WallStSmart

Independent Bank (INDB)vsItau Unibanco Banco Holding SA (ITUB)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Itau Unibanco Banco Holding SA generates 15049% more annual revenue ($143.71B vs $948.69M). ITUB leads profitability with a 32.6% profit margin vs 28.6%. ITUB appears more attractively valued with a PEG of 1.26. ITUB earns a higher WallStSmart Score of 77/100 (B+).

INDB

Strong Buy

73

out of 100

Grade: B

Growth: 9.3Profit: 7.0Value: 5.0Quality: 4.5
Piotroski: 3/9Altman Z: 0.24

ITUB

Strong Buy

77

out of 100

Grade: B+

Growth: 7.3Profit: 8.0Value: 7.0Quality: 3.3
Piotroski: 3/9

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

INDB6 strengths · Avg: 9.3/10
Price/BookValuation
1.1x10/10

Reasonable price relative to book value

Operating MarginProfitability
47.2%10/10

Strong operational efficiency at 47.2%

Revenue GrowthGrowth
41.5%10/10

Revenue surging 41.5% year-over-year

Profit MarginProfitability
28.6%9/10

Keeps 29 of every $100 in revenue as profit

Debt/EquityHealth
0.209/10

Conservative balance sheet, low leverage

P/E RatioValuation
14.9x8/10

Attractively priced relative to earnings

ITUB6 strengths · Avg: 9.7/10
P/E RatioValuation
10.0x10/10

Attractively priced relative to earnings

Profit MarginProfitability
32.6%10/10

Keeps 33 of every $100 in revenue as profit

Operating MarginProfitability
39.1%10/10

Strong operational efficiency at 39.1%

Free Cash FlowQuality
$70.94B10/10

Generating 70.9B in free cash flow

Market CapQuality
$91.48B9/10

Large-cap with strong market position

Return on EquityProfitability
21.6%9/10

Every $100 of equity generates 22 in profit

Areas to Watch

INDB4 concerns · Avg: 2.5/10
Return on EquityProfitability
6.8%3/10

ROE of 6.8% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
11.002/10

Expensive relative to growth rate

Altman Z-ScoreHealth
0.242/10

Distress zone — elevated risk

ITUB2 concerns · Avg: 2.0/10
Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Debt/EquityHealth
4.711/10

Elevated debt levels

Comparative Analysis Report

WallStSmart Research

Bull Case : INDB

The strongest argument for INDB centers on Price/Book, Operating Margin, Revenue Growth. Profitability is solid with margins at 28.6% and operating margin at 47.2%. Revenue growth of 41.5% demonstrates continued momentum.

Bull Case : ITUB

The strongest argument for ITUB centers on P/E Ratio, Profit Margin, Operating Margin. Profitability is solid with margins at 32.6% and operating margin at 39.1%. Revenue growth of 17.5% demonstrates continued momentum.

Bear Case : INDB

The primary concerns for INDB are Return on Equity, Piotroski F-Score, PEG Ratio.

Bear Case : ITUB

The primary concerns for ITUB are Piotroski F-Score, Debt/Equity. Debt-to-equity of 4.71 is elevated, increasing financial risk.

Key Dynamics to Monitor

INDB carries more volatility with a beta of 0.78 — expect wider price swings.

INDB is growing revenue faster at 41.5% — sustainability is the question.

ITUB generates stronger free cash flow (70.9B), providing more financial flexibility.

Monitor BANKS - REGIONAL industry trends, competitive dynamics, and regulatory changes.

Bottom Line

ITUB scores higher overall (77/100 vs 73/100), backed by strong 32.6% margins and 17.5% revenue growth. Both earn "Strong Buy" and "Strong Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Independent Bank

FINANCIAL SERVICES · BANKS - REGIONAL · USA

Independent Bank Corp. The company is headquartered in Rockland, Massachusetts.

Itau Unibanco Banco Holding SA

FINANCIAL SERVICES · BANKS - REGIONAL · USA

Ita Unibanco Holding SA offers a range of financial products and services in Brazil and internationally. The company is headquartered in So Paulo, Brazil.

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