Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Independent BankINDB -0.24%64 EV-to-OCF is 10.32 as of Aug. 09, 2026, which is 20% below its 10-year median of 12.87. GuruFocus rates INDB with a GF Score™ of 64/100 and a GF Value™ of $75.60 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,498 Banks companies, Independent Bank ranks worse than 71.03% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Independent Bank's Enterprise Value is $3,663.6 Mil.
Independent Bank's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was $355.0 Mil. Therefore, Independent Bank's EV-to-OCF for today is 10.32.
The historical rank and industry rank for Independent Bank's EV-to-OCF or its related term are showing as below:
INDB'
s EV-to-OCF Range Over the Past 10 Years
Min: 1.03 Med: 12.87 Max: 50.18
Current: 10.32
During the past 13 years, the highest EV-to-OCF of Independent Bank was 50.18. The lowest was 1.03. And the median was 12.87.
INDB's EV-to-OCF is ranked worse than 71.03% of 1498
companies
in the Banks industry
Industry Median: 4.04
vs INDB: 10.32
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Independent Bank's PE Ratio (TTM) for today is calculated as:
Independent Bank's share price for today is $83.67.
Independent Bank's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $5.540.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Independent Bank EV-to-OCF Related Terms
Independent Bank EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Independent Bank's EV-to-OCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Banks - Regional subindustry, Independent Bank's EV-to-OCF, along with its competitors' market caps and EV-to-OCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Independent Bank EV-to-OCF vs Banks Industry
For the Banks industry and Financial Services sector, Independent Bank's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Independent Bank's EV-to-OCF falls into.
Independent Bank's current Enterprise Value is $3,663.6 Mil.
Independent Bank's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $355.0 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Independent Bank (INDB) has a EV-to-OCF of 10.32 as of Aug. 09, 2026. This is 20% below median its historical median of 12.87. Over the past decade, Independent Bank's EV-to-OCF has ranged from 1.03 to 50.18. According to the industry distribution chart, Independent Bank ranks #1064 out of 1498 companies in the Banks industry, placing it in the top 71%.
Is Independent Bank's EV-to-OCF too high?
Independent Bank's current EV-to-OCF of 10.32 is 20% below median its 10-year median of 12.87. Over the past 10 years, this metric has ranged from a low of 1.03 to a high of 50.18. The Banks industry median EV-to-OCF is 4.04. Independent Bank's value of 10.32 is 155.4% above this industry median. Based on the distribution chart, Independent Bank ranks #1064 out of 1498 companies in the Banks industry, which is below the industry midpoint. Overall, Independent Bank has a GF Score™ of 64/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Independent Bank's EV-to-OCF compare to RNST and WSFS?
According to the Banks industry distribution chart, Independent Bank ranks #1064 out of 1498 companies for EV-to-OCF. This places Independent Bank in the lower half of its industry. The industry median EV-to-OCF is 4.04. Independent Bank's value of 10.32 is 155.4% above this benchmark. Historically, Independent Bank's own EV-to-OCF has ranged from 1.03 to 50.18 over the past decade. While the company's 10-year median is 12.87 vs. the industry median of 4.04, Independent Bank has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Banks company?
The median EV-to-OCF among Banks companies is 4.04, based on 1,498 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Independent Bank's current EV-to-OCF of 10.32 is 155.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Banks industry, the median EV-to-OCF is 4.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Independent Bank's current EV-to-OCF is 10.32, which is 20% below median its own 10-year median of 12.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Independent Bank stock overvalued right now?
Based on GuruFocus' analysis, Independent Bank (INDB) is currently considered Modestly Overvalued. The stock's GF Value™ is $75.60, compared to a current price of $83.67 — trading 10.7% above its estimated fair value. The current EV-to-OCF is 10.32, which is 20% below median its 10-year median of 12.87 and 155.4% above the Banks industry median of 4.04. Independent Bank's overall GF Score™ is 64/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Independent Bank (INDB), the current EV-to-OCF is 10.32 as of Aug. 09, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Independent Bank (INDB) Overvalued in 2026?
Based on GuruFocus' analysis, Independent Bank stock appears to be overvalued.
The current stock price of $83.67 is trading 10.7% above its estimated GF Value™ of $75.60.
GuruFocus considers Independent Bank to be Modestly Overvalued.
Key valuation signals for INDB:
EV-to-OCF: 10.32 (20% below median its 10-year median of 12.87)
GF Value™: $75.60 vs. price of $83.67 (10.7% above fair value)
Industry Position: 155.4% above the Banks median (#1064 of 1498)
No single metric tells the full story. See the INDB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Independent Bank Corp is a bank holding company and the sole shareholder of its bank, the Rockland Trust Company. Rockland is a community-oriented commercial bank. The bank provides a variety of banking, investment and financial services, operating with various retail branches, as well as a network of commercial and residential lending centers and investment management offices majorly in Eastern Massachusetts, Worcester County, and Rhode Island. The bank's loan portfolio constitutes the bulk of the bank's total assets. Its borrowers consist mostly of small to medium-size businesses and consumers, majority of which are made to its market area in eastern Massachusetts and Rhode Island. The bank's loan portfolio is predominantly in commercial loans.
64GF Score
Get the complete analysis for INDB
EV-to-OCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
INDB has been successfully added to your 
