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Side-by-side financial comparison of INDEPENDENT BANK CORP (IBCP) and Vitesse Energy, Inc. (VTS). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($58.9M vs $58.6M, roughly 1.0× Vitesse Energy, Inc.). INDEPENDENT BANK CORP runs the higher net margin — 28.6% vs -1.3%, a 29.9% gap on every dollar of revenue. Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (2.1% 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.
Vitesse Energy, Inc. is a U.S.-headquartered independent energy company focused on exploration, development, and production of oil and natural gas assets. It operates primarily in high-potential onshore basins including North Dakota's Williston Basin, serving domestic and global upstream energy market demand.
IBCP vs VTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $58.9M | $58.6M |
| Net Profit | $16.9M | $-739.0K |
| Gross Margin | — | — |
| Operating Margin | — | -12.0% |
| Net Margin | 28.6% | -1.3% |
| Revenue YoY | — | 4.8% |
| Net Profit YoY | 8.2% | 85.6% |
| 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 | $58.6M | ||
| Q3 25 | $57.3M | $67.4M | ||
| Q2 25 | $55.9M | $81.8M | ||
| Q1 25 | $54.1M | $66.2M | ||
| Q4 24 | $62.0M | $55.9M | ||
| Q3 24 | $51.4M | $58.3M | ||
| Q2 24 | $56.5M | $66.6M |
| Q1 26 | $16.9M | — | ||
| Q4 25 | $18.6M | $-739.0K | ||
| Q3 25 | $17.5M | $-1.3M | ||
| Q2 25 | $16.9M | $24.7M | ||
| Q1 25 | $15.6M | $2.7M | ||
| Q4 24 | $18.5M | $-5.1M | ||
| Q3 24 | $13.8M | $17.4M | ||
| Q2 24 | $18.5M | $10.9M |
| Q1 26 | — | — | ||
| Q4 25 | 34.8% | -12.0% | ||
| Q3 25 | 37.0% | 0.2% | ||
| Q2 25 | 37.0% | 22.8% | ||
| Q1 25 | 35.3% | 8.1% | ||
| Q4 24 | 36.7% | 3.7% | ||
| Q3 24 | 33.7% | 15.4% | ||
| Q2 24 | 41.0% | 25.2% |
| Q1 26 | 28.6% | — | ||
| Q4 25 | 31.8% | -1.3% | ||
| Q3 25 | 30.5% | -1.9% | ||
| Q2 25 | 30.2% | 30.2% | ||
| Q1 25 | 28.8% | 4.0% | ||
| Q4 24 | 29.8% | -9.2% | ||
| Q3 24 | 26.9% | 29.9% | ||
| Q2 24 | 32.8% | 16.4% |
| Q1 26 | $0.81 | — | ||
| Q4 25 | $0.88 | $-0.01 | ||
| Q3 25 | $0.84 | $-0.03 | ||
| Q2 25 | $0.81 | $0.60 | ||
| Q1 25 | $0.74 | $0.08 | ||
| Q4 24 | $0.87 | $-0.15 | ||
| Q3 24 | $0.65 | $0.53 | ||
| Q2 24 | $0.88 | $0.33 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $510.6M | $629.3M |
| Total Assets | $5.6B | $893.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $174.9M | — | ||
| Q4 25 | $138.4M | — | ||
| Q3 25 | $208.7M | — | ||
| Q2 25 | $146.2M | — | ||
| Q1 25 | $128.1M | $4.5M | ||
| Q4 24 | $119.9M | $3.0M | ||
| Q3 24 | $121.6M | — | ||
| Q2 24 | $214.3M | — |
| Q1 26 | $510.6M | — | ||
| Q4 25 | $503.0M | $629.3M | ||
| Q3 25 | $490.7M | $650.3M | ||
| Q2 25 | $469.3M | $671.9M | ||
| Q1 25 | $467.3M | $667.7M | ||
| Q4 24 | $454.7M | $500.3M | ||
| Q3 24 | $452.4M | $520.4M | ||
| Q2 24 | $430.5M | $518.5M |
| Q1 26 | $5.6B | — | ||
| Q4 25 | $5.5B | $893.4M | ||
| Q3 25 | $5.5B | $932.9M | ||
| Q2 25 | $5.4B | $951.5M | ||
| Q1 25 | $5.3B | $975.2M | ||
| Q4 24 | $5.3B | $810.9M | ||
| Q3 24 | $5.3B | $791.2M | ||
| Q2 24 | $5.3B | $778.4M |
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 | — | $37.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $76.7M | $37.4M | ||
| Q3 25 | $18.2M | $49.4M | ||
| Q2 25 | $19.0M | $66.0M | ||
| Q1 25 | $31.7M | $17.5M | ||
| Q4 24 | $63.2M | $34.7M | ||
| Q3 24 | $17.2M | $45.7M | ||
| Q2 24 | $8.7M | $35.2M |
| Q1 26 | — | — | ||
| Q4 25 | $70.2M | — | ||
| Q3 25 | $16.5M | — | ||
| Q2 25 | $16.7M | — | ||
| Q1 25 | $30.6M | — | ||
| Q4 24 | $55.2M | — | ||
| Q3 24 | $15.7M | — | ||
| Q2 24 | $7.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 120.3% | — | ||
| Q3 25 | 28.9% | — | ||
| Q2 25 | 29.8% | — | ||
| Q1 25 | 56.5% | — | ||
| Q4 24 | 89.1% | — | ||
| Q3 24 | 30.6% | — | ||
| Q2 24 | 12.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | 11.1% | — | ||
| Q3 25 | 2.9% | — | ||
| Q2 25 | 4.1% | — | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | 12.8% | — | ||
| Q3 24 | 2.9% | — | ||
| Q2 24 | 3.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 4.13× | — | ||
| Q3 25 | 1.04× | — | ||
| Q2 25 | 1.12× | 2.68× | ||
| Q1 25 | 2.03× | 6.56× | ||
| Q4 24 | 3.42× | — | ||
| Q3 24 | 1.25× | 2.62× | ||
| Q2 24 | 0.47× | 3.22× |
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% |
VTS
| Oil Reserves | $54.5M | 93% |
| Natural Gas Reserves | $4.2M | 7% |
