What is First United Corp worth?
With the base-case assumptions below, a discounted cash flow model on First United Corp's reported free cash flow gives $52.94 per share. The share price was $43.29 on September 25, 2026, 18% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 0.5% | 10.0% | $36.27 | -16% |
| Base | 5.5% | 9.0% | $52.94 | +22% |
| Bull | 10.5% | 8.0% | $86.17 | +99% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $65.17 | $68.89 | $73.45 | $79.14 | $86.45 |
| 8.0% | $56.05 | $58.46 | $61.32 | $64.74 | $68.93 |
| 9.0% | $49.38 | $51.03 | $52.94 | $55.16 | $57.79 |
| 10.0% | $44.30 | $45.47 | $46.80 | $48.32 | $50.08 |
| 11.0% | $40.30 | $41.16 | $42.12 | $43.20 | $44.43 |
Where the presets come from
Base: years 1 to 5 grow at First United Corp's revenue growth rate over the last 5 fiscal years (5.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions