FBIZFIRST BUSINESS FINANCIAL SERVICES, INC.
State Commercial Banks
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $630M
- Employees
- 371
- Net debt / EBITDA
- —
- −$70M net debt
- AI in 10-K
- 1.7
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo123% of net incomeCash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo18% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentNo95% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo1.7 per 10K words · 49th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$630M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$44K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Net income | $36M | $41M | $37M | $44M | $50M | 14% |
| Operating cash flow | $36M | $39M | $52M | $57M | $62M | 7.3% |
| Capex | $391K | $3M | $3M | $223K | $595K | 167% |
| Stock-based comp | $3M | $3M | $3M | $3M | $3M | 0.5% |
| Buybacks | $5M | $6M | $3M | $1M | $1M | 9.4% |
| Dividends | $6M | $7M | $8M | $8M | $10M | 16% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $4K · 1
- Open-market sells, 12 mo
- $47K · 1
- Net
- −$44K
Pay vs performance
No pay-versus-performance disclosure yet.