Demonstrações financeiras detalhadas de Independent Bank Corporation (IBCP): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Independent Bank Corporation registou receitas de $315.4M no último exercício, com um CAGR de 5 anos de 8.0%. O lucro líquido atingiu $68.5M, com CAGR de 5 anos de 4.1%.
Margens dos últimos 12 meses: margem bruta 71.3%, margem operacional 26.7%, margem líquida 22.7%. O fluxo de caixa livre cresceu a CAGR de 5.3% em 5 anos.
Ao preço atual de $36.47, IBCP negocia a um P/L de 10.58 e um ROE de 14.12%. A capitalização de mercado é de $752M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $124.2M | $138.1M | $170.9M | $190.8M | $214.2M | $207.1M | $224.2M | $283.8M | $316.3M | $315.4M |
| Custo da Receita | $5.6M | $10.3M | $19.0M | $27.4M | $28.9M | $7.6M | $25.4M | $90.0M | $104.7M | $95.9M |
| Lucro Bruto | $118.6M | $127.7M | $151.9M | $163.3M | $185.3M | $199.5M | $198.8M | $193.8M | $211.7M | $219.5M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $63.6M | $68.2M | $76.4M | $82.5M | $81.8M | $83.3M | $86.1M | $85.1M | $91.8M | $97.2M |
| Despesas Operacionais | $85.7M | $89.3M | $102.7M | $105.6M | $115.8M | $122.2M | $121.0M | $120.2M | $128.6M | $138.2M |
| Lucro Operacional | $32.9M | $38.4M | $49.1M | $57.8M | $69.5M | $77.3M | $77.8M | $73.7M | $83.0M | $81.3M |
| EBITDA | $38.1M | $45.4M | $55.2M | $63.8M | $78.6M | $89.4M | $88.6M | $83.7M | $93.1M | $91.2M |
| Despesas com Juros | $6.9M | $9.1M | $17.5M | $26.3M | $16.2M | $8.3M | $19.4M | $83.3M | $100.5M | $89.7M |
| Lucro Antes de Impostos | $32.9M | $38.4M | $49.1M | $57.8M | $69.5M | $77.3M | $77.8M | $73.7M | $83.0M | $81.3M |
| Imposto | $10.1M | $18.0M | $9.3M | $11.3M | $13.3M | $14.4M | $14.4M | $14.6M | $16.3M | $12.8M |
| Lucro Líquido | $22.8M | $20.5M | $39.8M | $46.4M | $56.2M | $62.9M | $63.4M | $59.1M | $66.8M | $68.5M |
| LPA | $1.06 | $0.96 | $1.70 | $2.03 | $2.56 | $2.91 | $3.00 | $2.82 | $3.20 | $3.30 |
| LPA Diluído | $1.05 | $0.95 | $1.68 | $2.00 | $2.53 | $2.88 | $2.97 | $2.79 | $3.16 | $3.27 |
| Ações em Circulação (Diluídas) | $21.7M | $21.6M | $23.7M | $23.2M | $22.2M | $21.8M | $21.3M | $21.2M | $21.1M | $20.9M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $79.4M | $79.4M | $74.6M | $82.6M |
| Lucro Bruto | $53.5M | $56.4M | $54.9M | $60.5M |
| Lucro Operacional | $21.2M | $20.3M | $20.2M | $22.7M |
| EBITDA | $23.9M | $22.7M | $22.6M | $25.1M |
| Lucro Líquido | $17.5M | $18.6M | $16.9M | $18.8M |
| LPA | $0.85 | $0.90 | $0.82 | $0.91 |
| LPA Diluído | $0.84 | $0.89 | $0.81 | $0.90 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $88.8M | $57.5M | $70.8M | $65.7M | $118.7M | $109.5M | $74.4M | $169.8M | $119.9M | $138.4M |
| Investimentos de Curto Prazo | $610.6M | $522.9M | $427.9M | $518.4M | $1.07B | $1.41B | $779.3M | $679.4M | $25.4M | $23.2M |
| Contas a Receber | $33.4M | $29.6M | $34.9M | $44.8M | $62.5M | $66.1M | $128.9M | 0 | 0 | 0 |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $732.8M | $610.0M | $533.6M | $628.9M | $1.25B | $1.59B | $982.6M | $849.1M | $145.3M | $161.6M |
| Imobilizado | $40.2M | $39.1M | $38.8M | $38.4M | $36.1M | $36.4M | $35.9M | $35.5M | $37.5M | $39.0M |
| Ágio | 0 | 0 | $28.3M | $28.3M | $28.3M | $28.3M | $28.3M | $28.3M | $28.3M | $28.3M |
| Ativos Intangíveis | $15.6M | $17.3M | $27.8M | $24.5M | $21.2M | $29.6M | $45.0M | $44.2M | $48.3M | $32.5M |
| Ativos Totais | $2.55B | $2.79B | $3.35B | $3.56B | $4.20B | $4.70B | $5.00B | $5.26B | $5.34B | $5.51B |
| Contas a Pagar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dívida de Curto Prazo | $1.2M | $26.7M | $10.0M | $53.6M | 0 | 0 | $61.0M | 0 | 0 | 0 |
| Passivos Circulantes | $2.26B | $2.46B | $2.96B | $3.14B | $3.71B | $4.20B | $4.55B | $4.62B | $4.65B | $4.76B |
| Dívida de Longo Prazo | $43.8M | $63.5M | $55.1M | $74.5M | $108.8M | $109.0M | $165.1M | $129.3M | $124.4M | $116.9M |
| Passivos Totais | $2.30B | $2.52B | $3.01B | $3.21B | $3.81B | $4.31B | $4.65B | $4.86B | $4.88B | $5.00B |
| Reservas | -$65.7M | -$54.1M | -$28.3M | $1.6M | $40.1M | $74.6M | $119.4M | $159.1M | $205.9M | $252.8M |
| Patrimônio Líquido | $249.0M | $264.9M | $339.0M | $350.2M | $389.5M | $398.5M | $347.6M | $404.4M | $454.7M | $503.0M |
| Dívida Total | $45.0M | $90.2M | $65.1M | $128.1M | $108.8M | $109.0M | $226.1M | $129.3M | $124.4M | $116.9M |
| Dívida Líquida | -$654.4M | -$490.2M | -$433.7M | -$456.0M | -$1.08B | -$1.41B | -$627.6M | -$719.9M | -$20.9M | -$44.7M |
| Capital de Giro | -$1.52B | -$1.85B | -$2.43B | -$2.51B | -$2.45B | -$2.61B | -$3.57B | -$3.77B | -$4.51B | -$4.60B |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $208.7M | $138.4M | $48.5M | $64.1M |
| Ativos Totais | $5.49B | $5.51B | $5.56B | $5.66B |
| Passivos Totais | $5.00B | $5.00B | $5.05B | $5.14B |
| Patrimônio Líquido | $490.7M | $503.0M | $510.6M | $528.4M |
| Dívida Total | $41.9M | $116.9M | $74.1M | $166.9M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $22.8M | $20.5M | $39.8M | $46.4M | $56.2M | $62.9M | $63.4M | $59.1M | $66.8M | $68.5M |
| Depreciação e Amortização | $5.2M | $7.0M | $6.0M | $6.1M | $6.3M | $12.1M | $10.8M | $10.0M | $10.0M | $9.9M |
| Compensação em Ações | $1.6M | $1.7M | $1.7M | $1.9M | $2.0M | $1.9M | $2.1M | $2.2M | $2.3M | $2.7M |
| Variação Capital de Giro | -$6.6M | $1.7M | -$4.7M | $6.0M | $2.3M | $5.5M | -$11.2M | -$18.2M | -$24.2M | -$7.8M |
| Fluxo de Caixa Operacional | $23.7M | $38.6M | $44.9M | $34.5M | $58.7M | $110.2M | $94.6M | $75.6M | $63.2M | $76.7M |
| CapEx | -$3.5M | -$4.2M | -$3.9M | -$4.9M | -$4.4M | -$5.8M | -$5.7M | -$6.0M | -$8.0M | -$6.5M |
| Aquisições | 0 | $33.4M | $23.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Ações | -$16.9M | 0 | -$12.7M | -$26.3M | -$14.2M | -$17.3M | -$4.0M | -$5.2M | 0 | -$12.4M |
| Dividendos Pagos | -$7.3M | -$9.0M | -$14.1M | -$16.6M | -$17.6M | -$18.2M | -$18.6M | -$19.3M | -$20.0M | -$21.6M |
| Fluxo de Caixa Livre | $20.2M | $34.4M | $41.1M | $29.6M | $54.3M | $104.3M | $89.0M | $69.6M | $55.2M | $70.2M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $18.2M | $7.8M | -$9.2M | $21.0M |
| CapEx | -$1.7M | -$1.4M | -$4.6M | $4.6M |
| Fluxo de Caixa Livre | $16.5M | $6.4M | -$13.8M | $25.6M |
| Dividendos Pagos | -$5.4M | -$5.4M | -$5.8M | -$5.8M |
| Compensação em Ações | $571000 | $748000 | $688000 | $1.4M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +11.2% | +23.8% | +11.6% | +12.3% | -3.3% | +8.3% | +26.6% | +11.5% | -0.3% |
| Crescimento Lucro Líquido (anual) | | -10.1% | +94.6% | +16.6% | +20.9% | +12.0% | +0.7% | -6.8% | +13.1% | +2.6% |
| Crescimento LPA (anual) | | -9.4% | +77.1% | +19.4% | +26.1% | +13.7% | +3.1% | -6.0% | +13.5% | +3.1% |
| Variação de Ações (anual) | | -0.6% | +10.0% | -2.1% | -4.4% | -1.6% | -2.3% | -0.7% | -0.2% | -1.2% |
| Crescimento FCF (anual) | | +69.7% | +19.5% | -28.0% | +83.7% | +92.1% | -14.7% | -21.8% | -20.6% | +27.1% |
| Margem Bruta | 95.5% | 92.5% | 88.9% | 85.6% | 86.5% | 96.3% | 88.7% | 68.3% | 66.9% | 69.6% |
| Margem Operacional | 26.5% | 27.8% | 28.8% | 30.3% | 32.4% | 37.3% | 34.7% | 26.0% | 26.3% | 25.8% |
| Margem EBITDA | 30.7% | 32.9% | 32.3% | 33.5% | 36.7% | 43.2% | 39.5% | 29.5% | 29.4% | 28.9% |
| Margem Líquida | 18.3% | 14.8% | 23.3% | 24.3% | 26.2% | 30.4% | 28.3% | 20.8% | 21.1% | 21.7% |
| Margem FCF | 16.3% | 24.9% | 24.0% | 15.5% | 25.4% | 50.4% | 39.7% | 24.5% | 17.5% | 22.2% |
| Taxa Efetiva de Imposto | 30.8% | 46.7% | 18.9% | 19.6% | 19.2% | 18.6% | 18.6% | 19.8% | 19.6% | 15.7% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.93 | $1.59 | $1.73 | $1.27 | $2.45 | $4.78 | $4.17 | $3.29 | $2.61 | $3.36 |
| Dividendo por Ação | $0.34 | $0.42 | $0.59 | $0.71 | $0.79 | $0.83 | $0.87 | $0.91 | $0.95 | $1.03 |
| Ações em Circulação (Básicas) | $21.5M | $21.3M | $23.4M | $22.9M | $21.9M | $21.6M | $21.1M | $20.9M | $20.9M | $20.7M |
O que olhar em empresas de Financial Services
- Efficiency Ratio (≤55%) — Despesas operacionais / receita. Bancos top abaixo de 55%.
- ROA (≥1%) — Quanto ganham por cada euro de ativos. ROE engana em bancos pela alavancagem.
- ROTCE (≥12%) — Rentabilidade sobre Capital Tangível. Exclui goodwill e intangíveis.
- Capital / Ativos (proxy Tier 1) (≥8%) — Proxy do rácio de capital. FMP não expõe Tier 1 regulatório direto.
- P/B (1,0-1,5x) — Métrica clássica bancária. <1x pode ser oportunidade ou distress.
- Dividend yield sustentável (≥2%, <8%) — Bancos UE pagam 5-7% sem stress. >8% é sinal de distress.
Rentabilidade
| Retorno sobre patrimônio | 14.12% |
| Retorno sobre capital investido | -1.70% |
| Retorno sobre ativos | 1.27% |
| Margem bruta | 71.30% |
| Margem operacional | 26.72% |
| Margem líquida | 22.71% |
Saúde financeira
| Dívida / Patrimônio | 0.32 |
| Liquidez corrente | 0.11 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 20.47 | 23.28 | 12.36 | 11.16 | 7.21 | 8.20 | 7.97 | 9.23 | 10.88 | 9.86 |
| P/VP | 1.87 | 1.80 | 1.45 | 1.48 | 1.04 | 1.29 | 1.45 | 1.35 | 1.60 | 1.34 |
| P/V | 3.75 | 3.45 | 2.88 | 2.72 | 1.89 | 2.49 | 2.25 | 1.92 | 2.30 | 2.13 |
| Margem Bruta | 95.5% | 92.5% | 88.9% | 85.6% | 86.5% | 96.3% | 88.7% | 68.3% | 66.9% | 69.6% |
| Margem Operacional | 26.5% | 27.8% | 28.8% | 30.3% | 32.4% | 37.3% | 34.7% | 26.0% | 26.3% | 25.8% |
| Margem Líquida | 18.3% | 14.8% | 23.3% | 24.3% | 26.2% | 30.4% | 28.3% | 20.8% | 21.1% | 21.7% |