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Side-by-side financial comparison of INDEPENDENT BANK CORP (INDB) and OPKO HEALTH, INC. (OPK). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($212.5M vs $148.5M, roughly 1.4× OPKO HEALTH, INC.). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs -21.1%, a 56.5% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs -19.2%). INDEPENDENT BANK CORP produced more free cash flow last quarter ($75.5M vs $-28.6M). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs -7.5%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
OPKO Health, Inc. is a medical test and medication company focused on diagnostics and pharmaceuticals. The company is a publicly traded company on NASDAQ and TASE under the symbol "OPK".
INDB vs OPK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $212.5M | $148.5M |
| Net Profit | $75.3M | $-31.3M |
| Gross Margin | — | 43.1% |
| Operating Margin | — | -25.8% |
| Net Margin | 35.5% | -21.1% |
| Revenue YoY | 46.9% | -19.2% |
| Net Profit YoY | 50.6% | -322.8% |
| EPS (diluted) | $1.51 | $-0.04 |
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 | $148.5M | ||
| Q3 25 | $203.3M | $151.7M | ||
| Q2 25 | $147.5M | $156.8M | ||
| Q1 25 | $145.5M | $150.0M | ||
| Q4 24 | $144.7M | $183.6M | ||
| Q3 24 | $141.7M | $173.6M | ||
| Q2 24 | $137.9M | $182.2M | ||
| Q1 24 | $137.4M | $173.7M |
| Q4 25 | $75.3M | $-31.3M | ||
| Q3 25 | $34.3M | $21.6M | ||
| Q2 25 | $51.1M | $-148.4M | ||
| Q1 25 | $44.4M | $-67.6M | ||
| Q4 24 | $50.0M | $14.0M | ||
| Q3 24 | $42.9M | $24.9M | ||
| Q2 24 | $51.3M | $-10.3M | ||
| Q1 24 | $47.8M | $-81.8M |
| Q4 25 | — | 43.1% | ||
| Q3 25 | — | 32.9% | ||
| Q2 25 | — | 31.5% | ||
| Q1 25 | — | 28.4% | ||
| Q4 24 | — | 46.1% | ||
| Q3 24 | — | 23.1% | ||
| Q2 24 | — | 28.4% | ||
| Q1 24 | — | 24.2% |
| Q4 25 | — | -25.8% | ||
| Q3 25 | 21.8% | 31.7% | ||
| Q2 25 | 44.6% | -38.3% | ||
| Q1 25 | 39.3% | -44.8% | ||
| Q4 24 | — | -18.0% | ||
| Q3 24 | 39.0% | 8.2% | ||
| Q2 24 | 48.1% | -33.9% | ||
| Q1 24 | 45.5% | -41.2% |
| Q4 25 | 35.5% | -21.1% | ||
| Q3 25 | 16.8% | 14.3% | ||
| Q2 25 | 34.6% | -94.7% | ||
| Q1 25 | 30.5% | -45.1% | ||
| Q4 24 | 34.6% | 7.6% | ||
| Q3 24 | 30.3% | 14.3% | ||
| Q2 24 | 37.2% | -5.7% | ||
| Q1 24 | 34.8% | -47.1% |
| Q4 25 | $1.51 | $-0.04 | ||
| Q3 25 | $0.69 | $0.03 | ||
| Q2 25 | $1.20 | $-0.19 | ||
| Q1 25 | $1.04 | $-0.10 | ||
| Q4 24 | $1.18 | $0.02 | ||
| Q3 24 | $1.01 | $0.03 | ||
| Q2 24 | $1.21 | $-0.01 | ||
| Q1 24 | $1.12 | $-0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $364.4M |
| Total DebtLower is stronger | — | $344.0M |
| Stockholders' EquityBook value | $3.6B | $1.3B |
| Total Assets | $24.9B | $1.9B |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $364.4M | ||
| Q3 25 | — | $412.0M | ||
| Q2 25 | — | $267.3M | ||
| Q1 25 | — | $428.8M | ||
| Q4 24 | — | $426.6M | ||
| Q3 24 | — | $400.1M | ||
| Q2 24 | — | $40.6M | ||
| Q1 24 | — | $75.6M |
| Q4 25 | — | $344.0M | ||
| Q3 25 | — | $344.2M | ||
| Q2 25 | — | $343.3M | ||
| Q1 25 | — | $439.2M | ||
| Q4 24 | — | $437.2M | ||
| Q3 24 | — | $441.0M | ||
| Q2 24 | — | $201.9M | ||
| Q1 24 | — | $350.1M |
| Q4 25 | $3.6B | $1.3B | ||
| Q3 25 | $3.5B | $1.3B | ||
| Q2 25 | $3.1B | $1.3B | ||
| Q1 25 | $3.0B | $1.3B | ||
| Q4 24 | $3.0B | $1.4B | ||
| Q3 24 | $3.0B | $1.4B | ||
| Q2 24 | $2.9B | $1.4B | ||
| Q1 24 | $2.9B | $1.3B |
| Q4 25 | $24.9B | $1.9B | ||
| Q3 25 | $25.0B | $2.0B | ||
| Q2 25 | $20.0B | $2.0B | ||
| Q1 25 | $19.9B | $2.1B | ||
| Q4 24 | $19.4B | $2.2B | ||
| Q3 24 | $19.4B | $2.3B | ||
| Q2 24 | $19.4B | $2.0B | ||
| Q1 24 | $19.3B | $2.0B |
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.28× |
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 | $-25.9M |
| Free Cash FlowOCF − Capex | $75.5M | $-28.6M |
| FCF MarginFCF / Revenue | 35.5% | -19.3% |
| Capex IntensityCapex / Revenue | 1.6% | 1.8% |
| Cash ConversionOCF / Net Profit | 1.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | $239.0M | $-190.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.9M | $-25.9M | ||
| Q3 25 | $52.2M | $-34.6M | ||
| Q2 25 | $106.7M | $-83.4M | ||
| Q1 25 | $13.3M | $-34.6M | ||
| Q4 24 | $42.9M | $-44.4M | ||
| Q3 24 | $70.2M | $-77.1M | ||
| Q2 24 | $65.6M | $-26.4M | ||
| Q1 24 | $51.1M | $-35.6M |
| Q4 25 | $75.5M | $-28.6M | ||
| Q3 25 | $49.7M | $-37.8M | ||
| Q2 25 | $102.5M | $-86.7M | ||
| Q1 25 | $11.3M | $-37.7M | ||
| Q4 24 | $36.5M | $-49.8M | ||
| Q3 24 | $64.4M | $-85.0M | ||
| Q2 24 | $61.9M | $-33.7M | ||
| Q1 24 | $46.7M | $-40.0M |
| Q4 25 | 35.5% | -19.3% | ||
| Q3 25 | 24.4% | -24.9% | ||
| Q2 25 | 69.5% | -55.3% | ||
| Q1 25 | 7.8% | -25.2% | ||
| Q4 24 | 25.2% | -27.1% | ||
| Q3 24 | 45.4% | -49.0% | ||
| Q2 24 | 44.9% | -18.5% | ||
| Q1 24 | 34.0% | -23.0% |
| Q4 25 | 1.6% | 1.8% | ||
| Q3 25 | 1.2% | 2.1% | ||
| Q2 25 | 2.9% | 2.1% | ||
| Q1 25 | 1.4% | 2.1% | ||
| Q4 24 | 4.4% | 2.9% | ||
| Q3 24 | 4.1% | 4.6% | ||
| Q2 24 | 2.7% | 4.0% | ||
| Q1 24 | 3.2% | 2.6% |
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.52× | -1.60× | ||
| Q2 25 | 2.09× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.86× | -3.17× | ||
| Q3 24 | 1.64× | -3.10× | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 1.07× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INDB
Segment breakdown not available.
OPK
| Services | $71.1M | 48% |
| Transfer Of Intellectual Property And Other | $33.7M | 23% |
| IE | $22.1M | 15% |
| Rayaldee | $8.8M | 6% |
| Barda Agreement | $6.8M | 5% |
| MX | $6.3M | 4% |
