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Financial Institutions, Inc.

FISI Financial Banks Regional

Financial Institutions, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $377.9 million, up 41.8% from fiscal 2024.

Revenue
+0.58%
EPS
+24.7%
Free cash flow
+398.0%
Total debt
−31.5%

Quarter to June 2026, against a year earlier

39.58 0.86 −2.13%
Market cap
$771.3M
P/E
9.7×
Fwd P/E
9.4×
Dividend yield
3.21%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.08
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — 1
Sell — — — — — — — — — — — —
Insider Ownership 3.39%

Capital & Financial Ratios $m

Size
Market Cap 771.28
Revenue ttm 379.30
Net income ttm 82.63
Free cash flow ttm 56.33
Net debt Q (20.48)
Valuation
P/E 9.68
Forward P/E 9.38
Price / sales 2.05
Forward P/S Powerpack
Price / FCF 13.83
Price / book 1.24
Financial health
Current ratio Q 0.88
Debt / equity Q 0.12
Interest coverage Q —
Growth
Revenue growth Q +0.58% (above 0%: growing)
Operating income growth Q +19.11% (above 0%: growing)
EPS, this year +15.10% (at or above 15%: strong)
EPS, next year A +4.09%
Revenue, next year A −30.97% (below 0%: weak)
EPS, past 5 yrs +9.43%
EPS, next 5 yrs A +8.02%

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 52.28%
10-year low 10-year high
P/S against its own 10 years 44.96%
10-year low 10-year high
P/B against its own 10 years 72.75%
10-year low 10-year high

Dividends

Yield
3.21%
Annual rate
1.27
Payout ratio
31.5%
Growth, 2017–25
+4.83%/yr
  1. 0.85 ’17
  2. 0.96 ’18 +13
  3. 1.00 ’19 +4
  4. 1.04 ’20 +4
  5. 1.08 ’21 +4
  6. 1.16 ’22 +7
  7. 1.20 ’23 +3
  8. 1.20 ’24 +0
  9. 1.24 ’25 +3
  10. 1.28 ’26e +3
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 124 87 109 99
Receivables — — — —
Inventory — — — —
Other — — — —
4,537 4,521 4,723 4,807
2023 2024 2025 Q'26
Payables 5,213 5,105 5,206 5,299
ST’ Debt — — — —
Other — — — —
5,398 5,204 5,315 5,481

Compound Annual Growth %

10y 5y 3y
Sales 10.78% 13.07% 15.96%
Cash Flow (7.96%) (15.43%) (47.98%)
Earnings 10.57% 14.77% 10.03%
Book Value 7.91% 6.07% 15.74%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.05 Actual 0.99

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.95 0.96 Beat by 0.01
Q1 FY26 0.92 1.04 Beat by 0.12
Q2 FY26 0.93 1.04 Beat by 0.11
Q3 FY26 1.05 0.99 Miss by 0.06
Q4 FY26 1.08 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.04 1.04 — — —
’25 0.81 0.85 0.99 0.96 3.61
’24 0.11 1.62 0.84 (5.07) (2.66)
’23 0.76 0.91 0.88 0.61 3.15
’22 0.93 0.99 0.88 0.76 3.56
’21 1.27 1.25 1.05 1.21 4.78
’20 0.05 0.67 0.74 0.84 2.30
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 92 94 — — —
’25 91 93 96 97 378
’24 89 103 87 (13) 267
’23 75 83 85 92 334
’22 54 57 63 69 242
’21 54 51 53 55 214
’20 52 49 52 52 204
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 24 23 — — —
’25 10 (6) (7) 21 19
’24 12 36 2 27 77
’23 7 8 44 (48) 11
’22 44 38 36 16 134
’21 20 11 9 33 73
’20 4 6 10 23 43
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 23 22 — — —
’25 9 (7) (8) 19 13
’24 11 35 0 27 72
’23 6 8 43 (49) 8
’22 43 35 34 13 125
’21 20 7 7 33 67
’20 4 5 10 22 40
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 151 165 189 209 204 214 242 334 267 378 379 +10.7% 261 273 283 (9.2%)
Gross margin, % 91.69 89.39 84.21 81.41 89.09 94.17 88.14 63.99 43.86 64.81 67.21 (26.9) pt
EBT 44 43 50 59 46 97 71 63 (68) 91 100 +8.4%
EBT margin, % 29.23 26.37 26.18 28.41 22.36 45.41 29.28 18.86 (25.57) 24.17 26.28 (5.1) pt
Net income 32 34 40 49 38 78 57 50 (42) 75 83 +9.9%
Per share, $
Per share, $ Revenue 10.46 10.96 11.89 13.10 12.76 13.52 15.76 21.75 17.00 18.80 19.27 +6.7%
Earnings 2.11 2.13 2.39 2.97 2.30 4.81 3.58 3.17 (2.66) 3.65 4.09 +6.3%
Cash flow 3.23 3.08 4.09 3.61 2.71 4.61 8.68 0.71 4.92 0.94 3.09 (12.9%)
Capex (0.47) (0.50) (0.14) (0.21) (0.23) (0.37) (0.54) (0.19) (0.32) (0.27) (0.23) (5.9%)
Free cash flow 2.77 2.58 3.95 3.41 2.48 4.23 8.14 0.51 4.60 0.66 2.86 (14.7%)
Book value 22.17 25.34 24.91 27.48 29.23 31.89 26.37 29.58 36.28 31.29 32.68 +3.9%
Shares, m 14 15 16 16 16 16 15 15 16 20 20 +3.7%
Valuation, ×
Valuation, × P/E 16.04 14.69 10.75 10.81 9.78 6.61 6.87 6.76 0.00 8.54 9.68 9.1
P/S 3.24 2.84 2.16 2.45 1.76 2.35 1.56 0.99 1.68 1.66 2.05 2.1
P/B 1.61 1.29 1.08 1.22 0.80 1.03 0.97 0.75 0.81 1.02 1.24 1.1
EV/Sales 3.02 2.48 1.83 2.10 1.66 2.33 1.33 0.99 1.75 1.88 — 1.9
EV/FCF 11.43 10.54 5.49 8.07 8.57 7.43 2.57 41.73 6.45 53.28 — 15.6
Cash, $m
Cash, $m Operating cash flow 47 46 65 58 43 73 134 11 77 19 61 (9.6%)
Capex (7) (8) (2) (3) (4) (6) (8) (3) (5) (5) (5) (2.4%)
Free cash flow 40 39 63 54 40 67 125 8 72 13 56 (11.5%)
Balance, $m
Balance, $m Working capital (945) (854) (678) (523) (643) (1,132) (998) (861) (683) (593) (674) (5.1%)
Net debt (32) (60) (64) (74) (20) (5) (56) 0 38 85 (20) n/m
Shareholders’ equity 320 381 396 439 468 505 406 455 569 629 643 +7.8%
Returns, %
Returns, % ROA 0.86 0.82 0.90 1.09 0.79 1.46 0.97 0.82 (0.70) 1.18 1.30 +0.3 pt
ROIC 9.58 8.77 9.75 10.17 6.59 12.17 12.99 8.66 (7.02) 8.00 10.00 (1.6) pt
ROE 10.52 9.62 10.25 11.84 8.45 16.24 12.58 11.82 (8.72) 12.62 13.41 +2.1 pt
People
People Employees 654 656 702 722 613 625 672 624 598 631 — (0.4%)
Revenue/emp, $m 0.23 0.25 0.27 0.29 0.33 0.34 0.36 0.54 0.45 0.60 — +11.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Financial Institutions, 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
SPFI South Plains Financial, Inc. $807.8M 10.9× 11.3× +19.20% (above 0%: growing) +10.19% (above 0%: growing) +36.07% (above 0%: growing) 72.35% 0.00% Compare
IBCP Independent Bank Corp. $802.2M 10.6× 10.8× +14.65% (above 0%: growing) −4.71% (below 0%: shrinking) −1.00% (below 0%: shrinking) 76.31% 0.00% Compare
SMBC Southern Missouri Bancorp, Inc. $776.7M 11.0× 10.6× +2.83% (above 0%: growing) +31.43% (above 0%: growing) −50.54% (below 0%: shrinking) 64.61% 0.00% Compare
FISI Financial Institutions, Inc. $771.3M 9.7× 9.4× +0.58% (above 0%: growing) +24.71% (above 0%: growing) +397.95% (above 0%: growing) 68.40% 0.00%
AGBK AGI, Inc. $769.3M — — — — −476.07% (below 0%: shrinking) 45.30% 0.00% Compare
SHBI Shore Bancshares Inc $744.8M 10.9× 10.4× +3.34% (above 0%: growing) +16.84% (above 0%: growing) −14.11% (below 0%: shrinking) 71.59% 0.00% Compare
HTB HomeTrust Bancshares, Inc. $742.9M 12.2× 11.7× −4.58% (below 0%: shrinking) −5.94% (below 0%: shrinking) +417.30% (above 0%: growing) 77.45% 0.00% Compare
WASH Washington Trust Bancorp, Inc. $737.6M 11.5× 11.4× +0.09% (above 0%: growing) +78.95% (above 0%: growing) −48.12% (below 0%: shrinking) 65.83% 0.00% Compare
PFIS Peoples Financial Services Corp. $730.2M 12.9× 11.0× +3.78% (above 0%: growing) −12.94% (below 0%: shrinking) +54.41% (above 0%: growing) 70.19% 0.00% Compare
Median of peers $757.0M 11.0× 11.0× +3.34% +10.19% −7.55% 70.89% 0.00%

All 327 Banks Regional stocks →

Pay and ownership Proxy statement filed 6 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 2.39m 2.58m 176.83
2024 1.41m 1.35m 148.01
2023 1.47m 1.30m 109.20
2022 1.49m 1.35m 117.11
2021 1.49m 1.93m 146.37

Ownership

Directors and executive officers, together 2.44% of Common
PL Capital Advisors, LLC 9.12%
BlackRock, Inc. 6.85%
Wellington Management Group LLP 5.33%
Dimensional Fund Advisors LP 5.11%
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

Financial Institutions, Inc. (FISI) Latest News

30 Oct

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24 Jul

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Impact 4 · · Simply Wall St.

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25 Apr

Impact 4 · · GuruFocus.com

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14 Apr

Impact 4 · · Simply Wall St.

2 Mar

Impact 3 · · Simply Wall St.

15 Feb

Impact 4 · · Simply Wall St.

12 Feb

Impact 3 · · GlobeNewswire

9 Feb

Impact 3 · · Business Wire

30 Jan

Impact 4 · · GuruFocus.com
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat transcript

29 Jan

Impact 4 · · Associated Press Finance
Impact 3 ·

22 Jan

Impact 3 · · Simply Wall St.

12 Dec

Impact 3 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

11 Dec

Impact 3 · · GlobeNewswire

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stockrow.com/FISI · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com