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Side-by-side financial comparison of Claritev Corp (CTEV) and INDEPENDENT BANK CORP (INDB). Click either name above to swap in a different company.
Claritev Corp is the larger business by last-quarter revenue ($246.6M vs $212.5M, roughly 1.2× INDEPENDENT BANK CORP). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs -32.7%, a 68.1% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs 6.2%). INDEPENDENT BANK CORP produced more free cash flow last quarter ($75.5M vs $36.4M). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs 2.5%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
CTEV vs INDB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $246.6M | $212.5M |
| Net Profit | $-80.6M | $75.3M |
| Gross Margin | — | — |
| Operating Margin | -3.1% | — |
| Net Margin | -32.7% | 35.5% |
| Revenue YoY | 6.2% | 46.9% |
| Net Profit YoY | 41.6% | 50.6% |
| EPS (diluted) | $-4.88 | $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 | $246.6M | $212.5M | ||
| Q3 25 | $246.0M | $203.3M | ||
| Q2 25 | $241.6M | $147.5M | ||
| Q1 25 | $231.3M | $145.5M | ||
| Q4 24 | $232.1M | $144.7M | ||
| Q3 24 | $230.5M | $141.7M | ||
| Q2 24 | $233.5M | $137.9M | ||
| Q1 24 | $234.5M | $137.4M |
| Q4 25 | $-80.6M | $75.3M | ||
| Q3 25 | $-69.8M | $34.3M | ||
| Q2 25 | $-62.6M | $51.1M | ||
| Q1 25 | $-71.3M | $44.4M | ||
| Q4 24 | $-138.0M | $50.0M | ||
| Q3 24 | $-391.4M | $42.9M | ||
| Q2 24 | $-576.7M | $51.3M | ||
| Q1 24 | $-539.7M | $47.8M |
| Q4 25 | -3.1% | — | ||
| Q3 25 | 4.1% | 21.8% | ||
| Q2 25 | 6.9% | 44.6% | ||
| Q1 25 | 4.2% | 39.3% | ||
| Q4 24 | -17.8% | — | ||
| Q3 24 | -146.7% | 39.0% | ||
| Q2 24 | -224.4% | 48.1% | ||
| Q1 24 | -207.4% | 45.5% |
| Q4 25 | -32.7% | 35.5% | ||
| Q3 25 | -28.4% | 16.8% | ||
| Q2 25 | -25.9% | 34.6% | ||
| Q1 25 | -30.8% | 30.5% | ||
| Q4 24 | -59.4% | 34.6% | ||
| Q3 24 | -169.8% | 30.3% | ||
| Q2 24 | -247.0% | 37.2% | ||
| Q1 24 | -230.1% | 34.8% |
| Q4 25 | $-4.88 | $1.51 | ||
| Q3 25 | $-4.23 | $0.69 | ||
| Q2 25 | $-3.81 | $1.20 | ||
| Q1 25 | $-4.38 | $1.04 | ||
| Q4 24 | $-8.49 | $1.18 | ||
| Q3 24 | $-24.25 | $1.01 | ||
| Q2 24 | $-35.78 | $1.21 | ||
| Q1 24 | $-33.40 | $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 | $16.8M | — |
| Total DebtLower is stronger | $4.6B | — |
| Stockholders' EquityBook value | $-173.9M | $3.6B |
| Total Assets | $4.9B | $24.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.8M | — | ||
| Q3 25 | $39.2M | — | ||
| Q2 25 | $56.4M | — | ||
| Q1 25 | $23.1M | — | ||
| Q4 24 | $16.8M | — | ||
| Q3 24 | $86.6M | — | ||
| Q2 24 | $48.8M | — | ||
| Q1 24 | $58.7M | — |
| Q4 25 | $4.6B | — | ||
| Q3 25 | $4.5B | — | ||
| Q2 25 | $4.5B | — | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $4.5B | — | ||
| Q1 24 | $4.5B | — |
| Q4 25 | $-173.9M | $3.6B | ||
| Q3 25 | $-101.8M | $3.5B | ||
| Q2 25 | $-39.9M | $3.1B | ||
| Q1 25 | $14.8M | $3.0B | ||
| Q4 24 | $84.0M | $3.0B | ||
| Q3 24 | $207.6M | $3.0B | ||
| Q2 24 | $603.4M | $2.9B | ||
| Q1 24 | $1.2B | $2.9B |
| Q4 25 | $4.9B | $24.9B | ||
| Q3 25 | $5.0B | $25.0B | ||
| Q2 25 | $5.1B | $20.0B | ||
| Q1 25 | $5.1B | $19.9B | ||
| Q4 24 | $5.2B | $19.4B | ||
| Q3 24 | $5.3B | $19.4B | ||
| Q2 24 | $5.7B | $19.4B | ||
| Q1 24 | $6.4B | $19.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 304.87× | — | ||
| Q4 24 | 53.67× | — | ||
| Q3 24 | 21.73× | — | ||
| Q2 24 | 7.48× | — | ||
| Q1 24 | 3.85× | — |
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 | $66.3M | $78.9M |
| Free Cash FlowOCF − Capex | $36.4M | $75.5M |
| FCF MarginFCF / Revenue | 14.8% | 35.5% |
| Capex IntensityCapex / Revenue | 12.1% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | $-12.3M | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.3M | $78.9M | ||
| Q3 25 | $19.9M | $52.2M | ||
| Q2 25 | $61.2M | $106.7M | ||
| Q1 25 | $-30.1M | $13.3M | ||
| Q4 24 | $-33.4M | $42.9M | ||
| Q3 24 | $72.8M | $70.2M | ||
| Q2 24 | $18.5M | $65.6M | ||
| Q1 24 | $49.7M | $51.1M |
| Q4 25 | $36.4M | $75.5M | ||
| Q3 25 | $-16.3M | $49.7M | ||
| Q2 25 | $36.6M | $102.5M | ||
| Q1 25 | $-68.9M | $11.3M | ||
| Q4 24 | $-63.8M | $36.5M | ||
| Q3 24 | $41.1M | $64.4M | ||
| Q2 24 | $-7.0M | $61.9M | ||
| Q1 24 | $19.2M | $46.7M |
| Q4 25 | 14.8% | 35.5% | ||
| Q3 25 | -6.6% | 24.4% | ||
| Q2 25 | 15.2% | 69.5% | ||
| Q1 25 | -29.8% | 7.8% | ||
| Q4 24 | -27.5% | 25.2% | ||
| Q3 24 | 17.8% | 45.4% | ||
| Q2 24 | -3.0% | 44.9% | ||
| Q1 24 | 8.2% | 34.0% |
| Q4 25 | 12.1% | 1.6% | ||
| Q3 25 | 14.7% | 1.2% | ||
| Q2 25 | 10.2% | 2.9% | ||
| Q1 25 | 16.8% | 1.4% | ||
| Q4 24 | 13.1% | 4.4% | ||
| Q3 24 | 13.8% | 4.1% | ||
| Q2 24 | 10.9% | 2.7% | ||
| Q1 24 | 13.0% | 3.2% |
| Q4 25 | — | 1.05× | ||
| Q3 25 | — | 1.52× | ||
| Q2 25 | — | 2.09× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 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.
