FS Bancorp, Inc. (FSBW) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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FSBW Revenue Growth
Revenue Breakdown (FY 2023)
FSBW's revenue distribution by segment and geography for fiscal year 2023
By Product/Segment
FSBW Revenue Analysis (2014–2025)
As of May 8, 2026, FS Bancorp, Inc. (FSBW) generated trailing twelve-month (TTM) revenue of $217.5 million, reflecting slight decline in growth of -3.4% year-over-year. The most recent quarter (Q4 2025) recorded $57.2 million in revenue, up 2.4% sequentially.
Looking at the longer-term picture, FSBW's 5-year compound annual growth rate (CAGR) stands at +8.9%, indicating steady revenue expansion. The company achieved its highest annual revenue of $217.5 million in 2025, representing a new all-time high.
Revenue diversification analysis shows FSBW's business is primarily driven by Debit Card (69%), and Bank Servicing (31%). With over half of revenue concentrated in Debit Card, the company maintains significant focus in this area while developing other growth vectors.
When compared to Financial Services sector peers including WAFD, HFWA, and COLB. Compare FSBW vs WAFD →
FSBW Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FSBWCurrent | $218M | -3.4% | +8.9% | 20.6% | |
 WAFD | $1.4B | - | - | 20.5% | |
 HFWA | $336M | - | - | 23.2% | |
 COLB | $3.2B | - | - | 23.4% | |
 NWBI | $877M | - | - | 18.8% | |
 PFIS | $281M | - | - | 25.7% |
FSBW Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $217.5M | - | $144.7M | 66.5% | $44.7M | 20.6% |
| 2024 | $203.7M | - | $136.5M | 67.0% | $41.6M | 20.4% |
| 2023 | $185.3M | - | $136.6M | 73.7% | $45.3M | 24.4% |
| 2022 | $134.1M | - | $113.5M | 84.6% | $37.0M | 27.6% |
| 2021 | $131.1M | - | $120.9M | 92.2% | $47.4M | 36.2% |
| 2020 | $142.1M | - | $114.4M | 80.5% | $49.9M | 35.1% |
| 2019 | $109.6M | - | $87.4M | 79.7% | $28.1M | 25.7% |
| 2018 | $79.0M | - | $67.3M | 85.1% | $28.6M | 36.1% |
| 2017 | $66.5M | - | $60.9M | 91.5% | $20.6M | 30.9% |
| 2016 | $59.2M | - | $52.7M | 88.9% | $16.1M | 27.2% |
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Start ComparisonFSBW — Frequently Asked Questions
Quick answers to the most common questions about buying FSBW stock.
Is FSBW's revenue growth accelerating or slowing?
FSBW revenue growth slowed to -3.4%, below the 5-year CAGR of +8.9%. TTM revenue is $218M. The deceleration marks a shift from historical growth rates.
What is FSBW's long-term revenue growth rate?
FS Bancorp, Inc.'s 5-year revenue CAGR of +8.9% reflects the variable expansion pattern. Current YoY growth of -3.4% is near this long-term average.
How is FSBW's revenue distributed by segment?
FSBW reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.