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Side-by-side financial comparison of GYRE THERAPEUTICS, INC. (GYRE) 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 $37.2M, roughly 1.6× GYRE THERAPEUTICS, INC.). INDEPENDENT BANK CORP runs the higher net margin — 28.6% vs -3.7%, a 32.3% gap on every dollar of revenue. Over the past eight quarters, GYRE THERAPEUTICS, INC.'s revenue compounded faster (17.0% CAGR vs 2.1%).
GYRE Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to developing novel targeted therapies for hard-to-treat hematologic malignancies and solid tumors. It focuses on precision oncology to address unmet patient needs, with operations primarily based in North America.
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
GYRE vs IBCP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $37.2M | $58.9M |
| Net Profit | $-1.4M | $16.9M |
| Gross Margin | 95.3% | — |
| Operating Margin | 0.3% | — |
| Net Margin | -3.7% | 28.6% |
| Revenue YoY | 33.4% | — |
| Net Profit YoY | -340.1% | 8.2% |
| EPS (diluted) | $-0.01 | $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 | $37.2M | $58.3M | ||
| Q3 25 | $30.6M | $57.3M | ||
| Q2 25 | $26.8M | $55.9M | ||
| Q1 25 | $22.1M | $54.1M | ||
| Q4 24 | $27.9M | $62.0M | ||
| Q3 24 | $25.5M | $51.4M | ||
| Q2 24 | $25.2M | $56.5M |
| Q1 26 | — | $16.9M | ||
| Q4 25 | $-1.4M | $18.6M | ||
| Q3 25 | $5.9M | $17.5M | ||
| Q2 25 | $1.6M | $16.9M | ||
| Q1 25 | $3.7M | $15.6M | ||
| Q4 24 | $569.0K | $18.5M | ||
| Q3 24 | $2.9M | $13.8M | ||
| Q2 24 | $4.5M | $18.5M |
| Q1 26 | — | — | ||
| Q4 25 | 95.3% | — | ||
| Q3 25 | 94.7% | — | ||
| Q2 25 | 95.7% | — | ||
| Q1 25 | 95.9% | — | ||
| Q4 24 | 95.8% | — | ||
| Q3 24 | 96.2% | — | ||
| Q2 24 | 96.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | 34.8% | ||
| Q3 25 | 22.7% | 37.0% | ||
| Q2 25 | 8.1% | 37.0% | ||
| Q1 25 | 10.3% | 35.3% | ||
| Q4 24 | 2.4% | 36.7% | ||
| Q3 24 | 16.6% | 33.7% | ||
| Q2 24 | 12.7% | 41.0% |
| Q1 26 | — | 28.6% | ||
| Q4 25 | -3.7% | 31.8% | ||
| Q3 25 | 19.4% | 30.5% | ||
| Q2 25 | 5.9% | 30.2% | ||
| Q1 25 | 16.9% | 28.8% | ||
| Q4 24 | 2.0% | 29.8% | ||
| Q3 24 | 11.2% | 26.9% | ||
| Q2 24 | 18.0% | 32.8% |
| Q1 26 | — | $0.81 | ||
| Q4 25 | $-0.01 | $0.88 | ||
| Q3 25 | $0.03 | $0.84 | ||
| Q2 25 | $0.00 | $0.81 | ||
| Q1 25 | $0.00 | $0.74 | ||
| Q4 24 | $0.00 | $0.87 | ||
| Q3 24 | $0.01 | $0.65 | ||
| Q2 24 | $0.01 | $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 | $52.4M | $174.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $106.0M | $510.6M |
| Total Assets | $166.1M | $5.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $174.9M | ||
| Q4 25 | $52.4M | $138.4M | ||
| Q3 25 | $60.0M | $208.7M | ||
| Q2 25 | $54.4M | $146.2M | ||
| Q1 25 | $29.9M | $128.1M | ||
| Q4 24 | $26.7M | $119.9M | ||
| Q3 24 | $25.1M | $121.6M | ||
| Q2 24 | $25.1M | $214.3M |
| Q1 26 | — | $510.6M | ||
| Q4 25 | $106.0M | $503.0M | ||
| Q3 25 | $101.9M | $490.7M | ||
| Q2 25 | $92.0M | $469.3M | ||
| Q1 25 | $68.1M | $467.3M | ||
| Q4 24 | $63.3M | $454.7M | ||
| Q3 24 | $63.2M | $452.4M | ||
| Q2 24 | $60.4M | $430.5M |
| Q1 26 | — | $5.6B | ||
| Q4 25 | $166.1M | $5.5B | ||
| Q3 25 | $159.4M | $5.5B | ||
| Q2 25 | $152.6M | $5.4B | ||
| Q1 25 | $129.8M | $5.3B | ||
| Q4 24 | $125.4M | $5.3B | ||
| Q3 24 | $125.2M | $5.3B | ||
| Q2 24 | $120.9M | $5.3B |
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 | $-5.6M | — |
| Free Cash FlowOCF − Capex | $-5.8M | — |
| FCF MarginFCF / Revenue | -15.5% | — |
| Capex IntensityCapex / Revenue | 0.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-180.0K | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-5.6M | $76.7M | ||
| Q3 25 | $4.7M | $18.2M | ||
| Q2 25 | $2.1M | $19.0M | ||
| Q1 25 | $-129.0K | $31.7M | ||
| Q4 24 | $-2.8M | $63.2M | ||
| Q3 24 | $1.7M | $17.2M | ||
| Q2 24 | $-5.5M | $8.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-5.8M | $70.2M | ||
| Q3 25 | $4.0M | $16.5M | ||
| Q2 25 | $1.8M | $16.7M | ||
| Q1 25 | $-251.0K | $30.6M | ||
| Q4 24 | $-2.8M | $55.2M | ||
| Q3 24 | $1.0M | $15.7M | ||
| Q2 24 | $-6.9M | $7.0M |
| Q1 26 | — | — | ||
| Q4 25 | -15.5% | 120.3% | ||
| Q3 25 | 13.1% | 28.9% | ||
| Q2 25 | 6.8% | 29.8% | ||
| Q1 25 | -1.1% | 56.5% | ||
| Q4 24 | -10.1% | 89.1% | ||
| Q3 24 | 4.1% | 30.6% | ||
| Q2 24 | -27.5% | 12.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | 11.1% | ||
| Q3 25 | 2.2% | 2.9% | ||
| Q2 25 | 1.0% | 4.1% | ||
| Q1 25 | 0.6% | 2.1% | ||
| Q4 24 | 0.2% | 12.8% | ||
| Q3 24 | 2.7% | 2.9% | ||
| Q2 24 | 5.8% | 3.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.13× | ||
| Q3 25 | 0.79× | 1.04× | ||
| Q2 25 | 1.32× | 1.12× | ||
| Q1 25 | -0.03× | 2.03× | ||
| Q4 24 | -4.85× | 3.42× | ||
| Q3 24 | 0.60× | 1.25× | ||
| Q2 24 | -1.21× | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GYRE
Segment breakdown not available.
IBCP
| Net Interest Income | $46.9M | 80% |
| Noninterest Income | $12.0M | 20% |
