Latest Ratios: P/E Ratio 10.1x · EV/EBITDA 8.0x · ROE 18.1%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $575M | $529M | $445M | $306M | $293M | $277M | $190M | $249M | $227M | $212M | $150M |
| Enterprise Value | $625M | $578M | $495M | $478M | $577M | $88M | $380M | $521M | $427M | $474M | $274M |
| P/E Ratio → | 10.10 | 9.12 | 10.74 | 7.71 | 7.61 | 7.65 | 8.01 | 10.55 | 10.33 | 16.46 | 11.38 |
| P/S Ratio | 3.05 | 2.81 | 2.73 | 2.03 | 2.70 | 2.89 | 2.09 | 2.96 | 2.96 | 3.37 | 2.73 |
| P/B Ratio | 1.69 | 1.53 | 1.51 | 1.17 | 1.22 | 1.35 | 1.09 | 1.55 | 1.64 | 1.80 | 1.41 |
| P/FCF | 12.97 | 11.92 | 9.41 | 6.66 | 7.10 | 8.85 | 8.72 | 7.66 | 6.11 | 16.41 | — |
| P/OCF | 12.81 | 11.77 | 9.27 | 6.52 | 6.86 | 8.51 | 8.50 | 7.50 | 5.87 | 14.69 | 17.10 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.07 | 3.04 | 3.17 | 5.33 | 0.91 | 4.17 | 6.20 | 5.58 | 7.53 | 4.99 |
| EV / EBITDA | 7.98 | 7.38 | 8.69 | 8.63 | 10.64 | 1.76 | 11.50 | 16.32 | 14.60 | 20.02 | 12.95 |
| EV / EBIT | 8.27 | 7.66 | 9.11 | 9.02 | 11.21 | 1.82 | 12.20 | 17.19 | 15.63 | 21.13 | 13.41 |
| EV / FCF | — | 13.04 | 10.47 | 10.40 | 14.00 | 2.80 | 17.45 | 16.04 | 11.51 | 36.62 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 67.9% | 67.9% | 62.5% | 65.7% | 86.2% | 91.7% | 76.4% | 76.0% | 79.6% | 82.4% | 81.8% |
| Operating Margin | 40.1% | 40.1% | 33.4% | 35.2% | 47.5% | 50.3% | 34.2% | 36.0% | 35.7% | 35.6% | 37.2% |
| Net Profit Margin | 30.8% | 30.8% | 25.4% | 26.3% | 35.5% | 37.7% | 26.0% | 28.1% | 28.7% | 20.5% | 24.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.1% | 18.1% | 14.9% | 15.9% | 17.3% | 19.0% | 14.1% | 15.8% | 17.1% | 11.5% | 14.3% |
| ROA | 2.1% | 2.1% | 1.6% | 1.6% | 1.7% | 1.8% | 1.3% | 1.4% | 1.4% | 1.0% | 1.2% |
| ROIC | 10.0% | 10.0% | 7.1% | 6.3% | 8.6% | 11.1% | 5.6% | 5.6% | 5.4% | 5.1% | 7.0% |
| ROCE | 13.0% | 13.0% | 9.2% | 8.4% | 11.5% | 14.7% | 7.4% | 7.5% | 7.2% | 7.2% | 10.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.77 | 0.77 | 0.78 | 1.40 | 1.67 | 0.27 | 1.22 | 1.83 | 1.59 | 2.42 | 1.38 |
| Debt / EBITDA | 3.40 | 3.40 | 4.05 | 6.62 | 7.36 | 1.12 | 6.44 | 9.18 | 7.53 | 12.05 | 6.90 |
| Net Debt / Equity | — | 0.14 | 0.17 | 0.66 | 1.19 | -0.92 | 1.09 | 1.69 | 1.45 | 2.22 | 1.17 |
| Net Debt / EBITDA | 0.63 | 0.63 | 0.88 | 3.11 | 5.24 | -3.80 | 5.75 | 8.52 | 6.85 | 11.05 | 5.86 |
| Debt / FCF | — | 1.12 | 1.07 | 3.74 | 6.90 | -6.05 | 8.73 | 8.38 | 5.40 | 20.22 | — |
| Interest Coverage | 1.33 | 1.33 | 0.95 | 1.09 | 4.84 | 6.22 | 2.15 | 1.68 | 2.02 | 2.37 | 2.33 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.16 | 0.16 | 0.10 | 0.15 | 0.13 | 0.18 | 0.05 | 0.07 | 0.06 | 0.08 | 0.07 |
| Quick Ratio | 0.16 | 0.16 | 0.10 | 0.15 | 0.13 | 0.18 | 0.05 | 0.07 | 0.06 | 0.08 | 0.07 |
| Cash Ratio | 0.09 | 0.09 | 0.09 | 0.10 | 0.06 | 0.14 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 |
| Asset Turnover | — | 0.06 | 0.06 | 0.06 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.04 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.0% | 1.1% | 1.1% | 1.5% | 1.5% | 1.3% | 1.7% | 1.3% | 1.2% | 1.1% | 1.0% |
| Payout Ratio | 9.7% | 9.7% | 12.1% | 11.9% | 11.4% | 10.0% | 13.9% | 13.8% | 12.8% | 18.5% | 11.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.9% | 11.0% | 9.3% | 13.0% | 13.1% | 13.1% | 12.5% | 9.5% | 9.7% | 6.1% | 8.8% |
| FCF Yield | 7.7% | 8.4% | 10.6% | 15.0% | 14.1% | 11.3% | 11.5% | 13.1% | 16.4% | 6.1% | — |
| Buyback Yield | 0.9% | 1.0% | 1.4% | 5.1% | 0.0% | 1.5% | 3.9% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.8% | 2.0% | 2.5% | 6.7% | 1.5% | 2.8% | 5.7% | 1.3% | 1.2% | 1.1% | 1.0% |
| Shares Outstanding | — | $10M | $10M | $10M | $11M | $11M | $11M | $11M | $11M | $11M | $10M |
CRE and SBA concentration
As reported in recent market data, UNTY trades at a P/B of 1.76, which appears to reflect a complexity discount stemming from the inherent volatility of its SBA-driven fee income model compared to more traditional regional banking peers with more predictable spread-based revenue streams.
The current valuation suggests that investors are applying a discount to the bank's earnings durability, likely due to the lumpy nature of SBA gain-on-sale revenue. While the P/B multiple is elevated relative to some peers, it may be justified if the market begins to view the bank's specialized lending factory as a sustainable, high-margin franchise rather than a transactional business.
Based on quarterly financial statements, the bank's ROE has fluctuated between 3.5% and 5.3% over the last ten quarters, indicating that profitability is heavily influenced by the interplay between NIM compression and the transactional volatility of non-interest income derived from SBA loan sales.
The DuPont decomposition suggests that Unity Bancorp's profitability is currently constrained by a narrow NIM, which has hovered near 1.0% in recent periods. This implies that the bank's ability to generate superior returns is highly dependent on its efficiency in managing non-interest expenses and the successful execution of its high-yield SBA lending niche.
According to recent regulatory filings, the net interest margin has remained compressed near 1.0% to 1.1%, suggesting that rising deposit costs in the competitive New Jersey market are effectively neutralizing the yield benefits typically captured from the bank's specialized commercial loan portfolio.
The efficiency ratio, which has generally trended between 27% and 31%, demonstrates disciplined cost control despite the revenue volatility. However, investors should monitor whether the bank can maintain this efficiency if funding costs continue to rise, as the current margin profile leaves little room for error in asset pricing.
As indicated by the 2026Q1 equity-to-assets ratio of 0.12, Unity Bancorp maintains a robust capital buffer that appears sufficient to absorb potential volatility stemming from its concentrated exposure to small business and commercial real estate lending markets within the NJ/PA corridor.
This capital position provides the bank with the necessary flexibility to navigate economic cycles without immediate dilution risks. The stability of this ratio suggests that management is prioritizing a conservative balance sheet approach, which is prudent given the inherent risks associated with the bank's specialized lending model.
Market participants frequently misapply the P/E ratio to Unity Bancorp, as this metric is heavily distorted by the periodic, non-recurring spikes in provision expenses and the timing of SBA loan sales, which do not accurately reflect the bank's underlying core operational health.
Investors should instead focus on Pre-Provision Net Revenue (PPNR) to better assess the bank's recurring earnings power. Relying on headline P/E ratios risks misinterpreting the bank's true profitability, as the volatility in credit provisions under the CECL model can create artificial earnings swings that mask the bank's actual performance.
Includes 30+ ratios · 30 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying UNTY stock.
Unity Bancorp, Inc.'s current P/E ratio is 10.1x. The historical average is 16.9x. This places it at the 19th percentile of its historical range.
Unity Bancorp, Inc.'s current EV/EBITDA is 8.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.0x.
Unity Bancorp, Inc.'s return on equity (ROE) is 18.1%. The historical average is 9.4%.
Based on historical data, Unity Bancorp, Inc. is trading at a P/E of 10.1x. This is at the 19th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Unity Bancorp, Inc.'s current dividend yield is 0.96% with a payout ratio of 9.7%.
Unity Bancorp, Inc. has 67.9% gross margin and 40.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Unity Bancorp, Inc.'s Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.