First Business Financial Services, Inc. (FBIZ) Income Statement
FBIZ 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFBIZ revenue and net income
Where FBIZ's revenue goes
2025Each bar shows an amount and its share of revenue. FBIZ kept 18.0% of revenue as net income.
FBIZ profit margins
FBIZ growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +6.4% | +22.8% | +18.7% | +12.1% |
| Gross profit | +10.6% | +6.7% | +13.5% | +8.3% |
| Operating income | +18.2% | +5.0% | +27.0% | +9.3% |
| Net income | +13.7% | +7.2% | +24.3% | +11.8% |
| EPS (diluted) | +14.0% | +7.9% | +23.5% | +11.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FBIZ quarterly EPS vs estimates
First Business Financial Services beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 29, 2026 (estimate $1.69).
FBIZ income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $279.2M | $262.4M | $89.2M | $150.8M | $124.1M | $118.7M | $121.4M | $107.4M | $89.7M | $92.4M |
| Cost of revenue | $119.3M | $117.8M | −$8.2M | $19.1M | $5.5M | $33.9M | $34.5M | $31.3M | $23.6M | $24.7M |
| Gross profit | $160.0M | $144.6M | $89.2M | $131.7M | $118.6M | $84.8M | $86.9M | $76.0M | $66.1M | $67.7M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $76.7M | $72.3M | $35.0M | $61.1M | $54.9M | $48.7M | $50.9M | $46.4M | $43.8M | $42.9M |
| Total operating expenses | $99.5M | $93.5M | $35.0M | $79.5M | $71.5M | $66.5M | $62.4M | $58.4M | $51.8M | $50.7M |
| Operating income | $60.5M | $51.1M | $22.6M | $52.2M | $47.0M | $18.3M | $24.5M | $17.7M | $14.2M | $17.1M |
| Interest income | $247.3M | $233.1M | $178.5M | $121.4M | $96.0M | $94.2M | $102.0M | $91.3M | $75.8M | $78.1M |
| Interest expense | $110.6M | $108.9M | $34.8M | $22.9M | $11.3M | $17.1M | $32.2M | $23.9M | $15.2M | $14.8M |
| Income before taxes | $60.5M | $51.1M | $22.6M | $52.2M | $47.0M | $18.3M | $24.5M | $17.7M | $14.2M | $17.1M |
| Income taxes | $10.1M | $6.9M | $5.3M | $11.4M | $11.3M | $1.3M | $1.2M | $1.4M | $2.3M | $2.2M |
| Net income | $50.3M | $44.2M | $17.3M | $40.9M | $35.8M | $17.0M | $23.3M | $16.3M | $11.9M | $14.9M |
| EBITDA | $64.2M | $54.9M | $22.6M | $56.3M | $50.6M | $21.8M | $27.5M | $19.1M | $15.8M | $18.6M |
| EPS (diluted) | $5.95 | $5.22 | $4.35 | $4.74 | $4.15 | $2.07 | $2.49 | $1.79 | $1.37 | $1.74 |
| Gross margin | 57.3% | 55.1% | 100.0% | 87.3% | 95.5% | 71.4% | 71.6% | 70.8% | 73.7% | 73.3% |
| Operating margin | 21.6% | 19.5% | 25.4% | 34.6% | 37.9% | 15.4% | 20.2% | 16.4% | 15.9% | 18.5% |
| Net margin | 18.0% | 16.9% | 19.4% | 27.1% | 28.8% | 14.3% | 19.2% | 15.2% | 13.3% | 16.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $73.6M | $70.7M | $70.2M | $73.4M | $68.5M | $67.1M | $68.1M | $66.4M | $65.3M | $62.5M | $61.9M | $59.4M |
| Cost of revenue | $28.9M | $29.3M | $29.8M | $30.3M | $30.2M | $28.9M | $29.7M | $30.4M | $29.1M | $28.6M | $27.8M | $24.2M |
| Gross profit | $44.6M | $41.3M | $40.4M | $43.1M | $38.3M | $38.2M | $38.5M | $36.0M | $36.3M | $33.9M | $34.1M | $35.2M |
| Sales, general & admin | $20.8M | $20.7M | $19.1M | $19.1M | $18.4M | $19.2M | $17.2M | $17.4M | $17.7M | $17.6M | $15.8M | $17.0M |
| Total operating expenses | $27.8M | $27.0M | $24.1M | $25.7M | $25.0M | $24.7M | $23.2M | $23.1M | $23.9M | $23.3M | $21.6M | $23.2M |
| Operating income | $16.8M | $14.4M | $16.2M | $17.4M | $13.4M | $13.5M | $15.3M | $12.9M | $12.4M | $10.6M | $12.5M | $12.0M |
| Interest income | $65.0M | $61.9M | $62.8M | $63.7M | $61.3M | $59.5M | $60.1M | $59.3M | $57.9M | $55.8M | $54.8M | $50.9M |
| Interest expense | $26.9M | $26.4M | $28.0M | $28.9M | $27.5M | $26.3M | $27.0M | $28.3M | $27.4M | $26.3M | $25.2M | $22.3M |
| Income before taxes | $16.8M | $14.4M | $16.2M | $17.4M | $13.4M | $13.5M | $15.3M | $12.9M | $12.4M | $10.6M | $12.5M | $12.0M |
| Income taxes | $1.2M | $2.2M | $2.9M | $3.0M | $1.9M | $2.3M | $885,000 | $2.4M | $1.9M | $1.8M | $2.7M | $2.1M |
| Net income | $15.6M | $12.2M | $13.3M | $14.4M | $11.4M | $11.2M | $14.4M | $10.5M | $10.5M | $8.8M | $9.8M | $9.9M |
| EBITDA | $17.8M | $15.3M | $17.2M | $18.4M | $14.3M | $14.3M | $16.3M | $13.8M | $13.4M | $11.4M | $13.3M | $13.0M |
| EPS (diluted) | $1.70 | $1.44 | $1.58 | $1.70 | $1.35 | $1.32 | $1.71 | $1.24 | $1.23 | $1.04 | $1.15 | $1.17 |
| Gross margin | 60.7% | 58.5% | 57.5% | 58.7% | 55.9% | 56.9% | 56.5% | 54.2% | 55.5% | 54.3% | 55.1% | 59.3% |
| Operating margin | 22.8% | 20.3% | 23.1% | 23.7% | 19.5% | 20.1% | 22.5% | 19.4% | 18.9% | 16.9% | 20.2% | 20.2% |
| Net margin | 21.2% | 17.3% | 19.0% | 19.6% | 16.7% | 16.6% | 21.2% | 15.9% | 16.0% | 14.1% | 15.8% | 16.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FBIZ's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FBIZ financial results
In fiscal year 2025 (ended December 31, 2025), First Business Financial Services reported revenue of $279.2 million, up 6.4% from the year before. It had net income of $50.3 million (up 13.7%), a net profit margin of 18.0%. Diluted earnings per share came to $5.95. Over five years revenue grew at an average rate of 18.7% a year.
See the FBIZ stock overview for the latest quote and news, or the FBIZ chart for price history and technical indicators.
FBIZ income statement FAQ
What is First Business Financial Services's annual revenue?
First Business Financial Services reported total revenue of $279.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 6.4% from $262.4 million the previous year.
Is First Business Financial Services profitable?
Yes. First Business Financial Services reported net income of $50.3 million in fiscal 2025, a net profit margin of 18.0%; its operating margin was 21.6%.
What is First Business Financial Services's gross margin?
First Business Financial Services's gross margin was 57.3% in fiscal 2025: for every $100 of revenue, First Business Financial Services kept $57 after the direct cost of its products and services.
How fast is First Business Financial Services growing?
Revenue grew 18.7% a year on average over the last five fiscal years, from $118.7 million to $279.2 million.
What are First Business Financial Services's earnings per share?
First Business Financial Services earned $5.95 per diluted share in fiscal 2025, compared with $5.22 a year earlier.
When will First Business Financial Services report its next earnings?
First Business Financial Services is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 after the market closes.
When does First Business Financial Services's fiscal year end?
First Business Financial Services's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.