United Bankshares, Inc. (UBSI) Income Statement
UBSI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsUBSI revenue and net income
Where UBSI's revenue goes
2025Each bar shows an amount and its share of revenue. UBSI kept 25.5% of revenue as net income.
UBSI profit margins
UBSI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +12.3% | +16.7% | +9.9% | +13.9% |
| Gross profit | +18.4% | +5.2% | +5.2% | +10.6% |
| Operating income | +27.0% | +7.4% | +10.4% | +11.2% |
| Net income | +24.6% | +7.0% | +10.0% | +12.9% |
| EPS (diluted) | +25.5% | +7.0% | +4.7% | +5.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
UBSI quarterly EPS vs estimates
United Bankshares beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 22, 2026 (estimate $0.94).
UBSI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.82B | $1.62B | $1.53B | $1.15B | $1.06B | $1.14B | $910.7M | $841.4M | $753.6M | $538.6M |
| Cost of revenue | $630.8M | $616.2M | $512.5M | $124.4M | $28.4M | $215.2M | $206.0M | $151.1M | $103.2M | $69.5M |
| Gross profit | $1.19B | $1.00B | $1.02B | $1.02B | $1.03B | $922.6M | $704.8M | $690.3M | $650.4M | $469.1M |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $457.0M | $308.0M | $318.9M | $308.5M | $348.0M | $339.3M | $222.9M | $240.5M | $234.0M | $149.5M |
| Total operating expenses | $599.6M | $539.9M | $552.5M | $545.4M | $568.0M | $562.9M | $380.4M | $363.2M | $365.6M | $246.5M |
| Operating income | $590.2M | $464.6M | $463.8M | $475.8M | $462.9M | $359.7M | $324.4M | $327.2M | $284.8M | $222.7M |
| Interest income | $1.69B | $1.50B | $1.34B | $1.01B | $795.1M | $802.3M | $762.6M | $717.7M | $623.8M | $470.3M |
| Interest expense | $583.7M | $591.1M | $481.4M | $105.6M | $52.4M | $108.6M | $184.6M | $129.1M | $74.8M | $45.0M |
| Income before taxes | $583.4M | $464.6M | $463.8M | $475.8M | $462.9M | $359.7M | $324.4M | $327.2M | $284.8M | $222.7M |
| Income taxes | $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 |
| EBITDA | $590.2M | $475.0M | $486.9M | $499.5M | $470.8M | $343.3M | $304.0M | $306.1M | $263.3M | $213.9M |
| EPS (diluted) | $3.44 | $2.74 | $2.71 | $2.81 | $2.95 | $2.74 | $2.55 | $2.45 | $2.04 | $2.00 |
| Gross margin | 65.4% | 62.0% | 66.5% | 89.1% | 97.3% | 81.1% | 77.4% | 82.0% | 86.3% | 87.1% |
| Operating margin | 32.4% | 28.7% | 30.3% | 41.5% | 43.7% | 31.6% | 35.6% | 38.9% | 37.8% | 41.3% |
| Net margin | 25.5% | 23.0% | 24.0% | 33.1% | 34.7% | 25.4% | 28.6% | 30.5% | 20.0% | 27.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $418.2M | $447.5M | $461.0M | $474.9M | $452.1M | $432.6M | $404.5M | $413.6M | $402.8M | $399.8M | $401.4M | $388.9M |
| Cost of revenue | $132.9M | $141.2M | $142.6M | $162.9M | $152.5M | $172.7M | $150.1M | $159.4M | $154.2M | $152.4M | $146.4M | $134.4M |
| Gross profit | $285.3M | $306.4M | $318.4M | $312.0M | $299.5M | $259.9M | $254.3M | $254.2M | $248.5M | $247.4M | $255.1M | $254.5M |
| Sales, general & admin | $154.7M | $101.2M | $151.7M | $147.5M | $78.9M | $78.9M | $75.9M | $75.9M | $75.7M | $80.4M | $93.6M | $76.6M |
| Total operating expenses | $159.7M | $150.4M | $151.7M | $147.5M | $147.4M | $153.0M | $133.3M | $134.3M | $133.1M | $139.2M | $150.9M | $133.5M |
| Operating income | $125.6M | $156.0M | $166.7M | $164.5M | $152.1M | $106.9M | $121.1M | $119.9M | $115.4M | $108.2M | $104.2M | $120.9M |
| Interest income | $418.2M | $415.9M | $430.1M | $431.0M | $421.2M | $403.6M | $376.0M | $382.7M | $374.2M | $369.2M | $369.2M | $356.9M |
| Interest expense | $132.9M | $133.4M | $142.6M | $150.8M | $146.7M | $143.6M | $143.4M | $152.5M | $148.5M | $146.7M | $139.5M | $128.5M |
| Income before taxes | $164.1M | $156.0M | $159.9M | $164.5M | $152.1M | $106.9M | $121.1M | $119.9M | $115.4M | $108.2M | $104.2M | $120.9M |
| Income taxes | $32.8M | $31.8M | $31.1M | $33.7M | $31.4M | $22.6M | $26.7M | $24.6M | $18.9M | $21.4M | $24.8M | $24.8M |
| Net income | $131.4M | $124.2M | $128.8M | $130.7M | $120.7M | $84.3M | $94.4M | $95.3M | $96.5M | $86.8M | $79.4M | $96.2M |
| EBITDA | $127.5M | $156.0M | $166.7M | $164.5M | $152.1M | $106.9M | $121.1M | $119.9M | $115.4M | $108.2M | $104.2M | $120.9M |
| EPS (diluted) | $0.95 | $0.89 | $0.91 | $0.92 | $0.85 | $0.76 | $0.69 | $0.70 | $0.71 | $0.64 | $0.59 | $0.71 |
| Gross margin | 68.2% | 68.5% | 69.1% | 65.7% | 66.3% | 60.1% | 62.9% | 61.5% | 61.7% | 61.9% | 63.5% | 65.4% |
| Operating margin | 30.0% | 34.9% | 36.2% | 34.6% | 33.6% | 24.7% | 29.9% | 29.0% | 28.6% | 27.1% | 26.0% | 31.1% |
| Net margin | 31.4% | 27.8% | 27.9% | 27.5% | 26.7% | 19.5% | 23.3% | 23.0% | 24.0% | 21.7% | 19.8% | 24.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in UBSI's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
UBSI financial results
In fiscal year 2025 (ended December 31, 2025), United Bankshares reported revenue of $1.8 billion, up 12.3% from the year before. It had net income of $464.6 million (up 24.6%), a net profit margin of 25.5%. Diluted earnings per share came to $3.44. Over five years revenue grew at an average rate of 9.9% a year.
See the UBSI stock overview for the latest quote and news, or the UBSI chart for price history and technical indicators.
UBSI income statement FAQ
What is United Bankshares's annual revenue?
United Bankshares reported total revenue of $1.8 billion for fiscal year 2025, which ended on December 31, 2025. That was up 12.3% from $1.6 billion the previous year.
Is United Bankshares profitable?
Yes. United Bankshares reported net income of $464.6 million in fiscal 2025, a net profit margin of 25.5%; its operating margin was 32.4%.
What is United Bankshares's gross margin?
United Bankshares's gross margin was 65.4% in fiscal 2025: for every $100 of revenue, United Bankshares kept $65 after the direct cost of its products and services.
How fast is United Bankshares growing?
Revenue grew 9.9% a year on average over the last five fiscal years, from $1.1 billion to $1.8 billion.
What are United Bankshares's earnings per share?
United Bankshares earned $3.44 per diluted share in fiscal 2025, compared with $2.74 a year earlier.
When will United Bankshares report its next earnings?
United Bankshares is expected to report results for the quarter ending September 30, 2026 on October 22, 2026 before the market opens.
When does United Bankshares's fiscal year end?
United Bankshares's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.