First United Corporation

FUNC

FUNCFirst United Corporation US flag

NASDAQ Global Select

39.04

USD

+0.17

- -

251.68MMarket Cap

Income Statement (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	55	54	52	50	50	52	54	59	63	67	72	76	71	80	89
+ Sales & Services Revenue	55	54	52	50	50	52	54	59	63	67	72	76	71	80	89
- Cost of Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cost of Goods & Services	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Profit	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Selling, General & Admin	23	21	22	22	23	22	23	25	25	23	26	26	30	31	32
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	-23	-21	-22	-22	-23	-22	-23	-25	-25	-23	-26	-26	-30	-31	-32
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Non-Operating (Income) Loss	-3	-6	-9	-7	-19	-10	-12	-13	-16	-18	-26	-33	-19	-27	-33
+ Interest Expense, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-3	-6	-9	-7	-19	-10	-12	-13	-16	-18	-26	-33	-19	-27	-33
Pretax Income	3	6	9	7	19	10	12	13	16	18	26	33	19	27	33
- Income Tax Expense (Benefit)	-1	1	2	1	6	3	7	3	3	4	7	8	4	7	8
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	4	5	6	6	13	7	5	11	13	14	20	25	15	21	25
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	4	5	6	6	13	7	5	11	13	14	20	25	15	21	25
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	4	5	6	6	13	7	5	11	13	14	20	25	15	21	25
- Preferred Dividends	2	2	2	3	3	2	1	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	2	3	5	3	10	5	4	11	13	14	20	25	15	21	25
EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA	3	2	2	2	2	2	2	2	3	4	3	4	5	4	3
EBITDA Margin (%)	4.78	3.69	3.96	3.91	3.53	3.24	3.52	4.1	5.37	5.28	4.77	4.82	6.89	4.76	3.44
EBITA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Profit Margin (%)	6.63	8.64	12.56	11.3	25.95	13.92	9.77	17.95	20.78	20.57	27.48	33.11	21.12	25.78	27.59
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	1.45	0.43	0.32	0.18	0.27	0.44	0.52	0.58	0.6	0.78	0.82	0.92
Depreciation Expense	3	2	2	2	2	2	2	2	3	4	3	4	5	4	3
Basic Weighted Avg Shares	6	6	6	6	6	6	7	7	7	7	7	7	7	7	6
Basic EPS, GAAP	0.33	0.49	0.75	0.48	1.65	0.84	0.58	1.51	1.85	1.98	2.95	3.77	2.27	3.15	3.78
Basic EPS from Cont Ops	0.58	0.75	1.04	0.89	2.08	1.16	0.76	1.51	1.85	1.98	2.95	3.77	2.27	3.15	3.78
Diluted Weighted Avg Shares	6	6	6	6	6	6	7	7	7	7	7	7	7	7	7
Diluted EPS, GAAP	0.33	0.49	0.75	0.48	1.65	0.84	0.58	1.51	1.85	1.98	2.95	3.76	2.26	3.15	3.77
Diluted EPS from Cont Ops	0.58	0.75	1.04	0.89	2.08	1.16	0.76	1.51	1.85	1.98	2.95	3.76	2.26	3.15	3.77

Balance Sheet (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash, Cash Equivalents & STI	310	306	380	257	222	203	230	161	181	376	402	200	147	101	152
+ Cash & Cash Equivalents	65	83	43	35	52	63	84	24	50	149	116	74	50	78	132
+ ST Investments	245	223	337	221	170	140	146	138	131	227	287	126	97	23	20
+ Accounts & Notes Receiv	29	25	29	22	19	21	21	20	16	14	13	6	7	7	18
+ Accounts Receivable, Net	29	25	29	22	19	21	21	20	16	6	5	6	7	7	8
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	7	9	- -	- -	- -	10
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	-339	-331	-408	-278	-242	-224	-252	-182	-197	-390	-416	-206	-154	-109	-169
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip, Net	31	29	27	26	25	27	31	38	41	39	37	37	33	31	31
+ Property, Plant & Equip	53	53	52	51	51	52	54	60	64	64	64	67	64	66	64
- Accumulated Depreciation	22	24	25	25	26	25	23	23	22	24	27	30	31	34	33
+ LT Investments & Receivables	245	227	340	331	276	237	240	232	225	295	343	362	311	37	23
+ LT Investments	245	227	340	331	276	237	240	232	225	295	343	362	311	37	23
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	-276	-257	-367	-356	-301	-264	-271	-270	-267	-334	-380	-398	-344	-68	-54
+ Total Intangible Assets	14	11	11	11	11	11	11	11	11	11	12	12	12	12	11
+ Goodwill	13	11	11	11	11	11	11	11	11	11	12	12	- -	- -	- -
+ Other Intangible Assets	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	12	12	11
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	-290	-268	-378	-367	-312	-275	-282	-281	-278	-345	-392	-411	-356	-80	-66
Total Assets	1,391	1,321	1,334	1,332	1,323	1,318	1,336	1,384	1,442	1,733	1,730	1,848	1,906	1,973	2,087
+ Payables & Accruals	23	23	28	20	21	23	- -	1	1	1	1	1	1	2	3
+ Accounts Payable	23	23	28	20	21	23	19	20	20	17	16	- -	1	- -	1
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	- -	- -	- -	- -	- -	-19	-19	-19	-16	-15	1	1	1	2
+ ST Debt	37	- -	- -	- -	- -	- -	- -	40	- -	- -	- -	- -	- -	50	- -
+ ST Borrowings	37	- -	- -	- -	- -	- -	- -	40	- -	- -	- -	- -	- -	50	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	-59	-23	-28	-20	-21	-23	- -	-41	-1	-1	-1	-1	-1	-52	-3
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	-59	-23	-28	-20	-21	-23	- -	-41	-1	-1	-1	-1	-1	-52	-3
Total Current Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Debt	207	183	183	183	148	132	121	101	104	104	34	33	112	122	97
+ LT Borrowings	207	183	183	183	148	132	121	101	101	101	31	31	111	121	96
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	3	3	3	2	2	1	1
+ Other LT Liabilities	-207	-183	-183	-183	-148	-132	-121	-101	-104	-104	-34	-33	-112	-122	-97
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	9	10	7	10	8	9
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	-207	-183	-183	-183	-148	-132	-121	-101	-104	-113	-44	-40	-122	-131	-106
Total Noncurrent Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Liabilities	1,294	1,222	1,232	1,223	1,203	1,204	1,228	1,267	1,316	1,602	1,588	1,696	1,744	1,794	1,884
+ Preferred Equity and Hybrid Capital	30	30	30	30	30	20	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	22	22	22	22	22	22	32	32	32	30	24	24	24	21	22
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	22	22	22	22	22	22	32	32	32	30	24	24	24	20	22
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	66	69	74	77	88	93	101	109	119	130	145	166	174	189	207
+ Other Equity	-21	-22	-24	-20	-19	-21	-25	-24	-26	-29	-27	-39	-36	-30	-25
Equity Before Minority Interest	97	99	102	109	121	114	108	117	126	131	142	152	162	179	204
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	97	99	102	109	121	114	108	117	126	131	142	152	162	179	204
Total Liabilities & Equity	1,391	1,321	1,334	1,332	1,323	1,318	1,336	1,384	1,442	1,733	1,730	1,848	1,906	1,973	2,087
Shares Outstanding	6	6	6	6	6	6	7	7	7	7	7	7	7	6	6
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	3	3	3	2	2	1	1
Net Debt	179	100	140	147	95	68	37	117	51	-49	-85	-43	61	93	-36
Net Debt to Equity	184.99	100.77	137.03	135.01	78.99	60.18	34.3	100.28	40.46	-37.01	-59.75	-28.58	37.79	51.65	-17.52
Tangible Common Equity Ratio	3.8	4.43	4.6	5.15	6.08	6.33	7.35	7.73	8.03	6.97	7.56	7.59	7.91	8.54	9.26
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Cash Flow Statement (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	4	5	6	6	13	7	5	11	13	14	20	25	15	21	25
+ Depreciation & Amortization	3	2	2	2	2	2	2	2	3	4	3	4	5	4	3
+ Non-Cash Items	41	8	4	2	4	4	10	3	-1	1	-2	-2	1	- -	3
+ Stock-Based Compensation	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1	- -	1
+ Deferred Income Taxes	-2	- -	1	1	4	2	9	1	1	1	1	1	-1	-1	-1
+ Asset Impairment Charge	2	1	3	1	2	- -	- -	1	1	- -	- -	- -	- -	- -	2
+ Other Non-Cash Adj	41	6	- -	1	-2	1	- -	- -	-4	- -	-3	-3	2	- -	1
+ Chg in Non-Cash Work Cap	16	1	6	-6	3	-1	-4	2	1	-2	-1	- -	1	-2	-11
+ (Inc) Dec in Accts Receiv	12	2	1	7	4	-5	-8	- -	- -	-7	-2	1	-5	3	-13
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	4	-1	4	-13	-1	4	4	2	1	5	- -	-1	6	-4	2
+ Inc (Dec) in Other	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	63	15	19	4	22	11	13	18	16	16	20	27	22	22	19
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	1	1	- -	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	1	1	- -	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	-1	-1	-1	-1	-4	-7	-9	-4	-2	-1	-4	- -	-2	-4
+ Acq of Fixed Prod Assets	- -	-1	-1	-1	-1	-4	-7	-9	-4	-2	-1	-4	- -	-2	-4
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	- -	- -	- -	- -	9	- -	- -	-3	-7	- -	-1	-4	- -
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	9	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	-3	-7	- -	-1	-4	- -
+ Net Change in LT Investment	-14	18	-125	28	59	36	-1	9	9	-70	-54	-42	50	41	-4
+ Dec in LT Investment	165	117	81	189	110	102	44	20	57	136	80	32	54	53	22
+ Inc in LT Investment	-178	-99	-205	-160	-51	-66	-45	-11	-48	-206	-134	-73	-4	-11	-26
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-1	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-1	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	29	58	61	-30	-39	-20	-1	-113	-38	-120	27	-127	-131	-78	-40
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	15	76	-64	-2	19	12	-8	-114	-33	-191	-28	-172	-82	-38	-48
+ Dividends Paid	- -	- -	- -	-9	-3	-2	-1	-2	-3	-4	-4	-4	-5	-5	-6
+ Net Cash From Debt	-36	-24	- -	- -	-35	-16	-11	-20	- -	- -	-70	- -	80	10	-25
+ Cash From Debt	- -	20	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	80	90	- -
+ Repayments of Debt	-36	-44	- -	- -	-35	-16	-11	-20	- -	- -	-70	- -	- -	-80	-25
+ Other Financing Activities	-276	-49	5	- -	13	6	18	57	46	281	56	108	-39	44	113
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-312	-73	5	-9	-24	-12	15	35	43	275	-25	104	35	45	82
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-234	18	-40	-8	17	11	20	-60	26	99	-34	-41	-25	29	53
EBITDA	3	2	2	2	2	2	2	2	3	4	3	4	5	4	3
EBITDA Margin (%)	4.78	3.69	3.96	3.91	3.53	3.24	3.52	4.1	5.37	5.28	4.77	4.82	6.89	4.76	3.44
Free Cash Flow	63	14	18	3	21	8	6	9	12	15	19	23	22	20	15
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -
Free Cash Flow to Firm	- -	14	18	3	21	8	6	9	12	15	19	23	22	20	15
Free Cash Flow to Equity	25	-11	17	1	-17	-20	-25	-11	12	15	-51	23	102	30	-10
Free Cash Flow per Basic Share	10.09	2.23	2.84	0.51	3.33	1.21	0.92	1.24	1.75	2.08	2.82	3.46	3.33	3.12	2.37
Price/Free Cash Flow	0.31	2.71	2.45	11.64	3.1	6.48	6.19	4.06	8.41	6.1	5.94	4.35	6.86	9.11	10.43
Cash Flow to Net Income	17.38	3.26	2.88	0.69	1.71	1.58	2.45	1.72	1.25	1.17	1.01	1.06	1.49	1.08	0.79
Capital Expenditures	- -	-1	-1	-1	-1	-4	-7	-9	-4	-2	-1	-4	- -	-2	-4