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Unity Bancorp, Inc.

UNTY Financial Banks Regional

Unity Bancorp, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $188.4 million, up 14.7% from fiscal 2024.

Revenue
+10.6%
EPS
+21.0%
Free cash flow
+8.49%
Total debt
+8.01%

Quarter to September 2026, against a year earlier

57.72 0.05 −0.09%
Market cap
$580.2M
P/E
9.4×
Fwd P/E
9.5×
Dividend yield
1.11%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 1.85
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 4 1 1 1 1 — — — 1 1 —
Insider Ownership 31.60%

Capital & Financial Ratios $m

Size
Market Cap 580.16
Revenue ttm 198.72
Net income ttm 61.60
Free cash flow ttm 30.80
Net debt Q 31.27
Valuation
P/E 9.40
Forward P/E 9.45
Price / sales 2.93
Forward P/S Powerpack
Price / FCF 18.89
Price / book 1.50
Financial health
Current ratio Q 1.17
Debt / equity Q 0.67
Interest coverage Q —
Growth
Revenue growth Q +10.61% (above 0%: growing)
Operating income growth Q +6.05% (above 0%: growing)
EPS, this year +17.40% (at or above 15%: strong)
EPS, next year A +7.26%
Revenue, next year A −24.68% (below 0%: weak)
EPS, past 5 yrs +20.96% (at or above 15%: strong)
EPS, next 5 yrs A +10.58%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 55.96%
10-year low 10-year high
P/S against its own 10 years 70.88%
10-year low 10-year high
P/B against its own 10 years 63.40%
10-year low 10-year high

Dividends raised every year since 2017

Yield
1.11%
Annual rate
0.64
Payout ratio
10.6%
Growth, 2017–25
+12.3%/yr
  1. 0.23 ’17
  2. 0.27 ’18 +17
  3. 0.31 ’19 +15
  4. 0.32 ’20 +3
  5. 0.36 ’21 +13
  6. 0.43 ’22 +19
  7. 0.48 ’23 +12
  8. 0.52 ’24 +8
  9. 0.58 ’25 +12
  10. 0.69 ’26e +19
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 195 180 217 230
Receivables — — — —
Inventory — — — —
Other — — — —
2,355 2,427 2,742 —
2023 2024 2025 Q'26
Payables 1,924 2,100 2,324 2,559
ST’ Debt — — — —
Other — — — —
1,950 2,128 2,355 —

Compound Annual Growth %

10y 5y 3y
Sales 14.33% 15.45% 20.09%
Cash Flow 31.15% 15.00% 1.72%
Earnings 19.75% 19.64% 14.65%
Book Value 15.98% 14.72% 13.05%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.49 Actual 1.51

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.35 1.41 Beat by 0.06
Q1 FY26 1.37 1.40 Beat by 0.03
Q2 FY26 1.44 1.42 Miss by 0.02
Q3 FY26 1.49 1.51 Beat by 0.02
Q4 FY26 1.55 — Reports 12 January 2027

EPS $

Mar Jun Sep Dec Year
’26 1.40 1.42 1.70 — —
’25 1.13 1.61 1.41 1.52 5.67
’24 0.93 0.93 1.07 1.13 4.06
’23 0.96 0.95 0.97 0.96 3.84
’22 0.85 0.88 0.93 0.93 3.59
’21 0.80 0.80 0.90 0.92 3.43
’20 0.49 0.47 0.54 0.69 2.19
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 48 49 52 — —
’25 43 48 47 50 188
’24 40 40 42 42 164
’23 35 38 39 40 152
’22 23 26 27 32 109
’21 24 24 24 25 97
’20 22 22 23 25 92
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 15 (39) 49 — —
’25 18 (24) 45 7 45
’24 16 (8) 18 23 48
’23 14 (5) 13 25 47
’22 20 (8) (2) 33 43
’21 12 8 0 12 33
’20 11 8 13 (10) 22
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 14 (39) 48 — —
’25 18 (25) 44 7 44
’24 16 (9) 18 23 47
’23 14 (5) 13 25 46
’22 20 (8) (2) 32 41
’21 11 8 0 12 31
’20 11 9 13 (10) 23
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 58 64 76 85 92 97 109 152 164 188 199 +14.0% 142 156 168 (3.7%)
Gross margin, % 84.91 85.13 82.28 78.81 84.24 92.01 90.23 68.02 65.21 69.96 70.08 (14.9) pt
EBT 20 22 27 30 31 48 51 53 54 76 77 +15.6%
EBT margin, % 35.24 35.28 35.79 35.59 33.88 49.70 47.27 34.95 33.12 40.08 38.67 +4.8 pt
Net income 13 13 22 24 24 36 38 40 41 58 62 +17.9%
Per share, $
Per share, $ Revenue 6.17 6.02 7.11 7.86 8.58 9.31 10.35 14.86 16.37 18.78 19.76 +13.2%
Earnings 1.40 1.22 2.04 2.18 2.19 3.43 3.66 3.89 4.13 5.78 6.15 +17.1%
Cash flow 0.93 1.37 3.60 3.06 2.08 3.13 4.06 4.60 4.78 4.48 3.13 +19.0%
Capex (0.77) (0.04) (0.10) 0.13 0.09 (0.12) (0.14) (0.09) (0.07) (0.06) (0.07) (25.3%)
Free cash flow 0.16 1.32 3.50 3.19 2.18 3.01 3.92 4.50 4.71 4.42 3.06 +44.7%
Book value 11.29 11.19 12.91 14.82 16.24 19.78 22.77 25.61 29.47 34.45 38.62 +13.2%
Shares, m 9 11 11 11 11 10 11 10 10 10 10 +0.7%
Valuation, ×
Valuation, × P/E 11.14 16.34 10.18 10.35 7.98 7.61 7.32 7.43 10.56 8.96 9.40 9.8
P/S 2.54 3.34 2.92 2.87 2.05 2.82 2.58 1.94 2.66 2.75 2.93 2.6
P/B 1.39 1.80 1.61 1.52 1.08 1.33 1.17 1.13 1.48 1.50 1.50 1.4
EV/Sales 2.97 5.46 3.90 4.46 1.95 0.81 5.14 3.08 2.97 3.02 — 3.4
EV/FCF 115.57 24.85 7.93 10.99 7.67 2.51 13.58 10.16 10.31 12.82 — 21.6
Cash, $m
Cash, $m Operating cash flow 9 14 39 33 22 33 43 47 48 45 32 +19.9%
Capex (7) 0 (1) 1 1 (1) (1) (1) (1) (1) (1) (24.8%)
Free cash flow 1 14 38 35 23 31 41 46 47 44 31 +45.7%
Balance, $m
Balance, $m Working capital 119 261 221 309 260 104 397 404 299 387 415 +14.0%
Net debt 25 135 75 135 (9) (195) 279 172 50 50 31 +7.7%
Shareholders’ equity 106 118 138 161 174 206 239 261 296 346 388 +14.0%
Returns, %
Returns, % ROA 1.16 0.97 1.44 1.43 1.29 1.81 1.72 1.58 1.58 2.06 2.01 +0.9 pt
ROIC 9.71 5.54 8.00 6.40 11.79 268.08 6.21 7.64 9.83 11.94 11.44 +2.2 pt
ROE 14.30 11.49 17.08 15.81 14.13 19.03 17.29 15.86 14.88 18.08 17.05 +3.8 pt
People
People Employees 194 208 207 209 210 214 232 237 228 245 — +2.6%
Revenue/emp, $m 0.30 0.31 0.37 0.41 0.44 0.45 0.47 0.64 0.72 0.77 — +11.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Unity Bancorp, Inc. 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
GCBC Greene County Bancorp, Inc. $612.9M 14.9× — +7.97% (above 0%: growing) +21.82% (above 0%: growing) +40.48% (above 0%: growing) 67.04% 0.00% Compare
KRNY Kearny Financial $586.3M 15.6× 12.1× +1.22% (above 0%: growing) +6.67% (above 0%: growing) +147.69% (above 0%: growing) 50.63% 0.00% Compare
CIVB Civista Bancshares, Inc. $583.3M 10.1× 9.6× +4.29% (above 0%: growing) +13.24% (above 0%: growing) +57.62% (above 0%: growing) 72.61% 0.00% Compare
UNTY Unity Bancorp, Inc. $580.2M 9.4× 9.5× +10.61% (above 0%: growing) +20.98% (above 0%: growing) +8.49% (above 0%: growing) 70.01% 0.00%
BWB Bridgewater Bancshares, Inc. $567.9M 9.9× 10.2× +4.66% (above 0%: growing) +41.63% (above 0%: growing) +433.13% (above 0%: growing) 54.57% 0.00% Compare
SFST Southern First Bancshares, Inc. $561.9M 12.0× 11.9× +8.16% (above 0%: growing) +20.37% (above 0%: growing) +41.79% (above 0%: growing) 59.23% 0.00% Compare
BWFG Bankwell Financial Group, Inc. $559.9M 12.2× 11.6× +10.72% (above 0%: growing) +25.00% (above 0%: growing) +23.23% (above 0%: growing) 60.10% 0.00% Compare
BSVN Bank7 Corp. $556.7M 13.2× 16.2× −7.40% (below 0%: shrinking) −25.42% (below 0%: shrinking) +20.62% (above 0%: growing) 71.74% 0.00% Compare
CBAN Colony Bankcorp, Inc. $546.8M 12.1× 12.0× +23.45% (above 0%: growing) +10.87% (above 0%: growing) −48.88% (below 0%: shrinking) 72.54% 0.00% Compare
Median of peers $564.9M 12.2× 11.9× +6.32% +16.80% +41.14% 63.57% 0.00%

All 327 Banks Regional stocks →

Pay and ownership Proxy statement filed 6 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 2.70m 3.10m 248.68
2024 3.30m 3.97m 207.94
2023 2.36m 2.50m 139.49
2022 2.21m 2.32m 126.86

Ownership

Directors and executive officers, together 28.87%
David D. Dallas 17.82%
Robert H. Dallas, II 17.71%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Unity Bancorp, Inc. (UNTY) Latest News

13 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Associated Press
Impact 3 · · GlobeNewswire

6 Oct

Impact 3 · · Zacks

23 Sep

Impact 3 · · GlobeNewswire

14 Jul

Impact 3 ·
Impact 3 ·

14 Apr

Impact 4 · · Zacks
Impact 4 · · GlobeNewswire

26 Feb

Impact 3 · · GlobeNewswire

10 Feb

Impact 3 · · Simply Wall St.

30 Jan

Impact 4 · · GlobeNewswire

14 Jan

Impact 3 · · Simply Wall St.

13 Jan

Impact 4 ·
Impact 4 · · GlobeNewswire

16 Dec

Impact 4 · · Simply Wall St.

11 Dec

Impact 4 · · Simply Wall St.Simply Wall St.

20 Nov

Impact 3 · · GlobeNewswire

14 Nov

Impact 4 · · Simply Wall St.

14 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Zacks
Impact 4 · · Associated Press Finance
Impact 4 · · GlobeNewswire
Impact 3 · · Zacks

10 Oct

Impact 4 · · Simply Wall St.

3 Oct

Impact 4 · · Zacks

22 Sep

Impact 3 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

26 Aug

Impact 3 · · Simply Wall St.

22 Aug

Impact 3 ·
stockrow.com/UNTY · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com