Basis: FMP quote price / unrounded diluted EPS from four consecutive issuer fiscal quarters. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the P/E ratio high or low?
The P/E ratio of 10.48 is 17% above its 5-year average of 8.95, around the middle of its 5-year range (5.28–13.26).
As of 2026-10-06T15:42:15.190Z. 0.19% above its 12-month average of 10.46.
Calculation as of: 2026-10-06T15:42:15.190Z.
Quote observation: 2026-10-06T15:40:30.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: 160c3e541b1446bdb77b317c5c0af24eb4bc5d5ec8c5f36b602459c4e917bec5
PE Ratio (10.48) = Close Price ($36.06) / Diluted TTM EPS ($3.44)
PE RATIO
10.48
PE RATIO AVG TTM
10.46
PE RATIO AVG 3Y
10.13
PE RATIO AVG 5Y
8.95
PE RATIO AVG 10Y
11.15
PE RATIO AVG 15Y
11.84
PE RATIO AVG 20Y
12.59
CURRENT VS TTM AVG
+0.19%
CURRENT VS 3Y AVG
+3.43%
CURRENT VS 5Y AVG
+17.07%
CURRENT VS 10Y AVG
-6.04%
CURRENT VS 15Y AVG
-11.48%
CURRENT VS 20Y AVG
-16.77%
SECTOR MEDIAN · FINANCIAL SERVICES
13.58
median of 438 covered companies
CURRENT VS SECTOR MEDIAN
-22.83%
vs the sector median at left
Independent Bank Corporation
Market Cap
$743.03M
PE Ratio
10.48
TTM Avg
10.46
3Y Avg
10.13
5Y Avg
8.95
Market Cap
$739.80M
PE Ratio
20.88
TTM Avg
13.66
3Y Avg
11.47
5Y Avg
9.77
Market Cap
$732.02M
PE Ratio
13.33
TTM Avg
12.90
3Y Avg
11.28
5Y Avg
10.97
Market Cap
$729.47M
PE Ratio
9.20
TTM Avg
8.52
3Y Avg
8.19
5Y Avg
7.69
Market Cap
$727.53M
PE Ratio
N/A
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$725.42M
PE Ratio
N/A
TTM Avg
61.33
3Y Avg
39.29
5Y Avg
39.29
Market Cap
$780.16M
PE Ratio
9.81
TTM Avg
9.60
3Y Avg
7.92
5Y Avg
7.04
| NAME | MARKET CAP | PE RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Independent Bank Corporation (IBCP) | $743.03M | 10.48 | 10.46 | 10.13 | 8.95 |
| PRA Group, Inc. (PRAA)vs › | $744.40M | N/A | 11.66 | 44.03 | 27.34 |
| Carlyle Secured Lending, Inc. (CGBD)vs › | $739.80M | 20.88 | 13.66 | 11.47 | 9.77 |
| OFS Credit Company, Inc. (OCCIM)vs › | $732.99M | N/A | N/A | N/A | N/A |
| Washington Trust Bancorp, Inc. (WASH)vs › | $732.02M | 13.33 | 12.90 | 11.28 | 10.97 |
| Fidus Investment Corporation (FDUS)vs › | $729.47M | 9.20 | 8.52 | 8.19 | 7.69 |
| WisdomTree Artificial Intelligence and Innovation Fund (WTAI)vs › | $727.53M | N/A | N/A | N/A | N/A |
| New Mountain Finance Corporation 8.250% Notes due 2028 (NMFCZ)vs › | $725.42M | N/A | 61.33 | 39.29 | 39.29 |
| Financial Institutions, Inc. (FISI)vs › | $780.16M | 9.81 | 9.60 | 7.92 | 7.04 |
| MidCap Financial Investment Corporation (MFIC)vs › | $703.05M | N/A | 71.93 | 30.24 | 23.04 |
At 10.5, P/E is near its 20-year median — higher than 43% of readings in its 20-year history.
20-year low
2.3
median
11.7
20-year high
68.5
Trailing P/E
10.5
Forward P/E
10.1
Forward P/E is calculated using analyst consensus EPS estimates for the current or next fiscal year.
Calculation:
Current Price
$36.06
Forward EPS (Est.)
$3.56
Forward P/E
10.12
Source: FMP Analyst Consensus Estimates. Forward EPS represents the average analyst estimate for the nearest fiscal year.
PE Ratio = Share Price / Diluted EPS (TTM)
The price-to-earnings ratio measures how much investors pay for each dollar of trailing earnings. A lower PE can indicate a cheaper valuation; a higher PE implies higher growth expectations.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | PE RATIO |
|---|---|
| 2026-10-05 | 10.44 |
| 2026-10-02 | 10.57 |
| 2026-10-01 | 10.34 |
| 2026-09-30 | 10.24 |
| 2026-09-29 | 10.28 |
| 2026-09-28 | 10.35 |
| 2026-09-25 | 10.42 |
| 2026-09-24 | 10.35 |
| 2026-09-23 | 10.26 |
| 2026-09-22 | 10.35 |
| 2026-09-21 | 10.43 |
| 2026-09-18 | 10.53 |
| 2026-09-17 | 10.53 |
| 2026-09-16 | 10.60 |
| 2026-09-15 | 10.86 |
| 2026-09-14 | 10.81 |
| 2026-09-11 | 10.78 |
| 2026-09-10 | 10.80 |
| 2026-09-09 | 10.69 |
| 2026-09-08 | 10.75 |
| 2026-09-04 | 10.86 |
| 2026-09-03 | 10.76 |
| 2026-09-02 | 10.68 |
| 2026-09-01 | 10.50 |
| 2026-08-31 | 10.61 |
| 2026-08-28 | 10.72 |
| 2026-08-27 | 10.65 |
| 2026-08-26 | 10.67 |
| 2026-08-25 | 10.67 |
| 2026-08-24 | 10.74 |
| 2026-08-21 | 10.79 |
| 2026-08-20 | 10.83 |
| 2026-08-19 | 10.74 |
| 2026-08-18 | 11.07 |
| 2026-08-17 | 11.16 |
| 2026-08-14 | 11.14 |
| 2026-08-13 | 11.18 |
| 2026-08-12 | 11.13 |
| 2026-08-11 | 11.05 |
| 2026-08-10 | 11.02 |
| 2026-08-07 | 11.06 |
| 2026-08-06 | 11.19 |
| 2026-08-05 | 11.46 |
| 2026-08-04 | 11.48 |
| 2026-08-03 | 11.49 |
| 2026-07-31 | 11.40 |
| 2026-07-30 | 11.40 |
| 2026-07-29 | 11.54 |
| 2026-07-28 | 11.54 |
| 2026-07-27 | 11.22 |
| 2026-07-24 | 11.24 |
| 2026-07-23 | 10.94 |
| 2026-07-22 | 10.75 |
| 2026-07-21 | 10.90 |
| 2026-07-20 | 10.89 |
| 2026-07-17 | 10.87 |
| 2026-07-16 | 11.27 |
| 2026-07-15 | 10.83 |
| 2026-07-14 | 10.71 |
| 2026-07-13 | 10.81 |
| 2026-07-10 | 10.71 |
| 2026-07-09 | 10.60 |
| 2026-07-08 | 10.49 |
| 2026-07-07 | 10.67 |
| 2026-07-06 | 10.72 |
| 2026-07-02 | 10.76 |
| 2026-07-01 | 10.96 |
| 2026-06-30 | 10.77 |
| 2026-06-29 | 10.76 |
| 2026-06-26 | 10.81 |
| 2026-06-25 | 10.62 |
| 2026-06-24 | 10.62 |
| 2026-06-23 | 10.51 |
| 2026-06-22 | 10.21 |
| 2026-06-18 | 10.24 |
| 2026-06-17 | 10.23 |
| 2026-06-16 | 10.36 |
| 2026-06-15 | 10.33 |
| 2026-06-12 | 10.59 |
| 2026-06-11 | 10.54 |
| 2026-06-10 | 10.54 |
| 2026-06-09 | 10.51 |
| 2026-06-08 | 10.37 |
| 2026-06-05 | 10.32 |
| 2026-06-04 | 10.21 |
| 2026-06-03 | 9.91 |
| 2026-06-02 | 10.23 |
| 2026-06-01 | 10.08 |
| 2026-05-29 | 10.24 |
| 2026-05-28 | 10.19 |
| 2026-05-27 | 10.19 |
| 2026-05-26 | 10.26 |
| 2026-05-22 | 10.12 |
| 2026-05-21 | 10.16 |
| 2026-05-20 | 10.04 |
| 2026-05-19 | 9.90 |
| 2026-05-18 | 10.00 |
| 2026-05-15 | 9.77 |
| 2026-05-14 | 9.94 |
| 2026-05-13 | 9.90 |
| 2026-05-12 | 10.01 |
| 2026-05-11 | 10.05 |
| 2026-05-08 | 10.31 |
| 2026-05-07 | 10.13 |
| 2026-05-06 | 10.31 |
| 2026-05-05 | 10.22 |
| 2026-05-04 | 10.07 |
| 2026-05-01 | 10.25 |
| 2026-04-30 | 10.13 |
| 2026-04-29 | 10.19 |
| 2026-04-28 | 10.42 |
| 2026-04-27 | 10.22 |
| 2026-04-24 | 10.19 |
| 2026-04-23 | 10.15 |
| 2026-04-22 | 10.25 |
| 2026-04-21 | 10.22 |
| 2026-04-20 | 10.48 |
| 2026-04-17 | 10.61 |
| 2026-04-16 | 10.37 |
| 2026-04-15 | 10.48 |
| 2026-04-14 | 10.59 |
| 2026-04-13 | 10.61 |
| 2026-04-10 | 10.57 |
| 2026-04-09 | 10.67 |
| 2026-04-08 | 10.51 |
| 2026-04-07 | 10.32 |
| 2026-04-06 | 10.30 |
| 2026-04-02 | 10.25 |
| 2026-04-01 | 10.24 |
| 2026-03-31 | 10.15 |
| 2026-03-30 | 9.98 |
| 2026-03-27 | 9.88 |
| 2026-03-26 | 9.96 |
| 2026-03-25 | 9.97 |
| 2026-03-24 | 10.00 |
| 2026-03-23 | 10.01 |
| 2026-03-20 | 9.75 |
| 2026-03-19 | 10.01 |
| 2026-03-18 | 9.94 |
| 2026-03-17 | 10.10 |
| 2026-03-16 | 10.22 |
| 2026-03-13 | 10.14 |
| 2026-03-12 | 10.10 |
| 2026-03-11 | 10.08 |
| 2026-03-10 | 10.31 |
| 2026-03-09 | 10.31 |
| 2026-03-06 | 10.50 |
| 2026-03-05 | 10.66 |
| 2026-03-04 | 10.85 |
| 2026-03-03 | 10.83 |
| 2026-03-02 | 10.85 |
| 2026-02-27 | 10.66 |
| 2026-02-26 | 11.02 |
| 2026-02-25 | 11.00 |
| 2026-02-24 | 10.86 |
| 2026-02-23 | 10.89 |
| 2026-02-20 | 11.34 |
| 2026-02-19 | 11.27 |
| 2026-02-18 | 11.14 |
| 2026-02-17 | 11.25 |
| 2026-02-13 | 11.24 |
| 2026-02-12 | 11.02 |
| 2026-02-11 | 11.04 |
| 2026-02-10 | 11.05 |
| 2026-02-09 | 11.11 |
| 2026-02-06 | 11.23 |
| 2026-02-05 | 11.22 |
| 2026-02-04 | 11.27 |
| 2026-02-03 | 11.14 |
| 2026-02-02 | 11.15 |
| 2026-01-30 | 10.78 |
| 2026-01-29 | 10.71 |
| 2026-01-28 | 10.47 |
| 2026-01-27 | 10.72 |
| 2026-01-26 | 10.71 |
| 2026-01-23 | 10.65 |
| 2026-01-22 | 10.86 |
| 2026-01-21 | 10.75 |
| 2026-01-20 | 10.23 |
| 2026-01-16 | 10.39 |
| 2026-01-15 | 10.39 |
| 2026-01-14 | 10.13 |
| 2026-01-13 | 9.98 |
| 2026-01-12 | 10.05 |
| 2026-01-09 | 10.13 |
| 2026-01-08 | 10.28 |
| 2026-01-07 | 10.02 |
| 2026-01-06 | 10.06 |
| 2026-01-05 | 10.07 |
| 2026-01-02 | 9.87 |
| 2025-12-31 | 9.98 |
| 2025-12-30 | 10.05 |
| 2025-12-29 | 10.20 |
| 2025-12-26 | 10.16 |
| 2025-12-24 | 10.29 |
| 2025-12-23 | 10.31 |
| 2025-12-22 | 10.39 |
| 2025-12-19 | 10.47 |
| 2025-12-18 | 10.76 |
| 2025-12-17 | 10.75 |
| 2025-12-16 | 10.83 |
| 2025-12-15 | 10.80 |
| 2025-12-12 | 10.69 |
| 2025-12-11 | 10.71 |
| 2025-12-10 | 10.58 |
| 2025-12-09 | 10.32 |
| 2025-12-08 | 10.30 |
| 2025-12-05 | 10.28 |
| 2025-12-04 | 10.40 |
| 2025-12-03 | 10.43 |
| 2025-12-02 | 10.17 |
| 2025-12-01 | 10.27 |
| 2025-11-28 | 10.02 |
| 2025-11-26 | 10.04 |
| 2025-11-25 | 10.13 |
| 2025-11-24 | 9.65 |
| 2025-11-21 | 9.65 |
| 2025-11-20 | 9.39 |
| 2025-11-19 | 9.31 |
| 2025-11-18 | 9.23 |
| 2025-11-17 | 9.23 |
| 2025-11-14 | 9.53 |
| 2025-11-13 | 9.53 |
| 2025-11-12 | 9.54 |
| 2025-11-11 | 9.54 |
| 2025-11-10 | 9.54 |
| 2025-11-07 | 9.41 |
| 2025-11-06 | 9.36 |
| 2025-11-05 | 10.04 |
| 2025-11-04 | 9.85 |
| 2025-11-03 | 9.93 |
| 2025-10-31 | 9.84 |
| 2025-10-30 | 10.10 |
| 2025-10-29 | 10.03 |
| 2025-10-28 | 10.31 |
| 2025-10-27 | 10.38 |
| 2025-10-24 | 10.51 |
| 2025-10-23 | 10.24 |
| 2025-10-22 | 10.48 |
| 2025-10-21 | 10.47 |
| 2025-10-20 | 10.49 |
| 2025-10-17 | 10.16 |
| 2025-10-16 | 10.04 |
| 2025-10-15 | 10.32 |
| 2025-10-14 | 10.32 |
| 2025-10-13 | 10.01 |
| 2025-10-10 | 9.91 |
| 2025-10-09 | 10.17 |
| 2025-10-08 | 10.15 |
| 2025-10-07 | 10.20 |
| 2025-10-06 | 10.25 |
| 2025-10-03 | 10.06 |
| 2025-10-02 | 9.87 |
| 2025-10-01 | 9.97 |
| 2025-09-30 | 10.09 |
| 2025-09-29 | 10.09 |
| 2025-09-26 | 10.27 |
| 2025-09-25 | 10.21 |
| 2025-09-24 | 10.30 |
| 2025-09-23 | 10.29 |
Showing the most recent 260 of 4,021 data points. The chart above shows the full history.
