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Side-by-side financial comparison of INDEPENDENT BANK CORP (INDB) and Enpro Inc. (NPO). Click either name above to swap in a different company.
Enpro Inc. is the larger business by last-quarter revenue ($295.4M vs $212.5M, roughly 1.4× INDEPENDENT BANK CORP). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs -10.8%, a 46.3% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs 14.3%). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs 7.1%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
Enpro is a US-based industrial technology company that designs and manufactures products and materials for technology-intensive sectors. The company serves industries such as semiconductors, aerospace, power generation, heavy-duty trucking, agricultural machinery, chemical processing, pulp and paper, and life sciences from 61 primary manufacturing facilities located in 12 countries, worldwide. It is organized under three segments: Sealing Technologies, Advanced Surface Technologies, and Engin...
INDB vs NPO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $212.5M | $295.4M |
| Net Profit | $75.3M | $-32.0M |
| Gross Margin | — | 42.1% |
| Operating Margin | — | 11.2% |
| Net Margin | 35.5% | -10.8% |
| Revenue YoY | 46.9% | 14.3% |
| Net Profit YoY | 50.6% | -330.2% |
| EPS (diluted) | $1.51 | $-1.50 |
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 | $295.4M | ||
| Q3 25 | $203.3M | $286.6M | ||
| Q2 25 | $147.5M | $288.1M | ||
| Q1 25 | $145.5M | $273.2M | ||
| Q4 24 | $144.7M | $258.4M | ||
| Q3 24 | $141.7M | $260.9M | ||
| Q2 24 | $137.9M | $271.9M | ||
| Q1 24 | $137.4M | $257.5M |
| Q4 25 | $75.3M | $-32.0M | ||
| Q3 25 | $34.3M | $21.6M | ||
| Q2 25 | $51.1M | $26.4M | ||
| Q1 25 | $44.4M | $24.5M | ||
| Q4 24 | $50.0M | $13.9M | ||
| Q3 24 | $42.9M | $19.8M | ||
| Q2 24 | $51.3M | $26.7M | ||
| Q1 24 | $47.8M | $12.5M |
| Q4 25 | — | 42.1% | ||
| Q3 25 | — | 41.9% | ||
| Q2 25 | — | 43.3% | ||
| Q1 25 | — | 43.3% | ||
| Q4 24 | — | 42.3% | ||
| Q3 24 | — | 42.3% | ||
| Q2 24 | — | 43.8% | ||
| Q1 24 | — | 41.2% |
| Q4 25 | — | 11.2% | ||
| Q3 25 | 21.8% | 14.3% | ||
| Q2 25 | 44.6% | 15.9% | ||
| Q1 25 | 39.3% | 15.3% | ||
| Q4 24 | — | 12.5% | ||
| Q3 24 | 39.0% | 13.1% | ||
| Q2 24 | 48.1% | 17.7% | ||
| Q1 24 | 45.5% | 10.9% |
| Q4 25 | 35.5% | -10.8% | ||
| Q3 25 | 16.8% | 7.5% | ||
| Q2 25 | 34.6% | 9.2% | ||
| Q1 25 | 30.5% | 9.0% | ||
| Q4 24 | 34.6% | 5.4% | ||
| Q3 24 | 30.3% | 7.6% | ||
| Q2 24 | 37.2% | 9.8% | ||
| Q1 24 | 34.8% | 4.9% |
| Q4 25 | $1.51 | $-1.50 | ||
| Q3 25 | $0.69 | $1.01 | ||
| Q2 25 | $1.20 | $1.25 | ||
| Q1 25 | $1.04 | $1.15 | ||
| Q4 24 | $1.18 | $0.65 | ||
| Q3 24 | $1.01 | $0.94 | ||
| Q2 24 | $1.21 | $1.27 | ||
| Q1 24 | $1.12 | $0.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $114.7M |
| Total DebtLower is stronger | — | $655.3M |
| Stockholders' EquityBook value | $3.6B | $1.5B |
| Total Assets | $24.9B | $2.7B |
| Debt / EquityLower = less leverage | — | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $114.7M | ||
| Q3 25 | — | $132.9M | ||
| Q2 25 | — | $107.1M | ||
| Q1 25 | — | $240.3M | ||
| Q4 24 | — | $236.3M | ||
| Q3 24 | — | $206.9M | ||
| Q2 24 | — | $175.9M | ||
| Q1 24 | — | $163.9M |
| Q4 25 | — | $655.3M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $640.1M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $644.9M |
| Q4 25 | $3.6B | $1.5B | ||
| Q3 25 | $3.5B | $1.5B | ||
| Q2 25 | $3.1B | $1.5B | ||
| Q1 25 | $3.0B | $1.5B | ||
| Q4 24 | $3.0B | $1.4B | ||
| Q3 24 | $3.0B | $1.5B | ||
| Q2 24 | $2.9B | $1.4B | ||
| Q1 24 | $2.9B | $1.4B |
| Q4 25 | $24.9B | $2.7B | ||
| Q3 25 | $25.0B | $2.4B | ||
| Q2 25 | $20.0B | $2.4B | ||
| Q1 25 | $19.9B | $2.5B | ||
| Q4 24 | $19.4B | $2.5B | ||
| Q3 24 | $19.4B | $2.5B | ||
| Q2 24 | $19.4B | $2.5B | ||
| Q1 24 | $19.3B | $2.5B |
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.45× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.46× |
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% | 4.1% |
| 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 | $65.3M | ||
| Q2 25 | $106.7M | $52.2M | ||
| Q1 25 | $13.3M | $21.0M | ||
| Q4 24 | $42.9M | $59.4M | ||
| Q3 24 | $70.2M | $54.0M | ||
| Q2 24 | $65.6M | $43.2M | ||
| Q1 24 | $51.1M | $6.3M |
| Q4 25 | $75.5M | — | ||
| Q3 25 | $49.7M | $53.4M | ||
| Q2 25 | $102.5M | $42.3M | ||
| Q1 25 | $11.3M | $13.0M | ||
| Q4 24 | $36.5M | $49.1M | ||
| Q3 24 | $64.4M | $48.3M | ||
| Q2 24 | $61.9M | $38.3M | ||
| Q1 24 | $46.7M | $-1.9M |
| Q4 25 | 35.5% | — | ||
| Q3 25 | 24.4% | 18.6% | ||
| Q2 25 | 69.5% | 14.7% | ||
| Q1 25 | 7.8% | 4.8% | ||
| Q4 24 | 25.2% | 19.0% | ||
| Q3 24 | 45.4% | 18.5% | ||
| Q2 24 | 44.9% | 14.1% | ||
| Q1 24 | 34.0% | -0.7% |
| Q4 25 | 1.6% | 4.1% | ||
| Q3 25 | 1.2% | 4.2% | ||
| Q2 25 | 2.9% | 3.4% | ||
| Q1 25 | 1.4% | 2.9% | ||
| Q4 24 | 4.4% | 4.0% | ||
| Q3 24 | 4.1% | 2.2% | ||
| Q2 24 | 2.7% | 1.8% | ||
| Q1 24 | 3.2% | 3.2% |
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.52× | 3.02× | ||
| Q2 25 | 2.09× | 1.98× | ||
| Q1 25 | 0.30× | 0.86× | ||
| Q4 24 | 0.86× | 4.27× | ||
| Q3 24 | 1.64× | 2.73× | ||
| Q2 24 | 1.28× | 1.62× | ||
| Q1 24 | 1.07× | 0.50× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INDB
Segment breakdown not available.
NPO
| Sealing Technologies Segment | $187.0M | 63% |
| General Industrial | $71.3M | 24% |
| Power Generation | $19.9M | 7% |
| Oiland Gas Market | $15.0M | 5% |
| Semiconductors | $2.2M | 1% |
