FS Bancorp Competitors

FSBW Stock

USD 37.04 -0.66 -1.75%

The company conducts business in the Banks sector. FS Bancorp is grouped alongside Timberland Bancorp, Plumas Bancorp, First Bancorp, Citizens Northern, and Waterstone Financial within its competitive landscape. Price-to-sales ratios across FS Bancorp's competitors show which names the market values most per dollar of revenue.

Correlation: FS Bancorp vs CoastalSouth Bancshares Snapshot

Moderate diversification

Across the chosen horizon, FS Bancorp and CoastalSouth Bancshares show a correlation of 0.32 and fall into the Moderate diversification bucket. The overlap area shows the portion of risk that can be diversified away by holding both instruments together.

Moving together with FSBW Stock

0.83	FBIZ	First Business Financial	Pair Corr
0.66	FDBC	Fidelity DD Bancorp	Pair Corr
0.85	FMNB	Farmers National Banc	Pair Corr

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Mean reversion analysis in FS Bancorp's involves identifying price extremes that diverge materially from the historical norm. High prices may deter value investors, while unusually low prices often attract buyers anticipating a recovery. Mean reversion in FS Bancorp is distinct from trend following, which rides momentum rather than betting on reversals.

Hype

Prediction

Low	Estimated	High
35.44	37.04	38.64

Details

Intrinsic

Valuation

Low	Real	High
30.84	32.44	40.74

Details

Naive

Forecast

Low	Next	High
35.21	36.82	38.42

Details

Analyst

Consensus

Low	Target	High
42.32	46.50	51.62

Details

Competitive positioning is a critical dimension of FS Bancorp analysis. Benchmarking FS Bancorp's performance and risk profile against competitors validates any investment thesis. Evaluating FS Bancorp in context means comparing FS Bancorp's against the competitive peer group.

FS Bancorp Competition Correlation Matrix

Reviewing how FS Bancorp moves relative to competing stocks can show whether peer exposure is reducing portfolio risk or simply repeating the same market bet. Used correctly, correlation analysis helps separate broad industry exposure from company-specific behavior before additional capital is allocated across the peer group.

	TSBK	PLBC	FNLC	CZNC	WSBF	CBAN	BCML	PCB	CZFS	COSO
TSBK		0.91	0.84	0.94	0.82	0.94	0.21	0.56	0.55	0.75	TSBK
PLBC	0.91		0.84	0.95	0.83	0.95	0.16	0.54	0.66	0.78	PLBC
FNLC	0.84	0.84		0.9	0.67	0.88	0.49	0.8	0.67	0.86	FNLC
CZNC	0.94	0.95	0.9		0.84	0.96	0.3	0.67	0.69	0.86	CZNC
WSBF	0.82	0.83	0.67	0.84		0.85	-0.04	0.4	0.77	0.55	WSBF
CBAN	0.94	0.95	0.88	0.96	0.85		0.15	0.55	0.63	0.8	CBAN
BCML	0.21	0.16	0.49	0.3	-0.04	0.15		0.82	0.23	0.57	BCML
PCB	0.56	0.54	0.8	0.67	0.4	0.55	0.82		0.59	0.81	PCB
CZFS	0.55	0.66	0.67	0.69	0.77	0.63	0.23	0.59		0.54	CZFS
COSO	0.75	0.78	0.86	0.86	0.55	0.8	0.57	0.81	0.54		COSO
	TSBK	PLBC	FNLC	CZNC	WSBF	CBAN	BCML	PCB	CZFS	COSO

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High positive correlations

CBAN	+ 0.96	CZNC
CZNC	+ 0.95	PLBC
CBAN	+ 0.95	PLBC
CZNC	+ 0.94	TSBK
CBAN	+ 0.94	TSBK
PLBC	+ 0.91	TSBK

High negative correlations

BCML

- 0.04

WSBF

Risk-Adjusted Indicators

Strong stock returns do not always mean FS Bancorp Company is outperforming its peers on a fundamental level. Risk-adjusted metrics allow investors to compare FS Bancorp's efficiency and downside exposure against peers in a more meaningful way. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TSBK	1.05	0.09	0.11	0.08	1.18	-1.17	2.43	-2.04	7.06
PLBC	1.06	0.18	0.13	0.07	1.15	-1.11	1.92	-1.94	15.03
FNLC	1.27	0.04	0.00	-0.06	0.00	0.00	2.64	-2.78	8.15
CZNC	1.16	0.06	0.06	0.00	1.47	-1.33	2.74	-2.56	7.63
WSBF	1.15	0.15	0.13	0.11	1.28	-1.31	2.47	-2.69	11.36
CBAN	1.04	0.15	0.13	0.07	1.21	-1.30	2.14	-1.91	9.08
BCML	1.14	-0.14	0.00	-0.61	0.00	0.00	2.10	-2.78	7.33
PCB	1.25	-0.06	0.00	-0.18	0.00	0.00	2.25	-2.38	9.24
CZFS	1.57	0.08	0.00	-0.01	0.00	0.00	3.33	-3.45	10.63
COSO	0.94	0.02	0.00	-0.05	0.00	0.00	1.67	-2.74	7.26

Peer Comparison: Net Income

Net income is one of the most important fundamental items in finance. It plays a large role in FS Bancorp financial statement analysis. It represents the amount of money remaining after all of FS Bancorp operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.

Compare FS Bancorp and related stocks such as Timberland Bancorp, Plumas Bancorp, and First Bancorp Net Income Over Time

Select Fundamental

	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
TSBK	3.3 M	4.6 M	4.8 M	5.8 M	8.3 M	10.2 M	14.2 M	16.7 M	24 M	24.3 M	27.6 M	23.6 M	27.1 M	24.3 M	29.2 M	33.5 M	35.2 M
PLBC	2.3 M	941 K	1.9 M	3.4 M	4.7 M	5.8 M	7.5 M	8.2 M	14 M	15.5 M	14.5 M	21 M	26.4 M	29.8 M	28.6 M	29.6 M	31.1 M
FNLC	2.7 M	12.4 M	12.7 M	13 M	14.7 M	16.2 M	18 M	19.6 M	23.5 M	25.5 M	27.1 M	36.3 M	39 M	29.5 M	27 M	34.4 M	36.1 M
CZNC	7.5 M	23.4 M	22.7 M	18.6 M	17.1 M	16.5 M	15.8 M	13.4 M	22 M	19.5 M	19.2 M	30.6 M	26.6 M	24.1 M	26 M	23.4 M	16.1 M
WSBF	5.3 M	-7.5 M	34.9 M	14.7 M	12.7 M	16.6 M	25.5 M	26 M	30.8 M	35.9 M	81.1 M	70.8 M	19.5 M	9.4 M	18.7 M	26.4 M	18.6 M
CBAN	2.1 M	2.5 M	2.6 M	4.6 M	7.5 M	8.4 M	8.7 M	7.8 M	11.9 M	10.2 M	11.8 M	18.7 M	19.5 M	21.7 M	23.9 M	28.3 M	29.7 M
BCML	-732 K	7.3 M	2.2 M	2.7 M	5.2 M	7.5 M	5.9 M	5.3 M	14.5 M	17.3 M	13.7 M	20.7 M	23.7 M	27.4 M	23.6 M	23.9 M	25.1 M
PCB	-968.3 K	841.7 K	8 M	21.4 M	11.8 M	12.2 M	14 M	16.4 M	24.3 M	24.1 M	16.2 M	40.1 M	35 M	30.7 M	25.8 M	37.5 M	39.3 M
CZFS	2.4 M	12.8 M	14.2 M	13.4 M	13.4 M	11.6 M	12.6 M	13 M	18 M	19.5 M	25.1 M	29.1 M	29.1 M	17.8 M	27.8 M	36.6 M	38.4 M

FS Bancorp Competitive Analysis

Sizing up FS Bancorp against Timberland Bancorp, Plumas Bancorp, and First Bancorp reveals meaningful differences in scale and efficiency. At a 278.5 M valuation, FS Bancorp brings in 217.5 M on the top line. The company converts revenue to profit at a 23.30% rate and delivers 11.05% on shareholder equity. The market prices Timberland Bancorp more richly at 10.80x earnings, while FS Bancorp trades at 3.24x. Revenue tilts toward FS Bancorp at 217.5 M compared with 108.2 M. First Bancorp keeps more of each revenue dollar with a 37.04% margin versus 23.30% at FS Bancorp.

Better Than Average

Worse Than Peers

View Performance Chart

	FSBW	TSBK	PLBC	FNLC	CZNC	WSBF	CBAN	BCML	PCB	CZFS
	1.75 37.04 FSBW	0.70 38.19 Timberland	0.13 47.85 Plumas	0.92 26.88 First	0.14 21.68 Citizens	0.22 17.80 Waterstone	1.91 19.03 Colony	0.59 28.82 BayCom	0.37 21.64 PCB	0.07 60.02 Citizens
Market Volatility (90 Days Market Risk)	Very Low	Very Low	Very Low	Very Low	Very Low	Very Low	Very Low	Very Low	Very Low	Very Low
Market Performance (90 Days Performance)	Weak	Contained	Mild	Weak	Mild	Contained	Contained	Weak	Weak	Soft
Odds of Financial Distress (Probability Of Bankruptcy)	Low	Tiny	Low	Tiny	Low	Low	Low	Low	Low	Tiny
Current Valuation (Equity Enterprise Value)	Over Valued	Over Valued	Over Valued	Fairly Valued	Over Valued	Fairly Valued	Fairly Valued	Over Valued	Over Valued	Under Valued
Buy or Sell Analysis (Average Analysts Consensus)	Buy	Strong Sell	Strong Buy	Strong Sell	Hold	Hold	Buy	Strong Buy	Hold	Strong Buy
Trade Advice (90 Days Macroaxis Advice)	Strong Hold	Strong Buy	Strong Buy	Strong Hold	Buy	Strong Buy	Strong Buy	Hold	Strong Hold	Hold
Net Asset	3.2 B	2.01 B	2.24 B	3.17 B	3.13 B	2.26 B	3.74 B	2.59 B	3.28 B	3.06 B
Profit Margin	0.23	0.36	0.32	0.37	0.2	0.17	0.22	0.25	0.34	0.33
EBITDA	54.95 M	38.73 M	39.59 M	41.94 M	28.64 M	33.45 M	35.13 M	36.08 M	52.49 M	45.09 M
Operating Margin	0.32	0.49	0.38	0.51	0.35	0.26	0.31	0.37	0.47	0.47
Current Valuation	429.34 M	70.78 M	401.23 M	460.1 M	535.29 M	688.86 M	414.22 M	292.86 M	220.87 M	569.74 M
Price To Book	0.9	1.12	1.28	1.07	1.14	0.94	1.07	0.93	0.96	0.87
Retained Earnings	280.2 M	236.61 M	195.9 M	240.46 M	171.21 M	292.96 M	160.58 M	178.9 M	186.49 M	213.62 M
Five Year Return	1.42	2.58	1.69	4.32	4.62	3.21	1.98	N/A	1.94	3.04
Beta	0.68	0.35	0.58	0.54	0.5	0.83	0.62	0.31	0.53	0.43
Number Of Employees	575	271	234	278	460	593	526	327	262	373
Shares Outstanding	7.51 M	7.88 M	6.96 M	11.27 M	17.91 M	18.46 M	21.17 M	10.89 M	14.23 M	4.81 M
Cash Flow From Operations	72.31 M	30.16 M	25.02 B	15.71 B	32 M	19.02 M	9.59 M	30.64 M	26.59 M	36.53 M
Annual Yield	0.0313	0.0285	0.0276	0.0546	0.0517	0.0386	0.0244	0.0363	0.0379	0.0328
Total Debt	141.08 M	23.08 M	147.9 M	187.82 M	193.05 M	412.26 M	268.43 M	22.39 M	71.99 M	309.45 M
Return On Equity	0.11	0.12	0.13	0.13	0.0759	0.0695	0.0863	0.0722	0.0994	0.11
Z Score	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return On Asset	0.0107	0.0156	0.0153	0.0109	0.0082	0.0106	0.0083	0.0091	0.0118	0.012
Number Of Shares Shorted	63.16 K	31.29 K	56.62 K	58.91 K	280.26 K	123.39 K	74.48 K	97.05 K	132.01 K	36.54 K
Book Value Per Share	41.56	34.06	37.52	25.23	19.17	19.59	17.69	31.31	22.69	70.32
Total Asset	3.2 B	2.01 B	2.24 B	3.17 B	3.13 B	2.26 B	3.74 B	2.59 B	3.28 B	3.06 B
Debt To Equity	7.99	8.21	13.1	8.34	0.14	3.5	14.2	6.92	10.39	9.85
Short Ratio	6.38	1.54	1.98	3.15	5.16	2.13	0.78	3.83	5.17	3.43
Target Price	46.5	12.5	57.33	N/A	25.0	12.5	22.0	33.0	25.25	69.0
Last Dividend Paid	1.12	1.05	1.2	1.47	1.12	0.6	0.46	0.9	0.8	1.98
Shares Owned By Institutions	67.38	67.23	45.77	52.26	31.2	49.91	56.5	65.44	41.42	29.3
Market Capitalization	278.48 M	301.1 M	332.99 M	302.95 M	388.29 M	285.9 M	404.85 M	314.07 M	307.84 M	288.53 M
Price To Earning	3.24	10.8	11.39	8.81	15.69	4.18	8.64	14.63	13.66	9.76
Price To Earnings To Growth	N/A	2.94	1.49	N/A	1.21	N/A	2.11	N/A	N/A	N/A
Price To Sales	1.95	3.6	3.64	3.26	3.33	2.29	3.17	3.26	2.76	2.62
Net Income	33.35 M	29.16 M	29.62 B	34.39 M	23.43 M	26.4 M	28.25 M	8.51 M	37.45 M	36.57 M
Earnings Per Share	4.29	3.85	4.54	3.07	1.46	1.33	1.59	2.18	2.58	7.62
Shares Owned By Insiders	14.92	7.04	7.0	4.92	4.08	19.57	3.78	7.49	25.55	6.32
Revenue	217.51 M	110.49 M	108.25 M	177.61 M	154.19 M	201.61 M	186.11 M	141.83 M	209.37 M	173.24 M
Cash And Equivalents	164.76 M	446.04 M	334.12 M	99.19 M	64.04 M	103.14 M	85.04 M	227.17 M	154.04 M	46.88 M
Cash Per Share	21.39	54.07	57.12	8.98	4.13	4.83	4.82	17.51	10.35	11.8
Gross Profit	143.14 M	83.73 M	91.45 M	92.87 M	116.63 M	137.06 M	127.68 M	96.47 M	111.69 M	109.97 M
Day Typical Price	37.31	38.32	48.12	27.33	21.6	17.9	19.32	28.79	21.62	59.61
Accumulation Distribution	0.0411	0.0135	0.0406	0.0489	0.0252	0.0209	0.0437	0.0362	0.0152	0.0537
Market Facilitation Index	1.57	0.52	2.0	1.38	0.55	0.38	0.87	1.06	0.33	3.28
Daily Balance Of Power	-0.42	-0.52	0.03	-0.18	-0.05	-0.11	-0.43	0.1604	-0.24	0.0122
Period Momentum Indicator	-0.66	-0.27	0.06	-0.25	-0.03	-0.04	-0.37	0.17	-0.08	0.04
Rate Of Daily Change	0.98	0.99	1.0	0.99	1.0	1.0	0.98	1.01	1.0	1.0
Day Median Price	37.44	38.39	48.25	27.55	21.56	17.95	19.47	28.77	21.61	59.41
Price Action Indicator	-0.73	-0.34	-0.37	-0.79	0.11	-0.17	-0.62	0.14	-0.01	0.63
Relative Strength Index	35.59	51.55	44.21	45.1	46.74	53.34	45.91	44.96	45.16	49.16
Coefficient Of Variation	-733.82	2856.43	2167.72	-3,427	16430.8	1924.35	2117.38	-975.67	-1,405	-119,195
Mean Deviation	1.14	1.05	1.06	1.27	1.16	1.15	1.04	1.14	1.25	1.57
Jensen Alpha	-0.17	0.0925	0.1836	0.0367	0.0595	0.1485	0.1472	-0.14	-0.06	0.0783
Total Risk Alpha	-0.03	0.2229	0.3013	0.1425	0.195	0.2902	0.2462	0.0197	0.0754	0.2403
Sortino Ratio	N/A	0.1054	0.1328	N/A	0.0646	0.1274	0.1257	N/A	N/A	N/A
Downside Variance	N/A	1.77	1.71	N/A	2.3	1.95	1.61	N/A	N/A	N/A
Standard Deviation	1.58	1.48	1.85	1.63	1.59	1.72	1.51	1.48	1.66	2.06
Kurtosis	1.62	0.9258	21.43	0.1316	0.8611	7.48	2.99	0.5067	1.16	0.4128
Potential Upside	1.93	2.43	1.92	2.64	2.74	2.47	2.14	2.1	2.25	3.33
Treynor Ratio	-0.40	0.0809	0.0681	-0.06	-0.0005	0.1128	0.0701	-0.61	-0.18	-0.01
Maximum Drawdown	9.27	7.06	15.03	8.15	7.63	11.36	9.08	7.33	9.24	10.63
Variance	2.51	2.18	3.4	2.67	2.54	2.96	2.28	2.18	2.76	4.23
Market Risk Adjusted Performance	-0.39	0.0909	0.0781	-0.05	0.0095	0.1228	0.0801	-0.60	-0.17	-0.0028
Risk Adjusted Performance	-0.10	0.0327	0.0427	-0.02	0.0098	0.047	0.0426	-0.08	-0.05	0.0054
Skewness	0.2473	0.3733	3.54	0.2082	0.1492	1.6	0.5453	0.1332	0.0115	0.0488
Semi Deviation	N/A	1.18	1.15	N/A	1.47	1.28	1.21	N/A	N/A	N/A
Information Ratio	-0.08	0.0948	0.094	0.0249	0.0615	0.1033	0.1058	-0.04	-0.02	0.0421
Value At Risk	-2.42	-2.04	-1.94	-2.78	-2.56	-2.69	-1.91	-2.78	-2.38	-3.45
Expected Short fall	N/A	-1.17	-1.11	N/A	-1.33	-1.31	-1.30	N/A	N/A	N/A
Downside Deviation	N/A	1.33	1.31	N/A	1.52	1.4	1.27	N/A	N/A	N/A
Semi Variance	N/A	1.4	1.33	N/A	2.16	1.64	1.45	N/A	N/A	N/A

FS Bancorp Competition Peer Performance Charts

How to Analyze FS Bancorp Against Peers

FS Bancorp's peer analysis compares FS Bancorp with related companies to put valuation, quality, and risk metrics in context. This helps determine whether recent performance is company-specific or broadly sector-driven. A practical workflow includes:

Set a relevant peer group: Include direct competitors and close alternatives with comparable business exposure.
Benchmark core financials: Compare profitability, growth, capital structure, and cash flow quality.
Check valuation dispersion: Review whether FS Bancorp trades at a premium or discount versus peers and why.
Evaluate risk profile: Compare volatility, drawdowns, and correlation to avoid false diversification assumptions.
Document the thesis: Record where FS Bancorp leads or lags and what catalysts could close or widen the gap.

Use this as an educational baseline, then validate conclusions with current filings, market conditions, and portfolio objectives.

Peer Comparison Metrics & Methodology

Dividend growth at FS Bancorp has outpaced most competitors, suggesting management sees durable cash flow ahead. Two companies in the same sector can have very different risk profiles once you look past revenue size. Competition analysis is most useful when price, margins, leverage, and growth are read together. For peer comparison, FS Bancorp has a market cap of 278.48 M, P/E of 3.24, profit margin of 23.3%.

Data shown for FS Bancorp is aggregated from periodic company reporting and market reference feeds and normalized across reporting formats. Source publication cadence can introduce delays.

This content is curated and reviewed by:

Vlad Skutelnik - Macroaxis Contributor

Last reviewed on March 21st, 2026

Macroaxis provides analytical tools and reference data for investors of all levels to evaluate holdings and assess risk across market volatility, economic shifts, and company-specific events. View terms and conditions

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Price To Sales Ratio	Dividend Yield
Ptb Ratio	Days Sales Outstanding
Book Value Per Share	Free Cash Flow Yield
Invested Capital	Operating Cash Flow Per Share
Average Payables	Stock Based Compensation To Revenue
Capex To Depreciation	Pb Ratio
Ev To Sales	Free Cash Flow Per Share
Roic	Inventory Turnover
Net Income Per Share	Days Of Inventory On Hand
Payables Turnover	Sales General And Administrative To Revenue
Average Inventory	Research And Ddevelopement To Revenue
Capex To Revenue	Cash Per Share
Pocfratio	Interest Coverage
Payout Ratio	Capex To Operating Cash Flow
Pfcf Ratio	Days Payables Outstanding
Net Current Asset Value	Income Quality
Roe	Tangible Asset Value
Ev To Operating Cash Flow	Pe Ratio
Return On Tangible Assets	Ev To Free Cash Flow
Earnings Yield	Intangibles To Total Assets
Net Debt To E B I T D A	Current Ratio
Tangible Book Value Per Share	Receivables Turnover
Graham Number	Shareholders Equity Per Share
Debt To Equity	Capex Per Share
Graham Net Net	Average Receivables
Revenue Per Share	Interest Debt Per Share
Debt To Assets	Enterprise Value Over E B I T D A
Short Term Coverage Ratios	Price Earnings Ratio
Operating Cycle	Price Book Value Ratio
Price Earnings To Growth Ratio	Days Of Payables Outstanding
Dividend Payout Ratio	Price To Operating Cash Flows Ratio
Price To Free Cash Flows Ratio	Pretax Profit Margin
Ebt Per Ebit	Operating Profit Margin
Effective Tax Rate	Company Equity Multiplier
Long Term Debt To Capitalization	Total Debt To Capitalization
Return On Capital Employed	Debt Equity Ratio
Ebit Per Revenue	Quick Ratio
Dividend Paid And Capex Coverage Ratio	Net Income Per E B T
Cash Ratio	Cash Conversion Cycle
Operating Cash Flow Sales Ratio	Days Of Inventory Outstanding
Days Of Sales Outstanding	Free Cash Flow Operating Cash Flow Ratio
Cash Flow Coverage Ratios	Price To Book Ratio
Fixed Asset Turnover	Capital Expenditure Coverage Ratio
Price Cash Flow Ratio	Enterprise Value Multiple
Debt Ratio	Cash Flow To Debt Ratio
Price Sales Ratio	Return On Assets
Asset Turnover	Net Profit Margin
Gross Profit Margin	Price Fair Value
Return On Equity

FS Bancorp Competitors

Correlation: FS Bancorp vs CoastalSouth Bancshares Snapshot

Moving together with FSBW Stock

Specify up to 10 symbols:

FS Bancorp Competition Correlation Matrix

High positive correlations

High negative correlations

Risk-Adjusted Indicators

Peer Comparison: Net Income

FS Bancorp Competitive Analysis

FS Bancorp Competition Peer Performance Charts

How to Analyze FS Bancorp Against Peers

Peer Comparison Metrics & Methodology

This content is curated and reviewed by:

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