WallStSmart

FS Bancorp Inc (FSBW)vsHDFC Bank Limited ADR (HDB)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

HDFC Bank Limited ADR generates 1987737% more annual revenue ($2.85T vs $143.14M). HDB leads profitability with a 26.2% profit margin vs 23.3%. FSBW trades at a lower P/E of 8.6x. HDB earns a higher WallStSmart Score of 78/100 (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

HDB

Strong Buy

78

out of 100

Grade: B+

Growth: 8.0Profit: 7.5Value: 8.7Quality: 5.3
Piotroski: 3/9Altman Z: -0.14
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
HDBUndervalued (+11.2%)

Margin of Safety

+11.2%

Fair Value

$36.29

Current Price

$25.79

$10.50 discount

UndervaluedFair: $36.29Overvalued

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

HDB5 strengths · Avg: 8.8/10
Operating MarginProfitability
34.8%10/10

Strong operational efficiency at 34.8%

Market CapQuality
$130.27B9/10

Large-cap with strong market position

Profit MarginProfitability
26.2%9/10

Keeps 26 of every $100 in revenue as profit

P/E RatioValuation
17.6x8/10

Attractively priced relative to earnings

Revenue GrowthGrowth
26.4%8/10

Revenue surging 26.4% year-over-year

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

HDB3 concerns · Avg: 2.7/10
Debt/EquityHealth
1.093/10

Elevated debt levels

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Altman Z-ScoreHealth
-0.142/10

Distress zone — elevated risk

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 : HDB

The strongest argument for HDB centers on Operating Margin, Market Cap, Profit Margin. Profitability is solid with margins at 26.2% and operating margin at 34.8%. Revenue growth of 26.4% demonstrates continued momentum.

Bear Case : FSBW

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

Bear Case : HDB

The primary concerns for HDB are Debt/Equity, Piotroski F-Score, Altman Z-Score.

Key Dynamics to Monitor

FSBW profiles as a mature stock while HDB is a growth play — different risk/reward profiles.

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

HDB is growing revenue faster at 26.4% — sustainability is the question.

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

Bottom Line

HDB scores higher overall (78/100 vs 68/100), backed by strong 26.2% margins and 26.4% 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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HDFC Bank Limited ADR

FINANCIAL SERVICES · BANKS - REGIONAL · USA

HDFC Bank Limited offers various banking and financial services to individuals and businesses in India, Bahrain, Hong Kong and Dubai. The company is headquartered in Mumbai, India.

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