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Side-by-side financial comparison of Douglas Elliman Inc. (DOUG) and INDEPENDENT BANK CORP (INDB). Click either name above to swap in a different company.
Douglas Elliman Inc. is the larger business by last-quarter revenue ($245.4M vs $212.5M, roughly 1.2× INDEPENDENT BANK CORP). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs 27.9%, a 7.5% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs 0.9%). INDEPENDENT BANK CORP produced more free cash flow last quarter ($75.5M vs $-14.7M). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs 10.7%).
Douglas Elliman Inc. is a leading U.S.-based residential real estate brokerage firm. It offers luxury property sales, rentals, property management, and advisory solutions, serving high-net-worth clients across key metro markets including New York, California, Florida, and Texas.
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
DOUG vs INDB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $245.4M | $212.5M |
| Net Profit | $68.6M | $75.3M |
| Gross Margin | — | — |
| Operating Margin | 27.3% | — |
| Net Margin | 27.9% | 35.5% |
| Revenue YoY | 0.9% | 46.9% |
| Net Profit YoY | 1243.4% | 50.6% |
| EPS (diluted) | $0.80 | $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 | $245.4M | $212.5M | ||
| Q3 25 | $262.8M | $203.3M | ||
| Q2 25 | $271.4M | $147.5M | ||
| Q1 25 | $253.4M | $145.5M | ||
| Q4 24 | $243.3M | $144.7M | ||
| Q3 24 | $266.3M | $141.7M | ||
| Q2 24 | $285.8M | $137.9M | ||
| Q1 24 | $200.2M | $137.4M |
| Q4 25 | $68.6M | $75.3M | ||
| Q3 25 | $-24.7M | $34.3M | ||
| Q2 25 | $-22.7M | $51.1M | ||
| Q1 25 | $-6.0M | $44.4M | ||
| Q4 24 | $-6.0M | $50.0M | ||
| Q3 24 | $-27.2M | $42.9M | ||
| Q2 24 | $-1.7M | $51.3M | ||
| Q1 24 | $-41.5M | $47.8M |
| Q4 25 | 27.3% | — | ||
| Q3 25 | -4.1% | 21.8% | ||
| Q2 25 | -2.0% | 44.6% | ||
| Q1 25 | -2.1% | 39.3% | ||
| Q4 24 | -6.7% | — | ||
| Q3 24 | -2.8% | 39.0% | ||
| Q2 24 | -1.3% | 48.1% | ||
| Q1 24 | -20.7% | 45.5% |
| Q4 25 | 27.9% | 35.5% | ||
| Q3 25 | -9.4% | 16.8% | ||
| Q2 25 | -8.4% | 34.6% | ||
| Q1 25 | -2.4% | 30.5% | ||
| Q4 24 | -2.5% | 34.6% | ||
| Q3 24 | -10.2% | 30.3% | ||
| Q2 24 | -0.6% | 37.2% | ||
| Q1 24 | -20.7% | 34.8% |
| Q4 25 | $0.80 | $1.51 | ||
| Q3 25 | $-0.29 | $0.69 | ||
| Q2 25 | $-0.27 | $1.20 | ||
| Q1 25 | $-0.07 | $1.04 | ||
| Q4 24 | $-0.06 | $1.18 | ||
| Q3 24 | $-0.33 | $1.01 | ||
| Q2 24 | $-0.02 | $1.21 | ||
| Q1 24 | $-0.50 | $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 | $115.5M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $183.9M | $3.6B |
| Total Assets | $444.4M | $24.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $115.5M | — | ||
| Q3 25 | $143.0M | — | ||
| Q2 25 | $136.3M | — | ||
| Q1 25 | $136.8M | — | ||
| Q4 24 | $145.5M | — | ||
| Q3 24 | $151.4M | — | ||
| Q2 24 | $92.9M | — | ||
| Q1 24 | $91.5M | — |
| Q4 25 | $183.9M | $3.6B | ||
| Q3 25 | $115.1M | $3.5B | ||
| Q2 25 | $137.6M | $3.1B | ||
| Q1 25 | $158.2M | $3.0B | ||
| Q4 24 | $162.2M | $3.0B | ||
| Q3 24 | $173.6M | $3.0B | ||
| Q2 24 | $196.9M | $2.9B | ||
| Q1 24 | $195.1M | $2.9B |
| Q4 25 | $444.4M | $24.9B | ||
| Q3 25 | $480.6M | $25.0B | ||
| Q2 25 | $489.0M | $20.0B | ||
| Q1 25 | $493.9M | $19.9B | ||
| Q4 24 | $493.9M | $19.4B | ||
| Q3 24 | $502.7M | $19.4B | ||
| Q2 24 | $463.9M | $19.4B | ||
| Q1 24 | $461.1M | $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 | $-14.4M | $78.9M |
| Free Cash FlowOCF − Capex | $-14.7M | $75.5M |
| FCF MarginFCF / Revenue | -6.0% | 35.5% |
| Capex IntensityCapex / Revenue | 0.1% | 1.6% |
| Cash ConversionOCF / Net Profit | -0.21× | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | $-17.2M | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-14.4M | $78.9M | ||
| Q3 25 | $5.5M | $52.2M | ||
| Q2 25 | $642.0K | $106.7M | ||
| Q1 25 | $-5.6M | $13.3M | ||
| Q4 24 | $-9.0M | $42.9M | ||
| Q3 24 | $9.0M | $70.2M | ||
| Q2 24 | $1.3M | $65.6M | ||
| Q1 24 | $-27.3M | $51.1M |
| Q4 25 | $-14.7M | $75.5M | ||
| Q3 25 | $4.7M | $49.7M | ||
| Q2 25 | $-575.0K | $102.5M | ||
| Q1 25 | $-6.7M | $11.3M | ||
| Q4 24 | $-10.2M | $36.5M | ||
| Q3 24 | $7.7M | $64.4M | ||
| Q2 24 | $432.0K | $61.9M | ||
| Q1 24 | $-29.4M | $46.7M |
| Q4 25 | -6.0% | 35.5% | ||
| Q3 25 | 1.8% | 24.4% | ||
| Q2 25 | -0.2% | 69.5% | ||
| Q1 25 | -2.6% | 7.8% | ||
| Q4 24 | -4.2% | 25.2% | ||
| Q3 24 | 2.9% | 45.4% | ||
| Q2 24 | 0.2% | 44.9% | ||
| Q1 24 | -14.7% | 34.0% |
| Q4 25 | 0.1% | 1.6% | ||
| Q3 25 | 0.3% | 1.2% | ||
| Q2 25 | 0.4% | 2.9% | ||
| Q1 25 | 0.4% | 1.4% | ||
| Q4 24 | 0.5% | 4.4% | ||
| Q3 24 | 0.5% | 4.1% | ||
| Q2 24 | 0.3% | 2.7% | ||
| Q1 24 | 1.0% | 3.2% |
| Q4 25 | -0.21× | 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.
Revenue Breakdown by Segment
DOUG
| Commissions And Other Brokerage Income | $240.3M | 98% |
| Property Management Income | $2.8M | 1% |
| Property Management | $2.2M | 1% |
INDB
Segment breakdown not available.
