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← CockpitCompetitor Analysis › FSBW FS Bancorp, Inc.Open in the cockpit ↗

FS Bancorp, Inc.FSBWCompetitor analysis, valuation and peers

United States · USD·Financials›Savings Banks
Momentum strong 62
Mkt cap
$343M
US dollars, full cap
Free float
85%
of shares outstanding
$/day
$1.38M
20-day average traded
P/B
1.01×
price to book
ROE
9.1%
delivered
Implied ROE
8.4%
what the price asks
Next earnings
82 days
27 Jan 2027
Close · USD$43.55
1D-0.6%
1W-1.1%
1M-1.7%
3M+2.2%
6M+6.5%
YTD+5.8%
1Y+14.7%
ATR %2.3%
Beta0.16
52w lowhigh5.0% off high

What FS Bancorp does

Employees: 580

FS Bancorp at a glance

Size FS Bancorp (FSBW) is a United States Financials company (Savings Banks) with a market value of $343M, the 3002nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $43.55 on 6 Nov 2026.

Performance Over six months the shares gained 6.5%, against +7.4% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 14 in its peer set.

Growth Revenue grew 5.9% over the last twelve months (peer median +3.9%); the operating margin is 23.5% (peer median 44.6%).

Valuation It trades at 1.01× book value against a peer median of 1.18× (5th cheapest of 14).

Price implies The share price implies a return on equity of about 8.4%; FS Bancorp delivers 9.1%, so the price asks less than the business earns today.

Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).

Relative performance

10011011 May 202611 Aug 20266 Nov 2026Peer median 109FSBW 109
Six months, rebased to 100: FS Bancorp against the median of its 14 peers (local-currency closes).

FS Bancorp financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue$227M$219M$206M$188M$141M
Revenue growth—+6%+10%+33%—
Net income$28.7M$32.8M$34.5M$35.5M$29.1M
Free cash flown/a$51.9M$49.2M$76.0M$183M
Capital expendituren/a$20.4M$1.64M$1.67M$1.55M
Total debt$427M$185M$363M$150M$242M

Quarterly statements and history in the cockpit →

FS Bancorp competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

0%+20%+40%-5%0%+5%TSBKAVBCHELGPDLBKRNYMORGSOAGGCBCTCBXHIFSSMBCTRSTCFFNFSBW6-month return →1-month return →
Up and to the right = strong over both horizons. FS Bancorp is the large dot.

Fundamentals: return on equity against price-to-book

5%10%15%10×1.50×20×TSBKAVBCHELGPDLBKRNYMORGSOAGGCBCTCBXHIFSTRSTCFFNFSBWReturn on equity →Price / book →
A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. FS Bancorp is the large dot.

Capital: ROE delivered against the ROE the price implies

5%10%15%5%10%15%TSBKAVBCHELGPDLBKRNYMORGSOAGGCBCTCBXHIFSSMBCTRSTCFFNFSBWROE delivered →ROE the price implies →
Above the diagonal = the price asks for a higher return on equity than the business earns today. FS Bancorp is the large dot.

FS Bancorp competitors and peer comparison

How FS Bancorp compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

FS Bancorp against its 14 peers (data as of 6 Nov 2026)
MeasureFSBWPeer medianRank in peer set
1-month return-1.7%+2.0%3rd lowest of 15
6-month return+6.5%+7.4%7th lowest of 14
Return on equity9.1%11.6%6th lowest of 14
Price / book1.01×1.18×5th cheapest of 14
Trailing P/E11.5×12.1×6th cheapest of 14
ROE the price implies8.4%7.9%7th most demanding of 14
ROE delivered9.1%11.6%6th lowest of 14

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthROEPrice / bookImplied ROEDelivered ROE
FS Bancorp FSBWUnited States$343M+6%+6%9%1.01×8.4%9.1%
Timberland Bancorp TSBKUnited States$373M+17%+4%12%1.35×7.7%11.6%
Avidia Bancorp AVBCUnited States$448M+11%+5%7%1.18×7.0%7.3%
SpareBank 1 Helgeland HELG.OLNorway$507M+4%-4%7%0.92×5.6%6.7%
Ponce Financial PDLBUnited States$525M+22%+15%8%1.49×9.7%8.2%
Kearny Financial KRNYUnited States$585M+10%+1%5%0.77×6.8%4.9%
Sparebanken More MORG.OLNorway$604M-2%-15%12%0.65×4.9%11.6%
SpareBank 1 Ostfold Akershus SOAG.OLNorway$609M-4%+2%12%1.14×6.2%12.1%
Greene County Bancorp GCBCUnited States$615M+51%+8%17%2.15×12.5%16.7%
Third Coast Bancshares TCBXUnited States$646M+1%+18%13%0.96×7.9%12.7%
Hingham Institution for Savings HIFSUnited States$647M+5%+3%13%1.26×10.6%12.6%
Southern Missouri Bancorp SMBCUnited States$775M+2%+3%13%1.29×10.5%12.9%
TrustCo Bank Corp NY TRSTUnited States$947M+17%+6%10%1.50×10.7%10.0%
Capitol Federal Financial CFFNUnited States$1.06B+7%+6%8%1.04×8.4%8.4%
American Savings Bank N.A ASBHUnited States$1.30Bn/an/an/an/an/an/a

Questions

Which companies are FS Bancorp's closest peers?
The cockpit's peer set: Timberland Bancorp (TSBK), Avidia Bancorp (AVBC), SpareBank 1 Helgeland (HELG.OL), Ponce Financial (PDLB), Kearny Financial (KRNY), Sparebanken More (MORG.OL), SpareBank 1 Ostfold Akershus (SOAG.OL), Greene County Bancorp (GCBC).
Is FS Bancorp expensive compared with its peers?
On price / book it trades at 1.01× against a peer median of 1.18×, 5th cheapest of 14 in its peer set. The share price implies a return on equity of about 8.4%; FS Bancorp delivers 9.1%, so the price asks less than the business earns today.
How has FS Bancorp stock performed?
Over six months to 6 Nov 2026 the shares returned +6.5% against +7.4% for the median peer; over one year +14.7%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.