First Business Financial Services (FBIZ) Financials

$46.88 +0.42 (+0.90%)

As of 02:08 PM Eastern

Annual Income Statements for First Business Financial Services

This table shows First Business Financial Services' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	36	40	36	43
Consolidated Net Income / (Loss)	36	41	37	44
Net Income / (Loss) Continuing Operations	36	41	37	44
Total Pre-Tax Income	47	52	47	51
Total Revenue	113	128	144	153
Net Interest Income / (Expense)	85	98	113	124
Total Interest Income	96	121	195	233
Loans and Leases Interest Income	92	115	183	217
Investment Securities Interest Income	3.41	4.47	8.20	12
Deposits and Money Market Investments Interest Income	0.74	1.53	4.08	4.32
Total Interest Expense	11	23	82	109
Deposits Interest Expense	3.55	13	71	98
Long-Term Debt Interest Expense	7.78	9.77	11	11
Total Non-Interest Income	28	29	31	29
Other Service Charges	12	14	16	12
Net Realized & Unrealized Capital Gains on Investments	4.07	2.54	2.01	1.93
Investment Banking Income	11	11	11	13
Other Non-Interest Income	1.41	2.23	1.49	1.65
Provision for Credit Losses	-5.80	-3.87	8.18	8.83
Total Non-Interest Expense	72	79	89	93
Salaries and Employee Benefits	52	58	61	63
Net Occupancy & Equipment Expense	6.26	6.65	7.55	8.58
Marketing Expense	2.02	2.35	2.89	3.52
Property & Liability Insurance Claims	1.14	1.04	2.24	2.76
Other Operating Expenses	10	12	15	16
Income Tax Expense	11	11	10	6.91
Preferred Stock Dividends Declared	0.00	0.68	0.88	0.88
Basic Earnings per Share	$4.17	$4.75	$4.33	$5.20
Weighted Average Basic Shares Outstanding	8.31M	8.35M	-	8.30M
Diluted Earnings per Share	$4.17	$4.75	$4.33	$5.20
Weighted Average Diluted Shares Outstanding	8.31M	8.35M	-	8.30M
Weighted Average Basic & Diluted Shares Outstanding	8.31M	8.35M	-	8.30M
Cash Dividends to Common per Share	$0.72	$0.79	$0.91	$1.00

This table shows First Business Financial Services' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	11	9.94	8.76	8.12	9.72	9.55	8.63	10	10	14
Consolidated Net Income / (Loss)	11	10	8.98	8.34	9.94	9.77	8.85	10	11	14
Net Income / (Loss) Continuing Operations	11	10	8.98	8.34	9.94	9.77	8.85	10	11	14
Total Pre-Tax Income	14	13	12	11	12	12	11	12	13	15
Total Revenue	34	34	35	35	37	37	36	38	38	41
Net Interest Income / (Expense)	26	27	27	28	29	30	30	31	31	33
Total Interest Income	32	38	42	47	51	55	56	58	59	60
Loans and Leases Interest Income	30	36	40	44	48	51	52	54	56	56
Investment Securities Interest Income	1.17	1.27	1.59	1.81	2.20	2.60	2.79	3.05	2.98	3.09
Deposits and Money Market Investments Interest Income	0.45	0.62	0.66	1.07	0.88	1.47	1.44	0.97	0.85	1.07
Total Interest Expense	5.90	11	15	19	22	25	26	27	28	27
Deposits Interest Expense	3.18	8.17	12	17	20	23	24	25	25	24
Long-Term Debt Interest Expense	2.72	2.69	2.93	2.87	2.54	2.58	2.44	2.69	3.03	2.84
Total Non-Interest Income	8.20	6.97	8.41	7.37	8.43	7.09	6.76	7.43	7.06	8.01
Other Service Charges	4.49	2.97	4.91	3.72	4.26	3.49	3.05	3.21	2.92	3.22
Net Realized & Unrealized Capital Gains on Investments	0.73	0.27	0.48	0.40	0.85	0.28	0.19	0.35	0.46	0.94
Investment Banking Income	2.62	2.57	2.65	2.89	2.95	2.93	3.11	3.46	3.26	3.43
Other Non-Interest Income	0.36	1.17	0.37	0.36	0.38	0.39	0.41	0.40	0.42	0.42
Provision for Credit Losses	0.01	0.70	1.56	2.23	1.82	2.57	2.33	1.71	2.09	2.70
Total Non-Interest Expense	20	21	22	22	23	22	23	24	23	23
Salaries and Employee Benefits	15	15	16	15	16	14	16	16	15	16
Net Occupancy & Equipment Expense	1.54	1.83	1.80	2.02	1.88	1.85	1.97	2.11	1.96	2.54
Marketing Expense	0.54	0.64	0.63	0.78	0.76	0.72	0.82	0.85	0.92	0.93
Property & Liability Insurance Claims	0.23	0.20	0.39	0.58	0.68	0.58	0.61	0.61	0.81	0.73
Other Operating Expenses	2.90	3.22	3.04	3.52	4.30	3.98	3.79	4.09	4.21	3.43
Income Tax Expense	3.22	2.40	2.81	2.52	2.08	2.70	1.75	1.92	2.35	0.89
Preferred Stock Dividends Declared	0.22	0.22	0.22	0.22	0.22	0.22	0.22	0.22	0.22	0.22
Basic Earnings per Share	$1.25	$1.19	$1.05	$0.98	$1.17	$1.13	$1.04	$1.23	$1.24	$1.69
Weighted Average Basic Shares Outstanding	8.43M	8.35M	8.29M	8.32M	8.31M	0.00	8.29M	8.29M	8.30M	8.30M
Diluted Earnings per Share	$1.25	$1.19	$1.05	$0.98	$1.17	$1.13	$1.04	$1.23	$1.24	$1.69
Weighted Average Diluted Shares Outstanding	8.43M	8.35M	8.29M	8.32M	8.31M	0.00	8.29M	8.29M	8.30M	8.30M
Weighted Average Basic & Diluted Shares Outstanding	8.43M	8.35M	8.29M	8.32M	8.31M	0.00	8.29M	8.29M	8.30M	8.30M
Cash Dividends to Common per Share	$0.20	$0.20	$0.23	$0.23	$0.23	$0.23	$0.25	$0.25	$0.25	$0.25

This table details how cash moves in and out of First Business Financial Services' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Net Change in Cash & Equivalents	0.20	46	37	18
Net Cash From Operating Activities	36	39	52	57
Net Cash From Continuing Operating Activities	36	39	52	57
Net Income / (Loss) Continuing Operations	36	41	37	44
Consolidated Net Income / (Loss)	36	41	37	44
Provision For Loan Losses	-5.80	-3.87	8.18	8.83
Depreciation Expense	3.55	4.07	3.64	3.74
Amortization Expense	-	1.04	4.05	5.99
Non-Cash Adjustments to Reconcile Net Income	6.53	-0.74	5.42	-8.66
Changes in Operating Assets and Liabilities, net	-4.04	-2.70	-6.03	3.35
Net Cash From Investing Activities	-111	-245	-507	-328
Net Cash From Continuing Investing Activities	-111	-245	-507	-328
Purchase of Property, Leasehold Improvements and Equipment	-	-3.22	-2.88	-0.22
Purchase of Investment Securities	-192	-334	-573	-458
Sale of Property, Leasehold Improvements and Equipment	-	0.00	0.00	0.03
Sale and/or Maturity of Investments	80	92	69	129
Other Investing Activities, net	0.06	-0.05	-0.02	-0.03
Net Cash From Financing Activities	75	252	491	289
Net Cash From Continuing Financing Activities	75	252	491	289
Net Change in Deposits	102	210	629	310
Issuance of Debt	798	2,437	1,573	1,153
Issuance of Preferred Equity	0.00	12	0.00	0.00
Issuance of Common Equity	0.16	0.13	0.13	0.14
Repayment of Debt	-814	-2,394	-1,699	-1,163
Repurchase of Common Equity	-5.48	-6.13	-2.97	-1.27
Payment of Dividends	-6.17	-7.37	-8.45	-9.20
Cash Interest Paid	13	20	76	110
Cash Income Taxes Paid	15	8.04	7.46	0.16

This table details how cash moves in and out of First Business Financial Services' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	15	-8.28	83	-73	20	6.60	-67	9.04	51	26
Net Cash From Operating Activities	15	7.26	9.91	13	16	13	8.68	13	14	22
Net Cash From Continuing Operating Activities	15	7.26	9.91	13	16	13	8.68	13	14	22
Net Income / (Loss) Continuing Operations	11	10	8.98	8.34	9.94	9.77	8.85	10	11	14
Consolidated Net Income / (Loss)	11	10	8.98	8.34	9.94	9.77	8.85	10	11	14
Provision For Loan Losses	0.01	0.70	1.56	2.23	1.82	2.57	2.33	1.71	2.09	2.70
Depreciation Expense	1.06	0.98	0.91	0.96	0.97	0.80	0.79	0.98	0.95	1.02
Amortization Expense	0.55	0.48	0.44	0.43	2.01	1.17	1.30	1.30	1.30	2.10
Non-Cash Adjustments to Reconcile Net Income	0.39	-0.75	1.99	2.87	-3.09	3.66	2.71	-2.64	-1.65	-7.09
Changes in Operating Assets and Liabilities, net	1.77	-4.32	-3.97	-2.28	4.86	-4.63	-7.29	1.24	0.58	8.81
Net Cash From Investing Activities	-38	-128	-116	-163	-116	-111	-83	-77	-67	-102
Net Cash From Continuing Investing Activities	-38	-128	-116	-163	-116	-111	-83	-77	-67	-102
Purchase of Property, Leasehold Improvements and Equipment	-	-	-	-	-1.32	-0.31	-	-	0.62	-0.04
Purchase of Investment Securities	-70	-144	-138	-185	-130	-120	-103	-110	-105	-140
Sale and/or Maturity of Investments	32	19	22	24	15	8.93	20	33	38	38
Other Investing Activities, net	0.19	-0.52	0.00	0.03	-	-0.06	0.06	0.07	-	-0.16
Net Cash From Financing Activities	38	113	190	77	120	105	6.58	73	104	106
Net Cash From Continuing Financing Activities	38	113	190	77	120	105	6.58	73	104	106
Net Change in Deposits	218	81	309	52	128	140	-41	130	85	137
Issuance of Debt	589	414	695	446	302	130	146	334	461	211
Issuance of Common Equity	0.03	0.03	0.03	0.03	0.03	0.04	0.03	0.03	0.03	0.05
Repayment of Debt	-765	-378	-810	-418	-308	-162	-95	-388	-440	-240
Repurchase of Common Equity	-1.53	-2.62	-1.86	-1.07	-0.02	-0.02	-0.58	-0.67	-0.01	-0.01
Payment of Dividends	-1.89	-1.88	-2.13	-2.11	-2.11	-2.11	-2.31	-2.30	-2.30	-2.30
Cash Interest Paid	5.38	9.03	13	17	21	24	26	27	29	28
Cash Income Taxes Paid	3.29	4.78	-0.01	1.20	3.83	2.43	0.01	0.39	0.46	-0.70

This table presents First Business Financial Services' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Total Assets	3,508	2,977	3,508	3,853
Cash and Due from Banks	32	26	32	29
Interest Bearing Deposits at Other Banks	107	77	107	128
Trading Account Securities	361	293	361	414
Loans and Leases, Net of Allowance	0.00	0.00	2,819	3,077
Loans Held for Sale	2,824	2,421	4.59	13
Premises and Equipment, Net	6.19	4.34	6.19	5.23
Intangible Assets	12	12	12	12
Other Assets	165	143	165	174
Total Liabilities & Shareholders' Equity	3,508	2,977	3,508	3,853
Total Liabilities	3,218	2,716	3,218	3,525
Non-Interest Bearing Deposits	2,797	2,168	2,797	3,107
Long-Term Debt	331	457	331	320
Other Long-Term Liabilities	91	91	91	97
Total Equity & Noncontrolling Interests	290	261	290	329
Total Preferred & Common Equity	290	261	290	329
Preferred Stock	12	12	12	12
Total Common Equity	278	249	278	317
Common Stock	91	88	91	94
Retained Earnings	231	204	231	266
Treasury Stock	-30	-27	-30	-31
Accumulated Other Comprehensive Income / (Loss)	-14	-15	-14	-11

This table presents First Business Financial Services' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	2,851	3,164	3,266	3,419	3,531	3,617	3,716
Cash and Due from Banks	24	212	32	23	25	26	45
Interest Bearing Deposits at Other Banks	87	160	81	110	47	55	87
Trading Account Securities	284	303	334	375	392	387	363
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	2,952	3,016
Loans Held for Sale	2,307	2.70	2,649	2,739	2,883	6.51	8.17
Premises and Equipment, Net	3.14	4.93	5.09	6.16	6.27	6.38	5.48
Intangible Assets	12	12	12	12	12	12	12
Other Assets	133	142	153	154	166	172	179
Total Liabilities & Shareholders' Equity	2,851	3,164	3,266	3,419	3,531	3,617	3,716
Total Liabilities	2,598	2,507	2,993	3,138	3,234	3,312	3,404
Non-Interest Bearing Deposits	2,088	2,477	2,529	2,657	2,755	2,885	2,970
Long-Term Debt	420	-	370	364	382	328	349
Other Long-Term Liabilities	90	30	94	117	96	99	85
Total Equity & Noncontrolling Interests	253	267	273	281	298	305	312
Total Preferred & Common Equity	253	267	273	281	298	305	312
Preferred Stock	12	12	12	12	12	12	12
Total Common Equity	241	255	261	269	286	293	300
Common Stock	87	88	89	90	91	92	93
Retained Earnings	195	209	215	223	237	245	254
Treasury Stock	-25	-29	-30	-30	-31	-31	-31
Accumulated Other Comprehensive Income / (Loss)	-17	-14	-14	-14	-12	-13	-15

This table displays calculated financial ratios and metrics derived from First Business Financial Services' official financial filings.

Metric	2021	2022	2023	2024
Growth Metrics	-	-	-	-
Revenue Growth	8.41%	13.38%	12.55%	6.64%
EBITDA Growth	151.35%	4.80%	-4.39%	11.04%
EBIT Growth	156.92%	11.09%	-9.77%	8.51%
NOPAT Growth	110.60%	14.27%	-9.38%	19.49%
Net Income Growth	110.60%	14.27%	-9.38%	19.49%
EPS Growth	111.68%	13.91%	-8.84%	20.09%
Operating Cash Flow Growth	96.33%	7.37%	35.31%	9.94%
Free Cash Flow Firm Growth	153.40%	-210.75%	338.87%	-87.97%
Invested Capital Growth	-2.34%	15.62%	-13.51%	4.53%
Revenue Q/Q Growth	-0.72%	4.87%	1.56%	0.00%
EBITDA Q/Q Growth	17.55%	-3.20%	5.29%	0.00%
EBIT Q/Q Growth	9.63%	2.12%	-0.18%	0.00%
NOPAT Q/Q Growth	7.54%	3.98%	-1.03%	0.00%
Net Income Q/Q Growth	7.54%	3.98%	-1.03%	0.00%
EPS Q/Q Growth	8.31%	3.49%	-1.37%	0.00%
Operating Cash Flow Q/Q Growth	13.73%	-34.41%	13.15%	0.00%
Free Cash Flow Firm Q/Q Growth	-48.41%	-1,128.34%	102.79%	197.99%
Invested Capital Q/Q Growth	-1.42%	6.56%	-3.75%	-1.88%
Profitability Metrics	-	-	-	-
EBITDA Margin	48.53%	44.85%	38.10%	39.67%
EBIT Margin	41.71%	40.86%	32.76%	33.33%
Profit (Net Income) Margin	31.71%	31.96%	25.73%	28.83%
Tax Burden Percent	76.03%	78.21%	78.55%	86.50%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	23.97%	21.79%	21.45%	13.50%
Return on Invested Capital (ROIC)	5.69%	6.11%	5.53%	6.97%
ROIC Less NNEP Spread (ROIC-NNEP)	5.69%	6.11%	5.53%	6.97%
Return on Net Nonoperating Assets (RNNOA)	8.73%	8.74%	7.92%	7.34%
Return on Equity (ROE)	14.42%	14.85%	13.46%	14.31%
Cash Return on Invested Capital (CROIC)	8.06%	-8.38%	20.03%	2.54%
Operating Return on Assets (OROA)	1.55%	1.61%	1.45%	1.39%
Return on Assets (ROA)	1.18%	1.26%	1.14%	1.20%
Return on Common Equity (ROCE)	14.08%	14.20%	12.87%	13.76%
Return on Equity Simple (ROE_SIMPLE)	12.35%	15.68%	12.79%	13.47%
Net Operating Profit after Tax (NOPAT)	36	41	37	44
NOPAT Margin	31.71%	31.96%	25.73%	28.83%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	53.20%	52.20%	49.69%	49.01%
Operating Expenses to Revenue	63.44%	62.16%	61.55%	60.92%
Earnings before Interest and Taxes (EBIT)	47	52	47	51
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	55	57	55	61
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	0.82	1.17	1.16	1.21
Price to Tangible Book Value (P/TBV)	0.86	1.23	1.22	1.25
Price to Revenue (P/Rev)	2.02	2.27	2.25	2.49
Price to Earnings (P/E)	6.37	7.22	8.94	8.81
Dividend Yield	2.65%	2.30%	2.34%	2.17%
Earnings Yield	15.71%	13.84%	11.19%	11.36%
Enterprise Value to Invested Capital (EV/IC)	0.69	0.91	0.85	0.86
Enterprise Value to Revenue (EV/Rev)	3.82	5.13	3.66	3.62
Enterprise Value to EBITDA (EV/EBITDA)	7.88	11.45	9.60	9.14
Enterprise Value to EBIT (EV/EBIT)	9.17	12.56	11.17	10.87
Enterprise Value to NOPAT (EV/NOPAT)	12.06	16.06	14.22	12.57
Enterprise Value to Operating Cash Flow (EV/OCF)	8.24	16.98	10.07	9.68
Enterprise Value to Free Cash Flow (EV/FCFF)	8.51	0.00	3.93	34.53
Leverage & Solvency	-	-	-	-
Debt to Equity	1.14	1.75	1.14	0.97
Long-Term Debt to Equity	1.14	1.75	1.14	0.97
Financial Leverage	1.53	1.43	1.43	1.05
Leverage Ratio	12.26	11.79	11.79	11.91
Compound Leverage Factor	12.26	11.79	11.79	11.91
Debt to Total Capital	53.33%	63.67%	53.33%	49.34%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	53.33%	63.67%	53.33%	49.34%
Preferred Equity to Total Capital	1.93%	1.67%	1.93%	1.85%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	44.74%	34.66%	44.74%	48.81%
Debt to EBITDA	6.05	7.97	6.04	5.26
Net Debt to EBITDA	3.50	6.18	3.49	2.67
Long-Term Debt to EBITDA	6.05	7.97	6.04	5.26
Debt to NOPAT	9.26	11.18	8.94	7.23
Net Debt to NOPAT	5.35	8.67	5.17	3.67
Long-Term Debt to NOPAT	9.26	11.18	8.94	7.23
Noncontrolling Interest Sharing Ratio	2.42%	4.36%	4.36%	3.88%
Liquidity Ratios	-	-	-	-
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	51	-56	134	16
Operating Cash Flow to CapEx	0.00%	1,199.04%	1,813.18%	29,788.08%
Free Cash Flow to Firm to Interest Expense	4.47	-2.44	1.63	0.15
Operating Cash Flow to Interest Expense	4.61	1.68	0.64	0.53
Operating Cash Flow Less CapEx to Interest Expense	4.61	1.54	0.60	0.53
Efficiency Ratios	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04
Fixed Asset Turnover	27.54	24.28	27.33	26.88
Capital & Investment Metrics	-	-	-	-
Invested Capital	621	717	621	649
Invested Capital Turnover	0.18	0.19	0.22	0.24
Increase / (Decrease) in Invested Capital	-15	97	-97	28
Enterprise Value (EV)	431	656	527	556
Market Capitalization	228	290	323	382
Book Value per Share	$33.09	$29.49	$33.39	$38.17
Tangible Book Value per Share	$31.65	$28.05	$31.94	$36.73
Total Capital	621	717	621	649
Total Debt	331	457	331	320
Total Long-Term Debt	331	457	331	320
Net Debt	191	354	191	162
Capital Expenditures (CapEx)	0.00	3.22	2.88	0.19
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	331	457	331	320
Total Depreciation and Amortization (D&A)	7.69	5.10	7.69	9.73
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$4.17	$0.00	$0.00	$5.20
Adjusted Weighted Average Basic Shares Outstanding	8.46M	0.00	0.00	8.30M
Adjusted Diluted Earnings per Share	$4.17	$0.00	$0.00	$5.20
Adjusted Weighted Average Diluted Shares Outstanding	8.46M	0.00	0.00	8.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	8.46M	0.00	0.00	8.30M
Normalized Net Operating Profit after Tax (NOPAT)	36	41	37	44
Normalized NOPAT Margin	31.71%	31.96%	25.73%	28.83%
Pre Tax Income Margin	41.71%	40.86%	32.76%	33.33%
Debt Service Ratios	-	-	-	-
EBIT to Interest Expense	4.15	2.28	0.57	0.47
NOPAT to Interest Expense	3.15	1.78	0.45	0.41
EBIT Less CapEx to Interest Expense	4.15	2.14	0.54	0.47
NOPAT Less CapEx to Interest Expense	3.15	1.64	0.41	0.40
Payout Ratios	-	-	-	-
Dividend Payout Ratio	23.64%	18.04%	22.83%	20.78%
Augmented Payout Ratio	31.95%	33.03%	30.85%	23.65%

This table displays calculated financial ratios and metrics derived from First Business Financial Services' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	20.69%	20.82%	21.88%	15.03%	8.64%	6.42%	3.28%	8.10%	2.82%	12.34%
EBITDA Growth	21.67%	-14.86%	10.32%	-22.28%	-4.20%	3.03%	-3.41%	19.55%	0.85%	27.54%
EBIT Growth	16.84%	9.47%	8.70%	-26.64%	-14.39%	-0.66%	-10.07%	13.94%	7.13%	22.67%
NOPAT Growth	17.70%	18.22%	3.54%	-25.59%	-8.17%	-3.80%	-1.46%	25.42%	5.88%	47.54%
Net Income Growth	17.70%	18.22%	3.54%	-25.59%	-8.17%	-3.80%	-1.46%	25.42%	5.88%	47.54%
EPS Growth	16.82%	15.53%	2.94%	-24.03%	-6.40%	-5.04%	-0.95%	25.51%	5.98%	49.56%
Operating Cash Flow Growth	49.26%	-35.40%	372.31%	-14.49%	12.89%	83.79%	-12.37%	3.97%	-16.38%	64.72%
Free Cash Flow Firm Growth	-144.57%	-469.66%	-49.95%	215.47%	216.83%	222.96%	-219.35%	-90.49%	-115.33%	-112.86%
Invested Capital Growth	6.97%	15.62%	-0.32%	-24.08%	-4.26%	-13.51%	3.35%	-1.51%	2.55%	4.53%
Revenue Q/Q Growth	11.62%	1.01%	2.00%	0.02%	5.42%	-1.06%	0.00%	4.68%	0.28%	8.10%
EBITDA Q/Q Growth	-0.70%	-10.47%	-9.84%	-6.71%	22.40%	-3.71%	0.00%	15.46%	3.26%	21.77%
EBIT Q/Q Growth	-5.15%	-10.58%	-6.12%	-7.87%	10.69%	3.77%	0.00%	16.73%	4.07%	18.82%
NOPAT Q/Q Growth	-3.37%	-6.19%	-11.59%	-7.15%	19.24%	-1.72%	0.00%	18.17%	0.67%	36.95%
Net Income Q/Q Growth	-3.37%	-6.19%	-11.59%	-7.15%	19.24%	-1.72%	0.00%	18.17%	0.67%	36.95%
EPS Q/Q Growth	-3.10%	-4.80%	-11.76%	-6.67%	19.39%	-3.42%	0.00%	18.27%	0.81%	36.29%
Operating Cash Flow Q/Q Growth	-0.45%	-50.35%	36.58%	26.67%	31.43%	-19.17%	0.00%	50.29%	5.70%	59.23%
Free Cash Flow Firm Q/Q Growth	82.02%	-162.73%	112.75%	1,817.37%	-81.81%	176.51%	0.00%	252.78%	-129.32%	-131.90%
Invested Capital Q/Q Growth	-20.47%	6.56%	-8.36%	-2.24%	0.30%	-3.75%	0.00%	-6.84%	4.43%	-1.88%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	45.94%	40.72%	37.41%	34.89%	40.51%	39.42%	34.98%	38.58%	39.73%	44.76%
EBIT Margin	41.20%	36.47%	33.57%	30.92%	32.46%	34.05%	29.23%	32.59%	33.82%	37.18%
Profit (Net Income) Margin	31.77%	29.50%	25.57%	23.74%	26.85%	26.67%	24.40%	27.54%	27.65%	35.03%
Tax Burden Percent	77.10%	80.89%	76.18%	76.78%	82.70%	78.33%	83.47%	84.51%	81.74%	94.22%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	22.90%	19.11%	23.82%	23.23%	17.30%	21.67%	16.53%	15.49%	18.26%	5.78%
Return on Invested Capital (ROIC)	5.95%	5.64%	5.21%	4.42%	5.77%	5.74%	0.00%	0.00%	0.00%	8.47%
ROIC Less NNEP Spread (ROIC-NNEP)	5.95%	5.64%	5.21%	4.42%	5.77%	5.74%	0.00%	0.00%	0.00%	8.47%
Return on Net Nonoperating Assets (RNNOA)	10.25%	8.07%	8.20%	8.18%	8.48%	8.21%	0.00%	0.00%	0.00%	8.92%
Return on Equity (ROE)	16.19%	13.71%	13.41%	12.61%	14.25%	13.95%	0.00%	0.00%	0.00%	17.39%
Cash Return on Invested Capital (CROIC)	-0.70%	-8.38%	6.57%	32.51%	10.03%	20.03%	-3.30%	1.52%	-2.52%	2.54%
Operating Return on Assets (OROA)	1.85%	1.44%	1.53%	1.42%	1.47%	1.51%	0.00%	0.00%	0.00%	1.55%
Return on Assets (ROA)	1.43%	1.16%	1.17%	1.09%	1.21%	1.18%	0.00%	0.00%	0.00%	1.46%
Return on Common Equity (ROCE)	15.79%	13.11%	12.78%	12.03%	13.61%	13.34%	0.00%	0.00%	0.00%	16.72%
Return on Equity Simple (ROE_SIMPLE)	15.53%	0.00%	15.44%	14.05%	13.33%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	11	10	8.98	8.34	9.94	9.77	8.85	10	11	14
NOPAT Margin	31.77%	29.50%	25.57%	23.74%	26.85%	26.67%	24.40%	27.54%	27.65%	35.03%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	49.58%	51.54%	52.22%	51.04%	49.18%	46.47%	52.24%	50.51%	47.50%	46.17%
Operating Expenses to Revenue	58.77%	61.49%	61.99%	62.73%	62.63%	58.93%	64.36%	62.90%	60.69%	56.26%
Earnings before Interest and Taxes (EBIT)	14	13	12	11	12	12	11	12	13	15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	16	14	13	12	15	14	13	15	15	18
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.08	1.17	0.96	0.91	0.90	1.16	1.08	1.04	1.26	1.21
Price to Tangible Book Value (P/TBV)	1.13	1.23	1.01	0.95	0.95	1.22	1.12	1.08	1.31	1.25
Price to Revenue (P/Rev)	2.13	2.27	1.82	1.70	1.71	2.25	0.00	0.00	0.00	2.49
Price to Earnings (P/E)	6.68	7.22	6.06	6.31	6.64	8.94	0.00	0.00	0.00	8.81
Dividend Yield	2.53%	2.30%	2.81%	2.98%	3.02%	2.34%	2.52%	2.60%	2.14%	2.17%
Earnings Yield	14.98%	13.84%	16.51%	15.84%	15.05%	11.19%	0.00%	0.00%	0.00%	11.36%
Enterprise Value to Invested Capital (EV/IC)	0.86	0.91	0.00	0.79	0.75	0.85	0.93	0.89	0.92	0.86
Enterprise Value to Revenue (EV/Rev)	4.76	5.13	0.00	3.64	3.43	3.66	0.00	0.00	0.00	3.62
Enterprise Value to EBITDA (EV/EBITDA)	9.80	11.45	0.00	9.33	9.33	9.60	0.00	0.00	0.00	9.14
Enterprise Value to EBIT (EV/EBIT)	11.35	12.56	0.00	10.27	10.28	11.17	0.00	0.00	0.00	10.87
Enterprise Value to NOPAT (EV/NOPAT)	14.78	16.06	0.00	13.20	12.98	14.22	0.00	0.00	0.00	12.57
Enterprise Value to Operating Cash Flow (EV/OCF)	9.85	16.98	0.00	11.41	10.51	10.07	0.00	0.00	0.00	9.68
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	2.09	7.35	3.93	0.00	57.97	0.00	34.53
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.66	1.75	0.00	1.36	1.30	1.14	1.28	1.07	1.12	0.97
Long-Term Debt to Equity	1.66	1.75	0.00	1.36	1.30	1.14	1.28	1.07	1.12	0.97
Financial Leverage	1.72	1.43	1.57	1.85	1.47	1.43	1.37	1.21	1.20	1.05
Leverage Ratio	11.36	11.79	11.51	11.56	11.75	11.79	11.86	11.91	12.04	11.91
Compound Leverage Factor	11.36	11.79	11.51	11.56	11.75	11.79	11.86	11.91	12.04	11.91
Debt to Total Capital	62.42%	63.67%	0.00%	57.58%	56.45%	53.33%	56.18%	51.79%	52.81%	49.34%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	62.42%	63.67%	0.00%	57.58%	56.45%	53.33%	56.18%	51.79%	52.81%	49.34%
Preferred Equity to Total Capital	1.78%	1.67%	4.50%	1.87%	1.86%	1.93%	1.76%	1.89%	1.81%	1.85%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	35.80%	34.66%	95.50%	40.55%	41.69%	44.74%	42.06%	46.31%	45.38%	48.81%
Debt to EBITDA	7.09	7.97	0.00	6.83	6.99	6.04	0.00	0.00	0.00	5.26
Net Debt to EBITDA	5.22	6.18	0.00	4.75	4.44	3.49	0.00	0.00	0.00	2.67
Long-Term Debt to EBITDA	7.09	7.97	0.00	6.83	6.99	6.04	0.00	0.00	0.00	5.26
Debt to NOPAT	10.70	11.18	0.00	9.66	9.73	8.94	0.00	0.00	0.00	7.23
Net Debt to NOPAT	7.87	8.67	0.00	6.72	6.17	5.17	0.00	0.00	0.00	3.67
Long-Term Debt to NOPAT	10.70	11.18	0.00	9.66	9.73	8.94	0.00	0.00	0.00	7.23
Noncontrolling Interest Sharing Ratio	2.51%	4.36%	4.69%	4.59%	4.49%	4.36%	4.25%	4.15%	4.05%	3.88%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-33	-87	11	212	39	107	-13	20	-5.92	-14
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	1,250.72%	4,301.29%	0.00%	0.00%	0.00%	52,295.24%
Free Cash Flow to Firm to Interest Expense	-5.60	-7.99	0.72	10.93	1.73	4.23	-0.50	0.74	-0.21	-0.51
Operating Cash Flow to Interest Expense	2.48	0.67	0.65	0.65	0.74	0.53	0.33	0.48	0.49	0.81
Operating Cash Flow Less CapEx to Interest Expense	2.48	0.67	0.65	0.65	0.68	0.52	0.33	0.48	0.51	0.81
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.05	0.05	0.05	0.04	0.00	0.00	0.00	0.04
Fixed Asset Turnover	50.35	24.28	40.94	39.68	30.47	27.33	0.00	0.00	0.00	26.88
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	673	717	657	643	645	621	680	633	661	649
Invested Capital Turnover	0.19	0.19	0.20	0.19	0.22	0.22	0.00	0.00	0.00	0.24
Increase / (Decrease) in Invested Capital	44	97	-2.09	-204	-29	-97	22	-9.72	16	28
Enterprise Value (EV)	581	656	-116	506	486	527	629	563	607	556
Market Capitalization	259	290	244	236	243	323	307	305	378	382
Book Value per Share	$28.43	$29.49	$30.50	$31.43	$32.32	$33.39	$34.41	$35.37	$36.17	$38.17
Tangible Book Value per Share	$26.99	$28.05	$29.04	$29.97	$30.86	$31.94	$32.97	$33.94	$34.74	$36.73
Total Capital	673	717	267	643	645	621	680	633	661	649
Total Debt	420	457	0.00	370	364	331	382	328	349	320
Total Long-Term Debt	420	457	0.00	370	364	331	382	328	349	320
Net Debt	309	354	-372	257	231	191	310	247	217	162
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	1.32	0.31	-0.03	0.00	-0.62	0.04
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	420	457	391	370	364	331	382	328	349	320
Total Depreciation and Amortization (D&A)	1.62	1.46	1.35	1.39	2.98	1.97	2.09	2.28	2.25	3.12
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.25	$1.19	$1.05	$0.98	$1.17	$1.13	$1.04	$1.23	$1.24	$1.69
Adjusted Weighted Average Basic Shares Outstanding	8.43M	8.35M	8.29M	8.32M	8.31M	0.00	8.29M	8.29M	8.30M	8.30M
Adjusted Diluted Earnings per Share	$1.25	$1.19	$1.05	$0.98	$1.17	$1.13	$1.04	$1.23	$1.24	$1.69
Adjusted Weighted Average Diluted Shares Outstanding	8.43M	8.35M	8.29M	8.32M	8.31M	0.00	8.29M	8.29M	8.30M	8.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	8.43M	8.35M	8.29M	8.32M	8.31M	0.00	8.29M	8.29M	8.30M	8.30M
Normalized Net Operating Profit after Tax (NOPAT)	11	10	8.98	8.34	9.94	9.77	8.85	10	11	14
Normalized NOPAT Margin	31.77%	29.50%	25.57%	23.74%	26.85%	26.67%	24.40%	27.54%	27.65%	35.03%
Pre Tax Income Margin	41.20%	36.47%	33.57%	30.92%	32.46%	34.05%	29.23%	32.59%	33.82%	37.18%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.38	1.16	0.77	0.56	0.54	0.49	0.40	0.45	0.45	0.57
NOPAT to Interest Expense	1.83	0.93	0.58	0.43	0.44	0.39	0.34	0.38	0.37	0.53
EBIT Less CapEx to Interest Expense	2.38	1.16	0.77	0.56	0.48	0.48	0.40	0.45	0.48	0.57
NOPAT Less CapEx to Interest Expense	1.83	0.93	0.58	0.43	0.39	0.38	0.34	0.38	0.39	0.53
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	23.66%	18.04%	19.01%	20.91%	21.99%	22.83%	0.00%	0.00%	0.00%	20.78%
Augmented Payout Ratio	28.13%	33.03%	36.93%	39.42%	36.90%	30.85%	0.00%	0.00%	0.00%	23.65%

Frequently Asked Questions About First Business Financial Services' Financials

When does First Business Financial Services's fiscal year end?

According to the most recent income statement we have on file, First Business Financial Services' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has First Business Financial Services' net income changed over the last 3 years?

First Business Financial Services' net income appears to be on an upward trend, with a most recent value of $44.25 million in 2024, rising from $35.76 million in 2021. The previous period was $37.03 million in 2023.

How has First Business Financial Services revenue changed over the last 3 years?

Over the last 3 years, First Business Financial Services' total revenue changed from $112.76 million in 2021 to $153.46 million in 2024, a change of 36.1%.

How much debt does First Business Financial Services have?

First Business Financial Services' total liabilities were at $3.52 billion at the end of 2024, a 9.5% increase from 2023, and a 9.5% increase since 2021.

How much cash does First Business Financial Services have?

In the past 3 years, First Business Financial Services' cash and equivalents has ranged from $25.81 million in 2022 to $32.35 million in 2021, and is currently $29.50 million as of their latest financial filing in 2024.

How has First Business Financial Services' book value per share changed over the last 3 years?

Over the last 3 years, First Business Financial Services' book value per share changed from 33.09 in 2021 to 38.17 in 2024, a change of 15.4%.

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This page (NASDAQ:FBIZ) was last updated on 4/17/2025 by MarketBeat.com Staff

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First Business Financial Services (FBIZ) Financials

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