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Side-by-side financial comparison of Krispy Kreme, Inc. (DNUT) and INDEPENDENT BANK CORP (INDB). Click either name above to swap in a different company.
Krispy Kreme, Inc. is the larger business by last-quarter revenue ($392.4M vs $212.5M, roughly 1.8× INDEPENDENT BANK CORP). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs -7.1%, a 42.5% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs -2.9%). INDEPENDENT BANK CORP produced more free cash flow last quarter ($75.5M vs $27.9M). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs -5.9%).
Krispy Kreme, Inc. is an American multinational doughnut company and coffeehouse chain. Krispy Kreme was founded by Vernon Rudolph (1915–1973), who bought a yeast-raised recipe from a New Orleans chef, rented a building in 1937 in what is now historic Old Salem in Winston-Salem, North Carolina, and began selling to local grocery stores. Steady growth preceded an ambitious expansion as a public company in the period 2000 to 2016, which ultimately proved unprofitable. In 2016, the company retur...
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
DNUT vs INDB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $392.4M | $212.5M |
| Net Profit | $-27.8M | $75.3M |
| Gross Margin | — | — |
| Operating Margin | -1.9% | — |
| Net Margin | -7.1% | 35.5% |
| Revenue YoY | -2.9% | 46.9% |
| Net Profit YoY | -23.8% | 50.6% |
| EPS (diluted) | $-0.18 | $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 | $392.4M | $212.5M | ||
| Q3 25 | $375.3M | $203.3M | ||
| Q2 25 | $379.8M | $147.5M | ||
| Q1 25 | $375.2M | $145.5M | ||
| Q4 24 | $404.0M | $144.7M | ||
| Q3 24 | $379.9M | $141.7M | ||
| Q2 24 | $438.8M | $137.9M | ||
| Q1 24 | $442.7M | $137.4M |
| Q4 25 | $-27.8M | $75.3M | ||
| Q3 25 | $-19.4M | $34.3M | ||
| Q2 25 | $-435.3M | $51.1M | ||
| Q1 25 | $-33.3M | $44.4M | ||
| Q4 24 | $-22.4M | $50.0M | ||
| Q3 24 | $39.6M | $42.9M | ||
| Q2 24 | $-5.5M | $51.3M | ||
| Q1 24 | $-8.5M | $47.8M |
| Q4 25 | -1.9% | — | ||
| Q3 25 | -1.9% | 21.8% | ||
| Q2 25 | -114.4% | 44.6% | ||
| Q1 25 | -5.4% | 39.3% | ||
| Q4 24 | -2.8% | — | ||
| Q3 24 | -4.2% | 39.0% | ||
| Q2 24 | 1.6% | 48.1% | ||
| Q1 24 | 2.7% | 45.5% |
| Q4 25 | -7.1% | 35.5% | ||
| Q3 25 | -5.2% | 16.8% | ||
| Q2 25 | -114.6% | 34.6% | ||
| Q1 25 | -8.9% | 30.5% | ||
| Q4 24 | -5.6% | 34.6% | ||
| Q3 24 | 10.4% | 30.3% | ||
| Q2 24 | -1.3% | 37.2% | ||
| Q1 24 | -1.9% | 34.8% |
| Q4 25 | $-0.18 | $1.51 | ||
| Q3 25 | $-0.11 | $0.69 | ||
| Q2 25 | $-2.55 | $1.20 | ||
| Q1 25 | $-0.20 | $1.04 | ||
| Q4 24 | $-0.13 | $1.18 | ||
| Q3 24 | $0.23 | $1.01 | ||
| Q2 24 | $-0.03 | $1.21 | ||
| Q1 24 | $-0.05 | $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 | $42.4M | — |
| Total DebtLower is stronger | $911.9M | — |
| Stockholders' EquityBook value | $650.1M | $3.6B |
| Total Assets | $2.6B | $24.9B |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.4M | — | ||
| Q3 25 | $30.7M | — | ||
| Q2 25 | $21.3M | — | ||
| Q1 25 | $18.7M | — | ||
| Q4 24 | $29.0M | — | ||
| Q3 24 | $25.4M | — | ||
| Q2 24 | $28.6M | — | ||
| Q1 24 | $33.1M | — |
| Q4 25 | $911.9M | — | ||
| Q3 25 | $906.2M | — | ||
| Q2 25 | $889.4M | — | ||
| Q1 25 | $935.0M | — | ||
| Q4 24 | $844.5M | — | ||
| Q3 24 | $804.6M | — | ||
| Q2 24 | $895.0M | — | ||
| Q1 24 | $881.8M | — |
| Q4 25 | $650.1M | $3.6B | ||
| Q3 25 | $670.3M | $3.5B | ||
| Q2 25 | $693.6M | $3.1B | ||
| Q1 25 | $1.1B | $3.0B | ||
| Q4 24 | $1.1B | $3.0B | ||
| Q3 24 | $1.2B | $3.0B | ||
| Q2 24 | $1.1B | $2.9B | ||
| Q1 24 | $1.2B | $2.9B |
| Q4 25 | $2.6B | $24.9B | ||
| Q3 25 | $2.6B | $25.0B | ||
| Q2 25 | $2.6B | $20.0B | ||
| Q1 25 | $3.1B | $19.9B | ||
| Q4 24 | $3.1B | $19.4B | ||
| Q3 24 | $3.1B | $19.4B | ||
| Q2 24 | $3.2B | $19.4B | ||
| Q1 24 | $3.2B | $19.3B |
| Q4 25 | 1.40× | — | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | 1.28× | — | ||
| Q1 25 | 0.85× | — | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.79× | — | ||
| Q1 24 | 0.76× | — |
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 | $45.0M | $78.9M |
| Free Cash FlowOCF − Capex | $27.9M | $75.5M |
| FCF MarginFCF / Revenue | 7.1% | 35.5% |
| Capex IntensityCapex / Revenue | 4.4% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | $-64.0M | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $45.0M | $78.9M | ||
| Q3 25 | $42.3M | $52.2M | ||
| Q2 25 | $-32.5M | $106.7M | ||
| Q1 25 | $-20.8M | $13.3M | ||
| Q4 24 | $27.0M | $42.9M | ||
| Q3 24 | $3.3M | $70.2M | ||
| Q2 24 | $33.2M | $65.6M | ||
| Q1 24 | $-17.7M | $51.1M |
| Q4 25 | $27.9M | $75.5M | ||
| Q3 25 | $15.5M | $49.7M | ||
| Q2 25 | $-60.8M | $102.5M | ||
| Q1 25 | $-46.7M | $11.3M | ||
| Q4 24 | $-6.9M | $36.5M | ||
| Q3 24 | $-22.9M | $64.4M | ||
| Q2 24 | $1.6M | $61.9M | ||
| Q1 24 | $-46.8M | $46.7M |
| Q4 25 | 7.1% | 35.5% | ||
| Q3 25 | 4.1% | 24.4% | ||
| Q2 25 | -16.0% | 69.5% | ||
| Q1 25 | -12.5% | 7.8% | ||
| Q4 24 | -1.7% | 25.2% | ||
| Q3 24 | -6.0% | 45.4% | ||
| Q2 24 | 0.4% | 44.9% | ||
| Q1 24 | -10.6% | 34.0% |
| Q4 25 | 4.4% | 1.6% | ||
| Q3 25 | 7.1% | 1.2% | ||
| Q2 25 | 7.4% | 2.9% | ||
| Q1 25 | 6.9% | 1.4% | ||
| Q4 24 | 8.4% | 4.4% | ||
| Q3 24 | 6.9% | 4.1% | ||
| Q2 24 | 7.2% | 2.7% | ||
| Q1 24 | 6.6% | 3.2% |
| Q4 25 | — | 1.05× | ||
| Q3 25 | — | 1.52× | ||
| Q2 25 | — | 2.09× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | 0.08× | 1.64× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 1.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
