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First United Corporation

FUNC Financial Banks Regional

First United Corporation’s revenue for fiscal 2025 (year ended December 2025) was $121.4 million, up 8.58% from fiscal 2024. In the quarter to June 2026, revenue grew 5.24%, EPS fell 4.35%, free cash flow grew 705.5% and total debt fell 74.4%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five; insiders bought in the last twelve months.

44.24 0.32 +0.73%
Market cap
$283.5M
P/E
11.4×
Fwd P/E
9.1×
Dividend yield
2.98%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.05
Total sells 0.50
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 4 — — 4 — — 4 — — 4 — —
Sell — — — 1 — — — — 3 — — —
Insider Ownership 4.98%

Capital & Financial Ratios $m

Market Cap 283.46
Revenue 125.06
Net Income 25.06
Free Cash Flow 27.13
Net Debt (55.30)
Current Ratio 0.91
Debt/Equity 0.15
P/E ratio 11.43
Fwd P/E 9.13
P/S ratio 2.28
P/B ratio 1.34
Past 5Y EPS Growth 13.18%
This Y EPS Growth 12.07%
Next Y EPS Growth 6.64%
Next Y revenue growth (19.97%) (below 0%: weak)
Next 5Y EPS Growth 12.71%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 66.94%
10-year low 10-year high
P/S against its own 10 years 94.84%
10-year low 10-year high
P/B against its own 10 years 96.39%
10-year low 10-year high

Dividends

Payout Ratio 0.34
Annual Dividend Rate 1.32
Annual Dividend Yield 2.98%
total individual payouts
2027 Powerpack
2026 1.06
0.26
0.26
0.26
0.28
2025 0.92
0.22
0.22
0.22
0.26
2024 0.82
0.20
0.20
0.20
0.22
2023 0.78
0.18
0.20
0.20
0.20
2022 0.60
0.15
0.15
0.15
0.15
2021 0.58
0.13
0.15
0.15
0.15
2020 0.52
0.13
0.13
0.13
0.13
2019 0.40
0.09
0.09
0.09
0.13
2018 0.27
0.09
0.09
0.09
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 50 78 133 86
Receivables — — — —
Inventory — — — —
Other — — — —
1,447 1,549 1,652 1,650
2023 2024 2025 Q'26
Payables 1,551 1,575 1,735 1,736
ST’ Debt — — — —
Other — — — —
1,597 1,641 1,754 1,806

Compound Annual Growth %

10y 5y 3y
Sales 5.51% 9.60% 14.69%
Cash Flow (1.35%) 3.68% (9.96%)
Earnings 9.07% 12.11% (0.71%)
Book Value 5.36% 9.22% 10.29%

Revenue $m

Mar Jun Sep Dec Year
’26 31 32 — — —
’25 29 30 31 31 121
’24 27 28 28 29 112
’23 22 25 26 23 96
’22 19 19 21 22 80
’21 19 19 20 21 79
’20 19 19 19 19 77
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 14 5 — — —
’25 7 1 2 10 19
’24 4 7 2 9 22
’23 4 5 9 6 22
’22 3 7 8 8 27
’21 8 (1) 4 10 20
’20 4 (1) 5 8 16
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 13 6 — — —
’25 6 1 0 8 15
’24 4 7 1 9 20
’23 4 4 9 7 23
’22 3 5 8 7 23
’21 8 (2) 4 9 19
’20 3 (1) 6 7 15
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.03 0.87 — — —
’25 0.89 0.92 1.07 0.89 3.77
’24 0.56 0.75 0.89 0.95 3.15
’23 0.65 0.66 0.67 0.26 2.24
’22 0.86 0.82 1.04 1.04 3.76
’21 0.49 0.66 0.66 1.14 2.95
’20 0.25 0.37 0.70 0.72 2.03
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 8.82 13.00 14.75 15.45 10.74 15.30 16.18 12.56 19.17 24.66

Analyst estimates 2026–2028

Powerpack
High 16.95 18.30 24.32 24.80 24.99 20.50 24.50 23.69 36.49 42.50
People
People Employees 356 363 356 319 319 303 336 338 291 343
Revenue/emp, $m 0.17 0.17 0.19 0.23 0.24 0.26 0.24 0.28 0.38 0.35
Income, $m
Income, $m Revenue 61 61 67 75 77 79 80 96 112 121
Gross margin, % 86.41 87.97 87.98 84.57 87.42 92.77 94.05 74.60 71.37 73.04
EBT 10 12 13 16 18 26 33 19 27 33
EBT margin, % 16.63 19.93 19.91 22.04 23.17 33.30 41.23 20.37 24.35 26.79
Net income 7 5 11 13 14 20 25 15 21 25
Depreciation 2 2 2 3 2 1 3 4 3 2
Per share, $
Per share, $ Revenue 9.66 8.84 9.53 10.52 10.96 11.77 12.10 14.30 17.13 18.71
Earnings 0.84 0.58 1.51 1.85 2.04 2.95 3.77 2.25 3.15 3.78
Cash flow 1.83 1.86 2.58 2.31 2.31 2.98 3.99 3.36 3.41 2.99
Capex (0.58) (0.81) (1.34) (0.56) (0.23) (0.16) (0.50) 0.11 (0.29) (0.61)
Free cash flow 1.25 1.05 1.24 1.75 2.08 2.82 3.50 3.47 3.12 2.37
Book value 18.15 15.64 16.54 17.74 18.71 21.15 22.83 24.21 27.47 31.38
Shares, m 6 7 7 7 7 7 7 7 7 6
Valuation, ×
Valuation, × P/E 18.99 30.00 10.54 13.02 7.60 6.36 5.21 10.58 10.67 9.90
P/S 1.65 1.97 1.67 2.29 1.41 1.59 1.62 1.66 1.97 2.00
P/B 1.07 1.11 0.96 1.36 0.83 0.89 0.86 0.98 1.23 1.19
EV/Sales 2.78 2.57 2.82 2.97 0.78 0.52 1.08 2.30 2.35 1.70
EV/FCF 21.50 21.59 21.57 17.88 4.12 2.17 3.75 9.51 12.90 13.39
Cash, $m
Cash, $m Operating cash flow 11 13 18 16 16 20 27 22 22 19
Capex (4) (6) (9) (4) (2) (1) (3) 1 (2) (4)
Free cash flow 8 7 9 12 15 19 23 23 20 15
Balance, $m
Balance, $m Working capital (106) (119) (125) (106) (172) (276) (290) (150) (92) (102)
Total debt 132 121 101 101 101 31 31 111 121 96
Net debt 68 37 77 51 (49) (85) (43) 61 43 (37)
Shareholders’ equity 114 108 117 126 131 142 152 162 179 204
Returns, %
Returns, % ROA 0.40 0.31 0.78 0.93 0.87 1.14 1.40 0.80 1.06 1.21
ROIC 3.45 5.24 4.32 5.82 13.47 28.79 19.13 5.46 7.67 12.18
ROE 5.70 4.01 9.46 10.81 10.77 14.49 17.06 9.60 12.06 12.80
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

First United Corporation vs peers in Banks Regional (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MYFW First Western Financial, Inc. $287.7M 15.5× 12.3× +10.12% (above 0%: growing) +126.92% (above 0%: growing) +216.45% (above 0%: growing) 58.35% 0.00% Compare
ATLO Ames National Corporation $284.8M 12.5× 11.0× +7.68% (above 0%: growing) +31.37% (above 0%: growing) −13.26% (below 0%: shrinking) 73.46% 0.00% Compare
FUNC First United Corporation $283.5M 11.4× 9.1× +5.24% (above 0%: growing) −4.35% (below 0%: shrinking) +705.52% (above 0%: growing) 75.95% 0.00%
FRAF Franklin Financial Services Corp. $282.6M 11.4× 10.0× +1.12% (above 0%: growing) +11.36% (above 0%: growing) +20.95% (above 0%: growing) 71.88% 0.00% Compare
OVLY Oak Valley Bancorp (CA) $282.3M 12.0× — +4.45% (above 0%: growing) −8.82% (below 0%: shrinking) −20.28% (below 0%: shrinking) 85.32% 0.00% Compare
ISBA Isabella Bank Corporation $280.1M 13.5× 11.9× +13.60% (above 0%: growing) +1.47% (above 0%: growing) +1.06% (above 0%: growing) 73.42% 0.00% Compare
VABK Virginia National Bankshares Corporation $279.1M 11.1× 17.8× +24.86% (above 0%: growing) +110.13% (above 0%: growing) −47.94% (below 0%: shrinking) 77.48% 0.00% Compare
NKSH National Bankshares, Inc. $276.0M 13.6× 10.7× +6.17% (above 0%: growing) +119.44% (above 0%: growing) +118.57% (above 0%: growing) 71.02% 0.00% Compare
FNRN First Northern Community Bancorp $273.3M 12.2× — +2.07% (above 0%: growing) −12.99% (below 0%: shrinking) +31.66% (above 0%: growing) 83.16% 0.00% Compare
Median of peers $281.2M 12.3× 11.5× +6.92% +21.37% +11.01% 73.44% 0.00%

All 323 Banks Regional stocks →

First United Corporation (FUNC) key facts

  • Strength: First United Corporation’s revenue for fiscal 2025 (year ended December 2025) was $121.4 million, up 8.58% from fiscal 2024.
  • First United Corporation (FUNC) is a Banks Regional company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, FUNC traded at $44.24, a market capitalization of $283.5 million.
  • First United Corporation pays an annual dividend of $1.32 per share, a yield of 2.98%, with a payout ratio of 34.2%.
  • Return on equity was 12.8% and debt-to-equity 0.15.
  • Its Piotroski F-score is 7 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/FUNC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com