BFSTBusiness First Bancshares, Inc.
State Commercial Banks
- Revenue
- $11M
- 1.2% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$573M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear105% of net incomeCash flow under 80% of net income
- Dilutive SBCFired54% of revenueOver 10% of revenue
- Payouts exceed cash flowClear22% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear2% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $7M | $8M | $10M | $11M | $11M | 1.2% |
| Net income | $52M | $54M | $71M | $65M | $88M | 35% |
| Operating cash flow | $56M | $70M | $91M | $61M | $92M | 50% |
| Capex | $4M | $8M | $12M | $2M | $66K | 96% |
| Stock-based comp | $3M | $4M | $4M | $3M | $6M | 94% |
| Buybacks | $11M | $0 | $0 | $0 | $4M | |
| Dividends | $9M | $11M | $13M | $15M | $17M | 13% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $560K · 1
- Net
- −$560K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $3M | $3M | 144 | 131 |
| FY2024 | $3M | $3M | 138 | 127 |
| FY2023 | $2M | $2M | 129 | 116 |
| FY2022 | $3M | $2M | 113 | 121 |
| FY2021 | $2M | $2M | 142 | 133 |