FBIZ Stock Analysis: First Business Financial | NASDAQ

Commercial Lending, Wealth Advisory, Treasury Management, Asset Financing

Total Rating 54

Safety 69

Buy Signal 0.40

Banks - Regional
Industry Rotation: -12.3

Market Cap: 601M
Avg Turnover: 3.39M

Risk 3d forecast

Volatility30.6%

VaR 5^th Pctl4.84%

VaR vs Median-3.85%

Reward TTM

Sharpe Ratio1.36

Rel. Str. IBD79.1

Rel. Str. Peer Group81.6

Character TTM

Beta0.647

Beta Downside0.441

Hurst Exponent0.524

Drawdowns 3y

Max DD20.78%

CAGR/Max DD1.59

CAGR/Mean DD4.35

EPS (Earnings per Share)

EPS CAGR: 17.34%
EPS Trend: 97.2%

Last SUE: 1.02
Qual. Beats: 1

Revenue

Rev. CAGR: 10.77%
Rev. Trend: 95.2%

Last SUE: 0.74
Qual. Beats: 0

Warnings

Below Avwap Earnings

Tailwinds

Confidence

Seasonality 11.5 years of data

Jan +2.7% 19

Feb -0.1% 19

Mar -2.2% 10

Apr +2.4% 28

May -0.8% 46

Jun -0.2% 2

Jul -2.5% 26

Aug -2.2% 41

Sep -2.0% 21

Oct -2.6% 25

Nov +3.1% 48

Dec -0.3% 2

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: FBIZ First Business Financial

First Business Financial Services (FBIZ) is a Wisconsin-based bank holding company that operates First Business Bank, primarily serving small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals across Wisconsin, Kansas, and Missouri. Founded in 1909 and headquartered in Madison, Wisconsin, the company has built a diversified commercial banking platform alongside a complementary private wealth management business.

The companys commercial banking offerings span a wide range of specialty lending products, including commercial real estate lending, commercial and industrial lending, asset-based lending, accounts receivable financing, equipment financing, floorplan financing, vendor financing, and Small Business Administration (SBA) lending and servicing. It also provides treasury management solutions, company retirement services, and commercial deposit accounts. Its private wealth division offers asset allocation strategies, trust and estate administration, financial planning, investment management, brokerage, and custody services, as well as private banking for high net worth clients. Additionally, FBIZ generates fee income through bank consulting services covering balance sheet, investment portfolio, and asset liability management.

FBIZ operates in the Regional Banks sub-industry within the Financials sector, a segment characterized by community-focused institutions that generate revenue primarily through net interest income from lending activities, supplemented by fee-based services such as wealth management, treasury solutions, and SBA loan servicing. Its multi-state footprint across the Midwest and specialty lending focus distinguish it from larger national banks, while its integrated wealth management arm provides a meaningful source of non-interest income that can help offset margin pressure in a rate-sensitive environment.

Headlines to Watch Out For

Net interest margin pressure as deposit costs rise
Commercial real estate loan losses threaten credit quality
Private wealth management fees accelerate revenue diversification

Piotroski VR-10 (Strict) 3.0

Net Income: 55.5m TTM > 0 and > 6% of Revenue
FCF/TA: 0.02 > 0.02 and ΔFCF/TA 0.26 > 1.0
NWC/Revenue: 192.9% < 20% (prev -1.03k%; Δ 1.22k% < -1%)
CFO/TA 0.02 > 3% & CFO 81.4m > Net Income 55.5m
Net Debt (70.8m) to EBITDA (68.7m): 1.03 < 3
Current Ratio: 1.16 > 1.5 & < 3
Outstanding Shares: last quarter (8.21m) vs 12m ago 0.71% < -2%
Gross Margin: 58.86% > 18% (prev 55.88%; Δ 2.98% > 0.5%)
Asset Turnover: 6.84% > 50% (prev 6.75%; Δ 0.09% > 0%)
Interest Coverage Ratio: 0.59 > 6 (EBIT TTM 64.8m / Interest Expense TTM 110.1m)

Altman Z'' 1.27

A: 0.13 (Total Current Assets 4.12b - Total Current Liabilities 3.57b) / Total Assets 4.41b
B: 0.07 (Retained Earnings 327.0m / Total Assets 4.41b)
C: 0.02 (EBIT TTM 64.8m / Avg Total Assets 4.21b)
D: 0.10 (Book Value of Equity 395.3m / Total Liabilities 4.01b)
Altman-Z'' = 1.27 = BB

Beneish M -3.64

DSRI: 0.92 (Receivables 12.8m/13.1m, Revenue 287.9m/270.2m)
GMI: 0.95 (GM 55.88% / 58.86%)
AQI: 0.07 (AQ_t 0.06 / AQ_t-1 0.87)
SGI: 1.07 (Revenue 287.9m / 270.2m)
TATA: -0.01 (NI 55.5m - CFO 81.4m) / TA 4.41b)
Beneish M = -3.64 (Cap -4..+1) = AAA

What is the price of FBIZ shares?

As of August 22, 2026, the stock is trading at USD 68.69 with a total of 52,241 shares traded. Over the past week, the price has changed by -3.85%, over one month by +4.99%, over three months by +20.62% and over the past year by +42.37%.

Current recommended Stop Loss: 64.30 (which is 6.4% or 2.8 ATR below the current price).

Is FBIZ a buy, sell or hold?

First Business Financial has received a consensus analysts rating of 4.40. Therefore, it is recommended to buy FBIZ.

StrongBuy: 2
Buy: 3
Hold: 0
Sell: 0
StrongSell: 0

What are the forecasts/targets for the FBIZ price?

Analysts Target Price	79.2	15.3%

First Business Financial (FBIZ) - Fundamental Data Overview as of 15 August 2026

Market Cap USD = 601.1m (601.1m USD * 1.0 USD.USD)
P/E Trailing = 10.8341
P/E Forward = 8.9606
P/S = 3.5477
P/B = 1.5393
P/EG = 1.2381
Revenue TTM = 287.9m USD
EBIT TTM = 64.8m USD
EBITDA TTM = 68.7m USD
Long Term Debt = 346.8m USD (from longTermDebt, last quarter)
Short Term Debt = 241.7m USD (from shortTermDebt, last quarter)
Debt = 601.9m USD (from shortLongTermDebtTotal, last quarter) + Leases 6.70m
Net Debt = 70.8m USD (calculated: Debt 601.9m - CCE 531.1m)
Enterprise Value = 671.9m USD (601.1m + Debt 601.9m - CCE 531.1m)
Interest Coverage Ratio = 0.59 (Ebit TTM 64.8m / Interest Expense TTM 110.1m)
EV/FCF = 8.30x (Enterprise Value 671.9m / FCF TTM 80.9m)
FCF Yield = 12.04% (FCF TTM 80.9m / Enterprise Value 671.9m)
FCF Margin = 28.11% (FCF TTM 80.9m / Revenue TTM 287.9m)
Net Margin = 19.28% (Net Income TTM 55.5m / Revenue TTM 287.9m)
Gross Margin = 58.86% ((Revenue TTM 287.9m - Cost of Revenue TTM 118.4m) / Revenue TTM)
Gross Margin QoQ = 60.67% (prev 58.49%)
Tobins Q-Ratio = 0.15 (Enterprise Value 671.9m / Total Assets 4.41b)
Interest Expense / Debt = 18.29% (Interest Expense 110.1m / Debt 601.9m)
Taxrate = 14.34% (9.29m / 64.8m)
NOPAT = 55.5m (EBIT 64.8m * (1 - 14.34%))
Current Ratio = 1.16 (Total Current Assets 4.12b / Total Current Liabilities 3.57b)
Debt / Equity = 1.52 (Debt 601.9m / totalStockholderEquity, last quarter 395.3m)
Debt / EBITDA = 1.03 (Net Debt 70.8m / EBITDA 68.7m)
Debt / FCF = 0.88 (Net Debt 70.8m / FCF TTM 80.9m)
Total Stockholder Equity = 376.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.32% (Net Income 55.5m / Total Assets 4.41b)
RoE = 14.75% (Net Income TTM 55.5m / Total Stockholder Equity 376.3m)
RoCE = 8.96% (EBIT 64.8m / Capital Employed (Equity 376.3m + L.T.Debt 346.8m))
RoIC = 1.26% (NOPAT 55.5m / Invested Capital 4.40b)
WACC = 11.97% (E(601.1m)/V(1.20b) * Re(8.26%) + D(601.9m)/V(1.20b) * Rd(18.29%) * (1-Tc(0.14)))
Discount Rate = 8.26% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 92.21 | Cagr: 0.45%
[DCF] Terminal Value 67.19% ; FCFF base≈73.8m ; Y1≈84.6m ; Y5≈124.5m
[DCF] Fair Price = 127.7 (EV 1.14b - Net Debt 70.8m = Equity 1.07b / Shares 8.37m; r=11.97% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 97.25 | EPS CAGR: 17.34% | SUE: 1.02 | # QB: 1
Revenue Correlation: 95.20 | Revenue CAGR: 10.77% | SUE: 0.74 | # QB: 0
EPS current Quarter (2026-09-30): EPS=1.66 | Chg30d=+4.14% | Revisions=+57% | Analysts=5
EPS current Year (2026-12-31): EPS=6.53 | Chg30d=+5.05% | Revisions=+57% | GrowthEPS=+10.0% | GrowthRev=+10.1%
EPS next Year (2027-12-31): EPS=6.93 | Chg30d=+3.31% | Revisions=+57% | GrowthEPS=+6.0% | GrowthRev=+7.0%
[Analyst] Revisions Ratio: +80% (up=12, down=0)