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Side-by-side financial comparison of INDEPENDENT BANK CORP (INDB) and LiveRamp Holdings, Inc. (RAMP). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($212.5M vs $212.2M, roughly 1.0× LiveRamp Holdings, Inc.). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs 18.8%, a 16.7% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs 8.6%). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs 11.1%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
LiveRamp Holdings, Inc., is an American SaaS company that offers a data connectivity platform whose services include data onboarding, the transfer of offline data online for marketing purposes.
INDB vs RAMP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $212.5M | $212.2M |
| Net Profit | $75.3M | $39.9M |
| Gross Margin | — | 71.9% |
| Operating Margin | — | 18.6% |
| Net Margin | 35.5% | 18.8% |
| Revenue YoY | 46.9% | 8.6% |
| Net Profit YoY | 50.6% | 255.7% |
| EPS (diluted) | $1.51 | $0.62 |
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 | $212.2M | ||
| Q3 25 | $203.3M | $199.8M | ||
| Q2 25 | $147.5M | $194.8M | ||
| Q1 25 | $145.5M | $188.7M | ||
| Q4 24 | $144.7M | $195.4M | ||
| Q3 24 | $141.7M | $185.5M | ||
| Q2 24 | $137.9M | $176.0M | ||
| Q1 24 | $137.4M | $171.9M |
| Q4 25 | $75.3M | $39.9M | ||
| Q3 25 | $34.3M | $27.4M | ||
| Q2 25 | $51.1M | $7.7M | ||
| Q1 25 | $44.4M | $-6.3M | ||
| Q4 24 | $50.0M | $11.2M | ||
| Q3 24 | $42.9M | $1.7M | ||
| Q2 24 | $51.3M | $-7.5M | ||
| Q1 24 | $47.8M | $-5.4M |
| Q4 25 | — | 71.9% | ||
| Q3 25 | — | 70.2% | ||
| Q2 25 | — | 70.1% | ||
| Q1 25 | — | 69.3% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | — | 72.4% | ||
| Q2 24 | — | 70.6% | ||
| Q1 24 | — | 72.2% |
| Q4 25 | — | 18.6% | ||
| Q3 25 | 21.8% | 10.7% | ||
| Q2 25 | 44.6% | 3.7% | ||
| Q1 25 | 39.3% | -6.1% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | 39.0% | 4.0% | ||
| Q2 24 | 48.1% | -3.0% | ||
| Q1 24 | 45.5% | -8.3% |
| Q4 25 | 35.5% | 18.8% | ||
| Q3 25 | 16.8% | 13.7% | ||
| Q2 25 | 34.6% | 4.0% | ||
| Q1 25 | 30.5% | -3.3% | ||
| Q4 24 | 34.6% | 5.7% | ||
| Q3 24 | 30.3% | 0.9% | ||
| Q2 24 | 37.2% | -4.3% | ||
| Q1 24 | 34.8% | -3.1% |
| Q4 25 | $1.51 | $0.62 | ||
| Q3 25 | $0.69 | $0.42 | ||
| Q2 25 | $1.20 | $0.12 | ||
| Q1 25 | $1.04 | $-0.10 | ||
| Q4 24 | $1.18 | $0.17 | ||
| Q3 24 | $1.01 | $0.03 | ||
| Q2 24 | $1.21 | $-0.11 | ||
| Q1 24 | $1.12 | $-0.09 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $403.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.6B | $962.3M |
| Total Assets | $24.9B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $403.4M | ||
| Q3 25 | — | $376.9M | ||
| Q2 25 | — | $371.1M | ||
| Q1 25 | — | $420.8M | ||
| Q4 24 | — | $384.3M | ||
| Q3 24 | — | $348.4M | ||
| Q2 24 | — | $342.7M | ||
| Q1 24 | — | $368.9M |
| Q4 25 | $3.6B | $962.3M | ||
| Q3 25 | $3.5B | $943.8M | ||
| Q2 25 | $3.1B | $947.8M | ||
| Q1 25 | $3.0B | $948.9M | ||
| Q4 24 | $3.0B | $957.7M | ||
| Q3 24 | $3.0B | $932.1M | ||
| Q2 24 | $2.9B | $951.9M | ||
| Q1 24 | $2.9B | $949.1M |
| Q4 25 | $24.9B | $1.3B | ||
| Q3 25 | $25.0B | $1.2B | ||
| Q2 25 | $20.0B | $1.2B | ||
| Q1 25 | $19.9B | $1.3B | ||
| Q4 24 | $19.4B | $1.3B | ||
| Q3 24 | $19.4B | $1.2B | ||
| Q2 24 | $19.4B | $1.2B | ||
| Q1 24 | $19.3B | $1.2B |
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% | 0.1% |
| 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 | $57.4M | ||
| Q2 25 | $106.7M | $-15.8M | ||
| Q1 25 | $13.3M | — | ||
| Q4 24 | $42.9M | $45.1M | ||
| Q3 24 | $70.2M | $55.6M | ||
| Q2 24 | $65.6M | $-9.3M | ||
| Q1 24 | $51.1M | — |
| Q4 25 | $75.5M | — | ||
| Q3 25 | $49.7M | $56.8M | ||
| Q2 25 | $102.5M | $-16.2M | ||
| Q1 25 | $11.3M | — | ||
| Q4 24 | $36.5M | $44.8M | ||
| Q3 24 | $64.4M | $55.4M | ||
| Q2 24 | $61.9M | $-9.6M | ||
| Q1 24 | $46.7M | — |
| Q4 25 | 35.5% | — | ||
| Q3 25 | 24.4% | 28.4% | ||
| Q2 25 | 69.5% | -8.3% | ||
| Q1 25 | 7.8% | — | ||
| Q4 24 | 25.2% | 22.9% | ||
| Q3 24 | 45.4% | 29.8% | ||
| Q2 24 | 44.9% | -5.4% | ||
| Q1 24 | 34.0% | — |
| Q4 25 | 1.6% | 0.1% | ||
| Q3 25 | 1.2% | 0.3% | ||
| Q2 25 | 2.9% | 0.2% | ||
| Q1 25 | 1.4% | 0.2% | ||
| Q4 24 | 4.4% | 0.1% | ||
| Q3 24 | 4.1% | 0.1% | ||
| Q2 24 | 2.7% | 0.1% | ||
| Q1 24 | 3.2% | 1.0% |
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.52× | 2.09× | ||
| Q2 25 | 2.09× | -2.04× | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.86× | 4.02× | ||
| Q3 24 | 1.64× | 32.10× | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 1.07× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
