vs
Side-by-side financial comparison of INDEPENDENT BANK CORP (INDB) and PTC THERAPEUTICS, INC. (PTCT). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($212.5M vs $164.7M, roughly 1.3× PTC THERAPEUTICS, INC.). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs -82.0%, a 117.4% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs -22.7%). INDEPENDENT BANK CORP produced more free cash flow last quarter ($75.5M vs $-36.6M). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs -11.5%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
PTC Therapeutics, Inc. is a US pharmaceutical company focused on the development of orally administered small molecule drugs and gene therapy which regulate gene expression by targeting post-transcriptional control (PTC) mechanisms in orphan diseases.
INDB vs PTCT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $212.5M | $164.7M |
| Net Profit | $75.3M | $-135.0M |
| Gross Margin | — | — |
| Operating Margin | — | -43.3% |
| Net Margin | 35.5% | -82.0% |
| Revenue YoY | 46.9% | -22.7% |
| Net Profit YoY | 50.6% | -104.8% |
| EPS (diluted) | $1.51 | $-1.63 |
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 | $164.7M | ||
| Q3 25 | $203.3M | $211.0M | ||
| Q2 25 | $147.5M | $178.9M | ||
| Q1 25 | $145.5M | $1.2B | ||
| Q4 24 | $144.7M | $213.2M | ||
| Q3 24 | $141.7M | $196.8M | ||
| Q2 24 | $137.9M | $186.7M | ||
| Q1 24 | $137.4M | $210.1M |
| Q4 25 | $75.3M | $-135.0M | ||
| Q3 25 | $34.3M | $15.9M | ||
| Q2 25 | $51.1M | $-64.8M | ||
| Q1 25 | $44.4M | $866.6M | ||
| Q4 24 | $50.0M | $-65.9M | ||
| Q3 24 | $42.9M | $-106.7M | ||
| Q2 24 | $51.3M | $-99.2M | ||
| Q1 24 | $47.8M | $-91.6M |
| Q4 25 | — | -43.3% | ||
| Q3 25 | 21.8% | 1.4% | ||
| Q2 25 | 44.6% | -19.5% | ||
| Q1 25 | 39.3% | 82.5% | ||
| Q4 24 | — | -76.2% | ||
| Q3 24 | 39.0% | -27.7% | ||
| Q2 24 | 48.1% | -21.5% | ||
| Q1 24 | 45.5% | -21.6% |
| Q4 25 | 35.5% | -82.0% | ||
| Q3 25 | 16.8% | 7.5% | ||
| Q2 25 | 34.6% | -36.3% | ||
| Q1 25 | 30.5% | 73.7% | ||
| Q4 24 | 34.6% | -30.9% | ||
| Q3 24 | 30.3% | -54.2% | ||
| Q2 24 | 37.2% | -53.1% | ||
| Q1 24 | 34.8% | -43.6% |
| Q4 25 | $1.51 | $-1.63 | ||
| Q3 25 | $0.69 | $0.20 | ||
| Q2 25 | $1.20 | $-0.83 | ||
| Q1 25 | $1.04 | $10.04 | ||
| Q4 24 | $1.18 | $-0.85 | ||
| Q3 24 | $1.01 | $-1.39 | ||
| Q2 24 | $1.21 | $-1.29 | ||
| Q1 24 | $1.12 | $-1.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.9B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.6B | $-205.3M |
| Total Assets | $24.9B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $884.8M |
| Q4 25 | $3.6B | $-205.3M | ||
| Q3 25 | $3.5B | $-155.8M | ||
| Q2 25 | $3.1B | $-206.5M | ||
| Q1 25 | $3.0B | $-185.8M | ||
| Q4 24 | $3.0B | $-1.1B | ||
| Q3 24 | $3.0B | $-1.1B | ||
| Q2 24 | $2.9B | $-980.2M | ||
| Q1 24 | $2.9B | $-893.9M |
| Q4 25 | $24.9B | $2.9B | ||
| Q3 25 | $25.0B | $2.6B | ||
| Q2 25 | $20.0B | $2.6B | ||
| Q1 25 | $19.9B | $2.7B | ||
| Q4 24 | $19.4B | $1.7B | ||
| Q3 24 | $19.4B | $1.8B | ||
| Q2 24 | $19.4B | $1.9B | ||
| Q1 24 | $19.3B | $1.8B |
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 | $-34.3M |
| Free Cash FlowOCF − Capex | $75.5M | $-36.6M |
| FCF MarginFCF / Revenue | 35.5% | -22.3% |
| Capex IntensityCapex / Revenue | 1.6% | 1.4% |
| Cash ConversionOCF / Net Profit | 1.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | $239.0M | $702.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.9M | $-34.3M | ||
| Q3 25 | $52.2M | $-66.3M | ||
| Q2 25 | $106.7M | $-58.3M | ||
| Q1 25 | $13.3M | $870.1M | ||
| Q4 24 | $42.9M | $-30.0M | ||
| Q3 24 | $70.2M | $-77.0M | ||
| Q2 24 | $65.6M | $-71.5M | ||
| Q1 24 | $51.1M | $70.8M |
| Q4 25 | $75.5M | $-36.6M | ||
| Q3 25 | $49.7M | $-69.7M | ||
| Q2 25 | $102.5M | $-59.6M | ||
| Q1 25 | $11.3M | $868.4M | ||
| Q4 24 | $36.5M | $-33.8M | ||
| Q3 24 | $64.4M | $-77.5M | ||
| Q2 24 | $61.9M | $-78.8M | ||
| Q1 24 | $46.7M | $61.2M |
| Q4 25 | 35.5% | -22.3% | ||
| Q3 25 | 24.4% | -33.1% | ||
| Q2 25 | 69.5% | -33.3% | ||
| Q1 25 | 7.8% | 73.8% | ||
| Q4 24 | 25.2% | -15.8% | ||
| Q3 24 | 45.4% | -39.4% | ||
| Q2 24 | 44.9% | -42.2% | ||
| Q1 24 | 34.0% | 29.1% |
| Q4 25 | 1.6% | 1.4% | ||
| Q3 25 | 1.2% | 1.6% | ||
| Q2 25 | 2.9% | 0.7% | ||
| Q1 25 | 1.4% | 0.1% | ||
| Q4 24 | 4.4% | 1.8% | ||
| Q3 24 | 4.1% | 0.3% | ||
| Q2 24 | 2.7% | 4.0% | ||
| Q1 24 | 3.2% | 4.6% |
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.52× | -4.17× | ||
| Q2 25 | 2.09× | — | ||
| Q1 25 | 0.30× | 1.00× | ||
| 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.
