INDB (Independent Bank) Cash-to-Debt : 0.64 (As of Sep. 2024)

View and export this data going back to 1986. Start your Free Trial

What is Independent Bank Cash-to-Debt?

Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Independent Bank's cash to debt ratio for the quarter that ended in Sep. 2024 was 0.64.

If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, Independent Bank couldn't pay off its debt using the cash in hand for the quarter that ended in Sep. 2024.

The historical rank and industry rank for Independent Bank's Cash-to-Debt or its related term are showing as below:

INDB' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.18 Med: 1.36 Max: 14.71
Current: 0.64

During the past 13 years, Independent Bank's highest Cash to Debt Ratio was 14.71. The lowest was 0.18. And the median was 1.36.

INDB's Cash-to-Debt is ranked worse than
69.42% of 1491 companies
in the Banks industry
Industry Median: 1.31 vs INDB: 0.64

Independent Bank Cash-to-Debt Historical Data

The historical data trend for Independent Bank's Cash-to-Debt 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.

Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

* Premium members only.

Independent Bank Cash-to-Debt Chart

Independent Bank Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cash-to-Debt

Get a 7-Day Free Trial

0.50

7.16

14.71

3.11

0.18

Independent Bank Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Cash-to-Debt	Get a 7-Day Free Trial															0.22	0.18	0.22	0.45	0.64

Competitive Comparison of Independent Bank's Cash-to-Debt

For the Banks - Regional subindustry, Independent Bank's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt 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's Cash-to-Debt Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Independent Bank's Cash-to-Debt distribution charts can be found below:

* The bar in red indicates where Independent Bank's Cash-to-Debt falls into.

Independent Bank Cash-to-Debt Calculation

This is the ratio of a company's Balance Sheet Cash And Cash Equivalents to its debt. The debt includes the Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation. This ratio measures the financial strength of a company. This ratio is updated quarterly.

Independent Bank's Cash to Debt Ratio for the fiscal year that ended in Dec. 2023 is calculated as:

Cash to Debt Ratio	=	Balance Sheet Cash And Cash Equivalents	/	Total Debt
	=	Balance Sheet Cash And Cash Equivalents	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	224.33	/	(0	+	1218.379)
	=	0.18

Independent Bank's Cash to Debt Ratio for the quarter that ended in Sep. 2024 is calculated as:

Cash to Debt Ratio	=	Balance Sheet Cash And Cash Equivalents	/	Total Debt
	=	Balance Sheet Cash And Cash Equivalents	/	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)
	=	424.452	/	(0	+	663.38)
	=	0.64

Independent Bank (NAS:INDB) Cash-to-Debt Explanation

If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.

Independent Bank Cash-to-Debt Related Terms

Thank you for viewing the detailed overview of Independent Bank's Cash-to-Debt provided by GuruFocus.com. Please click on the following links to see related term pages.

Independent Bank Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Independent Bank Corp (NAS:INDB) » Definitions » Cash-to-Debt

Comparable Companies

Traded in Other Exchanges

N/A

Address

2036 Washington Street, Hanover, MA, USA, 02339

Website

https://www.rocklandtrust.com

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.

Executives

Eileen C Miskell	director	C/O INDEPENDENT BANK CORP, 288 UNION STREET, ROCKLAND MA 02370
Donna L Abelli	director	INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
John J Morrissey	director	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Jeffrey J Tengel	director, officer: Chief Executive Officer	1900 EAST NINTH STREET, CLEVELAND OH 44114
Lee C Powlus	officer: Chief Tech & Operations Off.	850 MAIN STREET, BRIDGEPORT CT 06604
Patricia M Natale	officer: General Counsel
Barry H Jensen	officer: Chief Information Officer	INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Mark J Ruggiero	officer: Principal Accounting Officer	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Scott Smith	director	320 NORWOOD PARK SOUTH, NORWOOD MA 02062
Maureen A. Gaffney	officer: Principal Accounting Officer	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Christopher Oddleifson	director, officer: President and CEO
Edward H Seksay	officer: General Counsel	C/O INDEPENDENT BANK CORP, 288 UNION STREET, ROCKLAND MA 02370
Dawn Mugford	officer: Chief Risk Officer	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Robert D Cozzone	officer: CFO and Treasurer	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370
Gerard F Nadeau	officer: Executive Vice President	C/O INDEPENDENT BANK CORP., 288 UNION STREET, ROCKLAND MA 02370