FS Bancorp, Inc. (FSBW) is a publicly traded company in the Financial Services — Banks - Regional industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
FS Bancorp, Inc. functions as the holding company for 1st Security Bank of Washington, delivering a comprehensive suite of banking and financial services. These offerings cater to families, local and regional businesses, and specialized industry sectors. The company operates through two main divisions: Commercial and Consumer Banking, and Home Lending. Its deposit portfolio includes checking, money market, and savings accounts, alongside certificates of deposit.
Analysis Summary
FS Bancorp, Inc. reported revenue of $217.5M in the most recent fiscal year, growing at a 5-year CAGR of 8.9%. Net income reached $33.3M, with a -3.2% 5-year CAGR.
Trailing-twelve-month margins: gross margin 57.8%, operating margin 14.3%, net margin 18.7%.
At the current price of $43.96, FSBW trades at a P/E of 10.04 and an ROE of 10.75%. Market capitalisation stands at $326M.
Balance sheet quality for FSBW: current ratio of 0.1, net cash position of $161.1M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $51.9M represents 156% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Price
| Price | $43.96 |
| Market Cap | $326M |
| Exchange | NASDAQ |
| Country | US |
Valuation Ratios
| P/E Ratio | 10.04 |
| Price / Book | 1.05 |
| EV / EBITDA | 23.38 |
| Dividend Yield | 2.58% |
Profitability
| Return on Equity | 10.75% |
| Return on Invested Capital | 0.68% |
| Return on Assets | 1.05% |
| Gross Margin | 57.82% |
| Operating Margin | 14.28% |
| Net Margin | 18.67% |
Financial Health
| Debt / Equity | 1.19 |
| Current Ratio | 408.48 |
What to look at in Banking companies
- Efficiency Ratio (<=55%) — Operating expenses / revenue. Top banks below 55%.
- ROA (>=1%) — How much they earn per dollar of assets. ROE misleads in banks due to leverage.
- ROTCE (>=12%) — Return on Tangible Common Equity. Strips goodwill and intangibles.
- Equity / Assets (Tier 1 proxy) (>=8%) — Capital ratio proxy. FMP does not expose regulatory Tier 1 directly.
- P/B (1.0-1.5x) — Classic banking metric. <1x can be opportunity or distress.
- Sustainable dividend yield (>=2%, <8%) — EU banks pay 5-7% normally. >8% is distress signal.
Peer Comparison
| Symbol | Company | Market Cap | P/E | P/B | ROE |
|---|---|---|---|---|---|
| FSBW | FS Bancorp, Inc. | $329M | 10.04 | 1.05 | 10.8% |
| 0O84.L | DNB Bank ASA | $485.9B | |||
| MFG | Mizuho Financial Group, Inc. | $133.2B | 15.07 | 1.79 | 12.3% |
| HDB | HDFC Bank Limited | $116.2B | 13.52 | 1.76 | |
| IBN | ICICI Bank Limited | $100.9B | 17.19 | 2.54 | 15.7% |
| SBID.L | State Bank of India | $97.5B | |||
| 0KEF.L | The PNC Financial Services Group, Inc. | $93.1B | 12.80 | 1.47 | 12.3% |
| PNC | The PNC Financial Services Group, Inc. | $92.6B | 13.13 | 1.51 |
Price Performance
| 1 month | +2.66% |
| 3 months | +5.44% |
| Year-to-date | +6.78% |
| 1 year | +3.80% |
| 3 years | +45.95% |
52-Week Range
| 52-week High | $45.85 |
| 52-week Low | $36.66 |
| Avg Volume (90d) | 19K |
Dividend History
| Date | Amount | Yield |
|---|---|---|
| 2026-08-07 | $0.2900 | 2.64% |
| 2026-05-07 | $0.2900 | 2.64% |
| 2026-02-06 | $0.2900 | 2.64% |
| 2025-11-06 | $0.2800 | 2.55% |
| 2025-08-07 | $0.5000 | 4.55% |
| 2025-05-08 | $0.2800 | 2.55% |
| 2025-02-06 | $0.2800 | 2.55% |
| 2024-11-07 | $0.2700 | 2.46% |
| 2024-08-07 | $0.2700 | 2.46% |
| 2024-05-08 | $0.2600 | 2.37% |
Related companies: BCML · CBAN · COSO · CZFS · CZNC · FNLC · PCB
Explore sector: Financial Services · Banks - Regional
More sections of FSBW: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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