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Side-by-side financial comparison of Astera Labs, Inc. (ALAB) and INDEPENDENT BANK CORP (INDB). Click either name above to swap in a different company.
Astera Labs, Inc. is the larger business by last-quarter revenue ($270.6M vs $212.5M, roughly 1.3× INDEPENDENT BANK CORP). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs 16.6%, a 18.8% gap on every dollar of revenue. On growth, Astera Labs, Inc. posted the faster year-over-year revenue change (91.8% vs 46.9%). Astera Labs, Inc. produced more free cash flow last quarter ($76.6M vs $75.5M). Over the past eight quarters, Astera Labs, Inc.'s revenue compounded faster (103.6% CAGR vs 24.3%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
ALAB vs INDB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $270.6M | $212.5M |
| Net Profit | $45.0M | $75.3M |
| Gross Margin | 75.6% | — |
| Operating Margin | 24.7% | — |
| Net Margin | 16.6% | 35.5% |
| Revenue YoY | 91.8% | 46.9% |
| Net Profit YoY | 82.0% | 50.6% |
| EPS (diluted) | $0.25 | $1.51 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $270.6M | $212.5M | ||
| Q3 25 | $230.6M | $203.3M | ||
| Q2 25 | $191.9M | $147.5M | ||
| Q1 25 | $159.4M | $145.5M | ||
| Q4 24 | $141.1M | $144.7M | ||
| Q3 24 | $113.1M | $141.7M | ||
| Q2 24 | $76.8M | $137.9M | ||
| Q1 24 | $65.3M | $137.4M |
| Q4 25 | $45.0M | $75.3M | ||
| Q3 25 | $91.1M | $34.3M | ||
| Q2 25 | $51.2M | $51.1M | ||
| Q1 25 | $31.8M | $44.4M | ||
| Q4 24 | $24.7M | $50.0M | ||
| Q3 24 | $-7.6M | $42.9M | ||
| Q2 24 | $-7.5M | $51.3M | ||
| Q1 24 | $-93.0M | $47.8M |
| Q4 25 | 75.6% | — | ||
| Q3 25 | 76.2% | — | ||
| Q2 25 | 75.8% | — | ||
| Q1 25 | 74.9% | — | ||
| Q4 24 | 74.0% | — | ||
| Q3 24 | 77.7% | — | ||
| Q2 24 | 77.9% | — | ||
| Q1 24 | 77.4% | — |
| Q4 25 | 24.7% | — | ||
| Q3 25 | 24.0% | 21.8% | ||
| Q2 25 | 20.7% | 44.6% | ||
| Q1 25 | 7.1% | 39.3% | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | -7.9% | 39.0% | ||
| Q2 24 | -31.7% | 48.1% | ||
| Q1 24 | -127.1% | 45.5% |
| Q4 25 | 16.6% | 35.5% | ||
| Q3 25 | 39.5% | 16.8% | ||
| Q2 25 | 26.7% | 34.6% | ||
| Q1 25 | 20.0% | 30.5% | ||
| Q4 24 | 17.5% | 34.6% | ||
| Q3 24 | -6.7% | 30.3% | ||
| Q2 24 | -9.8% | 37.2% | ||
| Q1 24 | -142.5% | 34.8% |
| Q4 25 | $0.25 | $1.51 | ||
| Q3 25 | $0.50 | $0.69 | ||
| Q2 25 | $0.29 | $1.20 | ||
| Q1 25 | $0.18 | $1.04 | ||
| Q4 24 | $1.23 | $1.18 | ||
| Q3 24 | $-0.05 | $1.01 | ||
| Q2 24 | $-0.05 | $1.21 | ||
| Q1 24 | $-1.77 | $1.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $167.6M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $3.6B |
| Total Assets | $1.5B | $24.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.6M | — | ||
| Q3 25 | $140.4M | — | ||
| Q2 25 | $162.3M | — | ||
| Q1 25 | $86.4M | — | ||
| Q4 24 | $79.6M | — | ||
| Q3 24 | $126.1M | — | ||
| Q2 24 | $421.1M | — | ||
| Q1 24 | $696.1M | — |
| Q4 25 | $1.4B | $3.6B | ||
| Q3 25 | $1.3B | $3.5B | ||
| Q2 25 | $1.1B | $3.1B | ||
| Q1 25 | $1.0B | $3.0B | ||
| Q4 24 | $964.8M | $3.0B | ||
| Q3 24 | $889.6M | $3.0B | ||
| Q2 24 | $845.3M | $2.9B | ||
| Q1 24 | $808.8M | $2.9B |
| Q4 25 | $1.5B | $24.9B | ||
| Q3 25 | $1.4B | $25.0B | ||
| Q2 25 | $1.3B | $20.0B | ||
| Q1 25 | $1.1B | $19.9B | ||
| Q4 24 | $1.1B | $19.4B | ||
| Q3 24 | $983.1M | $19.4B | ||
| Q2 24 | $915.5M | $19.4B | ||
| Q1 24 | $864.9M | $19.3B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $95.3M | $78.9M |
| Free Cash FlowOCF − Capex | $76.6M | $75.5M |
| FCF MarginFCF / Revenue | 28.3% | 35.5% |
| Capex IntensityCapex / Revenue | 6.9% | 1.6% |
| Cash ConversionOCF / Net Profit | 2.12× | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | $281.8M | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.3M | $78.9M | ||
| Q3 25 | $78.2M | $52.2M | ||
| Q2 25 | $135.4M | $106.7M | ||
| Q1 25 | $10.5M | $13.3M | ||
| Q4 24 | $39.7M | $42.9M | ||
| Q3 24 | $63.5M | $70.2M | ||
| Q2 24 | $29.8M | $65.6M | ||
| Q1 24 | $3.7M | $51.1M |
| Q4 25 | $76.6M | $75.5M | ||
| Q3 25 | $65.9M | $49.7M | ||
| Q2 25 | $133.3M | $102.5M | ||
| Q1 25 | $6.0M | $11.3M | ||
| Q4 24 | $24.3M | $36.5M | ||
| Q3 24 | $46.8M | $64.4M | ||
| Q2 24 | $28.5M | $61.9M | ||
| Q1 24 | $228.0K | $46.7M |
| Q4 25 | 28.3% | 35.5% | ||
| Q3 25 | 28.6% | 24.4% | ||
| Q2 25 | 69.5% | 69.5% | ||
| Q1 25 | 3.7% | 7.8% | ||
| Q4 24 | 17.2% | 25.2% | ||
| Q3 24 | 41.4% | 45.4% | ||
| Q2 24 | 37.1% | 44.9% | ||
| Q1 24 | 0.3% | 34.0% |
| Q4 25 | 6.9% | 1.6% | ||
| Q3 25 | 5.3% | 1.2% | ||
| Q2 25 | 1.1% | 2.9% | ||
| Q1 25 | 2.8% | 1.4% | ||
| Q4 24 | 10.9% | 4.4% | ||
| Q3 24 | 14.8% | 4.1% | ||
| Q2 24 | 1.7% | 2.7% | ||
| Q1 24 | 5.2% | 3.2% |
| Q4 25 | 2.12× | 1.05× | ||
| Q3 25 | 0.86× | 1.52× | ||
| Q2 25 | 2.64× | 2.09× | ||
| Q1 25 | 0.33× | 0.30× | ||
| Q4 24 | 1.61× | 0.86× | ||
| Q3 24 | — | 1.64× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 1.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
