FS Bancorp (FSBW) financial statements
FS Bancorp reported revenue of $153M in fiscal 2025, up 11.5% a year over 9 years.
Net income was $33M.
Free cash flow was $52M, and the company returned $10M in dividends and $15M in net buybacks.
The diluted share count rose 28% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from FS Bancorp's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $57M | $4M | $3M | $7M | $2M | $4M | $9M | $5M | $145M | $153M |
| Selling, general and admin | $6M | $6M | $7M | $10M | $10M | $11M | $11M | $13M | $14M | $15M |
| Interest expense | $4M | $5M | $10M | $19M | $15M | $10M | $14M | $44M | — | — |
| Pre-tax income | $16M | $21M | $29M | $28M | $50M | $47M | $37M | $45M | $42M | $41M |
| Income tax | $6M | $6M | $4M | $5M | $11M | $10M | $7M | $9M | $7M | $8M |
| Net income | $10M | $14M | $24M | $23M | $39M | $37M | $30M | $36M | $35M | $33M |
| EPS (diluted) | $1.75 | $2.14 | $3.15 | $2.50 | $4.49 | $4.37 | $3.70 | $4.56 | $4.36 | $4.29 |
| Diluted shares | 6M | 7M | 8M | 9M | 9M | 8M | 8M | 8M | 8M | 8M |
| Net margin | 18.3% | 397.0% | 753.1% | 346.6% | 1654.6% | 860.2% | 347.8% | 781.7% | 24.2% | 21.8% |
Balance sheet
Fiscal years, from FS Bancorp's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $36M | $19M | $33M | $46M | $92M | $26M | $41M | $66M | $32M | $28M |
| Property, plant and equipment | $16M | $15M | $29M | $29M | $27M | $27M | $25M | $31M | $30M | $44M |
| Goodwill | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $4M | $4M | $4M |
| Total assets | $828M | $982M | $1.6B | $1.7B | $2.1B | $2.3B | $2.6B | $3.0B | $3.0B | $3.2B |
| Total liabilities | $747M | $860M | $1.4B | $1.5B | $1.9B | $2.0B | $2.4B | $2.7B | $2.7B | $2.9B |
| Shareholders' equity | $81M | $122M | $180M | $200M | $230M | $248M | $232M | $264M | $296M | $308M |
| Net debt | -$36M | -$19M | -$33M | -$46M | -$92M | -$26M | -$41M | -$66M | -$32M | -$28M |
Cash flow
Fiscal years, from FS Bancorp's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4M | $15M | $21M | $9M | -$32M | $109M | $185M | $78M | $51M | $72M |
| Capital spending | $4M | $1M | $4M | $2M | $1M | $2M | $2M | $2M | $2M | $20M |
| Free cash flow | -$7,000 | $14M | $18M | $7M | -$34M | $107M | $183M | $76M | $49M | $52M |
| Stock-based compensation | $783,000 | $634,000 | $767,000 | $869,000 | — | $1M | $2M | $2M | $2M | $2M |
| Dividends paid | $1M | $1M | $2M | $3M | $4M | $5M | $7M | $8M | $8M | $10M |
| Share buybacks (net) | -$5M | -$275,000 | -$251,000 | -$5M | -$10M | -$14M | -$16M | -$223,000 | -$3M | -$15M |
| Free cash flow margin | -0.0% | 396.5% | 545.7% | 102.4% | -1420.0% | 2460.9% | 2150.7% | 1647.8% | 34.0% | 34.0% |
| Dividends per share | $0.18 | $0.20 | $0.25 | $0.32 | $0.41 | $0.55 | $0.90 | $1.00 | $1.05 | $1.34 |
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Open FSBW in InvestinglyQuestions
What was FS Bancorp's revenue in 2025?
$153M in fiscal 2025, from its 10-K filing.
How much free cash flow does FS Bancorp generate?
$52M in fiscal 2025 (operating cash flow minus capital spending).
From FS Bancorp's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.