First Business Financial Services (FBIZ) financial statements
First Business Financial Services reported revenue of $169M in fiscal 2025, up 8.4% a year over 9 years.
Net income was $50M.
Free cash flow was $61M, and the company returned $10M in dividends and $1M in net buybacks.
The diluted share count fell 5% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from First Business Financial Services's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $81M | $77M | $86M | $93M | $104M | $113M | $128M | $144M | $153M | $169M |
| Selling, general and admin | $2M | $2M | $2M | — | — | — | — | — | — | — |
| Interest expense | $15M | $15M | $24M | $32M | $17M | $11M | $23M | $82M | — | — |
| Pre-tax income | $17M | $14M | $18M | $24M | $18M | $47M | $52M | $47M | $51M | $60M |
| Income tax | $2M | $2M | $1M | $1M | $1M | $11M | $11M | $10M | $7M | $10M |
| Net income | $15M | $12M | $16M | $23M | $17M | $36M | $41M | $37M | $44M | $50M |
| EPS (diluted) | $1.71 | $1.36 | $1.86 | $2.68 | $1.97 | $4.17 | $4.75 | $4.33 | $5.20 | $5.94 |
| Diluted shares | 9M | 9M | 9M | 9M | 8M | 8M | 8M | 8M | 8M | 8M |
| Net margin | 18.3% | 15.4% | 19.1% | 25.0% | 16.3% | 31.7% | 32.0% | 25.7% | 28.8% | 29.8% |
Balance sheet
Fiscal years, from First Business Financial Services's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $78M | $53M | $87M | $67M | $57M | $57M | $103M | $140M | $158M | $39M |
| Property, plant and equipment | $4M | $3M | $3M | $3M | $2M | $2M | $4M | $6M | $5M | $5M |
| Goodwill | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M |
| Total assets | $1.8B | $1.8B | $2.0B | $2.1B | $2.6B | $2.7B | $3.0B | $3.5B | $3.9B | $4.1B |
| Total liabilities | $1.6B | $1.6B | $1.8B | $1.9B | $2.4B | $2.4B | $2.7B | $3.2B | $3.5B | $3.7B |
| Shareholders' equity | $162M | $169M | $181M | $194M | $206M | $232M | $261M | $290M | $329M | $372M |
| Net debt | -$78M | -$53M | -$87M | -$67M | -$57M | -$57M | -$103M | -$140M | -$158M | -$39M |
Cash flow
Fiscal years, from First Business Financial Services's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $26M | $22M | $25M | $29M | $27M | $36M | $39M | $52M | $57M | $62M |
| Capital spending | $584,000 | $1M | $969,000 | $225,000 | $264,000 | $391,000 | $3M | $3M | $223,000 | $595,000 |
| Free cash flow | $26M | $21M | $24M | $29M | $26M | $36M | $35M | $49M | $57M | $61M |
| Stock-based compensation | $994,000 | $1M | $1M | $2M | $2M | $3M | $3M | $3M | $3M | $3M |
| Dividends paid | $4M | $5M | $5M | $5M | $6M | $6M | $7M | $8M | $8M | $10M |
| Share buybacks (net) | -$467,000 | -$323,000 | -$533,000 | -$7M | -$2M | -$5M | -$6M | -$3M | -$1M | -$1M |
| Net borrowing | -$2M | -$1M | $0 | — | — | — | — | — | — | — |
| Free cash flow margin | 31.5% | 27.4% | 28.4% | 30.8% | 25.4% | 31.6% | 27.7% | 34.3% | 37.3% | 36.2% |
| Dividends per share | $0.49 | $0.53 | $0.57 | $0.61 | $0.67 | $0.74 | $0.81 | $0.93 | $1.02 | $1.19 |
Questions
What was First Business Financial Services's revenue in 2025?
$169M in fiscal 2025, from its 10-K filing.
How much free cash flow does First Business Financial Services generate?
$61M in fiscal 2025 (operating cash flow minus capital spending).
From First Business Financial Services's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.