FSBW (FS Bancorp) Moat Score: 4/10 (As of Sep. 06, 2026)

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FSBW FS Bancorp Inc FSBW
62 GF Score
Price $43.83
GF Value $41.60
Valuation Fairly Valued
! 6 Warning Signs
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What is FS Bancorp Moat Score?

FS Bancorp FSBW +1.28% 62 Moat Score is 4 as of Sep. 06, 2026. GuruFocus rates FSBW with a GF Score™ of 62/100 and a GF Value™ of $41.60 (Fairly Valued). The stock has 6 warning signs investors should review. Among 1,605 Banks companies, FS Bancorp ranks better than 86.23% on this metric.

FS Bancorp has the Moat Score of 4, which implies that the company might have Narrow Moat - Discernible but modest moat.

FS Bancorp has Narrow Moat: FS Bancorp Inc has a discernible but modest moat, primarily due to its regional banking operations and customer relationships. It benefits from some economies of scale but lacks strong brand strength, intellectual property, or regulatory barriers to ensure a wider moat.

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes FS Bancorp might have Narrow Moat - Discernible but modest moat.

FS Bancorp  (NAS:FSBW) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

FS Bancorp Moat Score Related Terms

FSBW vs BFCC, CSHX, COSO: Moat Score Comparison

For the Banks - Regional subindustry, FS Bancorp's Moat Score, along with its competitors' market caps and Moat Score 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 Moat Score vs Banks Industry

For the Banks industry and Financial Services sector, FS Bancorp's Moat Score distribution charts can be found below:

* The bar in red indicates where FS Bancorp's Moat Score falls into.


FSBW
62GF Score
FS Bancorp Inc FSBW
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Frequently Asked Questions Learn more about Moat Score →
What does a Moat Score of 4 mean?
FS Bancorp (FSBW) has a Moat Score of 4 as of Sep. 06, 2026. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. According to the industry distribution chart, FS Bancorp ranks #221 out of 1605 companies in the Banks industry, placing it in the top 13.8%.
Is FS Bancorp's Moat Score too high?
FS Bancorp's current Moat Score is 4. Based on the distribution chart, FS Bancorp ranks #221 out of 1605 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, FS Bancorp has a GF Score™ of 62/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does FS Bancorp's Moat Score compare to BFCC and CSHX?
According to the Banks industry distribution chart, FS Bancorp ranks #221 out of 1605 companies for Moat Score. This places FS Bancorp in the top 14% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Moat Score for a Banks company?
A good Moat Score depends on the Banks industry context. However, Moat Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Moat Score mean?
A high Moat Score can signal that a stock is expensive relative to its fundamentals. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. FS Bancorp's current Moat Score is 4. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FS Bancorp stock overvalued right now?
Based on GuruFocus' analysis, FS Bancorp (FSBW) is currently considered Fairly Valued. The stock's GF Value™ is $41.60, compared to a current price of $43.83 — trading 5.3% above its estimated fair value. The current Moat Score is 4. FS Bancorp's overall GF Score™ is 62/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Moat Score calculated?
Moat Score is calculated from a company's financial statements. For FS Bancorp (FSBW), the current Moat Score is 4 as of Sep. 06, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is FS Bancorp (FSBW) Overvalued in 2026?

Based on GuruFocus' analysis, FS Bancorp stock appears to be overvalued. The current stock price of $43.83 is trading 5.3% above its estimated GF Value™ of $41.60. GuruFocus considers FS Bancorp to be Fairly Valued.

Key valuation signals for FSBW:

  • Moat Score: 4
  • GF Value™: $41.60 vs. price of $43.83 (5.3% above fair value)
  • GF Score™: 62/100 with 6 warning signs

No single metric tells the full story. See the FSBW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

FS Bancorp Business Description

Address 6920 220th Street South West, Mountlake Terrace, WA, USA, 98043
FS Bancorp Inc is the holding company of First 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. The company 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.
62GF Score

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Moat Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$43.83
Price
$41.60
GF Value