Company Valuation: First United Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 124.2 130.8 157.2 218.1 243.2 281.5 -
Change - 5.35% 20.18% 38.72% 11.55% 15.73% -
Enterprise Value (EV) 124.2 130.8 157.2 218.1 243.2 281.5 281.5
Change - 5.35% 20.18% 38.72% 11.55% 15.73% 0%
P/E 6.36x 5.23x 10.5x 10.7x 9.93x 10.3x 9.09x
PBR 0.88x - 0.96x 1.22x 1.2x 1.26x 1.13x
PEG - 0.2x -0.3x 0.3x 0.5x 0.8x 0.7x
Capitalization / Revenue 1.69x - 2.2x 2.73x 2.74x 2.9x 2.73x
EV / Revenue 0x - 0x 0x 0x 2.9x 2.73x
EV / EBITDA - - - - - - -
EV / EBIT - - 0x 0x 0x 7.04x 6.26x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Dividend per Share 2 0.6 - 0.8 0.84 0.96 1.04 1.1
Rate of return 3.2% - 3.4% 2.49% 2.56% 2.38% 2.52%
EPS 2 2.95 3.76 2.24 3.15 3.77 4.24 4.8
Distribution rate 20.3% - 35.7% 26.7% 25.5% 24.5% 22.9%
Net sales 1 73.66 - 71.34 79.8 88.68 97.17 103.1
EBITDA - - - - - - -
EBIT 1 - - 21.1 30.16 35.28 39.96 44.96
Net income 1 19.77 25.05 15.06 20.57 24.52 27.52 31.13
Net Debt - - - - - - -
Reference price 2 18.76 19.65 23.51 33.71 37.44 43.62 43.62
Nbr of stocks (in thousands) 6,618 6,656 6,686 6,469 6,497 6,454 -
Announcement Date 2/4/22 A 3/24/23 A 2/5/24 A 2/5/25 A 2/4/26 A - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.29x - - 2.38% 282M
13.12x - - 1.91% 884B
6.17x - - 5.03% 415B
11.69x - - 2.22% 376B
6.58x - - 4.81% 357B
6.14x - - 5.02% 328B
11.67x - - 4.46% 327B
6.7x - - 4.75% 303B
17.18x - - 2.45% 271B
13.93x - - 2.82% 253B
Average 10.35x 3.59% 351.29B
Weighted average by Cap. 10.51x 3.49%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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