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United Bankshares (UBSI) Financials

United Bankshares logo
$35.77 +0.74 (+2.11%)
Closing price 04:00 PM Eastern
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$35.78 +0.01 (+0.04%)
As of 04:10 PM Eastern
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Annual Income Statements for United Bankshares

Annual Income Statements for United Bankshares

This table shows United Bankshares' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 138 147 151 256 260 289 368 380 366 373
Consolidated Net Income / (Loss)		 138 147 151 256 260 289 368 380 366 373
Net Income / (Loss) Continuing Operations		 138 147 151 256 260 289 368 380 366 373
Total Pre-Tax Income 		203 223 285 327 324 360 463 476 464 465
Total Revenue		 458 495 681 717 728 1,045 1,021 1,050 1,055 1,035
Net Interest Income / (Expense)		 384 425 549 589 578 690 743 896 920 911
Total Interest Income		 424 470 624 718 763 798 795 1,002 1,401 1,502
Loans and Leases Interest Income		 388 431 566 637 667 722 724 865 1,203 1,303
Investment Securities Interest Income		 34 36 42 62 74 67 62 114 151 133
Federal Funds Sold and Securities Borrowed Interest Income		 1.65 3.50 16 19 21 9.78 8.73 23 47 66
Total Interest Expense		 40 45 75 129 185 109 52 106 481 591
Deposits Interest Expense		 28 29 50 92 136 79 42 80 391 540
Short-Term Borrowings Interest Expense		 0.83 1.58 1.58 2.25 2.35 1.03 0.69 1.79 6.45 7.97
Long-Term Debt Interest Expense		 11 14 24 35 47 29 10 24 84 43
Total Non-Interest Income		 74 70 132 129 150 355 278 153 135 124
Other Service Charges		 49 1.34 2.04 1.77 1.33 8.92 18 17 25 17
Net Realized & Unrealized Capital Gains on Investments		 0.16 0.28 5.58 0.15 0.18 5.38 2.68 0.78 -7.65 -7.72
Other Non-Interest Income		 5.56 68 124 127 149 340 258 136 118 115
Provision for Credit Losses		 23 25 28 22 21 107 -24 19 31 25
Total Non-Interest Expense		 232 248 367 368 383 578 582 555 560 545
Salaries and Employee Benefits		 115 122 201 201 210 324 334 288 279 288
Net Occupancy & Equipment Expense		 48 51 71 74 71 98 99 104 106 105
Property & Liability Insurance Claims		 8.37 8.55 7.05 11 8.07 10 8.35 12 30 20
Other Operating Expenses		 60 66 88 82 93 136 128 143 140 129
Impairment Charge		 0.05 - - 0.27 0.42 9.43 12 7.10 5.60 2.69
Other Special Charges		 - - - - - 1.97 0.05 0.70 -0.06 -0.08
Income Tax Expense		 66 76 134 71 64 71 95 96 97 92
Basic Earnings per Share		 $1.99 $2.00 $1.54 $2.46 $2.55 $2.40 $2.84 $2.81 $2.72 $2.76
Weighted Average Basic Shares Outstanding		 69.33M 73.53M 97.50M 104.02M 101.59M 120.02M 129.28M 134.78M 134.51M 134.95M
Diluted Earnings per Share		 $1.98 $1.99 $1.54 $2.45 $2.55 $2.40 $2.83 $2.80 $2.71 $2.75
Weighted Average Diluted Shares Outstanding		 69.63M 73.89M 97.89M 104.30M 101.85M 120.09M 129.51M 135.12M 134.75M 135.23M
Weighted Average Basic & Diluted Shares Outstanding		 69.30M 73.50M 97.80M 104.20M 101.57M 128.98M 136.52M 134.75M 134.95M 143.21M
Cash Dividends to Common per Share		 $1.29 $1.32 $1.33 $1.36 $1.37 $1.40 $1.41 $1.44 $1.45 $1.48

Quarterly Income Statements for United Bankshares

This table shows United Bankshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 100 102 98 100 96 72 87 97 102 88
Consolidated Net Income / (Loss)		 103 100 98 92 96 79 87 97 95 94
Net Income / (Loss) Continuing Operations		 100 102 98 100 96 72 87 97 102 88
Total Pre-Tax Income 		129 126 123 116 121 104 108 115 120 121
Total Revenue		 271 283 268 270 262 255 255 256 269 255
Net Interest Income / (Expense)		 241 249 234 227 228 230 222 226 230 233
Total Interest Income		 264 308 329 346 357 369 369 374 383 376
Loans and Leases Interest Income		 226 262 280 294 308 321 321 326 332 324
Investment Securities Interest Income		 31 37 38 39 37 37 36 35 32 30
Federal Funds Sold and Securities Borrowed Interest Income		 6.83 8.95 11 13 12 12 12 13 19 22
Total Interest Expense		 23 58 95 118 128 139 147 148 152 143
Deposits Interest Expense		 18 44 69 92 109 122 128 132 143 136
Short-Term Borrowings Interest Expense		 0.49 0.87 1.16 1.49 1.81 2.00 2.08 2.21 2.05 1.63
Long-Term Debt Interest Expense		 4.91 13 25 25 18 15 16 14 7.11 6.11
Total Non-Interest Income		 33 31 33 35 34 34 32 30 32 29
Other Service Charges		 0.79 7.71 3.69 12 2.97 5.98 2.98 2.74 9.03 1.94
Other Non-Interest Income		 29 26 29 30 31 27 29 28 30 28
Provision for Credit Losses		 7.67 16 6.89 11 5.95 6.88 5.74 5.78 6.94 6.69
Total Non-Interest Expense		 137 138 137 135 135 152 141 135 135 134
Salaries and Employee Benefits		 70 68 69 71 72 68 74 71 72 72
Net Occupancy & Equipment Expense		 27 26 26 27 26 26 27 26 27 26
Property & Liability Insurance Claims		 3.06 3.25 4.59 4.57 4.60 17 6.46 5.06 4.34 3.88
Other Operating Expenses		 35 38 36 32 31 41 33 32 33 32
Impairment Charge		 1.85 - 1.88 1.70 1.05 0.96 1.02 1.01 0.40 0.27
Other Special Charges		 0.13 1.06 -0.04 0.02 0.09 -0.13 -0.08 0.03 -0.03 0.01
Income Tax Expense		 26 27 24 23 25 25 21 19 25 27
Basic Earnings per Share		 $0.76 $0.74 $0.73 $0.68 $0.71 $0.60 $0.64 $0.71 $0.70 $0.71
Weighted Average Basic Shares Outstanding		 134.18M 134.78M 134.41M 134.68M 134.69M 134.51M 134.81M 135.14M 135.16M 134.95M
Diluted Earnings per Share		 $0.76 $0.73 $0.73 $0.68 $0.71 $0.59 $0.64 $0.71 $0.70 $0.70
Weighted Average Diluted Shares Outstanding		 134.55M 135.12M 134.84M 134.85M 134.89M 134.75M 135.12M 135.31M 135.50M 135.23M
Weighted Average Basic & Diluted Shares Outstanding		 134.66M 134.75M 134.93M 134.94M 134.93M 134.95M 135.20M 135.22M 135.22M 143.21M

Annual Cash Flow Statements for United Bankshares

This table details how cash moves in and out of United Bankshares' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 104 577 232 -646 -183 1,372 1,549 -2,582 422 693
Net Cash From Operating Activities		 175 171 254 294 152 140 610 761 435 445
Net Cash From Continuing Operating Activities		 175 171 254 294 152 140 610 761 435 445
Net Income / (Loss) Continuing Operations		 138 147 151 256 260 289 368 380 366 373
Consolidated Net Income / (Loss)		 138 147 151 256 260 289 368 380 366 373
Provision For Loan Losses		 23 25 28 22 21 107 -24 19 31 25
Depreciation Expense		 0.75 -8.72 -22 10 9.33 13 17 18 17 16
Amortization Expense		 4.38 5.16 3.31 -27 -22 -17 4.05 19 21 9.96
Non-Cash Adjustments to Reconcile Net Income		 -0.42 17 73 19 -116 -291 213 294 0.79 7.98
Changes in Operating Assets and Liabilities, net		 9.66 -15 20 13 -0.86 39 32 31 -1.36 14
Net Cash From Investing Activities		 -185 31 267 -873 -383 138 16 -3,448 39 571
Net Cash From Continuing Investing Activities		 -185 31 267 -873 -383 138 16 -3,448 39 571
Purchase of Property, Leasehold Improvements and Equipment		 -5.26 -7.27 -14 -5.78 -11 -19 -15 -17 -12 -12
Purchase of Investment Securities		 -405 -565 -467 -1,367 -902 -1,356 -723 -4,042 -1,089 -2,518
Sale of Property, Leasehold Improvements and Equipment		 0.87 0.55 0.02 8.40 0.25 4.35 1.62 0.90 2.54 0.10
Sale and/or Maturity of Investments		 224 603 748 491 529 1,508 752 610 1,137 3,102
Net Cash From Financing Activities		 115 375 -289 -67 48 1,094 924 105 -52 -324
Net Cash From Continuing Financing Activities		 115 375 -289 -67 48 1,094 924 105 -52 -324
Net Change in Deposits		 298 484 -314 165 -142 2,856 1,249 -1,044 517 1,143
Issuance of Debt		 705 795 815 950 1,498 500 500 1,900 1,500 250
Repayment of Debt		 -807 -1,020 -673 -931 -1,135 -2,079 -638 -488 -1,875 -1,520
Repurchase of Common Equity		 0.00 0.00 -0.00 -101 -36 -21 -11 -79 -1.38 -1.04
Payment of Dividends		 -89 -96 -121 -142 -139 -163 -181 -193 -195 -201
Other Financing Activities, Net		 7.87 13 4.62 1.50 1.27 1.24 5.21 10 1.75 5.27
Cash Interest Paid		 40 45 73 125 183 115 55 98 468 591
Cash Income Taxes Paid		 52 62 73 55 56 65 101 94 106 92

Quarterly Cash Flow Statements for United Bankshares

This table details how cash moves in and out of United Bankshares' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -302 -180 742 -226 -508 415 134 126 50 383
Net Cash From Operating Activities		 134 137 118 65 90 163 124 61 124 136
Net Cash From Continuing Operating Activities		 - 761 0.00 - - 435 0.00 - - 445
Net Income / (Loss) Continuing Operations		 - 380 0.00 - - 366 0.00 - - 373
Net Cash From Investing Activities		 -740 -629 91 265 -68 -250 -2.43 223 185 166
Net Cash From Continuing Investing Activities		 -740 -629 91 265 -68 -250 -2.43 223 185 166
Purchase of Property, Leasehold Improvements and Equipment		 -5.73 -5.01 -3.45 -3.28 -1.76 -3.21 -4.77 -2.97 -1.59 -2.80
Purchase of Investment Securities		 -891 -759 -115 -302 168 -839 -461 -638 -710 -708
Sale of Property, Leasehold Improvements and Equipment		 0.05 0.01 2.47 - 0.04 0.03 0.06 0.03 0.00 0.00
Sale and/or Maturity of Investments		 157 135 208 570 -234 593 464 864 898 877
Net Cash From Financing Activities		 305 312 532 -556 -530 502 12 -158 -259 81
Net Cash From Continuing Financing Activities		 305 312 532 -556 -530 502 12 -158 -259 81
Net Change in Deposits		 -163 -560 -18 85 307 143 101 147 762 134
Repayment of Debt		 14 -482 -1,901 6.65 -16 35 -1,488 -4.21 -22 -5.88
Payment of Dividends		 -49 -49 -49 -49 -49 -49 -50 -50 -50 -50
Other Financing Activities, Net		 1.54 2.38 1.56 0.00 0.01 0.17 0.70 0.12 0.71 3.74

Annual Balance Sheets for United Bankshares

This table presents United Bankshares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 12,578 14,509 19,059 19,250 19,662 26,184 29,329 29,489 29,926 30,024
Cash and Due from Banks		 137 175 197 188 185 297 283 294 257 241
Federal Funds Sold		 0.72 0.73 0.79 0.80 0.82 0.82 0.93 1.08 1.17 1.27
Interest Bearing Deposits at Other Banks		 720 1,258 1,469 832 651 1,911 3,474 881 1,341 2,050
Trading Account Securities		 1,116 1,301 2,175 2,607 2,835 3,684 4,561 4,607 3,853 3,026
Loans and Leases, Net of Allowance		 9,308 10,268 12,935 13,353 13,635 17,356 17,808 20,323 21,100 21,402
Loans and Leases		 9,384 10,341 13,011 13,430 13,712 17,591 18,024 20,558 21,359 21,673
Allowance for Loan and Lease Losses		 76 73 77 77 77 236 216 235 259 272
Premises and Equipment, Net		 73 76 105 95 97 176 197 199 191 186
Goodwill		 710 864 1,478 1,478 1,478 1,797 1,886 1,889 1,889 1,889
Other Assets		 513 565 700 695 780 963 1,119 1,294 1,296 1,228
Total Liabilities & Shareholders' Equity		 12,578 14,509 19,059 19,250 19,662 26,184 29,329 29,489 29,926 30,024
Total Liabilities		 10,865 12,273 15,818 15,999 16,298 21,887 24,610 24,973 25,155 25,030
Non-Interest Bearing Deposits		 2,700 3,172 4,295 4,417 4,621 7,405 7,497 7,200 6,149 6,135
Interest Bearing Deposits		 6,642 7,625 9,536 9,578 9,231 13,180 15,854 15,103 16,670 17,826
Short-Term Debt		 342 237 311 153 125 142 129 161 196 176
Long-Term Debt		 1,074 1,122 1,514 1,674 2,088 864 817 2,198 1,789 540
Other Long-Term Liabilities		 86 95 146 152 233 295 314 312 351 352
Total Equity & Noncontrolling Interests		 1,713 2,236 3,241 3,252 3,364 4,298 4,719 4,516 4,771 4,993
Total Preferred & Common Equity		 1,713 2,236 3,241 3,252 3,364 4,298 4,719 4,516 4,771 4,993
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,713 2,236 3,241 3,252 3,364 4,298 4,719 4,516 4,771 4,993
Common Stock		 927 1,408 2,392 2,398 2,404 3,229 3,503 3,524 3,537 3,553
Retained Earnings		 825 873 892 1,013 1,133 1,205 1,391 1,575 1,746 1,918
Treasury Stock		 -0.82 -0.98 -1.01 -102 -138 -159 -171 -250 -252 -253
Accumulated Other Comprehensive Income / (Loss)		 -38 -45 -42 -57 -35 22 -4.89 -333 -260 -224

Quarterly Balance Sheets for United Bankshares

This table presents United Bankshares' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 29,048 30,182 29,695 29,225 30,029 29,957 29,863
Cash and Due from Banks		 322 310 304 270 238 241 278
Federal Funds Sold		 1.07 1.11 1.12 1.16 1.19 1.21 1.25
Interest Bearing Deposits at Other Banks		 1,033 1,608 1,387 913 1,493 1,616 1,630
Trading Account Securities		 4,866 4,496 4,106 3,819 3,668 3,394 3,296
Loans and Leases, Net of Allowance		 19,480 20,372 20,514 20,843 21,257 21,331 21,351
Loans and Leases		 19,700 20,612 20,764 21,098 21,520 21,599 21,622
Allowance for Loan and Lease Losses		 220 240 251 255 263 267 271
Premises and Equipment, Net		 199 196 194 192 191 190 187
Goodwill		 1,889 1,889 1,889 1,889 1,889 1,889 1,889
Other Assets		 1,258 1,311 1,299 1,299 1,291 1,294 1,231
Total Liabilities & Shareholders' Equity		 29,048 30,182 29,695 29,225 30,029 29,957 29,863
Total Liabilities		 24,608 25,576 25,058 24,576 25,221 25,101 24,895
Non-Interest Bearing Deposits		 7,619 6,708 6,451 6,253 6,017 5,932 6,038
Interest Bearing Deposits		 15,245 15,577 15,919 16,424 16,902 17,135 17,790
Short-Term Debt		 142 170 177 188 208 204 182
Long-Term Debt		 1,297 2,788 2,188 1,389 1,739 1,490 540
Other Long-Term Liabilities		 305 333 323 322 354 341 345
Total Equity & Noncontrolling Interests		 4,440 4,607 4,637 4,649 4,807 4,857 4,968
Total Preferred & Common Equity		 4,440 4,607 4,637 4,649 4,807 4,857 4,968
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 4,440 4,607 4,637 4,649 4,807 4,857 4,968
Common Stock		 3,519 3,527 3,531 3,534 3,540 3,543 3,547
Retained Earnings		 1,524 1,625 1,669 1,716 1,782 1,829 1,874
Treasury Stock		 -250 -252 -252 -252 -253 -253 -253
Accumulated Other Comprehensive Income / (Loss)		 -352 -294 -311 -349 -261 -261 -199

Annual Metrics And Ratios for United Bankshares

This table displays calculated financial ratios and metrics derived from United Bankshares' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.24% 8.22% 37.40% 5.39% 1.54% 43.40% -2.27% 2.82% 0.52% -1.94%
EBITDA Growth		 5.95% 5.02% 21.67% 16.36% 0.56% 14.22% 35.71% 6.11% -2.12% -2.37%
EBIT Growth		 4.41% 9.42% 27.92% 14.86% -0.83% 10.88% 28.66% 2.79% -2.52% 0.17%
NOPAT Growth		 6.21% 6.61% 2.38% 70.24% 1.47% 11.12% 27.23% 3.23% -3.51% 1.82%
Net Income Growth		 6.21% 6.61% 2.38% 70.24% 1.47% 11.12% 27.23% 3.23% -3.51% 1.82%
EPS Growth		 3.13% 0.51% -22.61% 59.09% 4.08% -5.88% 17.92% -1.06% -3.21% 1.48%
Operating Cash Flow Growth		 14.64% -2.38% 48.73% 15.79% -48.32% -7.58% 334.00% 24.82% -42.79% 2.35%
Free Cash Flow Firm Growth		 115.37% -309.31% -313.43% 118.45% -197.63% 336.05% -98.72% -11,691.31% 158.36% 193.07%
Invested Capital Growth		 -0.46% 14.91% 40.91% 0.25% 9.80% -4.88% 6.80% 21.35% -1.72% -15.49%
Revenue Q/Q Growth		 -1.01% 3.04% 9.27% -1.52% 0.27% 12.01% -4.92% 4.50% -2.56% 0.00%
EBITDA Q/Q Growth		 2.87% 3.63% 1.92% -6.67% -5.02% 12.09% -0.76% 16.56% 1.09% 9.85%
EBIT Q/Q Growth		 0.35% 5.32% 8.90% -1.55% -1.20% 13.18% -4.99% 8.10% -6.63% 4.10%
NOPAT Q/Q Growth		 0.16% 3.98% -12.31% 21.85% -0.26% 11.19% -4.79% 7.33% -5.27% 4.20%
Net Income Q/Q Growth		 0.16% 3.98% -12.31% 21.85% -0.26% 11.19% -4.79% 7.33% -5.27% 4.20%
EPS Q/Q Growth		 0.00% 1.53% -18.95% 23.12% 0.39% 6.19% -6.60% 6.46% -4.91% 4.17%
Operating Cash Flow Q/Q Growth		 11.38% 0.18% -14.18% -15.40% -8.58% 796.17% -17.52% 11.87% 6.23% -5.57%
Free Cash Flow Firm Q/Q Growth		 -64.44% 42.46% -2.62% -35.99% -14.52% 79.85% -98.01% -423.62% 1,092.10% 58.80%
Invested Capital Q/Q Growth		 6.43% -1.13% -0.56% 3.14% 3.41% -0.68% 5.54% 16.92% 8.52% 0.35%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 45.57% 44.23% 39.16% 43.24% 42.82% 34.11% 47.36% 48.87% 47.59% 47.38%
EBIT Margin		 44.45% 44.95% 41.85% 45.61% 44.54% 34.44% 45.34% 45.33% 43.96% 44.90%
Profit (Net Income) Margin		 30.14% 29.69% 22.12% 35.73% 35.71% 27.67% 36.02% 36.17% 34.72% 36.05%
Tax Burden Percent		 67.80% 66.06% 52.87% 78.35% 80.17% 80.34% 79.45% 79.79% 78.98% 80.29%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 32.20% 33.94% 47.13% 21.65% 19.83% 19.66% 20.55% 20.21% 21.02% 19.71%
Return on Invested Capital (ROIC)		 4.40% 4.38% 3.48% 5.05% 4.88% 5.31% 6.70% 6.05% 5.37% 5.98%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.40% 4.38% 3.48% 5.05% 4.88% 5.31% 6.70% 6.05% 5.37% 5.98%
Return on Net Nonoperating Assets (RNNOA)		 3.79% 3.08% 2.02% 2.84% 2.98% 2.23% 1.45% 2.17% 2.51% 1.66%
Return on Equity (ROE)		 8.19% 7.45% 5.50% 7.90% 7.86% 7.54% 8.16% 8.22% 7.89% 7.64%
Cash Return on Invested Capital (CROIC)		 4.86% -9.50% -30.49% 4.80% -4.46% 10.32% 0.13% -13.24% 7.11% 22.78%
Operating Return on Assets (OROA)		 1.63% 1.64% 1.70% 1.71% 1.67% 1.57% 1.67% 1.62% 1.56% 1.55%
Return on Assets (ROA)		 1.11% 1.09% 0.90% 1.34% 1.34% 1.26% 1.32% 1.29% 1.23% 1.24%
Return on Common Equity (ROCE)		 8.19% 7.45% 5.50% 7.90% 7.86% 7.54% 8.16% 8.22% 7.89% 7.64%
Return on Equity Simple (ROE_SIMPLE)		 8.06% 6.58% 4.65% 7.88% 7.73% 6.73% 7.79% 8.41% 7.68% 7.47%
Net Operating Profit after Tax (NOPAT)		 138 147 151 256 260 289 368 380 366 373
NOPAT Margin		 30.14% 29.69% 22.12% 35.73% 35.71% 27.67% 36.02% 36.17% 34.72% 36.05%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 35.70% 35.06% 39.96% 38.30% 38.58% 40.32% 42.44% 37.42% 36.46% 38.04%
Operating Expenses to Revenue		 50.61% 50.10% 53.98% 51.32% 52.53% 55.36% 57.01% 52.88% 53.09% 52.67%
Earnings before Interest and Taxes (EBIT)		 203 223 285 327 324 360 463 476 464 465
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 209 219 267 310 312 356 483 513 502 490
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.07 1.17 0.86 0.78 0.96 0.85 0.89 1.11 1.02 1.02
Price to Tangible Book Value (P/TBV)		 1.83 1.90 1.58 1.44 1.71 1.46 1.49 1.91 1.69 1.64
Price to Revenue (P/Rev)		 4.01 5.26 4.10 3.55 4.43 3.49 4.14 4.77 4.61 4.91
Price to Earnings (P/E)		 13.31 17.73 18.52 9.93 12.42 12.61 11.48 13.19 13.27 13.61
Dividend Yield		 4.89% 3.87% 5.01% 5.51% 4.31% 4.98% 5.39% 3.87% 4.03% 3.94%
Earnings Yield		 7.51% 5.64% 5.40% 10.07% 8.05% 7.93% 8.71% 7.58% 7.54% 7.35%
Enterprise Value to Invested Capital (EV/IC)		 0.77 0.70 0.58 0.66 0.83 0.46 0.25 0.90 0.78 0.61
Enterprise Value to Revenue (EV/Rev)		 5.23 5.11 4.33 4.67 6.32 2.34 1.38 5.90 4.97 3.38
Enterprise Value to EBITDA (EV/EBITDA)		 11.48 11.56 11.06 10.81 14.76 6.85 2.92 12.07 10.45 7.14
Enterprise Value to EBIT (EV/EBIT)		 11.77 11.38 10.35 10.25 14.19 6.79 3.05 13.01 11.31 7.54
Enterprise Value to NOPAT (EV/NOPAT)		 17.36 17.22 19.58 13.08 17.70 8.45 3.83 16.31 14.32 9.39
Enterprise Value to Operating Cash Flow (EV/OCF)		 13.69 14.84 11.61 11.40 30.30 17.39 2.31 8.14 12.05 7.86
Enterprise Value to Free Cash Flow (EV/FCFF)		 15.70 0.00 0.00 13.77 0.00 4.35 196.83 0.00 10.83 2.47
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.83 0.61 0.56 0.56 0.66 0.23 0.20 0.52 0.42 0.14
Long-Term Debt to Equity		 0.63 0.50 0.47 0.51 0.62 0.20 0.17 0.49 0.38 0.11
Financial Leverage		 0.86 0.70 0.58 0.56 0.61 0.42 0.22 0.36 0.47 0.28
Leverage Ratio		 7.39 6.86 6.13 5.90 5.88 5.98 6.16 6.37 6.40 6.14
Compound Leverage Factor		 7.39 6.86 6.13 5.90 5.88 5.98 6.16 6.37 6.40 6.14
Debt to Total Capital		 45.26% 37.81% 36.03% 35.97% 39.68% 18.98% 16.70% 34.31% 29.38% 12.55%
Short-Term Debt to Total Capital		 10.92% 6.60% 6.15% 3.01% 2.24% 2.68% 2.27% 2.34% 2.90% 3.08%
Long-Term Debt to Total Capital		 34.34% 31.21% 29.89% 32.96% 37.44% 16.30% 14.43% 31.97% 26.48% 9.46%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 54.74% 62.19% 63.97% 64.03% 60.32% 81.02% 83.30% 65.69% 70.62% 87.45%
Debt to EBITDA		 6.79 6.20 6.85 5.89 7.09 2.83 1.96 4.60 3.95 1.46
Net Debt to EBITDA		 2.68 -0.34 0.60 2.60 4.41 -3.38 -5.82 2.30 0.77 -3.21
Long-Term Debt to EBITDA		 5.15 5.12 5.68 5.40 6.69 2.43 1.69 4.28 3.56 1.10
Debt to NOPAT		 10.26 9.24 12.12 7.13 8.51 3.48 2.57 6.21 5.42 1.92
Net Debt to NOPAT		 4.05 -0.51 1.06 3.15 5.29 -4.16 -7.65 3.11 1.05 -4.22
Long-Term Debt to NOPAT		 7.79 7.63 10.05 6.53 8.03 2.99 2.22 5.79 4.88 1.45
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 153 -319 -1,320 244 -238 561 7.16 -830 484 1,420
Operating Cash Flow to CapEx		 3,977.73% 2,541.82% 1,770.77% 0.00% 1,402.93% 957.31% 4,429.15% 4,767.06% 4,759.29% 3,703.78%
Free Cash Flow to Firm to Interest Expense		 3.86 -7.09 -17.65 1.89 -1.29 5.17 0.14 -7.86 1.01 2.40
Operating Cash Flow to Interest Expense		 4.43 3.79 3.39 2.28 0.82 1.29 11.64 7.21 0.90 0.75
Operating Cash Flow Less CapEx to Interest Expense		 4.32 3.64 3.20 2.30 0.76 1.16 11.37 7.06 0.89 0.73
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.05 0.04 0.04 0.04 0.03
Fixed Asset Turnover		 6.08 6.65 7.53 7.17 7.59 7.67 5.47 5.30 5.42 5.49
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 3,129 3,595 5,066 5,079 5,577 5,304 5,665 6,875 6,756 5,710
Invested Capital Turnover		 0.15 0.15 0.16 0.14 0.14 0.19 0.19 0.17 0.15 0.17
Increase / (Decrease) in Invested Capital		 -15 466 1,471 13 498 -272 361 1,210 -118 -1,047
Enterprise Value (EV)		 2,395 2,533 2,948 3,353 4,604 2,442 1,410 6,191 5,246 3,502
Market Capitalization		 1,836 2,608 2,789 2,547 3,229 3,644 4,221 5,009 4,860 5,078
Book Value per Share		 $24.62 $29.24 $30.86 $31.51 $33.13 $33.12 $36.52 $33.54 $35.36 $36.93
Tangible Book Value per Share		 $14.41 $17.95 $16.78 $17.19 $18.57 $19.27 $21.92 $19.51 $21.36 $22.96
Total Capital		 3,129 3,595 5,066 5,079 5,577 5,304 5,665 6,875 6,756 5,710
Total Debt		 1,416 1,359 1,825 1,827 2,213 1,007 946 2,358 1,985 717
Total Long-Term Debt		 1,074 1,122 1,514 1,674 2,088 864 817 2,198 1,789 540
Net Debt		 559 -75 159 807 1,375 -1,202 -2,812 1,182 386 -1,576
Capital Expenditures (CapEx)		 4.40 6.72 14 -2.62 11 15 14 16 9.15 12
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 1,416 1,359 1,825 1,827 2,213 1,007 946 2,358 1,985 717
Total Depreciation and Amortization (D&A)		 5.13 -3.56 -18 -17 -13 -3.48 21 37 38 26
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.99 $2.00 $1.54 $2.46 $2.55 $2.40 $2.84 $2.81 $2.72 $2.76
Adjusted Weighted Average Basic Shares Outstanding		 69.33M 73.53M 97.50M 104.02M 101.59M 120.02M 129.28M 134.78M 134.51M 134.95M
Adjusted Diluted Earnings per Share		 $1.98 $1.99 $1.54 $2.45 $2.55 $2.40 $2.83 $2.80 $2.71 $2.75
Adjusted Weighted Average Diluted Shares Outstanding		 69.63M 73.89M 97.89M 104.30M 101.85M 120.09M 129.51M 135.12M 134.75M 135.23M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 69.63M 81.05M 105.04M 102.10M 101.57M 128.98M 136.52M 134.75M 134.95M 143.21M
Normalized Net Operating Profit after Tax (NOPAT)		 138 147 151 257 260 298 378 386 371 375
Normalized NOPAT Margin		 30.15% 29.69% 22.12% 35.76% 35.75% 28.55% 36.98% 36.76% 35.13% 36.25%
Pre Tax Income Margin		 44.45% 44.95% 41.85% 45.61% 44.54% 34.44% 45.34% 45.33% 43.96% 44.90%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 5.15 4.95 3.81 2.53 1.76 3.31 8.84 4.51 0.96 0.79
NOPAT to Interest Expense		 3.49 3.27 2.01 1.99 1.41 2.66 7.02 3.60 0.76 0.63
EBIT Less CapEx to Interest Expense		 5.04 4.80 3.62 2.56 1.70 3.18 8.57 4.36 0.94 0.77
NOPAT Less CapEx to Interest Expense		 3.38 3.12 1.82 2.01 1.35 2.53 6.76 3.45 0.74 0.61
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 64.41% 65.51% 80.59% 55.53% 53.42% 56.30% 49.30% 50.85% 53.16% 53.81%
Augmented Payout Ratio		 64.41% 65.51% 80.59% 94.82% 67.13% 63.67% 52.34% 71.78% 53.54% 54.09%

Quarterly Metrics And Ratios for United Bankshares

This table displays calculated financial ratios and metrics derived from United Bankshares' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 8.21% 19.00% 12.78% 4.43% -3.19% -9.79% -4.92% -5.20% 2.59% 0.00%
EBITDA Growth		 8.75% 38.19% 21.43% 3.44% -3.93% -25.53% -12.42% -6.38% 4.71% 19.04%
EBIT Growth		 8.75% 38.19% 21.43% 3.44% -3.93% -25.53% -12.42% -6.38% 4.71% 19.04%
NOPAT Growth		 11.32% 35.09% 20.38% -3.30% -6.27% -20.42% -11.69% 4.38% -0.93% 18.92%
Net Income Growth		 11.32% 35.09% 20.38% -3.30% -6.27% -20.42% -11.69% 4.38% -0.93% 18.92%
EPS Growth		 7.04% 30.36% 21.67% -4.23% -6.58% -19.18% -12.33% 4.41% -1.41% 18.64%
Operating Cash Flow Growth		 -33.53% 143.24% -58.34% -68.54% -33.03% 18.63% 5.26% -5.78% 38.01% -16.17%
Free Cash Flow Firm Growth		 -730.34% -287.10% -995.89% -8,048.56% 39.00% 117.79% 146.77% 136.65% 352.63% 477.78%
Invested Capital Growth		 9.54% 21.35% 36.33% 29.38% 5.89% -1.72% -10.71% -6.46% -8.61% -15.49%
Revenue Q/Q Growth		 4.74% 4.49% -5.31% 0.78% -2.91% -2.63% -1.70% 0.49% 5.07% -5.10%
EBITDA Q/Q Growth		 5.66% 2.47% -4.21% -0.26% -1.88% -20.57% 8.28% 6.62% 9.75% -9.70%
EBIT Q/Q Growth		 5.66% 2.47% -4.21% -0.26% -1.88% -20.57% 8.28% 6.62% 9.75% -9.70%
NOPAT Q/Q Growth		 7.29% -2.75% -1.46% -5.95% 4.00% -17.44% 9.35% 11.17% -1.28% -0.90%
Net Income Q/Q Growth		 7.29% -2.75% -1.46% -5.95% 4.00% -17.44% 9.35% 11.17% -1.28% -0.90%
EPS Q/Q Growth		 7.04% -3.95% 0.00% -6.85% 4.41% -16.90% 8.47% 10.94% -1.41% 0.00%
Operating Cash Flow Q/Q Growth		 -35.20% 2.46% -13.79% -45.04% 37.93% 81.51% -23.50% -50.80% 102.04% 10.24%
Free Cash Flow Firm Q/Q Growth		 -2,274.36% -170.94% -72.78% 21.91% 83.31% 179.03% 354.15% -38.81% 15.03% 80.75%
Invested Capital Q/Q Growth		 8.64% 16.92% 10.04% -7.44% -11.09% 8.52% -0.03% -3.03% -13.13% 0.35%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 46.49% 45.60% 46.13% 45.65% 46.14% 37.64% 42.49% 45.08% 47.09% 44.80%
EBIT Margin		 46.49% 45.60% 46.13% 45.65% 46.14% 37.64% 42.49% 45.08% 47.09% 44.80%
Profit (Net Income) Margin		 37.89% 35.27% 36.70% 34.25% 36.69% 31.11% 34.08% 37.71% 35.43% 36.99%
Tax Burden Percent		 79.83% 78.94% 80.08% 79.77% 79.51% 76.19% 80.22% 83.64% 79.44% 77.99%
Interest Burden Percent		 102.08% 97.97% 99.34% 94.05% 100.00% 108.48% 100.00% 100.00% 94.70% 105.87%
Effective Tax Rate		 20.17% 21.06% 19.92% 20.23% 20.49% 23.81% 19.78% 16.36% 20.56% 22.01%
Return on Invested Capital (ROIC)		 6.77% 5.90% 6.05% 6.02% 6.56% 4.82% 4.96% 5.72% 6.15% 6.14%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.77% 5.90% 6.05% 6.02% 6.56% 4.82% 4.96% 5.72% 6.15% 6.14%
Return on Net Nonoperating Assets (RNNOA)		 1.81% 2.11% 2.57% 2.17% 2.18% 2.25% 2.58% 2.45% 1.47% 1.70%
Return on Equity (ROE)		 8.58% 8.02% 8.62% 8.19% 8.74% 7.07% 7.55% 8.17% 7.62% 7.84%
Cash Return on Invested Capital (CROIC)		 -2.82% -13.24% -24.70% -19.28% 0.67% 7.11% 16.27% 11.97% 15.01% 22.78%
Operating Return on Assets (OROA)		 1.65% 1.63% 1.67% 1.70% 1.71% 1.34% 1.47% 1.55% 1.65% 1.55%
Return on Assets (ROA)		 1.35% 1.26% 1.33% 1.28% 1.36% 1.10% 1.18% 1.30% 1.24% 1.28%
Return on Common Equity (ROCE)		 8.58% 8.02% 8.62% 8.19% 8.74% 7.07% 7.55% 8.17% 7.62% 7.84%
Return on Equity Simple (ROE_SIMPLE)		 7.97% 0.00% 8.60% 8.48% 8.32% 0.00% 7.38% 7.39% 7.21% 0.00%
Net Operating Profit after Tax (NOPAT)		 103 100 98 92 96 79 87 97 95 94
NOPAT Margin		 37.89% 35.27% 36.70% 34.25% 36.69% 31.11% 34.08% 37.71% 35.43% 36.99%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 35.85% 33.09% 35.52% 36.09% 37.41% 36.87% 39.51% 37.86% 36.48% 38.42%
Operating Expenses to Revenue		 50.67% 48.62% 51.30% 50.11% 51.59% 59.67% 55.26% 52.66% 50.33% 52.57%
Earnings before Interest and Taxes (EBIT)		 126 129 124 123 121 96 108 115 127 114
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 126 129 124 123 121 96 108 115 127 114
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.01 1.11 0.97 0.82 0.77 1.02 0.99 0.90 1.01 1.02
Price to Tangible Book Value (P/TBV)		 1.75 1.91 1.65 1.39 1.29 1.69 1.64 1.48 1.63 1.64
Price to Revenue (P/Rev)		 4.45 4.77 4.15 3.50 3.29 4.61 4.58 4.27 4.85 4.91
Price to Earnings (P/E)		 12.72 13.19 11.31 9.55 8.99 13.27 13.45 12.48 14.04 13.61
Dividend Yield		 4.34% 3.87% 4.33% 5.08% 5.45% 4.03% 4.13% 4.53% 3.99% 3.94%
Earnings Yield		 7.86% 7.58% 8.84% 10.47% 11.13% 7.54% 7.43% 8.02% 7.12% 7.35%
Enterprise Value to Invested Capital (EV/IC)		 0.77 0.90 0.73 0.64 0.64 0.78 0.74 0.64 0.67 0.61
Enterprise Value to Revenue (EV/Rev)		 4.53 5.90 5.11 4.12 3.66 4.97 4.79 4.11 3.70 3.38
Enterprise Value to EBITDA (EV/EBITDA)		 10.34 12.07 11.10 8.97 7.97 10.45 11.12 9.58 8.58 7.14
Enterprise Value to EBIT (EV/EBIT)		 10.34 13.01 11.10 8.97 7.97 11.31 11.12 9.58 8.58 7.54
Enterprise Value to NOPAT (EV/NOPAT)		 12.86 16.31 13.94 11.44 10.24 14.32 14.06 11.76 10.70 9.39
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.69 8.14 9.28 9.91 9.66 12.05 11.30 9.64 8.12 7.86
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 97.40 10.83 4.28 5.20 4.28 2.47
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.32 0.52 0.64 0.51 0.34 0.42 0.41 0.35 0.15 0.14
Long-Term Debt to Equity		 0.29 0.49 0.61 0.47 0.30 0.38 0.36 0.31 0.11 0.11
Financial Leverage		 0.27 0.36 0.43 0.36 0.33 0.47 0.52 0.43 0.24 0.28
Leverage Ratio		 6.38 6.37 6.47 6.41 6.41 6.40 6.40 6.28 6.14 6.14
Compound Leverage Factor		 6.51 6.24 6.43 6.03 6.41 6.94 6.40 6.28 5.82 6.50
Debt to Total Capital		 24.49% 34.31% 39.11% 33.78% 25.33% 29.38% 28.83% 25.85% 12.69% 12.55%
Short-Term Debt to Total Capital		 2.42% 2.34% 2.25% 2.52% 3.02% 2.90% 3.08% 3.11% 3.20% 3.08%
Long-Term Debt to Total Capital		 22.06% 31.97% 36.86% 31.25% 22.31% 26.48% 25.75% 22.74% 9.49% 9.46%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 75.51% 65.69% 60.89% 66.22% 74.67% 70.62% 71.17% 74.15% 87.31% 87.45%
Debt to EBITDA		 3.27 4.60 5.95 4.71 3.17 3.95 4.34 3.84 1.62 1.46
Net Debt to EBITDA		 0.19 2.30 2.09 1.34 0.79 0.77 0.48 -0.38 -2.66 -3.21
Long-Term Debt to EBITDA		 2.95 4.28 5.60 4.36 2.80 3.56 3.88 3.38 1.21 1.10
Debt to NOPAT		 4.07 6.21 7.47 6.02 4.08 5.42 5.49 4.72 2.02 1.92
Net Debt to NOPAT		 0.24 3.11 2.62 1.71 1.02 1.05 0.60 -0.46 -3.32 -4.22
Long-Term Debt to NOPAT		 3.67 5.79 7.04 5.57 3.59 4.88 4.90 4.15 1.51 1.45
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -410 -1,110 -1,918 -1,498 -250 197 897 549 631 1,141
Operating Cash Flow to CapEx		 2,353.18% 2,743.72% 12,031.98% 1,980.99% 5,231.89% 5,123.73% 2,641.13% 2,079.71% 7,814.03% 4,877.59%
Free Cash Flow to Firm to Interest Expense		 -17.76 -19.03 -20.19 -12.64 -1.95 1.42 6.11 3.70 4.14 7.96
Operating Cash Flow to Interest Expense		 5.80 2.35 1.24 0.55 0.70 1.17 0.85 0.41 0.81 0.95
Operating Cash Flow Less CapEx to Interest Expense		 5.55 2.26 1.23 0.52 0.68 1.14 0.82 0.39 0.80 0.93
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.04 0.03 0.03 0.04 0.03
Fixed Asset Turnover		 5.42 5.30 5.46 5.57 5.55 5.42 5.39 5.35 5.46 5.49
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 5,880 6,875 7,565 7,002 6,226 6,756 6,755 6,550 5,690 5,710
Invested Capital Turnover		 0.18 0.17 0.16 0.18 0.18 0.15 0.15 0.15 0.17 0.17
Increase / (Decrease) in Invested Capital		 512 1,210 2,016 1,590 346 -118 -810 -452 -536 -1,047
Enterprise Value (EV)		 4,550 6,191 5,523 4,498 3,958 5,246 4,988 4,220 3,830 3,502
Market Capitalization		 4,467 5,009 4,484 3,825 3,565 4,860 4,773 4,386 5,017 5,078
Book Value per Share		 $32.99 $33.54 $34.19 $34.37 $34.45 $35.36 $35.62 $35.92 $36.74 $36.93
Tangible Book Value per Share		 $18.96 $19.51 $20.17 $20.37 $20.45 $21.36 $21.63 $21.95 $22.77 $22.96
Total Capital		 5,880 6,875 7,565 7,002 6,226 6,756 6,755 6,550 5,690 5,710
Total Debt		 1,440 2,358 2,958 2,365 1,577 1,985 1,947 1,693 722 717
Total Long-Term Debt		 1,297 2,198 2,788 2,188 1,389 1,789 1,739 1,490 540 540
Net Debt		 83 1,182 1,040 673 393 386 215 -166 -1,187 -1,576
Capital Expenditures (CapEx)		 5.68 5.00 0.98 3.28 1.71 3.17 4.71 2.94 1.58 2.79
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 1,440 2,358 2,958 2,365 1,577 1,985 1,947 1,693 722 717
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.76 $0.74 $0.73 $0.68 $0.71 $0.60 $0.64 $0.71 $0.70 $0.71
Adjusted Weighted Average Basic Shares Outstanding		 134.18M 134.78M 134.41M 134.68M 134.69M 134.51M 134.81M 135.14M 135.16M 134.95M
Adjusted Diluted Earnings per Share		 $0.76 $0.73 $0.73 $0.68 $0.71 $0.59 $0.64 $0.71 $0.70 $0.70
Adjusted Weighted Average Diluted Shares Outstanding		 134.55M 135.12M 134.84M 134.85M 134.89M 134.75M 135.12M 135.31M 135.50M 135.23M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 134.66M 134.75M 134.93M 134.94M 134.93M 134.95M 135.20M 135.22M 135.22M 143.21M
Normalized Net Operating Profit after Tax (NOPAT)		 104 101 100 94 97 80 88 97 96 95
Normalized NOPAT Margin		 38.47% 35.56% 37.25% 34.75% 37.03% 31.36% 34.38% 38.05% 35.54% 37.08%
Pre Tax Income Margin		 47.46% 44.67% 45.83% 42.93% 46.14% 40.83% 42.49% 45.08% 44.59% 47.43%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 5.46 2.21 1.30 1.04 0.94 0.69 0.74 0.78 0.83 0.80
NOPAT to Interest Expense		 4.45 1.71 1.04 0.78 0.75 0.57 0.59 0.65 0.62 0.66
EBIT Less CapEx to Interest Expense		 5.21 2.13 1.29 1.01 0.93 0.67 0.71 0.76 0.82 0.78
NOPAT Less CapEx to Interest Expense		 4.20 1.62 1.02 0.75 0.74 0.55 0.56 0.63 0.61 0.64
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 53.65% 50.85% 49.22% 49.44% 50.32% 53.16% 55.30% 55.11% 55.66% 53.81%
Augmented Payout Ratio		 76.11% 71.78% 63.04% 49.79% 50.67% 53.54% 55.59% 55.40% 55.95% 54.09%

Key Financial Trends

United Bankshares Inc (NASDAQ: UBSI) has demonstrated consistent financial performance and stable growth over the past four years, based on the latest quarterly data through Q4 2024. Here is a summary of key financial trends and highlights from the last several quarters and years, focusing on income, cash flows, and balance sheet metrics.

  • Net Interest Income Growth: UBSI's net interest income has steadily increased over recent years, reaching $232.6 million in Q4 2024, compared to approximately $229.7 million in Q4 2023 and $249.4 million in Q4 2022, highlighting consistent core revenue generation from loans and investments.
  • Consistent Profitability: The company reported a Q4 2024 net income attributable to common shareholders of about $87.7 million, maintaining profitability with quarterly earnings per share (EPS) of $0.71 (basic) and $0.70 (diluted). Over prior quarters and years, EPS has hovered near this level, showing stability.
  • Operating Cash Flow Strength: UBSI generated strong net cash from continuing operating activities, with $445 million in Q4 2024 and a consistent trend of positive operating cash flows across quarters, supporting liquidity and capital needs.
  • Growth in Deposits: Net change in deposits increased by $133.5 million in Q4 2024 and showed overall deposit growth year-over-year, indicating stable funding sources and customer trust.
  • Controlled Credit Loss Provisions: Provision for credit losses were relatively stable, recorded at $6.7 million in Q4 2024, showing prudent risk management in loan loss reserves without significant increases.
  • Strong Capital Base: Total common equity as of Q3 2024 stood at approximately $4.97 billion, up from $4.65 billion in Q3 2023, indicating a strengthening capital position supporting growth and regulatory compliance.
  • Non-Interest Income Fluctuations: Non-interest income remained a smaller portion of total revenue (~$29.3 million in Q4 2024), mostly from service charges and other non-interest sources, showing moderate diversification of revenue streams but less growth impact compared to interest income.
  • Investment Securities Activity: Purchase and sale of investment securities fluctuate quarterly, with significant purchases offset by sales and maturities, reflecting active portfolio management but variable cash outflow and inflow in investing activities.
  • Stable Share Count: Weighted average shares outstanding have remained fairly consistent with minor fluctuations, indicating no major dilution or buyback activity in recent periods.
  • Rising Non-Interest Expenses: Non-interest expenses remain elevated, totaling $134.2 million in Q4 2024 and close to $135 million in Q3 2024, reflecting steady operational costs including salaries, occupancy, and other expenses that could pressure margins if revenue growth slows.
  • Long-Term Debt Levels: Long-term debt interest expense increased to $6.1 million in Q4 2024 (up from $4.9 million in Q3 2022), with the balance sheet showing considerable long-term debt ($540 million in Q3 2024), possibly elevating financial leverage and interest obligations.
  • Property and Liability Claims Spike in 2023: Property & liability insurance claims surged notably in Q4 2023 to $16.6 million (from mid-single digits in recent quarters), impacting non-interest expense adversely and possibly indicating higher insurance costs or risk exposures.
  • Fluctuating Net Income across Quarters: While generally profitable, net income attributable to common shareholders shows some volatility, with Q4 2023 at $96.2 million compared to $87.7 million in Q4 2024, suggesting potential earnings variability from quarter to quarter.

Summary: United Bankshares has maintained steady growth in its core lending and deposit-taking business, showing stable earnings and solid operating cash flows. The company benefits from a strong capital base and controlled credit losses. However, rising non-interest expenses and increasing debt interest costs could impact profitability margins if not managed carefully. Investment securities activity shows active portfolio adjustments, and some volatility in insurance claims and net income merits monitoring. Investors should consider UBSI's consistent earnings, solid balance sheet, and risks associated with expense and debt trends.

08/04/25 04:16 PMAI Generated. May Contain Errors.

Frequently Asked Questions About United Bankshares' Financials

When does United Bankshares' financial year end?

According to the most recent income statement we have on file, United Bankshares' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has United Bankshares' net income changed over the last 9 years?

United Bankshares' net income appears to be on an upward trend, with a most recent value of $373.00 million in 2024, rising from $137.96 million in 2015. The previous period was $366.31 million in 2023. Check out United Bankshares' forecast to explore projected trends and price targets.

How has United Bankshares' revenue changed over the last 9 years?

Over the last 9 years, United Bankshares' total revenue changed from $457.75 million in 2015 to $1.03 billion in 2024, a change of 126.1%.

How much debt does United Bankshares have?

United Bankshares' total liabilities were at $25.03 billion at the end of 2024, a 0.5% decrease from 2023, and a 130.4% increase since 2015.

How much cash does United Bankshares have?

In the past 9 years, United Bankshares' cash and equivalents has ranged from $136.69 million in 2015 to $297.37 million in 2020, and is currently $240.66 million as of their latest financial filing in 2024.

How has United Bankshares' book value per share changed over the last 9 years?

Over the last 9 years, United Bankshares' book value per share changed from 24.62 in 2015 to 36.93 in 2024, a change of 50.0%.


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This page (NASDAQ:UBSI) was last updated on 8/4/2025 by MarketBeat.com Staff
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