Company Valuation: Independent Bank Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 2,695 3,854 2,886 2,728 3,623 3,846 -
Change - 43.01% -25.11% -5.48% 32.83% 6.16% -
Enterprise Value (EV) 2,695 3,854 2,886 2,728 3,623 3,846 3,846
Change - 43.01% -25.11% -5.48% 32.83% 6.16% 0%
P/E 23.5x 14.8x 12.1x 14.2x 16.5x 11.4x 9.76x
PBR 1.28x 1.33x 0.97x 0.91x 1.01x 1.07x 1x
PEG - 0.2x -2.55x -0.9x -9.32x 0.2x 0.6x
Capitalization / Revenue 5.31x 5.29x 3.95x 3.95x 4.23x 3.72x 3.54x
EV / Revenue 0x 0x 0x 0x 0x 3.72x 3.54x
EV / EBITDA - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 8.1x 7.36x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Dividend per Share 2 1.92 2.08 2.2 2.28 2.36 2.54 2.584
Rate of return 2.35% 2.46% 3.34% 3.55% 3.23% 3.13% 3.18%
EPS 2 3.47 5.69 5.42 4.52 4.44 7.102 8.32
Distribution rate 55.3% 36.6% 40.6% 50.4% 53.2% 35.8% 31.1%
Net sales 1 507.4 727.9 731.1 689.7 857.5 1,034 1,088
EBITDA - - - - - - -
EBIT 1 266.4 361.4 338.4 283.4 332.7 474.6 522.8
Net income 1 121 263.8 239.5 192.1 205.1 338.5 374.9
Net Debt - - - - - - -
Reference price 2 81.53 84.43 65.81 64.19 73.08 81.20 81.20
Nbr of stocks (in thousands) 33,050 45,642 43,853 42,495 49,577 47,369 -
Announcement Date 20/01/22 19/01/23 18/01/24 16/01/25 22/01/26 - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.43x - - 3.13% 3.85B
6.63x - - 4.83% 355B
16.66x - - 1.01% 101B
15.37x - - 4.37% 81.61B
7.75x - - 6.49% 63.19B
5.04x - - 5.96% 56.03B
17.37x - - 3.05% 48.35B
12.78x - - 5.52% 42.84B
8.98x - - 4.79% 40.24B
11.14x - - 3.66% 38.1B
Average 11.32x 4.28% 82.99B
Weighted average by Cap. 9.97x 4.39%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. INDB Stock
  4. Valuation Independent Bank Corp.
-40%: Exceptional extension
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