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Definitive Analysis

Financial Statements

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Ticker

Industry

Sector

Page: Earnings Power Value

First Business Financial Services, Inc.

Ticker: FBIZ | Industry: Banks - Regional | Sector: Financial Services
$57.27 +1.62 (2.91%)
As of: 2026-01-15

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Valuation Snapshot

Intrinsic Range$71.18 — $94.39
Selected Value (Mid)$82.79
Live Price$57.50
Upside / Downside43.98%

EPV Per Share Breakdown

MetricLowMidHigh
EPV Per Share$71.18$82.79$94.39

Normalized EBIT Margin

ScenarioMargin
Low18.25%
Mid21.47%
High24.70%

Normalized Tax Rate

MetricValue
Tax Rate15.00%

Adjusted Earnings (NOPAT)

ScenarioValue
Low42,999,588
Mid50,587,750
High58,175,913

Capital Structure

ComponentValue
Net Debt-44,349,000
Shares Outstanding8,153,181
WACC8.02%

Reverse EPV (Market Implied)

If "Implied" > "Actual", market expects profitability to improve.

MetricActual (LTM)Market Implied
EBIT Margin21.47%14.20%
NOPAT (Earnings)50,587,75033,454,245
Enterprise Value630,625,220417,039,513

Valuation Details

MetricLowMidHigh
Enterprise Value536,031,437630,625,220725,219,003
(-) Net Debt-44,349,000-44,349,000-44,349,000
(=) Equity Value580,380,437674,974,220769,568,003
(/) Shares Outstanding8,153,1818,153,1818,153,181
(=) Fair Value$71.18$82.79$94.39
Live Price$57.50$57.50$57.50
Upside %23.80%43.98%64.15%

High-Upside EPV Screener

US Market Global Market
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