` Comparison: INDB, MTB - Alpha Spread

INDB
vs
MTB

Over the past 12 months, INDB has outperformed MTB, delivering a return of +17% compared to the MTB's +11% growth.

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INDB
MTB
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Stocks Compared:
INDB MTB
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Valuation Comparison

INDB Intrinsic Value
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MTB Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Independent Bank Corp (Massachusetts)
NASDAQ:INDB
77.12 USD
M&T Bank Corp
NYSE:MTB
206.71 USD
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Valuation Scenario:
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Growth Comparison

Growth Over Time
INDB, MTB

INDB
MTB
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
Independent Bank Corp (Massachusetts)
Revenue
M&T Bank Corp
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
INDB, MTB

INDB
MTB
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
Independent Bank Corp (Massachusetts)
NASDAQ:INDB
FCF is not applicable for financial companies
M&T Bank Corp
NYSE:MTB
FCF is not applicable for financial companies
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What is Free Cash Flow?

Gross Margin

INDB
MTB
LTM 3Y Avg 5Y Avg 10Y Avg
Independent Bank Corp (Massachusetts)
Not applicable for financial companies
M&T Bank Corp
Not applicable for financial companies

Operating Margin

INDB
MTB
LTM 3Y Avg 5Y Avg 10Y Avg
Independent Bank Corp (Massachusetts)
Not applicable for financial companies
M&T Bank Corp
Not applicable for financial companies

Net Margin

INDB
23%
MTB
27.3%

FCF Margin

INDB
MTB
LTM 3Y Avg 5Y Avg 10Y Avg
Independent Bank Corp (Massachusetts)
Not applicable for financial companies
M&T Bank Corp
Not applicable for financial companies

ROE

INDB
5.5%
MTB
9.1%

ROA

INDB
0.8%
MTB
1.2%

ROIC

INDB
MTB
LTM 3Y Avg 5Y Avg 10Y Avg
Independent Bank Corp (Massachusetts)
Not applicable for financial companies
M&T Bank Corp
Not applicable for financial companies

ROCE

INDB
MTB
LTM 3Y Avg 5Y Avg 10Y Avg
Independent Bank Corp (Massachusetts)
Not applicable for financial companies
M&T Bank Corp
Not applicable for financial companies

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
INDB, MTB

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INDB
MTB
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Performance Gap
INDB, MTB

Performance Gap Between INDB and MTB
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Performance By Year
INDB, MTB

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INDB
MTB
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