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MARKETS / NASDAQ / UBSI
NASDAQ · STATE COMMERCIAL BANKS · LARGE CAP

United Bankshares Inc. UBSI

18 fiscal years on record · USD · FY2025 reported · SEC filings only
17 YEARS OF DIVIDEND GROWTH
$464.6M
▲ 24.6% YoY
$481.2M
▲ 11.0% YoY
In brief

What this company does

As of December 31, 2025 and 2024, United's business activities were confined to one operating segment, United Bank, and one reportable segment, community banking. United also owns nonbank subsidiaries that engage in other community banking services such as asset management, real property title insurance, financial planning, mortgage banking, and brokerage services. United was incorporated on March 26, 1982, organized on September 9, 1982, and began conducting business on May 1, 1984 with the acquisition of three wholly-owned subsidiaries, and it has acquired thirty-three banking institutions since its formation in 1982.

Written from the business description in UNITED BANKSHARES INC/WV's annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
—
Revenue, FY2025 · full 18-year series below
Revenue $M Net income $M
FY2022 · Revenue 312.0 · Net income 379.6
200M2008201120142017202020232025
Compound annual growth
+4.1%
+7.0%
+10.0%
+12.9%
+13.2%
+5.3%
+6.4%
+5.1%
+4.7%
+1.1%
+1.3%
+1.5%
+1.5%
+8.5%
+12.9%
+14.2%
+13.2%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
—
Operating margin Net margin
FY2022 · Operating 152.5% · Net 121.7%
50%100%150%2008201120142017202020232025
ROE
FY2025 · ROE 8.9%
5%10%2008201120142017202020232025
Gross margin—
Operating margin—
Net margin—
Return on assets1.5%
EBITDAUSD 600.2M

Each USD of equity produced 9 cents of profit this year.

Cash & shareholders
USD 335.2M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 481.2
250.0M500.0M2008201120142017202020232025
Net buybacks $M Dividends $M
FY2025 · Dividends 209.0 · Net buybacks 126.2
200M-80M-160MDividendsNet buybacks2008201120142017202020232025
Dividends paidUSD 209.0M
Net buybacksUSD 126.2M
Share of profit72.2%
Consecutive raises17 years

USD 209.0M in dividends and USD 126.2M in buybacks — 72% of the year's profit went back to shareholders.

Total assetsUSD 33.7B
EquityUSD 5.5B
CashUSD 2.5B
Gross debtUSD 730.4M
Net debtUSD -1.8B
DepositsUSD 27.1B

The company holds more cash than debt.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B···0.30.30.30.30.2··········
Operating income $B0.60.50.50.50.50.40.30.30.30.20.20.20.1·····
EBITDA $B0.60.50.50.50.50.40.30.30.30.20.20.20.1·····
Income tax $B0.10.10.10.10.10.10.10.10.10.10.10.10.00.00.00.00.00.0
Net income $B0.50.40.40.40.40.30.30.30.20.10.10.10.10.10.10.10.10.1
Free cash flow $B0.50.40.40.70.60.10.10.30.20.20.20.10.10.10.10.10.00.1
EPS, diluted $3.272.752.712.802.832.402.552.451.541.991.981.921.701.641.611.651.552.00
Dividend / sh $1.491.481.451.441.411.401.371.361.331.321.291.281.251.241.211.201.171.16
Payout %455453514956535681666464737572737558
ROE %8.97.67.98.28.27.57.97.95.57.58.29.68.48.48.69.39.011.6

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 54 reconciliationsAUDITED

Reconciled in 19 of 19 fiscal years. 3 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityState Commercial Banks
Listed onNASDAQ
Incorporated inWest Virginia
Fiscal year endsDecember 31
Data on record since2007

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