UNITED BANKSHARES INC/WV UBSI
United Bankshares, Inc. ("United," "we," "us," "our," or the "Company") is a West Virginia corporation registered as a financial holding company pursuant to the Bank Holding Company Act of 1956, as amended. United was incorporated on March 26, 1982, organized on September 9, 1982, and began conducting business on May 1, 1984 with the acquisition of three wholly-owned subsidiaries. Since its formation in 1982, United has acquired thirty-three banking institutions. United has one banking subsidiary "doing business" under the name of United Bank, operating under the laws of Virginia. United Bank offers a full range of commercial and retail banking services and products. United also owns nonbank subsidiaries which engage in other community banking services such as asset management, real property title insurance, financial planning, mortgage banking, and brokerage services.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.69B | $1.50B | $1.40B | $1.00B | $795.1M | $263.2M | $276.6M | $239.7M | $623.8M | $470.3M |
| Interest expense | $1.10B | $911.1M | $919.9M | $896.4M | $52.4M | $108.6M | $184.6M | $129.1M | $74.8M | $45.0M |
| Pre-tax income | $583.4M | $464.6M | $463.8M | $475.8M | $462.9M | $359.7M | $324.4M | $327.2M | $284.8M | $222.7M |
| Income tax | $118.8M | $91.6M | $97.5M | $96.2M | $95.1M | $70.7M | $64.3M | $70.8M | $134.2M | $75.6M |
| Net income | $464.6M | $373.0M | $366.3M | $379.6M | $367.7M | $289.0M | $260.1M | $256.3M | $150.6M | $147.1M |
| EPS, basic | 3.28 | 2.76 | 2.72 | 2.81 | 2.84 | 2.40 | 2.55 | 2.46 | 1.54 | 2.00 |
| EPS, diluted | 3.27 | 2.75 | 2.71 | 2.80 | 2.83 | 2.40 | 2.55 | 2.45 | 1.54 | 1.99 |
| Shares, diluted (wtd. avg.) | $141.8M | $135.2M | $134.8M | $135.1M | $129.5M | $120.1M | $101.9M | $104.3M | $97.9M | $73.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.54B | $2.29B | $1.60B | $1.18B | $3.76B | $2.21B | $837.5M | $187.9M | $196.7M | $175.5M |
| Property, plant and equipment | $208.8M | $186.1M | $190.5M | $199.2M | $197.2M | $175.8M | $96.6M | $95.2M | $104.9M | $75.9M |
| Goodwill | $2.02B | $1.89B | $1.89B | $1.89B | $1.89B | $1.80B | $1.48B | $1.48B | $1.48B | $863.8M |
| Total assets | $33.66B | $30.02B | $29.93B | $29.49B | $29.33B | $26.18B | $19.66B | $19.25B | $19.06B | $14.51B |
| Short-term debt | $198.6M | $176.1M | $196.1M | $160.7M | $128.8M | $142.3M | $124.7M | $176.6M | $277.6M | $209.6M |
| Long-term debt | $531.8M | $540.4M | $1.79B | $2.20B | $817.4M | $864.4M | $1.84B | $1.50B | $1.36B | $1.17B |
| Total liabilities | $28.16B | $25.03B | $25.16B | $24.97B | $24.61B | $21.89B | $16.30B | $16.00B | $15.82B | $12.27B |
| Retained earnings | $2.17B | $1.92B | $1.75B | $1.58B | $1.39B | $1.21B | $1.13B | $1.01B | $891.8M | $873.0M |
| Total equity | $5.50B | $4.99B | $4.77B | $4.52B | $4.72B | $4.30B | $3.36B | $3.25B | $3.24B | $2.24B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $498.9M | $445.5M | $435.2M | $760.8M | $609.5M | $140.4M | $152.0M | $294.0M | $253.9M | $170.7M |
| Depreciation and amortisation | $16.8M | $15.7M | $17.2M | $18.2M | $16.6M | $13.5M | $9.3M | $10.3M | -$21.6M | -$8.7M |
| Stock-based compensation | $13.1M | $12.1M | $12.5M | $9.9M | $8.0M | $6.0M | $4.9M | $4.1M | $3.6M | $2.8M |
| Capital expenditure | $17.7M | $12.1M | $11.7M | $16.9M | $15.4M | $19.0M | $11.1M | $5.8M | $14.4M | $7.3M |
| Investing cash flow | -$899.3M | $571.5M | $39.0M | -$3.45B | $15.7M | $137.6M | -$383.3M | -$873.0M | $266.7M | $31.0M |
| Financing cash flow | $650.4M | -$323.6M | -$51.9M | $105.3M | $923.9M | $1.09B | $48.5M | -$66.8M | -$289.0M | $375.5M |
| Dividends paid | $209.0M | $200.7M | $194.7M | $193.0M | $181.3M | $162.7M | $138.9M | $142.3M | $121.4M | $96.4M |
| Buybacks | $127.0M | $1.0M | $1.4M | $79.5M | $11.2M | $21.3M | $35.7M | $100.7M | $1.0K | $1.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-081470.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |