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Saturday 17 October 2026 Export FBIZ’s income statement to Excel — free account

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%
Market cap
$586.5M
P/E
10.7×
Fwd P/E
9.4×
Dividend yield
1.86%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.00
Total sells 0.05
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 1 — — — — — — — — — — —
Sell — — — — — — — — — 1 — —
Insider Ownership 6.31%

Capital & Financial Ratios $m

Market Cap 586.45
Revenue 287.86
Net Income 55.51
Free Cash Flow 80.95
Net Debt 183.44
Current Ratio 1.06
Debt/Equity 0.88
P/E ratio 10.75
Fwd P/E 9.35
P/S ratio 2.01
P/B ratio 1.51
Past 5Y EPS Growth 24.70% (at or above 15%: strong)
This Y EPS Growth 10.07%
Next Y EPS Growth 6.30%
Next Y revenue growth (33.79%) (below 0%: weak)
Next 5Y EPS Growth 8.20%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 65.68%
10-year low 10-year high
P/S against its own 10 years 68.04%
10-year low 10-year high
P/B against its own 10 years 98.89%
10-year low 10-year high

Dividends

Payout Ratio 0.20
Annual Dividend Rate 1.31
Annual Dividend Yield 1.86%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.36
0.34
0.34
0.34
2025 1.16
0.29
0.29
0.29
0.29
2024 1.25
0.25
0.25
0.25
0.25
0.25
2023 0.91
0.23
0.23
0.23
0.23
2022 0.79
0.20
0.20
0.20
0.20
2021 0.72
0.18
0.18
0.18
0.18
2020 0.66
0.17
0.17
0.17
0.17
2019 0.60
0.15
0.15
0.15
0.15
2018 0.56
0.14
0.00
0.14
0.14
0.14
2017 0.52
0.13
0.13
0.13
0.13
2016 0.48
0.12
0.12
0.12
0.12
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 140 158 39 163
Receivables — — — —
Inventory — — — —
Other — — — —
3,054 3,348 3,503 3,830
2023 2024 2025 Q'26
Payables 2,797 3,107 3,380 3,592
ST’ Debt — — — —
Other — — — —
2,826 3,140 3,414 3,621

Compound Annual Growth %

10y 5y 3y
Sales 12.05% 18.18% 22.80%
Cash Flow 10.27% 18.29% 16.87%
Earnings 11.56% 23.98% 7.47%
Book Value 9.44% 12.50% 12.55%

Revenue $m

Mar Jun Sep Dec Year
’26 71 74 — — —
’25 67 69 73 70 279
’24 63 65 66 68 262
’23 50 55 59 62 226
’22 32 34 40 45 151
’21 31 31 31 31 124
’20 30 29 30 33 121
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 3 44 — — —
’25 11 16 18 16 62
’24 9 13 14 22 57
’23 10 13 16 13 52
’22 2 15 15 7 39
’21 7 8 10 11 36
’20 1 0 4 21 27
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 3 44 — — —
’25 11 16 18 16 61
’24 8 13 14 22 57
’23 9 12 15 13 49
’22 2 14 13 6 35
’21 7 8 10 11 36
’20 1 0 4 21 26
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.44 1.84 — — —
’25 1.32 1.35 1.70 1.58 5.94
’24 1.04 1.23 1.24 1.71 5.20
’23 1.05 0.98 1.17 1.15 4.33
’22 1.02 1.29 1.25 1.18 4.75
’21 1.12 0.95 1.07 1.01 4.17
’20 0.38 0.38 0.50 0.71 1.97
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 18.76 20.57 18.76 19.36 12.86 17.56 28.97 24.57 32.56 42.18

Analyst estimates 2026–2028

Powerpack
High 25.94 28.43 26.95 26.49 27.35 31.89 39.88 41.03 52.22 58.41
People
People Employees 272 264 289 301 301 312 345 349 353 371
Revenue/emp, $m 0.35 0.35 0.38 0.42 0.40 0.40 0.44 0.65 0.74 0.75
Income, $m
Income, $m Revenue 96 92 109 125 121 124 151 226 262 279
Gross margin, % 84.61 83.56 78.13 74.35 85.88 90.87 84.78 63.60 58.49 60.39
EBT 17 14 18 24 18 47 52 47 51 60
EBT margin, % 17.76 15.39 16.13 19.53 15.11 37.90 34.64 20.84 19.49 21.65
Net income 15 12 16 23 17 36 41 37 44 50
Depreciation 2 2 1 3 3 4 5 8 10 9
Per share, $
Per share, $ Revenue 11.21 10.74 12.67 14.73 14.45 14.92 18.33 27.82 32.20 34.23
Earnings 1.71 1.36 1.86 2.68 1.97 4.17 4.75 4.33 5.20 5.94
Cash flow 3.05 2.60 2.93 3.40 3.18 4.33 4.70 6.43 7.06 7.56
Capex (0.07) (0.14) (0.11) (0.03) (0.03) (0.04) (0.39) (0.35) (0.02) (0.07)
Free cash flow 2.98 2.46 2.81 3.38 3.15 4.29 4.31 6.08 7.03 7.49
Book value 18.85 19.65 20.91 22.80 24.59 27.95 31.68 35.61 40.33 45.55
Shares, m 9 9 9 9 8 8 8 8 8 8
Valuation, ×
Valuation, × P/E 13.88 16.35 10.49 9.82 9.35 7.03 7.65 9.30 8.87 9.13
P/S 2.10 2.09 1.54 1.79 1.27 1.95 1.98 1.45 1.44 1.59
P/B 1.25 1.14 0.93 1.15 0.75 1.04 1.20 1.18 1.19 1.23
EV/Sales 2.02 3.87 3.57 3.88 4.35 4.83 4.33 2.30 2.06 2.35
EV/FCF 7.60 16.93 16.08 17.06 19.97 16.80 18.41 10.53 9.42 10.73
Cash, $m
Cash, $m Operating cash flow 26 22 25 29 27 36 39 52 57 62
Capex (1) (1) (1) 0 0 0 (3) (3) 0 (1)
Free cash flow 26 21 24 29 26 36 35 49 57 61
Balance, $m
Balance, $m Working capital (12) 161 247 253 351 342 400 228 208 89
Total debt 70 218 309 329 429 414 457 331 320 252
Net debt (8) 165 222 262 372 356 354 191 162 213
Shareholders’ equity 162 169 181 194 206 232 261 290 329 372
Returns, %
Returns, % ROA 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
ROE 9.40 7.10 9.18 12.18 8.27 15.82 16.24 13.38 14.25 14.34
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

First Business Financial Services, Inc. vs peers in Banks Regional (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
FBIZ First Business Financial Services, Inc. $586.5M 10.7× 9.4× +7.37% (above 0%: growing) +36.30% (above 0%: growing) +181.48% (above 0%: growing) 63.47% 0.00%
KRNY Kearny Financial $585.0M 15.7× 10.6× +2.23% (above 0%: growing) 0.00% +72.16% (above 0%: growing) 52.34% 0.00% Compare
GCBC Greene County Bancorp, Inc. $583.1M 14.3× — +7.97% (above 0%: growing) +21.82% (above 0%: growing) +40.48% (above 0%: growing) 67.04% 0.00% Compare
BWB Bridgewater Bancshares, Inc. $568.0M 10.9× 9.5× +2.96% (above 0%: growing) +23.68% (above 0%: growing) +287.44% (above 0%: growing) 54.53% 0.00% Compare
SFST Southern First Bancshares, Inc. $566.3M 12.6× 11.5× +10.76% (above 0%: growing) +50.62% (above 0%: growing) +66.02% (above 0%: growing) 58.21% 0.00% Compare
UNTY Unity Bancorp, Inc. $563.0M 9.6× 9.5× +0.29% (above 0%: growing) −12.20% (below 0%: shrinking) −57.88% (below 0%: shrinking) 69.50% 0.00% Compare
SUPV Grupo Supervielle S.A. $559.2M — (loss-making) — −1.93% (below 0%: shrinking) −28.57% (below 0%: shrinking) −129.06% (below 0%: shrinking) 64.28% 0.00% Compare
CIVB Civista Bancshares, Inc. $558.0M 9.9× 9.4× +4.29% (above 0%: growing) −2.82% (below 0%: shrinking) +44.49% (above 0%: growing) 72.61% 0.00% Compare
NRIM Northrim BanCorp Inc $543.4M 7.6× 9.5× +3.99% (above 0%: growing) +29.58% (above 0%: growing) +934.70% (above 0%: growing) 84.32% 0.00% Compare
Median of peers $564.7M 10.9× 9.5× +3.48% +10.91% +55.26% 65.66% 0.00%

All 323 Banks Regional stocks →

First Business Financial Services, Inc. (FBIZ) key facts

  • Strength: First Business Financial Services, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $279.2 million, up 6.43% from fiscal 2024.
  • Strength: Net income was $50.3 million, or $5.94 per share (basic), a net margin of 17.4%.
  • First Business Financial Services, Inc. (FBIZ) is a Banks Regional company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, FBIZ traded at $70.51, a market capitalization of $586.5 million.
  • At that price the stock trades at 10.7× trailing-twelve-month earnings and 2.0× sales; its P/E is higher than 66% of its own readings over the past ten years.
  • First Business Financial Services, Inc. pays an annual dividend of $1.31 per share, a yield of 1.86%, with a payout ratio of 20.0%.
  • Return on equity was 14.3% and debt-to-equity 0.88.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

First Business Financial Services, Inc. (FBIZ) Latest News

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stockrow.com/FBIZ · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com