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First Business Financial Services (FBIZ) Financials

First Business Financial Services logo
$47.72 -0.27 (-0.56%)
Closing price 04:00 PM Eastern
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$47.86 +0.13 (+0.28%)
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Annual Income Statements for First Business Financial Services

Annual Income Statements for First Business Financial Services

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

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

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 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		 11 14 10 10 8.63 9.55 9.72 8.12 8.76 9.94 11
Consolidated Net Income / (Loss)		 11 14 11 10 8.85 9.77 9.94 8.34 8.98 10 11
Net Income / (Loss) Continuing Operations		 11 14 11 10 8.85 9.77 9.94 8.34 8.98 10 11
Total Pre-Tax Income 		13 15 13 12 11 12 12 11 12 13 14
Total Revenue		 41 41 38 38 36 37 37 35 35 34 34
Net Interest Income / (Expense)		 33 33 31 31 30 30 29 28 27 27 26
Total Interest Income		 60 60 59 58 56 55 51 47 42 38 32
Loans and Leases Interest Income		 55 56 56 54 52 51 48 44 40 36 30
Investment Securities Interest Income		 3.40 3.09 2.98 3.05 2.79 2.60 2.20 1.81 1.59 1.27 1.17
Deposits and Money Market Investments Interest Income		 0.85 1.07 0.85 0.97 1.44 1.47 0.88 1.07 0.66 0.62 0.45
Total Interest Expense		 26 27 28 27 26 25 22 19 15 11 5.90
Deposits Interest Expense		 23 24 25 25 24 23 20 17 12 8.17 3.18
Long-Term Debt Interest Expense		 3.26 2.84 3.03 2.69 2.44 2.58 2.54 2.87 2.93 2.69 2.72
Total Non-Interest Income		 7.58 8.01 7.06 7.43 6.76 7.09 8.43 7.37 8.41 6.97 8.20
Other Service Charges		 2.69 3.22 2.92 3.21 3.05 3.49 4.26 3.72 4.91 2.97 4.49
Net Realized & Unrealized Capital Gains on Investments		 0.96 0.94 0.46 0.35 0.19 0.28 0.85 0.40 0.48 0.27 0.73
Investment Banking Income		 3.49 3.43 3.26 3.46 3.11 2.93 2.95 2.89 2.65 2.57 2.62
Other Non-Interest Income		 0.44 0.42 0.42 0.40 0.41 0.39 0.38 0.36 0.37 1.17 0.36
Provision for Credit Losses		 2.66 2.70 2.09 1.71 2.33 2.57 1.82 2.23 1.56 0.70 0.01
Total Non-Interest Expense		 25 23 23 24 23 22 23 22 22 21 20
Salaries and Employee Benefits		 17 16 15 16 16 14 16 15 16 15 15
Net Occupancy & Equipment Expense		 2.05 2.54 1.96 2.11 1.97 1.85 1.88 2.02 1.80 1.83 1.54
Marketing Expense		 0.97 0.93 0.92 0.85 0.82 0.72 0.76 0.78 0.63 0.64 0.54
Property & Liability Insurance Claims		 0.78 0.73 0.81 0.61 0.61 0.58 0.68 0.58 0.39 0.20 0.23
Other Operating Expenses		 4.18 3.43 4.21 4.09 3.79 3.98 4.30 3.52 3.04 3.22 2.90
Income Tax Expense		 2.29 0.89 2.35 1.92 1.75 2.70 2.08 2.52 2.81 2.40 3.22
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		 $1.32 $1.69 $1.24 $1.23 $1.04 $1.13 $1.17 $0.98 $1.05 $1.19 $1.25
Weighted Average Basic Shares Outstanding		 8.32M 8.30M 8.30M 8.29M 8.29M 0.00 8.31M 8.32M 8.29M 8.35M 8.43M
Diluted Earnings per Share		 $1.32 $1.69 $1.24 $1.23 $1.04 $1.13 $1.17 $0.98 $1.05 $1.19 $1.25
Weighted Average Diluted Shares Outstanding		 8.32M 8.30M 8.30M 8.29M 8.29M 0.00 8.31M 8.32M 8.29M 8.35M 8.43M
Weighted Average Basic & Diluted Shares Outstanding		 8.32M 8.30M 8.30M 8.29M 8.29M 0.00 8.31M 8.32M 8.29M 8.35M 8.43M
Cash Dividends to Common per Share		 $0.29 $0.25 $0.25 $0.25 $0.25 $0.23 $0.23 $0.23 $0.23 $0.20 $0.20

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 2024 2023 2022 2021
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021
Net Change in Cash & Equivalents		 18 37 46 0.20
Net Cash From Operating Activities		 57 52 39 36
Net Cash From Continuing Operating Activities		 57 52 39 36
Net Income / (Loss) Continuing Operations		 44 37 41 36
Consolidated Net Income / (Loss)		 44 37 41 36
Provision For Loan Losses		 8.83 8.18 -3.87 -5.80
Depreciation Expense		 3.74 3.64 4.07 3.55
Amortization Expense		 5.99 4.05 1.04 -
Non-Cash Adjustments to Reconcile Net Income		 -8.66 5.42 -0.74 6.53
Changes in Operating Assets and Liabilities, net		 3.35 -6.03 -2.70 -4.04
Net Cash From Investing Activities		 -328 -507 -245 -111
Net Cash From Continuing Investing Activities		 -328 -507 -245 -111
Purchase of Property, Leasehold Improvements and Equipment		 -0.22 -2.88 -3.22 -
Purchase of Investment Securities		 -458 -573 -334 -192
Sale of Property, Leasehold Improvements and Equipment		 0.03 0.00 0.00 -
Sale and/or Maturity of Investments		 129 69 92 80
Other Investing Activities, net		 -0.03 -0.02 -0.05 0.06
Net Cash From Financing Activities		 289 491 252 75
Net Cash From Continuing Financing Activities		 289 491 252 75
Net Change in Deposits		 310 629 210 102
Issuance of Debt		 1,153 1,573 2,437 798
Issuance of Preferred Equity		 0.00 0.00 12 0.00
Issuance of Common Equity		 0.14 0.13 0.13 0.16
Repayment of Debt		 -1,163 -1,699 -2,394 -814
Repurchase of Common Equity		 -1.27 -2.97 -6.13 -5.48
Payment of Dividends		 -9.20 -8.45 -7.37 -6.17
Cash Interest Paid		 110 76 20 13
Cash Income Taxes Paid		 0.16 7.46 8.04 15

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 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		 13 26 51 9.04 -67 6.60 20 -73 83 -8.28 15
Net Cash From Operating Activities		 11 22 14 13 8.68 13 16 13 9.91 7.26 15
Net Cash From Continuing Operating Activities		 11 22 14 13 8.68 13 16 13 9.91 7.26 15
Net Income / (Loss) Continuing Operations		 11 14 11 10 8.85 9.77 9.94 8.34 8.98 10 11
Consolidated Net Income / (Loss)		 11 14 11 10 8.85 9.77 9.94 8.34 8.98 10 11
Provision For Loan Losses		 2.66 2.70 2.09 1.71 2.33 2.57 1.82 2.23 1.56 0.70 0.01
Depreciation Expense		 0.87 1.02 0.95 0.98 0.79 0.80 0.97 0.96 0.91 0.98 1.06
Amortization Expense		 1.59 2.10 1.30 1.30 1.30 1.17 2.01 0.43 0.44 0.48 0.55
Non-Cash Adjustments to Reconcile Net Income		 3.42 -7.09 -1.65 -2.64 2.71 3.66 -3.09 2.87 1.99 -0.75 0.39
Changes in Operating Assets and Liabilities, net		 -8.42 8.81 0.58 1.24 -7.29 -4.63 4.86 -2.28 -3.97 -4.32 1.77
Net Cash From Investing Activities		 -97 -102 -67 -77 -83 -111 -116 -163 -116 -128 -38
Net Cash From Continuing Investing Activities		 -97 -102 -67 -77 -83 -111 -116 -163 -116 -128 -38
Purchase of Property, Leasehold Improvements and Equipment		 -0.08 -0.04 0.62 - - -0.31 -1.32 - - - -
Purchase of Investment Securities		 -120 -140 -105 -110 -103 -120 -130 -185 -138 -144 -70
Sale of Property, Leasehold Improvements and Equipment		 0.00 - - - 0.03 - - - 0.00 - -
Sale and/or Maturity of Investments		 23 38 38 33 20 8.93 15 24 22 19 32
Net Cash From Financing Activities		 99 106 104 73 6.58 105 120 77 190 113 38
Net Cash From Continuing Financing Activities		 99 106 104 73 6.58 105 120 77 190 113 38
Net Change in Deposits		 136 137 85 130 -41 140 128 52 309 81 218
Issuance of Debt		 545 211 461 334 146 130 302 446 695 414 589
Issuance of Common Equity		 0.04 0.05 0.03 0.03 0.03 0.04 0.03 0.03 0.03 0.03 0.03
Repayment of Debt		 -579 -240 -440 -388 -95 -162 -308 -418 -810 -378 -765
Repurchase of Common Equity		 -0.78 -0.01 -0.01 -0.67 -0.58 -0.02 -0.02 -1.07 -1.86 -2.62 -1.53
Payment of Dividends		 -2.66 -2.30 -2.30 -2.30 -2.31 -2.11 -2.11 -2.11 -2.13 -1.88 -1.89
Cash Interest Paid		 26 28 29 27 26 24 21 17 13 9.03 5.38
Cash Income Taxes Paid		 -0.02 -0.70 0.46 0.39 0.01 2.43 3.83 1.20 -0.01 4.78 3.29

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

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 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		 3,945 3,716 3,617 3,531 3,419 3,266 3,164 2,851
Cash and Due from Banks		 35 45 26 25 23 32 212 24
Interest Bearing Deposits at Other Banks		 136 87 55 47 110 81 160 87
Trading Account Securities		 414 363 387 392 375 334 303 284
Loans and Leases, Net of Allowance		 3,149 3,016 2,952 0.00 0.00 0.00 0.00 0.00
Loans Held for Sale		 11 8.17 6.51 2,883 2,739 2,649 2.70 2,307
Premises and Equipment, Net		 5.02 5.48 6.38 6.27 6.16 5.09 4.93 3.14
Intangible Assets		 12 12 12 12 12 12 12 12
Other Assets		 183 179 172 166 154 153 142 133
Total Liabilities & Shareholders' Equity		 3,945 3,716 3,617 3,531 3,419 3,266 3,164 2,851
Total Liabilities		 3,609 3,404 3,312 3,234 3,138 2,993 2,507 2,598
Non-Interest Bearing Deposits		 3,243 2,970 2,885 2,755 2,657 2,529 2,477 2,088
Long-Term Debt		 287 349 328 382 364 370 - 420
Other Long-Term Liabilities		 79 85 99 96 117 94 30 90
Total Equity & Noncontrolling Interests		 336 312 305 298 281 273 267 253
Total Preferred & Common Equity		 336 312 305 298 281 273 267 253
Preferred Stock		 12 12 12 12 12 12 12 12
Total Common Equity		 324 300 293 286 269 261 255 241
Common Stock		 94 93 92 91 90 89 88 87
Retained Earnings		 274 254 245 237 223 215 209 195
Treasury Stock		 -32 -31 -31 -31 -30 -30 -29 -25
Accumulated Other Comprehensive Income / (Loss)		 -12 -15 -13 -12 -14 -14 -14 -17

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 2024 2023 2022 2021
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021
Growth Metrics		 - - - -
Revenue Growth		 6.64% 12.55% 13.38% 8.41%
EBITDA Growth		 11.04% -4.39% 4.80% 151.35%
EBIT Growth		 8.51% -9.77% 11.09% 156.92%
NOPAT Growth		 19.49% -9.38% 14.27% 110.60%
Net Income Growth		 19.49% -9.38% 14.27% 110.60%
EPS Growth		 20.09% -8.84% 13.91% 111.68%
Operating Cash Flow Growth		 9.94% 35.31% 7.37% 96.33%
Free Cash Flow Firm Growth		 -87.97% 338.87% -210.75% 153.40%
Invested Capital Growth		 4.53% -13.51% 15.62% -2.34%
Revenue Q/Q Growth		 0.00% 1.56% 4.87% -0.72%
EBITDA Q/Q Growth		 0.00% 5.29% -3.20% 17.55%
EBIT Q/Q Growth		 0.00% -0.18% 2.12% 9.63%
NOPAT Q/Q Growth		 0.00% -1.03% 3.98% 7.54%
Net Income Q/Q Growth		 0.00% -1.03% 3.98% 7.54%
EPS Q/Q Growth		 0.00% -1.37% 3.49% 8.31%
Operating Cash Flow Q/Q Growth		 0.00% 13.15% -34.41% 13.73%
Free Cash Flow Firm Q/Q Growth		 197.99% 102.79% -1,128.34% -48.41%
Invested Capital Q/Q Growth		 -1.88% -3.75% 6.56% -1.42%
Profitability Metrics		 - - - -
EBITDA Margin		 39.67% 38.10% 44.85% 48.53%
EBIT Margin		 33.33% 32.76% 40.86% 41.71%
Profit (Net Income) Margin		 28.83% 25.73% 31.96% 31.71%
Tax Burden Percent		 86.50% 78.55% 78.21% 76.03%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 13.50% 21.45% 21.79% 23.97%
Return on Invested Capital (ROIC)		 6.97% 5.53% 6.11% 5.69%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.97% 5.53% 6.11% 5.69%
Return on Net Nonoperating Assets (RNNOA)		 7.34% 7.92% 8.74% 8.73%
Return on Equity (ROE)		 14.31% 13.46% 14.85% 14.42%
Cash Return on Invested Capital (CROIC)		 2.54% 20.03% -8.38% 8.06%
Operating Return on Assets (OROA)		 1.39% 1.45% 1.61% 1.55%
Return on Assets (ROA)		 1.20% 1.14% 1.26% 1.18%
Return on Common Equity (ROCE)		 13.76% 12.87% 14.20% 14.08%
Return on Equity Simple (ROE_SIMPLE)		 13.47% 12.79% 15.68% 12.35%
Net Operating Profit after Tax (NOPAT)		 44 37 41 36
NOPAT Margin		 28.83% 25.73% 31.96% 31.71%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 49.01% 49.69% 52.20% 53.20%
Operating Expenses to Revenue		 60.92% 61.55% 62.16% 63.44%
Earnings before Interest and Taxes (EBIT)		 51 47 52 47
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 61 55 57 55
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 1.21 1.16 1.17 0.82
Price to Tangible Book Value (P/TBV)		 1.25 1.22 1.23 0.86
Price to Revenue (P/Rev)		 2.49 2.25 2.27 2.02
Price to Earnings (P/E)		 8.81 8.94 7.22 6.37
Dividend Yield		 2.17% 2.34% 2.30% 2.65%
Earnings Yield		 11.36% 11.19% 13.84% 15.71%
Enterprise Value to Invested Capital (EV/IC)		 0.86 0.85 0.91 0.69
Enterprise Value to Revenue (EV/Rev)		 3.62 3.66 5.13 3.82
Enterprise Value to EBITDA (EV/EBITDA)		 9.14 9.60 11.45 7.88
Enterprise Value to EBIT (EV/EBIT)		 10.87 11.17 12.56 9.17
Enterprise Value to NOPAT (EV/NOPAT)		 12.57 14.22 16.06 12.06
Enterprise Value to Operating Cash Flow (EV/OCF)		 9.68 10.07 16.98 8.24
Enterprise Value to Free Cash Flow (EV/FCFF)		 34.53 3.93 0.00 8.51
Leverage & Solvency		 - - - -
Debt to Equity		 0.97 1.14 1.75 1.14
Long-Term Debt to Equity		 0.97 1.14 1.75 1.14
Financial Leverage		 1.05 1.43 1.43 1.53
Leverage Ratio		 11.91 11.79 11.79 12.26
Compound Leverage Factor		 11.91 11.79 11.79 12.26
Debt to Total Capital		 49.34% 53.33% 63.67% 53.33%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 49.34% 53.33% 63.67% 53.33%
Preferred Equity to Total Capital		 1.85% 1.93% 1.67% 1.93%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 48.81% 44.74% 34.66% 44.74%
Debt to EBITDA		 5.26 6.04 7.97 6.05
Net Debt to EBITDA		 2.67 3.49 6.18 3.50
Long-Term Debt to EBITDA		 5.26 6.04 7.97 6.05
Debt to NOPAT		 7.23 8.94 11.18 9.26
Net Debt to NOPAT		 3.67 5.17 8.67 5.35
Long-Term Debt to NOPAT		 7.23 8.94 11.18 9.26
Noncontrolling Interest Sharing Ratio		 3.88% 4.36% 4.36% 2.42%
Liquidity Ratios		 - - - -
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 16 134 -56 51
Operating Cash Flow to CapEx		 29,788.08% 1,813.18% 1,199.04% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.15 1.63 -2.44 4.47
Operating Cash Flow to Interest Expense		 0.53 0.64 1.68 4.61
Operating Cash Flow Less CapEx to Interest Expense		 0.53 0.60 1.54 4.61
Efficiency Ratios		 - - - -
Asset Turnover		 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 26.88 27.33 24.28 27.54
Capital & Investment Metrics		 - - - -
Invested Capital		 649 621 717 621
Invested Capital Turnover		 0.24 0.22 0.19 0.18
Increase / (Decrease) in Invested Capital		 28 -97 97 -15
Enterprise Value (EV)		 556 527 656 431
Market Capitalization		 382 323 290 228
Book Value per Share		 $38.17 $33.39 $29.49 $33.09
Tangible Book Value per Share		 $36.73 $31.94 $28.05 $31.65
Total Capital		 649 621 717 621
Total Debt		 320 331 457 331
Total Long-Term Debt		 320 331 457 331
Net Debt		 162 191 354 191
Capital Expenditures (CapEx)		 0.19 2.88 3.22 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 320 331 457 331
Total Depreciation and Amortization (D&A)		 9.73 7.69 5.10 7.69
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $5.20 $0.00 $0.00 $4.17
Adjusted Weighted Average Basic Shares Outstanding		 8.30M 0.00 0.00 8.46M
Adjusted Diluted Earnings per Share		 $5.20 $0.00 $0.00 $4.17
Adjusted Weighted Average Diluted Shares Outstanding		 8.30M 0.00 0.00 8.46M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 8.30M 0.00 0.00 8.46M
Normalized Net Operating Profit after Tax (NOPAT)		 44 37 41 36
Normalized NOPAT Margin		 28.83% 25.73% 31.96% 31.71%
Pre Tax Income Margin		 33.33% 32.76% 40.86% 41.71%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.47 0.57 2.28 4.15
NOPAT to Interest Expense		 0.41 0.45 1.78 3.15
EBIT Less CapEx to Interest Expense		 0.47 0.54 2.14 4.15
NOPAT Less CapEx to Interest Expense		 0.40 0.41 1.64 3.15
Payout Ratios		 - - - -
Dividend Payout Ratio		 20.78% 22.83% 18.04% 23.64%
Augmented Payout Ratio		 23.65% 30.85% 33.03% 31.95%

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 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		 12.60% 12.34% 2.82% 8.10% 3.28% 6.42% 8.64% 15.03% 21.88% 20.82% 20.69%
EBITDA Growth		 25.50% 27.54% 0.85% 19.55% -3.41% 3.03% -4.20% -22.28% 10.32% -14.86% 21.67%
EBIT Growth		 26.97% 22.67% 7.13% 13.94% -10.07% -0.66% -14.39% -26.64% 8.70% 9.47% 16.84%
NOPAT Growth		 26.25% 47.54% 5.88% 25.42% -1.46% -3.80% -8.17% -25.59% 3.54% 18.22% 17.70%
Net Income Growth		 26.25% 47.54% 5.88% 25.42% -1.46% -3.80% -8.17% -25.59% 3.54% 18.22% 17.70%
EPS Growth		 26.92% 49.56% 5.98% 25.51% -0.95% -5.04% -6.40% -24.03% 2.94% 15.53% 16.82%
Operating Cash Flow Growth		 30.15% 64.72% -16.38% 3.97% -12.37% 83.79% 12.89% -14.49% 372.31% -35.40% 49.26%
Free Cash Flow Firm Growth		 615.10% -112.86% -115.33% -90.49% -219.35% 222.96% 216.83% 215.47% -49.95% -469.66% -144.57%
Invested Capital Growth		 -8.37% 4.53% 2.55% -1.51% 3.35% -13.51% -4.26% -24.08% -0.32% 15.62% 6.97%
Revenue Q/Q Growth		 -0.77% 8.10% 0.28% 4.68% 0.00% -1.06% 5.42% 0.02% 2.00% 1.01% 11.62%
EBITDA Q/Q Growth		 -13.56% 21.77% 3.26% 15.46% 0.00% -3.71% 22.40% -6.71% -9.84% -10.47% -0.70%
EBIT Q/Q Growth		 -12.03% 18.82% 4.07% 16.73% 0.00% 3.77% 10.69% -7.87% -6.12% -10.58% -5.15%
NOPAT Q/Q Growth		 -22.50% 36.95% 0.67% 18.17% 0.00% -1.72% 19.24% -7.15% -11.59% -6.19% -3.37%
Net Income Q/Q Growth		 -22.50% 36.95% 0.67% 18.17% 0.00% -1.72% 19.24% -7.15% -11.59% -6.19% -3.37%
EPS Q/Q Growth		 -21.89% 36.29% 0.81% 18.27% 0.00% -3.42% 19.39% -6.67% -11.76% -4.80% -3.10%
Operating Cash Flow Q/Q Growth		 -48.55% 59.23% 5.70% 50.29% 0.00% -19.17% 31.43% 26.67% 36.58% -50.35% -0.45%
Free Cash Flow Firm Q/Q Growth		 595.84% -131.90% -129.32% 252.78% 0.00% 176.51% -81.81% 1,817.37% 112.75% -162.73% 82.02%
Invested Capital Q/Q Growth		 -4.01% -1.88% 4.43% -6.84% 0.00% -3.75% 0.30% -2.24% -8.36% 6.56% -20.47%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 38.99% 44.76% 39.73% 38.58% 34.98% 39.42% 40.51% 34.89% 37.41% 40.72% 45.94%
EBIT Margin		 32.96% 37.18% 33.82% 32.59% 29.23% 34.05% 32.46% 30.92% 33.57% 36.47% 41.20%
Profit (Net Income) Margin		 27.36% 35.03% 27.65% 27.54% 24.40% 26.67% 26.85% 23.74% 25.57% 29.50% 31.77%
Tax Burden Percent		 83.00% 94.22% 81.74% 84.51% 83.47% 78.33% 82.70% 76.78% 76.18% 80.89% 77.10%
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		 17.00% 5.78% 18.26% 15.49% 16.53% 21.67% 17.30% 23.23% 23.82% 19.11% 22.90%
Return on Invested Capital (ROIC)		 6.64% 8.47% 0.00% 0.00% 0.00% 5.74% 5.77% 4.42% 5.21% 5.64% 5.95%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.64% 8.47% 0.00% 0.00% 0.00% 5.74% 5.77% 4.42% 5.21% 5.64% 5.95%
Return on Net Nonoperating Assets (RNNOA)		 7.00% 8.92% 0.00% 0.00% 0.00% 8.21% 8.48% 8.18% 8.20% 8.07% 10.25%
Return on Equity (ROE)		 13.64% 17.39% 0.00% 0.00% 0.00% 13.95% 14.25% 12.61% 13.41% 13.71% 16.19%
Cash Return on Invested Capital (CROIC)		 15.88% 2.54% -2.52% 1.52% -3.30% 20.03% 10.03% 32.51% 6.57% -8.38% -0.70%
Operating Return on Assets (OROA)		 1.39% 1.55% 0.00% 0.00% 0.00% 1.51% 1.47% 1.42% 1.53% 1.44% 1.85%
Return on Assets (ROA)		 1.16% 1.46% 0.00% 0.00% 0.00% 1.18% 1.21% 1.09% 1.17% 1.16% 1.43%
Return on Common Equity (ROCE)		 13.12% 16.72% 0.00% 0.00% 0.00% 13.34% 13.61% 12.03% 12.78% 13.11% 15.79%
Return on Equity Simple (ROE_SIMPLE)		 13.86% 0.00% 0.00% 0.00% 0.00% 0.00% 13.33% 14.05% 15.44% 0.00% 15.53%
Net Operating Profit after Tax (NOPAT)		 11 14 11 10 8.85 9.77 9.94 8.34 8.98 10 11
NOPAT Margin		 27.36% 35.03% 27.65% 27.54% 24.40% 26.67% 26.85% 23.74% 25.57% 29.50% 31.77%
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		 48.39% 46.17% 47.50% 50.51% 52.24% 46.47% 49.18% 51.04% 52.22% 51.54% 49.58%
Operating Expenses to Revenue		 60.53% 56.26% 60.69% 62.90% 64.36% 58.93% 62.63% 62.73% 61.99% 61.49% 58.77%
Earnings before Interest and Taxes (EBIT)		 13 15 13 12 11 12 12 11 12 13 14
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 16 18 15 15 13 14 15 12 13 14 16
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.21 1.21 1.26 1.04 1.08 1.16 0.90 0.91 0.96 1.17 1.08
Price to Tangible Book Value (P/TBV)		 1.25 1.25 1.31 1.08 1.12 1.22 0.95 0.95 1.01 1.23 1.13
Price to Revenue (P/Rev)		 2.48 2.49 0.00 0.00 0.00 2.25 1.71 1.70 1.82 2.27 2.13
Price to Earnings (P/E)		 8.57 8.81 0.00 0.00 0.00 8.94 6.64 6.31 6.06 7.22 6.68
Dividend Yield		 2.21% 2.17% 2.14% 2.60% 2.52% 2.34% 3.02% 2.98% 2.81% 2.30% 2.53%
Earnings Yield		 11.67% 11.36% 0.00% 0.00% 0.00% 11.19% 15.05% 15.84% 16.51% 13.84% 14.98%
Enterprise Value to Invested Capital (EV/IC)		 0.83 0.86 0.92 0.89 0.93 0.85 0.75 0.79 0.00 0.91 0.86
Enterprise Value to Revenue (EV/Rev)		 3.29 3.62 0.00 0.00 0.00 3.66 3.43 3.64 0.00 5.13 4.76
Enterprise Value to EBITDA (EV/EBITDA)		 8.10 9.14 0.00 0.00 0.00 9.60 9.33 9.33 0.00 11.45 9.80
Enterprise Value to EBIT (EV/EBIT)		 9.62 10.87 0.00 0.00 0.00 11.17 10.28 10.27 0.00 12.56 11.35
Enterprise Value to NOPAT (EV/NOPAT)		 11.15 12.57 0.00 0.00 0.00 14.22 12.98 13.20 0.00 16.06 14.78
Enterprise Value to Operating Cash Flow (EV/OCF)		 8.64 9.68 0.00 0.00 0.00 10.07 10.51 11.41 0.00 16.98 9.85
Enterprise Value to Free Cash Flow (EV/FCFF)		 5.02 34.53 0.00 57.97 0.00 3.93 7.35 2.09 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.85 0.97 1.12 1.07 1.28 1.14 1.30 1.36 0.00 1.75 1.66
Long-Term Debt to Equity		 0.85 0.97 1.12 1.07 1.28 1.14 1.30 1.36 0.00 1.75 1.66
Financial Leverage		 1.05 1.05 1.20 1.21 1.37 1.43 1.47 1.85 1.57 1.43 1.72
Leverage Ratio		 11.79 11.91 12.04 11.91 11.86 11.79 11.75 11.56 11.51 11.79 11.36
Compound Leverage Factor		 11.79 11.91 12.04 11.91 11.86 11.79 11.75 11.56 11.51 11.79 11.36
Debt to Total Capital		 46.03% 49.34% 52.81% 51.79% 56.18% 53.33% 56.45% 57.58% 0.00% 63.67% 62.42%
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		 46.03% 49.34% 52.81% 51.79% 56.18% 53.33% 56.45% 57.58% 0.00% 63.67% 62.42%
Preferred Equity to Total Capital		 1.93% 1.85% 1.81% 1.89% 1.76% 1.93% 1.86% 1.87% 4.50% 1.67% 1.78%
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		 52.05% 48.81% 45.38% 46.31% 42.06% 44.74% 41.69% 40.55% 95.50% 34.66% 35.80%
Debt to EBITDA		 4.47 5.26 0.00 0.00 0.00 6.04 6.99 6.83 0.00 7.97 7.09
Net Debt to EBITDA		 1.81 2.67 0.00 0.00 0.00 3.49 4.44 4.75 0.00 6.18 5.22
Long-Term Debt to EBITDA		 4.47 5.26 0.00 0.00 0.00 6.04 6.99 6.83 0.00 7.97 7.09
Debt to NOPAT		 6.15 7.23 0.00 0.00 0.00 8.94 9.73 9.66 0.00 11.18 10.70
Net Debt to NOPAT		 2.49 3.67 0.00 0.00 0.00 5.17 6.17 6.72 0.00 8.67 7.87
Long-Term Debt to NOPAT		 6.15 7.23 0.00 0.00 0.00 8.94 9.73 9.66 0.00 11.18 10.70
Noncontrolling Interest Sharing Ratio		 3.78% 3.88% 4.05% 4.15% 4.25% 4.36% 4.49% 4.59% 4.69% 4.36% 2.51%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 68 -14 -5.92 20 -13 107 39 212 11 -87 -33
Operating Cash Flow to CapEx		 14,126.25% 52,295.24% 0.00% 0.00% 0.00% 4,301.29% 1,250.72% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 2.59 -0.51 -0.21 0.74 -0.50 4.23 1.73 10.93 0.72 -7.99 -5.60
Operating Cash Flow to Interest Expense		 0.43 0.81 0.49 0.48 0.33 0.53 0.74 0.65 0.65 0.67 2.48
Operating Cash Flow Less CapEx to Interest Expense		 0.43 0.81 0.51 0.48 0.33 0.52 0.68 0.65 0.65 0.67 2.48
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.00 0.00 0.00 0.04 0.05 0.05 0.05 0.04 0.04
Fixed Asset Turnover		 28.01 26.88 0.00 0.00 0.00 27.33 30.47 39.68 40.94 24.28 50.35
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 623 649 661 633 680 621 645 643 657 717 673
Invested Capital Turnover		 0.24 0.24 0.00 0.00 0.00 0.22 0.22 0.19 0.20 0.19 0.19
Increase / (Decrease) in Invested Capital		 -57 28 16 -9.72 22 -97 -29 -204 -2.09 97 44
Enterprise Value (EV)		 519 556 607 563 629 527 486 506 -116 656 581
Market Capitalization		 391 382 378 305 307 323 243 236 244 290 259
Book Value per Share		 $39.04 $38.17 $36.17 $35.37 $34.41 $33.39 $32.32 $31.43 $30.50 $29.49 $28.43
Tangible Book Value per Share		 $37.59 $36.73 $34.74 $33.94 $32.97 $31.94 $30.86 $29.97 $29.04 $28.05 $26.99
Total Capital		 623 649 661 633 680 621 645 643 267 717 673
Total Debt		 287 320 349 328 382 331 364 370 0.00 457 420
Total Long-Term Debt		 287 320 349 328 382 331 364 370 0.00 457 420
Net Debt		 116 162 217 247 310 191 231 257 -372 354 309
Capital Expenditures (CapEx)		 0.08 0.04 -0.62 0.00 -0.03 0.31 1.32 0.00 0.00 0.00 0.00
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)		 287 320 349 328 382 331 364 370 391 457 420
Total Depreciation and Amortization (D&A)		 2.46 3.12 2.25 2.28 2.09 1.97 2.98 1.39 1.35 1.46 1.62
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.32 $1.69 $1.24 $1.23 $1.04 $1.13 $1.17 $0.98 $1.05 $1.19 $1.25
Adjusted Weighted Average Basic Shares Outstanding		 8.32M 8.30M 8.30M 8.29M 8.29M 0.00 8.31M 8.32M 8.29M 8.35M 8.43M
Adjusted Diluted Earnings per Share		 $1.32 $1.69 $1.24 $1.23 $1.04 $1.13 $1.17 $0.98 $1.05 $1.19 $1.25
Adjusted Weighted Average Diluted Shares Outstanding		 8.32M 8.30M 8.30M 8.29M 8.29M 0.00 8.31M 8.32M 8.29M 8.35M 8.43M
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		 8.32M 8.30M 8.30M 8.29M 8.29M 0.00 8.31M 8.32M 8.29M 8.35M 8.43M
Normalized Net Operating Profit after Tax (NOPAT)		 11 14 11 10 8.85 9.77 9.94 8.34 8.98 10 11
Normalized NOPAT Margin		 27.36% 35.03% 27.65% 27.54% 24.40% 26.67% 26.85% 23.74% 25.57% 29.50% 31.77%
Pre Tax Income Margin		 32.96% 37.18% 33.82% 32.59% 29.23% 34.05% 32.46% 30.92% 33.57% 36.47% 41.20%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.51 0.57 0.45 0.45 0.40 0.49 0.54 0.56 0.77 1.16 2.38
NOPAT to Interest Expense		 0.43 0.53 0.37 0.38 0.34 0.39 0.44 0.43 0.58 0.93 1.83
EBIT Less CapEx to Interest Expense		 0.51 0.57 0.48 0.45 0.40 0.48 0.48 0.56 0.77 1.16 2.38
NOPAT Less CapEx to Interest Expense		 0.42 0.53 0.39 0.38 0.34 0.38 0.39 0.43 0.58 0.93 1.83
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 20.51% 20.78% 0.00% 0.00% 0.00% 22.83% 21.99% 20.91% 19.01% 18.04% 23.66%
Augmented Payout Ratio		 23.66% 23.65% 0.00% 0.00% 0.00% 30.85% 36.90% 39.42% 36.93% 33.03% 28.13%

Frequently Asked Questions About First Business Financial Services' Financials

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

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

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

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

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

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

How much debt does First Business Financial Services have?

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

How much cash does First Business Financial Services have?

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

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

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


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This page (NASDAQ:FBIZ) was last updated on 5/22/2025 by MarketBeat.com Staff
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