Saturday 17 October 2026
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First Business Financial Services, Inc.
FBIZ Financial Banks Regional
First Business Financial Services, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $279.2 million, up 6.43% from fiscal 2024. In the quarter to June 2026, revenue grew 7.37%, EPS grew 36.3%, free cash flow grew 181.5% and total debt rose 25.6%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five, operating cash flow growth for five; insiders bought in the last twelve months.
70.51
0.43
+0.61%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
13.88 | 16.35 | 10.49 | 9.82 | 9.35 | 7.03 | 7.65 | 9.30 | 8.87 | 9.13 |
Piotroski F-Score |
6 | 4 | 6 | 7 | 6 | 7 | 6 | 6 | 6 | 6 |
P/S ratio |
2.10 | 2.09 | 1.54 | 1.79 | 1.27 | 1.95 | 1.98 | 1.45 | 1.44 | 1.59 |
P/FCF ratio |
7.91 | 9.11 | 6.93 | 7.86 | 5.85 | 6.80 | 8.42 | 6.66 | 6.58 | 7.25 |
P/Operating CF |
22.53 | 65.09 | 31.23 | 27.25 | 7.28 | 21.60 | 41.10 | 24.66 | 17.17 | 27.44 |
P/B ratio |
1.25 | 1.14 | 0.93 | 1.15 | 0.75 | 1.04 | 1.20 | 1.18 | 1.19 | 1.23 |
Price to Tangible BV |
1.36 | 1.23 | 1.00 | 1.23 | 0.80 | 1.10 | 1.26 | 1.24 | 1.24 | 1.27 |
EV/Sales |
2.02 | 3.87 | 3.57 | 3.88 | 4.35 | 4.83 | 4.33 | 2.30 | 2.06 | 2.35 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
7.43 | 15.99 | 15.47 | 16.79 | 19.77 | 16.64 | 16.88 | 9.95 | 9.38 | 10.63 |
EV/FCF |
7.60 | 16.93 | 16.08 | 17.06 | 19.97 | 16.80 | 18.41 | 10.53 | 9.42 | 10.73 |
Quick Ratio |
0.05 | 0.04 | 0.06 | 0.04 | 0.03 | 0.03 | 0.05 | 0.05 | 0.05 | 0.01 |
Current Ratio |
0.99 | 1.11 | 1.17 | 1.16 | 1.19 | 1.17 | 1.18 | 1.08 | 1.07 | 1.03 |
Net Debt/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Debt/Assets |
3.91% | 12.15% | 15.71% | 15.71% | 16.72% | 15.59% | 15.35% | 9.43% | 8.31% | 6.17% |
Debt/Equity |
0.43 | 1.29 | 1.71 | 1.70 | 2.08 | 1.78 | 1.75 | 1.14 | 0.97 | 0.68 |
Asset Turnover |
0.05 | 0.05 | 0.06 | 0.06 | 0.05 | 0.05 | 0.05 | 0.07 | 0.07 | 0.07 |
Operating CF/Net income |
1.78 | 1.91 | 1.57 | 1.27 | 1.61 | 1.04 | 0.99 | 1.49 | 1.36 | 1.27 |
Capex/Depreciation |
(0.39) | (0.80) | (0.66) | (0.07) | (0.08) | (0.10) | (0.63) | (0.38) | (0.02) | (0.06) |
| 9.40% | 7.10% | 9.18% | 12.18% | 8.27% | 15.82% | 16.24% | 13.38% | 14.25% | 14.34% | |
| 0.82% | 0.66% | 0.85% | 1.12% | 0.71% | 1.33% | 1.39% | 1.09% | 1.15% | 1.22% | |
ROIC |
6.93% | 2.66% | 2.74% | 3.35% | 1.98% | 4.99% | 5.31% | 6.13% | 6.51% | 6.47% |
Return on Tangible Assets |
(170.83%) | 7.17% | 6.42% | 8.94% | 4.68% | 10.10% | 9.67% | 15.06% | 19.85% | 51.65% |
Average Days of Receivables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
66.86% | 68.17% | 62.00% | 54.82% | 70.76% | 52.97% | 50.14% | 42.18% | 38.49% | 38.24% |
Intangible Assets out of Total Assets |
0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
1.03% | 1.17% | 0.92% | 1.25% | 1.54% | 2.03% | 1.71% | 1.32% | 1.06% | 1.00% |
Graham Net Nets |
(0.41) | (0.30) | (0.37) | (0.47) | (0.90) | (0.43) | (0.43) | (0.50) | (0.47) | (0.47) |
Graham Number |
26.85 | 24.61 | 29.59 | 37.08 | 33.01 | 51.09 | 56.77 | 57.80 | 67.55 | 76.82 |
Earnings Yield |
7.21% | 6.12% | 9.53% | 10.18% | 10.70% | 14.23% | 13.08% | 10.76% | 11.28% | 10.96% |
Free Cash Flow Yield |
12.65% | 10.97% | 14.42% | 12.72% | 17.08% | 14.70% | 11.88% | 15.03% | 15.19% | 13.79% |
Revenue per Share |
11.21 | 10.74 | 12.67 | 14.73 | 14.45 | 14.92 | 18.33 | 27.82 | 32.20 | 34.23 |
Operating CF per Share |
3.05 | 2.60 | 2.93 | 3.40 | 3.18 | 4.33 | 4.70 | 6.43 | 7.06 | 7.56 |
Capex per Share |
(0.07) | (0.14) | (0.11) | (0.03) | (0.03) | (0.04) | (0.39) | (0.35) | (0.02) | (0.07) |
Free Cash Flow per Share |
2.98 | 2.46 | 2.81 | 3.38 | 3.15 | 4.29 | 4.31 | 6.08 | 7.03 | 7.49 |
Cash per Share |
9.04 | 6.10 | 10.02 | 7.88 | 6.79 | 6.87 | 12.48 | 17.16 | 19.35 | 4.84 |
Shareholders Equity per Share |
18.85 | 19.65 | 20.91 | 22.80 | 24.59 | 27.95 | 31.68 | 35.61 | 40.33 | 45.55 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
18.85 | 19.65 | 20.91 | 22.80 | 24.59 | 27.95 | 31.68 | 35.61 | 40.33 | 45.55 |
Free Cash Flow |
25.58 | 21.17 | 24.31 | 28.76 | 26.37 | 35.65 | 35.42 | 49.41 | 57.30 | 61.10 |
Working Capital |
(12.37) | 160.54 | 246.94 | 252.81 | 351.40 | 341.88 | 399.69 | 227.70 | 208.02 | 89.21 |
Capital Expenditures |
(0.58) | (1.24) | (0.97) | (0.22) | (0.26) | (0.35) | (3.22) | (2.88) | (0.19) | (0.59) |
Net Current Asset Value |
(82.05) | (57.37) | (62.04) | (105.04) | (139.14) | (105.34) | (128.71) | (164.11) | (177.02) | (207.13) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.02 | 0.01 | 0.00 | 0.00 |
Price to Operating Income |
11.85 | 13.56 | 9.55 | 9.15 | 8.43 | 5.16 | 5.71 | 6.78 | 7.19 | 7.16 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.40 | 0.49 | 0.45 | 1.31 | 1.73 | 2.10 | 1.18 | 1.24 | 1.86 | 2.02 |
Cash ROIC |
8.28% | 4.81% | 4.22% | 4.87% | 3.81% | 5.07% | 4.32% | 6.50% | 7.11% | 9.21% |
Accounts Receivable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Accounts Payable Turnover |
0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.03 | 0.04 | 0.03 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
37,979.72 | 33,477.89 | 22,194.63 | 17,356.09 | 39,587.52 | 63,058.49 | 34,484.95 | 12,397.67 | 10,411.90 | 11,153.96 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Payables |
1,558.04 | 1,466.59 | 1,424.82 | 1,492.84 | 1,692.95 | 1,906.72 | 2,063.06 | 2,482.49 | 2,951.96 | 3,243.78 |
Average Assets |
1,781.39 | 1,787.38 | 1,880.26 | 2,031.62 | 2,332.31 | 2,610.37 | 2,814.76 | 3,242.23 | 3,680.53 | 3,967.55 |
Average Common Equity |
156.24 | 165.46 | 174.99 | 187.43 | 200.16 | 219.29 | 240.54 | 263.12 | 297.10 | 338.10 |
Columns are period end dates