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FS Bancorp (FSBW) Financials

FS Bancorp logo
$43.48 -0.42 (-0.96%)
Closing price 04:00 PM Eastern
Extended Trading
$43.45 -0.03 (-0.07%)
As of 04:10 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for FS Bancorp

Annual Income Statements for FS Bancorp

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 8.88 10 14 24 23 39 37 30 36 35 33
Consolidated Net Income / (Loss)		 8.88 10 14 24 23 39 37 30 36 35 33
Net Income / (Loss) Continuing Operations		 8.88 10 14 24 23 39 37 30 36 35 33
Total Pre-Tax Income 		14 16 21 29 28 50 47 37 45 42 41
Total Revenue		 46 57 65 79 93 129 124 122 144 145 153
Net Interest Income / (Expense)		 28 34 41 52 70 74 87 104 123 123 130
Total Interest Income		 32 38 46 62 90 89 96 119 167 185 197
Loans and Leases Interest Income		 30 36 43 59 85 84 91 112 155 171 182
Investment Securities Interest Income		 1.29 2.25 2.72 3.71 4.92 4.71 5.64 7.05 12 14 15
Total Interest Expense		 3.66 4.16 4.93 10 19 15 9.73 14 44 62 67
Deposits Interest Expense		 3.23 3.25 3.92 7.32 16 12 6.93 9.42 37 53 58
Long-Term Debt Interest Expense		 0.43 0.91 1.01 2.91 3.16 2.74 2.80 4.99 7.14 8.57 9.17
Total Non-Interest Income		 18 24 24 27 23 55 38 18 20 22 22
Other Service Charges		 2.63 4.08 4.37 4.06 7.91 5.35 5.56 9.32 13 11 13
Net Realized & Unrealized Capital Gains on Investments		 15 19 19 22 14 49 31 7.92 6.71 9.08 8.28
Other Non-Interest Income		 0.22 0.28 0.27 0.41 0.87 0.87 0.87 0.88 0.92 0.99 1.04
Provision for Credit Losses		 2.25 2.40 0.75 1.54 2.88 13 0.50 6.22 4.77 5.51 9.55
Total Non-Interest Expense		 30 39 44 49 62 67 76 79 94 98 102
Salaries and Employee Benefits		 17 22 27 29 34 38 50 48 54 55 58
Net Occupancy & Equipment Expense		 3.44 4.54 5.19 5.91 9.61 9.12 9.84 11 13 15 15
Marketing Expense		 0.71 0.71 0.72 0.75 0.68 0.53 0.63 0.90 1.35 1.31 1.25
Property & Liability Insurance Claims		 0.31 0.49 0.54 0.52 0.36 0.83 0.64 1.22 2.39 2.01 2.31
Other Operating Expenses		 7.58 10 11 11 15 15 17 17 18 20 22
Amortization Expense		 0.00 0.52 0.40 0.35 0.76 0.71 0.69 0.69 3.46 3.63 3.19
Impairment Charge		 0.00 -0.15 - - 0.09 1.97 -2.06 -0.00 0.05 -0.04 0.05
Restructuring Charge		 0.88 0.39 0.00 1.39 1.76 0.00 0.00 0.90 1.56 0.00 0.00
Other Special Charges		 - - - - -0.14 0.00 0.01 0.00 -0.15 0.00 0.00
Income Tax Expense		 4.87 5.60 6.49 4.22 5.41 11 10 7.34 9.22 6.56 7.77
Basic Earnings per Share		 $2.98 $3.63 $4.55 $6.58 $5.13 $4.58 $4.48 $3.75 $4.63 $4.48 $4.35
Weighted Average Basic Shares Outstanding		 3.15M 3.07M 3.70M 4.50M 4.46M 4.23M 8.09M 7.74M 7.81M 7.76M 7.50M
Diluted Earnings per Share		 $2.93 $3.51 $4.28 $6.29 $5.01 $4.49 $4.37 $3.70 $4.56 $4.36 $4.29
Weighted Average Diluted Shares Outstanding		 3.15M 3.07M 3.70M 4.50M 4.46M 4.23M 8.09M 7.74M 7.81M 7.76M 7.50M
Weighted Average Basic & Diluted Shares Outstanding		 3.15M 3.07M 3.70M 4.50M 4.46M 4.23M 8.09M 7.74M 7.81M 7.76M 7.50M
Cash Dividends to Common per Share		 $0.25 $0.36 $0.41 $0.53 $0.65 $0.84 $0.56 $0.90 $1.00 $1.06 $1.34

Quarterly Income Statements for FS Bancorp

This table shows FS Bancorp's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 9.77 8.40 8.96 10 7.38 8.02 7.73 9.18 8.42 7.83 7.94
Consolidated Net Income / (Loss)		 9.77 8.40 8.96 10 7.38 8.02 7.73 9.18 8.42 7.83 7.94
Net Income / (Loss) Continuing Operations		 9.77 8.40 8.96 10 7.38 8.02 7.73 9.18 8.42 7.83 7.94
Total Pre-Tax Income 		12 11 11 9.87 9.85 9.46 9.76 12 10 9.90 10
Total Revenue		 36 35 36 37 36 36 37 39 40 38 39
Net Interest Income / (Expense)		 30 30 30 31 31 31 32 34 34 33 33
Total Interest Income		 44 45 46 47 47 47 49 51 51 49 50
Loans and Leases Interest Income		 41 41 42 44 44 43 45 47 47 46 46
Investment Securities Interest Income		 3.58 3.88 3.53 3.24 3.32 3.49 3.67 4.31 3.91 3.32 3.46
Total Interest Expense		 14 15 16 16 16 16 17 17 17 17 17
Deposits Interest Expense		 12 13 13 13 14 13 15 15 15 15 14
Long-Term Debt Interest Expense		 1.93 1.65 2.29 2.31 2.32 2.75 2.07 2.42 1.93 2.08 3.11
Total Non-Interest Income		 5.46 5.11 5.87 5.97 4.61 5.13 5.17 5.59 6.39 5.40 6.15
Other Service Charges		 3.80 2.82 3.01 3.04 2.62 3.18 2.94 2.89 3.96 2.76 3.31
Net Realized & Unrealized Capital Gains on Investments		 1.41 2.06 2.61 2.68 1.73 1.70 1.97 2.44 2.17 2.38 2.58
Other Non-Interest Income		 0.24 0.24 0.24 0.25 0.26 0.25 0.25 0.27 0.26 0.26 0.26
Provision for Credit Losses		 1.40 1.40 1.08 1.51 1.52 1.59 2.02 2.31 3.62 2.53 2.64
Total Non-Interest Expense		 22 24 24 26 24 25 26 25 26 26 26
Salaries and Employee Benefits		 13 14 13 14 14 15 14 14 15 15 16
Net Occupancy & Equipment Expense		 3.47 3.66 3.73 3.82 4.07 3.76 3.92 3.53 3.73 3.47 3.76
Marketing Expense		 0.28 0.23 0.38 0.38 0.33 0.22 0.40 0.26 0.37 0.31 0.45
Property & Liability Insurance Claims		 0.66 0.53 0.45 0.53 0.49 0.54 0.55 0.59 0.63 0.63 0.53
Other Operating Expenses		 4.41 4.52 5.06 5.72 4.99 5.18 5.70 5.81 5.80 5.28 4.66
Amortization Expense		 0.98 0.94 0.92 0.90 0.88 0.83 0.81 0.79 0.77 0.74 0.72
Impairment Charge		 0.05 0.09 -0.05 0.51 -0.58 -0.01 0.04 -0.01 0.03 -0.06 -0.00
Restructuring Charge		 - - - - - 0.00 0.00 - - 0.30 0.42
Income Tax Expense		 2.30 2.13 2.38 -0.42 2.47 1.44 2.03 2.41 1.89 2.07 2.12
Basic Earnings per Share		 $1.25 $1.07 $1.15 $1.32 $0.94 $1.02 $1.00 $1.20 $1.13 $1.04 $1.06
Weighted Average Basic Shares Outstanding		 7.81M 7.80M 7.75M 7.82M 7.76M 7.70M 7.60M 7.52M 7.50M 5.41M 7.43M
Diluted Earnings per Share		 $1.23 $1.06 $1.13 $1.29 $0.88 $1.01 $0.99 $1.18 $1.11 $1.02 $1.04
Weighted Average Diluted Shares Outstanding		 7.81M 7.80M 7.75M 7.82M 7.76M 7.70M 7.60M 7.52M 7.50M 5.41M 7.43M
Weighted Average Basic & Diluted Shares Outstanding		 7.81M 7.80M 7.75M 7.82M 7.76M 7.70M 7.60M 7.52M 7.50M 5.41M 7.43M

Annual Cash Flow Statements for FS Bancorp

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 8.90 12 -18 14 13 46 -65 15 24 -34 -3.42
Net Cash From Operating Activities		 -7.06 3.59 15 21 9.18 -32 109 185 78 51 72
Net Cash From Continuing Operating Activities		 -7.06 3.59 15 21 9.18 -32 109 185 78 51 72
Net Income / (Loss) Continuing Operations		 8.88 10 14 24 23 39 37 30 36 35 33
Consolidated Net Income / (Loss)		 8.88 10 14 24 23 39 37 30 36 35 33
Provision For Loan Losses		 2.25 2.40 0.75 1.54 2.88 13 0.50 6.22 4.77 5.51 9.55
Depreciation Expense		 2.43 5.21 3.94 5.26 12 14 15 14 13 11 12
Non-Cash Adjustments to Reconcile Net Income		 -21 -9.85 -5.10 -8.37 -21 -108 62 134 28 -3.15 17
Changes in Operating Assets and Liabilities, net		 0.43 -4.67 1.41 -1.35 -7.18 10 -5.73 1.19 -3.73 2.87 0.35
Net Cash From Investing Activities		 -140 53 -169 -187 -55 -271 -311 -504 78 -104 -206
Net Cash From Continuing Investing Activities		 -140 53 -169 -187 -55 -271 -311 -504 78 -104 -206
Purchase of Property, Leasehold Improvements and Equipment		 -1.51 -3.60 -1.02 -3.80 -2.46 -1.38 -1.98 -1.55 -1.67 -1.64 -20
Purchase of Investment Securities		 -130 -154 -246 -260 -102 -328 -343 -570 -279 -264 -267
Divestitures		 0.00 180 0.00 24 - - 0.00 0.00 336 0.00 0.00
Sale and/or Maturity of Investments		 11 30 78 53 50 59 34 67 22 161 81
Net Cash From Financing Activities		 156 -45 137 179 59 349 137 334 -131 19 131
Net Cash From Continuing Financing Activities		 156 -45 137 179 59 349 137 334 -131 19 131
Net Change in Deposits		 65 47 117 88 119 281 242 212 -31 -183 334
Issuance of Debt		 506 349 495 917 401 601 198 3,004 2,164 968 950
Repayment of Debt		 -415 -435 -500 -824 -454 -520 -282 -2,860 -2,257 -754 -1,128
Repurchase of Common Equity		 -0.10 -4.90 -0.28 -0.25 -5.00 -9.84 -14 -16 -0.22 -2.51 -15
Payment of Dividends		 -0.83 -1.09 -1.33 -1.92 -2.86 -3.57 -4.60 -7.10 -7.76 -8.27 -10
Other Financing Activities, Net		 0.19 0.19 0.67 1.12 0.71 -0.16 -2.29 0.88 0.39 -0.94 0.70
Cash Interest Paid		 3.66 4.16 4.90 10 19 15 8.17 11 39 63 65
Cash Income Taxes Paid		 3.95 6.11 8.10 2.90 4.35 12 11 4.69 10 2.37 0.18

Quarterly Cash Flow Statements for FS Bancorp

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -15 -20 -12 7.33 -8.71 31 -30 28 -33 10 -8.99
Net Cash From Operating Activities		 13 0.28 10 -0.63 41 8.18 7.15 45 12 8.71 52
Net Cash From Continuing Operating Activities		 13 0.28 10 -0.63 41 8.18 7.15 45 12 8.71 52
Net Income / (Loss) Continuing Operations		 9.77 8.40 8.96 10 7.38 8.02 7.73 9.18 8.42 7.83 7.94
Consolidated Net Income / (Loss)		 9.77 8.40 8.96 10 7.38 8.02 7.73 9.18 8.42 7.83 7.94
Provision For Loan Losses		 1.40 1.40 1.08 1.51 1.52 1.59 2.02 2.31 3.62 2.53 2.64
Depreciation Expense		 3.14 2.84 2.94 2.17 2.62 2.34 3.92 3.19 2.49 2.28 2.44
Non-Cash Adjustments to Reconcile Net Income		 0.52 -16 2.17 -16 28 -1.62 -13 27 5.67 -4.83 37
Changes in Operating Assets and Liabilities, net		 -2.21 4.13 -5.05 1.89 1.91 -2.16 6.92 3.43 -7.85 0.90 1.73
Net Cash From Investing Activities		 -65 2.57 12 -15 -104 -8.18 -133 -36 -29 2.23 -24
Net Cash From Continuing Investing Activities		 -65 2.57 12 -15 -104 -8.18 -133 -36 -29 2.23 -24
Purchase of Property, Leasehold Improvements and Equipment		 -0.28 -0.36 -0.28 -0.62 -0.38 -0.35 -1.29 -3.02 -16 -0.27 -0.57
Purchase of Investment Securities		 -69 -64 -57 -25 -118 -15 -154 -48 -51 -19 -40
Sale and/or Maturity of Investments		 4.52 66 70 10 15 6.77 22 15 37 22 17
Other Investing Activities, net		 - - - - - 0.00 - - - -0.45 -0.15
Net Cash From Financing Activities		 37 -23 -35 23 54 31 97 19 -16 -0.46 -37
Net Cash From Continuing Financing Activities		 37 -23 -35 23 54 31 97 19 -16 -0.46 -37
Net Change in Deposits		 68 -57 -83 45 -88 276 -62 133 -13 -36 -189
Issuance of Debt		 439 175 383 150 260 153 461 12 324 105 1,716
Repayment of Debt		 -467 -139 -331 -168 -116 -392 -296 -117 -324 -67 -1,559
Repurchase of Common Equity		 -0.22 0.00 - -0.15 - -3.76 -5.23 -4.90 -1.54 -0.62 -3.64
Payment of Dividends		 -1.95 -2.03 -2.03 -2.09 -2.11 -2.19 -2.16 -3.80 -2.11 -2.17 -2.16
Other Financing Activities, Net		 -0.28 -0.21 0.25 -0.89 -0.11 0.34 0.31 -0.20 0.25 0.41 0.21
Cash Interest Paid		 12 12 19 16 16 15 16 16 18 16 17
Cash Income Taxes Paid		 2.04 0.00 2.06 0.37 -0.07 0.03 0.02 0.04 0.10 0.00 3.73

Annual Balance Sheets for FS Bancorp

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 678 828 982 1,622 1,713 2,113 2,286 2,633 2,973 3,029 3,197
Cash and Due from Banks		 1.71 3.59 3.04 9.41 13 12 12 11 17 19 14
Interest Bearing Deposits at Other Banks		 23 33 16 23 33 80 14 31 49 12 15
Trading Account Securities		 100 134 136 148 126 186 279 229 301 8.46 33
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Loans Held for Sale		 - - - - 70 166 126 20 26 2,530 2,667
Premises and Equipment, Net		 14 16 15 29 29 27 27 25 31 30 44
Goodwill		 0.00 2.31 2.31 2.31 2.31 2.31 2.31 2.31 3.59 3.59 3.59
Intangible Assets		 0.00 1.72 1.32 6.22 5.46 4.75 4.06 3.37 17 14 11
Other Assets		 527 622 790 1,381 1,414 1,623 1,812 2,298 2,496 411 411
Total Liabilities & Shareholders' Equity		 678 828 982 1,622 1,713 2,113 2,286 2,633 2,973 3,029 3,197
Total Liabilities		 602 747 860 1,442 1,513 1,883 2,039 2,401 2,708 2,733 2,889
Non-Interest Bearing Deposits		 72 155 187 235 274 363 581 554 671 638 658
Interest Bearing Deposits		 413 558 643 1,040 1,119 1,311 1,335 1,574 1,851 1,701 2,016
Short-Term Debt		 99 13 7.53 137 - 166 - 187 94 308 129
Long-Term Debt		 9.81 -0.18 -0.16 -0.14 85 0.00 92 49 50 50 50
Other Long-Term Liabilities		 8.47 22 23 30 36 43 31 37 43 37 37
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 75 81 122 180 200 230 248 232 264 296 308
Total Preferred & Common Equity		 75 81 122 180 200 230 248 232 264 296 308
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 75 81 122 180 200 230 248 232 264 296 308
Common Stock		 31 27 55 92 89 81 68 55 57 56 43
Retained Earnings		 46 56 68 91 111 146 179 202 230 257 280
Accumulated Other Comprehensive Income / (Loss)		 0.08 -0.54 -0.48 -1.48 0.79 2.53 0.25 -26 -23 -17 -16

Quarterly Balance Sheets for FS Bancorp

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

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 2,783 2,906 2,920 2,970 2,941 2,970 3,066 3,176 3,209 3,204 3,179
Cash and Due from Banks		 21 18 18 17 20 18 19 15 12 12 13
Interest Bearing Deposits at Other Banks		 37 115 63 28 13 22 44 18 49 26 17
Trading Account Securities		 232 226 260 288 221 237 10 32 31 304 35
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Loans Held for Sale		 23 17 19 50 54 49 2,532 2,636 2,638 56 2,660
Premises and Equipment, Net		 32 31 31 30 30 30 29 30 32 44 43
Goodwill		 3.59 3.59 3.59 3.59 3.59 3.59 3.59 3.59 3.59 3.59 3.59
Intangible Assets		 20 19 18 16 15 15 13 12 11 9.77 9.05
Other Assets		 2,409 2,462 2,490 2,513 2,563 2,584 414 430 431 2,744 399
Total Liabilities & Shareholders' Equity		 2,783 2,906 2,920 2,970 2,941 2,970 3,066 3,176 3,209 3,204 3,179
Total Liabilities		 2,541 2,656 2,669 2,692 2,657 2,681 2,767 2,879 2,908 2,890 2,860
Non-Interest Bearing Deposits		 747 675 670 647 623 658 677 654 666 654 642
Interest Bearing Deposits		 1,696 1,690 1,784 1,818 1,759 1,770 1,938 1,899 2,021 1,984 1,807
Short-Term Debt		 - 200 122 130 182 164 69 234 129 167 325
Long-Term Debt		 7.01 -0.51 50 50 50 50 50 50 50 50 50
Other Long-Term Liabilities		 91 91 44 47 43 41 34 42 43 35 37
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 242 250 251 278 284 289 299 297 301 314 319
Total Preferred & Common Equity		 242 250 251 278 284 289 299 297 301 314 319
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 242 250 251 278 284 289 299 297 301 314 319
Common Stock		 56 57 58 58 56 55 53 48 44 44 41
Retained Earnings		 208 216 223 237 244 252 263 269 274 286 292
Accumulated Other Comprehensive Income / (Loss)		 -23 -22 -29 -16 -16 -18 -17 -20 -17 -16 -14

Annual Metrics And Ratios for FS Bancorp

This table displays calculated financial ratios and metrics derived from FS Bancorp's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 3,241,120.00 3,057,753.00 3,674,902.00 3,736,960.00 4,452,872.00 4,240,828.00 8,187,383.00 - - - 7,518,462.00
DEI Adjusted Shares Outstanding		 6,482,240.00 6,115,506.00 7,349,804.00 7,473,920.00 8,905,744.00 8,481,656.00 8,187,383.00 - - - 7,518,462.00
DEI Earnings Per Adjusted Shares Outstanding		 1.37 1.72 1.92 3.26 2.55 4.63 4.57 - - - 4.44
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 41.86% 25.82% 13.75% 20.86% 18.23% 38.71% -4.11% -1.43% 17.49% 0.60% 5.55%
EBITDA Growth		 75.82% 31.73% 15.03% 38.00% 18.62% 58.14% -1.36% -18.55% 13.59% -9.97% 1.74%
EBIT Growth		 112.47% 17.12% 27.80% 38.83% -1.54% 77.21% -4.87% -22.00% 22.40% -8.15% -1.11%
NOPAT Growth		 95.51% 18.29% 34.16% 72.86% -6.69% 72.84% -4.72% -20.75% 21.60% -2.85% -4.79%
Net Income Growth		 95.51% 18.29% 34.16% 72.86% -6.69% 72.84% -4.72% -20.75% 21.60% -2.85% -4.79%
EPS Growth		 92.76% 19.80% 21.94% 46.96% -20.35% 72.84% -2.67% -15.33% 23.24% -4.39% -1.61%
Operating Cash Flow Growth		 -75.39% 150.80% 320.40% 42.12% -57.19% -452.15% 437.31% 69.62% -57.99% -34.56% 42.28%
Free Cash Flow Firm Growth		 -14,345.44% 209.46% -121.57% -650.49% 133.54% -230.64% 231.08% -205.13% 197.33% -319.20% 194.83%
Invested Capital Growth		 121.93% -49.15% 38.33% 145.06% -10.11% 38.89% -14.25% 37.79% -12.81% 60.18% -25.44%
Revenue Q/Q Growth		 5.25% 5.54% 3.03% 15.63% -4.33% 9.89% -3.19% 2.02% 2.07% -0.13% 2.89%
EBITDA Q/Q Growth		 13.47% 6.59% 4.92% 27.58% -10.08% 17.36% -6.80% -2.03% 3.79% -5.01% 0.64%
EBIT Q/Q Growth		 10.13% 4.67% 6.30% 38.53% -18.78% 18.66% -7.41% -2.86% 5.87% -5.08% 1.14%
NOPAT Q/Q Growth		 5.77% 5.31% 8.75% 49.28% -20.33% 16.10% -6.77% -3.35% 6.34% -6.39% 3.21%
Net Income Q/Q Growth		 5.77% 5.31% 8.75% 49.28% -20.33% 16.10% -6.77% -3.35% 6.34% -6.39% 3.21%
EPS Q/Q Growth		 4.64% 5.41% 3.13% 44.27% -21.72% 16.10% -10.82% -7.04% 4.83% -7.43% 5.67%
Operating Cash Flow Q/Q Growth		 64.68% 127.35% -46.02% -33.91% 1,639.77% 62.67% -34.57% 6.61% -9.67% 127.12% -28.75%
Free Cash Flow Firm Q/Q Growth		 -145.41% 214.58% -336.13% -118.19% 338.47% 19.84% -38.23% 41.23% 3.59% -391.55% 264.23%
Invested Capital Q/Q Growth		 38.80% -15.29% 0.80% 44.43% 5.16% 0.44% 20.21% -2.73% -3.39% 30.04% 1.50%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 35.45% 37.11% 37.53% 42.85% 43.00% 49.02% 50.42% 41.66% 40.28% 36.05% 34.75%
EBIT Margin		 30.12% 28.04% 31.50% 36.19% 30.14% 38.50% 38.19% 30.22% 31.48% 28.74% 26.93%
Profit (Net Income) Margin		 19.45% 18.28% 21.56% 30.84% 24.34% 30.32% 30.13% 24.23% 25.07% 24.21% 21.84%
Tax Burden Percent		 64.56% 65.20% 68.44% 85.22% 80.76% 78.76% 78.90% 80.16% 79.64% 84.23% 81.09%
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		 35.44% 34.80% 31.56% 14.78% 19.24% 21.24% 21.11% 19.84% 20.36% 15.77% 18.91%
Return on Invested Capital (ROIC)		 6.65% 7.57% 12.64% 10.91% 7.55% 11.53% 10.18% 7.35% 8.24% 6.60% 5.85%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.65% 7.57% 12.64% 10.91% 7.55% 11.53% 10.18% 7.35% 8.24% 6.60% 5.85%
Return on Net Nonoperating Assets (RNNOA)		 5.92% 5.86% 1.24% 5.21% 4.40% 6.72% 5.49% 5.03% 6.30% 5.90% 5.20%
Return on Equity (ROE)		 12.57% 13.43% 13.87% 16.12% 11.95% 18.25% 15.67% 12.37% 14.53% 12.50% 11.05%
Cash Return on Invested Capital (CROIC)		 -69.10% 72.73% -19.53% -73.17% 18.20% -21.02% 25.52% -24.43% 21.93% -39.66% 35.00%
Operating Return on Assets (OROA)		 2.32% 2.14% 2.27% 2.19% 1.69% 2.61% 2.16% 1.50% 1.62% 1.39% 1.32%
Return on Assets (ROA)		 1.50% 1.39% 1.56% 1.87% 1.36% 2.05% 1.70% 1.21% 1.29% 1.17% 1.07%
Return on Common Equity (ROCE)		 12.57% 13.43% 13.87% 16.12% 11.95% 18.25% 15.67% 12.37% 14.53% 12.50% 11.05%
Return on Equity Simple (ROE_SIMPLE)		 11.78% 12.96% 11.54% 13.52% 11.34% 17.07% 15.12% 12.80% 13.63% 11.84% 10.84%
Net Operating Profit after Tax (NOPAT)		 8.88 10 14 24 23 39 37 30 36 35 33
NOPAT Margin		 19.45% 18.28% 21.56% 30.84% 24.34% 30.32% 30.13% 24.23% 25.07% 24.21% 21.84%
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		 45.75% 47.42% 49.76% 44.58% 47.25% 36.88% 48.48% 48.83% 47.43% 49.55% 48.45%
Operating Expenses to Revenue		 64.95% 67.78% 67.35% 61.86% 66.78% 51.43% 61.41% 64.70% 65.20% 67.45% 66.82%
Earnings before Interest and Taxes (EBIT)		 14 16 21 29 28 50 47 37 45 42 41
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 16 21 25 34 40 63 63 51 58 52 53
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.95 1.17 1.43 0.78 1.26 0.91 1.02 1.04 1.05 1.08 0.99
Price to Tangible Book Value (P/TBV)		 0.95 1.23 1.47 0.82 1.31 0.94 1.05 1.07 1.14 1.14 1.04
Price to Revenue (P/Rev)		 1.56 1.64 2.66 1.78 2.70 1.62 2.04 1.97 1.93 2.20 2.00
Price to Earnings (P/E)		 8.04 8.99 12.35 5.76 11.09 5.35 6.76 8.12 7.72 9.10 9.16
Dividend Yield		 1.23% 1.20% 0.91% 1.41% 1.15% 1.70% 1.80% 2.56% 2.80% 2.60% 2.76%
Earnings Yield		 12.44% 11.12% 8.10% 17.35% 9.02% 18.69% 14.78% 12.31% 12.96% 10.99% 10.92%
Enterprise Value to Invested Capital (EV/IC)		 0.78 0.59 1.11 0.70 0.95 0.69 0.91 0.92 0.81 0.98 0.94
Enterprise Value to Revenue (EV/Rev)		 3.13 0.96 2.21 2.82 2.89 2.10 2.48 3.52 2.31 4.44 2.99
Enterprise Value to EBITDA (EV/EBITDA)		 8.84 2.59 5.88 6.58 6.73 4.29 4.92 8.45 5.73 12.33 8.60
Enterprise Value to EBIT (EV/EBIT)		 10.41 3.43 7.01 7.79 9.60 5.46 6.49 11.65 7.33 15.46 11.10
Enterprise Value to NOPAT (EV/NOPAT)		 16.12 5.26 10.24 9.14 11.88 6.93 8.23 14.53 9.20 18.35 13.69
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 15.38 9.56 10.38 29.42 0.00 2.83 2.33 4.27 12.65 6.31
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.55 0.00 0.00 4.93 0.00 3.28 0.00 3.46 0.00 2.29
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.44 0.15 0.06 0.76 0.42 0.72 0.37 1.02 0.54 1.21 0.58
Long-Term Debt to Equity		 0.13 0.00 0.00 0.00 0.42 0.00 0.37 0.21 0.19 0.17 0.16
Financial Leverage		 0.89 0.77 0.10 0.48 0.58 0.58 0.54 0.68 0.76 0.89 0.89
Leverage Ratio		 8.41 9.63 8.91 8.62 8.77 8.89 9.21 10.27 11.30 10.71 10.32
Compound Leverage Factor		 8.41 9.63 8.91 8.62 8.77 8.89 9.21 10.27 11.30 10.71 10.32
Debt to Total Capital		 59.04% 13.36% 5.70% 43.22% 29.74% 41.89% 27.08% 50.46% 35.14% 54.72% 36.82%
Short-Term Debt to Total Capital		 53.70% 13.55% 5.82% 43.26% 0.00% 41.89% 0.00% 39.88% 22.99% 47.13% 26.55%
Long-Term Debt to Total Capital		 5.33% -0.19% -0.12% -0.04% 29.74% 0.00% 27.08% 10.58% 12.15% 7.59% 10.27%
Preferred Equity 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%
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		 40.96% 86.64% 94.30% 56.79% 70.26% 58.11% 72.92% 49.54% 64.86% 45.28% 63.18%
Debt to EBITDA		 6.71 0.59 0.30 4.05 2.11 2.61 1.47 4.63 2.47 6.85 3.38
Net Debt to EBITDA		 4.43 -1.84 -1.21 2.43 0.45 0.98 0.88 3.72 0.92 6.21 2.85
Long-Term Debt to EBITDA		 0.61 -0.01 -0.01 0.00 2.11 0.00 1.47 0.97 0.86 0.95 0.94
Debt to NOPAT		 12.23 1.19 0.52 5.63 3.73 4.22 2.46 7.96 3.97 10.20 5.38
Net Debt to NOPAT		 8.08 -3.73 -2.11 3.37 0.80 1.58 1.47 6.40 1.48 9.25 4.53
Long-Term Debt to NOPAT		 1.10 -0.02 -0.01 -0.01 3.73 0.00 2.46 1.67 1.37 1.42 1.50
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -92 101 -22 -163 55 -72 94 -99 96 -210 200
Operating Cash Flow to CapEx		 -467.13% 99.81% 1,484.65% 564.73% 372.59% -2,343.51% 5,494.41% 11,921.21% 4,648.06% 3,108.44% 354.93%
Free Cash Flow to Firm to Interest Expense		 -25.20 24.23 -4.41 -15.97 2.84 -4.86 9.65 -6.84 2.19 -3.41 2.98
Operating Cash Flow to Interest Expense		 -1.93 0.86 3.06 2.10 0.48 -2.20 11.21 12.83 1.77 0.82 1.08
Operating Cash Flow Less CapEx to Interest Expense		 -2.34 0.00 2.85 1.72 0.35 -2.29 11.01 12.72 1.73 0.80 0.78
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.08 0.08 0.07 0.06 0.06 0.07 0.06 0.05 0.05 0.05 0.05
Fixed Asset Turnover		 3.33 3.85 4.15 3.54 3.23 4.61 4.60 4.73 5.16 4.80 4.14
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 184 94 129 317 285 396 339 468 408 653 487
Invested Capital Turnover		 0.34 0.41 0.59 0.35 0.31 0.38 0.34 0.30 0.33 0.27 0.27
Increase / (Decrease) in Invested Capital		 101 -90 36 188 -32 111 -56 128 -60 245 -166
Enterprise Value (EV)		 143 55 144 222 270 272 308 431 332 643 456
Market Capitalization		 71 94 174 140 252 210 253 241 278 319 305
Book Value per Share		 $23.25 $26.50 $33.20 $48.18 $44.97 $54.24 $30.23 $30.07 $33.92 $37.84 $40.93
Tangible Book Value per Share		 $23.25 $25.18 $32.21 $45.90 $43.22 $52.57 $29.45 $29.34 $31.23 $35.62 $39.05
Total Capital		 184 94 129 317 285 396 339 468 408 653 487
Total Debt		 109 12 7.37 137 85 166 92 236 143 357 179
Total Long-Term Debt		 9.81 -0.18 -0.16 -0.14 85 0.00 92 49 50 50 50
Net Debt		 72 -39 -30 82 18 62 55 190 53 324 151
Capital Expenditures (CapEx)		 1.51 3.60 1.02 3.80 2.46 1.38 1.98 1.55 1.67 1.64 20
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)		 109 12 7.37 137 85 166 92 236 143 357 179
Total Depreciation and Amortization (D&A)		 2.43 5.21 3.94 5.26 12 14 15 14 13 11 12
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.49 $1.82 $2.28 $3.29 $2.57 $4.57 $4.42 $3.75 $4.63 $4.48 $4.35
Adjusted Weighted Average Basic Shares Outstanding		 6.30M 6.13M 7.39M 8.99M 8.92M 8.47M 8.09M 7.74M 7.81M 7.76M 7.50M
Adjusted Diluted Earnings per Share		 $1.47 $1.76 $2.14 $3.15 $2.51 $4.49 $4.32 $3.70 $4.56 $4.36 $4.29
Adjusted Weighted Average Diluted Shares Outstanding		 6.30M 6.13M 7.39M 8.99M 8.92M 8.47M 8.09M 7.74M 7.81M 7.76M 7.50M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $2.57 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 6.30M 6.13M 7.39M 8.99M 8.92M 8.47M 8.09M 7.74M 7.81M 7.76M 7.50M
Normalized Net Operating Profit after Tax (NOPAT)		 9.44 11 14 26 24 41 36 30 37 35 33
Normalized NOPAT Margin		 20.69% 18.55% 21.56% 32.34% 25.82% 31.52% 28.83% 24.81% 25.88% 24.19% 21.87%
Pre Tax Income Margin		 30.12% 28.04% 31.50% 36.19% 30.14% 38.50% 38.19% 30.22% 31.48% 28.74% 26.93%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.76 3.87 4.17 2.79 1.46 3.39 4.88 2.57 1.03 0.67 0.62
NOPAT to Interest Expense		 2.43 2.52 2.86 2.38 1.18 2.67 3.85 2.06 0.82 0.57 0.50
EBIT Less CapEx to Interest Expense		 3.35 3.00 3.97 2.42 1.33 3.29 4.67 2.46 0.99 0.65 0.31
NOPAT Less CapEx to Interest Expense		 2.01 1.66 2.65 2.01 1.05 2.57 3.64 1.95 0.78 0.54 0.19
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 9.31% 10.38% 9.45% 7.87% 12.57% 9.10% 12.30% 23.93% 21.54% 23.60% 30.77%
Augmented Payout Ratio		 10.44% 57.08% 11.40% 8.90% 34.60% 34.15% 49.62% 76.64% 22.15% 30.76% 77.03%

Quarterly Metrics And Ratios for FS Bancorp

This table displays calculated financial ratios and metrics derived from FS Bancorp's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - 7,762,827.00 7,697,429.00 7,596,336.00 7,518,462.00 7,501,542.00 5,414,542.00
DEI Adjusted Shares Outstanding		 - - - - - 7,762,827.00 7,697,429.00 7,596,336.00 7,518,462.00 7,501,542.00 5,414,542.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - 1.03 1.00 1.21 1.12 1.04 1.47
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 8.83% -1.18% -0.32% 4.48% -0.52% 1.84% 2.79% 5.57% 11.99% 5.09% 4.07%
EBITDA Growth		 16.15% -1.79% -0.36% -18.47% -18.07% -11.72% -4.18% 22.72% 2.69% 3.20% -8.66%
EBIT Growth		 26.27% 2.73% -1.13% -14.07% -18.43% -10.14% -13.90% 17.44% 4.69% 4.61% 3.01%
NOPAT Growth		 28.21% 2.25% -1.72% 14.89% -24.46% -4.48% -13.74% -10.78% 14.06% -2.38% 2.69%
Net Income Growth		 28.21% 2.25% -1.72% 14.89% -24.46% -4.48% -13.74% -10.78% 14.06% -2.38% 2.69%
EPS Growth		 25.51% 1.92% -2.59% 14.16% -28.46% -4.72% -12.39% -8.53% 26.14% 0.99% 5.05%
Operating Cash Flow Growth		 -39.70% -98.50% -57.38% -102.75% 225.14% 2,873.09% -27.89% 5,109.65% -70.25% 6.56% 627.65%
Free Cash Flow Firm Growth		 157.78% -761.49% 59.18% -203.29% -441.51% 124.07% -1.92% 145.26% 173.35% -319.48% -78.42%
Invested Capital Growth		 -12.81% 83.82% 14.72% 19.00% 60.18% -8.78% 12.81% -4.47% -25.44% 27.22% 19.25%
Revenue Q/Q Growth		 0.83% -1.26% 2.29% 2.60% -4.00% 1.07% 3.25% 5.37% 1.85% -5.16% 2.25%
EBITDA Q/Q Growth		 3.06% -12.19% 6.81% -15.65% 3.56% -5.38% 15.93% 8.02% -13.34% -4.91% 2.61%
EBIT Q/Q Growth		 5.17% -12.81% 7.66% -12.96% -0.15% -3.96% 3.15% 18.73% -11.00% -4.03% 1.58%
NOPAT Q/Q Growth		 9.15% -14.07% 6.69% 14.81% -28.23% 8.66% -3.65% 18.75% -8.25% -7.01% 1.35%
Net Income Q/Q Growth		 9.15% -14.07% 6.69% 14.81% -28.23% 8.66% -3.65% 18.75% -8.25% -7.01% 1.35%
EPS Q/Q Growth		 8.85% -13.82% 6.60% 14.16% -31.78% 14.77% -1.98% 19.19% -5.93% -8.11% 1.96%
Operating Cash Flow Q/Q Growth		 -44.77% -97.81% 3,544.04% -106.23% 6,631.16% -80.31% -12.60% 524.63% -72.32% -29.49% 496.85%
Free Cash Flow Firm Q/Q Growth		 2.95% -387.21% 71.43% -22.25% -240.38% 120.24% -221.00% 154.28% 451.69% -160.57% 1.64%
Invested Capital Q/Q Growth		 -3.39% 12.18% 12.69% -2.56% 30.04% -36.12% 39.36% -17.49% 1.50% 9.00% 30.64%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 42.38% 37.69% 39.36% 32.36% 34.90% 32.67% 36.69% 37.61% 32.00% 32.09% 32.20%
EBIT Margin		 33.63% 29.70% 31.25% 26.51% 27.58% 26.20% 26.18% 29.50% 25.78% 26.08% 25.91%
Profit (Net Income) Margin		 27.21% 23.68% 24.70% 27.64% 20.66% 22.21% 20.73% 23.36% 21.05% 20.63% 20.45%
Tax Burden Percent		 80.92% 79.75% 79.04% 104.26% 74.94% 84.78% 79.19% 79.20% 81.64% 79.11% 78.94%
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		 19.08% 20.25% 20.96% -4.26% 25.06% 15.22% 20.81% 20.80% 18.36% 20.89% 21.06%
Return on Invested Capital (ROIC)		 8.94% 9.61% 7.34% 8.66% 5.64% 7.38% 5.53% 7.06% 5.64% 6.73% 5.01%
ROIC Less NNEP Spread (ROIC-NNEP)		 8.94% 9.61% 7.34% 8.66% 5.64% 7.38% 5.53% 7.06% 5.64% 6.73% 5.01%
Return on Net Nonoperating Assets (RNNOA)		 6.83% 3.45% 5.92% 6.18% 5.04% 3.81% 4.91% 4.70% 5.01% 3.68% 5.35%
Return on Equity (ROE)		 15.77% 13.06% 13.25% 14.84% 10.67% 11.19% 10.44% 11.76% 10.65% 10.41% 10.36%
Cash Return on Invested Capital (CROIC)		 21.93% -48.80% -6.24% -9.26% -39.66% 17.11% -5.95% 11.16% 35.00% -16.97% -12.33%
Operating Return on Assets (OROA)		 1.73% 1.48% 1.53% 1.30% 1.33% 1.26% 1.25% 1.42% 1.26% 1.29% 1.27%
Return on Assets (ROA)		 1.40% 1.18% 1.21% 1.36% 1.00% 1.07% 0.99% 1.12% 1.03% 1.02% 1.00%
Return on Common Equity (ROCE)		 15.77% 13.06% 13.25% 14.84% 10.67% 11.19% 10.44% 11.76% 10.65% 10.41% 10.36%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 13.04% 12.70% 12.95% 0.00% 11.59% 11.24% 10.75% 0.00% 10.56% 10.46%
Net Operating Profit after Tax (NOPAT)		 9.77 8.40 8.96 10 7.38 8.02 7.73 9.18 8.42 7.83 7.94
NOPAT Margin		 27.21% 23.68% 24.70% 27.64% 20.66% 22.21% 20.73% 23.36% 21.05% 20.63% 20.45%
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		 45.91% 49.21% 48.20% 48.86% 51.99% 51.28% 49.36% 46.33% 47.12% 49.10% 50.98%
Operating Expenses to Revenue		 62.47% 66.36% 65.78% 69.42% 68.16% 69.39% 68.40% 64.63% 65.17% 67.25% 67.28%
Earnings before Interest and Taxes (EBIT)		 12 11 11 9.87 9.85 9.46 9.76 12 10 9.90 10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 15 13 14 12 12 12 14 15 13 12 12
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.05 0.96 0.99 1.19 1.08 0.95 1.01 1.00 0.99 0.92 0.73
Price to Tangible Book Value (P/TBV)		 1.14 1.03 1.07 1.27 1.14 1.00 1.06 1.05 1.04 0.96 0.76
Price to Revenue (P/Rev)		 1.93 1.86 1.97 2.37 2.20 1.95 2.05 2.03 2.00 1.86 1.50
Price to Earnings (P/E)		 7.72 7.37 7.82 9.16 9.10 8.17 8.96 9.32 9.16 8.67 7.00
Dividend Yield		 2.80% 2.95% 2.82% 2.35% 2.60% 2.96% 2.83% 3.36% 2.76% 2.95% 2.64%
Earnings Yield		 12.96% 13.58% 12.78% 10.91% 10.99% 12.23% 11.17% 10.73% 10.92% 11.53% 14.29%
Enterprise Value to Invested Capital (EV/IC)		 0.81 0.83 0.91 1.00 0.98 0.81 0.95 0.87 0.94 0.88 0.83
Enterprise Value to Revenue (EV/Rev)		 2.31 2.64 3.27 3.48 4.44 2.32 3.76 2.82 2.99 3.01 3.71
Enterprise Value to EBITDA (EV/EBITDA)		 5.73 6.55 8.12 9.18 12.33 6.68 11.01 7.95 8.60 8.72 11.07
Enterprise Value to EBIT (EV/EBIT)		 7.33 8.29 10.30 11.50 15.46 8.33 14.13 10.31 11.10 11.21 13.82
Enterprise Value to NOPAT (EV/NOPAT)		 9.20 10.43 12.97 13.47 18.35 9.74 16.46 12.97 13.69 14.05 17.33
Enterprise Value to Operating Cash Flow (EV/OCF)		 4.27 6.35 10.20 22.52 12.65 5.75 9.83 4.13 6.31 6.39 4.91
Enterprise Value to Free Cash Flow (EV/FCFF)		 3.46 0.00 0.00 0.00 0.00 4.51 0.00 7.65 2.29 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.54 0.65 0.81 0.74 1.21 0.40 0.96 0.60 0.58 0.69 1.17
Long-Term Debt to Equity		 0.19 0.18 0.17 0.17 0.17 0.17 0.17 0.17 0.16 0.16 0.16
Financial Leverage		 0.76 0.36 0.81 0.71 0.89 0.52 0.89 0.67 0.89 0.55 1.07
Leverage Ratio		 11.30 11.07 10.95 10.92 10.71 10.46 10.52 10.48 10.32 10.23 10.31
Compound Leverage Factor		 11.30 11.07 10.95 10.92 10.71 10.46 10.52 10.48 10.32 10.23 10.31
Debt to Total Capital		 35.14% 39.24% 44.90% 42.48% 54.72% 28.38% 48.89% 37.37% 36.82% 40.88% 54.00%
Short-Term Debt to Total Capital		 22.99% 28.41% 35.29% 32.61% 47.13% 16.49% 40.29% 26.95% 26.55% 31.52% 46.79%
Long-Term Debt to Total Capital		 12.15% 10.83% 9.61% 9.87% 7.59% 11.89% 8.60% 10.42% 10.27% 9.36% 7.21%
Preferred Equity 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%
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		 64.86% 60.76% 55.10% 57.52% 45.28% 71.62% 51.11% 62.63% 63.18% 59.12% 46.00%
Debt to EBITDA		 2.47 3.11 4.02 3.89 6.85 2.34 5.69 3.40 3.38 4.06 7.17
Net Debt to EBITDA		 0.92 1.92 3.22 2.93 6.21 1.08 5.02 2.24 2.85 3.34 6.60
Long-Term Debt to EBITDA		 0.86 0.86 0.86 0.90 0.95 0.98 1.00 0.95 0.94 0.93 0.96
Debt to NOPAT		 3.97 4.95 6.41 5.70 10.20 3.42 8.51 5.55 5.38 6.54 11.23
Net Debt to NOPAT		 1.48 3.06 5.15 4.30 9.25 1.57 7.51 3.65 4.53 5.38 10.33
Long-Term Debt to NOPAT		 1.37 1.37 1.37 1.33 1.42 1.43 1.50 1.55 1.50 1.50 1.50
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 70 -200 -57 -70 -238 48 -58 32 175 -106 -104
Operating Cash Flow to CapEx		 4,577.90% 77.59% 3,670.55% -101.29% 10,754.19% 2,336.00% 553.10% 1,476.55% 78.65% 3,191.21% 9,058.89%
Free Cash Flow to Firm to Interest Expense		 4.98 -13.77 -3.68 -4.43 -15.01 3.05 -3.51 1.83 10.17 -6.30 -6.11
Operating Cash Flow to Interest Expense		 0.90 0.02 0.65 -0.04 2.59 0.52 0.43 2.58 0.72 0.52 3.06
Operating Cash Flow Less CapEx to Interest Expense		 0.88 -0.01 0.63 -0.08 2.57 0.50 0.35 2.41 -0.20 0.50 3.02
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05
Fixed Asset Turnover		 5.16 4.62 4.67 4.75 4.80 4.86 4.87 4.75 4.14 4.23 4.24
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 408 457 515 502 653 417 582 480 487 531 693
Invested Capital Turnover		 0.33 0.41 0.30 0.31 0.27 0.33 0.27 0.30 0.27 0.33 0.24
Increase / (Decrease) in Invested Capital		 -60 209 66 80 245 -40 66 -22 -166 114 112
Enterprise Value (EV)		 332 378 468 504 643 338 550 419 456 466 578
Market Capitalization		 278 267 282 343 319 283 299 301 305 287 233
Book Value per Share		 $33.92 $35.61 $36.43 $37.29 $37.84 $38.82 $38.61 $39.56 $40.93 $41.84 $42.92
Tangible Book Value per Share		 $31.23 $33.04 $33.99 $34.94 $35.62 $36.68 $36.58 $37.60 $39.05 $40.06 $41.22
Total Capital		 408 457 515 502 653 417 582 480 487 531 693
Total Debt		 143 179 231 213 357 118 284 179 179 217 375
Total Long-Term Debt		 50 50 50 50 50 50 50 50 50 50 50
Net Debt		 53 111 186 161 324 54 251 118 151 178 345
Capital Expenditures (CapEx)		 0.28 0.36 0.28 0.62 0.38 0.35 1.29 3.02 16 0.27 0.57
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)		 143 179 231 213 357 118 284 179 179 217 375
Total Depreciation and Amortization (D&A)		 3.14 2.84 2.94 2.17 2.62 2.34 3.92 3.19 2.49 2.28 2.44
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.25 $1.07 $1.15 $1.32 $0.94 $1.02 $1.00 $1.20 $1.13 $1.04 $1.06
Adjusted Weighted Average Basic Shares Outstanding		 7.81M 7.80M 7.75M 7.82M 7.76M 7.70M 7.60M 7.52M 7.50M 5.41M 7.43M
Adjusted Diluted Earnings per Share		 $1.23 $1.06 $1.13 $1.29 $0.88 $1.01 $0.99 $1.18 $1.11 $1.02 $1.04
Adjusted Weighted Average Diluted Shares Outstanding		 7.81M 7.80M 7.75M 7.82M 7.76M 7.70M 7.60M 7.52M 7.50M 5.41M 7.43M
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		 7.81M 7.80M 7.75M 7.82M 7.76M 7.70M 7.60M 7.52M 7.50M 5.41M 7.43M
Normalized Net Operating Profit after Tax (NOPAT)		 9.81 8.47 8.92 7.26 6.95 8.01 7.76 9.17 8.45 8.02 8.26
Normalized NOPAT Margin		 27.32% 23.89% 24.58% 19.51% 19.44% 22.19% 20.81% 23.35% 21.11% 21.14% 21.30%
Pre Tax Income Margin		 33.63% 29.70% 31.25% 26.51% 27.58% 26.20% 26.18% 29.50% 25.78% 26.08% 25.91%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.86 0.72 0.73 0.62 0.62 0.60 0.59 0.67 0.60 0.59 0.59
NOPAT to Interest Expense		 0.70 0.58 0.58 0.65 0.47 0.51 0.47 0.53 0.49 0.47 0.47
EBIT Less CapEx to Interest Expense		 0.84 0.70 0.71 0.59 0.60 0.58 0.51 0.50 -0.31 0.57 0.56
NOPAT Less CapEx to Interest Expense		 0.68 0.55 0.56 0.61 0.44 0.49 0.39 0.36 -0.42 0.45 0.43
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 21.54% 21.69% 22.03% 21.66% 23.60% 24.31% 25.61% 31.78% 30.77% 30.90% 30.68%
Augmented Payout Ratio		 22.15% 21.69% 29.19% 28.96% 30.76% 42.40% 52.95% 74.76% 77.03% 67.95% 62.73%

Financials Breakdown Chart

Key Financial Trends

FS Bancorp (NASDAQ: FSBW) turned in a solid start to 2026, with improved earnings, steady core revenue, and continued balance sheet growth. The bank remains profitable and continues to produce strong operating cash flow, though deposit outflows and heavier credit loss provisioning are worth watching.

  • Q1 2026 net income rose to $7.8 million, up from $7.4 million in Q4 2025 and $8.0 million in Q1 2025, showing earnings remained resilient.
  • Earnings per share improved to $1.04 in Q1 2026 from $1.02 a year ago, helped by solid profitability despite fewer shares outstanding than last year.
  • Net interest income increased to $32.5 million in Q1 2026, versus $30.3 million in Q1 2025, supported by strong loan interest income and a wider earning-asset base.
  • Operating cash flow was strong at $8.7 million in Q1 2026, compared with just $0.3 million in Q1 2025, indicating much better cash generation from the business.
  • Total assets grew to $3.20 billion from $3.07 billion at Q1 2025, reflecting continued expansion of the balance sheet.
  • Common equity increased to $313.9 million from $298.8 million a year earlier, giving the company a stronger capital base.
  • The company generated $2.2 million of net cash from investing activities in Q1 2026, helped by investment sales and maturities exceeding purchases.
  • Non-interest income remained healthy at $5.4 million in Q1 2026, although it was below $6.4 million in Q4 2025.
  • Non-interest expense was broadly stable at $25.5 million, only slightly above $25.1 million in Q1 2025.
  • The bank continued to pay a dividend of $0.29 per share in Q1 2026, suggesting a steady shareholder-return policy.
  • Short-term debt and deposit levels moved around materially during the past year, reflecting active balance sheet management and funding shifts.
  • Provision for credit losses jumped to $2.5 million in Q1 2026 from $1.6 million in Q1 2025, which may signal a more cautious credit outlook.
  • Net change in deposits was negative $36.1 million in Q1 2026, a notable reversal from deposit growth in prior quarters.
  • Cash and equivalents declined sharply to $12.4 million from $18.7 million a year earlier, leaving less immediate liquidity on hand.
  • Other assets remain very large at $2.74 billion, so investors may want to keep an eye on asset composition and balance sheet quality.
  • The quarter included $67.0 million of debt repayments against $105.0 million of new debt issuance, showing continued reliance on wholesale funding activity.

Bottom line: FS Bancorp looks profitable and operationally healthy, with decent revenue growth and strong cash generation in Q1 2026. The main watch items are deposit trends and rising credit-loss provisioning, both of which could affect future earnings and funding costs if they continue.

08/14/26 04:52 PM ETAI Generated. May Contain Errors.

FS Bancorp Financials - Frequently Asked Questions

According to the most recent income statement we have on file, FS Bancorp's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

FS Bancorp's net income appears to be on an upward trend, with a most recent value of $33.35 million in 2025, rising from $8.88 million in 2015. The previous period was $35.02 million in 2024. See FS Bancorp's forecast for analyst expectations on what's next for the company.

Over the last 10 years, FS Bancorp's total revenue changed from $45.64 million in 2015 to $152.68 million in 2025, a change of 234.5%.

FS Bancorp's total liabilities were at $2.89 billion at the end of 2025, a 5.7% increase from 2024, and a 379.7% increase since 2015.

In the past 10 years, FS Bancorp's cash and equivalents has ranged from $1.71 million in 2015 to $19.28 million in 2024, and is currently $13.50 million as of their latest financial filing in 2025.

Over the last 10 years, FS Bancorp's book value per share changed from 23.25 in 2015 to 40.93 in 2025, a change of 76.1%.


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Financial statements for NASDAQ:FSBW last updated on 8/10/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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