First Business Financial Services (FBIZ) - Net Assets
Based on the latest financial reports, First Business Financial Services (FBIZ) has net assets worth $380.08 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($4.32 Billion) and total liabilities ($3.94 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore FBIZ total asset value for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $380.08 Million |
| % of Total Assets | 8.8% |
| Annual Growth Rate | 12.63% |
| 5-Year Change | 59.88% |
| 10-Year Change | 129.87% |
| Growth Volatility | 12.98 |
First Business Financial Services - Net Assets Trend (2001–2025)
This chart illustrates how First Business Financial Services's net assets have evolved over time, based on quarterly financial data. Check First Business Financial Services tangible equity quality to evaluate the tangible quality of the company's equity base.
Annual Net Assets for First Business Financial Services (2001–2025)
The table below shows the annual net assets of First Business Financial Services from 2001 to 2025. For live valuation and market cap data, see First Business Financial Services stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $371.58 Million | +13.09% |
| 2024-12-31 | $328.59 Million | +13.47% |
| 2023-12-31 | $289.59 Million | +11.11% |
| 2022-12-31 | $260.64 Million | +12.14% |
| 2021-12-31 | $232.42 Million | +12.74% |
| 2020-12-31 | $206.16 Million | +6.18% |
| 2019-12-31 | $194.16 Million | +7.44% |
| 2018-12-31 | $180.71 Million | +6.75% |
| 2017-12-31 | $169.28 Million | +4.72% |
| 2016-12-31 | $161.65 Million | +7.17% |
| 2015-12-31 | $150.83 Million | +9.50% |
| 2014-12-31 | $137.75 Million | +26.06% |
| 2013-12-31 | $109.28 Million | +9.78% |
| 2012-12-31 | $99.54 Million | +55.01% |
| 2011-12-31 | $64.21 Million | +16.05% |
| 2010-12-31 | $55.34 Million | +1.73% |
| 2009-12-31 | $54.39 Million | +2.62% |
| 2008-12-31 | $53.01 Million | +9.17% |
| 2007-12-31 | $48.55 Million | +6.11% |
| 2006-12-31 | $45.76 Million | +9.35% |
| 2005-12-31 | $41.84 Million | +9.60% |
| 2004-12-31 | $38.18 Million | +46.89% |
| 2003-12-31 | $25.99 Million | +24.81% |
| 2002-12-31 | $20.82 Million | -2.61% |
| 2001-12-31 | $21.38 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to First Business Financial Services's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 30553600000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $305.54 Million | 82.23% |
| Common Stock | $96.00K | 0.03% |
| Other Comprehensive Income | $-9.74 Million | -2.62% |
| Other Components | $75.69 Million | 20.37% |
| Total Equity | $371.58 Million | 100.00% |
First Business Financial Services Competitors by Market Cap
The table below lists competitors of First Business Financial Services ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sjóvá-Almennar tryggingar hf
IC:SJOVA
|
$527.38 Million |
|
Prime Medicine, Inc. Common Stock
NASDAQ:PRME
|
$527.40 Million |
|
Delpha Construction Co Ltd
TW:2530
|
$527.43 Million |
|
Rompetrol Rafi
RO:RRC
|
$527.51 Million |
|
VP Bank AG
SW:VPBN
|
$527.23 Million |
|
Jiangsu Allfavor Intelligent Circuits Technology CO.Ltd
SHE:300964
|
$527.08 Million |
|
Miquel y Costas & Miquel S.A.
MC:MCM
|
$526.97 Million |
|
Jiangsu Jinji Industrial Co Ltd
SHE:300798
|
$526.79 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First Business Financial Services's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 328,589,000 to 371,585,000, a change of 42,996,000 (13.1%).
- Net income of 50,319,000 contributed positively to equity growth.
- Dividend payments of 10,561,000 reduced retained earnings.
- Share repurchases of 1,390,000 reduced equity.
- Other comprehensive income increased equity by 1,685,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $50.32 Million | +13.54% |
| Dividends Paid | $10.56 Million | -2.84% |
| Share Repurchases | $1.39 Million | -0.37% |
| Other Comprehensive Income | $1.69 Million | +0.45% |
| Other Changes | $2.94 Million | +0.79% |
| Total Change | $- | 13.09% |
Book Value vs Market Value Analysis
This analysis compares First Business Financial Services's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.54x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 13.50x to 1.54x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2001-12-31 | $5.20 | $70.21 | x |
| 2002-12-31 | $5.01 | $70.21 | x |
| 2003-12-31 | $4.65 | $70.21 | x |
| 2004-12-31 | $8.23 | $70.21 | x |
| 2005-12-31 | $8.49 | $70.21 | x |
| 2006-12-31 | $9.16 | $70.21 | x |
| 2007-12-31 | $9.84 | $70.21 | x |
| 2008-12-31 | $10.90 | $70.21 | x |
| 2009-12-31 | $11.07 | $70.21 | x |
| 2010-12-31 | $11.14 | $70.21 | x |
| 2011-12-31 | $12.80 | $70.21 | x |
| 2012-12-31 | $12.71 | $70.21 | x |
| 2013-12-31 | $13.87 | $70.21 | x |
| 2014-12-31 | $17.44 | $70.21 | x |
| 2015-12-31 | $17.64 | $70.21 | x |
| 2016-12-31 | $18.85 | $70.21 | x |
| 2017-12-31 | $19.65 | $70.21 | x |
| 2018-12-31 | $20.92 | $70.21 | x |
| 2019-12-31 | $22.80 | $70.21 | x |
| 2020-12-31 | $24.59 | $70.21 | x |
| 2021-12-31 | $27.95 | $70.21 | x |
| 2022-12-31 | $31.68 | $70.21 | x |
| 2023-12-31 | $35.62 | $70.21 | x |
| 2024-12-31 | $40.33 | $70.21 | x |
| 2025-12-31 | $45.55 | $70.21 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First Business Financial Services utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 13.54%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 18.02%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 10.99x
- Recent ROE (13.54%) is above the historical average (9.78%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | 11.35% | 21.12% | 0.03x | 19.19x | $287.90K |
| 2002 | -0.90% | -5.18% | 0.01x | 23.05x | $-2.27 Million |
| 2003 | 21.73% | 40.11% | 0.03x | 19.95x | $3.05 Million |
| 2004 | 11.16% | 13.56% | 0.06x | 14.75x | $441.30K |
| 2005 | 11.37% | 11.67% | 0.06x | 15.99x | $572.70K |
| 2006 | 8.19% | 7.30% | 0.07x | 17.23x | $-828.60K |
| 2007 | 6.71% | 5.10% | 0.07x | 18.92x | $-1.60 Million |
| 2008 | 5.89% | 4.82% | 0.06x | 19.07x | $-2.18 Million |
| 2009 | 1.91% | 1.66% | 0.06x | 20.54x | $-4.40 Million |
| 2010 | 1.70% | 1.48% | 0.06x | 20.01x | $-4.59 Million |
| 2011 | 13.12% | 13.31% | 0.05x | 18.33x | $2.00 Million |
| 2012 | 8.97% | 14.06% | 0.05x | 12.32x | $-1.03 Million |
| 2013 | 12.58% | 22.08% | 0.05x | 11.61x | $2.82 Million |
| 2014 | 10.26% | 20.85% | 0.04x | 11.83x | $364.20K |
| 2015 | 10.95% | 18.46% | 0.05x | 11.83x | $1.43 Million |
| 2016 | 9.22% | 16.13% | 0.05x | 11.02x | $-1.26 Million |
| 2017 | 7.03% | 13.27% | 0.05x | 10.60x | $-5.02 Million |
| 2018 | 9.02% | 15.19% | 0.05x | 10.88x | $-1.77 Million |
| 2019 | 12.01% | 19.22% | 0.06x | 10.80x | $3.91 Million |
| 2020 | 8.24% | 14.30% | 0.05x | 12.46x | $-3.64 Million |
| 2021 | 15.38% | 28.81% | 0.05x | 11.41x | $12.51 Million |
| 2022 | 15.68% | 27.09% | 0.05x | 11.42x | $14.79 Million |
| 2023 | 5.98% | 19.41% | 0.03x | 12.11x | $-11.64 Million |
| 2024 | 13.47% | 16.86% | 0.07x | 11.73x | $11.39 Million |
| 2025 | 13.54% | 18.02% | 0.07x | 10.99x | $13.16 Million |
Industry Comparison
This section compares First Business Financial Services's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $2,529,438,500
- Average return on equity (ROE) among peers: 7.29%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First Business Financial Services (FBIZ) | $380.08 Million | 11.35% | 10.37x | $527.32 Million |
| Ameris Bancorp (ABCB) | $279.02 Million | 5.17% | 9.82x | $4.95 Billion |
| Ameris Bancorp (ABCB) | $19.89 Billion | 1.32% | 0.03x | $5.85 Billion |
| ACNB Corporation (ACNB) | $106.80 Million | 8.72% | 8.79x | $483.21 Million |
| Affinity Bancshares Inc (AFBI) | $43.92 Million | 3.67% | 4.15x | $137.20 Million |
| Alerus Financial Corp (ALRS) | $141.28 Million | 11.51% | 8.36x | $775.72 Million |
| Amalgamated Bank (AMAL) | $707.65 Million | 15.04% | 10.67x | $1.27 Billion |
| Amerant Bancorp Inc. (AMTB) | $704.74 Million | 3.35% | 10.97x | $979.96 Million |
| Arrow Financial Corporation (AROW) | $213.97 Million | 11.53% | 10.43x | $658.52 Million |
| Associated Banc-Corp (ASB) | $3.09 Billion | 6.48% | 8.43x | $5.45 Billion |
| AmeriServ Financial Inc (ASRV) | $116.55 Million | 6.07% | 10.46x | $62.43 Million |
About First Business Financial Services
First Business Financial Services, Inc. operates as the bank holding company for First Business Bank that provides commercial banking products and services for small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals in Wisconsin, Kansas, and Missouri. The company offers commercial real estate lending, commercial and industrial lending, asset-b… Read more