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FS BANCORP INC (FSBW) Stock Fundamental Analysis

NASDAQ:FSBW - Nasdaq - US30263Y1047 - Common Stock - Currency: USD

38.25  -0.53 (-1.37%)

After market: 38.25 0 (0%)

Fundamental Rating

3

Overall FSBW gets a fundamental rating of 3 out of 10. We evaluated FSBW against 405 industry peers in the Banks industry. FSBW may be in some trouble as it scores bad on both profitability and health. FSBW is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

FSBW had positive earnings in the past year.
In the past year FSBW had a positive cash flow from operations.
FSBW had positive earnings in 4 of the past 5 years.
In multiple years FSBW reported negative operating cash flow during the last 5 years.
FSBW Yearly Net Income VS EBIT VS OCF VS FCFFSBW Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M 100M 150M

1.2 Ratios

With an excellent Return On Assets value of 1.52%, FSBW belongs to the best of the industry, outperforming 90.98% of the companies in the same industry.
FSBW has a Return On Equity of 15.60%. This is amongst the best in the industry. FSBW outperforms 92.98% of its industry peers.
Industry RankSector Rank
ROA 1.52%
ROE 15.6%
ROIC N/A
ROA(3y)1.3%
ROA(5y)1.42%
ROE(3y)13.61%
ROE(5y)13.83%
ROIC(3y)N/A
ROIC(5y)N/A
FSBW Yearly ROA, ROE, ROICFSBW Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15

1.3 Margins

FSBW has a Profit Margin of 25.00%. This is in the better half of the industry: FSBW outperforms 62.16% of its industry peers.
FSBW's Profit Margin has declined in the last couple of years.
FSBW does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 25%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-6.51%
PM growth 5Y-4.32%
GM growth 3YN/A
GM growth 5YN/A
FSBW Yearly Profit, Operating, Gross MarginsFSBW Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30

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2

2. Health

2.1 Basic Checks

FSBW does not have a ROIC to compare to the WACC, probably because it is not profitable.
There is no outstanding debt for FSBW. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
FSBW Yearly Shares OutstandingFSBW Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2M 4M 6M 8M
FSBW Yearly Total Debt VS Total AssetsFSBW Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B 2.5B

2.2 Solvency

The Debt to FCF ratio of FSBW is 2.37, which is a good value as it means it would take FSBW, 2.37 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 2.37, FSBW is in line with its industry, outperforming 54.39% of the companies in the same industry.
FSBW has a Debt/Equity ratio of 0.17. This is a healthy value indicating a solid balance between debt and equity.
FSBW has a Debt to Equity ratio (0.17) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 2.37
Altman-Z N/A
ROIC/WACCN/A
WACC7.12%
FSBW Yearly LT Debt VS Equity VS FCFFSBW Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M 100M 150M 200M 250M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
FSBW Yearly Current Assets VS Current LiabilitesFSBW Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 2M 4M 6M

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2

3. Growth

3.1 Past

The earnings per share for FSBW have decreased by -3.51% in the last year.
FSBW shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 11.79% yearly.
EPS 1Y (TTM)-3.51%
EPS 3Y0.77%
EPS 5Y11.79%
EPS Q2Q%-25.2%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-0.52%

3.2 Future

The Earnings Per Share is expected to grow by 3.04% on average over the next years.
The Revenue is expected to grow by 5.90% on average over the next years.
EPS Next Y-3.56%
EPS Next 2Y3.04%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year5.48%
Revenue Next 2Y5.9%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
FSBW Yearly Revenue VS EstimatesFSBW Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 50M 100M 150M
FSBW Yearly EPS VS EstimatesFSBW Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3 4

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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 8.69, the valuation of FSBW can be described as very reasonable.
FSBW's Price/Earnings ratio is rather cheap when compared to the industry. FSBW is cheaper than 89.72% of the companies in the same industry.
When comparing the Price/Earnings ratio of FSBW to the average of the S&P500 Index (29.62), we can say FSBW is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 9.01, the valuation of FSBW can be described as reasonable.
Based on the Price/Forward Earnings ratio, FSBW is valued cheaper than 83.71% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.70, FSBW is valued rather cheaply.
Industry RankSector Rank
PE 8.69
Fwd PE 9.01
FSBW Price Earnings VS Forward Price EarningsFSBW Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

FSBW's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 14.34
EV/EBITDA N/A
FSBW Per share dataFSBW EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)0.74
EPS Next 2Y3.04%
EPS Next 3YN/A

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6

5. Dividend

5.1 Amount

FSBW has a Yearly Dividend Yield of 2.78%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 3.19, FSBW has a dividend in line with its industry peers.
FSBW's Dividend Yield is a higher than the S&P500 average which is at 2.27.
Industry RankSector Rank
Dividend Yield 2.78%

5.2 History

The dividend of FSBW is nicely growing with an annual growth rate of 34.02%!
FSBW has been paying a dividend for at least 10 years, so it has a reliable track record.
FSBW has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)34.02%
Div Incr Years11
Div Non Decr Years11
FSBW Yearly Dividends per shareFSBW Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

18.01% of the earnings are spent on dividend by FSBW. This is a low number and sustainable payout ratio.
The dividend of FSBW is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP18.01%
EPS Next 2Y3.04%
EPS Next 3YN/A
FSBW Yearly Income VS Free CF VS DividendFSBW Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M 100M 150M
FSBW Dividend Payout.FSBW Dividend Payout, showing the Payout Ratio.FSBW Dividend Payout.PayoutRetained Earnings

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FS BANCORP INC

NASDAQ:FSBW (2/21/2025, 8:21:54 PM)

After market: 38.25 0 (0%)

38.25

-0.53 (-1.37%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-21 2025-01-21/amc
Earnings (Next)04-22 2025-04-22/amc
Inst Owners71.01%
Inst Owner Change-61.87%
Ins Owners10.05%
Ins Owner Change4.78%
Market Cap299.50M
Analysts80
Price Target47.43 (24%)
Short Float %0.64%
Short Ratio2.79
Dividend
Industry RankSector Rank
Dividend Yield 2.78%
Yearly Dividend1
Dividend Growth(5Y)34.02%
DP18.01%
Div Incr Years11
Div Non Decr Years11
Ex-Date02-06 2025-02-06 (0.28)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)9.61%
Min EPS beat(2)8.61%
Max EPS beat(2)10.62%
EPS beat(4)4
Avg EPS beat(4)10.87%
Min EPS beat(4)6.04%
Max EPS beat(4)18.22%
EPS beat(8)4
Avg EPS beat(8)2.72%
EPS beat(12)8
Avg EPS beat(12)5.5%
EPS beat(16)11
Avg EPS beat(16)11.65%
Revenue beat(2)2
Avg Revenue beat(2)0.62%
Min Revenue beat(2)0.5%
Max Revenue beat(2)0.73%
Revenue beat(4)4
Avg Revenue beat(4)0.83%
Min Revenue beat(4)0.5%
Max Revenue beat(4)1.31%
Revenue beat(8)6
Avg Revenue beat(8)-0.02%
Revenue beat(12)9
Avg Revenue beat(12)0.54%
Revenue beat(16)12
Avg Revenue beat(16)3.17%
PT rev (1m)-5.1%
PT rev (3m)-2.11%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0.44%
EPS NY rev (3m)0.44%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 8.69
Fwd PE 9.01
P/S 1.66
P/FCF 14.34
P/OCF 13.36
P/B 1.04
P/tB 1.14
EV/EBITDA N/A
EPS(TTM)4.4
EY11.5%
EPS(NY)4.24
Fwd EY11.09%
FCF(TTM)2.67
FCFY6.97%
OCF(TTM)2.86
OCFY7.48%
SpS23.03
BVpS36.9
TBVpS33.46
PEG (NY)N/A
PEG (5Y)0.74
Profitability
Industry RankSector Rank
ROA 1.52%
ROE 15.6%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 25%
GM N/A
FCFM 11.58%
ROA(3y)1.3%
ROA(5y)1.42%
ROE(3y)13.61%
ROE(5y)13.83%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-6.51%
PM growth 5Y-4.32%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF 2.37
Debt/EBITDA N/A
Cap/Depr 13.73%
Cap/Sales 0.85%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 46.34%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC7.12%
ROIC/WACCN/A
Cap/Depr(3y)12.6%
Cap/Depr(5y)13.78%
Cap/Sales(3y)1.36%
Cap/Sales(5y)1.57%
Profit Quality(3y)378.3%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-3.51%
EPS 3Y0.77%
EPS 5Y11.79%
EPS Q2Q%-25.2%
EPS Next Y-3.56%
EPS Next 2Y3.04%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-0.52%
Revenue Next Year5.48%
Revenue Next 2Y5.9%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-87.9%
FCF growth 3YN/A
FCF growth 5Y33.99%
OCF growth 1Y-87.08%
OCF growth 3YN/A
OCF growth 5Y29.41%