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Side-by-side financial comparison of INDEPENDENT BANK CORP (INDB) and Navios Maritime Partners L.P. (NMM). Click either name above to swap in a different company.
Navios Maritime Partners L.P. is the larger business by last-quarter revenue ($327.6M vs $212.5M, roughly 1.5× INDEPENDENT BANK CORP). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs 21.4%, a 14.1% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs -4.3%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
Navios Maritime Holdings Inc. is a multinational, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain.
INDB vs NMM — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $212.5M | $327.6M |
| Net Profit | $75.3M | $69.9M |
| Gross Margin | — | 90.5% |
| Operating Margin | — | — |
| Net Margin | 35.5% | 21.4% |
| Revenue YoY | 46.9% | -4.3% |
| Net Profit YoY | 50.6% | -31.1% |
| EPS (diluted) | $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 | $212.5M | — | ||
| Q3 25 | $203.3M | — | ||
| Q2 25 | $147.5M | $327.6M | ||
| Q1 25 | $145.5M | — | ||
| Q4 24 | $144.7M | — | ||
| Q3 24 | $141.7M | — | ||
| Q2 24 | $137.9M | $342.2M | ||
| Q1 24 | $137.4M | — |
| Q4 25 | $75.3M | — | ||
| Q3 25 | $34.3M | — | ||
| Q2 25 | $51.1M | $69.9M | ||
| Q1 25 | $44.4M | — | ||
| Q4 24 | $50.0M | — | ||
| Q3 24 | $42.9M | — | ||
| Q2 24 | $51.3M | $101.5M | ||
| Q1 24 | $47.8M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 90.5% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 88.3% | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 21.8% | — | ||
| Q2 25 | 44.6% | — | ||
| Q1 25 | 39.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 39.0% | — | ||
| Q2 24 | 48.1% | — | ||
| Q1 24 | 45.5% | — |
| Q4 25 | 35.5% | — | ||
| Q3 25 | 16.8% | — | ||
| Q2 25 | 34.6% | 21.4% | ||
| Q1 25 | 30.5% | — | ||
| Q4 24 | 34.6% | — | ||
| Q3 24 | 30.3% | — | ||
| Q2 24 | 37.2% | 29.7% | ||
| Q1 24 | 34.8% | — |
| Q4 25 | $1.51 | — | ||
| Q3 25 | $0.69 | — | ||
| Q2 25 | $1.20 | — | ||
| Q1 25 | $1.04 | — | ||
| Q4 24 | $1.18 | — | ||
| Q3 24 | $1.01 | — | ||
| Q2 24 | $1.21 | — | ||
| Q1 24 | $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 | — | $377.0M |
| Total DebtLower is stronger | — | $2.0B |
| Stockholders' EquityBook value | $3.6B | — |
| Total Assets | $24.9B | $5.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $377.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $272.0M | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | — |
| Q4 25 | $3.6B | — | ||
| Q3 25 | $3.5B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $2.9B | — | ||
| Q1 24 | $2.9B | — |
| Q4 25 | $24.9B | — | ||
| Q3 25 | $25.0B | — | ||
| Q2 25 | $20.0B | $5.9B | ||
| Q1 25 | $19.9B | — | ||
| Q4 24 | $19.4B | — | ||
| Q3 24 | $19.4B | — | ||
| Q2 24 | $19.4B | $5.3B | ||
| Q1 24 | $19.3B | — |
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 | $78.9M | — |
| Free Cash FlowOCF − Capex | $75.5M | — |
| FCF MarginFCF / Revenue | 35.5% | — |
| Capex IntensityCapex / Revenue | 1.6% | — |
| Cash ConversionOCF / Net Profit | 1.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | $239.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.9M | — | ||
| Q3 25 | $52.2M | — | ||
| Q2 25 | $106.7M | — | ||
| Q1 25 | $13.3M | — | ||
| Q4 24 | $42.9M | — | ||
| Q3 24 | $70.2M | — | ||
| Q2 24 | $65.6M | — | ||
| Q1 24 | $51.1M | — |
| Q4 25 | $75.5M | — | ||
| Q3 25 | $49.7M | — | ||
| Q2 25 | $102.5M | — | ||
| Q1 25 | $11.3M | — | ||
| Q4 24 | $36.5M | — | ||
| Q3 24 | $64.4M | — | ||
| Q2 24 | $61.9M | — | ||
| Q1 24 | $46.7M | — |
| Q4 25 | 35.5% | — | ||
| Q3 25 | 24.4% | — | ||
| Q2 25 | 69.5% | — | ||
| Q1 25 | 7.8% | — | ||
| Q4 24 | 25.2% | — | ||
| Q3 24 | 45.4% | — | ||
| Q2 24 | 44.9% | — | ||
| Q1 24 | 34.0% | — |
| Q4 25 | 1.6% | — | ||
| Q3 25 | 1.2% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 1.4% | — | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 4.1% | — | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | 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.
