Monday 2 November 2026 Export BFST’s income statement to Excel — free account

Business First Bancshares, Inc.

Business First Bancshares, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $516.6 million, up 12.5% from fiscal 2024.

Revenue: +8.01%
EPS: 0.00%
Free cash flow: +80.8%
Total debt: −4.09%

Quarter to June 2026, against a year earlier

32.75 0.95 +2.99%

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Market cap: $1.0B
P/E: 11.6×
Fwd P/E: 11.0×
Dividend yield: 2.29%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview

Insider Decisions last twelve months

Bought, $m 0.09

Sold, $m 6.57

Trades a month
	Jan 26			Apr 26			Jul 26			Oct 26
Buy	—	1	1	—	—	—	—	1	—	—	—	—
Sell	—	1	2	2	—	2	2	4	7	—	—	—

Insider Ownership 6.23%

Capital & Financial Ratios $m

Size

Market Cap 1,030.00

Revenue ttm 536.53

Net income ttm 92.95

Free cash flow ttm 103.24

Net debt Q (135.42)

Valuation

P/E 11.61

Forward P/E 11.00

Price / sales 1.99

Forward P/S Powerpack

Price / FCF 10.34

Price / book 1.14

Financial health

Current ratio Q 1.01

Debt / equity Q 0.56

Interest coverage Q —

Growth

Revenue growth Q +8.01%

Operating income growth Q +8.37%

EPS, this year +7.14%

EPS, next year A +8.97%

Revenue, next year A −28.86%

EPS, past 5 yrs +11.21%

EPS, next 5 yrs A +7.75%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 66.33%

10-year low 10-year high

P/S against its own 10 years 49.42%

10-year low 10-year high

P/B against its own 10 years 68.00%

10-year low 10-year high

Dividends raised every year since 2018

Yield: 2.29%
Annual rate: 0.75
Payout ratio: 26.6%
Growth, 2018–26: +12.1%/yr

0.24 ’18
0.38 ’19 +58%
0.40 ’20 +5%
0.46 ’21 +15%
0.48 ’22 +4%
0.50 ’23 +4%
0.56 ’24 +12%
0.57 ’25 +2%
0.60 ’26 +5%

paid Powerpack

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	377	568	609	702
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	5,360	6,531	6,784	7,341

	2023	2024	2025	Q'26
Payables	5,249	6,511	6,699	7,236
ST’ Debt	—	—	—	—
Other	—	—	—	—
	5,283	6,540	6,725	7,264

Compound Annual Growth %

	10y	5y	3y
Sales	28.59%	24.70%	24.85%
Cash Flow	39.09%	25.70%	9.79%
Earnings	35.02%	22.42%	15.94%
Book Value	23.08%	16.95%	15.61%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.74 Actual 0.79

0.67 0.71 0.75 0.78 0.82

Q4 FY25 Beat +0.07

Q1 FY26 Beat +0.04

Q2 FY26 Met 0.00

Q3 FY26 Beat +0.05

Q4 FY26 — Jan 28

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q4 FY25	0.72	0.79	Beat by 0.07
Q1 FY26	0.69	0.73	Beat by 0.04
Q2 FY26	0.71	0.71	Met by 0.00
Q3 FY26	0.74	0.79	Beat by 0.05
Q4 FY26	0.80	—	Reports 28 January 2027

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.68	0.70	—	—	—
’25	0.65	0.70	0.73	0.71	2.79
’24	0.48	0.62	0.65	0.51	2.26
’23	0.54	0.73	0.76	0.57	2.59
’22	0.41	0.61	0.61	0.67	2.32
’21	0.59	0.84	0.50	0.59	2.53
’20	0.34	0.11	0.46	0.67	1.64

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	137	140	—	—	—
’25	127	129	130	130	517
’24	105	112	114	128	459
’23	88	98	103	101	390
’22	50	61	72	83	265
’21	49	60	48	50	206
’20	29	42	47	54	171

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	27	27	—	—	—
’25	29	14	33	17	92
’24	8	15	21	17	61
’23	23	26	22	20	91
’22	19	18	21	11	70
’21	18	12	12	15	56
’20	6	(13)	22	14	29

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	28	25	—	—	—
’25	28	14	32	19	92
’24	7	14	21	18	60
’23	21	26	19	14	79
’22	16	16	20	11	63
’21	18	11	12	12	52
’20	5	(15)	23	14	27

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM Jun ’26	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
													Ten-year view		Analyst estimates Powerpack
Income, $m
Income, $m	Revenue	49	57	84	114	171	206	265	390	459	517	537		+30.0%	368	392	413	(7.2%)
	Gross margin, %	88.07	87.37	83.37	79.62	87.09	91.97	86.23	64.56	59.17	62.86	64.32		(25.2) pt	Powerpack Business First Bancshares, Inc.’s next three years, line by line Analysts expect revenue to shrink 7.2% a year to 2028 — slower than the 30.0% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	7	9	17	30	37	65	69	91	83	110	116		+36.5%
	EBT margin, %	13.77	15.64	20.68	26.15	21.47	31.31	25.84	23.23	18.10	21.35	21.67		+7.6 pt
	Net income	5	5	14	24	30	52	54	71	65	88	93		+37.2%
Per share, $
Per share, $	Revenue	6.94	7.47	7.55	8.58	9.43	10.06	11.73	15.55	17.48	17.57	16.46		+10.9%
	Earnings	0.73	0.63	1.27	1.79	1.65	2.54	2.34	2.62	2.27	2.81	2.82		+16.2%
	Cash flow	1.16	1.04	1.73	1.83	1.61	2.75	3.07	3.63	2.34	3.13	3.17		+11.7%
	Capex	(0.20)	(0.07)	(0.08)	(0.24)	(0.13)	(0.19)	(0.31)	(0.46)	(0.06)	0.00	0.00		(39.5%)
	Free cash flow	0.96	0.97	1.65	1.60	1.48	2.56	2.76	3.16	2.28	3.13	3.17		+14.1%
	Book value	16.15	23.50	23.38	21.42	22.56	21.14	25.65	25.69	30.45	30.51	30.95		+7.3%
	Shares, m	7	8	11	13	18	21	23	25	26	29	31		+17.2%
Valuation, ×
Valuation, ×	P/E	39.10	39.10	19.23	14.01	12.81	11.15	9.46	9.39	11.22	9.37	11.61		17.5
	P/S	4.12	4.12	3.21	2.91	2.16	2.81	1.87	1.58	1.47	1.49	1.99		2.6
	P/B	1.44	1.44	1.04	1.16	0.90	1.34	0.98	1.07	0.93	0.93	1.14		1.1
	EV/Sales	4.57	4.57	2.52	2.62	0.73	2.20	3.22	2.19	1.24	1.33	—		2.5
	EV/FCF	29.75	29.75	11.53	14.09	4.67	8.64	13.66	10.76	9.49	7.48	—		14.0
Cash, $m
Cash, $m	Operating cash flow	8	8	19	24	29	56	70	91	61	92	103		+30.9%
	Capex	(1)	(1)	(1)	(3)	(2)	(4)	(7)	(12)	(2)	0	0		(28.9%)
	Free cash flow	7	7	18	21	27	52	63	79	60	92	103		+33.7%
Balance, $m
Balance, $m	Working capital	(86)	28	(84)	6	(329)	(621)	(94)	78	(9)	59	77		n/m
	Net debt	5	(39)	(58)	(33)	(244)	(127)	358	239	(107)	(80)	(135)		n/m
	Shareholders’ equity	114	180	260	285	410	433	580	644	799	897	1,009		+25.8%
Returns, %
Returns, %	ROA	0.47	0.40	0.82	1.09	0.93	1.17	0.99	1.04	0.83	1.03	1.04		+0.6 pt
	ROIC	3.53	3.96	5.37	7.39	13.86	13.17	4.57	6.41	7.50	8.44	8.41		+4.9 pt
	ROE	4.52	3.30	6.41	8.72	8.63	12.36	11.23	12.15	9.19	10.62	10.22		+6.1 pt
People
People	Employees	208	219	333	355	590	666	748	770	872	842	—		+16.8%
	Revenue/emp, $m	0.23	0.26	0.25	0.32	0.29	0.31	0.35	0.51	0.53	0.61	—		+11.3%

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
CFFN Capitol Federal Financial	$1.1B	13.0×	12.3×	+6.50% (above 0%: growing)	+35.71% (above 0%: growing)	+45.71% (above 0%: growing)	53.81%	0.00%	Compare
CCNE CNB Financial Corporation	$1.1B	11.3×	9.9×	+33.95% (above 0%: growing)	+49.18% (above 0%: growing)	+101.89% (above 0%: growing)	69.04%	0.00%	Compare
BFST Business First Bancshares, Inc.	$1.0B	11.3×	11.0×	+8.01% (above 0%: growing)	0.00%	+80.82% (above 0%: growing)	65.76%	0.00%
MCBS MetroCity Bankshares, Inc.	$1.0B	12.3×	11.4×	+27.40% (above 0%: growing)	+16.67% (above 0%: growing)	+45.94% (above 0%: growing)	65.38%	0.00%	Compare
MBWM Mercantile Bank Corporation	$1.0B	10.5×	10.7×	+5.11% (above 0%: growing)	+7.91% (above 0%: growing)	+246.97% (above 0%: growing)	70.02%	0.00%	Compare
EGBN Eagle Bancorp, Inc.	$1.0B	— (loss-making)	16.6×	−13.00% (below 0%: shrinking)	n/m	+207.40% (above 0%: growing)	53.23%	0.00%	Compare
EQBK Equity Bancshares, Inc.	$1.0B	28.6×	10.6×	+39.99% (above 0%: growing)	+47.13% (above 0%: growing)	+40.78% (above 0%: growing)	70.70%	0.00%	Compare
SBSI Southside Bancshares, Inc.	$1.0B	13.3×	9.6×	+6.52% (above 0%: growing)	+25.00% (above 0%: growing)	+1,301.48% (above 0%: growing)	60.49%	0.00%	Compare
CAC Camden National Corporation	$968.9M	10.9×	10.8×	+1.16% (above 0%: growing)	+63.86% (above 0%: growing)	+557.83% (above 0%: growing)	72.13%	0.00%	Compare
Median of peers	$1.0B	12.3×	10.8×	+6.51%	+35.71%	+154.64%	67.21%	0.00%

All 328 Banks Regional stocks →

Pay and ownership Proxy statement filed 8 April 2026

Chief executive’s pay

Year	Total pay	Actually paid	$100 invested
2025	2.58m	2.60m	143.66
2024	3.12m	3.09m	138.09
2023	2.40m	2.42m	129.26
2022	2.52m	2.03m	113.04
2021	2.03m	2.18m	141.69

Ownership

Directors and executive officers, together 5.67%

Blackrock, Inc. 7.01%

The Vanguard Group 5.04%

Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement