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FSBW stock logo

FSBW

FS Bancorp, Inc.

$42.73
0.38
 (0.9%)
Exchange:  NASDAQ
Market Cap:  316.823M
Shares Outstanding:  6.48M
Delayed data
Calculate FSBW Intrinsic Value
5-year outlook →
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Financial Services
Industry:  Banks – Regional
   
CEO:  Matthew D. Mullet
Full Time Employees:  593
Address: 
6920 220th Street SW
Mountlake Terrace
WA
98043
US
Website:  https://www.fsbwa.com
FS Bancorp, Inc. functions as the holding company for 1st Security Bank of Washington, delivering a comprehensive suite of banking and financial services. These offerings cater to families, local and regional businesses, and specialized industry sectors. The company operates through two main divisions: Commercial and Consumer Banking, and Home Lending. Its deposit portfolio includes checking, money market, and savings accounts, alongside certificates of deposit. For lending, FS Bancorp provides diverse options such as first and second mortgages for one-to-four-family residences, home equity loans, non-mortgage commercial business loans, commercial real estate and construction/development financing, and a variety of consumer loans including personal lines of credit, credit cards, auto, direct home improvement, deposit-secured, and recreational vehicle loans. As of December 31, 2021, the company maintained 21 full-service bank branches and 10 home loan production offices, strategically situated in suburban communities across the greater Puget Sound area (including Snohomish, King, Pierce, Jefferson, Kitsap, Clallam, Grays Harbor, Thurston, and Lewis counties), with an additional loan production office serving the Tri-Cities market. Established in 1936, FS Bancorp, Inc. is headquartered in Mountlake Terrace, Washington.

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Revenue Segmentation

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EPS

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Earnings Call

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue185,256203,708217,510
Gross Profit136,593136,465144,748
EBITDA57,92152,14754,953
Operating Income45,27241,58144,743
Net Income36,05335,02433,346

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets2,972,6693,029,1773,196,847
Total Liabilities2,708,1812,733,4102,889,153
Total Stockholders Equity264,488295,767307,694
Total Debt150,121354,956141,083
Cash and Cash Equivalents89,85833,36213,504

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(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow77,66950,82372,313
Capital Expenditure-1,671-1,635-20,374
Free Cash Flow75,99849,18851,939
Net Income36,05335,02433,346
Net Change in Cash24,254-34,056-3,416

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2027Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Low)170,922.365Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (High)173,777.634Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Avg)172,350Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Low)57,401.558Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (High)58,360.454Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Avg)57,881.006Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Low)34,422.931Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (High)36,717.824Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Avg)35,570.378Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Low)55,571.232Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (High)56,499.553Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Avg)56,035.393Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Avg)4.670Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (High)4.800Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Low)4.500Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated Revenue)2Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated EPS)3Research AccessResearch AccessResearch AccessResearch Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
206.409M  ?P/S
 (TTM)
: 
1.76
?Net Income
 (TTM)
: 
34.452M  ?P/E
 (TTM)
: 
9.57
?Enterprise Value
 (TTM)
: 
683.008M  ?EV/FCF
 (TTM)
: 
6.96
?Dividend Yield
 (TTM)
: 
2.71%  ?Payout Ratio
 (TTM)
: 
30.68%
?ROE
 (TTM)
: 
10.75%  ?ROIC
 (TTM)
: 
0.68%
?Net Debt
 (TTM)
: 
343.676M  ?Debt/Equity
 (TTM)
: 
1.19
?P/B
 (TTM)
: 
1  ?Current Ratio
 (TTM)
: 
408.48

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Research Access for high/low estimates and the interactive table.

Forward P/E 1YResearch AccessResearch AccessResearch AccessResearch Access
9.85Research AccessResearch AccessResearch AccessResearch Access

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SWOT Analysis

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At what price to buy it? -
Intrinsic Value Calculator

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.

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Common questions about FSBW valuation

Is FS Bancorp, Inc. (FSBW) overvalued or undervalued right now?

MARKETSnap estimates intrinsic value for FS Bancorp, Inc. (FSBW) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is FSBW a buy, hold, or sell for long-term investors?

MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether FSBW trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is FSBW’s P/E ratio?

You can see FSBW’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for FSBW?

MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is FSBW a good long-term investment?

Whether FSBW fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

FSBW

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

0.9
MARKETSnap

Trading Metrics:

Open: 42.53   Previous Close: 42.35
Day Low: 42.06   Day High: 42.97
Year Low: 36.66   Year High: 45.85
Price Avg 50: 43.11   Price Avg 200: 41.38
Volume: 7457   Average Volume: 18254

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Relevant news

FS Bancorp (FSBW) Reports Q2 Earnings: What Key Metrics Have to Say
21-07-2026 20:31
FS Bancorp (FSBW) Reports Q2 Earnings: What Key Metrics Have to Say

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