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IntroductionThe concept of valuationRevenue and revenue growthVariable costsFixed costsProduction assets

Intrinsic value of First United Corporation (FUNC)

Previous Close$17.05
Intrinsic Value$17.01*
Upside potential  -0%
Previous Close
$17.05
Intrinsic Value
$17.01*
Potential        
-0%
* Our model cannot be used “out of the box” for the valuation of this stock. You can still do your own valuation by changing the valuation input parameters.

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh17.01 17.01

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

Registered users can save their valuation input data

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

Company description

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. The company offers various deposit products, including checking accounts, savings and money market accounts, regular and individual retirement accounts (IRA) certificates of deposit, Christmas savings accounts, college savings accounts, and health savings accounts; Certificate of Deposit Account Registry Service program and Insured Cash Sweep program to municipalities, businesses, and consumers; and commercial customers packages, which include treasury management, cash sweep, and various checking opportunities. It also provides loans, such as commercial loans secured by real estate, commercial equipment, vehicles, or other assets of the borrower; commercial real estate loans for residential and commercial development, agricultural purpose properties, and service industry buildings; residential mortgage loans; home equity lines of credit; residential real estate construction loans; indirect and direct auto loans; and other secured and unsecured lines of credit and term loans. In addition, the company offers various trust services, including personal trust, investment agency accounts, charitable trusts, retirement accounts that consist of IRA roll-overs, 401(k) accounts and defined benefit plans, estate administration, and estate planning services; insurance products; brokerage services; and safe deposit, and night depository facilities. It operates 25 banking offices, one customer care center, and 32 automated teller machines in Allegany, Frederick, Garrett, and Washington counties in Maryland; and in Mineral, Berkeley, and Monongalia counties in West Virginia. First United Corporation was founded in 1900 and is headquartered in Oakland, Maryland.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %8.7NaN
Revenue, $73NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m47NaN
Operating income, $m26NaN
EBITDA, $m27NaN
Interest expense (income), $mNaN
Earnings before tax, $m26NaN
Tax expense, $m7NaN
Net income, $m20NaN

BALANCE SHEET

Cash and short-term investments, $m116NaN
Total assets, $m1736NaN
Adjusted assets (=assets-cash), $m1620NaN
Average production assets, $m50NaN
Working capital, $m-276NaN
Total debt, $m122NaN
Total liabilities, $m1594NaN
Total equity, $m142NaN
Debt-to-equity ratio0.859NaN
Adjusted equity ratio0.052NaN

CASH FLOW

Net income, $m20NaN
Depreciation, amort., depletion, $m1NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m15NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-1NaN
Free cash flow, $m17NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m-276
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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