Overview Dividends

(FBIZ) First Business Financial - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US3193901002

Commercial Lending, Treasury Management, Wealth Management, Deposit Accounts

Regional Banks
Market Cap in USD: 446m

IPO / Inception: 2005-10-07
Return 12m vs S&P 500: 5.60%

EPS (Earnings per Share)

EPS CAGR: -45.08%
EPS Trend: -13.0%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 25.68%
Rev. Trend: 93.3%

Last SUE: 0.70
Qual. Beats: 0

Dividends

Dividend Yield	2.14%
Yield on Cost 5y	6.77%
Yield CAGR 5y	12.66%
Payout Consistency	98.7%
Payout Ratio	19.1%

Risk via 5d forecast
Volatility	32.3%
Value at Risk 5%th	46.7%
Relative Tail Risk	-11.96%

Reward TTM
Sharpe Ratio	0.73
Alpha	8.27
CAGR/Max DD	0.62

Character TTM
Hurst Exponent	0.631
Beta	0.763
Beta Downside	0.766

Drawdowns 3y
Max DD	31.29%
Mean DD	10.59%
Median DD	10.67%

Description: FBIZ First Business Financial December 28, 2025

First Business Financial Services, Inc. (NASDAQ: FBIZ) is the holding company for First Business Bank, a community-focused lender serving small- and medium-size enterprises, professionals, and high-net-worth individuals across Wisconsin, Kansas, and Missouri. Founded in 1909 and headquartered in Madison, Wisconsin, the bank positions itself as a full-service regional institution.

The bank’s product lineup spans commercial real-estate, industrial, and asset-based lending, as well as specialized financing such as accounts-receivable, equipment, floor-plan, vendor, and SBA loans. Complementary services include treasury management, corporate retirement solutions, and a private-wealth platform that offers asset allocation, trust and estate administration, financial planning, and brokerage custody. Additionally, FBIZ provides balance-sheet consulting, asset-liability management, and standard commercial deposit accounts.

As of the most recent filing, FBIZ reported total assets of roughly $2.2 billion, a loan-to-deposit ratio near 88 %, and a net interest margin of about 3.2 %. The bank’s return on equity hovered around 9 %, reflecting modest profitability in a sector still adjusting to the post-pandemic rate-hike environment. Regional banks like FBIZ are especially sensitive to Federal Reserve policy, which drives net interest income, while small-business loan demand remains linked to U.S. GDP growth and local employment trends.

For a deeper, data-driven valuation framework, you might explore the FBIZ profile on ValueRay.

Piotroski VR‑10 (Strict, 0-10) 3.0

Net Income (51.4m TTM) > 0 and > 6% of Revenue (6% = 16.6m TTM)

FCFTA 0.02 (>2.0%) and ΔFCFTA 0.36pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -1179 % (prev -978.6%; Δ -200.5pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.02 (>3.0%) and CFO 67.5m > Net Income 51.4m (YES >=105%, WARN >=100%)

Net Debt (230.0m) to EBITDA (63.4m) ratio: 3.63 <= 3.0 (WARN <= 3.5)

Current Ratio 0.02 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (8.15m) change vs 12m ago 0.52% (target <= -2.0% for YES)

Gross Margin 57.03% (prev 54.75%; Δ 2.27pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 7.15% (prev 6.89%; Δ 0.26pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 0.54 (EBITDA TTM 63.4m / Interest Expense TTM 109.6m) >= 6 (WARN >= 3)

Altman Z'' -4.89

(A) -0.81 = (Total Current Assets 65.3m - Total Current Liabilities 3.33b) / Total Assets 4.03b

(B) 0.07 = Retained Earnings (Balance) 294.8m / Total Assets 4.03b

(D) 0.08 = Book Value of Equity 283.3m / Total Liabilities 3.68b

Total Rating: -4.89 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 65.42

1. Piotroski 3.0pt

2. FCF Yield 9.92%

3. FCF Margin 24.15%

4. Debt/Equity 0.77

5. Debt/Ebitda 3.63

6. ROIC - WACC (= -0.80)%

7. RoE 15.03%

8. Rev. Trend 93.33%

9. EPS Trend -13.02%

What is the price of FBIZ shares?

As of January 08, 2026, the stock is trading at USD 54.18 with a total of 14,957 shares traded.
Over the past week, the price has changed by -0.22%, over one month by -0.07%, over three months by +8.66% and over the past year by +25.16%.

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.

Strong Buy: 2
Buy: 3
Hold: 0
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the FBIZ price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	61.4	13.3%
Analysts Target Price	61.4	13.3%
ValueRay Target Price	64.5	19.1%

FBIZ Fundamental Data Overview January 05, 2026

Market Cap USD = 446.0m (446.0m USD * 1.0 USD.USD)
P/E Trailing = 8.827
P/E Forward = 8.9606
P/S = 2.8219
P/B = 1.2878
P/EG = 1.89
Beta = 0.733
Revenue TTM = 277.1m USD
EBIT TTM = 59.5m USD
EBITDA TTM = 63.4m USD
Long Term Debt = 266.7m USD (from longTermDebt, last quarter)
Short Term Debt = 117.9m USD (from shortTermDebt, last fiscal year)
Debt = 274.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 230.0m USD (from netDebt column, last quarter)
Enterprise Value = 674.6m USD (446.0m + Debt 274.4m - CCE 45.8m)
Interest Coverage Ratio = 0.54 (Ebit TTM 59.5m / Interest Expense TTM 109.6m)
FCF Yield = 9.92% (FCF TTM 66.9m / Enterprise Value 674.6m)
FCF Margin = 24.15% (FCF TTM 66.9m / Revenue TTM 277.1m)
Net Margin = 18.55% (Net Income TTM 51.4m / Revenue TTM 277.1m)
Gross Margin = 57.03% ((Revenue TTM 277.1m - Cost of Revenue TTM 119.1m) / Revenue TTM)
Gross Margin QoQ = 58.71% (prev 55.94%)
Tobins Q-Ratio = 0.17 (Enterprise Value 674.6m / Total Assets 4.03b)
Interest Expense / Debt = 10.52% (Interest Expense 28.9m / Debt 274.4m)
Taxrate = 17.22% (2.99m / 17.4m)
NOPAT = 49.3m (EBIT 59.5m * (1 - 17.22%))
Current Ratio = 0.02 (Total Current Assets 65.3m / Total Current Liabilities 3.33b)
Debt / Equity = 0.77 (Debt 274.4m / totalStockholderEquity, last quarter 358.3m)
Debt / EBITDA = 3.63 (Net Debt 230.0m / EBITDA 63.4m)
Debt / FCF = 3.44 (Net Debt 230.0m / FCF TTM 66.9m)
Total Stockholder Equity = 341.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.27% (Net Income 51.4m / Total Assets 4.03b)
RoE = 15.03% (Net Income TTM 51.4m / Total Stockholder Equity 341.9m)
RoCE = 9.78% (EBIT 59.5m / Capital Employed (Equity 341.9m + L.T.Debt 266.7m))
RoIC = 7.98% (NOPAT 49.3m / Invested Capital 617.3m)
WACC = 8.78% (E(446.0m)/V(720.4m) * Re(8.83%) + D(274.4m)/V(720.4m) * Rd(10.52%) * (1-Tc(0.17)))
Discount Rate = 8.83% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.26%
[DCF Debug] Terminal Value 78.70% ; FCFE base≈59.5m ; Y1≈72.3m ; Y5≈119.0m
Fair Price DCF = 210.2 (DCF Value 1.75b / Shares Outstanding 8.32m; 5y FCF grow 22.94% → 3.0% )
EPS Correlation: -13.02 | EPS CAGR: -45.08% | SUE: -4.0 | # QB: 0
Revenue Correlation: 93.33 | Revenue CAGR: 25.68% | SUE: 0.70 | # QB: 0
EPS next Quarter (2026-03-31): EPS=1.37 | Chg30d=+0.000 | Revisions Net=-2 | Analysts=5
EPS next Year (2026-12-31): EPS=5.98 | Chg30d=+0.000 | Revisions Net=+0 | Growth EPS=+4.5% | Growth Revenue=+7.7%

Additional Sources for FBIZ Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle