WallStSmart

FS Bancorp Inc (FSBW)vsICICI Bank Limited (IBN)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

ICICI Bank Limited generates 1344558% more annual revenue ($1.92T vs $143.14M). IBN leads profitability with a 27.5% profit margin vs 23.3%. FSBW trades at a lower P/E of 8.6x. IBN earns a higher WallStSmart Score of 69/100 (B-).

FSBW

Strong Buy

68

out of 100

Grade: B-

Growth: 7.3Profit: 7.0Value: 8.3Quality: 5.0
Piotroski: 4/9Altman Z: -0.61

IBN

Strong Buy

69

out of 100

Grade: B-

Growth: 5.3Profit: 8.0Value: 7.3Quality: 5.0
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FSBWUndervalued (+75.5%)

Margin of Safety

+75.5%

Fair Value

$169.88

Current Price

$39.15

$130.73 discount

UndervaluedFair: $169.88Overvalued
IBNSignificantly Overvalued (-191.4%)

Margin of Safety

-191.4%

Fair Value

$10.68

Current Price

$26.31

$15.63 premium

UndervaluedFair: $10.68Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

FSBW5 strengths · Avg: 9.4/10
P/E RatioValuation
8.6x10/10

Attractively priced relative to earnings

Price/BookValuation
0.9x10/10

Reasonable price relative to book value

Operating MarginProfitability
32.3%10/10

Strong operational efficiency at 32.3%

Profit MarginProfitability
23.3%9/10

Keeps 23 of every $100 in revenue as profit

EPS GrowthGrowth
20.5%8/10

Earnings expanding 20.5% YoY

IBN5 strengths · Avg: 8.8/10
Operating MarginProfitability
34.0%10/10

Strong operational efficiency at 34.0%

Market CapQuality
$95.10B9/10

Large-cap with strong market position

Profit MarginProfitability
27.5%9/10

Keeps 28 of every $100 in revenue as profit

PEG RatioValuation
0.538/10

Growing faster than its price suggests

P/E RatioValuation
16.6x8/10

Attractively priced relative to earnings

Areas to Watch

FSBW2 concerns · Avg: 2.5/10
Market CapQuality
$278.48M3/10

Smaller company, higher risk/reward

Altman Z-ScoreHealth
-0.612/10

Distress zone — elevated risk

IBN2 concerns · Avg: 3.0/10
Revenue GrowthGrowth
3.0%4/10

3.0% revenue growth

EPS GrowthGrowth
-3.7%2/10

Earnings declined 3.7%

Comparative Analysis Report

WallStSmart Research

Bull Case : FSBW

The strongest argument for FSBW centers on P/E Ratio, Price/Book, Operating Margin. Profitability is solid with margins at 23.3% and operating margin at 32.3%.

Bull Case : IBN

The strongest argument for IBN centers on Operating Margin, Market Cap, Profit Margin. Profitability is solid with margins at 27.5% and operating margin at 34.0%. PEG of 0.53 suggests the stock is reasonably priced for its growth.

Bear Case : FSBW

The primary concerns for FSBW are Market Cap, Altman Z-Score.

Bear Case : IBN

The primary concerns for IBN are Revenue Growth, EPS Growth.

Key Dynamics to Monitor

FSBW profiles as a mature stock while IBN is a value play — different risk/reward profiles.

FSBW carries more volatility with a beta of 0.68 — expect wider price swings.

FSBW is growing revenue faster at 6.4% — sustainability is the question.

Monitor BANKS - REGIONAL industry trends, competitive dynamics, and regulatory changes.

Bottom Line

IBN scores higher overall (69/100 vs 68/100), backed by strong 27.5% margins. FSBW offers better value entry with a 75.5% margin of safety. Both earn "Strong Buy" and "Strong Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

FS Bancorp Inc

FINANCIAL SERVICES · BANKS - REGIONAL · USA

FS Bancorp, Inc. is a bank holding company for 1st Security Bank of Washington providing banking and financial services to local families, local and regional businesses, and industry niches. The company is headquartered in Mountlake Terrace, Washington.

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ICICI Bank Limited

FINANCIAL SERVICES · BANKS - REGIONAL · USA

ICICI Bank Limited offers various banking products and financial services in India and internationally. The company is headquartered in Mumbai, India.

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