What is United Bancshares Inc worth?
With the base-case assumptions below, a discounted cash flow model on United Bancshares Inc's reported free cash flow gives $50.54 per share. The share price was $40.00 on September 25, 2026, 21% 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 | -10.0% | 10.0% | $35.51 | -11% |
| Base | -5.0% | 9.0% | $50.54 | +26% |
| Bull | 0.0% | 8.0% | $78.57 | +96% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $60.55 | $63.49 | $67.09 | $71.58 | $77.36 |
| 8.0% | $53.17 | $55.08 | $57.33 | $60.04 | $63.34 |
| 9.0% | $47.73 | $49.04 | $50.54 | $52.30 | $54.38 |
| 10.0% | $43.56 | $44.49 | $45.54 | $46.74 | $48.13 |
| 11.0% | $40.25 | $40.93 | $41.69 | $42.54 | $43.51 |
Where the presets come from
Base: years 1 to 5 grow at United Bancshares Inc's revenue growth rate over the last 5 fiscal years (-5.5% 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