A Business at a Glance
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UNITY BANCORP INC /NJ/
UNTY
$593M
Mkt Cap
$58.04
+2.07%
UNITY BANCORP INC /NJ/ (UNTY) has a current P/E ratio of 11.0, compared to its historical median P/E of 8.9. The stock is currently considered Fair based on its historical valuation range.
UNITY BANCORP INC /NJ/ (UNTY) has a 5-year average return on invested capital (ROIC) of 9.3%. This is below average and may indicate limited pricing power.
UNITY BANCORP INC /NJ/ (UNTY) has a market capitalization of $583M. It is classified as a small-cap stock.
Yes, UNITY BANCORP INC /NJ/ (UNTY) pays a dividend with a trailing twelve-month yield of 0.99%. The company also returns capital through share buybacks, with a buyback yield of 0.92%.
Based on historical P/E analysis, UNITY BANCORP INC /NJ/ (UNTY) appears fair. The current P/E of 11.0 is 23% above its historical median of 8.9. The estimated fair value CAGR (P/E method) is 14.4%.
UNITY BANCORP INC /NJ/ (UNTY) operates in the State Commercial Banks industry, within the Financials sector.
UNITY BANCORP INC /NJ/ (UNTY) reported annual revenue of $188 million in its most recent fiscal year, based on SEC EDGAR filings.
Forward Looking Statements This report, in Item 1, Item 7 and elsewhere, includes forward-looking statements within the meaning of Sections 27A of the Securities Act of 1933, as amended, and 21E of the Securities Exchange Act of 1934, as amended, that involve inherent risks and uncertainties. These forward-looking statements concern the financial condition, results of operations, plans, objectives, future performance and business of Unity Bancorp, Inc. and its subsidiaries, including statements preceded by, followed by or that include words or phrases such as “believes,” “expects,” “anticipates,” “plans,” “trend,” “objective,” “continue,” “remain,” “pattern” or similar expressions or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions. There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 136M | 188M | 164M | 152M | 109M | 97M |
| Net Income | 61M | 58M | 41M | 40M | 38M | 36M |
| EPS | $6.05 | $5.67 | $4.06 | $3.84 | $3.59 | $3.43 |
| Free Cash Flow | 41M | 44M | 47M | 46M | 41M | 31M |
| ROIC | 16.5% | 13.1% | 7.2% | 6.3% | 8.7% | 11.3% |
| Gross Margin | - | 0.0% | - | - | - | - |
| Debt/Equity | -0.02 | 0.12 | 0.32 | 1.66 | 3.08 | 1.02 |
| Dividends/Share | $0.58 | $0.58 | $0.52 | $0.48 | $0.43 | $0.36 |
| Operating Income | 1.7M | 76M | 54M | 53M | 2.8M | 48M |
| Operating Margin | 1.2% | 40.1% | 33.1% | 34.9% | 2.6% | 49.7% |
| ROE | 16.9% | 18.1% | 14.9% | 15.9% | 17.3% | 19.0% |
| Shares Outstanding | 10M | 10M | 10M | 10M | 11M | 11M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 44M | 49M | 58M | 64M | 76M | 85M | 92M | 97M | 109M | 152M | 164M | 188M | 136M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 13M | 14M | 15M | 17M | 20M | 21M | 23M | 25M | 27M | 29M | 30M | 32M | 33M |
| EBIT | 844K | 927K | 985K | 1.1M | 1.2M | 1.3M | 1.5M | 48M | 2.8M | 53M | 54M | 76M | 1.7M |
| Op. Margin | 1.9% | 1.9% | 1.7% | 1.7% | 1.6% | 1.6% | 1.6% | 49.7% | 2.6% | 34.9% | 33.1% | 40.1% | 1.2% |
| Net Income | 6.4M | 9.6M | 13M | 13M | 22M | 24M | 24M | 36M | 38M | 40M | 41M | 58M | 61M |
| Net Margin | 14.5% | 19.4% | 22.7% | 20.3% | 28.7% | 27.8% | 25.7% | 37.3% | 35.4% | 26.2% | 25.2% | 30.8% | 44.6% |
| Non-Recurring | 12K | 0 | 300K | 151K | 0 | 766K | 225K | -4K | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 3.3% | 4.8% | 6.2% | 4.0% | 5.8% | 5.8% | 5.6% | 11.3% | 8.7% | 6.3% | 7.2% | 13.1% | 16.5% |
| ROE | 10.1% | 12.9% | 14.3% | 11.5% | 17.1% | 15.8% | 14.1% | 19.0% | 17.3% | 15.9% | 14.9% | 18.1% | 16.9% |
| ROA | 0.7% | 0.9% | 1.2% | 1.0% | 1.4% | 1.4% | 1.3% | 1.8% | 1.7% | 1.6% | 1.6% | 2.1% | 2.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 12M | 3.0M | 8.8M | 14M | 39M | 33M | 22M | 33M | 43M | 47M | 48M | 45M | 42M |
| Free Cash Flow | 11M | 2.0M | -807K | 13M | 37M | 32M | 22M | 31M | 41M | 46M | 47M | 44M | 41M |
| Owner Earnings | 10M | 1.5M | 7.1M | 12M | 36M | 30M | 19M | 29M | 40M | 44M | 45M | 41M | 38M |
| CapEx | 597K | 951K | 9.6M | 1.5M | 1.5M | 709K | 559K | 1.2M | 1.5M | 955K | 693K | 564K | 710K |
| Maint. CapEx | 1.0M | 990K | 1.1M | 1.4M | 1.6M | 1.7M | 1.6M | 1.6M | 1.4M | 1.4M | 1.5M | 1.4M | 1.4M |
| Growth CapEx | 0 | 0 | 8.5M | 109K | 0 | 0 | 0 | 0 | 82K | 0 | 0 | 0 | 0 |
| D&A | 1.0M | 990K | 1.1M | 1.4M | 1.6M | 1.7M | 1.6M | 1.6M | 1.4M | 1.4M | 1.5M | 1.4M | 1.4M |
| CapEx/OCF | 5.1% | 31.9% | 109.2% | 10.4% | 3.9% | 2.1% | 1.7% | 3.8% | 3.5% | 2.0% | 1.4% | N/A | 1.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 757K | 1.1M | 1.5M | 2.4M | 2.8M | 3.3M | 3.3M | 3.6M | 4.4M | 4.7M | 5.0M | 5.6M | 5.8M |
| Dividend Yield | 1.4% | 1.6% | 1.6% | 1.4% | 1.3% | 1.6% | 2.2% | 1.6% | 1.6% | 1.9% | 1.6% | N/A | 1.0% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 7.4M | 4.2M | 42K | 16M | 6.2M | 5.0M | 5.4M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 4.4% | 1.6% | 0.0% | 5.3% | 1.4% | 0.0% | 0.9% |
| Stock-Based Comp | 398K | 450K | 545K | 746K | 1.1M | 1.3M | 1.4M | 1.6M | 1.7M | 1.8M | 1.8M | 2.1M | 2.2M |
| Debt Repayment | 32M | 80M | 47M | 66M | 275M | 210M | 83M | 160M | 0 | 39M | 1.1M | 5.3M | 5.3M |
| Balance Sheet | |||||||||||||
| Net Debt | 80M | 60M | 40M | 303M | 238M | 354M | 105M | -91M | 526M | 102M | -232M | -300M | -352M |
| Cash & Equiv. | 30M | 23M | 106M | 150M | 146M | 158M | 219M | 245M | 115M | 195M | 180M | 217M | 344M |
| Long-Term Debt | 140M | 107M | 131M | 285M | 220M | 293M | 210M | 50M | 393M | 367M | 231M | 10M | 10M |
| Debt/Equity | 2.72 | 1.97 | 1.95 | 4.28 | 3.11 | 3.59 | 2.13 | 1.02 | 3.08 | 1.66 | 0.32 | 0.12 | -0.02 |
| Interest Coverage | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 7.2 | 0.3 | 6.8 | 5.2 | 0.0 | 0.0 |
| Equity | 70M | 78M | 106M | 118M | 138M | 161M | 174M | 206M | 239M | 261M | 296M | 346M | 358M |
| Total Assets | 1.0B | 1.1B | 1.2B | 1.5B | 1.6B | 1.7B | 2.0B | 2.0B | 2.4B | 2.6B | 2.7B | 3.0B | 3.0B |
| Total Liabilities | 939M | 1.0B | 1.1B | 1.3B | 1.4B | 1.6B | 1.8B | 1.8B | 2.2B | 2.3B | 2.4B | 2.6B | 2.7B |
| Intangibles | 16K | 16K | 16K | 16K | 16K | 16K | 16K | 16K | 16K | 0 | N/A | N/A | N/A |
| Retained Earnings | 11M | 20M | 21M | 31M | 50M | 70M | 91M | 123M | 157M | 191M | 227M | 244M | 257M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Liabilities | 3.4M | 4.0M | 6.2M | 8.5M | 12M | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Per Share Data | |||||||||||||
| EPS | 0.81 | 1.02 | 1.38 | 1.20 | 2.01 | 2.14 | 2.19 | 3.43 | 3.59 | 3.84 | 4.06 | 5.67 | 6.05 |
| Owner EPS | 1.30 | 0.16 | 0.74 | 1.15 | 3.30 | 2.74 | 1.79 | 2.78 | 3.70 | 4.23 | 4.37 | 4.05 | 3.83 |
| Book Value | 8.86 | 8.37 | 11.10 | 10.99 | 12.70 | 14.54 | 16.11 | 19.54 | 22.33 | 25.28 | 28.95 | 33.82 | 35.66 |
| Cash Flow/Share | 1.48 | 0.32 | 0.92 | 1.34 | 3.54 | 3.00 | 2.07 | 3.09 | 3.98 | 4.54 | 4.70 | 4.39 | 6.18 |
| Dividends/Share | 0.10 | 0.13 | 0.18 | 0.23 | 0.27 | 0.31 | 0.32 | 0.36 | 0.43 | 0.48 | 0.52 | 0.58 | 0.58 |
| Shares Out. | 7.9M | 9.4M | 9.6M | 10.7M | 10.9M | 11.1M | 10.8M | 10.5M | 10.7M | 10.3M | 10.2M | 10.2M | 10.0M |
| Valuation | |||||||||||||
| P/E Ratio | 10.1 | 8.7 | 9.9 | 14.7 | 8.9 | 9.6 | 7.2 | 7.2 | 7.2 | 7.5 | 10.5 | N/A | 9.6 |
| P/FCF | 5.3 | 40.9 | N/A | 14.6 | 5.3 | 7.0 | 7.8 | 8.3 | 6.7 | 6.5 | 9.2 | N/A | 14.1 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 139.0 |
| Price/Book | 0.9 | 1.1 | 1.2 | 1.6 | 1.4 | 1.4 | 1.0 | 1.3 | 1.2 | 1.1 | 1.5 | N/A | 1.6 |
| Price/Sales | 1.6 | 1.7 | 1.9 | 3.1 | 3.4 | 3.1 | 2.0 | 2.5 | 2.9 | 2.4 | 3.0 | N/A | 4.3 |
| FCF Yield | 17.1% | 2.4% | -0.6% | 6.8% | 18.9% | 14.3% | 12.8% | 12.1% | 14.9% | 15.4% | 10.8% | N/A | 7.1% |
| Market Cap | 65M | 83M | 131M | 189M | 196M | 227M | 170M | 259M | 276M | 298M | 437M | 0 | 583M |
| Avg. Price | 6.66 | 7.49 | 9.97 | 15.55 | 19.71 | 18.79 | 13.98 | 21.14 | 26.33 | 23.77 | 31.66 | 0.00 | 58.04 |
| Year-End Price | 7.47 | 8.86 | 13.66 | 17.63 | 17.95 | 20.52 | 15.73 | 24.59 | 25.75 | 28.84 | 42.81 | 0.00 | 58.04 |
UNITY BANCORP INC /NJ/ passes 3 of 9 quality checks, indicating weak fundamentals.
UNITY BANCORP INC /NJ/ trades at 11.0x trailing earnings, compared to its 15-year median P/E of 8.9x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 9.7x vs a median of 7.4x. The company's 5-year average ROIC is 9.3%. Total shareholder yield (dividends + buybacks) is 1.9%. At current prices, the estimated annualized return to fair value is +10.3%.
UNITY BANCORP INC /NJ/ (UNTY) has a net profit margin of 30.8%. This is a strong margin indicating high profitability.
UNITY BANCORP INC /NJ/ (UNTY) generated $44 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
UNITY BANCORP INC /NJ/ (UNTY) has a debt-to-equity ratio of 0.12. This indicates a conservatively financed balance sheet.
UNITY BANCORP INC /NJ/ (UNTY) reported earnings per share (EPS) of $5.67 in its most recent fiscal year.
UNITY BANCORP INC /NJ/ (UNTY) has a return on equity (ROE) of 18.1%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 16 years of financial data for UNITY BANCORP INC /NJ/ (UNTY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
UNITY BANCORP INC /NJ/ (UNTY) has a book value per share of $33.82, based on its most recent annual SEC filing.
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