United Bankshares, Inc. (UBSI) Key Metrics
UBSI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $6.36B
- Enterprise value
- $5.06B
- P/E (TTM)
- 12.7 10-yr median 13.7
- Forward P/E
- 13.6
- PEG ratio
- 1.95
- Price / sales
- 5.1 10-yr median 4.1
- Price / book
- 1.1 10-yr median 1.0
- EV / EBITDA
- — 10-yr median 6.0
- Dividend yield
- 3.26% $1.52 a year
- Beta
- 0.74
UBSI key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsUBSI valuation Price multiples at each fiscal year-end price.
UBSI returns How much profit the business earns on the capital it uses.
UBSI per-share figures Results divided by the shares outstanding at year-end.
UBSI financial health Debt, liquidity and how easily interest is covered.
UBSI efficiency & capital use Working capital cycle and where the cash goes.
UBSI valuation history
UBSI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
UBSI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
UBSI cash returned to shareholders
UBSI price vs earnings per share
UBSI key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $5.41B | $5.09B | $5.06B | $5.47B | $4.70B | $3.89B | $3.94B | $3.24B | $3.40B | $3.42B |
| Enterprise value | $733.1M | $3.34B | $1.75B | $2.19B | −$2.07B | −$190.8M | $2.94B | $1.74B | $1.69B | $2.11B |
| P/E ratio | 11.7 | 13.6 | 13.8 | 14.4 | 12.8 | 13.5 | 15.1 | 12.7 | 22.6 | 23.2 |
| Price / sales | 3.0 | 3.1 | 3.3 | 4.8 | 4.4 | 3.4 | 4.3 | 3.9 | 4.5 | 6.3 |
| Price / book | 1.0 | 1.0 | 1.1 | 1.2 | 1.0 | 0.9 | 1.2 | 1.0 | 1.0 | 1.5 |
| Price / free cash flow | 11.3 | 11.7 | 11.9 | 7.4 | 7.9 | 32.0 | 28.8 | 11.3 | 14.2 | 20.9 |
| Price / operating cash flow | 10.9 | 11.4 | 11.6 | 7.2 | 7.7 | 27.7 | 26.7 | 11.0 | 13.4 | 20.0 |
| EV / sales | 0.4 | 2.1 | 1.1 | 1.9 | -2.0 | -0.2 | 3.2 | 2.1 | 2.2 | 3.9 |
| EV / EBITDA | 1.2 | 7.0 | 3.6 | 4.4 | — | — | 9.7 | 5.7 | 6.4 | 9.8 |
| EV / free cash flow | 1.5 | 7.7 | 4.1 | 2.9 | — | — | 21.5 | 6.1 | 7.1 | 12.9 |
| Earnings yield | 8.6% | 7.3% | 7.2% | 6.9% | 7.8% | 7.4% | 6.6% | 7.9% | 4.4% | 4.3% |
| Free cash flow yield | 8.9% | 8.5% | 8.4% | 13.6% | 12.6% | 3.1% | 3.5% | 8.8% | 7.0% | 4.8% |
| Dividend yield | 3.9% | 3.9% | 3.8% | 3.5% | 3.9% | 4.2% | 3.5% | 4.4% | 3.6% | 2.8% |
| Shareholder yield (dividends + buybacks) | 6.2% | 4.0% | 3.9% | 5.0% | 4.1% | 4.7% | 4.4% | 7.5% | 3.6% | 2.8% |
| Share price at fiscal year-end | $38.40 | $37.55 | $37.55 | $40.49 | $36.28 | $32.40 | $38.66 | $31.11 | $34.75 | $46.25 |
| Per share | ||||||||||
| Revenue per share | $12.91 | $11.96 | $11.35 | $8.48 | $8.18 | $9.47 | $8.94 | $8.07 | $7.70 | $7.29 |
| Earnings per share | $3.30 | $2.75 | $2.72 | $2.81 | $2.84 | $2.41 | $2.55 | $2.46 | $1.54 | $1.99 |
| Operating cash flow per share | $3.54 | $3.29 | $3.23 | $5.63 | $4.71 | $1.17 | $1.45 | $2.82 | $2.59 | $2.31 |
| Free cash flow per share | $3.41 | $3.20 | $3.14 | $5.51 | $4.59 | $1.01 | $1.34 | $2.75 | $2.45 | $2.21 |
| Cash per share | $39.73 | $18.84 | $39.96 | $42.31 | $60.23 | $42.98 | $32.14 | $32.18 | $36.31 | $36.44 |
| Book value per share | $38.98 | $36.85 | $35.41 | $33.42 | $36.43 | $35.79 | $33.03 | $31.18 | $33.10 | $30.26 |
| Tangible book value per share | $24.44 | $22.84 | $21.36 | $19.29 | $21.69 | $20.65 | $18.22 | $16.65 | $17.54 | $18.26 |
| Dividends per share | $1.48 | $1.48 | $1.45 | $1.43 | $1.40 | $1.35 | $1.36 | $1.36 | $1.24 | $1.30 |
| Capex per share | $0.13 | $0.09 | $0.09 | $0.12 | $0.12 | $0.16 | $0.11 | $0.06 | $0.15 | $0.10 |
| Debt per share | $6.53 | $5.93 | $15.42 | $18.01 | $7.98 | $8.99 | $22.33 | $17.74 | $18.81 | $18.70 |
| Shares outstanding | 141.0M | 135.5M | 134.8M | 135.1M | 129.5M | 120.1M | 101.9M | 104.3M | 97.9M | 73.9M |
| Change in shares outstanding | +4.0% | +0.6% | −0.3% | +4.3% | +7.8% | +17.9% | −2.3% | +6.5% | +32.5% | +6.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 8.9% | 7.6% | 7.9% | 8.2% | 8.2% | 7.5% | 7.9% | 7.9% | 5.5% | 7.5% |
| Return on invested capital (ROIC) | 23.2% | 15.8% | 27.2% | — | — | 22.4% | 12.7% | 15.7% | 12.3% | 13.7% |
| Return on assets (ROA) | 1.5% | 1.2% | 1.2% | 1.3% | 1.3% | 1.3% | 1.3% | 1.3% | 0.9% | 1.1% |
| Return on tangible assets | 1.5% | 1.3% | 1.3% | 1.4% | 1.3% | 1.2% | 1.4% | 1.4% | 0.9% | 1.1% |
| Free cash flow margin | 26.4% | 26.7% | 27.7% | 64.9% | 56.1% | 10.7% | 15.0% | 34.1% | 31.8% | 30.3% |
| Income quality (OCF / net income) | 1.07 | 1.19 | 1.19 | 2.00 | 1.66 | 0.49 | 0.57 | 1.15 | 1.69 | 1.16 |
| Financial health | ||||||||||
| Total debt | $921.2M | $803.3M | $2.08B | $2.43B | $1.03B | $1.08B | $2.27B | $1.85B | $1.84B | $1.38B |
| Cash & short-term investments | $5.60B | $2.55B | $5.38B | $5.72B | $7.80B | $5.16B | $3.27B | $3.36B | $3.55B | $2.69B |
| Net debt | −$4.68B | −$1.75B | −$3.31B | −$3.28B | −$6.77B | −$4.08B | −$999.9M | −$1.51B | −$1.71B | −$1.31B |
| Debt / equity | 0.17 | 0.16 | 0.44 | 0.54 | 0.22 | 0.25 | 0.68 | 0.57 | 0.57 | 0.62 |
| Debt / assets | 0.03 | 0.03 | 0.07 | 0.08 | 0.04 | 0.04 | 0.12 | 0.10 | 0.10 | 0.10 |
| Net debt / EBITDA | −7.93 | −3.68 | −6.79 | −6.57 | −14.37 | −11.89 | −3.29 | −4.92 | −6.51 | −6.13 |
| Current ratio | 28.21 | 0.11 | 0.24 | 0.26 | 0.33 | 0.25 | 0.24 | 0.24 | 0.25 | 0.25 |
| Quick ratio | 28.21 | 0.11 | 0.17 | 0.26 | 0.49 | 0.36 | 0.30 | 0.24 | 0.25 | 0.24 |
| Interest coverage | 1.0 | 0.8 | 1.0 | 4.5 | 8.8 | 3.3 | 1.8 | 2.5 | 3.8 | 4.9 |
| Working capital | $5.40B | −$21.48B | −$17.73B | −$16.84B | −$15.81B | −$15.70B | −$10.81B | −$10.91B | −$10.70B | −$8.42B |
| Invested capital | $815.5M | $3.24B | $1.47B | $1.23B | −$2.05B | $215.9M | $2.36B | $1.75B | $1.53B | $924.3M |
| Tangible asset value | $3.44B | $3.10B | $2.88B | $2.61B | $2.81B | $2.48B | $1.86B | $1.74B | $1.72B | $1.35B |
| Net current asset value | −$22.56B | −$22.38B | −$19.66B | −$19.16B | −$16.75B | −$16.66B | −$12.97B | −$12.58B | −$12.21B | −$9.54B |
| Graham number | $53.76 | $47.77 | $46.54 | $45.97 | $48.25 | $44.02 | $43.56 | $41.52 | $33.85 | $36.81 |
| Graham net-net per share | −$159.46 | −$165.32 | −$140.58 | −$141.98 | −$144.24 | −$148.42 | −$131.92 | −$120.69 | −$124.76 | −$129.04 |
| Capital allocation | ||||||||||
| Dividends paid | $209.0M | $200.7M | $194.7M | $193.0M | $181.3M | $162.7M | $138.9M | $142.3M | $121.4M | $96.4M |
| Share buybacks (net) | $127.0M | $1.0M | $1.4M | $79.5M | $11.2M | $21.3M | $35.7M | $100.7M | $1,000 | $1,000 |
| Dividend payout ratio | 45.0% | 53.8% | 53.2% | 50.9% | 49.3% | 56.3% | 53.4% | 55.5% | 80.6% | 65.5% |
| Dividends + buybacks / free cash flow | 69.8% | 46.6% | 46.3% | 36.6% | 32.4% | 151.6% | 127.8% | 84.8% | 50.7% | 58.9% |
| Capex / revenue | 1.0% | 0.7% | 0.8% | 1.5% | 1.5% | 1.7% | 1.2% | 0.7% | 1.9% | 1.3% |
| Capex / operating cash flow | 3.6% | 2.7% | 2.7% | 2.2% | 2.5% | 13.5% | 7.5% | 2.0% | 5.7% | 4.3% |
| Capex / depreciation | — | 1.17 | 0.51 | 0.71 | 1.94 | — | — | — | — | — |
| Stock-based compensation / revenue | 0.7% | 0.7% | 0.8% | 0.9% | 0.8% | 0.5% | 0.5% | 0.5% | 0.5% | 0.5% |
| SG&A / revenue | 25.1% | 19.0% | 20.9% | 26.9% | 32.9% | 29.8% | 24.5% | 28.6% | 31.0% | 27.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 21.2 | 24.1 | 24.6 | 25.4 | 22.6 | 20.0 | 23.8 | 24.6 | 22.3 | 25.5 |
| Days of inventory on hand | — | — | 530.4 | -5,627.6 | -39,412.2 | -2,722.3 | -792.4 | 49.8 | 98.8 | 167.3 |
| Days payables outstanding | — | — | — | 34,539.4 | 151,281.1 | 316.1 | 285.9 | 359.8 | 423.0 | 467.9 |
| Cash conversion cycle (days) | — | — | — | -40,141.7 | -190,670.7 | -3,018.3 | -1,054.5 | -285.5 | -301.9 | -275.1 |
| Receivables turnover | 17.20 | 15.16 | 14.82 | 14.37 | 16.13 | 18.22 | 15.35 | 14.84 | 16.35 | 14.33 |
| Payables turnover | — | — | — | 0.01 | 0.00 | 1.15 | 1.28 | 1.01 | 0.86 | 0.78 |
| Inventory turnover | — | — | 0.69 | — | — | — | — | 7.33 | 3.70 | 2.18 |
| Asset turnover | 0.06 | 0.05 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 |
| Average receivables | $105.8M | $106.9M | $103.2M | $79.7M | $65.7M | $62.5M | $59.3M | $56.7M | $46.1M | $37.6M |
| Average payables | — | — | — | $11.77B | $11.78B | $186.3M | $161.3M | $149.0M | $119.6M | $89.1M |
| Average inventory | — | — | $744.8M | −$1.92B | −$3.07B | −$1.60B | −$447.1M | $20.6M | $27.9M | $31.9M |
| Intangibles / total assets | 6.1% | 6.3% | 6.3% | 6.5% | 6.5% | 6.9% | 7.7% | 7.9% | 8.0% | 6.1% |
Computed from UBSI's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
UBSI valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), United Bankshares traded at 11.7 times earnings, against a 10-year median of 13.7. Based on the latest twelve months, the trailing P/E is 12.7 and the forward P/E is 13.6. United Bankshares earned a return on equity of 8.9% and a return on invested capital of 23.2% in fiscal 2025. It ended the year with $921.2 million of debt and $5.6 billion in cash and short-term investments, a net cash position of $4.7 billion. It returned $336.0 million to shareholders: $209.0 million in dividends and $127.0 million in share buybacks, 70% of free cash flow. The share count rose 90.8% from 73.9M to 141.0M over 9 years.
See the UBSI income statement, the UBSI chart for price history, or the UBSI stock overview for the latest quote and news.
UBSI key metrics FAQ
What is United Bankshares's P/E ratio?
United Bankshares's trailing P/E ratio is 12.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 13.6. At the end of fiscal 2025 it was 11.7, compared with a 10-year median of 13.7.
What is United Bankshares's EV/EBITDA?
United Bankshares's enterprise value was 1.2 times EBITDA at the end of fiscal 2025 (enterprise value $733.1 million, EBITDA $590.2 million).
What is United Bankshares's return on equity?
United Bankshares's return on equity (ROE) was 8.9% in fiscal 2025: net income of $464.6 million on average shareholders' equity of $5.2 billion.
What is United Bankshares's ROIC?
United Bankshares's return on invested capital was 23.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does United Bankshares have?
United Bankshares had total debt of $921.2 million at the end of fiscal 2025, a debt-to-equity ratio of 0.17 and more cash than debt.
What is United Bankshares's dividend yield?
United Bankshares's forward dividend yield is 3.26%. United Bankshares paid $209.0 million in dividends in fiscal 2025 ($1.48 per share), a payout ratio of 45.0%.
Does United Bankshares buy back its shares?
Yes. United Bankshares spent $127.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +4.0% over the year, to 141.0M..
What is United Bankshares's free cash flow yield?
United Bankshares generated $481.2 million of free cash flow in fiscal 2025, a free cash flow yield of 8.9% on its market value at year-end ($5.4 billion).
What is United Bankshares's current ratio?
United Bankshares's current ratio was 28.21 at the end of fiscal 2025: current assets were 28.21 times current liabilities.