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FIRST BUSINESS FINANCIAL SER (FBIZ) Stock Fundamental Analysis

NASDAQ:FBIZ - Nasdaq - US3193901002 - Common Stock - Currency: USD

48.71  +0.05 (+0.1%)

Fundamental Rating

5

Taking everything into account, FBIZ scores 5 out of 10 in our fundamental rating. FBIZ was compared to 397 industry peers in the Banks industry. There are concerns on the financial health of FBIZ while its profitability can be described as average. FBIZ has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

FBIZ had positive earnings in the past year.
In the past year FBIZ had a positive cash flow from operations.
In the past 5 years FBIZ has always been profitable.
FBIZ had a positive operating cash flow in each of the past 5 years.
FBIZ Yearly Net Income VS EBIT VS OCF VS FCFFBIZ Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M

1.2 Ratios

Looking at the Return On Assets, with a value of 1.32%, FBIZ belongs to the top of the industry, outperforming 85.89% of the companies in the same industry.
FBIZ has a better Return On Equity (15.45%) than 93.20% of its industry peers.
Industry RankSector Rank
ROA 1.32%
ROE 15.45%
ROIC N/A
ROA(3y)1.14%
ROA(5y)1.07%
ROE(3y)13.35%
ROE(5y)12.61%
ROIC(3y)N/A
ROIC(5y)N/A
FBIZ Yearly ROA, ROE, ROICFBIZ Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

The Profit Margin of FBIZ (26.76%) is better than 69.77% of its industry peers.
FBIZ's Profit Margin has improved in the last couple of years.
FBIZ does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 26.76%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-3.56%
PM growth 5Y2.46%
GM growth 3YN/A
GM growth 5YN/A
FBIZ Yearly Profit, Operating, Gross MarginsFBIZ Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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3

2. Health

2.1 Basic Checks

FBIZ does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, FBIZ has less shares outstanding
The number of shares outstanding for FBIZ has been reduced compared to 5 years ago.
FBIZ has a worse debt/assets ratio than last year.
FBIZ Yearly Shares OutstandingFBIZ Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M
FBIZ Yearly Total Debt VS Total AssetsFBIZ Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

The Debt to FCF ratio of FBIZ is 0.96, which is an excellent value as it means it would take FBIZ, only 0.96 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 0.96, FBIZ is in the better half of the industry, outperforming 74.06% of the companies in the same industry.
A Debt/Equity ratio of 0.17 indicates that FBIZ is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.17, FBIZ is in line with its industry, outperforming 53.40% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 0.96
Altman-Z N/A
ROIC/WACCN/A
WACC17.9%
FBIZ Yearly LT Debt VS Equity VS FCFFBIZ Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
FBIZ Yearly Current Assets VS Current LiabilitesFBIZ Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M

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6

3. Growth

3.1 Past

FBIZ shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 26.73%, which is quite impressive.
Measured over the past years, FBIZ shows a quite strong growth in Earnings Per Share. The EPS has been growing by 14.26% on average per year.
FBIZ shows a small growth in Revenue. In the last year, the Revenue has grown by 6.64%.
FBIZ shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.46% yearly.
EPS 1Y (TTM)26.73%
EPS 3Y7.95%
EPS 5Y14.26%
EPS Q2Q%26.92%
Revenue 1Y (TTM)6.64%
Revenue growth 3Y10.81%
Revenue growth 5Y10.46%
Sales Q2Q%12.58%

3.2 Future

FBIZ is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.14% yearly.
Based on estimates for the next years, FBIZ will show a quite strong growth in Revenue. The Revenue will grow by 9.62% on average per year.
EPS Next Y6.31%
EPS Next 2Y9.14%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year10.09%
Revenue Next 2Y9.62%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
FBIZ Yearly Revenue VS EstimatesFBIZ Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 50M 100M 150M
FBIZ Yearly EPS VS EstimatesFBIZ Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6

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6

4. Valuation

4.1 Price/Earnings Ratio

FBIZ is valuated reasonably with a Price/Earnings ratio of 8.86.
Compared to the rest of the industry, the Price/Earnings ratio of FBIZ indicates a rather cheap valuation: FBIZ is cheaper than 87.66% of the companies listed in the same industry.
FBIZ's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.10.
A Price/Forward Earnings ratio of 7.83 indicates a rather cheap valuation of FBIZ.
82.37% of the companies in the same industry are more expensive than FBIZ, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 20.74, FBIZ is valued rather cheaply.
Industry RankSector Rank
PE 8.86
Fwd PE 7.83
FBIZ Price Earnings VS Forward Price EarningsFBIZ Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Compared to the rest of the industry, the Price/Free Cash Flow ratio of FBIZ indicates a rather cheap valuation: FBIZ is cheaper than 84.63% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 7.08
EV/EBITDA N/A
FBIZ Per share dataFBIZ EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.4
PEG (5Y)0.62
EPS Next 2Y9.14%
EPS Next 3YN/A

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.42%, FBIZ has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 3.49, FBIZ is paying slightly less dividend.
FBIZ's Dividend Yield is comparable with the S&P500 average which is at 2.43.
Industry RankSector Rank
Dividend Yield 2.42%

5.2 History

The dividend of FBIZ is nicely growing with an annual growth rate of 13.04%!
FBIZ has been paying a dividend for at least 10 years, so it has a reliable track record.
FBIZ has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)13.04%
Div Incr Years12
Div Non Decr Years19
FBIZ Yearly Dividends per shareFBIZ Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

18.11% of the earnings are spent on dividend by FBIZ. This is a low number and sustainable payout ratio.
FBIZ's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP18.11%
EPS Next 2Y9.14%
EPS Next 3YN/A
FBIZ Yearly Income VS Free CF VS DividendFBIZ Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
FBIZ Dividend Payout.FBIZ Dividend Payout, showing the Payout Ratio.FBIZ Dividend Payout.PayoutRetained Earnings

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FIRST BUSINESS FINANCIAL SER

NASDAQ:FBIZ (5/6/2025, 3:18:44 PM)

48.71

+0.05 (+0.1%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)04-24 2025-04-24/amc
Earnings (Next)07-23 2025-07-23/amc
Inst Owners71.16%
Inst Owner Change2.71%
Ins Owners4.72%
Ins Owner Change-4.82%
Market Cap405.27M
Analysts83.64
Price Target61.4 (26.05%)
Short Float %0.86%
Short Ratio2.34
Dividend
Industry RankSector Rank
Dividend Yield 2.42%
Yearly Dividend1.11
Dividend Growth(5Y)13.04%
DP18.11%
Div Incr Years12
Div Non Decr Years19
Ex-Date05-09 2025-05-09 (0.29)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)16.85%
Min EPS beat(2)1.92%
Max EPS beat(2)31.78%
EPS beat(4)3
Avg EPS beat(4)8.88%
Min EPS beat(4)-8.69%
Max EPS beat(4)31.78%
EPS beat(8)3
Avg EPS beat(8)3.35%
EPS beat(12)7
Avg EPS beat(12)8.4%
EPS beat(16)11
Avg EPS beat(16)11.48%
Revenue beat(2)1
Avg Revenue beat(2)-0.54%
Min Revenue beat(2)-3.74%
Max Revenue beat(2)2.66%
Revenue beat(4)1
Avg Revenue beat(4)-1.63%
Min Revenue beat(4)-5.35%
Max Revenue beat(4)2.66%
Revenue beat(8)4
Avg Revenue beat(8)6.47%
Revenue beat(12)6
Avg Revenue beat(12)4.68%
Revenue beat(16)7
Avg Revenue beat(16)3.25%
PT rev (1m)-1.95%
PT rev (3m)8.27%
EPS NQ rev (1m)0%
EPS NQ rev (3m)4.75%
EPS NY rev (1m)0%
EPS NY rev (3m)3.74%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.52%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.93%
Valuation
Industry RankSector Rank
PE 8.86
Fwd PE 7.83
P/S 2.14
P/FCF 7.08
P/OCF 7.05
P/B 1.23
P/tB 1.28
EV/EBITDA N/A
EPS(TTM)5.5
EY11.29%
EPS(NY)6.22
Fwd EY12.76%
FCF(TTM)6.88
FCFY14.13%
OCF(TTM)6.91
OCFY14.19%
SpS22.8
BVpS39.49
TBVpS38.06
PEG (NY)1.4
PEG (5Y)0.62
Profitability
Industry RankSector Rank
ROA 1.32%
ROE 15.45%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 26.76%
GM N/A
FCFM 30.18%
ROA(3y)1.14%
ROA(5y)1.07%
ROE(3y)13.35%
ROE(5y)12.61%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-3.56%
PM growth 5Y2.46%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 0.96
Debt/EBITDA N/A
Cap/Depr 5.97%
Cap/Sales 0.12%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 112.78%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC17.9%
ROIC/WACCN/A
Cap/Depr(3y)54.8%
Cap/Depr(5y)36.58%
Cap/Sales(3y)1.56%
Cap/Sales(5y)1.05%
Profit Quality(3y)122.06%
Profit Quality(5y)125.54%
High Growth Momentum
Growth
EPS 1Y (TTM)26.73%
EPS 3Y7.95%
EPS 5Y14.26%
EPS Q2Q%26.92%
EPS Next Y6.31%
EPS Next 2Y9.14%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)6.64%
Revenue growth 3Y10.81%
Revenue growth 5Y10.46%
Sales Q2Q%12.58%
Revenue Next Year10.09%
Revenue Next 2Y9.62%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y15.91%
FCF growth 3Y17.17%
FCF growth 5Y14.77%
OCF growth 1Y9.94%
OCF growth 3Y16.9%
OCF growth 5Y14.68%