Independent Bank Group
Financial ratios & Valuation

Forward Multiples (2025 – 2025)

2025
Price/Earnings ratio
14.93
Price/Sales ratio
4.31
Earnings per Share (EPS)
$4.06

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
20.8314.2921.5622.4310.4712.3513.2813.6912.6648.81-5.7712.35
Price/Sales ratio
4.383.245.675.643.644.104.445.244.074.152.884.10
Price/Book Value ratio
1.110.881.711.280.831.011.061.191.040.871.270.83
Price/Cash Flow ratio
14.8611.9714.3820.738.4613.7417.3211.0911.4412.7541.248.46
Price/Free Cash Flow ratio
16.8917.0515.5725.0311.1316.8120.0714.9316.1114.6154.3811.13
Price/Earnings Growth ratio
4.630.710.727.200.226.002.821.16-1.29-0.62-1.036.00
Dividend Yield
0.63%1.04%0.54%0.59%1.18%1.81%1.69%1.84%2.55%2.97%2.51%1.18%
Profitability Indicator Ratios
Gross Profit Margin
100%100%100%100%100%100%100%100%100%100%90.02%100%
Operating Profit Margin
47.29%49.24%55.63%56.70%65.43%42.41%41.98%48.06%58.67%N/A14.10%42.41%
Pretax Profit Margin
31.85%33.88%39.40%40.04%43.43%42.41%41.98%48.06%40.36%10.30%-47.62%42.41%
Net Profit Margin
21.03%22.73%26.32%25.17%34.81%33.19%33.47%38.27%32.17%8.50%-49.71%33.19%
Effective Tax Rate
33.98%32.89%33.18%37.12%19.83%21.73%20.27%20.36%20.30%17.42%-4.91%21.73%
Return on Assets
0.70%0.76%0.91%0.88%1.30%1.28%1.13%1.19%1.07%0.22%-2.32%1.28%
Return On Equity
5.35%6.18%7.96%5.72%7.98%8.23%7.99%8.72%8.22%1.79%-19.97%8.23%
Return on Capital Employed
1.57%1.66%3.07%9.51%4.47%1.64%1.42%1.50%3.35%N/A0.80%1.64%
Liquidity Ratios
Current Ratio
0.150.080.100.060.010.04N/AN/AN/AN/A0.460.01
Quick Ratio
N/AN/A2.381.031.8467.62457.25271.670.30N/A0.4667.62
Cash ratio
N/AN/A0.220.060.0223.30279.76153.620.08N/A0.390.02
Days of Sales Outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Days of Inventory outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Operating Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Days of Payables Outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Cash Conversion Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Debt Ratios
Debt Ratio
0.070.070.100.080.040.030.00N/A0.030.030.020.03
Debt Equity Ratio
0.590.600.870.520.280.240.00N/A0.260.280.260.24
Long-term Debt to Capitalization
0.370.370.460.340.220.19N/AN/A0.200.210.200.19
Total Debt to Capitalization
0.370.370.460.340.220.190.00N/A0.200.210.200.19
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/A2.65N/AN/AN/A0.23N/A
Cash Flow to Debt Ratio
0.120.120.130.110.340.2923.73N/A0.340.240.110.29
Company Equity Multiplier
7.648.058.706.506.136.397.057.277.657.929.536.13
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.290.270.390.270.430.290.250.470.350.320.060.29
Free Cash Flow / Operating Cash Flow Ratio
0.870.700.920.820.750.810.860.740.710.870.760.75
Cash Flow Coverage Ratio
0.120.120.130.110.340.2923.73N/A0.340.240.110.29
Short Term Coverage Ratio
N/AN/AN/AN/AN/A7.0723.73N/AN/A4.89N/A7.07
Dividend Payout Ratio
13.28%15.00%11.74%13.37%12.40%22.46%22.49%25.29%32.34%145.15%-14.55%22.46%