First (FUNC) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

First

NasdaqGS•Financial Services•Banks - Regional

$43.38-0.97(-0.02%)Pre-market

Market Cap

$279.84M

P/E

11.2x

P/S

3.1x

P/B

1.3x

First United Corporation operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals in the United States. It operates through Community Banking and Wealth Management segments. The company offers deposit products, such as checking, savings, money market, individual retirement (IRA), employee benefit, and health savings accounts; regular and IRA certificates of deposit (CD); and demand deposits. It also provides business and personal loans; commercial loans secured by real estate, commercial equipment, and vehicles or other assets of the borrower; residential mortgages; home equity lines of credit; real estate construction loans to builders and individuals for single-family dwellings; and consumer loans, including indirect and direct auto loans, student loans, and other secured and unsecured lines of credit and term loans. In addition, the company offers brokerage; certificate of deposit account registry and IntraFi cash services; treasury management, cash sweep, and various checking opportunities; trust services, such as personal trust, investment agency accounts, charitable trusts, estate administration, and estate planning, as well as retirement accounts, including IRA rollovers, 401(k) accounts, and defined benefit plans; safe deposit and night depository facilities; and insurance products. Further, it provides online, mobile, and digital banking; debit and credit cards; business support; merchant services; remote deposit capture; positive pay; sweep and escrow accounts; check recovery and ordering; equipment loans; floorplan lending; mobile wallet and deposit; credit insights; personal finance; bill pay; CD and trust secured loans; boat and RV loans; and retirement planning services. First United Corporation was founded in 1900 and is headquartered in Oakland, Maryland.

How this company scores

WeakMetricSide Score: 81/100

Grade capped at D — Interest coverage below 1× (1.0x) — earnings cannot cover interest. Strongest: Cash & Earnings Quality (23/25); weakest: Balance Sheet & Red Flags (18/25).

Profitability19/25

Growth21/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality23/25

Strengths

Rising free cash flowStrong marginsLow leverageConsistent free cash flow

Grade capped at D

Interest coverage below 1× (1.0x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 11.2x5y range 4.3x – 12.0x

Currently above its 20-quarter median.

P/S · 3.1x5y range 1.3x – 3.1x

Currently above its 20-quarter median.

P/B · 1.3x5y range 0.6x – 1.3x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Margin Pressure

Watch

Operating margins declined 5.2% — watch for continued compression, which may signal competitive or cost pressure.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $279.84M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $90.43M
Q. Revenue: $23.16M
TTM EBITDA: $35.89M
TTM Op. Income: $33.12M
Q. Op. Income: $7.40M
TTM Net Income: $25.05M
Q. Net Income: $5.67M
EPS: $0.88
Shares Out.: $6.45M

$90.43M in TTM revenue grew 11.0% YoY, reaching $23.16M last quarter. TTM EBITDA of $35.89M and TTM operating income of $33.12M show growth is flowing through to the bottom line. TTM net income of $25.05M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 35.0%
Op. Margin: 31.9%
Net Margin: 24.5%

Op. margin of 31.9% is down 6.1% YoY — costs are rising relative to revenue. Net margin at 24.5% Over the past year, operating margin is down 16% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 11.2x
P/S Ratio: 3.1x
P/B Ratio: 1.3x

At 11.2x P/E, the stock trades below typical market levels. P/S of 3.1x and P/B of 1.3x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is up 32% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.08B
Cash: $85.19M
Long-Term Debt: $30.93M
Book Value: $212.37M
D/E Ratio: 0.1
Debt/EBITDA: 3.8

With $2.08B in assets and $30.93M in long-term debt, D/E is 0.1and book value is $212.37M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 7 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $4.81M
TTM Free Cash Flow: $25.99M
FCF Margin: 28.7%
FCF / Net Income: 1.0

TTM FCF of $25.99M on $4.81M in operating cash flow. The FCF / Net Income ratio of 1.0x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.