First Business Financial Services, Inc.

First Business Financial Services, Inc.

FBIZ
First Business Financial Services, Inc.US flagNASDAQ Global Select
55.79
USD
-1.63
- -
466.53MMarket Cap
First Business Financial Services, Inc.
FBIZ
(NASDAQ Global Select)

Recent

price

55.79

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
7.79
8.48
5.95
6.44
7.15
8.85
9.05
8.65
9.66
10.47
12.12
13.56
15.54
17.7
18.83
20.67
21.07
Revenue per Share
0.19
1.68
1.14
1.75
1.8
1.93
1.74
1.38
1.89
2.74
2.02
4.3
4.88
4.45
5.32
6.06
6.18
Basic EPS, GAAP
2.35
3.42
1.97
1.96
1.1
2.62
2.98
2.46
2.81
3.38
3.15
4.28
4.31
6.08
7.03
7.49
6.46
Free Cash Flow per Basic Share
0.14
0.15
0.09
0.32
0.43
0.45
0.49
0.53
0.57
0.61
0.67
0.74
0.9
1.04
1.13
1.29
1.35
Dividend per Share
6.01
7.48
5.83
7.28
8.64
9.44
10.66
11.49
12.78
15.17
16.76
20.46
24.75
28.39
32.63
37.46
38.53
Book Value per Share
11.13
12.8
12.71
13.91
16.01
16.18
17.36
18.19
19.52
21.4
23.16
26.48
28.75
32.66
37.39
42.61
43.59
Tangible Book Value per Share
5
5
8
8
8
9
9
9
9
9
8
8
8
8
8
8
8
Basic Weighted Avg Shares
39
43
47
51
56
76
78
74
83
89
102
113
128
144
153
169
172
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
2
2
3
2
2
- -
2
2
1
3
3
4
4
4
4
4
4
Depreciation Expense
1
8
9
14
14
17
15
12
16
23
17
36
41
37
44
50
51
Net Income, GAAP
71.4
29.05
34.73
34.96
33.38
33.65
12.63
16.34
7.65
4.8
7.25
23.97
21.79
21.45
13.5
16.76
16.34
Effective Tax Rate (%)
2.43
19.81
19.16
27.19
25.14
21.83
19.21
15.98
19.54
26.15
16.71
31.71
31.96
25.73
28.83
29.84
29.84
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
52
51
23
22
44
45
70
218
309
337
436
419
467
340
328
259
310
LT Debt
55
64
100
109
138
151
162
169
181
194
206
232
261
290
329
372
380
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
3.17
25.01
21.47
26.74
22.6
22.23
17.33
12.51
15.57
19.47
12.59
23.02
21.5
16.64
17.46
17.3
17.14
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
267
252
303
LT Finance Leases
8
7
7
Preferred Equity and Hybrid Capital
12
12
12
Shares Outstanding
8
8
8
Market Capitalization
417
443
440

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
46
417
514
Accounts Receivable, Net
14
13
13
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.48%
12.51%
13.09%
Free Cash Flow
11.82%
19.32%
6.69%
Net Income, GAAP
17.16%
29.74%
13.73%
Sales/Revenue/Turnover
8.48%
10.69%
9.89%
Total Cash Common Dividend
9.8%
11.42%
16.42%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
36
38
38
41
153
2025
41
41
45
42
169
2026
44
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.06
1.26
1.27
1.75
5.32
2025
1.35
1.38
1.73
1.6
6.06
2026
1.46
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.28
0.28
0.28
0.28
1.13
2025
0.33
0.32
0.32
0.32
1.29
2026
0.38
- -
- -
- -
- -
Business
First Business Financial Services, Inc. operates as a bank holding company providing specialized commercial banking and financial services primarily through its wholly owned subsidiary, First Business Bank. The company offers a comprehensive range of commercial banking solutions including commercial real estate lending; commercial and industrial loans; asset-based lending; accounts receivable financing; equipment, floorplan, and vendor financing; small business administration (SBA) lending and servicing; treasury management solutions; and retirement services for businesses. Additionally, it delivers private wealth management services such as trust and estate administration, financial advisory, investment management, brokerage and custody services, and private banking tailored to high-net-worth individuals, professionals, and executives. The firm also provides banking consulting services, including balance sheet management, investment portfolio oversight, and asset liability management. Geographically, First Business Financial Services, Inc. operates primarily in the Midwestern United States, with significant market presence in Wisconsin, Kansas, Missouri, and the Twin Cities region, supported by regional loan production offices. Founded in 1990 and headquartered in Madison, Wisconsin, the company targets small and medium-sized businesses, entrepreneurs, corporate leaders, professionals, and affluent individuals as its core customer segments. It maintains other subsidiaries such as First Business Specialty Finance, LLC, which focuses on equipment finance, asset-based lending, accounts receivable financing, and floorplan financing solutions. Recent major changes include a stable quarterly dividend policy with a $0.29 per share dividend declared in late 2025, reflecting consistent profitability and shareholder returns. The company continues to expand its specialty finance offerings through First Business Specialty Finance and remains focused on long-term strategic growth by targeting a 10% annual growth in deposits, loans, and private wealth assets. There have been no recent public reports of acquisitions or significant restructuring within the past two years; instead, the company emphasizes organic growth and regional market strengthening, leveraging its diversified product suite and focused regional footprint to drive business growth. Overall, First Business Financial Services, Inc. positions itself as a specialized financial services provider delivering tailored commercial banking, wealth management, and consulting services to meet the sophisticated needs of business clients and private wealth customers in the Midwest region of the United States. It leverages its in-depth market knowledge, diverse product offerings, and regional presence to sustain its competitive positioning in the banking and specialty finance industry. This description reflects the company's core products, recent dividend declarations, strategic focus on growth in loans and deposits, and its Midwestern regional market operations as of late 2025.

Company News

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