Independent BankIBCP -0.56%64 Net Margin % is 29.63% as of Mar. 2026, which is 2% above its 10-year median of 28.91. GuruFocus rates IBCP with a GF Score™ of 64/100 and a GF Value™ of $32.34 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,526 Banks companies, Independent Bank ranks better than 65.47% on this metric.
The historical rank and industry rank for Independent Bank's Net Margin % or its related term are showing as below:
IBCP'
s Net Margin % Range Over the Past 10 Years
Min: 15.88 Med: 28.91 Max: 31.64
Current: 31.31
IBCP's Net Margin % is ranked better than 65.47% of 1526
companies
in the Banks industry
Industry Median: 26.97
vs IBCP: 31.31
Independent Bank (NAS:IBCP) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Independent Bank Net Margin % Related Terms
Independent Bank Net Margin % Historical Data
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The historical data trend for Independent Bank's Net Margin % 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 Net Margin %, along with its competitors' market caps and Net Margin % 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 Net Margin % vs Banks Industry
For the Banks industry and Financial Services sector, Independent Bank's Net Margin % distribution charts can be found below:
* The bar in red indicates where Independent Bank's Net Margin % falls into.
* 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 (IBCP) has a Net Margin % of 29.63% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Independent Bank and its competitors. This is near median its historical median of 28.91. Over the past decade, Independent Bank's Net Margin % has ranged from 15.88 to 31.64. According to the industry distribution chart, Independent Bank ranks #527 out of 1526 companies in the Banks industry, placing it in the top 34.5%.
Is Independent Bank's Net Margin % too high?
Independent Bank's current Net Margin % of 29.63% is near median its 10-year median of 28.91. Over the past 10 years, this metric has ranged from a low of 15.88 to a high of 31.64. The Banks industry median Net Margin % is 26.97. Independent Bank's value of 29.63% is 9.9% above this industry median. Based on the distribution chart, Independent Bank ranks #527 out of 1526 companies in the Banks industry, which is above the industry midpoint. Overall, Independent Bank has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Independent Bank's Net Margin % compare to SMBK and FISI?
According to the Banks industry distribution chart, Independent Bank ranks #527 out of 1526 companies for Net Margin %. This puts Independent Bank in the upper half of its industry. The industry median Net Margin % is 26.97. Independent Bank's value of 29.63% is 9.9% above this benchmark. Historically, Independent Bank's own Net Margin % has ranged from 15.88 to 31.64 over the past decade. While the company's 10-year median is 28.91 vs. the industry median of 26.97, 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 Net Margin % for a Banks company?
The median Net Margin % among Banks companies is 26.97, based on 1,526 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Independent Bank's current Net Margin % of 29.63% is 9.9% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Independent Bank and its competitors. For the Banks industry, the median Net Margin % is 26.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Independent Bank's current Net Margin % is 29.63%, which is near median its own 10-year median of 28.91. 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 (IBCP) is currently considered Fairly Valued. The stock's GF Value™ is $32.34, compared to a current price of $35.39 — trading 9.4% above its estimated fair value. The current Net Margin % is 29.63%, which is near median its 10-year median of 28.91 and 9.9% above the Banks industry median of 26.97. Independent Bank's overall GF Score™ is 64/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Independent Bank (IBCP), the current Net Margin % is 29.63% as of Mar. 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 (IBCP) Overvalued in 2026?
Based on GuruFocus' analysis, Independent Bank stock appears to be overvalued.
The current stock price of $35.39 is trading 9.4% above its estimated GF Value™ of $32.34.
GuruFocus considers Independent Bank to be Fairly Valued.
Key valuation signals for IBCP:
Net Margin %: 29.63% (near median its 10-year median of 28.91)
GF Value™: $32.34 vs. price of $35.39 (9.4% above fair value)
Industry Position: 9.9% above the Banks median (#527 of 1526)
No single metric tells the full story. See the IBCP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Independent Bank Corp. operates as a commercial bank. It offers a broad range of banking services to individuals and businesses, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services. It also provides internet and mobile banking capabilities to its customers. The firm's principal markets are the rural and suburban communities across Lower Michigan. The firm generates the majority of its revenue from Interest and fees on loans.
64GF Score
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