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Side-by-side financial comparison of INDEPENDENT BANK CORP (INDB) and STRATASYS LTD. (SSYS). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($212.5M vs $137.0M, roughly 1.6× STRATASYS LTD.). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs -40.6%, a 76.1% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs -2.2%). INDEPENDENT BANK CORP produced more free cash flow last quarter ($75.5M vs $2.5M). 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.
Stratasys, Ltd. is an American-Israeli manufacturer of 3D printers, software, and materials for polymer additive manufacturing as well as 3D-printed parts on-demand. The company is incorporated in Israel. Engineers use Stratasys systems to model complex geometries in a wide range of polymer materials, including: ABS, polyphenylsulfone (PPSF), polycarbonate (PC), polyetherimide and Nylon 12.
INDB vs SSYS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $212.5M | $137.0M |
| Net Profit | $75.3M | $-55.6M |
| Gross Margin | — | 41.0% |
| Operating Margin | — | -16.6% |
| Net Margin | 35.5% | -40.6% |
| Revenue YoY | 46.9% | -2.2% |
| Net Profit YoY | 50.6% | -109.0% |
| 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 | — | ||
| Q3 25 | $203.3M | $137.0M | ||
| Q2 25 | $147.5M | $138.1M | ||
| Q1 25 | $145.5M | $136.0M | ||
| Q4 24 | $144.7M | — | ||
| Q3 24 | $141.7M | $140.0M | ||
| Q2 24 | $137.9M | $138.0M | ||
| Q1 24 | $137.4M | $144.1M |
| Q4 25 | $75.3M | — | ||
| Q3 25 | $34.3M | $-55.6M | ||
| Q2 25 | $51.1M | $-16.7M | ||
| Q1 25 | $44.4M | $-13.1M | ||
| Q4 24 | $50.0M | — | ||
| Q3 24 | $42.9M | $-26.6M | ||
| Q2 24 | $51.3M | $-25.7M | ||
| Q1 24 | $47.8M | $-26.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | 41.0% | ||
| Q2 25 | — | 43.1% | ||
| Q1 25 | — | 44.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 44.8% | ||
| Q2 24 | — | 43.8% | ||
| Q1 24 | — | 44.4% |
| Q4 25 | — | — | ||
| Q3 25 | 21.8% | -16.6% | ||
| Q2 25 | 44.6% | -12.0% | ||
| Q1 25 | 39.3% | -9.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | 39.0% | -18.2% | ||
| Q2 24 | 48.1% | -18.9% | ||
| Q1 24 | 45.5% | -17.0% |
| Q4 25 | 35.5% | — | ||
| Q3 25 | 16.8% | -40.6% | ||
| Q2 25 | 34.6% | -12.1% | ||
| Q1 25 | 30.5% | -9.6% | ||
| Q4 24 | 34.6% | — | ||
| Q3 24 | 30.3% | -19.0% | ||
| Q2 24 | 37.2% | -18.6% | ||
| Q1 24 | 34.8% | -18.0% |
| Q4 25 | $1.51 | — | ||
| Q3 25 | $0.69 | — | ||
| Q2 25 | $1.20 | — | ||
| Q1 25 | $1.04 | — | ||
| Q4 24 | $1.18 | — | ||
| Q3 24 | $1.01 | — | ||
| 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 | — | $71.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.6B | $852.5M |
| Total Assets | $24.9B | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | $71.5M | ||
| Q2 25 | — | $71.1M | ||
| Q1 25 | — | $70.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $64.0M | ||
| Q2 24 | — | $70.9M | ||
| Q1 24 | — | $91.1M |
| Q4 25 | $3.6B | — | ||
| Q3 25 | $3.5B | $852.5M | ||
| Q2 25 | $3.1B | $902.4M | ||
| Q1 25 | $3.0B | $784.8M | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.0B | $831.8M | ||
| Q2 24 | $2.9B | $850.5M | ||
| Q1 24 | $2.9B | $866.1M |
| Q4 25 | $24.9B | — | ||
| Q3 25 | $25.0B | $1.1B | ||
| Q2 25 | $20.0B | $1.1B | ||
| Q1 25 | $19.9B | $1.0B | ||
| Q4 24 | $19.4B | — | ||
| Q3 24 | $19.4B | $1.1B | ||
| Q2 24 | $19.4B | $1.1B | ||
| Q1 24 | $19.3B | $1.1B |
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 | $6.9M |
| Free Cash FlowOCF − Capex | $75.5M | $2.5M |
| FCF MarginFCF / Revenue | 35.5% | 1.8% |
| Capex IntensityCapex / Revenue | 1.6% | 3.2% |
| Cash ConversionOCF / Net Profit | 1.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | $239.0M | $-11.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.9M | — | ||
| Q3 25 | $52.2M | $6.9M | ||
| Q2 25 | $106.7M | $-1.1M | ||
| Q1 25 | $13.3M | $4.5M | ||
| Q4 24 | $42.9M | — | ||
| Q3 24 | $70.2M | $-4.5M | ||
| Q2 24 | $65.6M | $-2.4M | ||
| Q1 24 | $51.1M | $7.3M |
| Q4 25 | $75.5M | — | ||
| Q3 25 | $49.7M | $2.5M | ||
| Q2 25 | $102.5M | $-8.4M | ||
| Q1 25 | $11.3M | $789.0K | ||
| Q4 24 | $36.5M | — | ||
| Q3 24 | $64.4M | $-6.3M | ||
| Q2 24 | $61.9M | $-4.9M | ||
| Q1 24 | $46.7M | $5.0M |
| Q4 25 | 35.5% | — | ||
| Q3 25 | 24.4% | 1.8% | ||
| Q2 25 | 69.5% | -6.1% | ||
| Q1 25 | 7.8% | 0.6% | ||
| Q4 24 | 25.2% | — | ||
| Q3 24 | 45.4% | -4.5% | ||
| Q2 24 | 44.9% | -3.6% | ||
| Q1 24 | 34.0% | 3.5% |
| Q4 25 | 1.6% | — | ||
| Q3 25 | 1.2% | 3.2% | ||
| Q2 25 | 2.9% | 5.3% | ||
| Q1 25 | 1.4% | 2.8% | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 4.1% | 1.3% | ||
| Q2 24 | 2.7% | 1.8% | ||
| Q1 24 | 3.2% | 1.6% |
| 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× | — | ||
| Q1 24 | 1.07× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
