$23.19
+1.3%Union Bankshares, Inc. operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking products and services in northern Vermont and New Hampshire. It offers retail depository services, such as personal checking, savings, money market, IRA/SEP/KEOGH, and health savings accounts, as well as certificates of deposit. The company also provides commercial real estate loans; commercial loans for plant and equipment, working capital, real estate renovation, and other business purposes to business owners and investors; small business administration guaranteed loans; home improvement loans and overdraft; and residential construction and mortgage loans. In addition, it offers online cash management services, including account reconciliation, credit card depository, automated clearing house origination, wire transfers, and night depository services; merchant credit card services for the deposit and immediate credit of sales drafts; remote deposit capture services; and online mortgage application services. Further, the company provides business checking accounts; standby letters of credit, bank checks or money orders, and safe deposit boxes; ATM services; debit cards; telephone, Internet, and mobile banking services; and asset management, fiduciary, and trust services. The company offers retail banking services to individuals; and commercial banking services to small and medium sized corporations, partnerships, and sole proprietorships, as well as nonprofit organizations, local municipalities, and school districts. It operates 18 banking offices, 3 loan centers, and various ATMs. Union Bankshares, Inc. was founded in 1891 and is headquartered in Morrisville, Vermont.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $24.8M | $35.8M | $51.6M | $74.4M | $107.2M | $154.6M | $222.8M | $321.2M | $463.0M | $667.4M |
| Maintenance CapEx | -$361.2K | -$520.7K | -$750.7K | -$1.1M | -$1.6M | -$2.2M | -$3.2M | -$4.7M | -$6.7M | -$9.7M |
| Owner Earnings | $24.5M | $35.3M | $50.8M | $73.3M | $105.7M | $152.3M | $219.5M | $316.5M | $456.2M | $657.6M |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $22.7M | $30.2M | $40.4M | $53.9M | $71.9M | $96.0M | $128.1M | $171.0M | $228.2M | $304.6M |
Snapshot
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Value Model
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Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.