First Business Financial Services Past Earnings Performance

Past criteria checks 3/6

First Business Financial Services has been growing earnings at an average annual rate of 14.9%, while the Banks industry saw earnings growing at 18% annually. Revenues have been growing at an average rate of 12% per year. First Business Financial Services's return on equity is 12.7%, and it has net margins of 27%.

Key information

14.9%

Earnings growth rate

15.8%

EPS growth rate

Banks Industry Growth	10.6%
Revenue growth rate	12.0%
Return on equity	12.7%
Net Margin	27.0%
Last Earnings Update	30 Sep 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown

How First Business Financial Services makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

DB:45D Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses
30 Sep 24	140	38	85
30 Jun 24	139	37	85
31 Mar 24	136	35	83
31 Dec 23	136	35	82
30 Sep 23	135	36	82
30 Jun 23	134	36	80
31 Mar 23	136	39	79
31 Dec 22	132	39	76
30 Sep 22	127	38	72
30 Jun 22	123	36	71
31 Mar 22	118	34	69
31 Dec 21	119	35	68
30 Sep 21	114	32	68
30 Jun 21	106	28	66
31 Mar 21	95	23	63
31 Dec 20	85	17	61
30 Sep 20	84	16	60
30 Jun 20	83	17	58
31 Mar 20	87	20	58
31 Dec 19	87	23	57
30 Sep 19	82	21	56
30 Jun 19	83	21	55
31 Mar 19	80	18	54
31 Dec 18	78	16	52
30 Sep 18	75	16	50
30 Jun 18	70	13	48
31 Mar 18	68	12	47
31 Dec 17	68	12	47
30 Sep 17	76	12	46
30 Jun 17	70	12	46
31 Mar 17	72	14	46
31 Dec 16	70	15	46
30 Sep 16	68	15	45
30 Jun 16	75	16	45
31 Mar 16	74	17	43
31 Dec 15	72	16	43
30 Sep 15	70	16	40
30 Jun 15	65	15	36
31 Mar 15	60	15	33
31 Dec 14	55	14	30
30 Sep 14	54	14	27
30 Jun 14	53	14	26
31 Mar 14	52	14	25
31 Dec 13	52	13	25

Quality Earnings: 45D has high quality earnings.

Growing Profit Margin: 45D's current net profit margins (27%) are higher than last year (26.3%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: 45D's earnings have grown by 14.9% per year over the past 5 years.

Accelerating Growth: 45D's earnings growth over the past year (6.2%) is below its 5-year average (14.9% per year).

Earnings vs Industry: 45D earnings growth over the past year (6.2%) did not outperform the Banks industry 12.6%.

Return on Equity

High ROE: 45D's Return on Equity (12.7%) is considered low.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/27 20:03
End of Day Share Price	2024/12/23 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

First Business Financial Services, Inc. is covered by 7 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Jeffrey Rulis	D.A. Davidson & Co.
null null	D.A. Davidson & Co.
Brian Martin	FIG Partners

First Business Financial Services Past Earnings Performance

Past criteria checks 3/6

Key information

Recent past performance updates

Third quarter 2024 earnings released: EPS: US$1.27 (vs US$1.17 in 3Q 2023)

First Business Financial Services, Inc. to Report Q3, 2024 Results on Oct 24, 2024

Second quarter 2024 earnings released: EPS: US$1.26 (vs US$0.98 in 2Q 2023)

First quarter 2024 earnings released: EPS: US$1.06 (vs US$1.05 in 1Q 2023)

Full year 2023 earnings released: EPS: US$4.33 (vs US$4.75 in FY 2022)

Full year 2023 earnings released: EPS: US$4.45 (vs US$4.75 in FY 2022)

Recent updates

Investor sentiment improves as stock rises 16%

Third quarter dividend of US$0.25 announced

President recently sold €252k worth of stock

First Business Financial Services, Inc. Declares Quarterly Cash Dividend on its Common Stock, Payable on November 20, 2024

Third quarter 2024 earnings released: EPS: US$1.27 (vs US$1.17 in 3Q 2023)

First Business Financial Services, Inc. to Report Q3, 2024 Results on Oct 24, 2024

New minor risk - Insider selling

Executive Vice President recently sold €183k worth of stock

Second quarter dividend of US$0.25 announced

First Business Financial Services, Inc. Declares Quarterly Cash Dividend on its Common Stock, Payable on August 21, 2024

Second quarter 2024 earnings released: EPS: US$1.26 (vs US$0.98 in 2Q 2023)

Investor sentiment improves as stock rises 17%

High number of new directors

First quarter dividend of US$0.25 announced

First Business Financial Services, Inc. (NasdaqGS:FBIZ) announces an Equity Buyback for $5 million worth of its shares.

First Business Bank Declares Quarterly Cash Dividends, Payable on May 22, 2024

Mark Bugher to Retire from the Board of First Business Financial Services, Inc. at the Conclusion of AGM

First quarter 2024 earnings released: EPS: US$1.06 (vs US$1.05 in 1Q 2023)

First Business Financial Services, Inc., Annual General Meeting, Apr 26, 2024

Full year 2023 earnings released: EPS: US$4.33 (vs US$4.75 in FY 2022)

Fourth quarter dividend of US$0.25 announced

First Business Financial Services, Inc. Announces the Resignation of Mark D. Bugher from the Board of Directors, Effective on or About April 26, 2024

First Business Financial Services, Inc. Declares Quarterly Cash Dividend on Its Common Stock, Payable on February 21, 2024

Full year 2023 earnings released: EPS: US$4.45 (vs US$4.75 in FY 2022)

First Business Financial Services, Inc. Declares Quarterly Cash Dividend on Its Common Stock, Payable on November 16, 2023

First Business Financial Services, Inc. Declares Quarterly Cash Dividend on Its Common Stock, Payable on November 16 2023

Third quarter 2023 earnings released: EPS: US$1.20 (vs US$1.26 in 3Q 2022)

Chief Human Resources Officer recently sold €238k worth of stock

First Business Financial Services, Inc. Declares Quarterly Cash Dividend on Common Stock, Payable on August 17 2023

Second quarter 2023 earnings released: EPS: US$1.01 (vs US$1.29 in 2Q 2022)

Independent Chair of the Board recently bought €168k worth of stock

Investor sentiment improves as stock rises 16%

First quarter 2023 earnings released: EPS: US$1.08 (vs US$1.02 in 1Q 2022)

Investor sentiment deteriorates as stock falls 15%

First Business Financial Services, Inc. (NasdaqGS:FBIZ) announces an Equity Buyback for $5 million worth of its shares.

First Business Financial Services, Inc. Increases Quarterly Common Stock Dividend, Payable on February 16, 2023

Full year 2022 earnings released: EPS: US$4.88 (vs US$4.17 in FY 2021)

First Business Financial Services, Inc. Reports Unaudited Net Charge-Offs for the Fourth Quarter Ended December 31, 2022

First Business Financial Services, Inc. Announces Executive Changes

General Counsel recently sold €107k worth of stock

General Counsel recently sold €107k worth of stock

Insufficient new directors

First Business Financial Services, Inc. Declares Quarterly Cash Dividend, Payable on November 17, 2022

Third quarter 2022 earnings released: EPS: US$1.29 (vs US$1.07 in 3Q 2021)

Independent Chair of the Board recently bought €161k worth of stock

Second quarter 2022 earnings released: EPS: US$1.33 (vs US$0.95 in 2Q 2021)

First Business Bank Declares Quarterly Cash Dividends, Payable on August 18, 2022

First Business Financial Services, Inc. Appoints Brian D. Spielmann as Deputy Chief Financial Officer

First Business Bank Declares Quarterly Cash Dividend, Payable on May 19, 2022

First quarter 2022 earnings released: EPS: US$1.05 (vs US$1.13 in 1Q 2021)

Insufficient new directors

First Business Announces 10 Quarterly Cash Dividend, Payable on February 17, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Insufficient new directors

Third quarter 2021 earnings released: EPS US$1.07 (vs US$0.50 in 3Q 2020)

Second quarter 2021 earnings released: EPS US$0.95 (vs US$0.39 in 2Q 2020)

First Business Financial Services, Inc.(NasdaqGS:FBIZ) dropped from Russell 2000 Defensive Index

First quarter 2021 earnings released: EPS US$1.15 (vs US$0.38 in 1Q 2020)

First Business Financial Services, Inc. Declares Quarterly Cash Dividend, Payable on May 24, 2021

Investor sentiment improved over the past week

First Business Financial Services, Inc., Annual General Meeting, Apr 30, 2021

New 90-day high: €18.24

Full year 2020 earnings released: EPS US$1.97 (vs US$2.68 in FY 2019)

New 90-day high: €18.07

Investor sentiment improved over the past week

First Business Financial Services, Inc. Announces Board Changes

Full year 2020 earnings released: EPS US$2.03 (vs US$2.68 in FY 2019)

Market bids up stock over the past week

New 90-day high: €16.36