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First Business Financial Services, Inc.

ID: FBIZ SECTOR: Financial Services INDUSTRY: Banks - Regional
58.60
-0.69 (-1.16%)
Ref: 2026-04-10
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Valuation Snapshot

Intrinsic Range $43.48 β€” $65.22
Selected Value (Mid) $54.35
Current Price $58.60
Upside / Downside (Mid) -7.26%
Latest Year 2025
Years Averaged 5

EPV Per Share

Scenario EPV / Share Upside %
Low (βˆ’20%) $43.48 -25.80%
Mid (Base) $54.35 -7.26%
High (+20%) $65.22 11.29%

Model Assumptions

Normalized EBIT Margin (avg 5Y) 26.90%
Tax Rate (avg 5Y) 19.50%
WACC (Discount Rate) 9.00%
Current Revenue $279.25M
Normalized EBIT $75.13M
NOPAT (Base) $60.48M

Valuation Bridge

Metric Low Mid High
EBIT Margin 21.52% 26.90% 32.29%
NOPAT (M) $48.39M $60.48M $72.58M
EPV Enterprise (M) $537.62M $672.03M $806.43M
(βˆ’) Net Debt (M) $228.64M $228.64M $228.64M
(=) EPV Equity (M) $354.71M $443.38M $532.06M
(Γ·) Shares 8,158,208 8,158,208 8,158,208
(=) Fair Value / Share $43.48 $54.35 $65.22

Historical EPV Analysis

Year Revenue (M) EBIT Margin Tax Rate NOPAT (M) EPV EV (M) EPV / Share
2025 $279.25M 21.65% 16.76% $50.32M $559.10M $40.51
2024 $262.38M 19.49% 13.50% $44.25M $491.61M $39.44
2023 $226.24M 20.84% 21.45% $37.03M $411.41M $25.96
2022 $150.80M 34.64% 21.79% $40.86M $453.98M $10.90
2021 $124.10M 37.90% 23.97% $35.76M $397.28M $4.26
2020 $118.72M 15.42% 7.25% $16.98M $188.64M $-22.67
2019 $121.37M 20.19% 4.80% $23.32M $259.16M $-1.26
2018 $107.36M 16.44% 7.65% $16.30M $181.14M $-4.78
2017 $89.69M 15.87% 16.34% $11.91M $132.28M $-3.84
2016 $92.41M 18.47% 12.63% $14.91M $165.66M $20.23

High-Upside EPV Screener

US Market Global Market
1 »
Ticker Company Price EPV Upside
PLBC Plumas Bancorp $44.78 $71.38 5,941.00%
NMT Nuveen Massachusetts Quality Municipal Income Fund $11.39 $18.13 5,918.00%
COG Cabot Oil & Gas Corporation $22.25 $35.41 5,913.00%
IAF Abrdn Australia Equity Fund Inc $12.96 $20.54 5,850.00%
CFFI C&F Financial Corporation $69.53 $110.16 5,844.00%
RF-PF Regions Financial Corporation $25.41 $40.12 5,788.00%
DRQ Dril-Quip, Inc. $15.41 $24.26 5,742.00%
EDD Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. $5.58 $8.77 5,709.00%
RMNI Rimini Street, Inc. $3.90 $6.13 5,706.00%
TRIN Trinity Capital Inc. $15.47 $24.21 5,649.00%
CNX CNX Resources Corporation $36.27 $56.75 5,647.00%
LBAI Lakeland Bancorp, Inc. $13.43 $20.95 5,600.00%
PNM PNM Resources, Inc. $40.70 $63.35 5,564.00%
BCAL Southern California Bancorp $18.79 $29.21 5,546.00%
PAI Western Asset Investment Grade Income Fund Inc. $12.49 $19.41 5,538.00%
OPRT Oportun Financial Corporation $5.21 $8.08 5,502.00%
WKC World Kinect Corporation $26.15 $40.50 5,487.00%
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OXLCG Oxford Lane Capital Corp. 7.95% Notes due 2032 $25.23 $38.79 5,376.00%
PBFS Pioneer Bancorp, Inc. $13.35 $20.53 5,375.00%
TEI Templeton Emerging Markets Income Fund $6.61 $10.15 5,363.00%
RSRFX Reaves Utilities and Energy Infrastruct Fund Insti Shares $10.61 $16.30 5,362.00%
CBL CBL & Associates Properties, Inc. $37.82 $58.07 5,353.00%
IPLDP Interstate Power and Light Company $24.99 $38.30 5,325.00%
FBIZ First Business Financial Services, Inc. $54.54 $83.32 5,277.00%
PAA Plains All American Pipeline, L.P. $18.06 $27.57 5,267.00%
SBC SBC Medical Group Holdings Incorporated $4.44 $6.77 5,258.00%
PPT Putnam Premier Income Trust $3.57 $5.44 5,226.00%
FTAI-PB Fortress Transportation and Infrastructure Investors LLC $24.26 $36.89 5,208.00%
0HW4.L Charter Communications, Inc. $207.07 $313.72 5,150.00%
GOED Polished.com Inc. $1.23 $1.86 5,125.00%
KREF KKR Real Estate Finance Trust Inc. $7.86 $11.89 5,125.00%
NDP Tortoise Energy Independence Fund, Inc. $40.40 $61.08 5,118.00%
NMI Nuveen Municipal Income Fund, Inc. $10.05 $15.17 5,093.00%
FMY First Trust Mortgage Income Fund $12.04 $18.16 5,086.00%
RQI Cohen & Steers Quality Income Realty Fund, Inc. $11.77 $17.71 5,046.00%
VPV Invesco Pennsylvania Value Municipal Income Trust $10.47 $15.73 5,020.00%
SSBK Southern States Bancshares, Inc. $36.37 $54.55 4,999.00%
CGO Calamos Global Total Return Fund $11.73 $17.58 4,990.00%
LNKB LINKBANCORP, Inc. $8.22 $12.28 4,945.00%
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ACSMX Advisors Capital Small/Mid Cap $11.71 $17.48 4,929.00%
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GPP Green Plains Partners LP $12.31 $18.28 4,852.00%
FPH Five Point Holdings, LLC $5.75 $8.51 4,799.00%
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