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Side-by-side financial comparison of INDEPENDENT BANK CORP (INDB) and STONERIDGE INC (SRI). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($212.5M vs $205.2M, roughly 1.0× STONERIDGE INC). On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs -6.0%). INDEPENDENT BANK CORP produced more free cash flow last quarter ($75.5M vs $2.6M). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs -7.4%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
Stoneridge Inc is a global designer and manufacturer of advanced electrical and electronic components, integrated systems, and sensor solutions. It serves automotive, commercial vehicle, off-highway, and aerospace sectors, delivering products that boost vehicle safety, efficiency, connectivity, and environmental performance across key global markets.
INDB vs SRI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $212.5M | $205.2M |
| Net Profit | $75.3M | — |
| Gross Margin | — | 16.2% |
| Operating Margin | — | -14.4% |
| Net Margin | 35.5% | — |
| Revenue YoY | 46.9% | -6.0% |
| Net Profit YoY | 50.6% | — |
| EPS (diluted) | $1.51 | $-2.76 |
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 | $205.2M | ||
| Q3 25 | $203.3M | $210.3M | ||
| Q2 25 | $147.5M | $228.0M | ||
| Q1 25 | $145.5M | $217.9M | ||
| Q4 24 | $144.7M | $218.2M | ||
| Q3 24 | $141.7M | $213.8M | ||
| Q2 24 | $137.9M | $237.1M | ||
| Q1 24 | $137.4M | $239.2M |
| Q4 25 | $75.3M | — | ||
| Q3 25 | $34.3M | $-9.4M | ||
| Q2 25 | $51.1M | $-9.4M | ||
| Q1 25 | $44.4M | $-7.2M | ||
| Q4 24 | $50.0M | — | ||
| Q3 24 | $42.9M | $-7.1M | ||
| Q2 24 | $51.3M | $2.8M | ||
| Q1 24 | $47.8M | $-6.1M |
| Q4 25 | — | 16.2% | ||
| Q3 25 | — | 20.3% | ||
| Q2 25 | — | 21.5% | ||
| Q1 25 | — | 21.2% | ||
| Q4 24 | — | 19.5% | ||
| Q3 24 | — | 20.8% | ||
| Q2 24 | — | 22.7% | ||
| Q1 24 | — | 20.2% |
| Q4 25 | — | -14.4% | ||
| Q3 25 | 21.8% | -1.6% | ||
| Q2 25 | 44.6% | -1.1% | ||
| Q1 25 | 39.3% | -1.5% | ||
| Q4 24 | — | -2.0% | ||
| Q3 24 | 39.0% | 0.1% | ||
| Q2 24 | 48.1% | 1.4% | ||
| Q1 24 | 45.5% | 0.1% |
| Q4 25 | 35.5% | — | ||
| Q3 25 | 16.8% | -4.5% | ||
| Q2 25 | 34.6% | -4.1% | ||
| Q1 25 | 30.5% | -3.3% | ||
| Q4 24 | 34.6% | — | ||
| Q3 24 | 30.3% | -3.3% | ||
| Q2 24 | 37.2% | 1.2% | ||
| Q1 24 | 34.8% | -2.6% |
| Q4 25 | $1.51 | $-2.76 | ||
| Q3 25 | $0.69 | $-0.34 | ||
| Q2 25 | $1.20 | $-0.34 | ||
| Q1 25 | $1.04 | $-0.26 | ||
| Q4 24 | $1.18 | $-0.22 | ||
| Q3 24 | $1.01 | $-0.26 | ||
| Q2 24 | $1.21 | $0.10 | ||
| Q1 24 | $1.12 | $-0.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $66.3M |
| Total DebtLower is stronger | — | $180.9M |
| Stockholders' EquityBook value | $3.6B | $179.8M |
| Total Assets | $24.9B | $551.2M |
| Debt / EquityLower = less leverage | — | 1.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $66.3M | ||
| Q3 25 | — | $54.0M | ||
| Q2 25 | — | $49.8M | ||
| Q1 25 | — | $79.1M | ||
| Q4 24 | — | $71.8M | ||
| Q3 24 | — | $54.1M | ||
| Q2 24 | — | $42.1M | ||
| Q1 24 | — | $48.4M |
| Q4 25 | — | $180.9M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $201.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.6B | $179.8M | ||
| Q3 25 | $3.5B | $251.2M | ||
| Q2 25 | $3.1B | $260.5M | ||
| Q1 25 | $3.0B | $253.1M | ||
| Q4 24 | $3.0B | $245.3M | ||
| Q3 24 | $3.0B | $271.4M | ||
| Q2 24 | $2.9B | $270.5M | ||
| Q1 24 | $2.9B | $277.3M |
| Q4 25 | $24.9B | $551.2M | ||
| Q3 25 | $25.0B | $632.1M | ||
| Q2 25 | $20.0B | $639.4M | ||
| Q1 25 | $19.9B | $657.4M | ||
| Q4 24 | $19.4B | $621.6M | ||
| Q3 24 | $19.4B | $662.5M | ||
| Q2 24 | $19.4B | $666.7M | ||
| Q1 24 | $19.3B | $675.4M |
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.82× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $8.8M |
| Free Cash FlowOCF − Capex | $75.5M | $2.6M |
| FCF MarginFCF / Revenue | 35.5% | 1.3% |
| Capex IntensityCapex / Revenue | 1.6% | 3.0% |
| Cash ConversionOCF / Net Profit | 1.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | $239.0M | $12.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.9M | $8.8M | ||
| Q3 25 | $52.2M | $3.6M | ||
| Q2 25 | $106.7M | $10.7M | ||
| Q1 25 | $13.3M | $10.9M | ||
| Q4 24 | $42.9M | $19.2M | ||
| Q3 24 | $70.2M | $10.8M | ||
| Q2 24 | $65.6M | $8.7M | ||
| Q1 24 | $51.1M | $9.1M |
| Q4 25 | $75.5M | $2.6M | ||
| Q3 25 | $49.7M | $-2.7M | ||
| Q2 25 | $102.5M | $7.4M | ||
| Q1 25 | $11.3M | $4.8M | ||
| Q4 24 | $36.5M | $14.0M | ||
| Q3 24 | $64.4M | $4.6M | ||
| Q2 24 | $61.9M | $1.5M | ||
| Q1 24 | $46.7M | $3.3M |
| Q4 25 | 35.5% | 1.3% | ||
| Q3 25 | 24.4% | -1.3% | ||
| Q2 25 | 69.5% | 3.3% | ||
| Q1 25 | 7.8% | 2.2% | ||
| Q4 24 | 25.2% | 6.4% | ||
| Q3 24 | 45.4% | 2.2% | ||
| Q2 24 | 44.9% | 0.6% | ||
| Q1 24 | 34.0% | 1.4% |
| Q4 25 | 1.6% | 3.0% | ||
| Q3 25 | 1.2% | 3.0% | ||
| Q2 25 | 2.9% | 1.4% | ||
| Q1 25 | 1.4% | 2.8% | ||
| Q4 24 | 4.4% | 2.4% | ||
| Q3 24 | 4.1% | 2.9% | ||
| Q2 24 | 2.7% | 3.0% | ||
| Q1 24 | 3.2% | 2.4% |
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.52× | — | ||
| Q2 25 | 2.09× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.86× | — | ||
| Q3 24 | 1.64× | — | ||
| Q2 24 | 1.28× | 3.11× | ||
| 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.
SRI
| Control Devices | $51.7M | 25% |
| Electronics | $38.0M | 19% |
| EE | $34.2M | 17% |
| SE | $28.6M | 14% |
| NL | $24.5M | 12% |
| Stoneridge Brazil | $14.1M | 7% |
| Asia Pacific | $13.1M | 6% |
