Stocks UBOH Financial statements
Financial statementsUNITED BANCSHARES INC/OH financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data UNITED BANCSHARES INC/OH files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.61 | 1.64 | 1.61 | 1.49 | 1.1 | 1.09 | 1.23 | |||
| Selling and marketing | 0.46 | 0.41 | 0.48 | 0.61 | 1.06 | 1.79 | 1.8 | |||
| Interest expense | 3.25 | 2.67 | 2.08 | 2.23 | 3.12 | 6.16 | 8.92 | 6.99 | 3.07 | 3.26 |
| Pre-tax income | 5.88 | 5.39 | 7.32 | 7.27 | 6.73 | 9.75 | 12.3 | 16.7 | 16.1 | 12.5 |
| Income tax | 1.24 | 1.08 | 1.41 | 1.74 | 2.88 | 1.53 | 1.62 | 2.92 | 2.49 | 1.21 |
| Net income | 4.64 | 4.31 | 5.92 | 5.52 | 3.85 | 8.22 | 10.7 | 13.8 | 13.6 | 11.3 |
| EPS, basic | 1.35 | 1.27 | 1.77 | 1.68 | 1.18 | 2.51 | 3.26 | 4.21 | 4.14 | 3.47 |
| EPS, diluted | 1.35 | 1.27 | 1.77 | 1.68 | 1.18 | 2.51 | 3.25 | 4.16 | 4.07 | 3.46 |
| Shares, basic (weighted) | 3.45 | 3.41 | 3.34 | 3.29 | 3.27 | 3.27 | 3,271 | 3.27 | 3.28 | 3.26 |
| Shares, diluted (weighted) | 3.45 | 3.41 | 3.34 | 3.29 | 3.27 | 3.27 | 3,277 | 3.31 | 3.34 | 3.26 |
| Dividend per share | 0.20 | 0.35 | 0.36 | 0.44 | 0.48 | 0.48 | 0.00 | 0.51 | 0.73 | 0.84 |
Balance sheet
| FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 22.4 | 32.4 | 22.9 | 14.2 | 27.3 | 16.5 | 26.4 | 57 | 75.2 | 30.7 |
| Property, plant and equipment | 9.17 | 12.4 | 12 | 13.4 | 19.3 | 19 | 18.8 | 19.3 | 21.8 | 24.1 |
| Goodwill | 8.55 | 10.1 | 10.1 | 10.1 | 25.2 | 28.6 | 28.6 | 28.6 | 28.6 | 28.6 |
| Intangible assets | 0.13 | 1.04 | 0.9 | 0.77 | 1.13 | 0.95 | 0.79 | 0.64 | 0.5 | 0.36 |
| Total assets | 556 | 650 | 609 | 633 | 780 | 830 | 880 | 979 | 1,077 | 1,087 |
| Total liabilities | 493 | 582 | 537 | 561 | 705 | 749 | 785 | 867 | 957 | 1,005 |
| Paid-in capital | 14.7 | 14.7 | 14.7 | 14.7 | 14.8 | 15 | 15.3 | 15.4 | 16.3 | 17 |
| Retained earnings | 50.8 | 53.9 | 58.6 | 62.7 | 65 | 71.7 | 80.6 | 92.7 | 104 | 112 |
| Treasury stock | -4.87 | -5.99 | -6.91 | -7.73 | -7.71 | -7.68 | -7.73 | -7.67 | -8.9 | -12.3 |
| Other comprehensive income | -1.36 | 1.41 | 1.4 | -0.87 | -0.12 | -1.76 | 2.87 | 7.36 | 3.99 | -38.4 |
| Shareholders' equity | 63 | 67.8 | 71.6 | 72.6 | 75.7 | 80.9 | 94.8 | 112 | 119 | 82.7 |
| Total equity | 63 | 67.8 | 71.6 | 72.6 | 75.7 | 80.9 | 94.8 | 112 | 119 | 82.7 |
| Total liabilities and equity | 556 | 650 | 609 | 633 | 780 | 830 | 880 | 979 | 1,077 | 1,087 |
| Shares outstanding | 3.37 | 3.27 | 3,268 | 3.27 | 3.15 |
Cash flow statement
| FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | 4.64 | 4.31 | 5.92 | 5.52 | 3.85 | 8.22 | 10.7 | 13.8 | 13.6 | 11.3 |
| Depreciation and amortization | 0.65 | 0.7 | 0.66 | 0.91 | 0.94 | 1.05 | 1.24 | 1.5 | 1.54 | 1.61 |
| Stock-based compensation | -0.05 | -0.09 | ||||||||
| Deferred income tax | 1.03 | 0.3 | 0.86 | 0.79 | 2.66 | 1.74 | 0.53 | -0.8 | 1.38 | 1.62 |
| Cash from operations | 5.1 | 4.83 | 6.89 | 6.61 | 5.86 | 5.15 | 3.62 | 17.2 | 26.4 | 16.8 |
| Capital expenditures | -0.39 | -0.31 | -0.31 | -2.4 | -4.18 | -0.53 | -0.75 | -1.58 | -3.96 | -3.58 |
| Acquisitions | 6.63 | -24.7 | -3.41 | |||||||
| Purchases of investments | -54 | -63.1 | -153 | -51.6 | ||||||
| Sales and maturities of investments | 36.7 | 27.2 | 30.8 | 30.1 | 16.6 | 16.1 | 26.7 | 41.6 | 34.4 | 23.3 |
| Cash from investing | -18.1 | 2.01 | 30.7 | -35.9 | -39.9 | -58.4 | -26.1 | -65.1 | -96.5 | -103 |
| Share buybacks | -0.07 | -1.14 | -0.93 | -0.83 | -0.1 | 0 | -0.37 | -2.88 | ||
| Dividends paid | -0.69 | -1.19 | -1.2 | -1.45 | -1.57 | -1.57 | -1.7 | -1.67 | -2.39 | -2.75 |
| Cash from financing | -14.5 | 3.1 | -47.1 | 20.5 | 47.1 | 42.5 | 32.4 | 78.5 | 88.2 | 41.7 |
| Net change in cash | -27.5 | 9.95 | -9.43 | -8.74 | 13.1 | -10.8 | 9.94 | 30.6 | 18.2 | -44.5 |
| Free cash flow | 4.7 | 4.52 | 6.58 | 4.21 | 1.68 | 4.62 | 2.87 | 15.6 | 22.5 | 13.2 |
| Interest paid | 3.26 | 2.69 | 2.23 | 2.2 | 3.39 | 6.13 | 8.99 | 7.3 | 3.17 | 3.17 |
| Income taxes paid | 0.35 | 0.66 | 0.67 | 0.86 | 0.43 | 3.26 | 0.7 | 4.05 | 2.37 | 0 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Pre-tax margin | 1,017.0% | Pre-tax income / revenue. |
| Net margin | 918.0% | Net income / revenue. |
| FCF margin | 1,071.0% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 1,362.0% | Cash from operations / revenue. |
| Effective tax rate | 9.7% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 11.2% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 1.0% | Net income / average total assets. |
| Capex / revenue | 290.4% | Capital expenditures / revenue. |
| D&A / revenue | 130.8% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 13.0% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | -6.1% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | -5.5% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | -16.7% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | 2.0% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Net income CAGR, 5y | 24.1% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | -15.0% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | 2.1% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 24.0% | Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | -36.5% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | 66.7% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 23.4% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | -41.3% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | 66.3% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Free cash flow CAGR, 5y | 51.1% | Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Dividend per share growth, 1y | 15.1% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | 1,089.0% | Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Dividend per share CAGR, 5y | 11.8% | Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | -30.6% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | -4.4% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | 1.8% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 1.0% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 7.3% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 6.9% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | -2.2% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | -90.0% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | -0.0% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Liabilities / assets | 92.4% | Total liabilities / total assets. |
| Goodwill and intangibles / assets | 2.7% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $53.7M | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.00x | Revenue / average total assets. |
| Fixed asset turnover | 0.05x | Revenue / average property, plant and equipment. |
| FCF conversion | 116.7% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 21.3% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $3.46 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| EPS, basic | $3.47 | Net income per basic share, as reported (split-adjusted). |
| Revenue per share | $0.38 | Revenue / diluted weighted shares. |
| FCF per share | $4.04 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $5.14 | Cash from operations / diluted weighted shares. |
| Book value per share | $26.22 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $17.03 | Tangible book value / shares outstanding. |
| Cash per share | $9.73 | (Cash + short-term investments) / shares outstanding. |
| Dividend per share | $0.84 | Dividend declared per common share (paid, when declared is not tagged). |
| Payout ratio | 24.3% | Dividends paid / net income, when net income is positive. |
| Dividends / FCF | 20.8% | Dividends paid / free cash flow, when free cash flow is positive. |
| Buybacks / FCF | 21.8% | Share buybacks / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $125.4M | Share price x shares outstanding. |
| Enterprise value | $94.8M | Market cap + total debt - cash - short-term investments. |
| P/E | 11.1x | Market cap / net income. Only when net income is positive. |
| P/S | 102x | Market cap / revenue. |
| P/B | 1.52x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 2.34x | Market cap / tangible book value, when positive. |
| P/FCF | 9.50x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 7.48x | Market cap / cash from operations, when positive. |
| EV/Sales | 76.9x | Enterprise value / revenue. |
| EV/FCF | 7.18x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 10.5% | Free cash flow / market cap. |
| Earnings yield | 9.0% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 2.2% | Dividends paid over the period / market cap. |
| Shareholder yield | 4.5% | (Dividends paid + share buybacks) / market cap. |
| PEG | 5.26x | P/E / EPS growth per year over 3 years (in percent). Only when both are positive. |
What was UNITED BANCSHARES INC/OH's revenue in fiscal 2022?
UNITED BANCSHARES INC/OH reported revenue of $1.2M for fiscal 2022, 13% higher than the year before.
Was UNITED BANCSHARES INC/OH profitable in fiscal 2022?
Yes. Net income was $11.3M, a net margin of 918%.
How much free cash flow did UNITED BANCSHARES INC/OH generate in fiscal 2022?
Cash from operations of $16.8M minus capital expenditures of $3.6M left free cash flow of $13.2M.