Company Valuation: First Business Financial Services, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 244.7 308.2 333.4 384 452 609.5 -
Change - 25.91% 8.2% 15.16% 17.72% 34.84% -
Enterprise Value (EV) 244.7 308.2 333.4 384 452 609.5 609.5
Change - 25.91% 8.2% 15.16% 17.72% 34.84% 0%
P/E 7x 7.69x 9.26x 8.9x 9.14x 11x 10.5x
PBR 1.06x 1.23x 1.2x 1.21x 1.26x 1.5x 1.35x
PEG - 0.6x -1.05x 0.4x 0.6x 1x 2.15x
Capitalization / Revenue 2.17x 2.43x 2.32x 2.5x 2.68x 3.29x 3.07x
EV / Revenue 0x 0x 0x 0x 0x 3.29x 3.07x
EV / EBITDA - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 8x 7.37x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Dividend per Share 2 0.72 0.79 0.91 1 1.16 1.36 1.422
Rate of return 2.47% 2.16% 2.27% 2.16% 2.14% 1.87% 1.95%
EPS 2 4.17 4.75 4.33 5.2 5.94 6.604 6.926
Distribution rate 17.3% 16.6% 21% 19.2% 19.5% 20.6% 20.5%
Net sales 1 112.8 127 143.9 153.5 168.4 185.3 198.2
EBITDA - - - - - - -
EBIT 1 41.23 47.89 56.15 60.45 69.41 76.17 82.67
Net income 1 35.76 40.18 36.15 43.37 49.44 54.87 57.68
Net Debt - - - - - - -
Reference price 2 29.17 36.55 40.10 46.29 54.30 72.83 72.83
Nbr of stocks (in thousands) 8,390 8,431 8,315 8,295 8,324 8,368 -
Announcement Date 1/27/22 1/26/23 1/25/24 1/30/25 1/29/26 - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.03x - - 1.87% 609M
6.64x - - 4.79% 357B
17.62x - - 0.96% 108B
15.34x - - 4.38% 82.41B
8.02x - - 6.27% 66.12B
5.16x - - 5.83% 57.43B
17.89x - - 2.96% 49.76B
13.71x - - 5.09% 46.77B
9.31x - - 4.62% 41.74B
11.52x - - 3.49% 38.68B
Average 11.62x 4.03% 84.83B
Weighted average by Cap. 10.30x 4.29%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  4. Valuation First Business Financial Services, Inc.