Business First Bancshares (BFST) Financials

$23.94 -0.33 (-1.36%)

Closing price 04:00 PM Eastern

Extended Trading

$23.94 -0.01 (-0.02%)

As of 04:04 PM Eastern

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

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	19	15	16	16	12	14	19	18	14	17	14
Consolidated Net Income / (Loss)	21	16	18	17	14	16	20	20	15	18	14
Net Income / (Loss) Continuing Operations	21	16	18	17	14	16	20	20	15	18	14
Total Pre-Tax Income	26	21	23	22	17	20	26	25	19	23	17
Total Revenue	79	78	67	66	61	60	65	65	61	64	62
Net Interest Income / (Expense)	66	66	56	54	52	54	55	53	53	56	53
Total Interest Income	114	116	103	100	96	95	93	86	79	75	63
Loans and Leases Interest Income	103	105	93	91	86	86	85	79	74	69	59
Investment Securities Interest Income	7.27	7.31	6.42	5.93	5.60	5.19	5.05	5.10	4.78	4.32	4.20
Federal Funds Sold and Securities Borrowed Interest Income	3.44	4.14	3.02	3.33	4.47	3.71	3.69	1.53	0.94	0.83	0.43
Total Interest Expense	48	50	47	46	44	41	38	33	27	18	9.99
Deposits Interest Expense	42	45	41	41	38	34	30	24	19	13	6.29
Long-Term Debt Interest Expense	5.27	5.55	5.32	4.96	6.45	6.72	7.92	8.84	7.82	5.14	3.71
Total Non-Interest Income	13	12	11	12	9.39	6.41	9.88	12	8.39	8.28	8.12
Service Charges on Deposit Accounts	2.86	2.88	2.72	2.54	2.44	2.47	2.54	2.41	2.28	2.27	2.12
Other Service Charges	9.11	8.71	7.94	7.18	6.81	5.90	7.02	9.11	5.50	5.96	5.74
Net Realized & Unrealized Capital Gains on Investments	1.26	0.27	0.11	2.46	0.14	-1.96	0.32	0.43	0.61	0.06	0.26
Provision for Credit Losses	2.81	6.71	1.67	1.31	1.19	0.12	0.60	0.54	3.22	3.05	3.27
Total Non-Interest Expense	51	50	42	43	43	40	39	40	39	38	41
Salaries and Employee Benefits	29	28	25	26	25	23	22	22	23	22	22
Net Occupancy & Equipment Expense	7.36	7.09	5.83	5.72	5.36	5.30	5.45	5.11	5.00	4.92	5.12
Other Operating Expenses	14	14	12	12	12	12	11	12	11	11	14
Income Tax Expense	5.28	4.82	4.93	4.56	3.64	4.52	5.51	5.31	4.21	4.97	3.58
Preferred Stock Dividends Declared	1.35	1.35	1.35	1.35	1.35	1.35	1.35	1.35	1.35	1.35	0.00
Basic Earnings per Share	$0.65	$0.50	$0.65	$0.63	$0.49	$0.58	$0.76	$0.73	$0.55	$0.70	$0.61
Weighted Average Basic Shares Outstanding	29.69M	29.55M	29.54M	25.50M	25.49M	25.36M	25.34M	25.34M	25.32M	25.11M	-
Diluted Earnings per Share	$0.65	$0.51	$0.65	$0.62	$0.48	$0.56	$0.76	$0.73	$0.54	$0.69	$0.61
Weighted Average Diluted Shares Outstanding	29.69M	29.55M	29.54M	25.50M	25.49M	25.36M	25.34M	25.34M	25.32M	25.11M	-
Weighted Average Basic & Diluted Shares Outstanding	29.69M	29.55M	29.54M	25.50M	25.49M	25.36M	25.34M	25.34M	25.32M	25.11M	-
Cash Dividends to Common per Share	$0.14	-	$0.14	$0.14	$0.14	-	$0.12	$0.12	$0.12	-	$0.12

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

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-6.21	106	5.15	22	-40	35	10	21	7.03	0.07	-2.02
Net Cash From Operating Activities	29	17	21	15	7.60	21	22	26	23	11	21
Net Cash From Continuing Operating Activities	29	17	21	15	7.60	21	22	26	23	11	21
Net Income / (Loss) Continuing Operations	21	16	18	17	14	16	20	20	15	18	14
Consolidated Net Income / (Loss)	21	16	18	17	14	16	20	20	15	18	14
Provision For Loan Losses	2.81	6.71	1.67	1.31	1.19	0.12	0.60	0.54	3.22	3.05	3.27
Depreciation Expense	1.44	1.56	1.32	1.22	1.15	1.12	1.17	1.19	1.19	1.18	1.32
Amortization Expense	-0.16	2.19	0.31	-1.00	0.63	-0.50	-0.91	-0.63	-1.38	-6.58	4.21
Non-Cash Adjustments to Reconcile Net Income	0.72	-4.06	-1.70	-3.84	1.58	-0.34	-1.38	-1.85	0.96	5.38	-5.92
Changes in Operating Assets and Liabilities, net	3.38	-5.56	1.97	0.16	-11	5.05	2.47	6.81	3.93	-9.61	4.01
Net Cash From Investing Activities	72	-1.91	-154	23	-162	-32	-48	-151	-289	-172	-304
Net Cash From Continuing Investing Activities	72	-1.91	-154	23	-162	-32	-48	-151	-289	-172	-304
Purchase of Property, Leasehold Improvements and Equipment	-1.07	0.28	-0.39	-1.06	-0.39	-5.93	-3.48	-0.17	-2.08	-0.59	-0.78
Acquisitions	0.00	100	-	-	-3.28	-	-15	-	0.00	163	-163
Purchase of Investment Securities	-50	-108	-132	-96	-123	-158	-32	-102	-236	-200	-329
Sale and/or Maturity of Investments	42	31	35	22	25	86	24	21	37	34	27
Net Increase in Fed Funds Sold	80	-25	-56	98	-60	45	-23	-70	-89	-4.47	-0.32
Net Cash From Financing Activities	-107	90	137	-16	114	46	37	146	274	160	281
Net Cash From Continuing Financing Activities	-107	90	137	-16	114	46	37	146	274	160	281
Net Change in Deposits	-53	128	77	-9.08	324	58	193	208	-14	234	-72
Issuance of Debt	-39	-156	62	-	-	196	-148	-33	-15	322	-0.01
Repayment of Debt	-6.37	-178	-	203	-203	-199	-3.72	-	-	-451	280
Payment of Dividends	-5.46	-5.51	-4.89	-4.92	-4.94	-4.92	-4.36	-4.39	-4.39	-4.35	-2.70
Other Financing Activities, Net	-3.58	301	3.08	-299	-1.68	-4.36	0.02	-18	307	11	3.41
Cash Income Taxes Paid	0.00	6.25	5.71	5.39	0.00	6.61	5.20	4.29	0.00	5.49	5.94

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

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	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	7,785	6,889	6,704	6,696	6,489	6,455	6,290	5,807
Cash and Due from Banks	313	213	208	186	191	181	160	153
Federal Funds Sold	117	170	114	211	197	174	104	11
Trading Account Securities	921	916	876	873	883	878	941	925
Loans and Leases, Net of Allowance	5,924	5,178	5,121	5,048	0.00	0.00	0.00	0.00
Premises and Equipment, Net	82	68	69	69	65	63	64	64
Goodwill	122	92	92	92	88	89	89	89
Intangible Assets	17	10	11	11	12	13	14	15
Other Assets	239	216	214	206	5,052	5,057	4,919	156
Total Liabilities & Shareholders' Equity	7,785	6,889	6,704	6,696	6,489	6,455	6,290	5,807
Total Liabilities	6,958	6,189	6,039	6,047	5,884	5,854	5,692	5,299
Non-Interest Bearing Deposits	1,308	1,191	1,310	1,295	1,412	1,429	1,476	1,613
Interest Bearing Deposits	5,150	4,450	4,253	4,278	3,778	3,585	3,330	2,973
Short-Term Debt	19	22	18	17	23	23	17	22
Accrued Interest Payable	5.36	3.75	4.52	3.93	11	7.67	3.51	1.02
Long-Term Debt	415	472	410	413	319	771	511	655
Other Long-Term Liabilities	61	51	43	39	340	37	341	35
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	826	700	665	649	604	601	598	508
Total Preferred & Common Equity	826	700	665	649	604	601	598	508
Preferred Stock	72	72	72	72	72	72	72	72
Total Common Equity	754	628	593	577	532	529	526	436
Common Stock	531	424	423	424	421	421	420	370
Retained Earnings	276	250	237	225	205	189	174	150
Accumulated Other Comprehensive Income / (Loss)	-53	-46	-68	-72	-94	-81	-68	-85

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

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

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

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

Frequently Asked Questions About Business First Bancshares' Financials

When does Business First Bancshares's 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 5/28/2025 by MarketBeat.com Staff

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Business First Bancshares (BFST) Financials

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Business First Bancshares (BFST) Financials

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