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Independent Bank Corp. Valuation Multiples
Discover revenue and EBITDA valuation multiples for Independent Bank Corp. and similar public comparables like CR Crédit Agricole Paris Île-de-France, Interbank Perú, United Community Banks, BancFirst and more.
Independent Bank Corp. Overview
About Independent Bank Corp.
Independent Bank Corp is a bank holding company and the sole shareholder of its bank, the Rockland Trust Company. Rockland is a community-oriented commercial bank. The bank provides a variety of banking, investment and financial services, operating with various retail branches, as well as a network of commercial and residential lending centers and investment management offices majorly in Eastern Massachusetts, Worcester County, and Rhode Island. The bank's loan portfolio constitutes the bulk of the bank's total assets. Its borrowers consist mostly of small to medium-size businesses and consumers, majority of which are made to its market area in eastern Massachusetts and Rhode Island. The bank's loan portfolio is predominantly in commercial loans.
Founded
1985
HQ
Employees
1.8K
Website
Sectors
Financials (LTM)
EV
$5B
Independent Bank Corp. Financials
Independent Bank Corp. reported last 12-month revenue of $890M.
In the same LTM period, Independent Bank Corp. generated $232M in net income.
Revenue (LTM)
Independent Bank Corp. P&L
In the most recent fiscal year, Independent Bank Corp. reported revenue of $858M and net income of $205M.
Independent Bank Corp. expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $890M | XXX | $858M | XXX | XXX | XXX |
| EBIT Margin | 37% | XXX | 35% | XXX | XXX | XXX |
| Net Profit | $232M | XXX | $205M | XXX | XXX | XXX |
| Net Margin | 26% | XXX | 24% | XXX | XXX | XXX |
| Net Debt | — | — | $54M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Independent Bank Corp. Stock Performance
Independent Bank Corp. has current market cap of $4B, and enterprise value of $5B.
Market Cap Evolution
Independent Bank Corp.'s stock price is $79.31.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $5B | $4B | 0.0% | XXX | XXX | XXX | $4.22 |
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Start Free TrialIndependent Bank Corp. Valuation Multiples
Independent Bank Corp. trades at 5.3x EV/Revenue multiple.
EV / Revenue (LTM)
Independent Bank Corp. Financial Valuation Multiples
As of March 7, 2026, Independent Bank Corp. has market cap of $4B and EV of $5B.
Equity research analysts estimate Independent Bank Corp.'s 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Independent Bank Corp. has a P/E ratio of 16.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $4B | XXX | $4B | XXX | XXX | XXX |
| EV (current) | $5B | XXX | $5B | XXX | XXX | XXX |
| EV/Revenue | 5.3x | XXX | 5.5x | XXX | XXX | XXX |
| EV/EBIT | 14.1x | XXX | 15.7x | XXX | XXX | XXX |
| P/E | 16.6x | XXX | 18.8x | XXX | XXX | XXX |
| EV/FCF | — | XXX | 19.6x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Independent Bank Corp. Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Independent Bank Corp. Margins & Growth Rates
Independent Bank Corp.'s revenue in the last 12 month grew by 18%.
Independent Bank Corp.'s revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.3M for the same period.
Independent Bank Corp. Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 18% | XXX | 21% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 35% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 1% | XXX | — | XXX | XXX | XXX |
| Opex to Revenue | 60% | XXX | — | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Independent Bank Corp. Public Comps
See public comps and valuation multiples for other Commercial Banking comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| CR Crédit Agricole Paris Île-de-France | XXX | XXX | XXX | XXX | XXX | XXX |
| Interbank Perú | XXX | XXX | XXX | XXX | XXX | XXX |
| United Community Banks | XXX | XXX | XXX | XXX | XXX | XXX |
| BancFirst | XXX | XXX | XXX | XXX | XXX | XXX |
| BanBajío | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Independent Bank Corp. M&A Activity
Independent Bank Corp. acquired XXX companies to date.
Last acquisition by Independent Bank Corp. was on XXXXXXXX, XXXXX. Independent Bank Corp. acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Independent Bank Corp.
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialIndependent Bank Corp. Investment Activity
Independent Bank Corp. invested in XXX companies to date.
Independent Bank Corp. made its latest investment on XXXXXXXX, XXXXX. Independent Bank Corp. invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Independent Bank Corp.
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Independent Bank Corp.
| When was Independent Bank Corp. founded? | Independent Bank Corp. was founded in 1985. |
| Where is Independent Bank Corp. headquartered? | Independent Bank Corp. is headquartered in United States. |
| How many employees does Independent Bank Corp. have? | As of today, Independent Bank Corp. has over 1K employees. |
| Who is the CEO of Independent Bank Corp.? | Independent Bank Corp.'s CEO is Jeffrey J. Tengel. |
| Is Independent Bank Corp. publicly listed? | Yes, Independent Bank Corp. is a public company listed on Nasdaq. |
| What is the stock symbol of Independent Bank Corp.? | Independent Bank Corp. trades under INDB ticker. |
| When did Independent Bank Corp. go public? | Independent Bank Corp. went public in 1986. |
| Who are competitors of Independent Bank Corp.? | Independent Bank Corp. main competitors are CR Crédit Agricole Paris Île-de-France, Interbank Perú, United Community Banks, BancFirst. |
| What is the current market cap of Independent Bank Corp.? | Independent Bank Corp.'s current market cap is $4B. |
| What is the current revenue of Independent Bank Corp.? | Independent Bank Corp.'s last 12 months revenue is $890M. |
| What is the current revenue growth of Independent Bank Corp.? | Independent Bank Corp. revenue growth (NTM/LTM) is 18%. |
| What is the current EV/Revenue multiple of Independent Bank Corp.? | Current revenue multiple of Independent Bank Corp. is 5.3x. |
| Is Independent Bank Corp. profitable? | Yes, Independent Bank Corp. is net-income-positive (as of the last 12 months). |
| What is the current net income of Independent Bank Corp.? | Independent Bank Corp.'s last 12 months net income is $232M. |
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