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Side-by-side financial comparison of HEARTLAND EXPRESS INC (HTLD) 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 $179.4M, roughly 1.2× HEARTLAND EXPRESS INC). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs -10.8%, a 46.3% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs -26.1%). INDEPENDENT BANK CORP produced more free cash flow last quarter ($75.5M vs $-44.2M). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs -18.5%).
Heartland Express is an American trucking company headquartered in North Liberty, Iowa. The company offers truckload shipping services across the United States.
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
HTLD vs INDB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $179.4M | $212.5M |
| Net Profit | $-19.4M | $75.3M |
| Gross Margin | — | — |
| Operating Margin | -12.7% | — |
| Net Margin | -10.8% | 35.5% |
| Revenue YoY | -26.1% | 46.9% |
| Net Profit YoY | -949.2% | 50.6% |
| EPS (diluted) | $-0.24 | $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 | $179.4M | $212.5M | ||
| Q3 25 | $196.5M | $203.3M | ||
| Q2 25 | $210.4M | $147.5M | ||
| Q1 25 | $219.4M | $145.5M | ||
| Q4 24 | $242.6M | $144.7M | ||
| Q3 24 | $259.9M | $141.7M | ||
| Q2 24 | $274.8M | $137.9M | ||
| Q1 24 | $270.3M | $137.4M |
| Q4 25 | $-19.4M | $75.3M | ||
| Q3 25 | $-8.3M | $34.3M | ||
| Q2 25 | $-10.9M | $51.1M | ||
| Q1 25 | $-13.9M | $44.4M | ||
| Q4 24 | $-1.9M | $50.0M | ||
| Q3 24 | $-9.3M | $42.9M | ||
| Q2 24 | $-3.5M | $51.3M | ||
| Q1 24 | $-15.1M | $47.8M |
| Q4 25 | -12.7% | — | ||
| Q3 25 | -3.7% | 21.8% | ||
| Q2 25 | -5.9% | 44.6% | ||
| Q1 25 | -6.8% | 39.3% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | -2.7% | 39.0% | ||
| Q2 24 | 0.1% | 48.1% | ||
| Q1 24 | -5.3% | 45.5% |
| Q4 25 | -10.8% | 35.5% | ||
| Q3 25 | -4.2% | 16.8% | ||
| Q2 25 | -5.2% | 34.6% | ||
| Q1 25 | -6.3% | 30.5% | ||
| Q4 24 | -0.8% | 34.6% | ||
| Q3 24 | -3.6% | 30.3% | ||
| Q2 24 | -1.3% | 37.2% | ||
| Q1 24 | -5.6% | 34.8% |
| Q4 25 | $-0.24 | $1.51 | ||
| Q3 25 | $-0.11 | $0.69 | ||
| Q2 25 | $-0.14 | $1.20 | ||
| Q1 25 | $-0.18 | $1.04 | ||
| Q4 24 | $-0.03 | $1.18 | ||
| Q3 24 | $-0.12 | $1.01 | ||
| Q2 24 | $-0.04 | $1.21 | ||
| Q1 24 | $-0.19 | $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 | $18.5M | — |
| Total DebtLower is stronger | $154.1M | — |
| Stockholders' EquityBook value | $755.3M | $3.6B |
| Total Assets | $1.2B | $24.9B |
| Debt / EquityLower = less leverage | 0.20× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.5M | — | ||
| Q3 25 | $32.7M | — | ||
| Q2 25 | $22.9M | — | ||
| Q1 25 | $23.9M | — | ||
| Q4 24 | $12.8M | — | ||
| Q3 24 | $30.7M | — | ||
| Q2 24 | $23.9M | — | ||
| Q1 24 | $23.8M | — |
| Q4 25 | $154.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $187.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $755.3M | $3.6B | ||
| Q3 25 | $775.6M | $3.5B | ||
| Q2 25 | $786.7M | $3.1B | ||
| Q1 25 | $807.7M | $3.0B | ||
| Q4 24 | $822.6M | $3.0B | ||
| Q3 24 | $825.7M | $3.0B | ||
| Q2 24 | $836.8M | $2.9B | ||
| Q1 24 | $848.8M | $2.9B |
| Q4 25 | $1.2B | $24.9B | ||
| Q3 25 | $1.3B | $25.0B | ||
| Q2 25 | $1.3B | $20.0B | ||
| Q1 25 | $1.3B | $19.9B | ||
| Q4 24 | $1.3B | $19.4B | ||
| Q3 24 | $1.4B | $19.4B | ||
| Q2 24 | $1.4B | $19.4B | ||
| Q1 24 | $1.5B | $19.3B |
| Q4 25 | 0.20× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.23× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $14.9M | $78.9M |
| Free Cash FlowOCF − Capex | $-44.2M | $75.5M |
| FCF MarginFCF / Revenue | -24.6% | 35.5% |
| Capex IntensityCapex / Revenue | 33.0% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | $-66.9M | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.9M | $78.9M | ||
| Q3 25 | $27.5M | $52.2M | ||
| Q2 25 | $21.0M | $106.7M | ||
| Q1 25 | $25.8M | $13.3M | ||
| Q4 24 | $37.8M | $42.9M | ||
| Q3 24 | $35.6M | $70.2M | ||
| Q2 24 | $40.0M | $65.6M | ||
| Q1 24 | $31.0M | $51.1M |
| Q4 25 | $-44.2M | $75.5M | ||
| Q3 25 | $-12.2M | $49.7M | ||
| Q2 25 | $-12.8M | $102.5M | ||
| Q1 25 | $2.3M | $11.3M | ||
| Q4 24 | $-45.5M | $36.5M | ||
| Q3 24 | $24.6M | $64.4M | ||
| Q2 24 | $29.4M | $61.9M | ||
| Q1 24 | $26.3M | $46.7M |
| Q4 25 | -24.6% | 35.5% | ||
| Q3 25 | -6.2% | 24.4% | ||
| Q2 25 | -6.1% | 69.5% | ||
| Q1 25 | 1.0% | 7.8% | ||
| Q4 24 | -18.8% | 25.2% | ||
| Q3 24 | 9.5% | 45.4% | ||
| Q2 24 | 10.7% | 44.9% | ||
| Q1 24 | 9.7% | 34.0% |
| Q4 25 | 33.0% | 1.6% | ||
| Q3 25 | 20.2% | 1.2% | ||
| Q2 25 | 16.1% | 2.9% | ||
| Q1 25 | 10.7% | 1.4% | ||
| Q4 24 | 34.3% | 4.4% | ||
| Q3 24 | 4.2% | 4.1% | ||
| Q2 24 | 3.8% | 2.7% | ||
| Q1 24 | 1.7% | 3.2% |
| Q4 25 | — | 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.
