FBIZNasdaqState Commercial BanksFiscal year ends December 31
FIRST BUSINESS FINANCIAL SERVICES, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$69.80−0.72 (-1.02%)
Close on Oct 19, 2026
- Market cap
- $572.92M
- P/E (TTM)
- 10.6
- Dividend yield
- 1.66%
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
29.8%+13.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +9.9% | +9.7% | +10.1% | +8.3% | |
| Net income | +13.7% | +7.2% | +24.3% | +11.8% | |
| EPS, diluted | +14.2% | +7.7% | +24.7% | +12.1% | |
| Free cash flow | +6.7% | +19.9% | +18.3% | +10.5% | |
| Dividend per share | +16.0% | +13.7% | +11.9% | +10.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 9.5% | 8.5% | 14.4% | |
| Return on assets | 0.8% | 0.7% | 1.3% | |
| Capex to revenue | 0.7% | 0.3% | 0.4% | |
| Diluted shares | 9M | 8M | 8M |
Where the cash went
Fiscal 2021 to 2025, five years combined
First Business Financial Services generated $246.12M from operations and spent $62.99M on capital expenditure, dividends and share buybacks. 12% of that went back into the business.
Generated
$246.12M
Used
$62.99M
Capital expenditure$7.32M12%Dividends$38.44M61%Share buybacks$17.24M27%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin29.8%
×Asset turnover0.04×
×Equity multiplier11.33×
=Return on equity, FY202514.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 29.8% | 0.04× | 11.33× | 14.4% |
| FY2024 | 28.8% | 0.04× | 11.91× | 14.3% |
| FY2023 | 25.7% | 0.04× | 11.79× | 13.5% |
| FY2022 | 32.0% | 0.05× | 11.42× | 16.6% |
| FY2021 | 31.7% | 0.04× | 11.90× | 16.3% |
| FY2020 | 16.3% | 0.04× | 11.65× | 8.5% |
| FY2019 | 25.0% | 0.05× | 10.84× | 12.4% |
| FY2018 | 19.1% | 0.05× | 10.74× | 9.3% |
| FY2017 | 15.4% | 0.04× | 10.80× | 7.2% |
| FY2016 | 18.3% | 0.05× | 11.40× | 9.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$50.32M
- Cash generatingOperating cash flow above zero$61.70M
- Return on assets improvedROA up on the prior year1.3% → 1.3%
- Earnings backed by cashOperating cash flow above net income$61.70M vs $50.32M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise8M → 8M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.04 → 0.04