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Side-by-side financial comparison of INDEPENDENT BANK CORP (IBCP) and LIFECORE BIOMEDICAL, INC. \DE\ (LFCR). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($58.9M vs $31.1M, roughly 1.9× LIFECORE BIOMEDICAL, INC. \DE\). INDEPENDENT BANK CORP runs the higher net margin — 28.6% vs -32.1%, a 60.8% gap on every dollar of revenue. Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (2.1% CAGR vs -0.1%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
LIFECORE BIOMEDICAL, INC. is a biomedical firm focused on developing and manufacturing high-quality hyaluronic acid-based biomaterials. It operates three core segments: medical application products, pharmaceutical solutions, and personal care ingredients, with main markets spanning North America, Europe and the Asia-Pacific, supplying to leading medical device, pharmaceutical and cosmetic brand partners.
IBCP vs LFCR — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $58.9M | $31.1M |
| Net Profit | $16.9M | $-10.0M |
| Gross Margin | — | 25.0% |
| Operating Margin | — | -9.9% |
| Net Margin | 28.6% | -32.1% |
| Revenue YoY | — | -4.5% |
| Net Profit YoY | 8.2% | -52.0% |
| EPS (diluted) | $0.81 | $-0.29 |
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 | $57.3M | $31.1M | ||
| Q2 25 | $55.9M | — | ||
| Q1 25 | $54.1M | $35.2M | ||
| Q4 24 | $62.0M | $32.6M | ||
| Q3 24 | $51.4M | $24.7M | ||
| Q2 24 | $56.5M | — |
| Q1 26 | $16.9M | — | ||
| Q4 25 | $18.6M | — | ||
| Q3 25 | $17.5M | $-10.0M | ||
| Q2 25 | $16.9M | — | ||
| Q1 25 | $15.6M | $-14.8M | ||
| Q4 24 | $18.5M | $-6.6M | ||
| Q3 24 | $13.8M | $-16.2M | ||
| Q2 24 | $18.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 25.0% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 28.0% | ||
| Q4 24 | — | 34.0% | ||
| Q3 24 | — | 21.8% | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 34.8% | — | ||
| Q3 25 | 37.0% | -9.9% | ||
| Q2 25 | 37.0% | — | ||
| Q1 25 | 35.3% | -25.7% | ||
| Q4 24 | 36.7% | -6.0% | ||
| Q3 24 | 33.7% | -46.9% | ||
| Q2 24 | 41.0% | — |
| Q1 26 | 28.6% | — | ||
| Q4 25 | 31.8% | — | ||
| Q3 25 | 30.5% | -32.1% | ||
| Q2 25 | 30.2% | — | ||
| Q1 25 | 28.8% | -42.0% | ||
| Q4 24 | 29.8% | -20.2% | ||
| Q3 24 | 26.9% | -65.7% | ||
| Q2 24 | 32.8% | — |
| Q1 26 | $0.81 | — | ||
| Q4 25 | $0.88 | — | ||
| Q3 25 | $0.84 | $-0.29 | ||
| Q2 25 | $0.81 | — | ||
| Q1 25 | $0.74 | $-0.47 | ||
| Q4 24 | $0.87 | $-0.25 | ||
| Q3 24 | $0.65 | $-0.53 | ||
| Q2 24 | $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 | $174.9M | $18.9M |
| Total DebtLower is stronger | — | $136.0M |
| Stockholders' EquityBook value | $510.6M | $-10.5M |
| Total Assets | $5.6B | $235.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $174.9M | — | ||
| Q4 25 | $138.4M | — | ||
| Q3 25 | $208.7M | $18.9M | ||
| Q2 25 | $146.2M | — | ||
| Q1 25 | $128.1M | $5.4M | ||
| Q4 24 | $119.9M | $9.5M | ||
| Q3 24 | $121.6M | — | ||
| Q2 24 | $214.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $136.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $124.9M | ||
| Q4 24 | — | $111.3M | ||
| Q3 24 | — | $106.3M | ||
| Q2 24 | — | — |
| Q1 26 | $510.6M | — | ||
| Q4 25 | $503.0M | — | ||
| Q3 25 | $490.7M | $-10.5M | ||
| Q2 25 | $469.3M | — | ||
| Q1 25 | $467.3M | $2.2M | ||
| Q4 24 | $454.7M | $15.4M | ||
| Q3 24 | $452.4M | $-3.9M | ||
| Q2 24 | $430.5M | — |
| Q1 26 | $5.6B | — | ||
| Q4 25 | $5.5B | — | ||
| Q3 25 | $5.5B | $235.2M | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.3B | $237.7M | ||
| Q4 24 | $5.3B | $255.4M | ||
| Q3 24 | $5.3B | $246.8M | ||
| Q2 24 | $5.3B | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 56.05× | ||
| Q4 24 | — | 7.20× | ||
| 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 | — | $1.8M |
| Free Cash FlowOCF − Capex | — | $25.0K |
| FCF MarginFCF / Revenue | — | 0.1% |
| Capex IntensityCapex / Revenue | — | 5.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $76.7M | — | ||
| Q3 25 | $18.2M | $1.8M | ||
| Q2 25 | $19.0M | — | ||
| Q1 25 | $31.7M | $1.2M | ||
| Q4 24 | $63.2M | $-6.1M | ||
| Q3 24 | $17.2M | $-613.0K | ||
| Q2 24 | $8.7M | — |
| Q1 26 | — | — | ||
| Q4 25 | $70.2M | — | ||
| Q3 25 | $16.5M | $25.0K | ||
| Q2 25 | $16.7M | — | ||
| Q1 25 | $30.6M | $-4.3M | ||
| Q4 24 | $55.2M | $-8.6M | ||
| Q3 24 | $15.7M | $-4.0M | ||
| Q2 24 | $7.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 120.3% | — | ||
| Q3 25 | 28.9% | 0.1% | ||
| Q2 25 | 29.8% | — | ||
| Q1 25 | 56.5% | -12.1% | ||
| Q4 24 | 89.1% | -26.3% | ||
| Q3 24 | 30.6% | -16.3% | ||
| Q2 24 | 12.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | 11.1% | — | ||
| Q3 25 | 2.9% | 5.6% | ||
| Q2 25 | 4.1% | — | ||
| Q1 25 | 2.1% | 15.5% | ||
| Q4 24 | 12.8% | 7.5% | ||
| Q3 24 | 2.9% | 13.9% | ||
| Q2 24 | 3.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 4.13× | — | ||
| Q3 25 | 1.04× | — | ||
| Q2 25 | 1.12× | — | ||
| Q1 25 | 2.03× | — | ||
| Q4 24 | 3.42× | — | ||
| Q3 24 | 1.25× | — | ||
| Q2 24 | 0.47× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBCP
| Net Interest Income | $46.9M | 80% |
| Noninterest Income | $12.0M | 20% |
LFCR
| Transferred At Point In Time | $26.6M | 85% |
| Transferred Over Time | $4.5M | 15% |
