# FS Bancorp Inc. (FSBW) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Financial Services / Banks. Price $44.05, market value $346 million.

## Valuation
- **P/E (trailing): 11.8×** (5-yr avg 8.2×, 3-yr avg 8.7×). FS Bancorp Inc. trades at 11.8× trailing earnings, well above its own five-year average of 8.2×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 9.9×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 75.1×**. Each dollar of revenue is priced at 75.1×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 1.0×**. The shares trade at 1.0× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: 28.3%** (5-yr avg 36.4%). Free cash flow equals 28.3% of the market value, below its five-year average of 36.4%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 8.5%**. The inverse of the P/E: 8.5% of the price is earned each year.

## Profitability
- **Return on equity: 10.8%**. 10.8% on shareholders' equity is solid.
- **Return on assets: 1.1%**. Each dollar of assets produces 1.1% of profit; low single digits are normal for banks and insurers.

## Growth
- **EPS growth (1 yr): -1.6%** (3-yr 5.1%/yr, 5-yr -0.9%/yr). Earnings per share fell 1.6%.
- **Free-cash-flow growth (3 yr): -34.3%/yr**. Free cash flow has compounded at -34.3% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.
- **Cash and short-term investments: $28 million**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 2.63%** ($1.15 per share, trailing). FS Bancorp Inc. yields 2.63%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 31%** (10% of free cash flow). 31% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 13**. 13 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 26.1%/yr** (1-yr 26.4%). The dividend has compounded at 26.1% a year over five years, doubling roughly every 3 years at that pace.

## Analyst view
- **Analyst consensus: hold** (2 analysts). 2 analysts cover FS Bancorp Inc.; the consensus is hold, with an average price target of $45.50 (+3% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 16.6%** (YTD 8.8%, 3-mo 4.5%). The shares are up 16.6% over twelve months including dividends.
- **From 52-week high: -3.9%** (20.2% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 51**. An RSI of 51 is neutral.
- **Beta (1 yr): 0.20** (volatility 25%). Beta of 0.20 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=FSBW · Page: https://foliofundamentals.com/stocks/fsbw

Not investment advice.