FBIZ

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First Business Financial Services, Inc.

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Key Metrics

Previous Close: $68.64
52-Week Range: $46.07 – $73.48
Market Cap: $575.82M
P/E (TTM): 10.51
EPS (TTM): 6.55
Dividend Yield: 1.98%

Advanced Metrics

Price/Book: 1.50
PEG Ratio: 1.24
Return on Equity: 15.00%
Return on Assets: 1.32%
Gross Margin: 0.00%
Operating Margin: 39.46%
Profit Margin: 32.76%
Current Ratio: —
Debt/Equity: —
Total Debt: $393.22M
Free Cash Flow: —
Revenue Growth: 16.50%
Earnings Growth: 36.30%
Enterprise Value: $901.96M

FBIZ Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$127.85M	$143.90M	$153.46M	$168.63M
Selling, General & Admin	$61.14M	$66.19M	$69.38M	$74.95M
Pretax Income	$52.24M	$47.14M	$51.15M	$60.45M
Income Tax	$11.39M	$10.11M	$6.91M	$10.13M
Net Income	$40.86M	$37.03M	$44.24M	$50.32M
Diluted EPS	4.75	4.33	5.20	5.94
Diluted Shares	8.23M	8.13M	8.15M	8.16M

FBIZ Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$102.68M	$139.51M	$157.70M	$39.48M
Receivables	$9.40M	$13.28M	$12.88M	$13.10M
Total Assets	$2.98B	$3.51B	$3.85B	$4.08B
Long-Term Debt	$456.81M	$330.92M	$320.05M	$252.05M
Total Debt	$466.98M	$339.87M	$327.98M	$259.41M
Total Liabilities	$2.72B	$3.22B	$3.52B	$3.71B
Retained Earnings	$203.51M	$230.73M	$265.78M	$305.54M
Shareholders' Equity	$260.64M	$289.59M	$328.59M	$371.58M
Net Debt	$354.13M	$191.41M	$162.35M	$212.57M

FBIZ Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$38.65M	$52.29M	$57.49M	$61.70M
Capital Expenditure	-$3.22M	-$2.88M	-$223.00K	-$595.00K
Free Cash Flow	$35.42M	$49.41M	$57.27M	$61.10M
Depreciation & Amortisation	$4.07M	$3.64M	$3.74M	$3.77M
Stock-Based Compensation	$2.58M	$2.98M	$2.79M	$2.80M
Investing Cash Flow	-$245.27M	-$506.85M	-$328.47M	-$373.38M
Financing Cash Flow	$252.19M	$491.38M	$289.17M	$193.47M
Dividends Paid	-$7.37M	-$8.45M	-$9.20M	-$10.56M
Share Repurchases	-$6.13M	-$2.97M	-$1.27M	-$1.39M
Net Change in Cash	$45.57M	$36.83M	$18.19M	-$118.22M

FBIZ Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$41.04M	$44.53M	$42.22M	$44.29M	—
Selling, General & Admin	$18.43M	$19.14M	$18.89M	$20.16M	—
Pretax Income	$13.37M	$17.39M	$16.24M	$14.38M	—
Income Tax	$1.95M	$2.99M	$2.90M	$2.18M	—
Net Income	$11.42M	$14.39M	$13.33M	$12.20M	—
Diluted EPS	1.35	1.70	1.58	1.44	1.84
Diluted Shares	8.14M	8.17M	8.17M	8.19M	8.21M

FBIZ Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$170.62M	$123.21M	$44.35M	$39.48M	$137.13M
Receivables	$13.07M	$13.10M	$13.73M	$13.10M	$13.23M
Total Assets	$3.94B	$4.00B	$4.03B	$4.08B	$4.32B
Long-Term Debt	$286.59M	$276.13M	$266.68M	$252.05M	$303.45M
Total Debt	$294.19M	$284.02M	$274.36M	$259.41M	$310.48M
Total Liabilities	$3.61B	$3.66B	$3.68B	$3.71B	$3.94B
Retained Earnings	$274.29M	$283.08M	$294.84M	$305.54M	$314.62M
Shareholders' Equity	$336.06M	$344.80M	$358.32M	$371.58M	$380.08M
Net Debt	$115.97M	$152.92M	$222.33M	$212.57M	$166.33M

FBIZ Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$11.30M	$15.85M	$18.41M	$16.14M	$3.05M
Capital Expenditure	-$80.00K	-$330.00K	-$146.00K	-$39.00K	-$135.00K
Free Cash Flow	$11.22M	$15.52M	$18.26M	$16.10M	$2.92M
Depreciation & Amortisation	$871.00K	$950.00K	$1.00M	$950.00K	$929.00K
Stock-Based Compensation	$651.00K	$926.00K	$584.00K	$639.00K	$647.00K
Investing Cash Flow	-$97.43M	-$111.79M	-$113.05M	-$51.11M	-$138.50M
Financing Cash Flow	$99.04M	$48.54M	$15.79M	$30.10M	$233.09M
Dividends Paid	-$2.66M	-$2.63M	-$2.63M	-$2.63M	-$3.12M
Share Repurchases	-$777.00K	-$586.00K	-$11.00K	-$16.00K	-$811.00K
Net Change in Cash	$12.91M	-$47.41M	-$78.86M	-$4.86M	$97.64M

Market Snapshot

About

First Business Financial Services, Inc. is a bank holding company providing commercial banking services to small and medium-sized businesses, business owners, and high net worth individuals. The company offers a full range of commercial lending products including working capital loans, equipment financing, real estate loans, and treasury management services. First Business Financial operates primarily in Wisconsin and Kansas, focusing on relationship banking and personalized service for business clients. The company also provides wealth management, retirement plan administration, and trust services through its specialized divisions.