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 1 244.7 308.2 333.4 384 452 580.9 -
Change - 25.91% 8.2% 15.16% 17.72% 28.52% -
Enterprise Value (EV) 244.7 308.2 333.4 384 452 580.9 580.9
Change - 25.91% 8.2% 15.16% 17.72% 28.52% 0%
P/E 7x 7.69x 9.26x 8.9x 9.14x 10.5x 10x
PBR 1.06x 1.23x 1.2x 1.21x 1.26x 1.43x 1.29x
PEG - 0.6x -1.05x 0.4x 0.6x 0.9x 2.05x
Capitalization / Revenue 2.17x 2.43x 2.32x 2.5x 2.68x 3.13x 2.93x
EV / Revenue 0x 0x 0x 0x 0x 3.13x 2.93x
EV / EBITDA - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 7.63x 7.03x
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% 1.96% 2.05%
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 69.42 69.42
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.($)
10.68x - - 1.93% 590M
6.65x - - 4.76% 352B
16.44x - - 1.03% 99.33B
15.29x - - 4.39% 80.06B
7.74x - - 6.49% 62.04B
5.08x - - 5.95% 56.37B
16.98x - - 3.16% 47.25B
12.83x - - 5.5% 42.8B
8.96x - - 4.8% 40.19B
10.83x - - 3.77% 36.62B
Average 11.15x 4.18% 81.75B
Weighted average by Cap. 9.88x 4.39%

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.