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Company Analysis

FS Bancorp, Inc. FSBW

A comprehensive view of key metrics, scores, and financial health for FS Bancorp, Inc.

Overview of FS Bancorp, Inc.

FSBW NCM
Financial Services Banks - Regional Micro Cap
FS Bancorp, Inc. (FSBW), is a Micro Cap company, in the Banks - Regional industry, last closed at $38.29, about 7.9% undervalued vs fair value, +5.0% 1Y return, ranked 479/1004 in sector.
$38.29
-2.42%
As of March 13, 2026
Previous close • Vol 90d: 28.0%
52-Week Range
Market Cap
$287.88M
Enterprise Value
$415.46M
Overall Score
Scores locked

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Top Beats

Quick Facts

Website https://www.fsbwa.com
HQ Mountlake Terrace, WA
Employees 580
Fiscal year Dec 31

Next Events

No upcoming events available.

Fair Value Snapshot

Bear Base Bull
$23
$41
$77
Current: $38.29 +8% vs base

Engine Room Money Flow™

Micro Cap

Financial Services - Where revenue goes and how value is created

Flow Steps
Interest Income
$184.8M
10.6%%
Interest Expense
$66.8M
Net Interest Income
$123.1M
-0.2%%
Total Revenue
$217.5M
53.2%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Financial Services

Quality & Reliability Indicators

Return on Equity
11.6%
Good

Net Income / Equity - key bank profitability metric

Locked Metric
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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

$11.2M
32.4% of Net Income

Where It Leaks

Cash Flow Health critical
Significant cash flow inefficiencies identified. Multiple high-impact leaks require attention.
1
Active Leaks
0/1
Improving
0
High Impact
1
Critical
Moat Analysis Bank Specialized

Competitive Advantage Assessment

Evaluating FS Bancorp, Inc.'s durable competitive advantages across 6 defense dimensions

Overall Moat Strength
51
/100
Moderate
Scores based on quantitative metrics and qualitative factors

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Deposit Franchise

Moderate
63
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Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Banks (Regional & Diversified) vs Industry Peers 91% Coverage
Trade-Off Triangle Visualization A ternary plot showing FSBW's balance between Growth (29.3%), Profitability (30.5%), and Safety (40.3%). Growth 29% Safety 40% Profitability 30%

Click axes to expand details. Marker shows current allocation.

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Growth

55th percentile vs peers
56
Key Signals
Revenue CAGR 3Y 22.0% 64p Asset Growth YoY 5.5% 60p Rev Growth YoY 53.2% 45p
Strengths
  • Roe in top 20% of peers (12.5%, 81th percentile)
  • Roe in top 20% of peers (12.5%, 81th percentile)
  • Superior capital returns - 2 return metrics above peer median
Risks

No significant risks identified for this axis.

Profitability

58th percentile vs peers
58
Key Signals
Strengths
Risks
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Safety

76th percentile vs peers
77
Key Signals
Strengths
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Two Futures

Scenario-based fair value ranges for FS Bancorp, Inc..

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Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

  • Recently listed companies (IPOs, SPACs)
  • Shell companies or holding companies
  • Companies that haven't filed recent financials
  • Foreign companies with limited data coverage
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Bear
-
- - -
- upside
-
Base
$41.32
- - -
+7.9% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
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