow 0.17 0.0889 0.1086 Pretty Stable PFCF Ratio 11.78 13.0224 15.1636 Pretty Stable PE Ratio 12.5 14.2024 16.8443 Very volatile Earnings Yield 0.0739 0.0704 0.0619 Very volatile Intangibles To Total Assets 0.0541 0.0515 0.0364 Slightly volatile Current Ratio 0.0228 0.024 0.1024 Pretty Stable Tangible Book Value Per Share 49.31 46.9603 30.2206 Slightly volatile Graham Number 88.86 84.6285 57.3549 Slightly volatile Shareholders Equity Per Share 73.95 70.428 43.9188 Slightly volatile Debt To Equity 0.22 0.2343 0.4231 Slightly volatile Capex Per Share 0.29 0.4808 0.4244 Slightly volatile Revenue Per Share 24.07 22.9214 15.601 Slightly volatile Interest Debt Per Share 24.64 23.3511 16.5736 Very volatile Debt To Assets 0.0344 0.0362 0.0453 Slightly volatile Enterprise Value Over EBITDA 10.33 11.1435 11.0885 Pretty Stable Short Term Coverage Ratios 1.16 1.1 0.8341 Slightly volatile Price Earnings Ratio 12.5 14.2024 16.8443 Very volatile Price Book Value Ratio 1.76 0.9114 1.3967 Pretty Stable Dividend Payout Ratio 0.26 0.5008 0.3772 Slightly volatile Price To Operating Cash Flows Ratio 9.62 11.865 13.1965 Pretty Stable Price To Free Cash Flows Ratio 11.78 13.0224 15.1636 Pretty Stable Effective Tax Rate 0.31 0.2227 0.2627 Pretty Stable Company Equity Multiplier 6.15 6.4727 9.4381 Slightly volatile Long Term Debt To Capitalization 0.37 0.1898 0.2154 Slightly volatile Total Debt To Capitalization 0.18 0.1898 0.2646 Slightly volatile Debt Equity Ratio 0.22 0.2343 0.4231 Slightly volatile Quick Ratio 0.0228 0.024 0.1024 Pretty Stable Dividend Paid And Capex Coverage Ratio 1.87 1.9713 4.7357 Slightly volatile Net Income Per E B T 0.58 0.7773 0.7304 Very volatile Cash Ratio 0.0136 0.0144 0.0469 Pretty Stable Operating Cash Flow Sales Ratio 0.19 0.236 0.3009 Pretty Stable Free Cash Flow Operating Cash Flow Ratio 0.68 0.9111 0.882 Slightly volatile Cash Flow Coverage Ratios 0.31 0.3278 0.6289 Pretty Stable Price To Book Ratio 1.76 0.9114 1.3967 Pretty Stable Fixed Asset Turnover 6.39 5.039 4.7939 Slightly volatile Capital Expenditure Coverage Ratio 10.75 11.2513 12.3704 Pretty Stable Price Cash Flow Ratio 9.62 11.865 13.1965 Pretty Stable Enterprise Value Multiple 10.33 11.1435 11.0885 Pretty Stable Debt Ratio 0.0344 0.0362 0.0453 Slightly volatile Cash Flow To Debt Ratio 0.31 0.3278 0.6289 Pretty Stable Price Sales Ratio 2.26 2.8004 3.7609 Slightly volatile Asset Turnover 0.0671 0.0503 0.0497 Slightly volatile Gross Profit Margin 0.58 0.664 0.817 Very volatile Price Fair Value 1.76 0.9114 1.3967 Pretty Stable
Independent Bank Valuation Data		Trends
Current Value Last Year Historical Average  10 Year Trend Market Cap 2.3 B 3.5 B 2.8 B Slightly volatile Enterprise Value 2.3 B 3.3 B 2.7 B Slightly volatile

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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether Independent Bank offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Independent Bank's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Independent Bank Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Independent Bank Stock:

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