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Side-by-side financial comparison of INDEPENDENT BANK CORP (INDB) and UNIVERSAL TECHNICAL INSTITUTE INC (UTI). Click either name above to swap in a different company.
UNIVERSAL TECHNICAL INSTITUTE INC is the larger business by last-quarter revenue ($220.8M vs $212.5M, roughly 1.0× INDEPENDENT BANK CORP). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs 5.8%, a 29.6% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs 9.6%). INDEPENDENT BANK CORP produced more free cash flow last quarter ($75.5M vs $-19.2M). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs 9.5%).
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
Universal Technical Institute, Inc. (UTI) is a private for-profit system of technical colleges in the United States. It was established in 1965 by Robert Sweet.
INDB vs UTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $212.5M | $220.8M |
| Net Profit | $75.3M | $12.8M |
| Gross Margin | — | — |
| Operating Margin | — | 7.1% |
| Net Margin | 35.5% | 5.8% |
| Revenue YoY | 46.9% | 9.6% |
| Net Profit YoY | 50.6% | -42.1% |
| EPS (diluted) | $1.51 | $0.23 |
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 | $220.8M | ||
| Q3 25 | $203.3M | $222.4M | ||
| Q2 25 | $147.5M | $204.3M | ||
| Q1 25 | $145.5M | $207.4M | ||
| Q4 24 | $144.7M | $201.4M | ||
| Q3 24 | $141.7M | $196.4M | ||
| Q2 24 | $137.9M | $177.5M | ||
| Q1 24 | $137.4M | $184.2M |
| Q4 25 | $75.3M | $12.8M | ||
| Q3 25 | $34.3M | $18.8M | ||
| Q2 25 | $51.1M | $10.7M | ||
| Q1 25 | $44.4M | $11.4M | ||
| Q4 24 | $50.0M | $22.2M | ||
| Q3 24 | $42.9M | $18.8M | ||
| Q2 24 | $51.3M | $5.0M | ||
| Q1 24 | $47.8M | $7.8M |
| Q4 25 | — | 7.1% | ||
| Q3 25 | 21.8% | 11.2% | ||
| Q2 25 | 44.6% | 6.9% | ||
| Q1 25 | 39.3% | 8.1% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | 39.0% | 13.3% | ||
| Q2 24 | 48.1% | 4.2% | ||
| Q1 24 | 45.5% | 6.1% |
| Q4 25 | 35.5% | 5.8% | ||
| Q3 25 | 16.8% | 8.4% | ||
| Q2 25 | 34.6% | 5.2% | ||
| Q1 25 | 30.5% | 5.5% | ||
| Q4 24 | 34.6% | 11.0% | ||
| Q3 24 | 30.3% | 9.6% | ||
| Q2 24 | 37.2% | 2.8% | ||
| Q1 24 | 34.8% | 4.2% |
| Q4 25 | $1.51 | $0.23 | ||
| Q3 25 | $0.69 | $0.33 | ||
| Q2 25 | $1.20 | $0.19 | ||
| Q1 25 | $1.04 | $0.21 | ||
| Q4 24 | $1.18 | $0.40 | ||
| Q3 24 | $1.01 | $0.35 | ||
| Q2 24 | $1.21 | $0.09 | ||
| Q1 24 | $1.12 | $0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $162.8M |
| Total DebtLower is stronger | — | $101.4M |
| Stockholders' EquityBook value | $3.6B | $335.9M |
| Total Assets | $24.9B | $834.0M |
| Debt / EquityLower = less leverage | — | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $162.8M | ||
| Q3 25 | — | $169.1M | ||
| Q2 25 | — | $70.7M | ||
| Q1 25 | — | $96.0M | ||
| Q4 24 | — | $172.0M | ||
| Q3 24 | — | $161.9M | ||
| Q2 24 | — | $115.5M | ||
| Q1 24 | — | $116.1M |
| Q4 25 | — | $101.4M | ||
| Q3 25 | — | $87.1M | ||
| Q2 25 | — | $73.8M | ||
| Q1 25 | — | $94.4M | ||
| Q4 24 | — | $120.1M | ||
| Q3 24 | — | $125.7M | ||
| Q2 24 | — | $137.3M | ||
| Q1 24 | — | $141.9M |
| Q4 25 | $3.6B | $335.9M | ||
| Q3 25 | $3.5B | $328.1M | ||
| Q2 25 | $3.1B | $306.8M | ||
| Q1 25 | $3.0B | $293.9M | ||
| Q4 24 | $3.0B | $280.0M | ||
| Q3 24 | $3.0B | $260.2M | ||
| Q2 24 | $2.9B | $239.4M | ||
| Q1 24 | $2.9B | $232.6M |
| Q4 25 | $24.9B | $834.0M | ||
| Q3 25 | $25.0B | $826.1M | ||
| Q2 25 | $20.0B | $740.8M | ||
| Q1 25 | $19.9B | $720.4M | ||
| Q4 24 | $19.4B | $753.8M | ||
| Q3 24 | $19.4B | $744.6M | ||
| Q2 24 | $19.4B | $706.0M | ||
| Q1 24 | $19.3B | $702.1M |
| Q4 25 | — | 0.30× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.61× |
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 | $3.1M |
| Free Cash FlowOCF − Capex | $75.5M | $-19.2M |
| FCF MarginFCF / Revenue | 35.5% | -8.7% |
| Capex IntensityCapex / Revenue | 1.6% | 10.1% |
| Cash ConversionOCF / Net Profit | 1.05× | 0.24× |
| TTM Free Cash FlowTrailing 4 quarters | $239.0M | $16.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.9M | $3.1M | ||
| Q3 25 | $52.2M | $57.1M | ||
| Q2 25 | $106.7M | $18.1M | ||
| Q1 25 | $13.3M | $-789.0K | ||
| Q4 24 | $42.9M | $23.0M | ||
| Q3 24 | $70.2M | $67.5M | ||
| Q2 24 | $65.6M | $10.0M | ||
| Q1 24 | $51.1M | $-2.5M |
| Q4 25 | $75.5M | $-19.2M | ||
| Q3 25 | $49.7M | $40.6M | ||
| Q2 25 | $102.5M | $6.8M | ||
| Q1 25 | $11.3M | $-11.7M | ||
| Q4 24 | $36.5M | $19.6M | ||
| Q3 24 | $64.4M | $60.0M | ||
| Q2 24 | $61.9M | $3.0M | ||
| Q1 24 | $46.7M | $-8.4M |
| Q4 25 | 35.5% | -8.7% | ||
| Q3 25 | 24.4% | 18.3% | ||
| Q2 25 | 69.5% | 3.4% | ||
| Q1 25 | 7.8% | -5.7% | ||
| Q4 24 | 25.2% | 9.7% | ||
| Q3 24 | 45.4% | 30.6% | ||
| Q2 24 | 44.9% | 1.7% | ||
| Q1 24 | 34.0% | -4.6% |
| Q4 25 | 1.6% | 10.1% | ||
| Q3 25 | 1.2% | 7.4% | ||
| Q2 25 | 2.9% | 5.5% | ||
| Q1 25 | 1.4% | 5.3% | ||
| Q4 24 | 4.4% | 1.7% | ||
| Q3 24 | 4.1% | 3.8% | ||
| Q2 24 | 2.7% | 4.0% | ||
| Q1 24 | 3.2% | 3.2% |
| Q4 25 | 1.05× | 0.24× | ||
| Q3 25 | 1.52× | 3.04× | ||
| Q2 25 | 2.09× | 1.69× | ||
| Q1 25 | 0.30× | -0.07× | ||
| Q4 24 | 0.86× | 1.04× | ||
| Q3 24 | 1.64× | 3.58× | ||
| Q2 24 | 1.28× | 2.01× | ||
| Q1 24 | 1.07× | -0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INDB
Segment breakdown not available.
UTI
| UTI | $142.8M | 65% |
| Concorde | $78.0M | 35% |
