First Busey Corp Financials

BUSEP

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows First Busey Corp (BUSEP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BUSEP FY2025 2026-08-06

BUSEP’s FY2025 expansion was balance-sheet led, with assets and revenue scaling faster than profit and cash.

Equity nearly doubled to $2.47B in FY2025, yet return on equity fell to 5.5%. That combination says the company added capital much faster than earnings, so the latest growth improved loss-absorbing capacity and reduced reliance on leverage, but it also made each shareholder dollar less productive.

Cash conversion remained cleaner than the income statement suggests: operating cash flow was $193M and free cash flow $173M. Because the gap is small, capital spending is not the main drain; unlike a factory business, its real capital demand sits in supporting the balance sheet rather than replacing equipment.

The FY2025 revenue surge to $720M came with a lower net margin of 18.8%, so added scale did not produce obvious operating leverage. At the same time, shares outstanding expanded sharply to 87.6M, which means the year's earnings were divided across a much larger ownership base even before looking at any per-share metric.

Financial Health Signals

Financial health score pending refresh

We are recalculating First Busey Corp's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

4/7

First Busey Corp passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.42x

For every $1 of reported earnings, First Busey Corp generates $1.42 in operating cash flow ($192.6M OCF vs $135.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$719.6M

YoY+55.7%

5Y CAGR+17.1%

10Y CAGR+19.8%

First Busey Corp generated $719.6M in revenue in fiscal year 2025. This represents an increase of 55.7% from the prior year.

EBITDA

N/A

Net Income

$135.3M

YoY+19.0%

5Y CAGR+6.2%

10Y CAGR+13.2%

First Busey Corp reported $135.3M in net income in fiscal year 2025. This represents an increase of 19.0% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$173.0M

YoY+0.6%

5Y CAGR+1.7%

10Y CAGR+11.7%

First Busey Corp generated $173.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 0.6% from the prior year.

Cash & Debt

$280.2M

YoY-59.8%

5Y CAGR-16.5%

10Y CAGR-1.3%

First Busey Corp held $280.2M in cash against $113.8M in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.00

YoY+4.2%

5Y CAGR+2.6%

10Y CAGR+4.9%

First Busey Corp paid $1.00 per share in dividends in fiscal year 2025. This represents an increase of 4.2% from the prior year.

Shares Outstanding

88M

YoY+54.0%

5Y CAGR+10.0%

10Y CAGR+11.8%

First Busey Corp had 88M shares outstanding in fiscal year 2025. This represents an increase of 54.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

18.8%

YoY-5.8pp

5Y CAGR-11.9pp

10Y CAGR-14.3pp

First Busey Corp's net profit margin was 18.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.8 percentage points from the prior year.

Return on Equity

5.5%

YoY-2.7pp

5Y CAGR-2.4pp

10Y CAGR-5.0pp

First Busey Corp's ROE was 5.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$69.9M

5Y CAGR+41.6%

10Y CAGR+27.2%

First Busey Corp spent $69.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$19.6M

YoY+205.1%

5Y CAGR+36.1%

10Y CAGR+16.9%

First Busey Corp invested $19.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 205.1% from the prior year.

BUSEP Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$719.6M+55.7%	$462.3M+4.6%	$441.8M-1.9%	$450.2M+50.7%	$298.8M-8.5%	$326.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$289.1M+64.6%	$175.6M+8.0%	$162.6M+2.3%	$159.0M+9.4%	$145.3M+14.7%	$126.7M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$324.3M+61.3%	$201.1M+25.7%	$159.9M+337.6%	$36.5M+30.1%	$28.1M-35.6%	$43.7M
Income Tax	$51.4M+29.7%	$39.6M+26.4%	$31.3M-6.2%	$33.4M+0.2%	$33.4M+19.8%	$27.9M
Net Income	$135.3M+19.0%	$113.7M-7.2%	$122.6M-4.5%	$128.3M+3.9%	$123.4M+23.0%	$100.3M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$196.2M-2.0%	$200.2M+2.0%	$196.3M-0.9%	$198.0M+58.5%	$125.0M+7.0%	$116.8M-1.4%	$118.5M+1.9%	$116.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$85.2M+23.5%	$69.0M-6.9%	$74.1M-5.4%	$78.4M+16.0%	$67.6M+48.6%	$45.5M+1.9%	$44.6M+2.6%	$43.5M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$71.5M-7.8%	$77.5M-13.2%	$89.4M-5.2%	$94.3M+49.4%	$63.1M+26.8%	$49.7M-4.3%	$52.0M+5.2%	$49.4M
Income Tax	$13.7M-18.3%	$16.7M-17.1%	$20.2M+18.1%	$17.1M+738.6%	-$2.7M-128.9%	$9.3M-12.4%	$10.6M-4.6%	$11.1M
Net Income	$50.0M-17.7%	$60.8M+6.4%	$57.1M+20.4%	$47.4M+258.1%	-$30.0M-206.7%	$28.1M-12.2%	$32.0M+17.0%	$27.4M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BUSEP Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$18.1B+50.3%	$12.0B-1.9%	$12.3B-0.4%	$12.3B-4.1%	$12.9B+22.0%	$10.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$280.2M-59.8%	$697.7M-3.0%	$719.6M+216.8%	$227.2M-72.8%	$836.1M+21.4%	$688.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	$7.1B+5.8%	$6.7B
Goodwill	$383.3M+14.9%	$333.7M+5.0%	$317.9M0.0%	$317.9M0.0%	$317.9M+2.0%	$311.5M
Total Liabilities	$15.6B+46.6%	$10.7B-3.2%	$11.0B-1.6%	$11.2B-3.0%	$11.5B+24.4%	$9.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$113.8M	$0	N/A	N/A	N/A	N/A
Total Equity	$2.5B+78.5%	$1.4B+8.7%	$1.3B+11.0%	$1.1B-13.1%	$1.3B+3.9%	$1.3B
Retained Earnings	$336.7M+14.5%	$294.1M+24.0%	$237.2M+40.5%	$168.8M+82.5%	$92.5M+343.9%	$20.8M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$18.0B-0.4%	$18.1B-0.5%	$18.2B-3.9%	$18.9B-2.8%	$19.5B+61.6%	$12.0B+0.5%	$12.0B+0.1%	$12.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$288.5M+2.9%	$280.2M-27.3%	$385.5M-48.8%	$752.4M-37.3%	$1.2B+72.0%	$697.7M+26.0%	$553.7M+94.1%	$285.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$382.4M-0.2%	$383.3M0.0%	$383.3M+0.4%	$381.8M-0.9%	$385.1M+15.4%	$333.7M+0.1%	$333.5M+0.1%	$333.3M
Total Liabilities	$15.6B-0.1%	$15.6B-0.7%	$15.7B-4.6%	$16.5B-4.5%	$17.3B+62.1%	$10.7B+0.8%	$10.6B-0.5%	$10.6B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$123.5M+8.5%	$113.8M+23.1%	$92.4M	N/A	N/A	$0	N/A	N/A
Total Equity	$2.4B-2.3%	$2.5B+0.8%	$2.4B+1.5%	$2.4B+10.7%	$2.2B+57.6%	$1.4B-1.4%	$1.4B+5.2%	$1.3B
Retained Earnings	$359.2M+6.7%	$336.7M+11.1%	$303.1M+10.7%	$273.8M+9.7%	$249.5M-15.2%	$294.1M+5.1%	$279.9M+6.9%	$261.8M

BUSEP Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$192.6M+8.0%	$178.3M+2.8%	$173.4M+4.6%	$165.8M+2.3%	$162.0M-0.7%	$163.2M
Capital Expenditures	$19.6M+205.1%	$6.4M-32.6%	$9.5M+91.1%	$5.0M-1.1%	$5.0M+20.1%	$4.2M
Free Cash Flow	$173.0M+0.6%	$171.8M+4.9%	$163.9M+1.9%	$160.8M+2.4%	$157.0M-1.3%	$159.0M
Investing Cash Flow	$1.1B+66.8%	$657.9M+19.4%	$551.0M+289.4%	-$290.9M+64.9%	-$829.2M-13.7%	-$729.5M
Financing Cash Flow	-$1.7B-97.4%	-$858.1M-269.9%	-$232.0M+52.1%	-$483.9M-159.4%	$814.7M+12.3%	$725.6M
Dividends Paid	$91.0M+68.0%	$54.2M+2.1%	$53.1M+4.4%	$50.9M+0.2%	$50.8M+5.7%	$48.0M
Share Buybacks	$69.9M	$0-100.0%	$4.5M-54.8%	$9.9M-70.0%	$33.0M+169.3%	$12.3M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$51.5M-28.6%	$72.2M+15.5%	$62.5M+26.2%	$49.5M+490.7%	$8.4M-84.0%	$52.3M-13.0%	$60.1M+111.2%	$28.5M
Capital Expenditures	$2.5M-61.8%	$6.4M-19.6%	$8.0M+137.1%	$3.4M+87.9%	$1.8M-6.7%	$1.9M+94.9%	$988K-54.1%	$2.2M
Free Cash Flow	$49.1M-25.4%	$65.8M+20.7%	$54.5M+18.1%	$46.1M+600.6%	$6.6M-86.9%	$50.4M-14.8%	$59.1M+124.7%	$26.3M
Investing Cash Flow	$55.2M+199.2%	$18.5M-94.8%	$356.7M+219.7%	$111.6M-81.7%	$610.8M+1466.8%	$39.0M-85.5%	$268.0M+162.8%	$102.0M
Financing Cash Flow	-$98.5M+45.9%	-$182.1M+76.8%	-$786.1M-28.9%	-$609.6M-425.7%	-$116.0M-320.2%	$52.7M+188.2%	-$59.7M+86.3%	-$436.2M
Dividends Paid	$27.2M+1.8%	$26.7M-2.6%	$27.4M+21.4%	$22.6M+58.9%	$14.2M+4.2%	$13.6M0.0%	$13.6M+0.2%	$13.6M
Share Buybacks	$66.1M+121.8%	$29.8M+120.1%	$13.5M-37.4%	$21.7M+347.8%	$4.8M	$0	$0	$0

BUSEP Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	18.8%-5.8pp	24.6%-3.1pp	27.7%-0.8pp	28.5%-12.8pp	41.3%+10.6pp	30.7%
Return on Equity	5.5%-2.7pp	8.2%-1.4pp	9.6%-1.6pp	11.2%+1.8pp	9.4%+1.5pp	7.9%
Return on Assets	0.8%-0.2pp	0.9%-0.1pp	1.0%-0.0pp	1.0%+0.1pp	1.0%0.0pp	0.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.05+0.0	0.00-8.7	8.66-1.1	9.77+1.0	8.75+1.4	7.30
FCF Margin	24.0%-13.1pp	37.2%+0.1pp	37.1%+1.4pp	35.7%-16.8pp	52.5%+3.8pp	48.7%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	25.5%-4.9pp	30.3%+1.3pp	29.1%+5.1pp	23.9%+47.9pp	-24.0%-48.1pp	24.1%-2.9pp	27.0%+3.5pp	23.5%
Return on Equity	2.1%-0.4pp	2.5%+0.1pp	2.3%+0.4pp	2.0%+3.3pp	-1.4%-3.4pp	2.0%-0.3pp	2.3%+0.2pp	2.1%
Return on Assets	0.3%-0.1pp	0.3%+0.0pp	0.3%+0.1pp	0.3%+0.4pp	-0.1%-0.4pp	0.2%-0.0pp	0.3%+0.0pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.050.0	0.050.0	0.04-6.8	6.84-1.1	7.93+7.9	0.00-7.5	7.54-0.4	7.98
FCF Margin	25.0%-7.8pp	32.8%+5.1pp	27.8%+4.5pp	23.3%+18.0pp	5.3%-37.9pp	43.1%-6.8pp	49.9%+27.3pp	22.7%

Frequently Asked Questions

What is First Busey Corp's annual revenue?

First Busey Corp (BUSEP) reported $719.6M in total revenue for fiscal year 2025. This represents a 55.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is First Busey Corp's revenue growing?

First Busey Corp (BUSEP) revenue grew by 55.7% year-over-year, from $462.3M to $719.6M in fiscal year 2025.

Is First Busey Corp profitable?

Yes, First Busey Corp (BUSEP) reported a net income of $135.3M in fiscal year 2025, with a net profit margin of 18.8%.

How much debt does First Busey Corp have?

As of fiscal year 2025, First Busey Corp (BUSEP) had $280.2M in cash and equivalents against $113.8M in long-term debt.

What is First Busey Corp's net profit margin?

First Busey Corp (BUSEP) had a net profit margin of 18.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does First Busey Corp pay dividends?

Yes, First Busey Corp (BUSEP) paid $1.00 per share in dividends during fiscal year 2025.

What is First Busey Corp's return on equity (ROE)?

First Busey Corp (BUSEP) has a return on equity of 5.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is First Busey Corp's free cash flow?

First Busey Corp (BUSEP) generated $173.0M in free cash flow during fiscal year 2025. This represents a 0.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is First Busey Corp's operating cash flow?

First Busey Corp (BUSEP) generated $192.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are First Busey Corp's total assets?

First Busey Corp (BUSEP) had $18.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are First Busey Corp's capital expenditures?

First Busey Corp (BUSEP) invested $19.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does First Busey Corp buy back shares?

Yes, First Busey Corp (BUSEP) spent $69.9M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does First Busey Corp have outstanding?

First Busey Corp (BUSEP) had 88M shares outstanding as of fiscal year 2025.

What is First Busey Corp's debt-to-equity ratio?

First Busey Corp (BUSEP) had a debt-to-equity ratio of 0.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is First Busey Corp's return on assets (ROA)?

First Busey Corp (BUSEP) had a return on assets of 0.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is First Busey Corp's Piotroski F-Score?

First Busey Corp (BUSEP) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are First Busey Corp's earnings high quality?

First Busey Corp (BUSEP) has an earnings quality ratio of 1.42x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.