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Side-by-side financial comparison of INDEPENDENT BANK CORP (IBCP) and Mama's Creations, Inc. (MAMA). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($58.9M vs $47.3M, roughly 1.2× Mama's Creations, Inc.). INDEPENDENT BANK CORP runs the higher net margin — 28.6% vs 1.1%, a 27.5% gap on every dollar of revenue. Over the past eight quarters, Mama's Creations, Inc.'s revenue compounded faster (33.0% CAGR vs 2.1%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
Mama's Creations, Inc. is a U.S.-based food manufacturing enterprise that produces a wide portfolio of refrigerated ready-to-eat and heat-and-serve food products, including Italian-style meatballs, sausages, pasta dishes, and other prepared meals. It mainly distributes its offerings to grocery retailers, mass merchandisers and foodservice partners across the United States, focusing on convenient, high-quality comfort food for daily consumer demand.
IBCP vs MAMA — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $58.9M | $47.3M |
| Net Profit | $16.9M | $540.0K |
| Gross Margin | — | 23.6% |
| Operating Margin | — | 1.7% |
| Net Margin | 28.6% | 1.1% |
| Revenue YoY | — | 50.0% |
| Net Profit YoY | 8.2% | 31.7% |
| EPS (diluted) | $0.81 | $0.01 |
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 | $47.3M | ||
| Q3 25 | $57.3M | $35.2M | ||
| Q2 25 | $55.9M | $35.3M | ||
| Q1 25 | $54.1M | $33.6M | ||
| Q4 24 | $62.0M | $31.5M | ||
| Q3 24 | $51.4M | $28.4M | ||
| Q2 24 | $56.5M | $29.8M |
| Q1 26 | $16.9M | — | ||
| Q4 25 | $18.6M | $540.0K | ||
| Q3 25 | $17.5M | $1.3M | ||
| Q2 25 | $16.9M | $1.2M | ||
| Q1 25 | $15.6M | $1.6M | ||
| Q4 24 | $18.5M | $410.0K | ||
| Q3 24 | $13.8M | $1.1M | ||
| Q2 24 | $18.5M | $553.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | 23.6% | ||
| Q3 25 | — | 24.9% | ||
| Q2 25 | — | 26.1% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | — | 22.6% | ||
| Q3 24 | — | 24.2% | ||
| Q2 24 | — | 25.0% |
| Q1 26 | — | — | ||
| Q4 25 | 34.8% | 1.7% | ||
| Q3 25 | 37.0% | 4.8% | ||
| Q2 25 | 37.0% | 4.5% | ||
| Q1 25 | 35.3% | 5.7% | ||
| Q4 24 | 36.7% | 1.8% | ||
| Q3 24 | 33.7% | 5.7% | ||
| Q2 24 | 41.0% | 2.6% |
| Q1 26 | 28.6% | — | ||
| Q4 25 | 31.8% | 1.1% | ||
| Q3 25 | 30.5% | 3.6% | ||
| Q2 25 | 30.2% | 3.5% | ||
| Q1 25 | 28.8% | 4.8% | ||
| Q4 24 | 29.8% | 1.3% | ||
| Q3 24 | 26.9% | 4.0% | ||
| Q2 24 | 32.8% | 1.9% |
| Q1 26 | $0.81 | — | ||
| Q4 25 | $0.88 | $0.01 | ||
| Q3 25 | $0.84 | $0.03 | ||
| Q2 25 | $0.81 | $0.03 | ||
| Q1 25 | $0.74 | $0.04 | ||
| Q4 24 | $0.87 | $0.01 | ||
| Q3 24 | $0.65 | $0.03 | ||
| Q2 24 | $0.88 | $0.01 |
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 | $18.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $510.6M | $49.6M |
| Total Assets | $5.6B | $84.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $174.9M | — | ||
| Q4 25 | $138.4M | $18.1M | ||
| Q3 25 | $208.7M | $9.4M | ||
| Q2 25 | $146.2M | $12.0M | ||
| Q1 25 | $128.1M | $7.2M | ||
| Q4 24 | $119.9M | $9.3M | ||
| Q3 24 | $121.6M | $7.4M | ||
| Q2 24 | $214.3M | $13.0M |
| Q1 26 | $510.6M | — | ||
| Q4 25 | $503.0M | $49.6M | ||
| Q3 25 | $490.7M | $29.6M | ||
| Q2 25 | $469.3M | $26.4M | ||
| Q1 25 | $467.3M | $24.9M | ||
| Q4 24 | $454.7M | $23.0M | ||
| Q3 24 | $452.4M | $22.3M | ||
| Q2 24 | $430.5M | $20.3M |
| Q1 26 | $5.6B | — | ||
| Q4 25 | $5.5B | $84.0M | ||
| Q3 25 | $5.5B | $51.2M | ||
| Q2 25 | $5.4B | $52.7M | ||
| Q1 25 | $5.3B | $47.1M | ||
| Q4 24 | $5.3B | $47.9M | ||
| Q3 24 | $5.3B | $43.0M | ||
| Q2 24 | $5.3B | $47.2M |
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 | — | $3.9M |
| Free Cash FlowOCF − Capex | — | $3.7M |
| FCF MarginFCF / Revenue | — | 7.8% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | — | 7.16× |
| TTM Free Cash FlowTrailing 4 quarters | — | $6.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $76.7M | $3.9M | ||
| Q3 25 | $18.2M | $-1.7M | ||
| Q2 25 | $19.0M | $6.0M | ||
| Q1 25 | $31.7M | $-857.0K | ||
| Q4 24 | $63.2M | $4.8M | ||
| Q3 24 | $17.2M | $-2.4M | ||
| Q2 24 | $8.7M | $3.6M |
| Q1 26 | — | — | ||
| Q4 25 | $70.2M | $3.7M | ||
| Q3 25 | $16.5M | $-2.2M | ||
| Q2 25 | $16.7M | $5.5M | ||
| Q1 25 | $30.6M | $-930.0K | ||
| Q4 24 | $55.2M | $2.5M | ||
| Q3 24 | $15.7M | $-4.0M | ||
| Q2 24 | $7.0M | $2.5M |
| Q1 26 | — | — | ||
| Q4 25 | 120.3% | 7.8% | ||
| Q3 25 | 28.9% | -6.2% | ||
| Q2 25 | 29.8% | 15.5% | ||
| Q1 25 | 56.5% | -2.8% | ||
| Q4 24 | 89.1% | 8.0% | ||
| Q3 24 | 30.6% | -14.1% | ||
| Q2 24 | 12.3% | 8.4% |
| Q1 26 | — | — | ||
| Q4 25 | 11.1% | 0.4% | ||
| Q3 25 | 2.9% | 1.5% | ||
| Q2 25 | 4.1% | 1.5% | ||
| Q1 25 | 2.1% | 0.2% | ||
| Q4 24 | 12.8% | 7.2% | ||
| Q3 24 | 2.9% | 5.6% | ||
| Q2 24 | 3.1% | 3.8% |
| Q1 26 | — | — | ||
| Q4 25 | 4.13× | 7.16× | ||
| Q3 25 | 1.04× | -1.31× | ||
| Q2 25 | 1.12× | 4.85× | ||
| Q1 25 | 2.03× | -0.54× | ||
| Q4 24 | 3.42× | 11.71× | ||
| Q3 24 | 1.25× | -2.10× | ||
| Q2 24 | 0.47× | 6.58× |
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% |
MAMA
Segment breakdown not available.
