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FS BANCORP INC (FSBW) Stock Fundamental Analysis

NASDAQ:FSBW - Nasdaq - US30263Y1047 - Common Stock - Currency: USD

40.32  -0.74 (-1.8%)

Fundamental Rating

4

FSBW gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 393 industry peers in the Banks industry. While FSBW is still in line with the averages on profitability rating, there are concerns on its financial health. FSBW is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

In the past year FSBW was profitable.
In the past year FSBW had a positive cash flow from operations.
In the past 5 years FSBW has always been profitable.
Of the past 5 years FSBW 4 years had a positive operating cash flow.
FSBW Yearly Net Income VS EBIT VS OCF VS FCFFSBW 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 0 50M 100M 150M

1.2 Ratios

FSBW has a Return On Assets of 1.38%. This is amongst the best in the industry. FSBW outperforms 87.53% of its industry peers.
FSBW's Return On Equity of 14.17% is amongst the best of the industry. FSBW outperforms 90.33% of its industry peers.
Industry RankSector Rank
ROA 1.38%
ROE 14.17%
ROIC N/A
ROA(3y)1.15%
ROA(5y)1.38%
ROE(3y)12.54%
ROE(5y)13.9%
ROIC(3y)N/A
ROIC(5y)N/A
FSBW Yearly ROA, ROE, ROICFSBW 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 23.42%, FSBW is in line with its industry, outperforming 49.36% of the companies in the same industry.
FSBW's Profit Margin has been stable in the last couple of years.
The Operating Margin and Gross Margin are not available for FSBW so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 23.42%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-7.05%
PM growth 5Y-0.34%
GM growth 3YN/A
GM growth 5YN/A
FSBW Yearly Profit, Operating, Gross MarginsFSBW Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

3

2. Health

2.1 Basic Checks

FSBW does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, FSBW has more shares outstanding
The number of shares outstanding for FSBW has been reduced compared to 5 years ago.
The debt/assets ratio for FSBW has been reduced compared to a year ago.
FSBW Yearly Shares OutstandingFSBW Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M
FSBW Yearly Total Debt VS Total AssetsFSBW 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 FSBW is 0.87, which is an excellent value as it means it would take FSBW, only 0.87 years of fcf income to pay off all of its debts.
FSBW's Debt to FCF ratio of 0.87 is fine compared to the rest of the industry. FSBW outperforms 77.35% of its industry peers.
FSBW has a Debt/Equity ratio of 0.17. This is a healthy value indicating a solid balance between debt and equity.
FSBW has a Debt to Equity ratio (0.17) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 0.87
Altman-Z N/A
ROIC/WACCN/A
WACC7.51%
FSBW Yearly LT Debt VS Equity VS FCFFSBW Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
FSBW Yearly Current Assets VS Current LiabilitesFSBW Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 2024 2M 4M 6M

4

3. Growth

3.1 Past

FSBW shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -7.47%.
FSBW shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 11.79% yearly.
FSBW shows a small growth in Revenue. In the last year, the Revenue has grown by 0.60%.
The Revenue has been growing by 9.17% on average over the past years. This is quite good.
EPS 1Y (TTM)-7.47%
EPS 3Y0.77%
EPS 5Y11.79%
EPS Q2Q%-12.39%
Revenue 1Y (TTM)0.6%
Revenue growth 3Y5.24%
Revenue growth 5Y9.17%
Sales Q2Q%2.79%

3.2 Future

The Earnings Per Share is expected to grow by 1.80% on average over the next years.
The Revenue is expected to grow by 5.82% on average over the next years.
EPS Next Y-5.96%
EPS Next 2Y1.8%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year5.87%
Revenue Next 2Y5.61%
Revenue Next 3Y5.82%
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 decreasing.
FSBW Yearly Revenue VS EstimatesFSBW Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 50M 100M 150M
FSBW Yearly EPS VS EstimatesFSBW Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3 4

6

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 9.58, the valuation of FSBW can be described as very reasonable.
Compared to the rest of the industry, the Price/Earnings ratio of FSBW indicates a rather cheap valuation: FSBW is cheaper than 84.99% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.93. FSBW is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 8.84, which indicates a very decent valuation of FSBW.
Based on the Price/Forward Earnings ratio, FSBW is valued a bit cheaper than the industry average as 72.01% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 37.78, FSBW is valued rather cheaply.
Industry RankSector Rank
PE 9.58
Fwd PE 8.84
FSBW Price Earnings VS Forward Price EarningsFSBW Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, FSBW is valued cheaper than 90.33% of the companies in the same industry.
Industry RankSector Rank
P/FCF 5.44
EV/EBITDA N/A
FSBW Per share dataFSBW EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)0.81
EPS Next 2Y1.8%
EPS Next 3YN/A

6

5. Dividend

5.1 Amount

FSBW has a Yearly Dividend Yield of 2.70%. Purely for dividend investing, there may be better candidates out there.
FSBW's Dividend Yield is comparable with the industry average which is at 3.40.
Compared to an average S&P500 Dividend Yield of 2.32, FSBW has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.7%

5.2 History

On average, the dividend of FSBW grows each year by 26.69%, which is quite nice.
FSBW has paid a dividend for at least 10 years, which is a reliable track record.
FSBW has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)26.69%
Div Incr Years11
Div Non Decr Years11
FSBW Yearly Dividends per shareFSBW 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 1

5.3 Sustainability

FSBW pays out 19.89% of its income as dividend. This is a sustainable payout ratio.
The dividend of FSBW is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP19.89%
EPS Next 2Y1.8%
EPS Next 3YN/A
FSBW Yearly Income VS Free CF VS DividendFSBW Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M
FSBW Dividend Payout.FSBW Dividend Payout, showing the Payout Ratio.FSBW Dividend Payout.PayoutRetained Earnings

FS BANCORP INC

NASDAQ:FSBW (7/28/2025, 8:00:00 PM)

40.32

-0.74 (-1.8%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)07-22 2025-07-22/amc
Earnings (Next)10-20 2025-10-20/amc
Inst Owners70.37%
Inst Owner Change-0.05%
Ins Owners9.17%
Ins Owner Change0.65%
Market Cap310.46M
Analysts80
Price Target44.37 (10.04%)
Short Float %1.32%
Short Ratio5.37
Dividend
Industry RankSector Rank
Dividend Yield 2.7%
Yearly Dividend1.06
Dividend Growth(5Y)26.69%
DP19.89%
Div Incr Years11
Div Non Decr Years11
Ex-Date08-07 2025-08-07 (0.28)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-3.73%
Min EPS beat(2)-13.55%
Max EPS beat(2)6.09%
EPS beat(4)3
Avg EPS beat(4)2.94%
Min EPS beat(4)-13.55%
Max EPS beat(4)10.62%
EPS beat(8)5
Avg EPS beat(8)3.59%
EPS beat(12)7
Avg EPS beat(12)2.48%
EPS beat(16)10
Avg EPS beat(16)4.07%
Revenue beat(2)0
Avg Revenue beat(2)-2.72%
Min Revenue beat(2)-3.65%
Max Revenue beat(2)-1.78%
Revenue beat(4)2
Avg Revenue beat(4)-1.05%
Min Revenue beat(4)-3.65%
Max Revenue beat(4)0.73%
Revenue beat(8)4
Avg Revenue beat(8)-1.01%
Revenue beat(12)8
Avg Revenue beat(12)0.03%
Revenue beat(16)10
Avg Revenue beat(16)0.28%
PT rev (1m)0%
PT rev (3m)-2.25%
EPS NQ rev (1m)-0.17%
EPS NQ rev (3m)-6.75%
EPS NY rev (1m)0.33%
EPS NY rev (3m)-2.48%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.52%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)0.07%
Valuation
Industry RankSector Rank
PE 9.58
Fwd PE 8.84
P/S 1.72
P/FCF 5.44
P/OCF 5.29
P/B 1.04
P/tB 1.14
EV/EBITDA N/A
EPS(TTM)4.21
EY10.44%
EPS(NY)4.56
Fwd EY11.31%
FCF(TTM)7.41
FCFY18.39%
OCF(TTM)7.63
OCFY18.91%
SpS23.48
BVpS38.81
TBVpS35.51
PEG (NY)N/A
PEG (5Y)0.81
Profitability
Industry RankSector Rank
ROA 1.38%
ROE 14.17%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 23.42%
GM N/A
FCFM 31.58%
ROA(3y)1.15%
ROA(5y)1.38%
ROE(3y)12.54%
ROE(5y)13.9%
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-7.05%
PM growth 5Y-0.34%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 0.87
Debt/EBITDA N/A
Cap/Depr 16.17%
Cap/Sales 0.9%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 134.85%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC7.51%
ROIC/WACCN/A
Cap/Depr(3y)13.37%
Cap/Depr(5y)12.71%
Cap/Sales(3y)1.2%
Cap/Sales(5y)1.26%
Profit Quality(3y)328.97%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-7.47%
EPS 3Y0.77%
EPS 5Y11.79%
EPS Q2Q%-12.39%
EPS Next Y-5.96%
EPS Next 2Y1.8%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)0.6%
Revenue growth 3Y5.24%
Revenue growth 5Y9.17%
Sales Q2Q%2.79%
Revenue Next Year5.87%
Revenue Next 2Y5.61%
Revenue Next 3Y5.82%
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 1Y-44.62%
FCF growth 3Y-22.82%
FCF growth 5Y48.99%
OCF growth 1Y-44.34%
OCF growth 3Y-22.46%
OCF growth 5Y40.75%