A Business at a Glance
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FINANCIAL INSTITUTIONS INC
FISI
$826M
Mkt Cap
$40.62
+4.91%
FINANCIAL INSTITUTIONS INC (FISI) has a 5-year average return on invested capital (ROIC) of 7.2%. This is below average and may indicate limited pricing power.
FINANCIAL INSTITUTIONS INC (FISI) has a market capitalization of $841M. It is classified as a small-cap stock.
Yes, FINANCIAL INSTITUTIONS INC (FISI) pays a dividend with a trailing twelve-month yield of 2.97%. The company also returns capital through share buybacks, with a buyback yield of 2.03%.
FINANCIAL INSTITUTIONS INC (FISI) operates in the National Commercial Banks industry, within the Financials sector.
FINANCIAL INSTITUTIONS INC (FISI) reported annual revenue of $378 million in its most recent fiscal year, based on SEC EDGAR filings.
FINANCIAL INSTITUTIONS INC (FISI) has a net profit margin of 19.4%. This is a healthy margin.
FINANCIAL INSTITUTIONS INC (FISI) generated $13 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
The Parent is a financial holding company organized in 1931 under the laws of New York State (“New York” or “NYS”). The principal office of the Parent is located at 220 Liberty Street, Warsaw, New York 14569 and its telephone number is (585) 786-1100. The Parent was incorporated on September 15, 1931, but the continuity of the Company’s banking business is traced to the organization of the National Bank of Geneva on March 28, 1817. Except as the context otherwise requires, the Parent and its direct and indirect subsidiaries are collectively referred to in this report as the “Company.” The Parent’s common stock is traded on the Nasdaq Global Select Market under the ticker symbol “FISI.” The Parent’s primary business is the operation of its subsidiaries. It does not engage in any other substantial business activities.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 250M | 378M | 267M | 334M | 242M | 214M |
| Net Income | 78M | 73M | -43M | 49M | 55M | 76M |
| EPS | $3.74 | $3.61 | $-2.75 | $3.15 | $3.56 | $4.78 |
| Free Cash Flow | 27M | 13M | 72M | 7.9M | 125M | 64M |
| ROIC | 10.9% | 9.7% | -6.8% | 9.2% | 10.4% | 13.6% |
| Gross Margin | - | 64.0% | 45.2% | 63.8% | - | - |
| Debt/Equity | 0.30 | 0.48 | 0.39 | 0.68 | 0.69 | 0.21 |
| Dividends/Share | $1.20 | $1.24 | $1.20 | $1.20 | $1.16 | $1.08 |
| Operating Income | 6.1M | 5.9M | 5.7M | 5.3M | 4.7M | 4.2M |
| Operating Margin | 2.4% | 1.6% | 2.1% | 1.6% | 1.9% | 2.0% |
| ROE | 12.3% | 12.3% | -8.4% | 11.3% | 12.1% | 15.7% |
| Shares Outstanding | 21M | 20M | 16M | 15M | 15M | 16M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 126M | 136M | 151M | 165M | 189M | 209M | 204M | 214M | 242M | 334M | 267M | 378M | 250M |
| Gross Margin | 88.1% | 87.1% | 85.3% | 81.3% | 79.5% | 77.6% | 75.8% | N/A | N/A | 63.8% | 45.2% | 64.0% | 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 | 39M | 42M | 45M | 49M | 55M | 56M | 59M | 61M | 70M | 72M | 66M | 73M | 75M |
| EBIT | 3.4M | 3.8M | 4.2M | 4.9M | 5.0M | 5.3M | 4.3M | 4.2M | 4.7M | 5.3M | 5.7M | 5.9M | 6.1M |
| Op. Margin | 2.7% | 2.8% | 2.8% | 3.0% | 2.7% | 2.5% | 2.1% | 2.0% | 1.9% | 1.6% | 2.1% | 1.6% | 2.4% |
| Net Income | 28M | 27M | 30M | 32M | 38M | 47M | 37M | 76M | 55M | 49M | -43M | 73M | 78M |
| Net Margin | 22.1% | 19.8% | 20.2% | 19.5% | 20.1% | 22.7% | 18.0% | 35.6% | 22.7% | 14.6% | -16.2% | 19.4% | 31.0% |
| Non-Recurring | 0 | 751K | 0 | 1.6M | 2.4M | 0 | 1.5M | 111K | 1.6M | 114K | 14M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 10.4% | 8.8% | 8.8% | 8.2% | 8.9% | 10.4% | 7.2% | 13.6% | 10.4% | 9.2% | -6.8% | 9.7% | 10.9% |
| ROE | 10.4% | 9.4% | 9.9% | 9.1% | 9.8% | 11.4% | 8.1% | 15.7% | 12.1% | 11.3% | -8.4% | 12.3% | 12.3% |
| ROA | 0.9% | 0.8% | 0.9% | 0.8% | 0.9% | 1.1% | 0.8% | 1.5% | 1.0% | 0.8% | -0.7% | 1.2% | 1.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 35M | 43M | 47M | 46M | 65M | 58M | 43M | 73M | 134M | 11M | 77M | 19M | 32M |
| Free Cash Flow | 30M | 36M | 39M | 39M | 62M | 54M | 39M | 64M | 125M | 7.9M | 72M | 13M | 27M |
| Owner Earnings | 30M | 37M | 40M | 39M | 57M | 48M | 34M | 63M | 123M | 1.1M | 68M | 7.8M | -36M |
| CapEx | 5.3M | 7.5M | 7.6M | 7.7M | 2.8M | 3.6M | 4.3M | 9.4M | 8.4M | 3.0M | 5.0M | 5.5M | 5.4M |
| Maint. CapEx | 4.6M | 5.4M | 6.0M | 6.2M | 6.5M | 8.2M | 7.9M | 8.0M | 8.1M | 8.1M | 7.7M | 7.9M | 65M |
| Growth CapEx | 747K | 2.1M | 1.7M | 1.6M | 0 | 0 | 0 | 1.4M | 257K | 0 | 0 | 0 | 0 |
| D&A | 4.6M | 5.4M | 6.0M | 6.2M | 6.5M | 8.2M | 7.9M | 8.0M | 8.1M | 8.1M | 7.7M | 7.9M | 65M |
| CapEx/OCF | 15.1% | 17.4% | 16.3% | 16.7% | 4.4% | 6.3% | 9.8% | 12.9% | 6.3% | 27.5% | 6.4% | N/A | 16.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 11M | 11M | 11M | 12M | 15M | 16M | 16M | 17M | 18M | 18M | 19M | 25M | 25M |
| Dividend Yield | 5.2% | 5.0% | 4.3% | 3.9% | 4.3% | 4.6% | 6.8% | 4.5% | 5.0% | 7.2% | 5.8% | N/A | 3.0% |
| Share Buybacks | 194K | 202K | 0 | 148K | 113K | 293K | 209K | 9.2M | 15M | 571K | 426K | 11M | 17M |
| Buyback Yield | 0.1% | 0.1% | N/A | 0.0% | 0.0% | 0.1% | 0.1% | 2.2% | 4.9% | 0.2% | 0.1% | 0.0% | 2.0% |
| Stock-Based Comp | 471K | 674K | 845K | 1.2M | 1.3M | 1.4M | 1.3M | 1.7M | 2.6M | 1.7M | 1.6M | 3.1M | 3.5M |
| Debt Repayment | 2.2M | 42M | 38M | 115M | 23M | 194M | 270M | 25M | 175M | 0 | 0 | 10M | 10M |
| Balance Sheet | |||||||||||||
| Net Debt | -346M | -216M | -241M | -139M | -40M | -216M | -643M | -1.2B | -806M | -703M | -775M | -729M | -897M |
| Cash & Equiv. | 58M | 3.8M | 71M | 99M | 103M | 113M | 94M | 79M | 130M | 124M | 87M | 109M | 1.1B |
| Long-Term Debt | 0 | 39M | 39M | 39M | 39M | 39M | 74M | 74M | 74M | 125M | 125M | 194M | 79M |
| Debt/Equity | 1.20 | 1.13 | 1.16 | 1.27 | 1.28 | 0.72 | 0.17 | 0.21 | 0.69 | 0.68 | 0.39 | 0.48 | 0.30 |
| 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 | N/A |
| Equity | 280M | 294M | 320M | 381M | 396M | 439M | 468M | 505M | 406M | 455M | 569M | 629M | 632M |
| Total Assets | 3.1B | 3.4B | 3.7B | 4.1B | 4.3B | 4.4B | 4.9B | 5.5B | 5.8B | 6.2B | 6.1B | 6.3B | 6.3B |
| Total Liabilities | 2.8B | 3.1B | 3.4B | 3.7B | 3.9B | 3.9B | 4.4B | 5.0B | 5.4B | 5.7B | 5.5B | 5.6B | 5.7B |
| Intangibles | 7.5M | 6.5M | 9.2M | 8.9M | 10M | 8.9M | 7.7M | 7.3M | 6.3M | 5.4M | 2.6M | 2.2M | 2.1M |
| Retained Earnings | 203M | 219M | 238M | 257M | 280M | 313M | 325M | 384M | 421M | 452M | 389M | 437M | 451M |
| 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 | 2.00 | 1.90 | 2.10 | 2.13 | 2.39 | 2.96 | 2.30 | 4.78 | 3.56 | 3.15 | -2.75 | 3.61 | 3.74 |
| Owner EPS | 2.16 | 2.61 | 2.75 | 2.59 | 3.60 | 3.00 | 2.14 | 3.96 | 7.94 | 0.07 | 4.33 | 0.39 | -1.72 |
| Book Value | 20.04 | 20.77 | 22.06 | 25.32 | 24.88 | 27.41 | 29.22 | 31.67 | 26.20 | 29.35 | 36.30 | 30.92 | 30.52 |
| Cash Flow/Share | 2.53 | 3.05 | 3.22 | 3.07 | 4.09 | 3.60 | 2.71 | 4.57 | 8.63 | 0.70 | 4.92 | 0.92 | 6.87 |
| Dividends/Share | 0.77 | 0.80 | 0.81 | 0.85 | 0.96 | 1.00 | 1.04 | 1.08 | 1.16 | 1.20 | 1.20 | 1.24 | 1.20 |
| Shares Out. | 13.9M | 14.1M | 14.5M | 15.1M | 15.9M | 16.0M | 16.0M | 15.9M | 15.5M | 15.5M | 15.7M | 20.3M | 20.7M |
| Valuation | |||||||||||||
| P/E Ratio | 8.4 | 9.8 | 11.0 | 10.4 | 7.6 | 8.0 | 7.8 | 5.4 | 5.7 | 6.2 | N/A | N/A | 10.8 |
| P/FCF | 7.8 | 7.4 | 8.6 | 8.6 | 4.7 | 7.0 | 7.3 | 6.5 | 2.5 | 38.4 | 5.6 | N/A | 31.0 |
| EV/EBIT | 168.8 | 156.0 | 167.0 | 166.3 | 159.2 | 132.1 | 85.9 | 122.3 | 126.8 | 92.4 | 95.6 | N/A | -9.2 |
| Price/Book | 0.8 | 0.9 | 1.0 | 0.9 | 0.7 | 0.9 | 0.6 | 0.8 | 0.8 | 0.7 | 0.7 | N/A | 1.3 |
| Price/Sales | 1.7 | 1.8 | 1.9 | 2.2 | 2.2 | 2.0 | 1.3 | 1.9 | 1.7 | 1.2 | 2.7 | N/A | 3.4 |
| FCF Yield | 12.8% | 13.5% | 11.7% | 11.6% | 21.4% | 14.2% | 13.7% | 15.3% | 39.9% | 2.6% | 17.8% | N/A | 3.2% |
| Market Cap | 234M | 265M | 335M | 332M | 291M | 380M | 286M | 415M | 314M | 303M | 405M | 0 | 841M |
| Avg. Price | 14.53 | 15.83 | 18.51 | 21.36 | 21.88 | 21.25 | 15.19 | 23.86 | 22.81 | 16.49 | 20.39 | 0.00 | 40.62 |
| Year-End Price | 16.80 | 18.70 | 23.11 | 22.05 | 18.28 | 23.72 | 17.85 | 26.05 | 20.27 | 19.58 | 25.82 | 0.00 | 40.62 |
FINANCIAL INSTITUTIONS INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 39.7x vs a median of 7.0x. The company's 5-year average ROIC is 7.2% with a gross margin of 57.7%. Total shareholder yield (dividends + buybacks) is 5.0%. At current prices, the estimated annualized return to fair value is -10.9%.
FINANCIAL INSTITUTIONS INC (FISI) has a debt-to-equity ratio of 0.48. This indicates a conservatively financed balance sheet.
FINANCIAL INSTITUTIONS INC (FISI) reported earnings per share (EPS) of $3.61 in its most recent fiscal year.
FINANCIAL INSTITUTIONS INC (FISI) has a return on equity (ROE) of 12.3%. This indicates moderate shareholder returns.
FINANCIAL INSTITUTIONS INC (FISI) has a 5-year average gross margin of 57.7%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for FINANCIAL INSTITUTIONS INC (FISI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FINANCIAL INSTITUTIONS INC (FISI) has a book value per share of $30.92, based on its most recent annual SEC filing.