FS Bancorp (FS Bancorp) Intrinsic Value: Projected FCF

: $140.23 (As of Today)

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Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.

As of today (2024-04-18), FS Bancorp's Intrinsic Value: Projected FCF is $140.23. The stock price of FS Bancorp is $30.656. Therefore, FS Bancorp's Price-to-Intrinsic-Value-Projected-FCF of today is 0.2.

The historical rank and industry rank for FS Bancorp's Intrinsic Value: Projected FCF or its related term are showing as below:

FSBW' s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 0.22 Med: 1.34 Max: 2.21
Current: 0.22

During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of FS Bancorp was 2.21. The lowest was 0.22. And the median was 1.34.

FSBW's Price-to-Projected-FCF is ranked better than
80.43% of 1221 companies
in the Banks industry
Industry Median: 0.43 vs FSBW: 0.22

FS Bancorp Intrinsic Value: Projected FCF Historical Data

The historical data trend for FS Bancorp's Intrinsic Value: Projected FCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

FS Bancorp Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Intrinsic Value: Projected FCF

23.87

20.19

60.10

122.70

140.23

FS Bancorp Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Intrinsic Value: Projected FCF																122.70	120.45	123.03	135.00	140.23

Competitive Comparison

For the Banks - Regional subindustry, FS Bancorp's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

FS Bancorp Price-to-Projected-FCF Distribution

For the Banks industry and Financial Services sector, FS Bancorp's Price-to-Projected-FCF distribution charts can be found below:

* The bar in red indicates where FS Bancorp's Price-to-Projected-FCF falls into.

FS Bancorp Intrinsic Value: Projected FCF Calculation

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.

The details of how we calculate the intrinsic value of stocks are described in detail here.

This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + 0.8 * Total Stockholders Equity (most recent) ) / Shares Outstanding (Diluted Average)

In the case of negative Total Stockholders Equity, the following formula is used (see Explanation section below for the reason):

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + Total Stockholders Equity (most recent) / 0.8 ) / Shares Outstanding (Diluted Average)

Add all the Free Cash Flow together and divide 6 will get FS Bancorp's Free Cash Flow(6 year avg) = $59.31.

FS Bancorp's Intrinsic Value: Projected FCF for today is calculated as

Intrinsic Value: Projected FCF	=	(Growth Multiple	*	Free Cash Flow (6 year avg)	+	Total Stockholders Equity (Dec23)	*	0.8)	/	Shares Outstanding (Diluted Average)
	=	(14.862653310476	*	59.30736	+	264.488	*	0.8)	/	7.795
	=	140.23

FS Bancorp (NAS:FSBW) Intrinsic Value: Projected FCF Explanation

The growth multiple is capped between 8.35 and 17.74.

Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.

FS Bancorp's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as

Price-to-Intrinsic-Value-Projected-FCF	=	Share Price	/	Intrinsic Value: Projected FCF
	=	30.656	/	140.22516105703
	=	0.22

FS Bancorp Intrinsic Value: Projected FCF Related Terms

Thank you for viewing the detailed overview of FS Bancorp's Intrinsic Value: Projected FCF provided by GuruFocus.com. Please click on the following links to see related term pages.

FS Bancorp (FS Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » FS Bancorp Inc (NAS:FSBW) » Definitions » Intrinsic Value: Projected FCF

Comparable Companies

Traded in Other Exchanges

N/A

Address

6920 220th Street South West, Mountlake Terrace, WA, USA, 98043

Website

https://www.fsbwa.com

FS Bancorp Inc is the holding company of 1st Security Bank, a diversified lender with a focus on the origination of commercial real estate, one-to-four-family, and home equity loans, consumer loans, including a variety of indirect home improvement (fixture secured loans), and marine loans, and commercial business loans. It has two operating segments; The commercial and consumer banking segment provides diversified financial products and services to its commercial and consumer customers through Bank branches, automated teller machines, online banking platforms, mobile banking apps, and telephone banking, and The home lending segment originates one-to-four-family residential mortgage loans for sale in the secondary markets as well as loans held for investment.

Executives

Robert B Fuller	officer: Chief Credit Officer	111 NORTH WALL STREET, SPOKANE WA 99201
Stephanie Nicklaus	officer: Chief Credit Officer	6920 220TH STREET SW, MOUNTLAKE TERRACE WA 98043
Pamela Marie Andrews	director	6920 220TH STREET SW, MOUNTLAKE TERRACE WA 98043
Fs Bancorp, Inc.	officer: Chief Credit Officer	6920 220TH STREET SW, MOUNTLAKE TERRACE WA 98043
Ben Crowl	officer: Chief Lending Officer	6920 220TH STREET SW, MOUNTLAKE TERRACE WA 98043
Shana Allen	officer: EVP, Chief Information Officer	6920 220TH STREET SW, MOUNTLAKE TERRACE WA 98043
Joseph P. Zavaglia	director	C/O FS BANCORP, INC., 6920 220TH STREET SW, SUITE 300, MOUNTLAKE TERRACE WA 98043
Mark Tueffers	director, other: Director of the Bank	6920 220TH STREET, SUITE 300, MOUNT LAKE TERRACE WA 98043
Margaret R. Piesik	director	C/O FS BANCORP, INC., 6920 220TH STREET SW, SUITE 300, MOUNTLAKE TERRACE WA 98043
Dennis V O'leary	officer: Chief Lending Officer	6920 220TH STREET, SW, MOUNT LAKE TERRACE WA 98043
Donn C Costa	officer: Executive VP Home Lending	6920 220TH STREET SW, MOUNTLAKE TERRACE WA 98043
Joseph C. Adams	director, officer: Chief Executive Officer	C/O FS BANCORP, INC., 6920 220TH STREET SW, SUITE 300, MOUNTLAKE TERRACE WA 98043
Lisa Cleary	officer: Chief Operating Officer	6920 220TH STREET SW, MOUNTLAKE TERRACE WA 98043
Marina Cofer-wildsmith	director	C/O FS BANCORP, INC., 6920 220TH STREET SW, SUITE 300, MOUNTLAKE TERRACE WA 98043
Erin Burr	officer: CRO, CRA Officer, EVP	6920 220TH STREET SW, MOUNTLAKE TERRACE WA 98043