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Financials · FSBW

FS Bancorp Inc. (FSBW) financials

For the twelve months ended Jun 30, 2026, FS Bancorp Inc. reported $156.04M of revenue and $33.36M of net income.

Revenue, TTM
$156.04M
Revenue growth, YoY
+6.6%
Net income, TTM
$33.36M
Net income growth, YoY
-0.2%
Net margin
21.4%
Free cash flow, TTM
$98.12M
EPS, diluted, TTM
$4.35
EPS growth, YoY
+4.3%
Cash
$29.71M
P/E
10.32
P/S
2.21
Market cap
$344.3M
Annual revenue$152.68M
FY2016FY2025
Annual net income$33.35M
FY2016FY2025
Annual free cash flow$51.94M
FY2016FY2025

FSBW revenue and earnings growth

FSBW revenueQ2 2026$38.80M

Quarter YoY
+4.1%
QoQ
+2.2%
FY YoY
+5.5%
5Y CAGR
+3.4%
10Y CAGR
+12.8%

FSBW revenue was $38.80M in fiscal Q2 2026 (ended Jun 30, 2026), up 4.1% from a year earlier and up 2.2% from the prior quarter. For the full fiscal 2025 it was $152.68M, up 5.5% from fiscal 2024. Compound annual growth was +3.4% over 5 years and +12.8% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

FSBW net incomeQ2 2026$7.94M

Quarter YoY
+2.7%
QoQ
+1.4%
FY YoY
-4.8%
5Y CAGR
-3.2%
10Y CAGR
+14.2%

FSBW net income was $7.94M in fiscal Q2 2026 (ended Jun 30, 2026), up 2.7% from a year earlier and up 1.4% from the prior quarter. For the full fiscal 2025 it was $33.35M, down 4.8% from fiscal 2024. Compound annual growth was -3.2% over 5 years and +14.2% over 10 years. It rose in 5 of the last 10 fiscal years.

FSBW EPSQ2 2026$1.04

Quarter YoY
+5.1%
QoQ
+2.0%
FY YoY
-1.6%
5Y CAGR
-0.9%
10Y CAGR
+11.3%

FSBW diluted EPS was $1.04 in fiscal Q2 2026 (ended Jun 30, 2026), up 5.1% from a year earlier and up 2.0% from the prior quarter. For the full fiscal 2025 it was $4.29, down 1.6% from fiscal 2024. Compound annual growth was -0.9% over 5 years and +11.3% over 10 years.

FSBW free cash flowQ2 2026$51.42M

Quarter YoY
+778.4%
QoQ
+509.4%
FY YoY
+5.6%

FSBW free cash flow was $51.42M in fiscal Q2 2026 (ended Jun 30, 2026), up 778.4% from a year earlier and up 509.4% from the prior quarter. For the full fiscal 2025 it was $51.94M, up 5.6% from fiscal 2024. It rose in 2 of the last 4 fiscal years.

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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$152.68M$144.66M$143.79M$122.39M$124.16M$129.48M$93.34M$78.95M$65.32M$57.43M
Selling, general and admin$14.92M$13.53M$13.07M$10.74M$10.79M$10.47M$9.72M$6.71M$6.21M$6.00M
Interest expense--$43.89M$14.41M$9.72M$14.72M$19.32M$10.23M$4.93M$4.16M
Pre-tax income$41.12M$41.58M$45.27M$36.99M$47.42M$49.85M$28.13M$28.57M$20.58M$16.10M
Income tax$7.77M$6.56M$9.22M$7.34M$10.01M$10.59M$5.41M$4.22M$6.49M$5.60M
Net income$33.35M$35.02M$36.05M$29.65M$37.41M$39.26M$22.72M$24.35M$14.09M$10.50M
EPS, basic$4.35$4.48$4.63$3.75$4.48$4.58$2.56$3.29$2.27$1.81
EPS, diluted$4.29$4.36$4.56$3.70$4.37$4.49$2.50$3.15$2.14$1.75
Diluted shares7.6M7.9M7.8M7.9M8.4M8.6M9.0M7.7M6.6M6.0M

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$28.22M$31.64M$65.69M$41.44M$26.49M$91.58M$45.78M$32.78M$18.91M$36.46M
Goodwill$3.59M$3.59M$3.59M$2.31M$2.31M$2.31M$2.31M$2.31M$2.31M$2.31M
Total assets$3.20B$3.03B$2.97B$2.63B$2.29B$2.11B$1.71B$1.62B$981.78M$827.93M
Short-term debt$129.31M$307.81M$93.75M$186.53M------
Total debt$129.31M$307.81M$93.75M$186.53M$42.53M$165.81M$84.86M---
Total liabilities$2.89B$2.73B$2.71B$2.40B$2.04B$1.88B$1.51B$1.44B$859.78M$746.89M
Shareholders' equity$307.69M$295.77M$264.49M$231.70M$247.51M$230.01M$200.24M$180.04M$122.00M$81.03M

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$72.31M$50.82M$77.67M$184.90M$109.01M-$32.32M$9.18M$21.44M$15.08M$3.59M
Capital expenditures$20.37M$1.64M$1.67M$1.55M$1.98M$1.38M$2.46M$3.80M$1.02M$3.60M
Free cash flow$51.94M$49.19M$76.00M$183.35M$107.03M-$33.70M$6.71M$17.64M$14.07M-$7.0K
Investing cash flow-$206.43M-$104.20M$77.67M-$504.04M-$310.83M-$270.69M-$55.20M-$186.96M-$169.41M$53.26M
Financing cash flow$130.70M$19.32M-$131.08M$334.09M$136.74M$348.81M$59.02M$179.39M$136.79M-$44.85M
Dividends paid$10.26M$8.27M$7.76M$7.10M$4.60M$3.57M$2.86M$1.92M$1.33M$1.09M
Share repurchases$15.42M$2.51M$223.0K$15.63M$13.96M$9.80M$4.80M$251.0K$275.0K$4.90M
Stock-based compensation$2.25M$1.81M$2.01M$1.97M$1.45M-$869.0K$767.0K$634.0K$783.0K
Depreciation and amortization$2.80M$2.50M$2.60M$2.50M$2.70M$2.80M$2.80M$1.80M$1.60M$1.40M

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, YoY5.5%0.6%17.5%-1.4%-4.1%38.7%18.2%20.9%13.7%25.8%
Net income growth, YoY-4.8%-2.9%21.6%-20.8%-4.7%72.8%-6.7%72.9%34.2%18.3%
EPS growth, YoY-1.6%-4.4%23.2%-15.3%-2.7%79.2%-20.3%47.0%21.9%19.8%
Net margin21.8%24.2%25.1%24.2%30.1%30.3%24.3%30.8%21.6%18.3%
Free cash flow margin34.0%34.0%52.9%149.8%86.2%-26.0%7.2%22.3%21.5%-0.0%
Return on equity10.8%11.8%13.6%12.8%15.1%17.1%11.3%13.5%11.5%13.0%
Return on assets1.0%1.2%1.2%1.1%1.6%1.9%1.3%1.5%1.4%1.3%
Debt to equity0.421.040.350.810.170.720.42---

Source: XBRL data FS Bancorp Inc. files with the SEC, latest filing dated Aug 10, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 2-for-1, first reported Aug 9, 2021.

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.

FSBW peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
FSBW$156.04M+6.6%$33.36M21.4%$344.3M
FLG$2.09B-6.4%$48.00M2.3%$4.40B
BBT$887.69M+93.0%$159.79M18.0%$2.56B
HFWA$294.09M+30.2%$77.90M26.5%$1.17B
NBBK$283.44M+43.2%$66.95M23.6%$964.9M
SMBC$200.65M+9.9%$71.84M35.8%$778.0M
TCBX$248.00M+24.8%$75.26M30.3%$653.2M
GCBC$92.58M+22.9%$41.02M44.3%$612.9M

FSBW FAQ

8 questions
  • What is FSBW revenue?
    FS Bancorp Inc. (FSBW) reported $156.04M of revenue for the twelve months ended Jun 30, 2026. That is up 6.6% from the year before. Revenue for fiscal 2025 was $152.68M.
  • Is FSBW profitable?
    Yes. FS Bancorp Inc. earned $33.36M in net income for the twelve months ended Jun 30, 2026, a net margin of 21.4%.
  • How much cash and debt does FSBW have?
    FS Bancorp Inc. reported $29.71M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is FSBW revenue growing?
    FS Bancorp Inc.'s revenue changed +5.5% in fiscal 2025, to $152.68M. Its compound annual growth rate was +3.4% over 5 years and +12.8% over 10 years.
  • What is FSBW free cash flow?
    FS Bancorp Inc. generated $98.12M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of $117.70M less capital expenditures.
  • What is FSBW earnings per share?
    Diluted earnings per share were $4.35 for the twelve months ended Jun 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did FSBW last report financial results?
    The latest statements here come from FS Bancorp Inc.'s 10-Q filed on Aug 10, 2026, covering the period ended Jun 30, 2026.
  • Where does this FSBW financial data come from?
    Quantisnow builds these statements from the structured XBRL data FS Bancorp Inc. files with the SEC. It is provided for information only and is not investment advice.