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.
Quarterly Income Statements for First Business Financial Services
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 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
11 |
9.94 |
8.76 |
8.12 |
9.72 |
9.55 |
8.63 |
10 |
10 |
14 |
11 |
Consolidated Net Income / (Loss) |
|
11 |
10 |
8.98 |
8.34 |
9.94 |
9.77 |
8.85 |
10 |
11 |
14 |
11 |
Net Income / (Loss) Continuing Operations |
|
11 |
10 |
8.98 |
8.34 |
9.94 |
9.77 |
8.85 |
10 |
11 |
14 |
11 |
Total Pre-Tax Income |
|
14 |
13 |
12 |
11 |
12 |
12 |
11 |
12 |
13 |
15 |
13 |
Total Revenue |
|
34 |
34 |
35 |
35 |
37 |
37 |
36 |
38 |
38 |
41 |
41 |
Net Interest Income / (Expense) |
|
26 |
27 |
27 |
28 |
29 |
30 |
30 |
31 |
31 |
33 |
33 |
Total Interest Income |
|
32 |
38 |
42 |
47 |
51 |
55 |
56 |
58 |
59 |
60 |
60 |
Loans and Leases Interest Income |
|
30 |
36 |
40 |
44 |
48 |
51 |
52 |
54 |
56 |
56 |
55 |
Investment Securities Interest Income |
|
1.17 |
1.27 |
1.59 |
1.81 |
2.20 |
2.60 |
2.79 |
3.05 |
2.98 |
3.09 |
3.40 |
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 |
0.85 |
Total Interest Expense |
|
5.90 |
11 |
15 |
19 |
22 |
25 |
26 |
27 |
28 |
27 |
26 |
Deposits Interest Expense |
|
3.18 |
8.17 |
12 |
17 |
20 |
23 |
24 |
25 |
25 |
24 |
23 |
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 |
3.26 |
Total Non-Interest Income |
|
8.20 |
6.97 |
8.41 |
7.37 |
8.43 |
7.09 |
6.76 |
7.43 |
7.06 |
8.01 |
7.58 |
Other Service Charges |
|
4.49 |
2.97 |
4.91 |
3.72 |
4.26 |
3.49 |
3.05 |
3.21 |
2.92 |
3.22 |
2.69 |
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 |
0.96 |
Investment Banking Income |
|
2.62 |
2.57 |
2.65 |
2.89 |
2.95 |
2.93 |
3.11 |
3.46 |
3.26 |
3.43 |
3.49 |
Other Non-Interest Income |
|
0.36 |
1.17 |
0.37 |
0.36 |
0.38 |
0.39 |
0.41 |
0.40 |
0.42 |
0.42 |
0.44 |
Provision for Credit Losses |
|
0.01 |
0.70 |
1.56 |
2.23 |
1.82 |
2.57 |
2.33 |
1.71 |
2.09 |
2.70 |
2.66 |
Total Non-Interest Expense |
|
20 |
21 |
22 |
22 |
23 |
22 |
23 |
24 |
23 |
23 |
25 |
Salaries and Employee Benefits |
|
15 |
15 |
16 |
15 |
16 |
14 |
16 |
16 |
15 |
16 |
17 |
Net Occupancy & Equipment Expense |
|
1.54 |
1.83 |
1.80 |
2.02 |
1.88 |
1.85 |
1.97 |
2.11 |
1.96 |
2.54 |
2.05 |
Marketing Expense |
|
0.54 |
0.64 |
0.63 |
0.78 |
0.76 |
0.72 |
0.82 |
0.85 |
0.92 |
0.93 |
0.97 |
Property & Liability Insurance Claims |
|
0.23 |
0.20 |
0.39 |
0.58 |
0.68 |
0.58 |
0.61 |
0.61 |
0.81 |
0.73 |
0.78 |
Other Operating Expenses |
|
2.90 |
3.22 |
3.04 |
3.52 |
4.30 |
3.98 |
3.79 |
4.09 |
4.21 |
3.43 |
4.18 |
Income Tax Expense |
|
3.22 |
2.40 |
2.81 |
2.52 |
2.08 |
2.70 |
1.75 |
1.92 |
2.35 |
0.89 |
2.29 |
Preferred Stock Dividends Declared |
|
0.22 |
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 |
$1.32 |
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 |
8.32M |
Diluted Earnings per Share |
|
$1.25 |
$1.19 |
$1.05 |
$0.98 |
$1.17 |
$1.13 |
$1.04 |
$1.23 |
$1.24 |
$1.69 |
$1.32 |
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 |
8.32M |
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 |
8.32M |
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 |
$0.29 |
Annual Cash Flow Statements for First Business Financial Services
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 |
Quarterly Cash Flow Statements for First Business Financial Services
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 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
15 |
-8.28 |
83 |
-73 |
20 |
6.60 |
-67 |
9.04 |
51 |
26 |
13 |
Net Cash From Operating Activities |
|
15 |
7.26 |
9.91 |
13 |
16 |
13 |
8.68 |
13 |
14 |
22 |
11 |
Net Cash From Continuing Operating Activities |
|
15 |
7.26 |
9.91 |
13 |
16 |
13 |
8.68 |
13 |
14 |
22 |
11 |
Net Income / (Loss) Continuing Operations |
|
11 |
10 |
8.98 |
8.34 |
9.94 |
9.77 |
8.85 |
10 |
11 |
14 |
11 |
Consolidated Net Income / (Loss) |
|
11 |
10 |
8.98 |
8.34 |
9.94 |
9.77 |
8.85 |
10 |
11 |
14 |
11 |
Provision For Loan Losses |
|
0.01 |
0.70 |
1.56 |
2.23 |
1.82 |
2.57 |
2.33 |
1.71 |
2.09 |
2.70 |
2.66 |
Depreciation Expense |
|
1.06 |
0.98 |
0.91 |
0.96 |
0.97 |
0.80 |
0.79 |
0.98 |
0.95 |
1.02 |
0.87 |
Amortization Expense |
|
0.55 |
0.48 |
0.44 |
0.43 |
2.01 |
1.17 |
1.30 |
1.30 |
1.30 |
2.10 |
1.59 |
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 |
3.42 |
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 |
-8.42 |
Net Cash From Investing Activities |
|
-38 |
-128 |
-116 |
-163 |
-116 |
-111 |
-83 |
-77 |
-67 |
-102 |
-97 |
Net Cash From Continuing Investing Activities |
|
-38 |
-128 |
-116 |
-163 |
-116 |
-111 |
-83 |
-77 |
-67 |
-102 |
-97 |
Purchase of Property, Leasehold Improvements and Equipment |
|
- |
- |
- |
- |
-1.32 |
-0.31 |
- |
- |
0.62 |
-0.04 |
-0.08 |
Purchase of Investment Securities |
|
-70 |
-144 |
-138 |
-185 |
-130 |
-120 |
-103 |
-110 |
-105 |
-140 |
-120 |
Sale of Property, Leasehold Improvements and Equipment |
|
- |
- |
0.00 |
- |
- |
- |
0.03 |
- |
- |
- |
0.00 |
Sale and/or Maturity of Investments |
|
32 |
19 |
22 |
24 |
15 |
8.93 |
20 |
33 |
38 |
38 |
23 |
Net Cash From Financing Activities |
|
38 |
113 |
190 |
77 |
120 |
105 |
6.58 |
73 |
104 |
106 |
99 |
Net Cash From Continuing Financing Activities |
|
38 |
113 |
190 |
77 |
120 |
105 |
6.58 |
73 |
104 |
106 |
99 |
Net Change in Deposits |
|
218 |
81 |
309 |
52 |
128 |
140 |
-41 |
130 |
85 |
137 |
136 |
Issuance of Debt |
|
589 |
414 |
695 |
446 |
302 |
130 |
146 |
334 |
461 |
211 |
545 |
Issuance of Common Equity |
|
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
0.04 |
0.03 |
0.03 |
0.03 |
0.05 |
0.04 |
Repayment of Debt |
|
-765 |
-378 |
-810 |
-418 |
-308 |
-162 |
-95 |
-388 |
-440 |
-240 |
-579 |
Repurchase of Common Equity |
|
-1.53 |
-2.62 |
-1.86 |
-1.07 |
-0.02 |
-0.02 |
-0.58 |
-0.67 |
-0.01 |
-0.01 |
-0.78 |
Payment of Dividends |
|
-1.89 |
-1.88 |
-2.13 |
-2.11 |
-2.11 |
-2.11 |
-2.31 |
-2.30 |
-2.30 |
-2.30 |
-2.66 |
Cash Interest Paid |
|
5.38 |
9.03 |
13 |
17 |
21 |
24 |
26 |
27 |
29 |
28 |
26 |
Cash Income Taxes Paid |
|
3.29 |
4.78 |
-0.01 |
1.20 |
3.83 |
2.43 |
0.01 |
0.39 |
0.46 |
-0.70 |
-0.02 |
Annual Balance Sheets for First Business Financial Services
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 |
Quarterly Balance Sheets for First Business Financial Services
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 |
Q1 2025 |
Total Assets |
|
2,851 |
3,164 |
3,266 |
3,419 |
3,531 |
3,617 |
3,716 |
3,945 |
Cash and Due from Banks |
|
24 |
212 |
32 |
23 |
25 |
26 |
45 |
35 |
Interest Bearing Deposits at Other Banks |
|
87 |
160 |
81 |
110 |
47 |
55 |
87 |
136 |
Trading Account Securities |
|
284 |
303 |
334 |
375 |
392 |
387 |
363 |
414 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
2,952 |
3,016 |
3,149 |
Loans Held for Sale |
|
2,307 |
2.70 |
2,649 |
2,739 |
2,883 |
6.51 |
8.17 |
11 |
Premises and Equipment, Net |
|
3.14 |
4.93 |
5.09 |
6.16 |
6.27 |
6.38 |
5.48 |
5.02 |
Intangible Assets |
|
12 |
12 |
12 |
12 |
12 |
12 |
12 |
12 |
Other Assets |
|
133 |
142 |
153 |
154 |
166 |
172 |
179 |
183 |
Total Liabilities & Shareholders' Equity |
|
2,851 |
3,164 |
3,266 |
3,419 |
3,531 |
3,617 |
3,716 |
3,945 |
Total Liabilities |
|
2,598 |
2,507 |
2,993 |
3,138 |
3,234 |
3,312 |
3,404 |
3,609 |
Non-Interest Bearing Deposits |
|
2,088 |
2,477 |
2,529 |
2,657 |
2,755 |
2,885 |
2,970 |
3,243 |
Long-Term Debt |
|
420 |
- |
370 |
364 |
382 |
328 |
349 |
287 |
Other Long-Term Liabilities |
|
90 |
30 |
94 |
117 |
96 |
99 |
85 |
79 |
Total Equity & Noncontrolling Interests |
|
253 |
267 |
273 |
281 |
298 |
305 |
312 |
336 |
Total Preferred & Common Equity |
|
253 |
267 |
273 |
281 |
298 |
305 |
312 |
336 |
Preferred Stock |
|
12 |
12 |
12 |
12 |
12 |
12 |
12 |
12 |
Total Common Equity |
|
241 |
255 |
261 |
269 |
286 |
293 |
300 |
324 |
Common Stock |
|
87 |
88 |
89 |
90 |
91 |
92 |
93 |
94 |
Retained Earnings |
|
195 |
209 |
215 |
223 |
237 |
245 |
254 |
274 |
Treasury Stock |
|
-25 |
-29 |
-30 |
-30 |
-31 |
-31 |
-31 |
-32 |
Accumulated Other Comprehensive Income / (Loss) |
|
-17 |
-14 |
-14 |
-14 |
-12 |
-13 |
-15 |
-12 |
Annual Metrics And Ratios for First Business Financial Services
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% |
Quarterly Metrics And Ratios for First Business Financial Services
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 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
20.69% |
20.82% |
21.88% |
15.03% |
8.64% |
6.42% |
3.28% |
8.10% |
2.82% |
12.34% |
12.60% |
EBITDA Growth |
|
21.67% |
-14.86% |
10.32% |
-22.28% |
-4.20% |
3.03% |
-3.41% |
19.55% |
0.85% |
27.54% |
25.50% |
EBIT Growth |
|
16.84% |
9.47% |
8.70% |
-26.64% |
-14.39% |
-0.66% |
-10.07% |
13.94% |
7.13% |
22.67% |
26.97% |
NOPAT Growth |
|
17.70% |
18.22% |
3.54% |
-25.59% |
-8.17% |
-3.80% |
-1.46% |
25.42% |
5.88% |
47.54% |
26.25% |
Net Income Growth |
|
17.70% |
18.22% |
3.54% |
-25.59% |
-8.17% |
-3.80% |
-1.46% |
25.42% |
5.88% |
47.54% |
26.25% |
EPS Growth |
|
16.82% |
15.53% |
2.94% |
-24.03% |
-6.40% |
-5.04% |
-0.95% |
25.51% |
5.98% |
49.56% |
26.92% |
Operating Cash Flow Growth |
|
49.26% |
-35.40% |
372.31% |
-14.49% |
12.89% |
83.79% |
-12.37% |
3.97% |
-16.38% |
64.72% |
30.15% |
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% |
615.10% |
Invested Capital Growth |
|
6.97% |
15.62% |
-0.32% |
-24.08% |
-4.26% |
-13.51% |
3.35% |
-1.51% |
2.55% |
4.53% |
-8.37% |
Revenue Q/Q Growth |
|
11.62% |
1.01% |
2.00% |
0.02% |
5.42% |
-1.06% |
0.00% |
4.68% |
0.28% |
8.10% |
-0.77% |
EBITDA Q/Q Growth |
|
-0.70% |
-10.47% |
-9.84% |
-6.71% |
22.40% |
-3.71% |
0.00% |
15.46% |
3.26% |
21.77% |
-13.56% |
EBIT Q/Q Growth |
|
-5.15% |
-10.58% |
-6.12% |
-7.87% |
10.69% |
3.77% |
0.00% |
16.73% |
4.07% |
18.82% |
-12.03% |
NOPAT Q/Q Growth |
|
-3.37% |
-6.19% |
-11.59% |
-7.15% |
19.24% |
-1.72% |
0.00% |
18.17% |
0.67% |
36.95% |
-22.50% |
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% |
-22.50% |
EPS Q/Q Growth |
|
-3.10% |
-4.80% |
-11.76% |
-6.67% |
19.39% |
-3.42% |
0.00% |
18.27% |
0.81% |
36.29% |
-21.89% |
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% |
-48.55% |
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% |
595.84% |
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% |
-4.01% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
45.94% |
40.72% |
37.41% |
34.89% |
40.51% |
39.42% |
34.98% |
38.58% |
39.73% |
44.76% |
38.99% |
EBIT Margin |
|
41.20% |
36.47% |
33.57% |
30.92% |
32.46% |
34.05% |
29.23% |
32.59% |
33.82% |
37.18% |
32.96% |
Profit (Net Income) Margin |
|
31.77% |
29.50% |
25.57% |
23.74% |
26.85% |
26.67% |
24.40% |
27.54% |
27.65% |
35.03% |
27.36% |
Tax Burden Percent |
|
77.10% |
80.89% |
76.18% |
76.78% |
82.70% |
78.33% |
83.47% |
84.51% |
81.74% |
94.22% |
83.00% |
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 |
|
22.90% |
19.11% |
23.82% |
23.23% |
17.30% |
21.67% |
16.53% |
15.49% |
18.26% |
5.78% |
17.00% |
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% |
6.64% |
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% |
6.64% |
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% |
7.00% |
Return on Equity (ROE) |
|
16.19% |
13.71% |
13.41% |
12.61% |
14.25% |
13.95% |
0.00% |
0.00% |
0.00% |
17.39% |
13.64% |
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% |
15.88% |
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% |
1.39% |
Return on Assets (ROA) |
|
1.43% |
1.16% |
1.17% |
1.09% |
1.21% |
1.18% |
0.00% |
0.00% |
0.00% |
1.46% |
1.16% |
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% |
13.12% |
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% |
13.86% |
Net Operating Profit after Tax (NOPAT) |
|
11 |
10 |
8.98 |
8.34 |
9.94 |
9.77 |
8.85 |
10 |
11 |
14 |
11 |
NOPAT Margin |
|
31.77% |
29.50% |
25.57% |
23.74% |
26.85% |
26.67% |
24.40% |
27.54% |
27.65% |
35.03% |
27.36% |
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 |
|
49.58% |
51.54% |
52.22% |
51.04% |
49.18% |
46.47% |
52.24% |
50.51% |
47.50% |
46.17% |
48.39% |
Operating Expenses to Revenue |
|
58.77% |
61.49% |
61.99% |
62.73% |
62.63% |
58.93% |
64.36% |
62.90% |
60.69% |
56.26% |
60.53% |
Earnings before Interest and Taxes (EBIT) |
|
14 |
13 |
12 |
11 |
12 |
12 |
11 |
12 |
13 |
15 |
13 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
16 |
14 |
13 |
12 |
15 |
14 |
13 |
15 |
15 |
18 |
16 |
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 |
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 |
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 |
2.48 |
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 |
8.57 |
Dividend Yield |
|
2.53% |
2.30% |
2.81% |
2.98% |
3.02% |
2.34% |
2.52% |
2.60% |
2.14% |
2.17% |
2.21% |
Earnings Yield |
|
14.98% |
13.84% |
16.51% |
15.84% |
15.05% |
11.19% |
0.00% |
0.00% |
0.00% |
11.36% |
11.67% |
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 |
0.83 |
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 |
3.29 |
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 |
8.10 |
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 |
9.62 |
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 |
11.15 |
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 |
8.64 |
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 |
5.02 |
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 |
0.85 |
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 |
0.85 |
Financial Leverage |
|
1.72 |
1.43 |
1.57 |
1.85 |
1.47 |
1.43 |
1.37 |
1.21 |
1.20 |
1.05 |
1.05 |
Leverage Ratio |
|
11.36 |
11.79 |
11.51 |
11.56 |
11.75 |
11.79 |
11.86 |
11.91 |
12.04 |
11.91 |
11.79 |
Compound Leverage Factor |
|
11.36 |
11.79 |
11.51 |
11.56 |
11.75 |
11.79 |
11.86 |
11.91 |
12.04 |
11.91 |
11.79 |
Debt to Total Capital |
|
62.42% |
63.67% |
0.00% |
57.58% |
56.45% |
53.33% |
56.18% |
51.79% |
52.81% |
49.34% |
46.03% |
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% |
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% |
46.03% |
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% |
1.93% |
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 |
|
35.80% |
34.66% |
95.50% |
40.55% |
41.69% |
44.74% |
42.06% |
46.31% |
45.38% |
48.81% |
52.05% |
Debt to EBITDA |
|
7.09 |
7.97 |
0.00 |
6.83 |
6.99 |
6.04 |
0.00 |
0.00 |
0.00 |
5.26 |
4.47 |
Net Debt to EBITDA |
|
5.22 |
6.18 |
0.00 |
4.75 |
4.44 |
3.49 |
0.00 |
0.00 |
0.00 |
2.67 |
1.81 |
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 |
4.47 |
Debt to NOPAT |
|
10.70 |
11.18 |
0.00 |
9.66 |
9.73 |
8.94 |
0.00 |
0.00 |
0.00 |
7.23 |
6.15 |
Net Debt to NOPAT |
|
7.87 |
8.67 |
0.00 |
6.72 |
6.17 |
5.17 |
0.00 |
0.00 |
0.00 |
3.67 |
2.49 |
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 |
6.15 |
Noncontrolling Interest Sharing Ratio |
|
2.51% |
4.36% |
4.69% |
4.59% |
4.49% |
4.36% |
4.25% |
4.15% |
4.05% |
3.88% |
3.78% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-33 |
-87 |
11 |
212 |
39 |
107 |
-13 |
20 |
-5.92 |
-14 |
68 |
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% |
14,126.25% |
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 |
2.59 |
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 |
0.43 |
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 |
0.43 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.04 |
0.04 |
0.05 |
0.05 |
0.05 |
0.04 |
0.00 |
0.00 |
0.00 |
0.04 |
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 |
28.01 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
673 |
717 |
657 |
643 |
645 |
621 |
680 |
633 |
661 |
649 |
623 |
Invested Capital Turnover |
|
0.19 |
0.19 |
0.20 |
0.19 |
0.22 |
0.22 |
0.00 |
0.00 |
0.00 |
0.24 |
0.24 |
Increase / (Decrease) in Invested Capital |
|
44 |
97 |
-2.09 |
-204 |
-29 |
-97 |
22 |
-9.72 |
16 |
28 |
-57 |
Enterprise Value (EV) |
|
581 |
656 |
-116 |
506 |
486 |
527 |
629 |
563 |
607 |
556 |
519 |
Market Capitalization |
|
259 |
290 |
244 |
236 |
243 |
323 |
307 |
305 |
378 |
382 |
391 |
Book Value per Share |
|
$28.43 |
$29.49 |
$30.50 |
$31.43 |
$32.32 |
$33.39 |
$34.41 |
$35.37 |
$36.17 |
$38.17 |
$39.04 |
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 |
$37.59 |
Total Capital |
|
673 |
717 |
267 |
643 |
645 |
621 |
680 |
633 |
661 |
649 |
623 |
Total Debt |
|
420 |
457 |
0.00 |
370 |
364 |
331 |
382 |
328 |
349 |
320 |
287 |
Total Long-Term Debt |
|
420 |
457 |
0.00 |
370 |
364 |
331 |
382 |
328 |
349 |
320 |
287 |
Net Debt |
|
309 |
354 |
-372 |
257 |
231 |
191 |
310 |
247 |
217 |
162 |
116 |
Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
1.32 |
0.31 |
-0.03 |
0.00 |
-0.62 |
0.04 |
0.08 |
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) |
|
420 |
457 |
391 |
370 |
364 |
331 |
382 |
328 |
349 |
320 |
287 |
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 |
2.46 |
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 |
$1.32 |
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 |
8.32M |
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 |
$1.32 |
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 |
8.32M |
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 |
|
8.43M |
8.35M |
8.29M |
8.32M |
8.31M |
0.00 |
8.29M |
8.29M |
8.30M |
8.30M |
8.32M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
11 |
10 |
8.98 |
8.34 |
9.94 |
9.77 |
8.85 |
10 |
11 |
14 |
11 |
Normalized NOPAT Margin |
|
31.77% |
29.50% |
25.57% |
23.74% |
26.85% |
26.67% |
24.40% |
27.54% |
27.65% |
35.03% |
27.36% |
Pre Tax Income Margin |
|
41.20% |
36.47% |
33.57% |
30.92% |
32.46% |
34.05% |
29.23% |
32.59% |
33.82% |
37.18% |
32.96% |
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 |
0.51 |
NOPAT to Interest Expense |
|
1.83 |
0.93 |
0.58 |
0.43 |
0.44 |
0.39 |
0.34 |
0.38 |
0.37 |
0.53 |
0.43 |
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 |
0.51 |
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 |
0.42 |
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% |
20.51% |
Augmented Payout Ratio |
|
28.13% |
33.03% |
36.93% |
39.42% |
36.90% |
30.85% |
0.00% |
0.00% |
0.00% |
23.65% |
23.66% |
Key Financial Trends
First Business Financial Services (NASDAQ: FBIZ) has demonstrated steady financial performance over the past several quarters, with some fluctuations in key metrics that are important for investors to consider.
Here are the important highlights and trends from the last four years through Q1 2025:
- Consistent Growth in Net Interest Income: The net interest income increased to $33.26 million in Q1 2025 from $29.51 million in Q1 2024, showing strength in the core lending and deposit business.
- Stable and Growing Total Revenue: Total revenue remained relatively stable, with Q1 2025 total revenue at $40.84 million compared to $36.27 million in Q1 2024, helped by growth in non-interest income sources such as investment banking.
- Increasing Net Income and EPS: Net income rose sequentially to $11.17 million in Q1 2025 from $8.85 million in Q1 2024. Correspondingly, diluted earnings per share increased to $1.32 from $1.04, indicating improving profitability on a per-share basis.
- Strong Cash Flow from Operations: The company generated $11.30 million in cash from continuing operating activities in Q1 2025, supporting its ability to fund operations and investments internally.
- Growth in Loans and Leases: The loans and leases, net of allowances expanded to $3.15 billion in Q1 2025 from $2.95 billion in Q2 2024, signifying expanding lending activities.
- Solid Deposit Base: Non-interest bearing deposits steadily increased to $3.24 billion in Q1 2025 from $2.89 billion in Q2 2024, reflecting strong customer deposits contributing to funding stability.
- Provision for Credit Losses: Provisions increased moderately to $2.66 million in Q1 2025 compared to $2.33 million in Q1 2024, signaling cautious credit risk monitoring but slightly higher expected loan losses.
- Interest Expense on Long-Term Debt: Interest expense on long-term debt rose to $3.26 million in Q1 2025 from $2.44 million in Q1 2024, which could indicate higher debt costs or increased leverage.
- Decline in Selling, General & Administrative Expenses: Operating expenses grew to $24.72 million in Q1 2025 compared to $21.77 million in Q1 2024, driven by higher salaries and other operating costs, which could pressure margins if not offset by revenue growth.
- Rising Debt Levels: Long-term debt stood at $286.6 million in Q1 2025, showing some variation quarter to quarter which warrants monitoring for leverage levels and interest cover.
Overall, First Business Financial Services has shown a solid upward trajectory in core earnings, revenue, and loan growth, supported by strong deposit inflows and sound cash flow generation. Investors should keep an eye on rising operating expenses and provision levels, which could weigh on future profitability if those trends continue unchecked.
08/08/25 10:31 PMAI Generated. May Contain Errors.