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FIRST BUSINESS FINANCIAL SER (FBIZ) Stock Fundamental Analysis

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

49.34  -0.45 (-0.9%)

After market: 49.34 0 (0%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to FBIZ. FBIZ was compared to 393 industry peers in the Banks industry. While FBIZ is still in line with the averages on profitability rating, there are concerns on its financial health. FBIZ scores decently on growth, while it is valued quite cheap. This could make an interesting combination.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year FBIZ was profitable.
In the past year FBIZ had a positive cash flow from operations.
FBIZ had positive earnings in each of the past 5 years.
In the past 5 years FBIZ always reported a positive cash flow from operatings.
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

With a decent Return On Assets value of 1.14%, FBIZ is doing good in the industry, outperforming 75.57% of the companies in the same industry.
FBIZ has a Return On Equity of 13.24%. This is amongst the best in the industry. FBIZ outperforms 87.79% of its industry peers.
Industry RankSector Rank
ROA 1.14%
ROE 13.24%
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

Looking at the Profit Margin, with a value of 28.33%, FBIZ is in the better half of the industry, outperforming 76.34% of the companies in the same industry.
In the last couple of years the Profit Margin of FBIZ has grown nicely.
The Operating Margin and Gross Margin are not available for FBIZ so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 28.33%
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
Compared to 5 years ago, FBIZ has less shares outstanding
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 0.87, which is an excellent value as it means it would take FBIZ, only 0.87 years of fcf income to pay off all of its debts.
FBIZ's Debt to FCF ratio of 0.87 is fine compared to the rest of the industry. FBIZ outperforms 76.59% of its industry peers.
FBIZ has a Debt/Equity ratio of 0.16. This is a healthy value indicating a solid balance between debt and equity.
FBIZ has a Debt to Equity ratio (0.16) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.16
Debt/FCF 0.87
Altman-Z N/A
ROIC/WACCN/A
WACC17.87%
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 22.44%, which is quite impressive.
The Earnings Per Share has been growing by 14.26% on average over the past years. This is quite good.
FBIZ shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -12.52%.
Measured over the past years, FBIZ shows a quite strong growth in Revenue. The Revenue has been growing by 10.46% on average per year.
EPS 1Y (TTM)22.44%
EPS 3Y7.95%
EPS 5Y14.26%
EPS Q2Q%9.76%
Revenue 1Y (TTM)-12.52%
Revenue growth 3Y10.81%
Revenue growth 5Y10.46%
Sales Q2Q%8.1%

3.2 Future

The Earnings Per Share is expected to grow by 8.93% on average over the next years. This is quite good.
FBIZ is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.55% yearly.
EPS Next Y6.35%
EPS Next 2Y8.93%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year10.4%
Revenue Next 2Y9.32%
Revenue Next 3Y8.55%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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 2027 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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7

4. Valuation

4.1 Price/Earnings Ratio

FBIZ is valuated reasonably with a Price/Earnings ratio of 8.78.
Compared to the rest of the industry, the Price/Earnings ratio of FBIZ indicates a rather cheap valuation: FBIZ is cheaper than 89.31% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.76, FBIZ is valued rather cheaply.
A Price/Forward Earnings ratio of 7.97 indicates a rather cheap valuation of FBIZ.
Compared to the rest of the industry, the Price/Forward Earnings ratio of FBIZ indicates a rather cheap valuation: FBIZ is cheaper than 82.95% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 34.91. FBIZ is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 8.78
Fwd PE 7.97
FBIZ Price Earnings VS Forward Price EarningsFBIZ Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

FBIZ's Price/Free Cash Flow ratio is rather cheap when compared to the industry. FBIZ is cheaper than 86.51% of the companies in the same industry.
Industry RankSector Rank
P/FCF 6.51
EV/EBITDA N/A
FBIZ Per share dataFBIZ EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

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)1.38
PEG (5Y)0.62
EPS Next 2Y8.93%
EPS Next 3YN/A

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5

5. Dividend

5.1 Amount

FBIZ has a Yearly Dividend Yield of 2.33%.
Compared to an average industry Dividend Yield of 3.41, FBIZ is paying slightly less dividend.
FBIZ's Dividend Yield is comparable with the S&P500 average which is at 2.36.
Industry RankSector Rank
Dividend Yield 2.33%

5.2 History

On average, the dividend of FBIZ grows each year by 13.04%, which is quite nice.
FBIZ has paid a dividend for at least 10 years, which is 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

21.67% of the earnings are spent on dividend by FBIZ. This is a low number and sustainable payout ratio.
The dividend of FBIZ is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP21.67%
EPS Next 2Y8.93%
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 (8/21/2025, 4:12:38 PM)

After market: 49.34 0 (0%)

49.34

-0.45 (-0.9%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)07-24 2025-07-24/amc
Earnings (Next)10-22 2025-10-22/amc
Inst Owners69.86%
Inst Owner Change0.1%
Ins Owners3.17%
Ins Owner Change4.16%
Market Cap410.51M
Analysts83.64
Price Target59.36 (20.31%)
Short Float %0.82%
Short Ratio1.28
Dividend
Industry RankSector Rank
Dividend Yield 2.33%
Yearly Dividend1.11
Dividend Growth(5Y)13.04%
DP21.67%
Div Incr Years12
Div Non Decr Years19
Ex-Date08-11 2025-08-11 (0.29)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.67%
Min EPS beat(2)-0.47%
Max EPS beat(2)1.82%
EPS beat(4)3
Avg EPS beat(4)8.76%
Min EPS beat(4)-0.47%
Max EPS beat(4)31.78%
EPS beat(8)4
Avg EPS beat(8)4.29%
EPS beat(12)6
Avg EPS beat(12)4.34%
EPS beat(16)10
Avg EPS beat(16)7.97%
Revenue beat(2)0
Avg Revenue beat(2)-1.69%
Min Revenue beat(2)-3.17%
Max Revenue beat(2)-0.22%
Revenue beat(4)1
Avg Revenue beat(4)-1.12%
Min Revenue beat(4)-3.74%
Max Revenue beat(4)2.66%
Revenue beat(8)2
Avg Revenue beat(8)5.79%
Revenue beat(12)5
Avg Revenue beat(12)4.32%
Revenue beat(16)7
Avg Revenue beat(16)3.16%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)1.06%
EPS NQ rev (3m)-0.8%
EPS NY rev (1m)0%
EPS NY rev (3m)0.07%
Revenue NQ rev (1m)-0.24%
Revenue NQ rev (3m)-0.06%
Revenue NY rev (1m)-0.35%
Revenue NY rev (3m)-0.35%
Valuation
Industry RankSector Rank
PE 8.78
Fwd PE 7.97
P/S 2.55
P/FCF 6.51
P/OCF 6.53
P/B 1.19
P/tB 1.23
EV/EBITDA N/A
EPS(TTM)5.62
EY11.39%
EPS(NY)6.19
Fwd EY12.55%
FCF(TTM)7.58
FCFY15.36%
OCF(TTM)7.56
OCFY15.32%
SpS19.36
BVpS41.44
TBVpS39.99
PEG (NY)1.38
PEG (5Y)0.62
Profitability
Industry RankSector Rank
ROA 1.14%
ROE 13.24%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 28.33%
GM N/A
FCFM 39.15%
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-Score7
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.16
Debt/FCF 0.87
Debt/EBITDA N/A
Cap/Depr 4.3%
Cap/Sales 0.1%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 138.2%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score7
WACC17.87%
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)22.44%
EPS 3Y7.95%
EPS 5Y14.26%
EPS Q2Q%9.76%
EPS Next Y6.35%
EPS Next 2Y8.93%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-12.52%
Revenue growth 3Y10.81%
Revenue growth 5Y10.46%
Sales Q2Q%8.1%
Revenue Next Year10.4%
Revenue Next 2Y9.32%
Revenue Next 3Y8.55%
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 1Y56.42%
FCF growth 3Y17.17%
FCF growth 5Y14.77%
OCF growth 1Y41.9%
OCF growth 3Y16.9%
OCF growth 5Y14.68%