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Side-by-side financial comparison of INDEPENDENT BANK CORP (IBCP) and PUMA BIOTECHNOLOGY, INC. (PBYI). Click either name above to swap in a different company.
PUMA BIOTECHNOLOGY, INC. is the larger business by last-quarter revenue ($75.5M vs $58.9M, roughly 1.3× INDEPENDENT BANK CORP). Over the past eight quarters, PUMA BIOTECHNOLOGY, INC.'s revenue compounded faster (31.3% 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.
Puma Biotechnology is a publicly traded biopharmaceutical company headquartered in Los Angeles, CA.
IBCP vs PBYI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $58.9M | $75.5M |
| Net Profit | $16.9M | — |
| Gross Margin | — | 69.3% |
| Operating Margin | — | 22.7% |
| Net Margin | 28.6% | — |
| Revenue YoY | — | 27.7% |
| Net Profit YoY | 8.2% | — |
| EPS (diluted) | $0.81 | $0.26 |
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 | $75.5M | ||
| Q3 25 | $57.3M | $54.5M | ||
| Q2 25 | $55.9M | $52.4M | ||
| Q1 25 | $54.1M | $46.0M | ||
| Q4 24 | $62.0M | $59.1M | ||
| Q3 24 | $51.4M | $80.5M | ||
| Q2 24 | $56.5M | $47.1M |
| Q1 26 | $16.9M | — | ||
| Q4 25 | $18.6M | — | ||
| Q3 25 | $17.5M | $8.8M | ||
| Q2 25 | $16.9M | $5.9M | ||
| Q1 25 | $15.6M | $3.0M | ||
| Q4 24 | $18.5M | — | ||
| Q3 24 | $13.8M | $20.3M | ||
| Q2 24 | $18.5M | $-4.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | 69.3% | ||
| Q3 25 | — | 77.7% | ||
| Q2 25 | — | 76.5% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | — | 63.9% | ||
| Q2 24 | — | 77.4% |
| Q1 26 | — | — | ||
| Q4 25 | 34.8% | 22.7% | ||
| Q3 25 | 37.0% | 17.6% | ||
| Q2 25 | 37.0% | 12.7% | ||
| Q1 25 | 35.3% | 8.7% | ||
| Q4 24 | 36.7% | 22.6% | ||
| Q3 24 | 33.7% | 27.4% | ||
| Q2 24 | 41.0% | -4.6% |
| Q1 26 | 28.6% | — | ||
| Q4 25 | 31.8% | — | ||
| Q3 25 | 30.5% | 16.2% | ||
| Q2 25 | 30.2% | 11.2% | ||
| Q1 25 | 28.8% | 6.5% | ||
| Q4 24 | 29.8% | — | ||
| Q3 24 | 26.9% | 25.2% | ||
| Q2 24 | 32.8% | -9.6% |
| Q1 26 | $0.81 | — | ||
| Q4 25 | $0.88 | $0.26 | ||
| Q3 25 | $0.84 | $0.17 | ||
| Q2 25 | $0.81 | $0.12 | ||
| Q1 25 | $0.74 | $0.06 | ||
| Q4 24 | $0.87 | $0.40 | ||
| Q3 24 | $0.65 | $0.41 | ||
| Q2 24 | $0.88 | $-0.09 |
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 | $97.5M |
| Total DebtLower is stronger | — | $22.7M |
| Stockholders' EquityBook value | $510.6M | $130.3M |
| Total Assets | $5.6B | $216.3M |
| Debt / EquityLower = less leverage | — | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $174.9M | — | ||
| Q4 25 | $138.4M | $97.5M | ||
| Q3 25 | $208.7M | $94.4M | ||
| Q2 25 | $146.2M | $96.0M | ||
| Q1 25 | $128.1M | $93.2M | ||
| Q4 24 | $119.9M | $101.0M | ||
| Q3 24 | $121.6M | $96.7M | ||
| Q2 24 | $214.3M | $96.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $22.7M | ||
| Q3 25 | — | $34.0M | ||
| Q2 25 | — | $45.3M | ||
| Q1 25 | — | $56.7M | ||
| Q4 24 | — | $68.0M | ||
| Q3 24 | — | $79.3M | ||
| Q2 24 | — | $90.7M |
| Q1 26 | $510.6M | — | ||
| Q4 25 | $503.0M | $130.3M | ||
| Q3 25 | $490.7M | $115.3M | ||
| Q2 25 | $469.3M | $104.7M | ||
| Q1 25 | $467.3M | $97.1M | ||
| Q4 24 | $454.7M | $92.1M | ||
| Q3 24 | $452.4M | $71.1M | ||
| Q2 24 | $430.5M | $48.5M |
| Q1 26 | $5.6B | — | ||
| Q4 25 | $5.5B | $216.3M | ||
| Q3 25 | $5.5B | $202.9M | ||
| Q2 25 | $5.4B | $194.9M | ||
| Q1 25 | $5.3B | $196.2M | ||
| Q4 24 | $5.3B | $213.3M | ||
| Q3 24 | $5.3B | $220.7M | ||
| Q2 24 | $5.3B | $205.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.43× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 1.12× | ||
| Q2 24 | — | 1.87× |
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 | — | $14.4M |
| Free Cash FlowOCF − Capex | — | $14.4M |
| FCF MarginFCF / Revenue | — | 19.1% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $41.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $76.7M | $14.4M | ||
| Q3 25 | $18.2M | $9.7M | ||
| Q2 25 | $19.0M | $14.1M | ||
| Q1 25 | $31.7M | $3.6M | ||
| Q4 24 | $63.2M | $15.6M | ||
| Q3 24 | $17.2M | $11.0M | ||
| Q2 24 | $8.7M | $1.0M |
| Q1 26 | — | — | ||
| Q4 25 | $70.2M | $14.4M | ||
| Q3 25 | $16.5M | $9.7M | ||
| Q2 25 | $16.7M | $14.1M | ||
| Q1 25 | $30.6M | $3.6M | ||
| Q4 24 | $55.2M | $15.6M | ||
| Q3 24 | $15.7M | $11.0M | ||
| Q2 24 | $7.0M | $1.0M |
| Q1 26 | — | — | ||
| Q4 25 | 120.3% | 19.1% | ||
| Q3 25 | 28.9% | 17.7% | ||
| Q2 25 | 29.8% | 26.8% | ||
| Q1 25 | 56.5% | 7.7% | ||
| Q4 24 | 89.1% | 26.4% | ||
| Q3 24 | 30.6% | 13.7% | ||
| Q2 24 | 12.3% | 2.1% |
| Q1 26 | — | — | ||
| Q4 25 | 11.1% | 0.0% | ||
| Q3 25 | 2.9% | 0.0% | ||
| Q2 25 | 4.1% | 0.0% | ||
| Q1 25 | 2.1% | 0.1% | ||
| Q4 24 | 12.8% | 0.0% | ||
| Q3 24 | 2.9% | 0.0% | ||
| Q2 24 | 3.1% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 4.13× | — | ||
| Q3 25 | 1.04× | 1.10× | ||
| Q2 25 | 1.12× | 2.41× | ||
| Q1 25 | 2.03× | 1.21× | ||
| Q4 24 | 3.42× | — | ||
| Q3 24 | 1.25× | 0.54× | ||
| 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% |
PBYI
Segment breakdown not available.
