DSE : UNITEDFIN
United Finance PLC. — Financial statements
Miscellaneous business Credit Institutions · Bangladesh
Last price 15.8 BDT (At close: Oct 28, 2026) · Market cap 2.90B
Latest research: United Finance financial analysis: 5.95% NPL, 9.24% cost of fund and a 94% payout on 5.9% ROE (Oct 2026) · United Finance in 2025: 5.95% classified loans, a 9.24% cost of fund, 5.92% ROE and 94% of EPS paid out
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Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 2.99B | 2.75B | 2.83B | 2.27B | 2.16B | 2.00B |
| Total Interest Expense | 1.80B | 1.63B | 1.60B | 1.35B | 1.22B | 1.15B |
| Net Interest Income | 1.19B | 1.13B | 1.23B | 912.91M | 942.29M | 850.12M |
| Gain (Loss) on Sale of Investments | 219.49K | 328.31K | 1.32M | 971.47K | ||
| Revenue Before Loan Losses | 1.26B | 1.13B | 1.23B | 913.24M | 943.60M | 851.09M |
| Provision for Loan Losses | 123.21M | 108.25M | 172.09M | 88.78M | 132.86M | 61.06M |
| Revenue | 1.14B | 1.02B | 1.06B | 824.46M | 810.74M | 790.04M |
| Salaries & Employee Benefits | 516.33M | 523.64M | 586.27M | 547.56M | 544.28M | 455.34M |
| Cost of Services Provided | 100.50M | 118.87M | 104.04M | 87.82M | 114.14M | 91.79M |
| Other Operating Expenses | 62.50M | -20.70M | -60.32M | -122.00M | -91.02M | -91.75M |
| Total Operating Expenses | 760.61M | 701.27M | 712.40M | 597.88M | 649.53M | 531.31M |
| Operating Income | 375.96M | 318.36M | 348.40M | 226.58M | 161.21M | 258.73M |
| EBT Excluding Unusual Items | 375.96M | 318.36M | 348.40M | 226.58M | 161.21M | 258.73M |
| Gain (Loss) on Sale of Investments | 103.21K | |||||
| Pretax Income | 375.96M | 318.36M | 348.40M | 226.58M | 161.99M | 259.63M |
| Income Tax Expense | 154.17M | 120.32M | 139.17M | 83.48M | 19.46M | 37.39M |
| Net Income | 221.79M | 198.04M | 209.23M | 143.10M | 142.54M | 222.24M |
| Net Income to Common | 221.79M | 198.04M | 209.23M | 143.10M | 142.54M | 222.24M |
| Shares Outstanding (Basic) | 184.61M | 187.11M | 187.11M | 187.11M | 187.11M | 187.11M |
| Shares Outstanding (Diluted) | 184.61M | 187.11M | 187.11M | 187.11M | 187.11M | 187.11M |
| EPS (Basic) | 1.20 | 1.06 | 1.12 | 0.76 | 0.76 | 1.19 |
| EPS (Diluted) | 1.20 | 1.06 | 1.12 | 0.76 | 0.76 | 1.19 |
| Free Cash Flow | -730.35M | 471.58M | 771.32M | 113.72M | -2.42B | 1.00B |
| Free Cash Flow Per Share | -3.96 | 2.52 | 4.12 | 0.61 | -12.91 | 5.36 |
| Dividend Per Share | 1.00 | 1.00 | 1.00 | 0.60 | 0.50 | 1.00 |
| Operating Margin | 33.08% | 31.22% | 32.84% | 27.48% | 19.89% | 32.75% |
| Profit Margin | 19.51% | 19.42% | 19.72% | 17.36% | 17.58% | 28.13% |
| Free Cash Flow Margin | -64.26% | 46.25% | 72.71% | 13.79% | -298.00% | 127.00% |
| Effective Tax Rate | 41.01% | 37.79% | 39.95% | 36.84% | 12.01% | 14.40% |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.22B | 3.57B | 3.83B | 4.12B | 3.32B | 5.38B |
| Long-Term Investments | 1.55B | 2.16B | 1.93B | 1.54B | 1.04B | 797.09M |
| Loans & Lease Receivables | 23.92B | 20.69B | 19.46B | 20.38B | 20.22B | 17.23B |
| Other Receivables | 226.93M | 215.93M | 256.57M | 130.11M | 98.41M | |
| Property, Plant & Equipment | 325.64M | 350.86M | 320.09M | 364.91M | 416.53M | 411.58M |
| Other Intangible Assets | 2.45M | 9.14M | 19.82M | 30.07M | 19.74M | |
| Other Current Assets | 2.36B | 2.22B | 2.12B | 2.01B | 1.91B | |
| Long-Term Deferred Tax Assets | 24.59M | 21.23M | 12.35M | 5.70M | 6.60M | |
| Other Long-Term Assets | 2.72B | 2.97M | 2.97M | 6.51M | 6.51M | 6.51M |
| Total Assets | 31.74B | 29.39B | 28.02B | 28.82B | 27.18B | 25.86B |
| Interest Bearing Deposits | 17.29B | 12.92B | 11.91B | 13.88B | 14.22B | 13.35B |
| Non-Interest Bearing Deposits | 263.11M | 299.62M | 365.87M | 411.23M | 316.26M | |
| Total Deposits | 17.29B | 13.19B | 12.21B | 14.25B | 14.63B | 13.67B |
| Accrued Expenses | 591.61M | 555.69M | 526.23M | 508.10M | 463.72M | |
| Short-Term Debt | 3.36B | 2.96B | 1.52B | 1.23B | 1.77B | |
| Current Portion of Long-Term Debt | 2.31B | 2.58B | 3.48B | 2.55B | 1.79B | |
| Long-Term Debt | 6.23B | 2.47B | 2.51B | 2.18B | 1.84B | 1.82B |
| Long-Term Leases | 126.37M | 104.48M | 131.87M | 158.80M | 164.89M | |
| Current Income Taxes Payable | 2.44B | 2.31B | 2.17B | 2.08B | 2.06B | |
| Other Current Liabilities | 3.95M | 3.29M | 4.09M | 5.92M | 6.81M | |
| Pension & Post-Retirement Benefits | 20.45M | 16.22M | 9.95M | 6.96M | 8.43M | |
| Other Long-Term Liabilities | 4.99B | 1.53B | 1.42B | 1.31B | 991.38M | 879.13M |
| Total Liabilities | 28.51B | 26.04B | 24.68B | 25.58B | 23.99B | 22.62B |
| Common Stock | 1.87B | 1.87B | 1.87B | 1.87B | 1.87B | 1.87B |
| Additional Paid-In Capital | 3.75M | 3.75M | 3.75M | 3.75M | 3.75M | 3.75M |
| Retained Earnings | 1.35B | 1.47B | 1.46B | 1.37B | 1.32B | 1.36B |
| Shareholders' Equity | 3.23B | 3.35B | 3.34B | 3.24B | 3.19B | 3.24B |
| Total Liabilities & Equity | 31.74B | 29.39B | 28.02B | 28.82B | 27.18B | 25.86B |
| Total Debt | 6.23B | 8.26B | 8.16B | 7.31B | 5.78B | 5.54B |
| Net Cash (Debt) | -3.01B | -4.70B | -4.33B | -3.19B | -2.45B | -158.57M |
| Net Cash Per Share | -16.29 | -25.10 | -23.14 | -17.05 | -13.10 | -0.85 |
| Filing Date Shares Outstanding | 187.11M | 187.11M | 187.11M | 187.11M | 187.11M | 187.11M |
| Total Common Shares Outstanding | 187.11M | 187.11M | 187.11M | 187.11M | 187.11M | 187.11M |
| Working Capital | 9.85B | 4.95B | 5.11B | 4.93B | 4.69B | 4.86B |
| Book Value Per Share | 17.25 | 17.90 | 17.84 | 17.32 | 17.06 | 17.30 |
| Tangible Book Value | 3.23B | 3.35B | 3.33B | 3.22B | 3.16B | 3.22B |
| Tangible Book Value Per Share | 17.25 | 17.89 | 17.79 | 17.22 | 16.90 | 17.19 |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 221.79M | 198.04M | 209.23M | 143.10M | 142.54M | 222.24M |
| Depreciation & Amortization | 74.33M | 72.32M | 71.73M | 72.77M | 72.65M | 70.67M |
| Other Amortization | 1.78M | 7.14M | 10.68M | 11.72M | 9.48M | 5.26M |
| Provision for Credit Losses | 220.00M | 189.76M | 229.12M | 129.13M | 177.47M | 26.06M |
| Change in Other Net Operating Assets | -1.20B | 174.98M | 388.18M | -209.68M | -2.55B | 783.18M |
| Other Operating Activities | -11.15M | -117.24M | -109.57M | -4.09M | -188.34M | -54.04M |
| Operating Cash Flow | -691.19M | 524.55M | 798.81M | 142.29M | -2.33B | 1.05B |
| Capital Expenditures | -39.15M | -52.97M | -27.49M | -28.58M | -82.28M | -49.20M |
| Sale of Property, Plant & Equipment | 8.94M | 3.49M | 3.94M | 6.62M | 5.32M | 1.91M |
| Investment in Securities | 525.54M | -235.33M | -387.55M | -499.41M | -245.06M | -173.32M |
| Other Investing Activities | -1.00 | 1.00 | 2.00 | |||
| Investing Cash Flow | 495.33M | -284.81M | -411.10M | -521.37M | -322.01M | -220.61M |
| Long-Term Debt Issued | 2.40B | 3.18B | 4.23B | 2.83B | 2.73B | |
| Long-Term Debt Repaid | -2.72B | -3.74B | -2.95B | -2.05B | -1.43B | |
| Total Debt Repaid | -2.55B | -2.72B | -3.74B | -2.95B | -2.05B | -1.43B |
| Net Debt Issued (Repaid) | 963.81M | -317.70M | -565.41M | 1.27B | 783.62M | 1.31B |
| Common Dividends Paid | -186.96M | -186.46M | -113.07M | -95.39M | -188.00M | -197.92M |
| Financing Cash Flow | 776.85M | -504.16M | -678.47M | 1.18B | 595.61M | 1.11B |
| Net Cash Flow | 581.00M | -264.42M | -290.76M | 799.04M | -2.06B | 1.94B |
| Free Cash Flow | -730.35M | 471.58M | 771.32M | 113.72M | -2.42B | 1.00B |
| Free Cash Flow Margin | -64.26% | 46.25% | 72.71% | 13.79% | -298.00% | 127.00% |
| Free Cash Flow Per Share | -3.96 | 2.52 | 4.12 | 0.61 | -12.91 | 5.36 |
| Cash Interest Paid | 351.33M | 1.55B | 1.61B | 1.33B | 1.17B | 1.32B |
| Cash Income Tax Paid | 43.05M | 158.30M | 128.15M | 84.47M | 106.23M | 95.42M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.90B | 2.15B | 2.51B | 2.96B | 2.96B | 3.95B |
| PE Ratio | 12.90 | 10.87 | 11.98 | 20.66 | 20.74 | 17.77 |
| PS Ratio | 2.55 | 2.11 | 2.36 | 3.59 | 3.65 | 5.00 |
| PB Ratio | 0.90 | 0.64 | 0.75 | 0.91 | 0.93 | 1.22 |
| P/FCF Ratio | 4.56 | 3.25 | 26.00 | 3.94 | ||
| P/OCF Ratio | 4.10 | 3.14 | 20.78 | 3.75 | ||
| Debt / Equity Ratio | 1.93 | 2.47 | 2.44 | 2.26 | 1.81 | 1.71 |
| Debt / FCF Ratio | 17.52 | 10.58 | 64.31 | 5.53 | ||
| Net Debt / Equity Ratio | 0.93 | 1.40 | 1.30 | 0.98 | 0.77 | 0.05 |
| Net Debt / FCF Ratio | -4.12 | 9.96 | 5.62 | 28.05 | -1.01 | 0.16 |
| Quick Ratio | 1.57 | 1.12 | 1.14 | 1.13 | 1.13 | 1.15 |
| Current Ratio | 1.57 | 1.23 | 1.25 | 1.23 | 1.22 | 1.25 |
| Asset Turnover | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.03 |
| Return on Equity (ROE) | 6.91% | 5.92% | 6.36% | 4.45% | 4.44% | 6.91% |
| Return on Assets (ROA) | 0.76% | 0.69% | 0.74% | 0.51% | 0.54% | 0.94% |
| Return on Invested Capital (ROIC) | 2.29% | 1.71% | 1.90% | 1.47% | 1.60% | 3.05% |
| Earnings Yield | 7.75% | 9.20% | 8.34% | 4.84% | 4.82% | 5.63% |
| FCF Yield | -25.18% | 21.92% | 30.76% | 3.85% | -81.72% | 25.41% |
| Dividend Yield | 6.45% | 8.70% | 7.46% | 3.80% | 3.16% | 4.74% |
| Payout Ratio | 84.29% | 94.15% | 54.04% | 66.66% | 131.90% | 89.06% |
| Total Shareholder Return | 10.00% | 8.70% | 7.46% | 3.80% | 3.16% | 4.74% |