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Business First Bancshares (BFST) Financials

Business First Bancshares logo
$23.12 +0.20 (+0.87%)
Closing price 04:00 PM Eastern
Extended Trading
$23.13 +0.01 (+0.04%)
As of 04:10 PM Eastern
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Annual Income Statements for Business First Bancshares

Annual Income Statements for Business First Bancshares

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

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 53 66 60
Consolidated Net Income / (Loss)		 54 71 65
Net Income / (Loss) Continuing Operations		 54 71 65
Total Pre-Tax Income 		69 91 83
Total Revenue		 229 252 272
Net Interest Income / (Expense)		 200 215 227
Total Interest Income		 236 353 415
Loans and Leases Interest Income		 218 323 375
Investment Securities Interest Income		 17 20 25
Federal Funds Sold and Securities Borrowed Interest Income		 1.58 9.88 15
Total Interest Expense		 37 138 187
Deposits Interest Expense		 24 107 165
Long-Term Debt Interest Expense		 12 31 22
Total Non-Interest Income		 29 37 44
Service Charges on Deposit Accounts		 8.27 9.70 11
Other Service Charges		 21 28 31
Net Realized & Unrealized Capital Gains on Investments		 0.53 -0.59 2.98
Provision for Credit Losses		 11 4.48 11
Total Non-Interest Expense		 149 157 178
Salaries and Employee Benefits		 85 91 104
Net Occupancy & Equipment Expense		 19 21 24
Other Operating Expenses		 45 45 50
Income Tax Expense		 14 20 18
Preferred Stock Dividends Declared		 1.35 5.40 5.40
Basic Earnings per Share		 $2.34 $2.62 $2.27
Weighted Average Basic Shares Outstanding		 25.11M 25.36M 29.55M
Diluted Earnings per Share		 $2.32 $2.59 $2.26
Weighted Average Diluted Shares Outstanding		 25.11M 25.36M 29.55M
Weighted Average Basic & Diluted Shares Outstanding		 25.11M 25.36M 29.55M
Cash Dividends to Common per Share		 $0.48 $0.50 $0.56

Quarterly Income Statements for Business First Bancshares

This table shows Business First Bancshares' 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 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 14 17 14 18 19 14 12 16 16 15 19
Consolidated Net Income / (Loss)		 14 18 15 20 20 16 14 17 18 16 21
Net Income / (Loss) Continuing Operations		 14 18 15 20 20 16 14 17 18 16 21
Total Pre-Tax Income 		17 23 19 25 26 20 17 22 23 21 26
Total Revenue		 62 64 61 65 65 60 61 66 67 78 79
Net Interest Income / (Expense)		 53 56 53 53 55 54 52 54 56 66 66
Total Interest Income		 63 75 79 86 93 95 96 100 103 116 114
Loans and Leases Interest Income		 59 69 74 79 85 86 86 91 93 105 103
Investment Securities Interest Income		 4.20 4.32 4.78 5.10 5.05 5.19 5.60 5.93 6.42 7.31 7.27
Federal Funds Sold and Securities Borrowed Interest Income		 0.43 0.83 0.94 1.53 3.69 3.71 4.47 3.33 3.02 4.14 3.44
Total Interest Expense		 9.99 18 27 33 38 41 44 46 47 50 48
Deposits Interest Expense		 6.29 13 19 24 30 34 38 41 41 45 42
Long-Term Debt Interest Expense		 3.71 5.14 7.82 8.84 7.92 6.72 6.45 4.96 5.32 5.55 5.27
Total Non-Interest Income		 8.12 8.28 8.39 12 9.88 6.41 9.39 12 11 12 13
Service Charges on Deposit Accounts		 2.12 2.27 2.28 2.41 2.54 2.47 2.44 2.54 2.72 2.88 2.86
Other Service Charges		 5.74 5.96 5.50 9.11 7.02 5.90 6.81 7.18 7.94 8.71 9.11
Net Realized & Unrealized Capital Gains on Investments		 0.26 0.06 0.61 0.43 0.32 -1.96 0.14 2.46 0.11 0.27 1.26
Provision for Credit Losses		 3.27 3.05 3.22 0.54 0.60 0.12 1.19 1.31 1.67 6.71 2.81
Total Non-Interest Expense		 41 38 39 40 39 40 43 43 42 50 51
Salaries and Employee Benefits		 22 22 23 22 22 23 25 26 25 28 29
Net Occupancy & Equipment Expense		 5.12 4.92 5.00 5.11 5.45 5.30 5.36 5.72 5.83 7.09 7.36
Other Operating Expenses		 14 11 11 12 11 12 12 12 12 14 14
Income Tax Expense		 3.58 4.97 4.21 5.31 5.51 4.52 3.64 4.56 4.93 4.82 5.28
Preferred Stock Dividends Declared		 0.00 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35 1.35
Basic Earnings per Share		 $0.61 $0.70 $0.55 $0.73 $0.76 $0.58 $0.49 $0.63 $0.65 $0.50 $0.65
Weighted Average Basic Shares Outstanding		 - 25.11M 25.32M 25.34M 25.34M 25.36M 25.49M 25.50M 29.54M 29.55M 29.69M
Diluted Earnings per Share		 $0.61 $0.69 $0.54 $0.73 $0.76 $0.56 $0.48 $0.62 $0.65 $0.51 $0.65
Weighted Average Diluted Shares Outstanding		 - 25.11M 25.32M 25.34M 25.34M 25.36M 25.49M 25.50M 29.54M 29.55M 29.69M
Weighted Average Basic & Diluted Shares Outstanding		 - 25.11M 25.32M 25.34M 25.34M 25.36M 25.49M 25.50M 29.54M 29.55M 29.69M
Cash Dividends to Common per Share		 $0.12 - $0.12 $0.12 $0.12 - $0.14 $0.14 $0.14 - $0.14

Annual Cash Flow Statements for Business First Bancshares

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

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 84 73 93
Net Cash From Operating Activities		 70 92 61
Net Cash From Continuing Operating Activities		 70 92 61
Net Income / (Loss) Continuing Operations		 54 71 65
Consolidated Net Income / (Loss)		 54 71 65
Provision For Loan Losses		 11 4.48 11
Depreciation Expense		 4.82 4.67 5.26
Amortization Expense		 -1.94 -3.42 2.14
Non-Cash Adjustments to Reconcile Net Income		 -1.42 -2.61 -8.02
Changes in Operating Assets and Liabilities, net		 2.98 18 -14
Net Cash From Investing Activities		 -701 -521 -295
Net Cash From Continuing Investing Activities		 -701 -521 -295
Purchase of Property, Leasehold Improvements and Equipment		 -7.78 -12 -1.56
Acquisitions		 163 -15 97
Purchase of Investment Securities		 -1,214 -528 -458
Sale of Property, Leasehold Improvements and Equipment		 0.72 0.00 0.01
Sale and/or Maturity of Investments		 145 168 112
Net Increase in Fed Funds Sold		 211 -136 -44
Net Cash From Financing Activities		 715 502 326
Net Cash From Continuing Financing Activities		 715 502 326
Net Change in Deposits		 266 445 521
Issuance of Debt		 327 0.00 0.00
Issuance of Preferred Equity		 72 0.00 0.00
Issuance of Common Equity		 48 0.00 0.00
Repayment of Debt		 0.00 -209 -178
Payment of Dividends		 -12 -18 -20
Other Financing Activities, Net		 14 285 3.71
Cash Income Taxes Paid		 14 16 17

Quarterly Cash Flow Statements for Business First Bancshares

This table details how cash moves in and out of Business First Bancshares' 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 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 -2.02 0.07 7.03 21 10 35 -40 22 5.15 106 -6.21
Net Cash From Operating Activities		 21 11 23 26 22 21 7.60 15 21 17 29
Net Cash From Continuing Operating Activities		 21 11 23 26 22 21 7.60 15 21 17 29
Net Income / (Loss) Continuing Operations		 14 18 15 20 20 16 14 17 18 16 21
Consolidated Net Income / (Loss)		 14 18 15 20 20 16 14 17 18 16 21
Provision For Loan Losses		 3.27 3.05 3.22 0.54 0.60 0.12 1.19 1.31 1.67 6.71 2.81
Depreciation Expense		 1.32 1.18 1.19 1.19 1.17 1.12 1.15 1.22 1.32 1.56 1.44
Amortization Expense		 4.21 -6.58 -1.38 -0.63 -0.91 -0.50 0.63 -1.00 0.31 2.19 -0.16
Non-Cash Adjustments to Reconcile Net Income		 -5.92 5.38 0.96 -1.85 -1.38 -0.34 1.58 -3.84 -1.70 -4.06 0.72
Changes in Operating Assets and Liabilities, net		 4.01 -9.61 3.93 6.81 2.47 5.05 -11 0.16 1.97 -5.56 3.38
Net Cash From Investing Activities		 -304 -172 -289 -151 -48 -32 -162 23 -154 -1.91 72
Net Cash From Continuing Investing Activities		 -304 -172 -289 -151 -48 -32 -162 23 -154 -1.91 72
Purchase of Property, Leasehold Improvements and Equipment		 -0.78 -0.59 -2.08 -0.17 -3.48 -5.93 -0.39 -1.06 -0.39 0.28 -1.07
Acquisitions		 -163 163 0.00 - -15 - -3.28 - - 100 0.00
Purchase of Investment Securities		 -329 -200 -236 -102 -32 -158 -123 -96 -132 -108 -50
Sale and/or Maturity of Investments		 27 34 37 21 24 86 25 22 35 31 42
Net Increase in Fed Funds Sold		 -0.32 -4.47 -89 -70 -23 45 -60 98 -56 -25 80
Net Cash From Financing Activities		 281 160 274 146 37 46 114 -16 137 90 -107
Net Cash From Continuing Financing Activities		 281 160 274 146 37 46 114 -16 137 90 -107
Net Change in Deposits		 -72 234 -14 208 193 58 324 -9.08 77 128 -53
Issuance of Debt		 -0.01 322 -15 -33 -148 196 - - 62 -156 -39
Repayment of Debt		 280 -451 - - -3.72 -199 -203 203 - -178 -6.37
Payment of Dividends		 -2.70 -4.35 -4.39 -4.39 -4.36 -4.92 -4.94 -4.92 -4.89 -5.51 -5.46
Other Financing Activities, Net		 3.41 11 307 -18 0.02 -4.36 -1.68 -299 3.08 301 -3.58
Cash Income Taxes Paid		 5.94 5.49 0.00 4.29 5.20 6.61 0.00 5.39 5.71 6.25 0.00

Annual Balance Sheets for Business First Bancshares

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

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 5,990 6,585 7,857
Cash and Due from Banks		 153 226 319
Federal Funds Sold		 16 151 198
Trading Account Securities		 929 880 894
Loans and Leases, Net of Allowance		 0.00 4,952 5,927
Premises and Equipment, Net		 63 69 82
Goodwill		 89 88 122
Intangible Assets		 14 12 17
Other Assets		 4,728 205 248
Total Liabilities & Shareholders' Equity		 5,990 6,585 7,857
Total Liabilities		 5,410 5,940 7,058
Non-Interest Bearing Deposits		 1,549 1,299 1,357
Interest Bearing Deposits		 3,271 3,950 5,154
Short-Term Debt		 20 19 23
Accrued Interest Payable		 2.09 15 5.97
Long-Term Debt		 526 316 461
Other Long-Term Liabilities		 27 342 57
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 580 644 799
Total Preferred & Common Equity		 580 644 799
Preferred Stock		 72 72 72
Total Common Equity		 509 572 728
Common Stock		 419 423 530
Retained Earnings		 164 216 261
Accumulated Other Comprehensive Income / (Loss)		 -74 -67 -63

Quarterly Balance Sheets for Business First Bancshares

This table presents Business First Bancshares' 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 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 5,807 6,290 6,455 6,489 6,696 6,704 6,889 7,785
Cash and Due from Banks		 153 160 181 191 186 208 213 313
Federal Funds Sold		 11 104 174 197 211 114 170 117
Trading Account Securities		 925 941 878 883 873 876 916 921
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 5,048 5,121 5,178 5,924
Premises and Equipment, Net		 64 64 63 65 69 69 68 82
Goodwill		 89 89 89 88 92 92 92 122
Intangible Assets		 15 14 13 12 11 11 10 17
Other Assets		 156 4,919 5,057 5,052 206 214 216 239
Total Liabilities & Shareholders' Equity		 5,807 6,290 6,455 6,489 6,696 6,704 6,889 7,785
Total Liabilities		 5,299 5,692 5,854 5,884 6,047 6,039 6,189 6,958
Non-Interest Bearing Deposits		 1,613 1,476 1,429 1,412 1,295 1,310 1,191 1,308
Interest Bearing Deposits		 2,973 3,330 3,585 3,778 4,278 4,253 4,450 5,150
Short-Term Debt		 22 17 23 23 17 18 22 19
Accrued Interest Payable		 1.02 3.51 7.67 11 3.93 4.52 3.75 5.36
Long-Term Debt		 655 511 771 319 413 410 472 415
Other Long-Term Liabilities		 35 341 37 340 39 43 51 61
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 508 598 601 604 649 665 700 826
Total Preferred & Common Equity		 508 598 601 604 649 665 700 826
Preferred Stock		 72 72 72 72 72 72 72 72
Total Common Equity		 436 526 529 532 577 593 628 754
Common Stock		 370 420 421 421 424 423 424 531
Retained Earnings		 150 174 189 205 225 237 250 276
Accumulated Other Comprehensive Income / (Loss)		 -85 -68 -81 -94 -72 -68 -46 -53

Annual Metrics And Ratios for Business First Bancshares

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

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 20.68% 10.00% 7.87%
EBITDA Growth		 4.15% 28.51% -1.51%
EBIT Growth		 6.25% 32.07% -8.32%
NOPAT Growth		 4.06% 30.94% -8.36%
Net Income Growth		 4.06% 30.94% -8.36%
EPS Growth		 -8.30% 11.64% -12.74%
Operating Cash Flow Growth		 23.27% 32.84% -33.57%
Free Cash Flow Firm Growth		 -606.42% 148.36% -209.18%
Invested Capital Growth		 81.42% -13.07% 30.98%
Revenue Q/Q Growth		 8.83% -1.63% 6.85%
EBITDA Q/Q Growth		 18.61% 3.87% 4.74%
EBIT Q/Q Growth		 13.84% -2.79% 1.17%
NOPAT Q/Q Growth		 12.20% -2.93% 1.03%
Net Income Q/Q Growth		 12.20% -2.93% 1.03%
EPS Q/Q Growth		 4.04% -4.78% -2.16%
Operating Cash Flow Q/Q Growth		 0.00% 11.99% -6.04%
Free Cash Flow Firm Q/Q Growth		 -170.50% 124.98% -31.08%
Invested Capital Q/Q Growth		 0.00% 3.43% 7.51%
Profitability Metrics		 - - -
EBITDA Margin		 31.22% 36.48% 33.30%
EBIT Margin		 29.97% 35.98% 30.58%
Profit (Net Income) Margin		 23.70% 28.22% 23.97%
Tax Burden Percent		 79.10% 78.43% 78.39%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 20.90% 21.57% 21.61%
Return on Invested Capital (ROIC)		 6.21% 6.75% 5.76%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.21% 6.75% 5.76%
Return on Net Nonoperating Assets (RNNOA)		 4.49% 4.85% 3.26%
Return on Equity (ROE)		 10.70% 11.60% 9.02%
Cash Return on Invested Capital (CROIC)		 -51.65% 20.73% -21.07%
Operating Return on Assets (OROA)		 1.28% 1.44% 1.15%
Return on Assets (ROA)		 1.01% 1.13% 0.90%
Return on Common Equity (ROCE)		 9.94% 10.24% 8.12%
Return on Equity Simple (ROE_SIMPLE)		 9.35% 11.03% 8.14%
Net Operating Profit after Tax (NOPAT)		 54 71 65
NOPAT Margin		 23.70% 28.22% 23.97%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 45.69% 44.27% 47.10%
Operating Expenses to Revenue		 65.28% 62.24% 65.42%
Earnings before Interest and Taxes (EBIT)		 69 91 83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 71 92 90
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.93 1.06 1.04
Price to Tangible Book Value (P/TBV)		 1.16 1.28 1.28
Price to Revenue (P/Rev)		 2.06 2.41 2.78
Price to Earnings (P/E)		 8.93 9.24 12.65
Dividend Yield		 2.29% 2.09% 2.19%
Earnings Yield		 11.20% 10.82% 7.90%
Enterprise Value to Invested Capital (EV/IC)		 0.82 0.65 0.62
Enterprise Value to Revenue (EV/Rev)		 4.03 2.53 2.92
Enterprise Value to EBITDA (EV/EBITDA)		 12.90 6.93 8.78
Enterprise Value to EBIT (EV/EBIT)		 13.44 7.02 9.56
Enterprise Value to NOPAT (EV/NOPAT)		 16.99 8.95 12.19
Enterprise Value to Operating Cash Flow (EV/OCF)		 13.25 6.88 12.93
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 2.91 0.00
Leverage & Solvency		 - - -
Debt to Equity		 0.94 0.52 0.60
Long-Term Debt to Equity		 0.91 0.49 0.58
Financial Leverage		 0.72 0.72 0.57
Leverage Ratio		 10.57 10.27 10.00
Compound Leverage Factor		 10.57 10.27 10.00
Debt to Total Capital		 48.47% 34.21% 37.67%
Short-Term Debt to Total Capital		 1.79% 1.93% 1.76%
Long-Term Debt to Total Capital		 46.68% 32.29% 35.91%
Preferred Equity to Total Capital		 6.39% 7.34% 5.61%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 45.14% 58.44% 56.72%
Debt to EBITDA		 7.64 3.65 5.34
Net Debt to EBITDA		 5.29 -0.46 -0.37
Long-Term Debt to EBITDA		 7.36 3.44 5.09
Debt to NOPAT		 10.06 4.72 7.42
Net Debt to NOPAT		 6.96 -0.59 -0.51
Long-Term Debt to NOPAT		 9.69 4.45 7.08
Noncontrolling Interest Sharing Ratio		 7.09% 11.75% 9.96%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -451 218 -238
Operating Cash Flow to CapEx		 984.95% 793.50% 3,948.68%
Free Cash Flow to Firm to Interest Expense		 -12.35 1.58 -1.27
Operating Cash Flow to Interest Expense		 1.90 0.67 0.33
Operating Cash Flow Less CapEx to Interest Expense		 1.71 0.58 0.32
Efficiency Ratios		 - - -
Asset Turnover		 0.04 0.04 0.04
Fixed Asset Turnover		 3.77 3.80 3.59
Capital & Investment Metrics		 - - -
Invested Capital		 1,127 979 1,283
Invested Capital Turnover		 0.26 0.24 0.24
Increase / (Decrease) in Invested Capital		 506 -147 303
Enterprise Value (EV)		 922 636 794
Market Capitalization		 472 606 755
Book Value per Share		 $20.25 $22.58 $24.63
Tangible Book Value per Share		 $16.17 $18.63 $19.93
Total Capital		 1,127 979 1,283
Total Debt		 546 335 483
Total Long-Term Debt		 526 316 461
Net Debt		 378 -42 -34
Capital Expenditures (CapEx)		 7.06 12 1.56
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 546 335 483
Total Depreciation and Amortization (D&A)		 2.87 1.25 7.40
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $2.34 $2.62 $2.27
Adjusted Weighted Average Basic Shares Outstanding		 25.11M 25.36M 29.55M
Adjusted Diluted Earnings per Share		 $2.32 $2.59 $2.26
Adjusted Weighted Average Diluted Shares Outstanding		 25.11M 25.36M 29.55M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 25.11M 25.36M 29.55M
Normalized Net Operating Profit after Tax (NOPAT)		 54 71 65
Normalized NOPAT Margin		 23.70% 28.22% 23.97%
Pre Tax Income Margin		 29.97% 35.98% 30.58%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 1.88 0.66 0.44
NOPAT to Interest Expense		 1.48 0.51 0.35
EBIT Less CapEx to Interest Expense		 1.68 0.57 0.43
NOPAT Less CapEx to Interest Expense		 1.29 0.43 0.34
Payout Ratios		 - - -
Dividend Payout Ratio		 22.44% 25.42% 31.12%
Augmented Payout Ratio		 22.44% 25.42% 31.12%

Quarterly Metrics And Ratios for Business First Bancshares

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 41.14% 40.58% 31.84% 15.38% 5.82% -6.47% -0.36% 1.38% 2.63% 28.94% 30.03%
EBITDA Growth		 134.97% 20.11% 43.23% 44.53% 14.45% 19.51% -0.25% -14.14% -6.93% 19.53% 45.07%
EBIT Growth		 34.41% 57.09% 74.33% 45.26% 49.44% -11.34% -10.54% -13.09% -12.30% 4.74% 50.03%
NOPAT Growth		 33.84% 48.88% 72.09% 43.48% 48.22% -11.93% -9.68% -12.83% -12.77% 4.20% 51.39%
Net Income Growth		 33.84% 48.88% 72.09% 43.48% 48.22% -11.93% -9.68% -12.83% -12.77% 4.20% 51.39%
EPS Growth		 22.00% 15.00% 31.71% 19.67% 24.59% -18.84% -11.11% -15.07% -14.47% -8.93% 35.42%
Operating Cash Flow Growth		 70.72% 0.00% 17.86% 43.06% 8.26% 86.99% -66.85% -41.62% -4.47% -18.56% 277.82%
Free Cash Flow Firm Growth		 492.71% -369.05% -280.71% -117.49% -252.96% 133.43% 113.67% 158.98% 75.35% -275.98% -370.69%
Invested Capital Growth		 -100.00% 81.42% 66.35% 67.29% 0.00% -13.07% -4.06% -21.65% 26.00% 30.98% 16.77%
Revenue Q/Q Growth		 8.86% 4.45% -4.98% 6.78% -0.16% -7.68% 1.24% 8.65% 1.06% 15.99% 2.09%
EBITDA Q/Q Growth		 29.29% -23.44% 8.56% 34.49% 2.39% -20.05% 28.31% 15.76% 10.99% 2.68% 8.13%
EBIT Q/Q Growth		 0.78% 32.03% -16.15% 30.19% 3.68% -21.67% -15.39% 26.47% 4.63% -6.45% 21.19%
NOPAT Q/Q Growth		 0.31% 30.20% -16.37% 31.37% 3.63% -22.64% -14.24% 26.79% 3.70% -7.59% 24.59%
Net Income Q/Q Growth		 0.31% 30.20% -16.37% 31.37% 3.63% -22.64% -14.24% 26.79% 3.70% -7.59% 24.59%
EPS Q/Q Growth		 0.00% 13.11% -21.74% 35.19% 4.11% -26.32% -14.29% 29.17% 4.84% -21.54% 27.45%
Operating Cash Flow Q/Q Growth		 14.75% -45.02% 101.56% 12.49% -13.16% -5.03% -64.27% 98.13% 42.09% -19.04% 65.76%
Free Cash Flow Firm Q/Q Growth		 343.28% -180.51% 11.05% -24.84% -71.10% 117.60% -63.63% 438.61% -171.52% -25.63% 44.06%
Invested Capital Q/Q Growth		 -100.00% 0.00% -0.13% 24.01% -32.13% 3.43% 10.22% 1.27% 9.15% 7.51% -1.74%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 37.19% 27.26% 31.15% 39.23% 40.23% 34.84% 31.18% 33.22% 36.49% 32.30% 34.21%
EBIT Margin		 28.21% 35.66% 31.46% 38.36% 39.84% 33.80% 28.25% 32.89% 34.05% 27.46% 32.60%
Profit (Net Income) Margin		 22.40% 27.93% 24.58% 30.24% 31.38% 26.30% 22.28% 26.00% 26.68% 21.25% 25.94%
Tax Burden Percent		 79.42% 78.32% 78.11% 78.82% 78.78% 77.80% 78.85% 79.05% 78.35% 77.39% 79.57%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 20.58% 21.68% 21.89% 21.18% 21.22% 22.20% 21.15% 20.95% 21.65% 22.61% 20.43%
Return on Invested Capital (ROIC)		 15.92% 7.32% 6.65% 6.85% 16.97% 6.29% 5.08% 5.28% 6.34% 5.10% 6.43%
ROIC Less NNEP Spread (ROIC-NNEP)		 15.92% 7.32% 6.65% 6.85% 16.97% 6.29% 5.08% 5.28% 6.34% 5.10% 6.43%
Return on Net Nonoperating Assets (RNNOA)		 5.98% 5.29% 4.71% 7.74% 9.61% 4.52% 3.91% 5.10% 4.06% 2.89% 3.77%
Return on Equity (ROE)		 21.90% 12.61% 11.36% 14.58% 26.58% 10.81% 8.99% 10.37% 10.40% 8.00% 10.19%
Cash Return on Invested Capital (CROIC)		 216.34% -51.65% -43.10% -44.38% -184.54% 20.73% 10.46% 29.67% -16.99% -21.07% -9.31%
Operating Return on Assets (OROA)		 2.69% 1.52% 1.32% 1.62% 3.14% 1.35% 1.09% 1.26% 1.29% 1.03% 1.31%
Return on Assets (ROA)		 2.14% 1.19% 1.03% 1.27% 2.48% 1.05% 0.86% 1.00% 1.01% 0.80% 1.04%
Return on Common Equity (ROCE)		 21.90% 11.71% 10.58% 13.58% 23.42% 9.54% 7.95% 9.19% 9.25% 7.20% 9.20%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 10.13% 11.07% 12.11% 0.00% 10.72% 10.09% 9.21% 0.00% 8.72%
Net Operating Profit after Tax (NOPAT)		 14 18 15 20 20 16 14 17 18 16 21
NOPAT Margin		 22.40% 27.93% 24.58% 30.24% 31.38% 26.30% 22.28% 26.00% 26.68% 21.25% 25.94%
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% 0.00%
SG&A Expenses to Revenue		 43.88% 42.16% 46.09% 42.05% 42.86% 46.38% 50.52% 47.20% 45.91% 45.35% 46.53%
Operating Expenses to Revenue		 66.48% 59.60% 63.27% 60.81% 59.23% 66.00% 69.80% 65.14% 63.46% 63.89% 63.85%
Earnings before Interest and Taxes (EBIT)		 17 23 19 25 26 20 17 22 23 21 26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 23 18 19 26 26 21 19 22 24 25 27
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.93 0.79 0.70 0.87 1.06 0.97 0.93 1.04 1.04 0.95
Price to Tangible Book Value (P/TBV)		 0.00 1.16 0.97 0.86 1.07 1.28 1.18 1.12 1.25 1.28 1.17
Price to Revenue (P/Rev)		 2.19 2.06 1.69 1.46 1.81 2.41 2.22 2.18 2.58 2.78 2.48
Price to Earnings (P/E)		 9.55 8.93 7.14 5.91 6.83 9.24 8.69 8.94 11.09 12.65 10.79
Dividend Yield		 2.35% 2.29% 2.92% 3.29% 2.63% 2.09% 2.36% 2.50% 2.18% 2.19% 2.30%
Earnings Yield		 10.48% 11.20% 14.01% 16.91% 14.64% 10.82% 11.51% 11.19% 9.02% 7.90% 9.27%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.82 0.67 0.63 0.52 0.65 0.61 0.67 0.70 0.62 0.63
Enterprise Value to Revenue (EV/Rev)		 2.19 4.03 3.07 3.49 1.91 2.53 2.63 2.89 3.29 2.92 2.74
Enterprise Value to EBITDA (EV/EBITDA)		 7.66 12.90 9.69 10.35 5.53 6.93 7.22 8.28 9.69 8.78 8.04
Enterprise Value to EBIT (EV/EBIT)		 7.66 13.44 9.74 10.41 5.25 7.02 7.48 8.56 10.20 9.56 8.68
Enterprise Value to NOPAT (EV/NOPAT)		 9.55 16.99 12.36 13.24 6.69 8.95 9.52 10.88 12.99 12.19 11.03
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 13.25 10.24 10.90 5.93 6.88 8.60 11.00 12.81 12.93 9.64
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.72 0.00 0.00 0.00 0.00 2.91 5.75 1.98 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.94 0.88 1.32 0.57 0.52 0.66 0.64 0.71 0.60 0.53
Long-Term Debt to Equity		 0.00 0.91 0.85 1.28 0.53 0.49 0.64 0.62 0.67 0.58 0.50
Financial Leverage		 0.38 0.72 0.71 1.13 0.57 0.72 0.77 0.97 0.64 0.57 0.59
Leverage Ratio		 10.24 10.57 11.05 11.45 10.74 10.27 10.42 10.40 10.26 10.00 9.81
Compound Leverage Factor		 10.24 10.57 11.05 11.45 10.74 10.27 10.42 10.40 10.26 10.00 9.81
Debt to Total Capital		 0.00% 48.47% 46.88% 56.93% 36.17% 34.21% 39.87% 39.20% 41.37% 37.67% 34.44%
Short-Term Debt to Total Capital		 0.00% 1.79% 1.48% 1.67% 2.46% 1.93% 1.59% 1.69% 1.80% 1.76% 1.51%
Long-Term Debt to Total Capital		 0.00% 46.68% 45.40% 55.26% 33.72% 32.29% 38.28% 37.52% 39.56% 35.91% 32.93%
Preferred Equity to Total Capital		 0.00% 6.39% 6.39% 5.16% 7.60% 7.34% 6.66% 6.58% 6.03% 5.61% 5.71%
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% 0.00%
Common Equity to Total Capital		 0.00% 45.14% 46.73% 37.92% 56.23% 58.44% 53.47% 54.21% 52.60% 56.72% 59.85%
Debt to EBITDA		 0.00 7.64 6.83 9.33 3.87 3.65 4.69 4.86 5.72 5.34 4.39
Net Debt to EBITDA		 0.00 5.29 3.41 5.16 -0.52 -0.46 0.36 1.21 1.28 -0.37 0.04
Long-Term Debt to EBITDA		 0.00 7.36 6.61 9.06 3.61 3.44 4.50 4.65 5.47 5.09 4.20
Debt to NOPAT		 0.00 10.06 8.71 11.94 4.68 4.72 6.18 6.39 7.66 7.42 6.02
Net Debt to NOPAT		 0.00 6.96 4.35 6.60 -0.62 -0.59 0.48 1.59 1.71 -0.51 0.05
Long-Term Debt to NOPAT		 0.00 9.69 8.44 11.59 4.36 4.45 5.94 6.12 7.32 7.08 5.76
Noncontrolling Interest Sharing Ratio		 0.00% 7.09% 6.82% 6.87% 11.90% 11.75% 11.54% 11.37% 11.03% 9.96% 9.75%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 606 -488 -434 -541 -926 163 59 319 -228 -287 -160
Operating Cash Flow to CapEx		 2,650.19% 1,935.37% 1,105.45% 15,543.98% 644.43% 358.84% 1,954.50% 1,427.87% 5,446.56% 0.00% 2,692.22%
Free Cash Flow to Firm to Interest Expense		 60.61 -26.44 -16.22 -16.65 -24.36 3.99 1.33 6.96 -4.90 -5.69 -3.36
Operating Cash Flow to Interest Expense		 2.07 0.62 0.86 0.79 0.59 0.52 0.17 0.33 0.46 0.34 0.60
Operating Cash Flow Less CapEx to Interest Expense		 1.99 0.59 0.78 0.79 0.50 0.38 0.16 0.31 0.45 0.35 0.58
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.10 0.04 0.04 0.04 0.08 0.04 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 0.00 3.77 3.84 3.96 0.00 3.80 3.79 3.84 3.84 3.59 3.86
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 1,127 1,125 1,395 947 979 1,079 1,093 1,193 1,283 1,260
Invested Capital Turnover		 0.71 0.26 0.27 0.23 0.54 0.24 0.23 0.20 0.24 0.24 0.25
Increase / (Decrease) in Invested Capital		 -592 506 449 561 947 -147 -46 -302 246 303 181
Enterprise Value (EV)		 462 922 748 881 489 636 663 730 837 794 795
Market Capitalization		 462 472 413 369 463 606 558 551 655 755 720
Book Value per Share		 $0.00 $20.25 $20.77 $20.89 $21.01 $22.58 $22.76 $23.25 $24.61 $24.63 $25.53
Tangible Book Value per Share		 $0.00 $16.17 $16.73 $16.88 $17.03 $18.63 $18.70 $19.24 $20.62 $19.93 $20.85
Total Capital		 0.00 1,127 1,125 1,395 947 979 1,079 1,093 1,193 1,283 1,260
Total Debt		 0.00 546 527 794 342 335 430 429 494 483 434
Total Long-Term Debt		 0.00 526 511 771 319 316 413 410 472 461 415
Net Debt		 0.00 378 263 439 -46 -42 33 107 110 -34 3.79
Capital Expenditures (CapEx)		 0.78 0.59 2.08 0.17 3.48 5.93 0.39 1.06 0.39 -0.28 1.07
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 0.00 546 527 794 342 335 430 429 494 483 434
Total Depreciation and Amortization (D&A)		 5.53 -5.40 -0.19 0.57 0.26 0.62 1.79 0.22 1.63 3.75 1.28
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.70 $0.55 $0.73 $0.76 $0.58 $0.49 $0.63 $0.65 $0.50 $0.65
Adjusted Weighted Average Basic Shares Outstanding		 0.00 25.11M 25.32M 25.34M 25.34M 25.36M 25.49M 25.50M 29.54M 29.55M 29.69M
Adjusted Diluted Earnings per Share		 $0.00 $0.69 $0.54 $0.73 $0.76 $0.56 $0.48 $0.62 $0.65 $0.51 $0.65
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 25.11M 25.32M 25.34M 25.34M 25.36M 25.49M 25.50M 29.54M 29.55M 29.69M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 25.11M 25.32M 25.34M 25.34M 25.36M 25.49M 25.50M 29.54M 29.55M 29.69M
Normalized Net Operating Profit after Tax (NOPAT)		 14 18 15 20 20 16 14 17 18 16 21
Normalized NOPAT Margin		 22.40% 27.93% 24.58% 30.24% 31.38% 26.30% 22.28% 26.00% 26.68% 21.25% 25.94%
Pre Tax Income Margin		 28.21% 35.66% 31.46% 38.36% 39.84% 33.80% 28.25% 32.89% 34.05% 27.46% 32.60%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.74 1.24 0.72 0.77 0.68 0.50 0.39 0.47 0.49 0.42 0.54
NOPAT to Interest Expense		 1.38 0.97 0.56 0.61 0.54 0.39 0.31 0.38 0.38 0.33 0.43
EBIT Less CapEx to Interest Expense		 1.66 1.21 0.64 0.77 0.59 0.35 0.38 0.45 0.48 0.43 0.52
NOPAT Less CapEx to Interest Expense		 1.30 0.94 0.48 0.60 0.45 0.24 0.30 0.35 0.37 0.33 0.41
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 22.44% 23.33% 23.78% 23.90% 25.42% 26.74% 28.54% 30.52% 31.12% 28.82%
Augmented Payout Ratio		 0.00% 22.44% 23.33% 23.78% 23.90% 25.42% 26.74% 28.54% 30.52% 31.12% 28.82%

Key Financial Trends

Business First Bancshares (NASDAQ: BFST) has shown clear growth and operational strength over the past four years through Q1 2025, reflected in its key financial metrics and trends:

  • Consistent Net Interest Income Growth: Net interest income has increased steadily from $52.7 million in Q1 2023 to $65.9 million in Q1 2025, indicating effective core lending and deposit operations.
  • Rising Net Income: Net income attributable to common shareholders grew from $13.7 million in Q1 2023 to $19.2 million in Q1 2025, reflecting improved profitability.
  • EPS Improvement: Basic and diluted earnings per share advanced from approximately $0.54 in Q1 2023 to $0.65 in Q1 2025, suggesting enhanced shareholder value.
  • Loan Portfolio Expansion: Loans and leases net of allowance expanded significantly from nonexistent or minimal in early 2023 to $5.9 billion by Q1 2025, which supports higher interest income potential.
  • Solid Operating Cash Flows: Net cash from continuing operating activities doubled from roughly $7.6 million in Q1 2024 to $28.7 million in Q1 2025, indicating strong cash generation ability.
  • Stable Non-Interest Income: Non-interest income remains robust, with total non-interest income around $13.2 million in Q1 2025, driven by service charges and capital gains, maintaining diversification of revenue.
  • Healthy Capitalization: Total equity increased from about $598 million in early 2023 to $826 million by Q1 2025, demonstrating improving capital base to support growth.
  • Increasing Interest Expense: Interest expense rose from $26.7 million in Q1 2023 to $47.7 million in Q1 2025, largely due to higher deposit costs and long-term debt interest, which pressures net interest margin.
  • Rising Provisions for Credit Losses: Provision for credit losses jumped from $3.2 million in Q1 2023 to $2.8 million in Q1 2025 with some quarter-to-quarter volatility, indicating cautiousness about credit risk as lending grows.
  • Significant Investing Activity: The company reported large cash outflows for purchases of investment securities and acquisitions periodically, including $49.8 million on investments in Q1 2025, impacting free cash flow and potentially increasing risk exposure.

Overall, Business First Bancshares is on an upward trajectory, expanding its loan book and benefiting from improved earnings and cash flows. However, investors should monitor the rising funding costs and provisions for credit losses, which may affect future profitability. The steady dividend payments per share ($0.14) also indicate a commitment to returning value to shareholders. The company’s balance sheet growth complements the income statement strength, with total assets growing from around $6.3 billion in early 2023 to $7.8 billion in Q1 2025.

08/08/25 04:29 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Business First Bancshares' Financials

When does Business First Bancshares' financial year end?

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

How has Business First Bancshares' net income changed over the last 2 years?

Business First Bancshares' net income appears to be on an upward trend, with a most recent value of $65.11 million in 2024, rising from $54.26 million in 2022. The previous period was $71.04 million in 2023. See where experts think Business First Bancshares is headed by visiting Business First Bancshares' forecast page.

How has Business First Bancshares' revenue changed over the last 2 years?

Over the last 2 years, Business First Bancshares' total revenue changed from $228.89 million in 2022 to $271.58 million in 2024, a change of 18.7%.

How much debt does Business First Bancshares have?

Business First Bancshares' total liabilities were at $7.06 billion at the end of 2024, a 18.8% increase from 2023, and a 30.5% increase since 2022.

How much cash does Business First Bancshares have?

In the past 2 years, Business First Bancshares' cash and equivalents has ranged from $152.74 million in 2022 to $319.10 million in 2024, and is currently $319.10 million as of their latest financial filing in 2024.

How has Business First Bancshares' book value per share changed over the last 2 years?

Over the last 2 years, Business First Bancshares' book value per share changed from 20.25 in 2022 to 24.63 in 2024, a change of 21.6%.


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This page (NASDAQ:BFST) was last updated on 8/8/2025 by MarketBeat.com Staff
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