First Business Financial Services, Inc.

FBIZNASDAQFinancial Services● Active

$58.42

+$0.29(+0.50%)

Market Cap$488517738

P/E Ratio—

52W High$60.54

52W Low$45.9

Avg Volume40K

Open$58.67

Beta0.68

Free Cash Flow Financials Revenue

First Business Financial Services, Inc. (FBIZ) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

FBIZ · free cash flow · updated Jun 8, 2026

Core FCF metrics

FBIZ · FCF · TTM · margin & CAGR

Free cash flow was $61.1M for FY2025 (fiscal year ending 2025-12-31), up 6.7% year-over-year The FCF margin was 21.9%. Five-year CAGR stands at +18.3%.

FY2025 Free Cash Flow$61.1M▲ +6.7% YoY

Trailing 12M (TTM)$52.8Mtrailing 4 quarters sum

FCF Margin21.9%$61.1M ÷ revenue

3-Year CAGR+19.9%FY2022 → FY2025

5-Year CAGR+18.3%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

FBIZ · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$61.7M(1M)$61.1M▲ +6.7%21.9%

FY2024$57.5M(0M)$57.3M▲ +15.9%21.8%

FY2023$52.3M(3M)$49.4M▲ +39.5%21.8%

FY2022$38.6M(3M)$35.4M▼ 0.5%23.5%

FY2021$36.0M(0M)$35.6M▲ +35.0%28.7%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

FBIZ · P/FCF · FCF yield · FCF per share

First Business Financial Services, Inc. (FBIZ) trades at a FCF yield of 10.81% and a price-to-free-cash-flow ratio of 9.0x. FCF per share stands at $6.47, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

10.81%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$6.47

TTM FCF ÷ Shares Outstanding

Price / FCF

x9.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x12.5

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

FBIZ · cash flow statement · operating / investing / financing

For FY2025, First Business Financial Services, Inc. generated $61.7M in operating cash flow and spent 1M in capital expenditures, yielding $61.1M in free cash flow.

Operating Activities

+$61.7M

Cash from core business operations

2025-12-31

Investing Activities

−$373.4M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$193.5M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($61.7M) − |CapEx| (1M) = FCF ($61.1M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

FBIZ vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

First Business Financial Services, Inc.YOU

FBIZ

$61.1M+6.7%21.9%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

First Business Financial Services, Inc. (FBIZ) reported free cash flow of $61.1M for FY2025 (fiscal year ending 2025-12-31), up 6.7% year-over-year. The FCF margin was 21.9%.

Based on available data, First Business Financial Services, Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $61.1M in FY2025. The 5-year CAGR stands at +18.3%.

First Business Financial Services, Inc.'s FCF yield is 10.81% and price-to-FCF ratio is 9.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

FBIZ free cash flow · 8 questions

First Business Financial Services, Inc. free cash flow was $61.1M for FY2025, up 6.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $52.8M.

FBIZ free cash flowFBIZ FCFFBIZ FCF 2025FBIZ free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · First Business Financial Services, Inc. · First Business Financial Services, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026