What is FS Bancorp, Inc.'s earnings per share (EPS)?

FS Bancorp, Inc. (FSBW) reported diluted earnings per share of $4.29 for fiscal year 2025. This represents a -1.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

FS Bancorp (FSBW) Financials

FSBW NASDAQ

Trailing 12 months to June 30, 2026

Revenue $156.0M +6.6% YoY

Net Income $33.4M -0.2% YoY

EPS (Diluted) $4.35 +3.6% YoY

Free Cash Flow $98.1M +84.0% YoY

Market Cap $344.1M as of Oct 26, 2026

Price / Sales 2.2x on $156.0M revenue, trailing 12 months to June 30, 2026

Price / Earnings 10.3x on $33.4M net income, trailing 12 months to June 30, 2026

Price / Book 1.1x on $319.0M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 10, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FSBW SEC filings page.

FS Bancorp, Inc. (FSBW) reported $156.0M in revenue over the twelve months to Jun 30, 2026, up 6.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 FSBW FY2025 2026-10-25

FS Bancorp is growing its asset base, but higher funding costs and reinvestment are compressing earnings quality and returns.

Revenue advanced 5.5% in FY2025, yet net income declined 4.8%; higher interest expense is absorbing the benefit of expansion. The net profit margin ended at 21.8%, down from 24.2% in FY2024, showing that bottom-line pressure is reaching earnings rather than reflecting only slower growth.

Operating cash flow was $72.3M against net income of $33.3M, so the large spread indicates that balance-sheet movements, not just recurring earnings, are driving cash conversion. Capital expenditures climbed from $1.6M in FY2024 to $20.4M in FY2025, meaning stronger operating inflow did not translate proportionally into discretionary cash.

Assets grew 5.5% while liabilities grew 5.7%, so expansion continued to be financed mainly through liabilities rather than retained capital. Liabilities were 90.4% of assets in FY2025, while return on assets was 1.0%; this liability-funded structure makes equity returns more sensitive to funding costs than asset returns.

Financial Health Signals

Financial Health Score 48/100

Scored as: Banks peer group

Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of FS Bancorp, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Earnings

FS Bancorp, Inc. earned a return on assets of 1.0% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is down from 1.2% the prior year. Earnings ranks banks on that return over three years, and FS Bancorp, Inc. scores 68/100 among other banks.

Growth

FS Bancorp, Inc. reported revenue of $152.7M in fiscal year 2025, against $144.7M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and FS Bancorp, Inc. scores 27/100 among other banks.

Capital

FS Bancorp, Inc. funded 9.6% of its assets with shareholders' equity at the end of fiscal year 2025, holding $307.7M of equity against $3.2B of assets. Capital ranks banks on that cushion, and FS Bancorp, Inc. scores 28/100 among other banks.

Efficiency

Efficiency measures what a bank spends running itself against the revenue that spending brings in, so a lower ratio is the better one. FS Bancorp, Inc. scores 39/100 on it among other banks.

Credit Quality

Credit Quality measures the money a bank set aside for loans it expects to go bad, against the size of the loan book it set that money aside for. FS Bancorp, Inc. scores 32/100 on it among other banks.

Stability

FS Bancorp, Inc. reported net income of $33.3M in fiscal year 2025, against $35.0M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and FS Bancorp, Inc. scores 94/100 among other banks.

Piotroski F-Score Partial

5/6

FS Bancorp, Inc. passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$38.8M

YoY+4.1%

QoQ+2.2%

5Y CAGR+5.7%

10Y CAGR+10.2%

FS Bancorp, Inc. generated $38.8M in revenue in Q2 2026. This represents an increase of 4.1% from the same quarter a year earlier. Against the prior quarter it is up 2.2%.

Net Income

$7.9M

YoY+2.7%

QoQ+1.4%

5Y CAGR-1.5%

10Y CAGR+10.8%

FS Bancorp, Inc. reported $7.9M in net income in Q2 2026. This represents an increase of 2.7% from the same quarter a year earlier. Against the prior quarter it is up 1.4%.

EPS (Diluted)

$1.04

YoY+5.1%

QoQ+2.0%

5Y CAGR+1.2%

FS Bancorp, Inc. earned $1.04 per diluted share (EPS) in Q2 2026. This represents an increase of 5.1% from the same quarter a year earlier. Against the prior quarter it is up 2.0%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

$51.4M

YoY+778.4%

QoQ+509.4%

5Y CAGR-0.9%

10Y CAGR+27.5%

FS Bancorp, Inc. generated $51.4M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 778.4% from the same quarter a year earlier. Against the prior quarter it is up 509.4%.

Cash & Debt

$29.7M

YoY-10.5%

QoQ-23.2%

5Y CAGR-19.3%

10Y CAGR+7.2%

FS Bancorp, Inc. held $29.7M in cash as of Q2 2026; no long-term debt figure is on record for that period.

Dividends Per Share

$0.29

YoY+3.6%

QoQ0.0%

5Y CAGR+15.7%

FS Bancorp, Inc. paid $0.29 per share in dividends in Q2 2026. This represents an increase of 3.6% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

YoY-2.2%

QoQ+0.2%

5Y CAGR-2.0%

FS Bancorp, Inc. had 7M shares outstanding in Q2 2026. This represents a decrease of 2.2% from the same quarter a year earlier. Against the prior quarter it is up 0.2%.

Margins & Returns

Net Margin

20.4%

YoY-0.3pp

QoQ-0.2pp

5Y change-8.6pp

10Y change+1.1pp

FS Bancorp, Inc.'s net profit margin was 20.4% in Q2 2026, showing the share of revenue converted to profit. This is down 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.

Return on Equity

2.5%

YoY-0.1pp

QoQ0.0pp

5Y change-1.1pp

10Y change-1.2pp

FS Bancorp, Inc.'s quarterly ROE was 2.5% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 0.1 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$3.6M

YoY-30.4%

QoQ+486.6%

FS Bancorp, Inc. spent $3.6M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 30.4% from the same quarter a year earlier. Against the prior quarter it is up 486.6%.

Capital Expenditures

$574K

YoY-55.6%

QoQ+110.3%

5Y CAGR-17.1%

10Y CAGR+2.6%

FS Bancorp, Inc. invested $574K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 55.6% from the same quarter a year earlier. Against the prior quarter it is up 110.3%.

R&D Spending

Not reported for Q2 2026.

FSBW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

FSBW quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$156.0M	$152.7M+5.5%	$144.7M+0.6%	$143.8M+17.5%	$122.4M-1.4%	$124.2M-4.1%	$129.5M+38.7%	$93.3M+18.2%	$78.9M+20.9%	$65.3M+13.7%	$57.4M+25.8%	$45.6M+41.9%	$32.2M+13.0%	$28.5M+26.0%	$22.6M+41.6%	$15.9M
SG&A Expenses	$13.7M	$14.9M+10.3%	$13.5M+3.5%	$13.1M+21.7%	$10.7M-0.4%	$10.8M+3.1%	$10.5M+7.7%	$9.7M+44.9%	$6.7M+8.1%	$6.2M+3.4%	$6.0M+37.1%	$4.4M+25.8%	$3.5M+15.0%	$3.0M+19.6%	$2.5M+29.8%	$1.9M
Interest Expense	$68.2M	$66.8M+8.3%	$61.7M+40.7%	$43.9M+204.5%	$14.4M+48.2%	$9.7M-33.9%	$14.7M-23.8%	$19.3M+88.9%	$10.2M+107.3%	$4.9M+18.5%	$4.2M+13.8%	$3.7M+35.4%	$2.7M+24.1%	$2.2M-7.8%	$2.4M-21.4%	$3.0M
Income Tax	$8.5M	$7.8M+18.6%	$6.6M-28.9%	$9.2M+25.6%	$7.3M-26.7%	$10.0M-5.5%	$10.6M+95.6%	$5.4M+28.2%	$4.2M-35.0%	$6.5M+15.9%	$5.6M+15.0%	$4.9M+152.4%	$1.9M-4.4%	$2.0Mn/m	-$2.1Mn/m	$0
Net Income	$33.4M	$33.3M-4.8%	$35.0M-2.9%	$36.1M+21.6%	$29.6M-20.8%	$37.4M-4.7%	$39.3M+72.8%	$22.7M-6.7%	$24.3M+72.9%	$14.1M+34.2%	$10.5M+18.3%	$8.9M+95.5%	$4.5M+15.8%	$3.9M-26.0%	$5.3M+242.7%	$1.5M
EPS (Basic)	N/A	$4.35-2.9%	$4.48-3.2%	$4.63+23.5%	$3.75-16.3%	$4.48	$4.58	$5.13-22.0%	$6.58+44.6%	$4.55+25.3%	$3.63+21.8%	$2.98+96.1%	$1.52+17.8%	$1.29-26.7%	$1.76	N/A
EPS (Diluted)	$4.35	$4.29-1.6%	$4.36-4.4%	$4.56+23.2%	$3.70-15.3%	$4.37	$4.49	$5.01-20.3%	$6.29+47.0%	$4.28+21.9%	$3.51+19.8%	$2.93+92.8%	$1.52+17.8%	$1.29-26.7%	$1.76	N/A
Diluted Shares (Avg)	N/A	8M-3.2%	8M+1.5%	8M-1.2%	8M-6.5%	8M	9M	5M+16.9%	4M+17.6%	3M+10.1%	3M-1.4%	3M+1.6%	3M-1.5%	3M+0.9%	3M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$38.8M+4.1%	$37.9M+5.1%	$40.0M+12.0%	$39.3M+5.6%	$37.3M+2.8%	$36.1M+1.8%	$35.7M-0.5%	$37.2M+4.5%
SG&A Expenses	$2.7M-29.4%	$3.4M-1.9%	$3.7M+15.9%	$4.0M+3.8%	$3.8M+8.7%	$3.4M+14.5%	$3.2M-4.5%	$3.8M+12.3%
Interest Expense	$17.0M+2.5%	$16.8M+6.2%	$17.2M+8.2%	$17.3M+9.4%	$16.6M+6.8%	$15.8M+8.8%	$15.9M+13.4%	$15.8M+25.0%
Income Tax	$2.1M+4.2%	$2.1M+43.5%	$1.9M-23.3%	$2.4Mn/m	$2.0M-14.5%	$1.4M-32.5%	$2.5M+7.2%	-$420K-116.6%
Net Income	$7.9M+2.7%	$7.8M-2.4%	$8.4M+14.1%	$9.2M-10.8%	$7.7M-13.7%	$8.0M-4.5%	$7.4M-24.5%	$10.3M+14.9%
EPS (Basic)	$1.06+6.0%	$1.04+2.0%	$1.12+19.1%	$1.20-9.1%	$1.00-13.0%	$1.02-4.7%	$0.94-24.8%	$1.32+14.8%
EPS (Diluted)	$1.04+5.1%	$1.02+1.0%	$1.11+22.0%	$1.18-8.5%	$0.99-12.4%	$1.01-4.7%	$0.91-26.0%	$1.29+14.2%
Diluted Shares (Avg)	7M-2.8%	8M-3.5%	N/A	8M-2.9%	8M-1.3%	8M-0.2%	N/A	8M+1.0%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

FSBW Balance Sheet

FSBW quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$3.2B+5.5%	$3.0B+1.9%	$3.0B+12.9%	$2.6B+15.2%	$2.3B+8.2%	$2.1B+23.4%	$1.7B+5.6%	$1.6B+65.2%	$981.8M+18.6%	$827.9M+22.2%	$677.6M+32.9%	$509.8M+21.6%	$419.2M+16.8%	$359.0M+26.5%	$283.8M
Cash & Equivalents	$28.2M-10.8%	$31.6M-51.8%	$65.7M+58.5%	$41.4M+56.4%	$26.5M-71.1%	$91.6M+100.0%	$45.8M+39.7%	$32.8M+73.3%	$18.9M-48.1%	$36.5M+49.1%	$24.5M+57.2%	$15.6M-59.6%	$38.5M+466.7%	$6.8M-64.7%	$19.3M
Goodwill	$3.6M0.0%	$3.6M0.0%	$3.6M+55.4%	$2.3M0.0%	$2.3M0.0%	$2.3M0.0%	$2.3M0.0%	$2.3M0.0%	$2.3M0.0%	$2.3Mn/m	$0	N/A	N/A	N/A	N/A
Total Liabilities	$2.9B+5.7%	$2.7B+0.9%	$2.7B+12.8%	$2.4B+17.8%	$2.0B+8.3%	$1.9B+24.5%	$1.5B+4.9%	$1.4B+67.7%	$859.8M+15.1%	$746.9M+24.0%	$602.2M+35.7%	$443.9M+24.4%	$356.9M+19.3%	$299.1M+16.4%	$257.0M
Long-Term Debt	N/A	N/A	N/A	$186.5M+338.6%	$42.5M-74.4%	$165.8M+95.4%	$84.9M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$307.7M+4.0%	$295.8M+11.8%	$264.5M+14.2%	$231.7M-6.4%	$247.5M+7.6%	$230.0M+14.9%	$200.2M+11.2%	$180.0M+47.6%	$122.0M+50.6%	$81.0M+7.6%	$75.3M+14.4%	$65.8M+5.7%	$62.3M+4.0%	$59.9M+123.8%	$26.8M
Retained Earnings	$280.2M+9.0%	$257.1M+11.6%	$230.4M+14.0%	$202.1M+12.8%	$179.2M+22.4%	$146.4M+32.2%	$110.7M+21.9%	$90.9M+32.8%	$68.4M+23.1%	$55.6M	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$3.2B+0.1%	$3.2B+4.5%	$3.2B+5.5%	$3.2B+8.0%	$3.2B+8.0%	$3.1B+3.2%	$3.0B+1.9%	$3.0B+1.7%
Cash & Equivalents	$29.7M-10.5%	$38.7M-38.3%	$28.2M-10.8%	$61.3M+51.9%	$33.2M+0.6%	$62.7M+38.2%	$31.6M-51.8%	$40.3M-50.0%
Goodwill	$3.6M0.0%	$3.6M0.0%	$3.6M0.0%	$3.6M0.0%	$3.6M0.0%	$3.6M0.0%	$3.6M0.0%	$3.6M0.0%
Total Liabilities	$2.9B-0.6%	$2.9B+4.4%	$2.9B+5.7%	$2.9B+8.5%	$2.9B+8.3%	$2.8B+2.8%	$2.7B+0.9%	$2.7B+0.4%
Total Equity	$319.0M+7.3%	$313.9M+5.0%	$307.7M+4.0%	$300.5M+4.0%	$297.2M+4.6%	$298.8M+7.5%	$295.8M+11.8%	$288.9M+15.3%
Retained Earnings	$291.6M+8.6%	$285.9M+8.7%	$280.2M+9.0%	$273.9M+8.8%	$268.5M+10.2%	$262.9M+11.1%	$257.1M+11.6%	$251.8M+13.2%

Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

FSBW Cash Flow Statement

FSBW quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$117.7M	$72.3M+42.3%	$50.8M-34.6%	$77.7M-58.0%	$184.9M+69.6%	$109.0Mn/m	-$32.3M-452.2%	$9.2M-57.2%	$21.4M+42.1%	$15.1M+320.4%	$3.6Mn/m	-$7.1Mn/m	-$4.0M-166.0%	$6.1Mn/m	-$759K-116.0%	$4.7M
Depreciation & Amortization	N/A	$2.8M+12.0%	$2.5M-3.8%	$2.6M+4.0%	$2.5M-7.4%	$2.7M-3.6%	$2.8M0.0%	$2.8M+55.6%	$1.8M+12.5%	$1.6M+14.3%	$1.4M+16.7%	$1.2M+9.1%	$1.1M+20.4%	$914K+9.7%	$833K+9.6%	$760K
Stock-Based Compensation	N/A	$2.3M+24.8%	$1.8M-10.1%	$2.0M+2.0%	$2.0M+36.3%	$1.4M	N/A	$869K+13.3%	$767K+21.0%	$634K-19.0%	$783K+5.0%	$746K+54.5%	$483Kn/m	$0-100.0%	$285Kn/m	$0
Capital Expenditures	$19.6M	$20.4M+1146.1%	$1.6M-2.2%	$1.7M+7.7%	$1.6M-21.8%	$2.0M+43.9%	$1.4M-44.0%	$2.5M-35.1%	$3.8M+273.6%	$1.0M-71.7%	$3.6M+137.8%	$1.5M+73.2%	$873K-57.8%	$2.1M-43.2%	$3.6M+161.0%	$1.4M
Free Cash Flow	$98.1M	$51.9M+5.6%	$49.2M-35.3%	$76.0M-58.5%	$183.3M+71.3%	$107.0Mn/m	-$33.7M-601.9%	$6.7M-61.9%	$17.6M+25.4%	$14.1Mn/m	-$7Kn/m	-$8.6Mn/m	-$4.9M-221.6%	$4.0Mn/m	-$4.4M-232.0%	$3.3M
Investing Cash Flow	-$86.6M	-$206.4Mn/m	-$104.2M-234.2%	$77.7Mn/m	-$504.0Mn/m	-$310.8Mn/m	-$270.7Mn/m	-$55.2Mn/m	-$187.0Mn/m	-$169.4M-418.1%	$53.3Mn/m	-$139.8Mn/m	-$99.9Mn/m	-$31.7Mn/m	-$80.8Mn/m	-$10.2M
Financing Cash Flow	-$34.6M	$130.7M+576.6%	$19.3Mn/m	-$131.1M-139.2%	$334.1M+144.3%	$136.7M-60.8%	$348.8M+491.0%	$59.0M-67.1%	$179.4M+31.1%	$136.8Mn/m	-$44.8M-128.8%	$155.7M+92.2%	$81.0M+41.4%	$57.3M-17.1%	$69.1Mn/m	-$10.5M
Dividends Paid	$10.2M	$10.3M+24.2%	$8.3M+6.5%	$7.8M+9.4%	$7.1M+54.2%	$4.6M+28.8%	$3.6M+25.1%	$2.9M+49.1%	$1.9M+43.9%	$1.3M+22.1%	$1.1M+32.0%	$826K+17.3%	$704K+56.1%	$451Kn/m	$0	N/A
Share Buybacks	$10.7M	$15.4M+515.0%	$2.5M+1024.7%	$223K-98.6%	$15.6M+11.9%	$14.0M+42.4%	$9.8M+104.2%	$4.8M+1812.4%	$251K-8.7%	$275K-94.4%	$4.9M+4754.5%	$101K-95.5%	$2.2Mn/m	$0	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$52.0M+627.7%	$8.7M+6.6%	$12.4M-70.2%	$44.6Mn/m	$7.1M-27.9%	$8.2M+2873.1%	$41.5M+228.7%	-$891K-103.9%
Depreciation & Amortization	$2.4M-37.7%	$2.3M-2.5%	-$6.6Mn/m	$3.2M+46.6%	$3.9M+33.3%	$2.3M-17.6%	-$5.4Mn/m	$2.2M-33.8%
Stock-Based Compensation	$643K+22.2%	$627K+22.5%	N/A	$583K+25.6%	$526K	$512K+29.6%	N/A	$464K
Capital Expenditures	$574K-55.6%	$273K-22.0%	$15.7M+4012.3%	$3.0M+386.8%	$1.3M+369.8%	$350K-2.0%	$382K+38.4%	$621K+120.2%
Free Cash Flow	$51.4M+778.4%	$8.4M+7.8%	-$3.4M-108.2%	$41.6Mn/m	$5.9M-39.2%	$7.8Mn/m	$41.1M+232.9%	-$1.5M-106.7%
Investing Cash Flow	-$23.9Mn/m	$2.2Mn/m	-$29.2Mn/m	-$35.8Mn/m	-$133.3M-1175.3%	-$8.2M-418.9%	-$104.1Mn/m	-$15.1Mn/m
Financing Cash Flow	-$37.1M-138.4%	-$456K-101.5%	-$16.3M-130.2%	$19.2M-17.5%	$96.6Mn/m	$31.1Mn/m	$53.9M+44.8%	$23.3M+154.9%
Dividends Paid	$2.2M-0.4%	$2.2M-0.7%	$2.1M-0.3%	$3.8M+81.7%	$2.2M+6.7%	$2.2M+7.8%	$2.1M+8.3%	$2.1M+7.9%
Share Buybacks	$3.6M-30.4%	$620K-83.5%	$1.5Mn/m	$4.9M+3232.0%	$5.2M+121.5%	$3.8Mn/m	$0-100.0%	$147Kn/m

FSBW Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

FSBW quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Net Margin	21.8%-2.4pp	24.2%-0.9pp	25.1%+0.8pp	24.2%-5.9pp	30.1%-0.2pp	30.3%+6.0pp	24.3%-6.5pp	30.8%+9.3pp	21.6%+3.3pp	18.3%-1.2pp	19.4%+5.3pp	14.1%+0.3pp	13.8%-9.7pp	23.4%+13.8pp	9.7%
Return on Equity	10.8%-1.0pp	11.8%-1.8pp	13.6%+0.8pp	12.8%-2.3pp	15.1%-1.9pp	17.1%+5.7pp	11.3%-2.2pp	13.5%+2.0pp	11.5%-1.4pp	13.0%+1.2pp	11.8%+4.9pp	6.9%+0.6pp	6.3%-2.6pp	8.8%+3.1pp	5.8%
Return on Assets	1.0%-0.1pp	1.2%-0.1pp	1.2%+0.1pp	1.1%-0.5pp	1.6%-0.2pp	1.9%+0.5pp	1.3%-0.2pp	1.5%+0.1pp	1.4%+0.2pp	1.3%0.0pp	1.3%+0.4pp	0.9%-0.1pp	0.9%-0.5pp	1.5%+0.9pp	0.5%
Debt-to-Equity	N/A	N/A	N/A	0.81+0.6x	0.17-0.5x	0.72+0.3x	0.42	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Liabilities-to-Equity	9.39+0.1x	9.24-1.0x	10.24-0.1x	10.36+2.1x	8.24+0.1x	8.19+0.6x	7.55-0.5x	8.01+1.0x	7.05-2.2x	9.22+1.2x	7.99+1.3x	6.74+1.0x	5.73+0.7x	4.99-4.6x	9.60
Asset Turnover	0.050.0x	0.050.0x	0.050.0x	0.050.0x	0.050.0x	0.060.0x	0.050.0x	0.050.0x	0.070.0x	0.070.0x	0.070.0x	0.060.0x	0.070.0x	0.060.0x	0.06
FCF Margin	34.0%0.0pp	34.0%-18.8pp	52.8%	149.8%	86.2%+112.2pp	-26.0%-33.2pp	7.2%-15.2pp	22.4%+0.8pp	21.5%+21.6pp	0.0%+18.8pp	-18.8%-3.6pp	-15.2%-29.4pp	14.1%+33.6pp	-19.5%-40.4pp	20.9%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	20.4%-0.3pp	20.6%-1.6pp	21.1%+0.4pp	23.4%-4.3pp	20.7%-4.0pp	22.2%-1.5pp	20.7%-6.6pp	27.6%+2.5pp
Return on Equity	2.5%-0.1pp	2.5%-0.2pp	2.7%+0.2pp	3.0%-0.5pp	2.6%-0.6pp	2.7%-0.3pp	2.5%-1.2pp	3.6%0.0pp
Return on Assets	0.3%0.0pp	0.2%0.0pp	0.3%0.0pp	0.3%-0.1pp	0.2%-0.1pp	0.3%0.0pp	0.2%-0.1pp	0.4%0.0pp
Liabilities-to-Equity	8.97-0.7x	9.21-0.1x	9.39+0.1x	9.68+0.4x	9.69+0.3x	9.26-0.4x	9.24-1.0x	9.28-1.4x
Asset Turnover	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x
FCF Margin	132.5%	22.2%+0.6pp	-8.4%	105.9%	15.7%-10.9pp	21.7%+21.9pp	115.2%	-4.1%-67.5pp

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, Debt-to-Equity.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
FS Bancorp, Inc. FSBW	FY2025	$152.7M	$33.3M	21.8%	$344.1M	48/100
Colony Bankcorp Inc. CBAN	FY2025	$30.0M	$6.6M	22.1%	$433.3M	26/100
Bankwell Financial Group Inc BWFG	FY2025	$108.3M	$35.2M	32.5%	$535.9M	44/100
PCB Bancorp PCB	FY2025	$115.7M	$37.5M	32.4%	$406.5M	65/100
BayCom Corp BCML	FY2025	$100.5M	$23.9M	23.8%	$334.6M	55/100
Citizens Financial Services, Inc. CZFS	FY2025	$112.3M	$36.6M	32.6%	$406.9M	60/100

Where FS Bancorp, Inc. Ranks

Frequently Asked Questions

What is FS Bancorp, Inc.'s annual revenue?

FS Bancorp, Inc. (FSBW) reported $152.7M in total revenue for fiscal year 2025. This represents a 5.5% 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 FS Bancorp, Inc.'s revenue growing?

FS Bancorp, Inc. (FSBW) revenue grew by 5.5% year-over-year, from $144.7M to $152.7M in fiscal year 2025.

Is FS Bancorp, Inc. profitable?

Yes, FS Bancorp, Inc. (FSBW) reported a net income of $33.4M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $33.3M, with a net profit margin of 21.8%.

What is FS Bancorp, Inc.'s net profit margin?

FS Bancorp, Inc. (FSBW) had a net profit margin of 21.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does FS Bancorp, Inc. pay dividends?

Yes, FS Bancorp, Inc. (FSBW) paid $1.34 per share in dividends during fiscal year 2025.

What is FS Bancorp, Inc.'s return on equity (ROE)?

FS Bancorp, Inc. (FSBW) has a return on equity of 10.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is FS Bancorp, Inc.'s free cash flow?

FS Bancorp, Inc. (FSBW) generated $51.9M in free cash flow during fiscal year 2025. This represents a 5.6% 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 FS Bancorp, Inc.'s operating cash flow?

FS Bancorp, Inc. (FSBW) generated $72.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are FS Bancorp, Inc.'s total assets?

FS Bancorp, Inc. (FSBW) had $3.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are FS Bancorp, Inc.'s capital expenditures?

FS Bancorp, Inc. (FSBW) invested $20.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does FS Bancorp, Inc. buy back shares?

Yes, FS Bancorp, Inc. (FSBW) spent $15.4M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does FS Bancorp, Inc. have outstanding?

FS Bancorp, Inc. (FSBW) had 8M shares outstanding as of fiscal year 2025.

What is FS Bancorp, Inc.'s liabilities-to-equity ratio?

FS Bancorp, Inc. (FSBW) had a liabilities-to-equity ratio of 9.39 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.

What is FS Bancorp, Inc.'s return on assets (ROA)?

FS Bancorp, Inc. (FSBW) had a return on assets of 1.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is FS Bancorp, Inc.'s P/E ratio?

FS Bancorp, Inc. (FSBW) trades at 10.3x earnings, its market capitalization divided by $33.4M net income, trailing 12 months to June 30, 2026. The market capitalization is $344.1M as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is FS Bancorp, Inc.'s price-to-sales ratio?

FS Bancorp, Inc. (FSBW) trades at 2.2x sales, its market capitalization divided by $156.0M revenue, trailing 12 months to June 30, 2026. The market capitalization is $344.1M as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is FS Bancorp, Inc.'s Piotroski F-Score?

FS Bancorp, Inc. (FSBW) has a Piotroski F-Score of 5 out of 6 computable signals; 3 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.

How financially healthy is FS Bancorp, Inc.?

FS Bancorp, Inc. (FSBW) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is the average of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.