vs
Side-by-side financial comparison of INDEPENDENT BANK CORP (INDB) and OneStream, Inc. (OS). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($212.5M vs $163.7M, roughly 1.3× OneStream, Inc.). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs 0.6%, a 34.8% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs 23.6%). INDEPENDENT BANK CORP produced more free cash flow last quarter ($75.5M vs $25.6M). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs 21.8%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
Blue Stream provides cable television, cable telephone, DVR, and up to 1 GIG Internet speed broadband services to customers in the Florida communities of Coral Springs and Weston.
INDB vs OS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $212.5M | $163.7M |
| Net Profit | $75.3M | $999.0K |
| Gross Margin | — | 69.8% |
| Operating Margin | — | -3.2% |
| Net Margin | 35.5% | 0.6% |
| Revenue YoY | 46.9% | 23.6% |
| Net Profit YoY | 50.6% | — |
| 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 | $163.7M | ||
| Q3 25 | $203.3M | $154.3M | ||
| Q2 25 | $147.5M | $147.6M | ||
| Q1 25 | $145.5M | $136.3M | ||
| Q4 24 | $144.7M | $132.5M | ||
| Q3 24 | $141.7M | $129.1M | ||
| Q2 24 | $137.9M | $117.5M | ||
| Q1 24 | $137.4M | $110.3M |
| Q4 25 | $75.3M | $999.0K | ||
| Q3 25 | $34.3M | $-8.8M | ||
| Q2 25 | $51.1M | $-18.4M | ||
| Q1 25 | $44.4M | $-24.0M | ||
| Q4 24 | $50.0M | — | ||
| Q3 24 | $42.9M | $-171.9M | ||
| Q2 24 | $51.3M | $-7.8M | ||
| Q1 24 | $47.8M | $-5.0M |
| Q4 25 | — | 69.8% | ||
| Q3 25 | — | 68.1% | ||
| Q2 25 | — | 68.6% | ||
| Q1 25 | — | 68.0% | ||
| Q4 24 | — | 66.8% | ||
| Q3 24 | — | 50.1% | ||
| Q2 24 | — | 68.5% | ||
| Q1 24 | — | 69.1% |
| Q4 25 | — | -3.2% | ||
| Q3 25 | 21.8% | -11.3% | ||
| Q2 25 | 44.6% | -21.8% | ||
| Q1 25 | 39.3% | -29.3% | ||
| Q4 24 | — | -35.8% | ||
| Q3 24 | 39.0% | -197.6% | ||
| Q2 24 | 48.1% | -9.8% | ||
| Q1 24 | 45.5% | -4.9% |
| Q4 25 | 35.5% | 0.6% | ||
| Q3 25 | 16.8% | -5.7% | ||
| Q2 25 | 34.6% | -12.5% | ||
| Q1 25 | 30.5% | -17.6% | ||
| Q4 24 | 34.6% | — | ||
| Q3 24 | 30.3% | -133.1% | ||
| Q2 24 | 37.2% | -6.7% | ||
| Q1 24 | 34.8% | -4.5% |
| Q4 25 | $1.51 | — | ||
| Q3 25 | $0.69 | — | ||
| Q2 25 | $1.20 | — | ||
| Q1 25 | $1.04 | — | ||
| Q4 24 | $1.18 | — | ||
| Q3 24 | $1.01 | $-1.06 | ||
| 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 | — | $693.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.6B | $504.7M |
| Total Assets | $24.9B | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $693.6M | ||
| Q3 25 | — | $653.9M | ||
| Q2 25 | — | $652.1M | ||
| Q1 25 | — | $593.9M | ||
| Q4 24 | — | $544.2M | ||
| Q3 24 | — | $495.5M | ||
| Q2 24 | — | $140.5M | ||
| Q1 24 | — | — |
| Q4 25 | $3.6B | $504.7M | ||
| Q3 25 | $3.5B | $472.1M | ||
| Q2 25 | $3.1B | $458.2M | ||
| Q1 25 | $3.0B | $412.9M | ||
| Q4 24 | $3.0B | $386.2M | ||
| Q3 24 | $3.0B | $458.2M | ||
| Q2 24 | $2.9B | $97.5M | ||
| Q1 24 | $2.9B | $102.5M |
| Q4 25 | $24.9B | $1.0B | ||
| Q3 25 | $25.0B | $949.4M | ||
| Q2 25 | $20.0B | $910.5M | ||
| Q1 25 | $19.9B | $867.3M | ||
| Q4 24 | $19.4B | $823.2M | ||
| Q3 24 | $19.4B | $750.1M | ||
| Q2 24 | $19.4B | $379.7M | ||
| 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 | $25.8M |
| Free Cash FlowOCF − Capex | $75.5M | $25.6M |
| FCF MarginFCF / Revenue | 35.5% | 15.7% |
| Capex IntensityCapex / Revenue | 1.6% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.05× | 25.79× |
| TTM Free Cash FlowTrailing 4 quarters | $239.0M | $95.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.9M | $25.8M | ||
| Q3 25 | $52.2M | $5.0M | ||
| Q2 25 | $106.7M | $29.7M | ||
| Q1 25 | $13.3M | $36.2M | ||
| Q4 24 | $42.9M | — | ||
| Q3 24 | $70.2M | $2.4M | ||
| Q2 24 | $65.6M | $8.1M | ||
| Q1 24 | $51.1M | $25.5M |
| Q4 25 | $75.5M | $25.6M | ||
| Q3 25 | $49.7M | $4.8M | ||
| Q2 25 | $102.5M | $29.4M | ||
| Q1 25 | $11.3M | $35.8M | ||
| Q4 24 | $36.5M | — | ||
| Q3 24 | $64.4M | $1.3M | ||
| Q2 24 | $61.9M | $7.7M | ||
| Q1 24 | $46.7M | $24.9M |
| Q4 25 | 35.5% | 15.7% | ||
| Q3 25 | 24.4% | 3.1% | ||
| Q2 25 | 69.5% | 19.9% | ||
| Q1 25 | 7.8% | 26.3% | ||
| Q4 24 | 25.2% | — | ||
| Q3 24 | 45.4% | 1.0% | ||
| Q2 24 | 44.9% | 6.6% | ||
| Q1 24 | 34.0% | 22.5% |
| Q4 25 | 1.6% | 0.1% | ||
| Q3 25 | 1.2% | 0.1% | ||
| Q2 25 | 2.9% | 0.2% | ||
| Q1 25 | 1.4% | 0.3% | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 4.1% | 0.8% | ||
| Q2 24 | 2.7% | 0.3% | ||
| Q1 24 | 3.2% | 0.6% |
| Q4 25 | 1.05× | 25.79× | ||
| 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.
Revenue Breakdown by Segment
INDB
Segment breakdown not available.
OS
| Subscription And Circulation | $150.3M | 92% |
| Professional Services And Other | $9.4M | 6% |
| License | $4.0M | 2% |
