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Side-by-side financial comparison of EASTERN CO (EML) and INDEPENDENT BANK CORP (IBCP). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($58.9M vs $55.3M, roughly 1.1× EASTERN CO). INDEPENDENT BANK CORP runs the higher net margin — 28.6% vs 1.0%, a 27.6% gap on every dollar of revenue. Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (2.1% CAGR vs -0.6%).
EASTERN COEMLEarnings & Financial Report
China Eastern Airlines is a major airline in China, headquartered in Changning, Shanghai. It is one of the three major airlines in the country, along with Air China and China Southern Airlines.
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
EML vs IBCP — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $55.3M | $58.9M |
| Net Profit | $578.9K | $16.9M |
| Gross Margin | 22.3% | — |
| Operating Margin | 3.1% | — |
| Net Margin | 1.0% | 28.6% |
| Revenue YoY | -22.4% | — |
| Net Profit YoY | 103.8% | 8.2% |
| EPS (diluted) | $0.10 | $0.81 |
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.
| Q1 26 | — | $58.9M | ||
| Q4 25 | — | $58.3M | ||
| Q3 25 | $55.3M | $57.3M | ||
| Q2 25 | $70.2M | $55.9M | ||
| Q1 25 | $63.3M | $54.1M | ||
| Q4 24 | $64.3M | $62.0M | ||
| Q3 24 | $71.3M | $51.4M | ||
| Q2 24 | $72.6M | $56.5M |
| Q1 26 | — | $16.9M | ||
| Q4 25 | — | $18.6M | ||
| Q3 25 | $578.9K | $17.5M | ||
| Q2 25 | $3.4M | $16.9M | ||
| Q1 25 | $1.9M | $15.6M | ||
| Q4 24 | $1.3M | $18.5M | ||
| Q3 24 | $-15.3M | $13.8M | ||
| Q2 24 | $3.5M | $18.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | 23.3% | — | ||
| Q1 25 | 22.4% | — | ||
| Q4 24 | 23.6% | — | ||
| Q3 24 | 25.5% | — | ||
| Q2 24 | 25.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 34.8% | ||
| Q3 25 | 3.1% | 37.0% | ||
| Q2 25 | 4.5% | 37.0% | ||
| Q1 25 | 5.1% | 35.3% | ||
| Q4 24 | 6.1% | 36.7% | ||
| Q3 24 | 9.5% | 33.7% | ||
| Q2 24 | 8.3% | 41.0% |
| Q1 26 | — | 28.6% | ||
| Q4 25 | — | 31.8% | ||
| Q3 25 | 1.0% | 30.5% | ||
| Q2 25 | 4.9% | 30.2% | ||
| Q1 25 | 3.1% | 28.8% | ||
| Q4 24 | 2.0% | 29.8% | ||
| Q3 24 | -21.5% | 26.9% | ||
| Q2 24 | 4.8% | 32.8% |
| Q1 26 | — | $0.81 | ||
| Q4 25 | — | $0.88 | ||
| Q3 25 | $0.10 | $0.84 | ||
| Q2 25 | $0.56 | $0.81 | ||
| Q1 25 | $0.32 | $0.74 | ||
| Q4 24 | $0.22 | $0.87 | ||
| Q3 24 | $-2.46 | $0.65 | ||
| Q2 24 | $0.56 | $0.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $9.2M | $174.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $124.3M | $510.6M |
| Total Assets | $220.0M | $5.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $174.9M | ||
| Q4 25 | — | $138.4M | ||
| Q3 25 | $9.2M | $208.7M | ||
| Q2 25 | $9.1M | $146.2M | ||
| Q1 25 | $10.2M | $128.1M | ||
| Q4 24 | $16.1M | $119.9M | ||
| Q3 24 | $9.7M | $121.6M | ||
| Q2 24 | $2.0M | $214.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $42.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $510.6M | ||
| Q4 25 | — | $503.0M | ||
| Q3 25 | $124.3M | $490.7M | ||
| Q2 25 | $124.4M | $469.3M | ||
| Q1 25 | $121.0M | $467.3M | ||
| Q4 24 | $120.7M | $454.7M | ||
| Q3 24 | $119.2M | $452.4M | ||
| Q2 24 | $136.5M | $430.5M |
| Q1 26 | — | $5.6B | ||
| Q4 25 | — | $5.5B | ||
| Q3 25 | $220.0M | $5.5B | ||
| Q2 25 | $229.4M | $5.4B | ||
| Q1 25 | $232.3M | $5.3B | ||
| Q4 24 | $235.3M | $5.3B | ||
| Q3 24 | $244.2M | $5.3B | ||
| Q2 24 | $255.9M | $5.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.35× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $3.1M | — |
| Free Cash FlowOCF − Capex | $3.1M | — |
| FCF MarginFCF / Revenue | 5.5% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | 5.38× | — |
| TTM Free Cash FlowTrailing 4 quarters | $12.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $76.7M | ||
| Q3 25 | $3.1M | $18.2M | ||
| Q2 25 | $3.8M | $19.0M | ||
| Q1 25 | $-1.8M | $31.7M | ||
| Q4 24 | $11.0M | $63.2M | ||
| Q3 24 | $-2.9M | $17.2M | ||
| Q2 24 | $8.4M | $8.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $70.2M | ||
| Q3 25 | $3.1M | $16.5M | ||
| Q2 25 | $3.0M | $16.7M | ||
| Q1 25 | $-2.7M | $30.6M | ||
| Q4 24 | $9.0M | $55.2M | ||
| Q3 24 | $-7.7M | $15.7M | ||
| Q2 24 | $7.3M | $7.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 120.3% | ||
| Q3 25 | 5.5% | 28.9% | ||
| Q2 25 | 4.3% | 29.8% | ||
| Q1 25 | -4.3% | 56.5% | ||
| Q4 24 | 13.9% | 89.1% | ||
| Q3 24 | -10.8% | 30.6% | ||
| Q2 24 | 10.1% | 12.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 11.1% | ||
| Q3 25 | 0.1% | 2.9% | ||
| Q2 25 | 1.1% | 4.1% | ||
| Q1 25 | 1.3% | 2.1% | ||
| Q4 24 | 3.2% | 12.8% | ||
| Q3 24 | 6.7% | 2.9% | ||
| Q2 24 | 1.5% | 3.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.13× | ||
| Q3 25 | 5.38× | 1.04× | ||
| Q2 25 | 1.09× | 1.12× | ||
| Q1 25 | -0.95× | 2.03× | ||
| Q4 24 | 8.41× | 3.42× | ||
| Q3 24 | — | 1.25× | ||
| Q2 24 | 2.40× | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EML
Segment breakdown not available.
IBCP
| Net Interest Income | $46.9M | 80% |
| Noninterest Income | $12.0M | 20% |
