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United Bankshares (UBSI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · United Bankshares (UBSI) Q3 2026 earnings results →
Q3 2026 Revenue up 0% year over year to $325M · 40¢ of every $1 of revenue kept as net profit · operating margin 49.9%
United Bankshares made $325M in Q3 2026 (+0.5% Y/Y): Net interest income $294M, Noninterest income $30.8M. Operating margin 49.9%, net earnings $129M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $325.1M in Q3 2026, up 1% year over year and roughly flat from the previous quarter. Net interest income was the largest line at 91% of revenue. Net interest income added $14.1M year over year (up 5%), 795% of the total change. Noninterest income declined 29%.
Operating profit was $162.1M, a 49.9% margin (down 1.0 points year over year). Operating profit fell $2.3M even though revenue rose $1.8M versus a year earlier, so costs grew faster than sales. Total costs grew 3% against revenue growth of 1%. Net earnings were $128.7M, down 2% year over year. The effective tax rate was 20.6%.
Operating cash flow was $167.7M (up 11% year over year), 130% of net earnings. Non-cash charges added back $3.9M of share-based compensation. Working capital and other items added $35.2M. Capital expenditures of $5.1M left free cash flow of $162.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $325M | +0.5% | 49.9% | $129M | $168M |
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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About United Bankshares
United Bankshares, Inc. (NASDAQ: UBSI) is a financial services company with consolidated assets of approximately $34 billion as of June 30, 2026. United is the 39 th largest banking company in the U.S. based on market capitalization. It is the parent company of United Bank, which comprises over 240 offices located across Washington, D.C., Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania, and Georgia. For more information, visit ubsi-inc.com .
In its own words, from its 8-K, filed Jul 23, 2026.
United Bankshares against its State Commercial Banks peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.5% against the peers' median +10%. Operating margin: 49.9% against the peers' median 34.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| UBSI United Bankshares | Q3 2026 | $325M | +0.5% | 49.9% |
| BNY Bank of New York Mellon | Q3 2026 | $5.7B | +12% | 38.5% |
| STT State Street | Q3 2026 | $4.0B | +13% | 34.7% |
| FITB Fifth Third Bancorp | Q3 2026 | $3.3B | +42% | 33.8% |
| MTB M&T Bank | Q3 2026 | $2.5B | +0.9% | 39.7% |
| FCNCA First Citizens Bancshares | Q3 2026 | $2.4B | 0% | 33.1% |
| ALLY Ally Financial | Q3 2026 | $2.3B | +8% | 24.3% |
| CFG Citizens Financial Group | Q3 2026 | $2.3B | +10% | 34.6% |
| NTRS Northern Trust | Q3 2026 | $2.3B | +13% | 34.7% |
Source: United Bankshares 10-Q on SEC EDGAR · CIK 729986 · State Commercial Banks
Guidance and outlook
13F: who owns UBSI and who is buying
More on UBSI
History
Every quarter: Q3 2026 results