32.54 USD
-0.22 (-0.67%)
32.54 USD
0 (0%)
IBCP gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 383 industry peers in the Banks industry. While IBCP is still in line with the averages on profitability rating, there are concerns on its financial health. IBCP has a correct valuation and a medium growth rate. IBCP also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
- In the past year IBCP was profitable.
- IBCP had a positive operating cash flow in the past year.
- IBCP had positive earnings in each of the past 5 years.
- In the past 5 years IBCP always reported a positive cash flow from operatings.
1.2 Ratios
- IBCP's Return On Assets of 1.25% is fine compared to the rest of the industry. IBCP outperforms 79.90% of its industry peers.
- IBCP has a better Return On Equity (13.94%) than 91.12% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.25% | ||
| ROE | 13.94% | ||
| ROIC | N/A |
ROA(3y)1.21%
ROA(5y)1.26%
ROE(3y)15.84%
ROE(5y)15.55%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
- IBCP has a Profit Margin of 29.84%. This is in the better half of the industry: IBCP outperforms 78.85% of its industry peers.
- IBCP's Profit Margin has improved in the last couple of years.
- The Operating Margin and Gross Margin are not available for IBCP so they could not be analyzed.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 29.84% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-0.57%
PM growth 5Y1.95%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
- IBCP does not have a ROIC to compare to the WACC, probably because it is not profitable.
- Compared to 1 year ago, IBCP has more shares outstanding
- The number of shares outstanding for IBCP has been reduced compared to 5 years ago.
- The debt/assets ratio for IBCP has been reduced compared to a year ago.
2.2 Solvency
- The Debt to FCF ratio of IBCP is 0.52, which is an excellent value as it means it would take IBCP, only 0.52 years of fcf income to pay off all of its debts.
- IBCP has a better Debt to FCF ratio (0.52) than 79.63% of its industry peers.
- IBCP has a Debt/Equity ratio of 0.08. This is a healthy value indicating a solid balance between debt and equity.
- IBCP has a better Debt to Equity ratio (0.08) than 72.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.08 | ||
| Debt/FCF | 0.52 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC17.86%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
- IBCP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 10.88%, which is quite good.
- The Earnings Per Share has been growing by 9.47% on average over the past years. This is quite good.
- IBCP shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.10%.
- IBCP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.50% yearly.
EPS 1Y (TTM)10.88%
EPS 3Y3.26%
EPS 5Y9.47%
EPS Q2Q%29.23%
Revenue 1Y (TTM)8.1%
Revenue growth 3Y2.6%
Revenue growth 5Y5.5%
Sales Q2Q%8.38%
3.2 Future
- Based on estimates for the next years, IBCP will show a small growth in Earnings Per Share. The EPS will grow by 5.10% on average per year.
- Based on estimates for the next years, IBCP will show a small growth in Revenue. The Revenue will grow by 6.59% on average per year.
EPS Next Y4.03%
EPS Next 2Y4.75%
EPS Next 3Y5.1%
EPS Next 5YN/A
Revenue Next Year9.04%
Revenue Next 2Y7.08%
Revenue Next 3Y6.59%
Revenue Next 5YN/A
3.3 Evolution
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
- IBCP is valuated reasonably with a Price/Earnings ratio of 9.98.
- Compared to the rest of the industry, the Price/Earnings ratio of IBCP indicates a rather cheap valuation: IBCP is cheaper than 81.20% of the companies listed in the same industry.
- The average S&P500 Price/Earnings ratio is at 27.30. IBCP is valued rather cheaply when compared to this.
- The Price/Forward Earnings ratio is 9.39, which indicates a very decent valuation of IBCP.
- IBCP's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. IBCP is cheaper than 68.15% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of IBCP to the average of the S&P500 Index (24.04), we can say IBCP is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.98 | ||
| Fwd PE | 9.39 |
4.2 Price Multiples
- 74.67% of the companies in the same industry are more expensive than IBCP, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.84 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates IBCP does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)2.48
PEG (5Y)1.05
EPS Next 2Y4.75%
EPS Next 3Y5.1%
5. Dividend
5.1 Amount
- IBCP has a Yearly Dividend Yield of 3.10%. Purely for dividend investing, there may be better candidates out there.
- IBCP's Dividend Yield is a higher than the industry average which is at 2.90.
- IBCP's Dividend Yield is rather good when compared to the S&P500 average which is at 1.92.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.1% |
5.2 History
- The dividend of IBCP has a limited annual growth rate of 5.93%.
- IBCP has paid a dividend for at least 10 years, which is a reliable track record.
- IBCP has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)5.93%
Div Incr Years10
Div Non Decr Years10
5.3 Sustainability
- 31.03% of the earnings are spent on dividend by IBCP. This is a low number and sustainable payout ratio.
- The dividend of IBCP is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP31.03%
EPS Next 2Y4.75%
EPS Next 3Y5.1%
32.54
-0.22 (-0.67%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-28 2025-10-28/bmo
Earnings (Next)01-22 2026-01-22/bmo
Inst Owners86.88%
Inst Owner Change-0.28%
Ins Owners2.18%
Ins Owner Change-0.11%
Market Cap673.25M
Revenue(TTM)229.32M
Net Income(TTM)68.43M
Analysts50
Price Target36.31 (11.59%)
Short Float %1.79%
Short Ratio2.59
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.1% |
Yearly Dividend0.96
Dividend Growth(5Y)5.93%
DP31.03%
Div Incr Years10
Div Non Decr Years10
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.89%
Min EPS beat(2)-1.94%
Max EPS beat(2)0.17%
EPS beat(4)3
Avg EPS beat(4)3.23%
Min EPS beat(4)-1.94%
Max EPS beat(4)11.06%
EPS beat(8)5
Avg EPS beat(8)3.41%
EPS beat(12)7
Avg EPS beat(12)5.69%
EPS beat(16)10
Avg EPS beat(16)9.96%
Revenue beat(2)0
Avg Revenue beat(2)-2.86%
Min Revenue beat(2)-3.51%
Max Revenue beat(2)-2.21%
Revenue beat(4)0
Avg Revenue beat(4)-2.25%
Min Revenue beat(4)-3.51%
Max Revenue beat(4)-1.31%
Revenue beat(8)0
Avg Revenue beat(8)-2.17%
Revenue beat(12)2
Avg Revenue beat(12)1.63%
Revenue beat(16)6
Avg Revenue beat(16)12.57%
PT rev (1m)1.14%
PT rev (3m)0.56%
EPS NQ rev (1m)0%
EPS NQ rev (3m)2.36%
EPS NY rev (1m)0%
EPS NY rev (3m)0.86%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.25%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.06%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.98 | ||
| Fwd PE | 9.39 | ||
| P/S | 2.94 | ||
| P/FCF | 8.84 | ||
| P/OCF | 7.9 | ||
| P/B | 1.37 | ||
| P/tB | 1.57 | ||
| EV/EBITDA | N/A |
EPS(TTM)3.26
EY10.02%
EPS(NY)3.47
Fwd EY10.66%
FCF(TTM)3.68
FCFY11.31%
OCF(TTM)4.12
OCFY12.66%
SpS11.08
BVpS23.72
TBVpS20.77
PEG (NY)2.48
PEG (5Y)1.05
Graham Number41.71
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.25% | ||
| ROE | 13.94% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 29.84% | ||
| GM | N/A | ||
| FCFM | 33.22% |
ROA(3y)1.21%
ROA(5y)1.26%
ROE(3y)15.84%
ROE(5y)15.55%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-0.57%
PM growth 5Y1.95%
GM growth 3YN/A
GM growth 5YN/A
F-Score9
Asset Turnover0.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.08 | ||
| Debt/FCF | 0.52 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 90.65% | ||
| Cap/Sales | 3.95% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 111.31% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score9
WACC17.86%
ROIC/WACCN/A
Cap/Depr(3y)64.12%
Cap/Depr(5y)57.62%
Cap/Sales(3y)3.06%
Cap/Sales(5y)2.83%
Profit Quality(3y)113.55%
Profit Quality(5y)120.65%
High Growth Momentum
Growth
EPS 1Y (TTM)10.88%
EPS 3Y3.26%
EPS 5Y9.47%
EPS Q2Q%29.23%
EPS Next Y4.03%
EPS Next 2Y4.75%
EPS Next 3Y5.1%
EPS Next 5YN/A
Revenue 1Y (TTM)8.1%
Revenue growth 3Y2.6%
Revenue growth 5Y5.5%
Sales Q2Q%8.38%
Revenue Next Year9.04%
Revenue Next 2Y7.08%
Revenue Next 3Y6.59%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y42.64%
FCF growth 3Y-19.14%
FCF growth 5Y13.27%
OCF growth 1Y43.02%
OCF growth 3Y-16.94%
OCF growth 5Y12.85%
INDEPENDENT BANK CORP - MICH / IBCP FAQ
What is the ChartMill fundamental rating of INDEPENDENT BANK CORP - MICH (IBCP) stock?
ChartMill assigns a fundamental rating of 4 / 10 to IBCP.
What is the valuation status for IBCP stock?
ChartMill assigns a valuation rating of 5 / 10 to INDEPENDENT BANK CORP - MICH (IBCP). This can be considered as Fairly Valued.
How profitable is INDEPENDENT BANK CORP - MICH (IBCP) stock?
INDEPENDENT BANK CORP - MICH (IBCP) has a profitability rating of 4 / 10.
Can you provide the PE and PB ratios for IBCP stock?
The Price/Earnings (PE) ratio for INDEPENDENT BANK CORP - MICH (IBCP) is 9.98 and the Price/Book (PB) ratio is 1.37.
How financially healthy is INDEPENDENT BANK CORP - MICH?
The financial health rating of INDEPENDENT BANK CORP - MICH (IBCP) is 3 / 10.