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Relative valuation derived from Financials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 39.4GRADE D
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
0.6%
Sector: 8.5%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, FB Bancorp, Inc. /MD/ (FBLA) receives a "Hold" rating with a composite score of 46.4/100, ranked #589 out of 4446 stocks. Key factor scores: Quality 39/100, Value 48/100, Momentum 53/100. This is quantitative analysis only — not investment advice.
FB Bancorp, Inc. /MD/ (FBLA) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does FB Bancorp, Inc. /MD/ Do?
FB Bancorp, Inc. /MD/ (FBLA) is a micro-cap company in the Financials sector, operating within the Banking industry. The stock has a market capitalization of $190M, making it a notable participant in its sector. Investors researching FBLA stock will find a comprehensive, data-driven analysis below covering valuation, profitability, growth, dividends, and peer comparisons for the Banking space.
FB Bancorp, Inc. /MD/ (FBLA) Stock Rating — Hold (April 2026)
As of April 2026, FB Bancorp, Inc. /MD/ receives a Hold rating with a composite score of 46.4/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.FBLA ranks #589 out of 4,446 stocks in our coverage universe. Within the Financials sector, FB Bancorp, Inc. /MD/ ranks #179 of 891 stocks, placing it in the top quartile of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
FBLA Stock Price and 52-Week Range
FB Bancorp, Inc. /MD/ (FBLA) currently trades at $14.05. The stock lost $0.10 (0.7%) in the most recent trading session. The 52-week high for FBLA is $14.00, which means the stock is currently trading 0.4% from its annual peak. The 52-week low is $9.81, putting the stock 43.2% above its annual trough. Recent trading volume was 111K shares, suggesting relatively thin trading activity.
Is FBLA Overvalued or Undervalued? — Valuation Analysis
FB Bancorp, Inc. /MD/ (FBLA) carries a value factor score of 48/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 108.47x, compared to the Financials sector average of 14.88x — a premium of 629%. The price-to-book ratio stands at 0.61x, versus the sector average of 1.22x. The price-to-sales ratio is 2.73x, compared to 0.90x for the average Financials stock. On an enterprise value basis, FBLA trades at 78.19x EV/EBITDA, versus 3.26x for the sector.
Overall, FBLA's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
FB Bancorp, Inc. /MD/ Profitability — ROE, Margins, and Quality Score
FB Bancorp, Inc. /MD/ (FBLA) earns a quality factor score of 39/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 0.6%, compared to the Financials sector average of 8.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 0.1% versus the sector average of 1.2%.
On a margin basis, FB Bancorp, Inc. /MD/ reports gross margins of 34.5%. The operating margin is 4.3% (sector: 21.8%). Net profit margin stands at 2.4%, versus 17.7% for the average Financials stock. Revenue growth is running at 4.0% on a trailing basis, compared to 9.4% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
FBLA Debt, Balance Sheet, and Financial Health
FB Bancorp, Inc. /MD/ has a debt-to-equity ratio of 299.0%, compared to the Financials sector average of 121.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 1.33x, suggesting adequate working capital coverage. Total debt on the balance sheet is $903M. Cash and equivalents stand at $66M.
FBLA has a beta of 0.48, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for FB Bancorp, Inc. /MD/ is 94/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
FB Bancorp, Inc. /MD/ Revenue and Earnings History — Quarterly Trend
In TTM 2026, FB Bancorp, Inc. /MD/ reported revenue of $70M and earnings per share (EPS) of $0.07. Net income for the quarter was $2M. Gross margin was 34.5%. Operating income came in at $3M.
In FY 2025, FB Bancorp, Inc. /MD/ reported revenue of $66M and earnings per share (EPS) of $0.07. Net income for the quarter was $1M. Revenue grew -1.0% year-over-year compared to FY 2024. Operating income came in at $5M.
In Q3 2025, FB Bancorp, Inc. /MD/ reported revenue of $19M and earnings per share (EPS) of $0.06. Net income for the quarter was $1M. Revenue grew 11.1% year-over-year compared to Q3 2024. Operating income came in at $1M.
In Q2 2025, FB Bancorp, Inc. /MD/ reported revenue of $18M and earnings per share (EPS) of $0.05. Net income for the quarter was $879,000. Revenue grew -2.6% year-over-year compared to Q2 2024. Operating income came in at $1M.
Over the past 8 quarters, FB Bancorp, Inc. /MD/ has demonstrated a growth trajectory, with revenue expanding from $18M to $70M. Investors analyzing FBLA stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
FBLA Dividend Yield and Income Analysis
FB Bancorp, Inc. /MD/ (FBLA) does not currently pay a dividend. This is common among smaller companies in the Banking industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Financials dividend stocks may want to explore other Financials stocks or use the stock screener to filter by dividend yield.
FBLA Momentum and Technical Analysis Profile
FB Bancorp, Inc. /MD/ (FBLA) has a momentum factor score of 53/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 32/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 16/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
FBLA vs Competitors — Financials Sector Ranking and Peer Comparison
Comparing FBLA against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full FBLA vs S&P 500 (SPY) comparison to assess how FB Bancorp, Inc. /MD/ stacks up against the broader market across all factor dimensions.
FBLA Next Earnings Date
No upcoming earnings date has been announced for FB Bancorp, Inc. /MD/ (FBLA) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy FBLA? — Investment Thesis Summary
FB Bancorp, Inc. /MD/ presents a balanced picture with arguments on both sides. The quality score of 39/100 flags below-average profitability. Low volatility (stability score 94/100) reduces downside risk.
In summary, FB Bancorp, Inc. /MD/ (FBLA) earns a Hold rating with a composite score of 46.4/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on FBLA stock.
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Institutional Research Dossier
FB Bancorp, Inc. /MD/ (FBLA) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
We maintain our Hold rating on FB Bancorp (FBLA). While the company has demonstrated recent profitability and stability, its valuation appears significantly stretched compared to its peers and historical performance. The combination of a high debt load, negative free cash flow, and relatively low profitability metrics raises concerns about its long-term sustainability and ability to generate shareholder value, justifying a neutral stance.
FBLA's stability score is a bright spot, but this is overshadowed by its weak quality and investment scores. The company's high P/E ratio and EV/EBITDA multiple suggest that the market has priced in significant future growth, which may be difficult to achieve given its current financial profile. Investors should remain cautious and monitor the company's progress in improving its profitability and cash flow generation before considering a more bullish outlook.
Business Strategy & Overview
FB Bancorp, Inc. operates as a financial institution, likely providing banking services such as deposit accounts, loans, and other financial products to individuals and businesses. Without specific details on their target market or geographic focus, it's challenging to pinpoint their exact competitive niche. However, given their size (small-cap), they likely operate within a specific regional market, focusing on community banking.
The company's revenue generation is primarily driven by interest income from loans and potentially fee income from various banking services. The relatively small revenue base of $18.73 million suggests a limited scale of operations. Their strategy likely involves attracting deposits at competitive rates and deploying those funds into loans while managing credit risk effectively. The gross margin of 34.5% suggests that the cost of providing their services is relatively high, impacting overall profitability.
The banking industry is highly competitive, with numerous national, regional, and local players vying for market share. FBLA's success hinges on its ability to differentiate itself through superior customer service, specialized product offerings, or a strong local presence. The company's strategic positioning within its market is crucial for attracting and retaining customers in a competitive landscape.
Given the limited data on product pipeline or specific growth initiatives, it's difficult to assess the company's future prospects. However, the recent trend of increasing revenue and net income in the last three quarters of FY2025 indicates a potential turnaround after a loss-making FY2024. The company needs to demonstrate consistent profitability and sustainable growth to justify its current valuation.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
4.0%
Sector: 9.4%
-57% VS SCTR
Economic Moat Analysis
FB Bancorp's economic moat appears to be None. The banking industry is generally characterized by intense competition and relatively low barriers to entry, especially for smaller institutions. While community banks can sometimes establish a local presence and customer loyalty, these advantages are often easily replicated by competitors.
The company does not appear to possess any significant network effects. The value of its services does not increase as more customers join the network. Switching costs for customers are also relatively low, as they can easily transfer their accounts to other banks offering better rates or services. This lack of customer stickiness makes it difficult for FBLA to retain its customer base and maintain its market share.
Intangible assets, such as brand recognition or proprietary technology, do not seem to be a significant source of competitive advantage for FBLA. The company's brand is likely limited to its local market, and it does not appear to have any unique technological capabilities that differentiate it from its competitors. This lack of differentiation makes it difficult for FBLA to command premium pricing or attract customers based on brand reputation.
Cost advantages are also unlikely to be a significant source of competitive advantage for FBLA. The company's operating margin of 4.3% is significantly lower than the sector average of 22.0%, indicating that it is not operating efficiently. This lack of cost competitiveness makes it difficult for FBLA to compete on price and maintain its profitability.
Efficient scale is also not a relevant factor for FBLA. The banking industry is not characterized by significant economies of scale, and smaller institutions can often compete effectively with larger players by focusing on niche markets or providing personalized service. However, FBLA's small size and limited resources may make it difficult for it to invest in technology and infrastructure, which could hinder its ability to compete in the long run.
Financial Health & Profitability
FB Bancorp's financial health presents a mixed picture. While recent quarterly results show improving revenue and net income, the overall profitability remains weak. The company's net income of $1.08 million on revenue of $18.73 million translates to a net margin of only 2.4%, significantly below the sector average of 17.8%. This suggests that the company is struggling to convert its revenue into profits.
The company's ROE of 0.5% is also significantly lower than the sector average of 8.5%, indicating that it is not generating sufficient returns on its equity. This low ROE is a major concern, as it suggests that the company is not effectively utilizing its capital to generate profits. The negative free cash flow of $-4.17 million is another red flag, as it indicates that the company is not generating enough cash to cover its operating expenses and capital expenditures.
The balance sheet is heavily leveraged, with total debt of $903.34 million and a debt-to-equity ratio of 274.00, significantly higher than the sector average of 115.00. This high level of debt increases the company's financial risk and limits its flexibility to invest in growth opportunities. The current ratio of 1.37 indicates that the company has sufficient short-term liquidity to meet its obligations, but the high debt load remains a concern.
The quarterly financial history reveals a volatile performance. While the last three quarters of FY2025 show positive net income, FY2024 was a loss-making year. This inconsistency in profitability raises concerns about the company's ability to generate sustainable earnings. The negative free cash flow in Q3 and Q2 of FY2024 highlights the company's cash flow challenges.
The gross margin of 34.5% in Q3 FY2024 and 40.8% in Q2 FY2024 suggests that the company has some control over its cost of goods sold. However, the operating margin was negative in FY2024, indicating that the company's operating expenses are too high. The recent improvement in operating margin in FY2025 is a positive sign, but it needs to be sustained over the long term.
Valuation Assessment
FB Bancorp's valuation appears significantly stretched based on its current financial performance. The company's P/E ratio of 221.8x is extremely high compared to the sector average of 15.5x, indicating that the stock is significantly overvalued relative to its earnings. This high P/E ratio suggests that the market has priced in significant future growth, which may be difficult to achieve given the company's current financial profile.
The EV/EBITDA multiple of 36.5x is also significantly higher than the sector average of 3.5x, further supporting the conclusion that the stock is overvalued. This high EV/EBITDA multiple suggests that the market is willing to pay a premium for the company's earnings, which may not be justified given its weak profitability and high debt load.
The negative free cash flow makes it difficult to assess the company's valuation based on FCF yield. However, the fact that the company is not generating positive free cash flow is a major concern, as it indicates that it is not creating value for its shareholders.
Compared to its historical performance, the current valuation appears even more stretched. The company's recent profitability is a significant improvement over its loss-making FY2024, but it is still far below its historical levels. The high debt load and negative free cash flow further complicate the valuation picture.
Overall, the valuation appears to be expensive relative to its growth, its history, and its sector. The market seems to be pricing in significant future growth, which may not be realistic given the company's current financial profile. Investors should exercise caution and carefully consider the risks before investing in FB Bancorp.
Risk & Uncertainty
FB Bancorp faces several specific, idiosyncratic risks that could negatively impact its business and financial performance. The most significant risk is its high level of debt. The company's debt-to-equity ratio of 274.00 is significantly higher than the sector average, increasing its financial risk and limiting its flexibility to invest in growth opportunities. Rising interest rates could further exacerbate this risk by increasing the company's interest expense and reducing its profitability.
Competition within the banking industry is another significant risk. FB Bancorp operates in a highly competitive market with numerous national, regional, and local players vying for market share. The company's small size and limited resources may make it difficult for it to compete effectively with larger, more established institutions. Increased competition could lead to lower interest rates, reduced fee income, and increased operating expenses, all of which could negatively impact the company's profitability.
Regulatory risk is also a concern for FB Bancorp. The banking industry is heavily regulated, and changes in regulations could have a significant impact on the company's business. Increased regulatory scrutiny could lead to higher compliance costs and reduced profitability. The company's ability to comply with existing and future regulations is crucial for its long-term success.
Credit risk is another important consideration. As a lender, FB Bancorp is exposed to the risk that its borrowers will default on their loans. A deterioration in the economic environment could lead to higher default rates and increased loan losses, which could negatively impact the company's profitability and capital position. Effective credit risk management is essential for mitigating this risk.
Bulls Say / Bears Say
The Bull Case
BULL VIEWFB Bancorp's recent trend of increasing revenue and net income signals a successful turnaround strategy, making it an attractive investment opportunity.
BULL VIEWThe company's high stability score indicates a resilient business model capable of weathering economic downturns, providing a safe haven for investors.
BULL VIEWWith strategic acquisitions and expansion into new markets, FBLA is poised to experience exponential growth, justifying its current valuation.
The Bear Case
BEAR VIEWFB Bancorp's extremely high P/E ratio and EV/EBITDA multiple compared to the sector indicate significant overvaluation, making it a risky investment.
BEAR VIEWThe company's negative free cash flow and high debt load raise serious concerns about its long-term financial sustainability and ability to generate shareholder value.
BEAR VIEWFBLA's low ROE and net margin demonstrate poor profitability, suggesting that the company is struggling to compete effectively in the banking industry.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score FBLA and 4,400+ other equities.
FB Bancorp, Inc. /MD/ exhibits a 770% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
0.1%
Sector: 1.2%
Gross Margin
Pricing power and cost efficiency
34.5%
Sector: 0.0%
Operating Margin
Core business profitability
4.3%
Sector: 21.8%
Net Margin
Bottom-line profitability
2.4%
Sector: 17.7%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
