All three tenses have at least two readings, so the archetype blend applies as printed.
All nine metrics read as filed from the record.
What did they actually do?
Has it survived what it has been through?
1 warning event since 2017; the latest 2025-06-04.
From the record
FS Bancorp, Inc.'s filings since 2017 show 1 warning event: an auditor change (8-K item 4.01, the latest 2025-06-04) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
+20.1% a year over 10 filed years; profitable in 10 of 10.
From the record
FS Bancorp, Inc.'s 10 filed years say what it did: revenue went from $38 million in fiscal 2016 to $197 million in fiscal 2025, up 20.1% a year; it rose in 8 of 9 years; the deepest fall was 1% from fiscal 2019 to fiscal 2020; net income was positive in 10 of 10 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
Share count shrank 1.0% a year. 22% of cash flow returned. Insiders: 13 sales, 0 purchases.
From the record
Over the 3 fiscal years to 2025-12-31, FS Bancorp, Inc.'s diluted share count shrank about 1.0% a year, and dividends and buybacks returned about 22% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 13 sales and 0 purchases of their own stock on the open market in the year to 2026-11-10 (their Form 4 filings).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they doing right now?
Is it financially healthy right now?
ROE 11%: 11¢ of profit per shareholder dollar. Leverage 90%: owes 90¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-12-31, FS Bancorp, Inc. earned about 11 cents of profit for every dollar of shareholders' money. Leverage: it owed about 90 cents per dollar of assets, and net share issuance: its share count shrank 3.2% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
top 37% of 22 in its family; net margin 16.9%.
From the record
FS Bancorp, Inc.'s standing among 22 graded names in its industry family: revenue of $197 million in fiscal 2025 ranks in the top 25% by size; a net margin of 16.9% ranks in the top 39%; revenue growth of 18.4% a year over the last 3 filed years ranks in the top 48% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
bottom 40% of 16 in its family for leadership; chief executive since 2026.
From the record
FS Bancorp, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Mullet, Matthew D. (President and CEO, as filed), filing under that title since 2026-02-10, 9 months (bottom 12% of its family); the 17 officers and directors filing in the last fifteen months have been on the record a median of 8.3 years (top 25%); 10 officer or director changes were reported on Form 8-K since 2023-11-13, against the 17 people in charge now (bottom 34%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
bottom 36% of 19 in its family for room to expand.
From the record
FS Bancorp, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $28 million against debt of $129 million leaves -3.2% of its assets as net cash, bottom 3% of its family; cash from operations less capital spending is 26.3% of revenue (top 30%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
top 45% of 19 in its family for growth drivers.
From the record
FS Bancorp, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 18.4% a year over the last three filed years against 20.1% over all 10, slowing (bottom 13% of its family); the newest year grew 6.7% (top 45%); capital spending grew 135.9% a year (top 3%) (its annual reports). FS Bancorp, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
bottom 28% of 17 in its family for expectations against reality.
From the record
FS Bancorp, Inc.'s newest year against its own record: revenue of $197 million in fiscal 2025 came in 14.5% below the $231 million its prior three years' pace pointed to (top 50% of its family); net income of $33 million against a prior three-year average of $34 million (bottom 9%); a net margin of 16.9% against 21.8% before (bottom 26%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made