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FS Bancorp, Inc. FSBW

Nasdaq · stock · Savings Institutions, Not Federally Chartered · website · IPO 2011-10-06

FS Bancorp, Inc. statistics & valuation

Market cap$320.5M
P / E9.6×
P / B1.0×
P / FCF6.2×
Dividend yield3.20%
Return on equity10.8%
Graham number +42.4%$62.34

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($62.34); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
13.00% 11.50% 13.50% 11.30% 17.10% 15.10% 12.80% 13.60% 11.80% 10.80% 2016201720182019202020212022202320242025
Shares outstanding
6.1M 7.4M 9.0M 9.0M 8.6M 8.4M 7.9M 7.8M 7.9M 7.6M 2016201720182019202020212022202320242025
Net debt ($)
$39.1M $74.2M $16.0M $145.1M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
1.30% 1.40% 1.50% 1.30% 1.90% 1.60% 1.10% 1.20% 1.20% 1.00% 2016201720182019202020212022202320242025
Free cash flow margin (%)
396.50% 545.70% 102.40% -1264.40% 2460.90% 2150.70% 1647.80% 2016201720182019202020212022202320242025
Debt / equity (×)
0.42× 0.72× 0.17× 0.81× 2016201720182019202020212022202320242025
EPS ($)
$1.75 $2.14 $3.15 $2.50 $4.49 $4.37 $3.70 $4.56 $4.36 $4.29 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

FS Bancorp, Inc. trades at about 10.2× earnings — near its 10-year norm (10-year range 6×–13.4×, median 9.7×).

6× 13.4×

Shaded band = 10-year range (6×–13.4×); dot = today's 10.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Net margin——781.7%347.8%860.2%1473.3%346.6%753.1%397.0%—
FCF margin——1647.8%2150.7%2460.9%-1264.4%102.4%545.7%396.5%—
Return on assets1.0%1.2%1.2%1.1%1.6%1.9%1.3%1.5%1.4%1.3%
Return on equity10.8%11.8%13.6%12.8%15.1%17.1%11.3%13.5%11.5%13.0%
Debt / equity———0.81×0.17×0.72×0.42×———

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.