WallStSmart

FS Bancorp Inc (FSBW)vsItau Unibanco Banco Holding SA (ITUB)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Itau Unibanco Banco Holding SA generates 96973% more annual revenue ($138.95B vs $143.14M). ITUB leads profitability with a 32.3% profit margin vs 23.3%. FSBW trades at a lower P/E of 8.6x. ITUB earns a higher WallStSmart Score of 76/100 (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

ITUB

Strong Buy

76

out of 100

Grade: B+

Growth: 6.0Profit: 8.0Value: 8.0Quality: 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
ITUBOvervalued (-10.1%)

Margin of Safety

-10.1%

Fair Value

$8.69

Current Price

$8.21

$0.48 premium

UndervaluedFair: $8.69Overvalued

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

ITUB6 strengths · Avg: 9.7/10
P/E RatioValuation
10.2x10/10

Attractively priced relative to earnings

Profit MarginProfitability
32.3%10/10

Keeps 32 of every $100 in revenue as profit

Operating MarginProfitability
37.3%10/10

Strong operational efficiency at 37.3%

Free Cash FlowQuality
$45.01B10/10

Generating 45.0B in free cash flow

Market CapQuality
$86.41B9/10

Large-cap with strong market position

Return on EquityProfitability
21.0%9/10

Every $100 of equity generates 21 in profit

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

ITUB1 concerns · Avg: 4.0/10
EPS GrowthGrowth
2.8%4/10

2.8% earnings growth

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 : ITUB

The strongest argument for ITUB centers on P/E Ratio, Profit Margin, Operating Margin. Profitability is solid with margins at 32.3% and operating margin at 37.3%. Revenue growth of 11.0% demonstrates continued momentum.

Bear Case : FSBW

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

Bear Case : ITUB

The primary concerns for ITUB are EPS Growth.

Key Dynamics to Monitor

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

ITUB is growing revenue faster at 11.0% — sustainability is the question.

ITUB generates stronger free cash flow (45.0B), providing more financial flexibility.

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

Bottom Line

ITUB scores higher overall (76/100 vs 68/100), backed by strong 32.3% margins and 11.0% revenue growth. 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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Itau Unibanco Banco Holding SA

FINANCIAL SERVICES · BANKS - REGIONAL · USA

Ita Unibanco Holding SA offers a range of financial products and services in Brazil and internationally. The company is headquartered in So Paulo, Brazil.

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