A Business at a Glance
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Business First Bancshares, Inc.
BFST
$921M
Mkt Cap
$31.16
+2.26%
Business First Bancshares, Inc. (BFST) has a current P/E ratio of 11.2, compared to its historical median P/E of 10.6. The stock is currently considered Fair based on its historical valuation range.
Business First Bancshares, Inc. (BFST) has a 5-year average return on invested capital (ROIC) of 10.1%. This indicates solid capital allocation.
Business First Bancshares, Inc. (BFST) has a market capitalization of $920M. It is classified as a small-cap stock.
Yes, Business First Bancshares, Inc. (BFST) pays a dividend with a trailing twelve-month yield of 1.92%. The company also returns capital through share buybacks, with a buyback yield of 0.41%.
Based on historical P/E analysis, Business First Bancshares, Inc. (BFST) appears fair. The current P/E of 11.2 is 5% above its historical median of 10.6. The estimated fair value CAGR (P/E method) is 10.8%.
Business First Bancshares, Inc. (BFST) operates in the State Commercial Banks industry, within the Financials sector.
Business First Bancshares, Inc. is a financial holding company headquartered in Baton Rouge, Louisiana, and the parent company of b1BANK, formerly known as Business First Bank, a Louisiana state banking association and community-based financial institution that offers a full array of banking products and services. We currently operate throughout the state of Louisiana, in the Dallas/Fort Worth metroplex and Houston, from a network of banking centers and loan production offices. Since our founding in 2006, our mission has not changed – we seek to be the financial institution of choice for our markets’ small-to-midsized businesses and their owners and employees. To achieve this goal, we focus on recruiting, retaining and empowering talented bankers who are intimately familiar with and well respected in the communities that they serve, and on providing market-leading products and services that add value to our customers’ businesses.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 335M | 517M | 459M | 390M | 265M | 206M |
| Net Income | 85M | 82M | 60M | 66M | 53M | 52M |
| EPS | $2.89 | $2.79 | $2.26 | $2.59 | $2.32 | $2.53 |
| Free Cash Flow | 90M | 92M | 60M | 79M | 62M | 52M |
| ROIC | 7.4% | 9.7% | 8.3% | 10.7% | 9.9% | 11.6% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 8.16 | 8.83 | 0.00 | 0.00 | 0.11 |
| Dividends/Share | $0.60 | $0.57 | $0.56 | $0.50 | $0.48 | $0.46 |
| Operating Income | 38M | 37M | 31M | 28M | 21M | 18M |
| Operating Margin | 11.3% | 7.2% | 6.7% | 7.1% | 7.7% | 9.0% |
| ROE | 8.6% | 9.7% | 8.3% | 10.7% | 10.4% | 12.4% |
| Shares Outstanding | 30M | 30M | 26M | 25M | 23M | 21M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 29M | 42M | 49M | 57M | 84M | 114M | 171M | 206M | 265M | 390M | 459M | 517M | 335M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 11M | 16M | 19M | 21M | 28M | 35M | 57M | 66M | 85M | 91M | 104M | 116M | 119M |
| EBIT | 1.1M | 1.6M | 3.2M | 3.5M | 4.9M | 6.3M | 11M | 18M | 21M | 28M | 31M | 37M | 38M |
| Op. Margin | 3.9% | 3.9% | 6.5% | 6.1% | 5.8% | 5.6% | 6.7% | 9.0% | 7.7% | 7.1% | 6.7% | 7.2% | 11.3% |
| Net Income | 4.0M | 4.1M | 5.1M | 4.8M | 14M | 24M | 30M | 52M | 53M | 66M | 60M | 82M | 85M |
| Net Margin | 13.8% | 9.8% | 10.5% | 8.5% | 16.8% | 20.8% | 17.5% | 25.3% | 19.9% | 16.8% | 13.0% | 16.0% | 25.5% |
| Non-Recurring | 0 | -157K | 24K | 0 | 0 | 581K | 0 | 492K | 0 | 945K | 0 | 3.4M | 3.4M |
| Returns on Capital | |||||||||||||
| ROIC | 5.3% | 4.3% | 4.5% | 3.2% | 6.0% | 8.3% | 8.6% | 11.6% | 9.9% | 10.7% | 8.3% | 9.7% | 7.4% |
| ROE | 5.3% | 4.3% | 4.5% | 3.3% | 6.4% | 8.7% | 8.6% | 12.4% | 10.4% | 10.7% | 8.3% | 9.7% | 8.6% |
| ROA | 1.2% | 0.5% | 0.5% | 0.4% | 0.8% | 1.1% | 0.9% | 1.2% | 1.0% | 1.0% | 0.8% | 1.0% | 1.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 6.9M | 3.4M | 8.1M | 8.0M | 19M | 24M | 29M | 56M | 70M | 91M | 61M | 92M | 90M |
| Free Cash Flow | 6.7M | 2.4M | 6.8M | 7.5M | 18M | 20M | 26M | 52M | 62M | 79M | 60M | 92M | 90M |
| Owner Earnings | 5.6M | 2.2M | 6.4M | 6.7M | 17M | 22M | 24M | 49M | 61M | 82M | 53M | 81M | 25M |
| CapEx | 218K | 962K | 1.4M | 505K | 919K | 4.0M | 3.0M | 4.0M | 7.8M | 12M | 1.6M | 66K | 113K |
| Maint. CapEx | 810K | 1.2M | 1.3M | 1.2M | 1.2M | 1.6M | 3.2M | 4.2M | 4.8M | 4.7M | 5.3M | 5.7M | 60M |
| Growth CapEx | 0 | 0 | 91K | 0 | 0 | 2.4M | 0 | 0 | 3.0M | 7.0M | 0 | 0 | 0 |
| D&A | 810K | 1.2M | 1.3M | 1.2M | 1.2M | 1.6M | 3.2M | 4.2M | 4.8M | 4.7M | 5.3M | 5.7M | 60M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 4.8% | 16.2% | 10.1% | 7.0% | 11.2% | 12.6% | 2.5% | 0.1% | 0.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 1.1M | 1.8M | 3.3M | 5.1M | 7.5M | 9.4M | 11M | 13M | 15M | 17M | 18M |
| Dividend Yield | N/A | N/A | N/A | N/A | 1.3% | 1.8% | 2.8% | 2.1% | 2.2% | 2.8% | 2.5% | 2.3% | 1.9% |
| Share Buybacks | 0 | 2.8M | 863K | 33K | 0 | 2.6M | 5.8M | 11M | 0 | 0 | 0 | 3.7M | 3.7M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.9% | 1.8% | 2.0% | N/A | N/A | N/A | 0.5% | 0.4% |
| Stock-Based Comp | 485K | 49K | 456K | 59K | 1.0M | 1.1M | 2.5M | 2.9M | 3.7M | 4.0M | 3.0M | 5.8M | 5.1M |
| Debt Repayment | 0 | 3.0M | 3.0M | 300K | 2.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | -38M | -38M | -104M | -381M | -368M | -788M | -1.0B | -1.0B | -1.1B | N/A | N/A | -590M |
| Cash & Equiv. | 26M | 41M | 42M | 108M | 96M | 89M | 149M | 68M | 153M | 226M | 319M | 411M | 590M |
| Long-Term Debt | N/A | N/A | 3.0M | 2.7M | 25M | 0 | 0 | 53M | 0 | 0 | N/A | N/A | N/A |
| Debt/Equity | 7.68 | 0.03 | 0.03 | 0.02 | 0.09 | 0.00 | 0.00 | 0.11 | 0.00 | 0.00 | 8.83 | 8.16 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.7 |
| Equity | 79M | 112M | 114M | 180M | 260M | 285M | 410M | 433M | 580M | 644M | 799M | 897M | 991M |
| Total Assets | 685M | 1.1B | 1.1B | 1.3B | 2.1B | 2.3B | 4.2B | 4.7B | 6.0B | 6.6B | 7.9B | 8.2B | 8.9B |
| Total Liabilities | 606M | 964M | 992M | 1.1B | 1.8B | 2.0B | 3.8B | 4.3B | 5.4B | 5.9B | 7.1B | 7.3B | 7.9B |
| Intangibles | N/A | 2.6M | 2.3M | 2.0M | 7.9M | 6.7M | 9.7M | 12M | 14M | 12M | 17M | 14M | 29M |
| Retained Earnings | 17M | 20M | 24M | 27M | 38M | 57M | 79M | 122M | 164M | 216M | 261M | 327M | 344M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 0.72 | 0.59 | 0.70 | 0.61 | 1.22 | 1.74 | 1.64 | 2.53 | 2.32 | 2.59 | 2.26 | 2.79 | 2.89 |
| Owner EPS | 1.00 | 0.31 | 0.88 | 0.85 | 1.48 | 1.59 | 1.30 | 2.40 | 2.68 | 3.25 | 2.01 | 2.73 | 0.86 |
| Book Value | 14.08 | 16.20 | 15.55 | 22.64 | 22.52 | 20.87 | 22.42 | 21.03 | 25.46 | 25.42 | 30.26 | 30.35 | 33.59 |
| Cash Flow/Share | 1.23 | 0.49 | 1.12 | 1.00 | 1.67 | 1.79 | 1.60 | 2.74 | 3.05 | 3.59 | 2.32 | 3.12 | 4.92 |
| Dividends/Share | N/A | N/A | 0.15 | 0.23 | 0.30 | 0.38 | 0.40 | 0.46 | 0.48 | 0.50 | 0.56 | 0.57 | 0.60 |
| Shares Out. | 5.6M | 6.9M | 7.3M | 7.9M | 11.6M | 13.7M | 18.3M | 20.6M | 22.8M | 25.3M | 26.4M | 29.6M | 29.5M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 16.7 | 12.4 | 11.0 | 10.2 | 8.7 | 9.2 | 11.1 | 9.5 | 10.8 |
| P/FCF | N/A | N/A | N/A | N/A | 12.8 | 14.4 | 12.5 | 10.2 | 7.4 | 7.6 | 11.0 | 8.5 | 10.2 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 8.7 |
| Price/Book | N/A | N/A | N/A | N/A | 0.9 | 1.0 | 0.8 | 1.2 | 0.8 | 0.9 | 0.8 | 0.9 | 0.9 |
| Price/Sales | N/A | N/A | N/A | N/A | 3.6 | 3.2 | 1.8 | 2.3 | 2.2 | 1.8 | 2.2 | 2.2 | 2.7 |
| FCF Yield | N/A | N/A | N/A | N/A | 7.8% | 6.9% | 8.0% | 9.8% | 13.4% | 13.2% | 9.1% | 11.7% | 9.8% |
| Market Cap | N/A | N/A | N/A | N/A | 235M | 295M | 329M | 534M | 460M | 603M | 661M | 786M | 920M |
| Avg. Price | N/A | N/A | N/A | N/A | 21.62 | 21.06 | 14.91 | 21.50 | 21.68 | 17.52 | 22.59 | 24.40 | 31.16 |
| Year-End Price | N/A | N/A | N/A | N/A | 20.34 | 21.56 | 18.01 | 25.90 | 20.16 | 23.78 | 25.01 | 26.58 | 31.16 |
Business First Bancshares, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Business First Bancshares, Inc. trades at 11.2x trailing earnings, compared to its 15-year median P/E of 10.6x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 11.1x vs a median of 10.6x. The company's 5-year average ROIC is 10.1%. Total shareholder yield (dividends + buybacks) is 2.3%. At current prices, the estimated annualized return to fair value is +11.3%.
Business First Bancshares, Inc. (BFST) reported annual revenue of $517 million in its most recent fiscal year, based on SEC EDGAR filings.
Business First Bancshares, Inc. (BFST) has a net profit margin of 16.0%. This is a healthy margin.
Business First Bancshares, Inc. (BFST) generated $92 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Business First Bancshares, Inc. (BFST) has a debt-to-equity ratio of 8.16. This indicates higher leverage, which may increase financial risk.
Business First Bancshares, Inc. (BFST) reported earnings per share (EPS) of $2.79 in its most recent fiscal year.
Business First Bancshares, Inc. (BFST) has a return on equity (ROE) of 9.7%. This indicates moderate shareholder returns.
The Ledger Terminal provides 13 years of financial data for Business First Bancshares, Inc. (BFST), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Business First Bancshares, Inc. (BFST) has a book value per share of $30.35, based on its most recent annual SEC filing.