First US Bancshares, Inc. (FUSB) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+10.2%

$18.13

vs $16.45 price

Levered DCF

$20.51

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

0.47

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	13.56×	8.99×	7.26×	7.68×	15.1×	20.98×	16.35×	19.88×
P/B	0.77×	0.75×	0.68×	0.62×	0.75×	0.66×	0.88×	0.62×
P/S	1.29×	1.19×	1.1×	1.19×	1.55×	1.26×	1.53×	1.16×
EV / EBITDA	1.93×	3.8×	2.46×	4.89×	3.44×	-4.9×	3.5×	0.08×
Gross margin	58.7%	63.2%	71.9%	82.9%	88.6%	83.2%	80.9%	83.7%
Operating margin	12.6%	17.4%	20.1%	20.3%	13.2%	7.8%	11.9%	7.9%
Net margin	9.5%	13.2%	15.1%	15.5%	10.3%	6.0%	9.3%	5.8%
Current ratio	0.09×	0.08×	0.2×	0.18×	0.23×	0.23×	0.22×	0.26×
Debt / equity	0.1×	0.21×	0.23×	0.36×	0.23×	0.12×	0.12×	0.01×
Interest coverage	0.36×	0.49×	0.73×	2.12×	1.94×	0.77×	0.87×	0.78×
Dividend yield	2.0%	1.7%	1.9%	1.6%	1.1%	1.3%	0.8%	1.0%
Payout ratio	26.8%	15.5%	13.8%	12.1%	16.7%	27.3%	12.3%	19.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.7%	8.3%	9.4%	8.1%	4.9%	3.1%	5.4%	3.1%
Return on invested capital	4.8%	6.4%	7.0%	5.5%	3.7%	2.5%	4.4%	2.9%
Return on assets	0.5%	0.7%	0.8%	0.7%	0.5%	0.3%	0.6%	0.3%
Free cash flow yield	11.2%	7.7%	18.8%	21.4%	13.4%	9.1%	10.9%	13.2%
Earnings yield	7.4%	11.1%	13.8%	13.0%	6.6%	4.8%	6.1%	5.0%
Enterprise value	$18.7M	$47.3M	$32.1M	$53.3M	$26.7M	-$27.6M	$27.7M	$416.8K
Net debt / EBITDA	-6.47×	-2.11×	-2.26×	0.05×	-5.23×	-14.99×	-5.94×	-9.78×
Cash conversion cycle (days)	-13	-7	-21	-5	5	9	-2	2