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Side-by-side financial comparison of Doximity, Inc. (DOCS) and INDEPENDENT BANK CORP (INDB). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($212.5M vs $185.1M, roughly 1.1× Doximity, Inc.). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs 33.3%, a 2.2% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs 9.8%). Over the past eight quarters, Doximity, Inc.'s revenue compounded faster (25.2% CAGR vs 24.3%).
Doximity is an online networking service for medical professionals. Launched in 2010, the platform offers its members curated medical news, telehealth tools, and case collaboration.
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
DOCS vs INDB — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $185.1M | $212.5M |
| Net Profit | $61.6M | $75.3M |
| Gross Margin | 89.9% | — |
| Operating Margin | 38.9% | — |
| Net Margin | 33.3% | 35.5% |
| Revenue YoY | 9.8% | 46.9% |
| Net Profit YoY | -18.1% | 50.6% |
| EPS (diluted) | $0.31 | $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 | $185.1M | $212.5M | ||
| Q3 25 | $168.5M | $203.3M | ||
| Q2 25 | $145.9M | $147.5M | ||
| Q1 25 | $138.3M | $145.5M | ||
| Q4 24 | $168.6M | $144.7M | ||
| Q3 24 | $136.8M | $141.7M | ||
| Q2 24 | $126.7M | $137.9M | ||
| Q1 24 | $118.1M | $137.4M |
| Q4 25 | $61.6M | $75.3M | ||
| Q3 25 | $62.1M | $34.3M | ||
| Q2 25 | $53.3M | $51.1M | ||
| Q1 25 | $62.5M | $44.4M | ||
| Q4 24 | $75.2M | $50.0M | ||
| Q3 24 | $44.2M | $42.9M | ||
| Q2 24 | $41.4M | $51.3M | ||
| Q1 24 | $40.6M | $47.8M |
| Q4 25 | 89.9% | — | ||
| Q3 25 | 90.3% | — | ||
| Q2 25 | 89.2% | — | ||
| Q1 25 | 89.5% | — | ||
| Q4 24 | 91.6% | — | ||
| Q3 24 | 90.0% | — | ||
| Q2 24 | 89.3% | — | ||
| Q1 24 | 89.4% | — |
| Q4 25 | 38.9% | — | ||
| Q3 25 | 37.8% | 21.8% | ||
| Q2 25 | 37.4% | 44.6% | ||
| Q1 25 | 35.2% | 39.3% | ||
| Q4 24 | 47.4% | — | ||
| Q3 24 | 38.8% | 39.0% | ||
| Q2 24 | 36.4% | 48.1% | ||
| Q1 24 | 35.5% | 45.5% |
| Q4 25 | 33.3% | 35.5% | ||
| Q3 25 | 36.8% | 16.8% | ||
| Q2 25 | 36.5% | 34.6% | ||
| Q1 25 | 45.2% | 30.5% | ||
| Q4 24 | 44.6% | 34.6% | ||
| Q3 24 | 32.3% | 30.3% | ||
| Q2 24 | 32.7% | 37.2% | ||
| Q1 24 | 34.4% | 34.8% |
| Q4 25 | $0.31 | $1.51 | ||
| Q3 25 | $0.31 | $0.69 | ||
| Q2 25 | $0.27 | $1.20 | ||
| Q1 25 | $0.31 | $1.04 | ||
| Q4 24 | $0.37 | $1.18 | ||
| Q3 24 | $0.22 | $1.01 | ||
| Q2 24 | $0.21 | $1.21 | ||
| Q1 24 | $0.20 | $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 | $64.8M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $979.3M | $3.6B |
| Total Assets | $1.2B | $24.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.8M | — | ||
| Q3 25 | $169.2M | — | ||
| Q2 25 | $137.3M | — | ||
| Q1 25 | $209.6M | — | ||
| Q4 24 | $165.3M | — | ||
| Q3 24 | $184.2M | — | ||
| Q2 24 | $111.4M | — | ||
| Q1 24 | $96.8M | — |
| Q4 25 | $979.3M | $3.6B | ||
| Q3 25 | $1.1B | $3.5B | ||
| Q2 25 | $1.0B | $3.1B | ||
| Q1 25 | $1.1B | $3.0B | ||
| Q4 24 | $1.0B | $3.0B | ||
| Q3 24 | $961.2M | $3.0B | ||
| Q2 24 | $913.6M | $2.9B | ||
| Q1 24 | $901.4M | $2.9B |
| Q4 25 | $1.2B | $24.9B | ||
| Q3 25 | $1.3B | $25.0B | ||
| Q2 25 | $1.2B | $20.0B | ||
| Q1 25 | $1.3B | $19.9B | ||
| Q4 24 | $1.2B | $19.4B | ||
| Q3 24 | $1.1B | $19.4B | ||
| Q2 24 | $1.1B | $19.4B | ||
| Q1 24 | $1.1B | $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 | $60.9M | $78.9M |
| Free Cash FlowOCF − Capex | — | $75.5M |
| FCF MarginFCF / Revenue | — | 35.5% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | 0.99× | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | — | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.9M | $78.9M | ||
| Q3 25 | $93.9M | $52.2M | ||
| Q2 25 | $62.1M | $106.7M | ||
| Q1 25 | $98.5M | $13.3M | ||
| Q4 24 | $65.2M | $42.9M | ||
| Q3 24 | $68.3M | $70.2M | ||
| Q2 24 | $41.2M | $65.6M | ||
| Q1 24 | $63.9M | $51.1M |
| Q4 25 | — | $75.5M | ||
| Q3 25 | — | $49.7M | ||
| Q2 25 | — | $102.5M | ||
| Q1 25 | — | $11.3M | ||
| Q4 24 | — | $36.5M | ||
| Q3 24 | — | $64.4M | ||
| Q2 24 | — | $61.9M | ||
| Q1 24 | — | $46.7M |
| Q4 25 | — | 35.5% | ||
| Q3 25 | — | 24.4% | ||
| Q2 25 | — | 69.5% | ||
| Q1 25 | — | 7.8% | ||
| Q4 24 | — | 25.2% | ||
| Q3 24 | — | 45.4% | ||
| Q2 24 | — | 44.9% | ||
| Q1 24 | — | 34.0% |
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | 0.0% | 1.4% | ||
| Q4 24 | 0.0% | 4.4% | ||
| Q3 24 | 0.0% | 4.1% | ||
| Q2 24 | 0.0% | 2.7% | ||
| Q1 24 | 0.0% | 3.2% |
| Q4 25 | 0.99× | 1.05× | ||
| Q3 25 | 1.51× | 1.52× | ||
| Q2 25 | 1.16× | 2.09× | ||
| Q1 25 | 1.58× | 0.30× | ||
| Q4 24 | 0.87× | 0.86× | ||
| Q3 24 | 1.55× | 1.64× | ||
| Q2 24 | 1.00× | 1.28× | ||
| Q1 24 | 1.57× | 1.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DOCS
| Subscription | $175.4M | 95% |
| Service Other | $9.7M | 5% |
INDB
Segment breakdown not available.
