Stock fact sheet · data as of
First Business Financial Services, Inc. (FBIZ): fair value, margin of safety and Wheel Score
Financial Services · Banks - Regional · United States · Defensive
Is FBIZ undervalued?
FBIZ has a margin of safety of 58%: the stock closed at 70.08 on 16 Oct 2026 against a GLS average fair value of 165.49. 7 of the 9 valuation models that produced a number sit above the price. Our screens treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
There is a wide gap between DDM (19.28) and DCF (417.91). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files FBIZ under Defensive: a low beta, a dividend and positive earnings.
Nine valuation models for FBIZ
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 417.91 | +496% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 85.60 | +22% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 152.45 | +118% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 49.22 | -30% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 172.67 | +146% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 220.15 | +214% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 297.00 | +324% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 19.28 | -72% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 75.14 | +7% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -438.66 | -726% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 79.67 | +14% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
First Business Financial Services, Inc. scores 6 of 9 on the Piotroski F-score: a middling result that passes the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 7.5/10 puts FBIZ among the more durable businesses we track: over ten years the metrics the score watches (revenue, EPS, book value, margins, cash flow, ROIC) have mostly moved the right way, year after year.
Returns on capital are moderate - ROIC 8.0%, ROE 13.5%, ROA 1.2% - with debt at 0.70 times equity and a free-cash-flow yield of 13.8%.
The dividend yield is 1.87% at a payout ratio of 21%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Operating Segments 100% (quarter Q3 FY2025).
Institutional ownership scores 9/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 8.0% |
|---|---|---|---|
| GLS Moat | 7.5 / 10 | ROE | 13.5% |
| Debt / equity | 0.70 | ROA | 1.2% |
| Free-cash-flow yield | 13.8% | Payout ratio | 21% |
| Institutions | 9 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 73: Good
With a Wheel Score of 73 - the Good band - First Business Financial Services, Inc. clears the Sunday Scan's "70 or higher" rule. The parts: Value 25/25, Health 13/20, Moat 11/15, Premium 17/20, Stability 7/20; Stability (7/20) scores lowest.
Implied volatility is 32% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (17 of 20 points). Chain open interest is thin - 25 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 71k shares a day on a market cap of $586M, with a beta of 0.67 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 7 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 58% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 11 / 15 | moat 7.5/10 | |
| Premium | 17 / 20 | implied volatility 32% | |
| Stability | 7 / 20 | 71k shares/day, $586M cap, beta 0.67 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
First Business Financial Services, Inc. reports earnings on 29 Oct 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to First Business Financial Services, Inc. by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| GCBC Greene County Bancorp, Inc. | 34.25 | 40.40 | +15% | 39No options | $583M |
| BWBBP Bridgewater Bancshares, Inc. | 19.38 | 25.09 | +23% | 39No options | $575M |
| KRNY Kearny Financial Corp. | 9.01 | 18.53 | +51% | 77Good | $569M |
| DBIN Dacotah Banks, Inc. | 54.42 | 68.80 | +21% | 39No options | $604M |
| BWB Bridgewater Bancshares, Inc. | 20.37 | 25.80 | +21% | 65Good | $568M |
| SFST Southern First Bancshares, Inc. | 59.22 | 74.22 | +20% | 69Good | $561M |
| CIVB Civista Bancshares, Inc. | 26.85 | 37.06 | +28% | 71Good | $558M |
| UNTY Unity Bancorp, Inc. | 54.53 | 73.48 | +26% | 69Good | $548M |
| AMBZ American Business Bank | 70.96 | 112.73 | +37% | 39No options | $630M |
| NRIM Northrim BanCorp, Inc. | 24.43 | 82.21 | +70% | 76Good | $543M |
| CWBC Community West Bancshares | 25.77 | 46.09 | +44% | 70Good | $543M |
| WCCB West Coast Community Bancorp | 60.43 | 114.69 | +47% | 39No options | $635M |
⚖ Compare FBIZ with 7 of them All Financial Services stocks →
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the same eight-rule screen, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about FBIZ
Is FBIZ undervalued right now?
By the GLS models, yes: at 70.08 the stock is 58% below the average fair value of 165.49 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of FBIZ and what does it mean?
FBIZ scores 73 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for FBIZ?
165.49 per share as of 16 Oct 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does First Business Financial Services, Inc. report earnings next?
The next earnings report is due on 29 Oct 2026 (after the close), 13 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does FBIZ have listed options, and how liquid are they?
Yes. The nightly snapshot found 120 listed contracts with 25 open interest across all expiries and implied volatility of 32% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.