INDB Valuation

Independent Bank Corp (Massachusetts)

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70.940

+3.98(5.944%)1D

Overview
Forecast
Valuation
Earnings

INDB Relative Valuation

INDB's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, INDB is overvalued; if below, it's undervalued.

Historical Valuation

Independent Bank Corp (Massachusetts) (INDB) is now in the Undervalued zone, suggesting that its current forward PE ratio of 10.10 is considered Undervalued compared with the five-year average of 13.88. The fair price of Independent Bank Corp (Massachusetts) (INDB) is between 76.99 to 108.91 according to relative valuation methord. Compared to the current price of 69.24 USD , Independent Bank Corp (Massachusetts) is Undervalued By 10.07%.

Relative Value

Fair Zone

76.99-108.91

Current Price：69.24

10.07%

Undervalued

10.06

Trailing

Forward

0.00

EV/EBITDA

Independent Bank Corp (Massachusetts). (INDB) has a current EV/EBITDA of 0.00. The 5-year average EV/EBITDA is 0.00. The thresholds are as follows: Strongly Undervalued below 0.00, Undervalued between 0.00 and 0.00, Fairly Valued between 0.00 and 0.00, Overvalued between 0.00 and 0.00, and Strongly Overvalued above 0.00. The current Forward EV/EBITDA of 0.00 falls within the Strongly Undervalued range.

0.00

EV/EBIT

Independent Bank Corp (Massachusetts). (INDB) has a current EV/EBIT of 0.00. The 5-year average EV/EBIT is 0.00. The thresholds are as follows: Strongly Undervalued below 0.00, Undervalued between 0.00 and 0.00, Fairly Valued between 0.00 and 0.00, Overvalued between 0.00 and 0.00, and Strongly Overvalued above 0.00. The current Forward EV/EBIT of 0.00 falls within the Strongly Undervalued range.

3.38

Independent Bank Corp (Massachusetts). (INDB) has a current PS of 3.38. The 5-year average PS is 4.13. The thresholds are as follows: Strongly Undervalued below 2.41, Undervalued between 2.41 and 3.27, Fairly Valued between 4.99 and 3.27, Overvalued between 4.99 and 5.85, and Strongly Overvalued above 5.85. The current Forward PS of 3.38 falls within the Historic Trend Line -Fairly Valued range.

0.00

P/OCF

Independent Bank Corp (Massachusetts). (INDB) has a current P/OCF of 0.00. The 5-year average P/OCF is 0.00. The thresholds are as follows: Strongly Undervalued below 0.00, Undervalued between 0.00 and 0.00, Fairly Valued between 0.00 and 0.00, Overvalued between 0.00 and 0.00, and Strongly Overvalued above 0.00. The current Forward P/OCF of 0.00 falls within the Strongly Undervalued range.

0.00

P/FCF

Independent Bank Corp (Massachusetts). (INDB) has a current P/FCF of 0.00. The 5-year average P/FCF is 0.00. The thresholds are as follows: Strongly Undervalued below 0.00, Undervalued between 0.00 and 0.00, Fairly Valued between 0.00 and 0.00, Overvalued between 0.00 and 0.00, and Strongly Overvalued above 0.00. The current Forward P/FCF of 0.00 falls within the Strongly Undervalued range.

Independent Bank Corp (Massachusetts) (INDB) has a current Price-to-Book (P/B) ratio of 0.93. Compared to its 3-year average P/B ratio of 0.94 , the current P/B ratio is approximately -0.85% higher. Relative to its 5-year average P/B ratio of 1.13, the current P/B ratio is about -17.30% higher. Independent Bank Corp (Massachusetts) (INDB) has a Forward Free Cash Flow (FCF) yield of approximately 6.45%. Compared to its 3-year average FCF yield of 10.09%, the current FCF yield is approximately -36.12% lower. Relative to its 5-year average FCF yield of 8.12% , the current FCF yield is about -20.58% lower.

0.93

P/B

Median3y

0.94

Median5y

1.13

6.40

FCF Yield

Median3y

10.09

Median5y

8.12

Competitors Valuation Multiple

The average P/S ratio for INDB's competitors is 3.33, providing a benchmark for relative valuation. Independent Bank Corp (Massachusetts) Corp (INDB) exhibits a P/S ratio of 3.38, which is 1.44% above the industry average. Given its robust revenue growth of 6.26%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

INDB.O

Independent Bank Corp (Massachusetts)

Cathay General Bancorp

Eastern Bankshares Inc

First Interstate Bancsystem Inc

Performance Decomposition

Market capitalization of INDB increased by 12.05% over the past 1 year. The primary factor behind the change was an increase in P/E Change from 13.48 to 15.12.

The secondary factor is the Revenue Growth, contributed 6.26%to the performance.

Overall, the performance of INDB in the past 1 year is driven by P/E Change. Which is more unsustainable.

6.26%

159.39M → 169.37M

Revenue Growth

-6.30%

32.20 → 30.17

Margin Expansion

12.09%

13.48 → 15.12

P/E Change

12.05%