FS Bancorp (FXLG): fair value, margin of safety and Wheel Score

Is FXLG undervalued?

FS Bancorp (FXLG) closed at 53.00 on 5 Nov 2026. The GLS average fair value - the simple average of the 9 valuation models that produced a positive number - is 104.41, which puts the price 49% below it. 8 of the 9 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.

There is a wide gap between DDM (22.51) and GLS Growth (232.53). 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.

Ranked against every other company we cover, neither cheapness nor growth clearly wins for FXLG, so the nightly engine files it under Blend (value score 68, growth score 58, out of 100).

Nine valuation models for FXLG

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.

Quality and financial health

FS Bancorp scores 5 of 9 on the Piotroski F-score: a middling result that falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. 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 9.0/10 puts FXLG among the more durable businesses we track: over up to ten years its returns on capital have stayed high, its margins steady and its balance sheet sound.

Returns on capital are high - ROIC 14.2%, ROE 15.8%, ROA 1.6% - with debt at 0.11 times equity and negative free cash flow.

The dividend yield is 2.89% at a payout ratio of 0%; 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.

Institutional ownership scores 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.

Wheel Score 36: No options

No options are listed on FS Bancorp in our nightly snapshot, so it fails the first Wheel Trade Filter (options that actually trade) (it reads 36, under 70) and is left out of every options scan; the fair value and health figures above are still useful for a plain stock position.

Volume runs at 0k shares a day on a market cap of $217M, with a beta of 0.01 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.

Upcoming events

No upcoming earnings date is recorded for FXLG in the nightly calendar.

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 FS Bancorp 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.

⚖ Compare FXLG with 7 of them   All Financial Services stocks →