First United Corporation (FUNC) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
7.99
+11% vs avg
5yr avg: 7.22
30Y Low3.4·High42.0
P/FCF
↑
17.97
↑+95% vs avg
5yr avg: 9.23
30Y Low0.2·High74.0
P/B Ratio
↑
1.36
↑+32% vs avg
5yr avg: 1.03
30Y Low0.2·High2.3
ROE
↓
12.8%
-3% vs avg
5yr avg: 13.2%
30Y Low-13%·High17%
Debt/EBITDA
↑
3.53
↓-19% vs avg
5yr avg: 4.36
30Y Low0.6·High31.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FUNC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
First United Corporation trades at 11.3x earnings, 32% above its 5-year average of 8.5x, sitting at the 64th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a discount of 17%. On a free-cash-flow basis, the stock trades at 18.0x P/FCF, 95% above the 5-year average of 9.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $277M | $244M | $220M | $158M | $131M | $126M | $109M | $171M | $113M | $121M | $100M |
| Enterprise Value | $260M | $227M | $330M | $266M | $154M | $102M | $112M | $274M | $268M | $207M | $204M |
| P/E Ratio → | 11.29 | 9.93 | 10.70 | 10.45 | 5.23 | 6.38 | 7.60 | 13.02 | 10.54 | 30.00 | 18.99 |
| P/S Ratio | 2.32 | 2.04 | 1.97 | 1.65 | 1.63 | 1.60 | 1.41 | 2.29 | 1.67 | 1.97 | 1.65 |
| P/B Ratio | 1.36 | 1.20 | 1.23 | 0.97 | 0.86 | 0.89 | 0.83 | 1.36 | 0.96 | 1.11 | 0.88 |
| P/FCF | 17.97 | 15.81 | 10.83 | 7.12 | 5.70 | 6.67 | 7.46 | 13.78 | 12.79 | 18.96 | 13.20 |
| P/OCF | 14.29 | 12.57 | 9.89 | 7.01 | 4.93 | 6.29 | 6.72 | 10.44 | 6.16 | 9.33 | 8.69 |
P/E links to full P/E history page with 30-year chart
FUNC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
First United Corporation's enterprise value stands at 8.0x EBITDA, 11% above its 5-year average of 7.2x. The Financial Services sector median is 11.4x, placing the stock at a 30% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.90 | 2.95 | 2.78 | 1.92 | 1.29 | 1.46 | 3.67 | 3.97 | 3.37 | 3.38 |
| EV / EBITDA | 7.99 | 6.97 | 10.63 | 10.89 | 4.19 | 3.42 | 5.26 | 13.80 | 16.88 | 14.64 | 17.38 |
| EV / EBIT | 7.99 | 6.97 | 12.11 | 13.62 | 4.65 | 3.86 | 6.31 | 16.64 | 19.94 | 16.92 | 20.29 |
| EV / FCF | — | 14.71 | 16.20 | 12.01 | 6.72 | 5.38 | 7.71 | 22.06 | 30.39 | 32.48 | 27.00 |
FUNC Profitability
Margins and return-on-capital ratios measuring operating efficiency
First United Corporation earns an operating margin of 27.3%, above the Financial Services sector average of 20.3%. Operating margins have expanded from 20.4% to 27.3% over the past 3 years, signaling improving operational efficiency. ROE of 12.8% is modest. ROIC of 7.1% represents adequate returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.2% | 70.2% | 68.8% | 73.0% | 94.8% | 93.8% | 80.4% | 82.8% | 84.9% | 83.8% | 81.3% |
| Operating Margin | 27.3% | 27.3% | 24.4% | 20.4% | 41.2% | 33.5% | 23.1% | 22.0% | 19.9% | 19.9% | 16.6% |
| Net Profit Margin | 20.6% | 20.6% | 18.4% | 15.8% | 31.1% | 25.1% | 18.0% | 17.6% | 15.8% | 8.6% | 12.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.8% | 12.8% | 12.1% | 9.6% | 17.1% | 14.5% | 10.8% | 10.8% | 9.5% | 4.7% | 6.2% |
| ROA | 1.2% | 1.2% | 1.1% | 0.8% | 1.4% | 1.1% | 0.9% | 0.9% | 0.8% | 0.4% | 0.6% |
| ROIC | 7.1% | 7.1% | 5.9% | 5.1% | 10.3% | 7.6% | 4.7% | 4.3% | 3.5% | 3.3% | 2.6% |
| ROCE | 9.8% | 9.8% | 8.5% | 7.5% | 16.6% | 12.2% | 7.2% | 6.7% | 5.7% | 5.1% | 3.9% |
FUNC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
First United Corporation carries a Debt/EBITDA ratio of 3.5x, which is moderately leveraged (17% below the sector average of 4.3x). The company holds a net cash position — cash of $132M exceeds total debt of $115M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of just 1.0x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.56 | 0.56 | 1.05 | 0.98 | 0.64 | 0.64 | 1.17 | 1.21 | 1.53 | 1.57 | 1.48 |
| Debt / EBITDA | 3.53 | 3.53 | 6.05 | 6.47 | 2.66 | 3.07 | 7.17 | 7.70 | 11.26 | 12.03 | 14.27 |
| Net Debt / Equity | — | -0.08 | 0.61 | 0.67 | 0.16 | -0.17 | 0.03 | 0.82 | 1.32 | 0.79 | 0.92 |
| Net Debt / EBITDA | -0.52 | -0.52 | 3.53 | 4.43 | 0.64 | -0.82 | 0.17 | 5.18 | 9.78 | 6.10 | 8.88 |
| Debt / FCF | — | -1.09 | 5.37 | 4.89 | 1.03 | -1.29 | 0.25 | 8.29 | 17.60 | 13.52 | 13.80 |
| Interest Coverage | 0.99 | 0.99 | 0.85 | 0.80 | 6.93 | 4.60 | 1.84 | 1.43 | 1.66 | 1.66 | 1.22 |
Net cash position: cash ($132M) exceeds total debt ($115M)
FUNC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.09x is below 1.0, meaning current liabilities exceed current assets.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.09 | 0.09 | 0.10 | 0.10 | 0.13 | 0.27 | 0.26 | 0.17 | 0.16 | 0.23 | 0.21 |
| Quick Ratio | 0.09 | 0.09 | 0.10 | 0.10 | 0.13 | 0.27 | 0.26 | 0.17 | 0.16 | 0.23 | 0.21 |
| Cash Ratio | 0.07 | 0.07 | 0.05 | 0.03 | 0.05 | 0.08 | 0.10 | 0.04 | 0.02 | 0.08 | 0.06 |
| Asset Turnover | — | 0.06 | 0.06 | 0.05 | 0.04 | 0.05 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
FUNC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
First United Corporation returns 2.2% to shareholders annually primarily through dividends. The payout ratio of 24.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 8.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.2% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 24.3% | 24.3% | 26.1% | 34.6% | 15.9% | 19.7% | 26.3% | 23.8% | 17.9% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.9% | 10.1% | 9.3% | 9.6% | 19.1% | 15.7% | 13.2% | 7.7% | 9.5% | 3.3% | 5.3% |
| FCF Yield | 5.6% | 6.3% | 9.2% | 14.0% | 17.5% | 15.0% | 13.4% | 7.3% | 7.8% | 5.3% | 7.6% |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 2.2% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $6M |
Peer Comparison
Compare FUNC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FUNCYou | $277M | 11.3 | 8.0 | 18.0 | 70.2% | 27.3% | 12.8% | 7.1% | 3.5 |
 CZWI | $205M | 14.6 | 15.6 | 19.8 | 54.7% | 7.0% | 7.9% | 2.0% | 5.8 |
 MNSB | $176M | 13.6 | 11.5 | 16.5 | 54.4% | 14.0% | 7.3% | 5.0% | 3.7 |
 NKSH | $225M | 14.2 | 11.4 | 14.8 | 65.1% | 22.5% | 9.3% | 8.4% | 0.1 |
 BWFG | $448M | 12.6 | 7.7 | 17.1 | 51.6% | 23.3% | 12.3% | 8.0% | 3.4 |
 FXNC | $265M | 15.0 | 6.7 | 12.6 | 74.0% | 19.6% | 10.0% | 7.7% | 1.9 |
 CHMG | $341M | 22.7 | 14.3 | 7.7 | 64.2% | 14.2% | 6.4% | 5.0% | 0.2 |
 CZFS | $327M | 8.9 | 13.3 | 9.3 | 63.3% | 26.0% | 11.5% | 5.4% | 6.9 |
 FIS | $20B | 50.9 | 6.4 | 7.0 | 36.9% | 16.5% | 2.6% | 6.0% | 1.1 |
 JKHY | $9B | 20.2 | 11.7 | 15.5 | 42.7% | 23.9% | 21.4% | 21.0% | — |
 FISV | $26B | 7.5 | 6.1 | 5.9 | 59.4% | 26.9% | 13.0% | 8.1% | 3.3 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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FUNC — Frequently Asked Questions
Quick answers to the most common questions about buying FUNC stock.
What is First United Corporation's P/E ratio?
First United Corporation's current P/E ratio is 11.3x. The historical average is 12.2x. This places it at the 64th percentile of its historical range.
What is First United Corporation's EV/EBITDA?
First United Corporation's current EV/EBITDA is 8.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.2x.
What is First United Corporation's ROE?
First United Corporation's return on equity (ROE) is 12.8%. The historical average is 9.2%.
Is FUNC stock overvalued?
Based on historical data, First United Corporation is trading at a P/E of 11.3x. This is at the 64th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is First United Corporation's dividend yield?
First United Corporation's current dividend yield is 2.15% with a payout ratio of 24.3%.
What are First United Corporation's profit margins?
First United Corporation has 70.2% gross margin and 27.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does First United Corporation have?
First United Corporation's Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.