Independent Z Score

INDB -  USA Stock  

USD 85.72  5.45  6.79%

Altman Z Score is one of the simplest fundamental models to determine how likely your company is to fail. The module uses available fundamental data of a given equity to approximate the Altman Z score. Altman Z Score is determined by evaluating five fundamental price points available from the company's current public disclosure documents. Please see Independent Piotroski F Score and Independent Valuation analysis.

Independent Z Score 

 
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The current year Return on Invested Capital is expected to grow to 0.0151, whereas Capital Expenditure is forecasted to decline to (7 M). The current year Income Tax Expense is expected to grow to about 33.2 M, whereas Consolidated Income is forecasted to decline to about 109.8 M.

Independent Z Score Analysis

Independent's Z-Score is a simple linear, multi-factor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
 2018 2019 2020 2021 (projected)
Net Income121.62 M165.18 M121.17 M109.83 M
Gross Profit381.89 M502.43 M426.67 M401.23 M
Z Score 
 = 
Sum Of  
 
5 Factors 
More About Z Score | All Equity Analysis

Current Independent Z Score

    
  6.0  
Most of Independent's fundamental indicators, such as Z Score, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Independent Bk Corp is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
First Factor
 = 
1.2 * (
Working Capital
/
Total Assets )
Second Factor
 = 
1.4 * (
Retained Earnings
/
Total Assets )
Thrid Factor
 = 
3.3 * (
EBITAD
/
Total Assets )
Fouth Factor
 = 
0.6 * (
Market Value of Equity
/
Total Liabilities )
Fifth Factor
 = 
0.99 * (
Revenue
/
Total Assets )

Independent Z Score Driver Correlations

Understanding the fundamental principles of building solid financial models for Independent is extremely important. It helps to project a fair market value of Ford stock properly, considering its historical fundamentals such as Z Score. Since Independent's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Independent's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Independent's interrelated accounts and indicators.
To calculate Z-Score one would need to know current working capital of the company, its total assets, and liabilities, amount of latest retained earnings as well as earnings before interest and tax. Z-Score can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with Z-Scores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a so-called 'grey area' with scores of less than 1, indicating the high probability of distress. Z Score is used widely by financial auditors, accountants, money managers, loan processers, wealth advisers, as well as day traders. In the last 25 years, many financial models that utilize z score has been proved to be successful as a predictor of corporate bankruptcy.
Compare to competition

According to the company's disclosures, Independent Bk Corp has a Z Score of 6.0. This is 148.96% higher than that of the Financial Services sector and significantly higher than that of the Banks—Regional industry. The z score for all United States stocks is 31.19% higher than that of the company.

Independent Current Valuation Drivers

We derive many important indicators used in calculating different scores of Independent from analyzing Independent's financial statements. These drivers represent accounts that assess Independent's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Independent's important valuation drivers and their relationship over time.
201620172018201920202021 (projected)
Net Income Per Employee69.3 K78.7 K102.38 K122.53 K87.88 K75.77 K
Revenue Per Employee297.52 K325.08 K346.98 K417.14 K371.94 K327 K
Average Assets7.45 B7.97 B8.42 B10.88 B12.85 B11.06 B
Earnings Before Interest Taxes and Depreciation Amortization EBITDA126.43 M150.31 M171.56 M237.55 M180.1 M165.5 M
Earnings Before Interest Taxes and Depreciation Amortization USD126.43 M150.31 M171.56 M237.55 M180.1 M165.5 M
Earnings before Tax112.08 M134.54 M155.93 M218.11 M152.84 M142.99 M
Average Equity818.74 M916.77 M1 B1.53 B1.69 B1.38 B
Enterprise Value1.8 B2 B1.99 B2.94 B1.44 B1.62 B
Free Cash Flow82.85 M112.14 M132.92 M203.74 M58.15 M83.75 M
Invested Capital7.52 B7.95 B8.59 B11.01 B11.56 B10.42 B
Invested Capital Average7.25 B7.82 B8.22 B10.55 B11.61 B10.33 B
Market Capitalization1.85 B1.92 B1.94 B2.86 B2.41 B2.1 B
Tangible Asset Value7.48 B7.84 B8.58 B10.86 B12.67 B10.96 B

Independent Fundamentals

About Independent Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Independent Bk Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Independent using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Independent Bk Corp based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Independent Bank Corp. operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses primarily in Massachusetts. Its products and services include demand deposits and time certificates of deposit, as well as checking, money market, and savings accounts. The companys loan portfolio includes commercial loans, such as commercial and industrial, asset-based, commercial real estate, commercial construction, and small business loans consumer real estate loans, including residential mortgages and home equity loans, and loans for the construction of residential properties and personal loans. It also provides investment management and trust services to individuals, institutions, small businesses, and charitable institutions Internet and mobile banking services, as well as automated teller machine cards and debit cards and mutual fund shares, unit investment trust shares, general securities, fixed and variable annuities, and life insurance products. As of December 31, 2020, it operates through a network of ninety-six full service and two limited service retail branches, sixteen commercial banking centers, ten investment management offices, and eight mortgage lending centers in Eastern Massachusetts, Greater Boston, the South Shore, and the Cape and Islands, as well as in Worcester County and Rhode Island. The company was founded in 1907 and is headquartered in Rockland, Massachusetts.

Independent Investors Sentiment

The influence of Independent's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Independent. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.

Independent Implied Volatility

    
  57.64  
Independent's implied volatility exposes the market's sentiment of Independent Bk Corp stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Independent's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Independent stock will not fluctuate a lot when Independent's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Independent in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Independent's short interest history, or implied volatility extrapolated from Independent options trading.

Current Sentiment - INDB

Independent Bk Corp Investor Sentiment

Most of Macroaxis users are currently bullish on Independent Bk Corp. What is your judgment towards investing in Independent Bk Corp? Are you bullish or bearish?
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98% Bullish
2% Bearish
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Please see Independent Piotroski F Score and Independent Valuation analysis. Note that the Independent Bk Corp information on this page should be used as a complementary analysis to other Independent's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.

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When running Independent Bk Corp price analysis, check to measure Independent's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Independent is operating at the current time. Most of Independent's value examination focuses on studying past and present price action to predict the probability of Independent's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Independent's price. Additionally, you may evaluate how the addition of Independent to your portfolios can decrease your overall portfolio volatility.
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Is Independent's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Independent. If investors know Independent will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Independent listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Independent Bk Corp is measured differently than its book value, which is the value of Independent that is recorded on the company's balance sheet. Investors also form their own opinion of Independent's value that differs from its market value or its book value, called intrinsic value, which is Independent's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Independent's market value can be influenced by many factors that don't directly affect Independent's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Independent's value and its price as these two are different measures arrived at by different means. Investors typically determine Independent value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Independent's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.