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Financials · FBIZ

First Business Financial Services Inc. (FBIZ) financials

For the twelve months ended Sep 30, 2026, First Business Financial Services Inc. reported $180.73M of revenue and $57.69M of net income.

Revenue, TTM
$180.73M
Revenue growth, YoY
+7.9%
Net income, TTM
$57.69M
Net income growth, YoY
+12.2%
Net margin
31.9%
Free cash flow, TTM
$67.85M
EPS, diluted, TTM
$6.81
EPS growth, YoY
+12.0%
Cash
$92.28M
P/E
10.95
P/S
3.49
Market cap
$631.4M
Annual revenue$168.63M
FY2016FY2025
Annual net income$50.32M
FY2016FY2025
Annual free cash flow$61.10M
FY2016FY2025

FBIZ revenue and earnings growth

FBIZ revenueQ3 2026$47.51M

Quarter YoY
+6.7%
QoQ
+1.7%
FY YoY
+9.9%
5Y CAGR
+10.1%
10Y CAGR
+8.3%

FBIZ revenue was $47.51M in fiscal Q3 2026 (ended Sep 30, 2026), up 6.7% from a year earlier and up 1.7% from the prior quarter. For the full fiscal 2025 it was $168.63M, up 9.9% from fiscal 2024. Compound annual growth was +10.1% over 5 years and +8.3% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

FBIZ net incomeQ3 2026$16.57M

Quarter YoY
+15.1%
QoQ
+6.4%
FY YoY
+13.7%
5Y CAGR
+24.3%
10Y CAGR
+11.8%

FBIZ net income was $16.57M in fiscal Q3 2026 (ended Sep 30, 2026), up 15.1% from a year earlier and up 6.4% from the prior quarter. For the full fiscal 2025 it was $50.32M, up 13.7% from fiscal 2024. Compound annual growth was +24.3% over 5 years and +11.8% over 10 years. It rose in 6 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

FBIZ EPSQ3 2026$1.95

Quarter YoY
+14.7%
QoQ
+6.0%
FY YoY
+14.2%
5Y CAGR
+24.7%
10Y CAGR
+12.1%

FBIZ diluted EPS was $1.95 in fiscal Q3 2026 (ended Sep 30, 2026), up 14.7% from a year earlier and up 6.0% from the prior quarter. For the full fiscal 2025 it was $5.94, up 14.2% from fiscal 2024. Compound annual growth was +24.7% over 5 years and +12.1% over 10 years.

FBIZ free cash flowQ3 2026$5.20M

Quarter YoY
-71.5%
QoQ
-88.1%
FY YoY
+6.7%
5Y CAGR
+18.3%
10Y CAGR
+10.5%

FBIZ free cash flow was $5.20M in fiscal Q3 2026 (ended Sep 30, 2026), down 71.5% from a year earlier and down 88.1% from the prior quarter. For the full fiscal 2025 it was $61.10M, up 6.7% from fiscal 2024. Compound annual growth was +18.3% over 5 years and +10.5% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$168.63M$153.46M$143.90M$127.85M$112.76M$104.01M$93.28M$85.51M$77.27M$81.32M
Selling, general and admin-------$1.88M$1.91M$1.54M
Interest expense--$82.34M$22.95M$11.33M$17.11M$32.18M$23.93M$15.20M$14.79M
Pre-tax income$60.45M$51.15M$47.14M$52.24M$47.03M$18.30M$24.50M$17.65M$14.23M$17.07M
Income tax$10.13M$6.91M$10.11M$11.39M$11.28M$1.33M$1.18M$1.35M$2.33M$2.16M
Net income$50.32M$44.24M$37.03M$40.86M$35.76M$16.98M$23.32M$16.30M$11.90M$14.91M
EPS, basic$5.94$5.20$4.33$4.75$4.17$1.97$2.68$1.86$1.36$1.71
EPS, diluted$5.94$5.20$4.33$4.75$4.17$1.97$2.68$1.86$1.36$1.71
Diluted shares8.2M8.1M8.1M8.2M8.3M8.4M8.5M8.6M8.6M8.6M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$39.48M$157.70M$139.51M$102.68M$57.11M$56.91M$67.10M$86.55M$52.54M$77.52M
Goodwill$10.70M$10.70M$10.70M$10.70M$10.70M$10.70M$10.70M$10.70M$10.70M$10.70M
Total assets$4.08B$3.85B$3.51B$2.98B$2.65B$2.57B$2.10B$1.97B$1.79B$1.78B
Total liabilities$3.71B$3.52B$3.22B$2.72B$2.42B$2.36B$1.90B$1.79B$1.62B$1.62B
Shareholders' equity$371.58M$328.59M$289.59M$260.64M$232.42M$206.16M$194.16M$180.71M$169.28M$161.65M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$61.70M$57.49M$52.29M$38.65M$35.99M$26.64M$28.98M$25.28M$22.41M$26.16M
Capital expenditures$595.0K$223.0K$2.88M$3.22M$391.0K$264.0K$225.0K$969.0K$1.24M$584.0K
Free cash flow$61.10M$57.27M$49.41M$35.42M$35.60M$26.37M$28.76M$24.31M$21.17M$25.58M
Investing cash flow-$373.38M-$328.47M-$506.85M-$245.27M-$111.01M-$454.51M-$131.50M-$137.85M-$46.35M-$44.31M
Financing cash flow$193.47M$289.17M$491.38M$252.19M$75.22M$417.68M$83.07M$146.58M-$1.03M-$17.90M
Dividends paid$9.69M$8.32M$7.58M$6.69M$6.17M$5.65M$5.22M$4.92M$4.54M$4.18M
Share repurchases$1.39M$1.27M$2.97M$6.13M$5.48M$1.67M$7.25M$533.0K$323.0K$467.0K
Stock-based compensation$2.80M$2.79M$2.98M$2.58M$2.51M$1.87M$1.57M$1.00M$1.08M$994.0K
Depreciation and amortization$3.77M$3.74M$3.64M$4.07M$3.55M$3.46M$3.05M$1.48M$1.56M$1.51M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY9.9%6.6%12.6%13.4%8.4%11.5%9.1%10.7%-5.0%7.5%
Net income growth, YoY13.7%19.5%-9.4%14.3%110.6%-27.2%43.1%36.9%-20.1%-9.7%
EPS growth, YoY14.2%20.1%-8.8%13.9%111.7%-26.5%44.1%36.8%-20.5%-10.0%
Net margin29.8%28.8%25.7%32.0%31.7%16.3%25.0%19.1%15.4%18.3%
Free cash flow margin36.2%37.3%34.3%27.7%31.6%25.4%30.8%28.4%27.4%31.5%
Return on equity13.5%13.5%12.8%15.7%15.4%8.2%12.0%9.0%7.0%9.2%
Return on assets1.2%1.1%1.1%1.4%1.3%0.7%1.1%0.8%0.7%0.8%

Source: XBRL data First Business Financial Services Inc. files with the SEC, latest filing dated Oct 30, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

Per-share figures and share counts are restated for stock splits the filings show: 2-for-1, first reported Oct 30, 2015.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

FBIZ peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
FBIZ$180.73M+7.9%$57.69M31.9%$631.4M
JPM$203.15B+13.2%$65.98B32.5%$908.43B
BAC$120.16B+5.4%$32.24B26.8%$348.81B
WFC$87.23B+5.4%$22.97B26.3%$256.63B
C$85.22B+5.6%$14.31B16.8%$201.89B
UBS$49.57B+2.0%$7.80B15.7%$151.93B
MFG¥8.79T+7.6%¥1.16T13.2%$122.19B
COF$63.01B+31.2%$10.87B17.2%$119.45B
BNSC$37.74B+12.1%C$7.79B20.6%$114.51B

FBIZ FAQ

8 questions
  • What is FBIZ revenue?
    First Business Financial Services Inc. (FBIZ) reported $180.73M of revenue for the twelve months ended Sep 30, 2026. That is up 7.9% from the year before. Revenue for fiscal 2025 was $168.63M.
  • Is FBIZ profitable?
    Yes. First Business Financial Services Inc. earned $57.69M in net income for the twelve months ended Sep 30, 2026, a net margin of 31.9%.
  • How much cash and debt does FBIZ have?
    First Business Financial Services Inc. reported $92.28M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is FBIZ revenue growing?
    First Business Financial Services Inc.'s revenue changed +9.9% in fiscal 2025, to $168.63M. Its compound annual growth rate was +10.1% over 5 years and +8.3% over 10 years.
  • What is FBIZ free cash flow?
    First Business Financial Services Inc. generated $67.85M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $68.49M less capital expenditures.
  • What is FBIZ earnings per share?
    Diluted earnings per share were $6.81 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did FBIZ last report financial results?
    The latest statements here come from First Business Financial Services Inc.'s 10-Q filed on Oct 30, 2026, covering the period ended Sep 30, 2026.
  • Where does this FBIZ financial data come from?
    Quantisnow builds these statements from the structured XBRL data First Business Financial Services Inc. files with the SEC. It is provided for information only and is not investment advice.