What is United Bankshares Inc worth?
With the base-case assumptions below, a discounted cash flow model on United Bankshares Inc's reported free cash flow gives $83.62 per share. The share price was $48.60 on November 10, 2026, 42% 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 | 2.0% | 10.0% | $56.53 | +16% |
| Base | 7.0% | 9.0% | $83.62 | +72% |
| Bull | 12.0% | 8.0% | $134.19 | +176% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $103.25 | $109.25 | $116.60 | $125.77 | $137.57 |
| 8.0% | $88.59 | $92.49 | $97.09 | $102.61 | $109.36 |
| 9.0% | $77.89 | $80.55 | $83.62 | $87.21 | $91.44 |
| 10.0% | $69.74 | $71.63 | $73.78 | $76.23 | $79.06 |
| 11.0% | $63.33 | $64.72 | $66.27 | $68.02 | $69.99 |
Where the presets come from
Base: years 1 to 5 grow at United Bankshares Inc's revenue growth rate over the last 4 fiscal years (6.8% 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