United Community Banks, Inc. (UCB) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-43.4%

$21.38

vs $37.80 price

Levered DCF

$29.50

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

-0.51

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	11.87×	15.84×	19×	13.41×	12.1×	14.89×	13.37×	10.37×
P/B	1.04×	1.13×	1.06×	1.33×	1.42×	1.18×	1.5×	1.17×
P/S	2.47×	2.61×	2.66×	3.88×	4.41×	3.4×	3.84×	2.96×
EV / EBITDA	8.12×	10.44×	9.95×	10.64×	3.23×	5.4×	8.22×	7.33×
Gross margin	66.0%	59.4%	60.6%	86.6%	101.1%	80.4%	85.0%	87.7%
Operating margin	27.5%	21.8%	18.0%	38.3%	48.6%	30.1%	37.2%	37.4%
Net margin	21.4%	17.0%	14.5%	29.9%	37.7%	23.6%	29.0%	28.8%
Current ratio	47.49×	0.21×	0.19×	0.2×	0.37×	0.32×	0.26×	0.28×
Debt / equity	0.06×	0.13×	0.1×	0.44×	0.11×	0.16×	0.13×	0.29×
Interest coverage	0.89×	0.59×	0.55×	5.86×	11.69×	3.72×	2.87×	3.52×
Dividend yield	3.2%	3.1%	3.2%	2.6%	2.3%	2.6%	2.2%	2.4%
Payout ratio	37.6%	47.0%	59.6%	33.8%	27.3%	38.1%	28.6%	25.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.0%	7.4%	5.8%	10.3%	12.1%	8.2%	11.4%	11.4%
Return on invested capital	1.2%	5.9%	4.7%	7.2%	10.8%	6.9%	10.0%	8.7%
Return on assets	1.2%	0.9%	0.7%	1.2%	1.3%	0.9%	1.4%	1.3%
Free cash flow yield	10.7%	7.8%	6.4%	15.7%	10.5%	5.9%	5.4%	14.8%
Earnings yield	8.6%	6.5%	5.5%	7.7%	8.5%	6.9%	7.5%	9.7%
Enterprise value	$3.8B	$3.8B	$2.8B	$4.3B	$1.1B	$1.1B	$2.2B	$1.8B
Net debt / EBITDA	0.01×	-0.19×	-2.45×	1.69×	-5.91×	-6.38×	-1.15×	0.4×
Cash conversion cycle (days)	20	21	25	29	22	25	19	22