Unity Bancorp Financials

UNTY

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Unity Bancorp (UNTY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 73/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Unity Bancorp's revenue grew 8.5% year-over-year to $155.7M, a solid pace of expansion. This earns a growth score of 53/100.

Leverage

Unity Bancorp carries a low D/E ratio of 0.78, meaning only $0.78 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 82/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

100

Unity Bancorp converts 30.4% of revenue into free cash flow ($47.3M). This strong cash generation earns a score of 100/100.

Returns

Unity Bancorp's ROE of 14.0% shows moderate profitability relative to equity, earning a score of 56/100. This is down from 15.2% the prior year.

Piotroski F-Score Strong

7/9

Unity Bancorp passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.16x

For every $1 of reported earnings, Unity Bancorp generates $1.16 in operating cash flow ($48.0M OCF vs $41.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$155.7M

YoY+8.5%

5Y CAGR+15.5%

10Y CAGR+15.3%

Unity Bancorp generated $155.7M in revenue in fiscal year 2024. This represents an increase of 8.5% from the prior year.

EBITDA

N/A

Free Cash Flow

$47.3M

YoY+2.9%

5Y CAGR+7.8%

10Y CAGR+15.6%

Unity Bancorp generated $47.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 2.9% from the prior year.

Net Income

$41.5M

YoY+4.4%

5Y CAGR+11.9%

10Y CAGR+20.5%

Unity Bancorp reported $41.5M in net income in fiscal year 2024. This represents an increase of 4.4% from the prior year.

EPS (Diluted)

$4.06

YoY+5.7%

5Y CAGR+13.7%

10Y CAGR+17.5%

Unity Bancorp earned $4.06 per diluted share (EPS) in fiscal year 2024. This represents an increase of 5.7% from the prior year.

Cash & Debt

$180.4M

YoY-7.4%

5Y CAGR+2.7%

Unity Bancorp held $180.4M in cash against $230.8M in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.52

YoY+8.3%

5Y CAGR+10.9%

10Y CAGR+17.9%

Unity Bancorp paid $0.52 per share in dividends in fiscal year 2024. This represents an increase of 8.3% from the prior year.

Shares Outstanding

10M

YoY-0.4%

5Y CAGR-1.6%

10Y CAGR+1.8%

Unity Bancorp had 10M shares outstanding in fiscal year 2024. This represents a decrease of 0.4% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

26.6%

YoY-1.1pp

5Y CAGR-4.6pp

10Y CAGR+9.5pp

Unity Bancorp's net profit margin was 26.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 1.1 percentage points from the prior year.

Return on Equity

14.0%

YoY-1.2pp

5Y CAGR-0.7pp

10Y CAGR+4.9pp

Unity Bancorp's ROE was 14.0% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.2 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$6.2M

YoY-60.4%

Unity Bancorp spent $6.2M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 60.4% from the prior year.

Capital Expenditures

$693K

YoY-27.4%

5Y CAGR-0.5%

10Y CAGR+1.5%

Unity Bancorp invested $693K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 27.4% from the prior year.

UNTY Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$155.7M+8.5%	$143.5M+42.4%	$100.7M+18.8%	$84.8M+7.4%	$78.9M+4.3%	$75.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$57.1M+17.8%	$48.5M+356.2%	$10.6M+37.3%	$7.7M-46.5%	$14.5M-19.8%	$18.1M
Income Tax	$12.9M-2.6%	$13.3M+2.5%	$13.0M+7.9%	$12.0M+60.7%	$7.5M+12.2%	$6.7M
Net Income	$41.5M+4.4%	$39.7M+3.3%	$38.5M+6.5%	$36.1M+52.8%	$23.6M0.0%	$23.7M
EPS (Diluted)	$4.06+5.7%	$3.84+7.0%	$3.59+4.7%	$3.43+56.6%	$2.19+2.3%	$2.14

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$44.4M+4.1%	$42.6M+4.4%	$40.8M+1.3%	$40.3M+1.8%	$39.5M+4.1%	$38.0M+0.1%	$37.9M+0.5%	$37.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$14.5M+3.3%	$14.0M+3.6%	$13.6M-1.6%	$13.8M-6.3%	$14.7M+0.9%	$14.6M+3.3%	$14.1M+2.7%	$13.7M
Income Tax	$4.5M-11.1%	$5.0M+31.7%	$3.8M+28.2%	$3.0M-18.5%	$3.7M+18.2%	$3.1M-3.1%	$3.2M-2.4%	$3.3M
Net Income	$14.4M-12.7%	$16.5M+42.2%	$11.6M+0.8%	$11.5M+5.5%	$10.9M+15.3%	$9.5M-1.4%	$9.6M-1.9%	$9.8M
EPS (Diluted)	$1.41-12.4%	$1.61+42.5%	$1.130.0%	$1.13+5.6%	$1.07+15.1%	$0.930.0%	$0.93-3.1%	$0.96

UNTY Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$2.7B+2.9%	$2.6B+5.5%	$2.4B+20.2%	$2.0B+3.8%	$2.0B+14.0%	$1.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$180.4M-7.4%	$194.8M+69.7%	$114.8M-53.1%	$244.8M+11.6%	$219.3M+38.8%	$158.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.5M0.0%	$1.5M+1.1%	$1.5M0.0%	$1.5M0.0%	$1.5M0.0%	$1.5M
Total Liabilities	$2.4B+1.8%	$2.3B+5.0%	$2.2B+20.7%	$1.8B+2.4%	$1.8B+14.6%	$1.6B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$230.8M-37.1%	$366.7M-6.8%	$393.3M+681.8%	$50.3M-76.1%	$210.3M-28.3%	$293.3M
Total Equity	$295.6M+13.1%	$261.4M+9.3%	$239.2M+16.3%	$205.7M+18.3%	$173.9M+8.2%	$160.7M
Retained Earnings	$227.3M+19.0%	$191.1M+21.8%	$157.0M+27.6%	$123.0M+35.7%	$90.7M+28.7%	$70.4M

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$2.9B-1.8%	$2.9B+5.8%	$2.8B+4.3%	$2.7B+0.7%	$2.6B+1.4%	$2.6B+1.2%	$2.6B-0.4%	$2.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$203.5M-30.7%	$293.7M+38.8%	$211.6M+17.3%	$180.4M-7.2%	$194.5M-1.5%	$197.4M+7.9%	$183.0M-6.1%	$194.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.5M0.0%	$1.5M0.0%	$1.5M0.0%	$1.5M	N/A	N/A	N/A	$1.5M
Total Liabilities	$2.5B-2.5%	$2.6B+6.0%	$2.5B+4.4%	$2.4B+0.3%	$2.4B+1.2%	$2.3B+1.0%	$2.3B-0.7%	$2.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	$230.8M	N/A	N/A	N/A	$366.7M
Total Equity	$334.0M+4.4%	$319.8M+4.5%	$306.1M+3.6%	$295.6M+4.0%	$284.3M+4.0%	$273.4M+2.5%	$266.8M+2.0%	$261.4M
Retained Earnings	$265.5M+5.1%	$252.6M+6.4%	$237.5M+4.5%	$227.3M+4.7%	$217.1M+4.6%	$207.5M+4.1%	$199.4M+4.3%	$191.1M

UNTY Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$48.0M+2.3%	$46.9M+9.9%	$42.7M+31.2%	$32.5M+45.7%	$22.3M-32.8%	$33.2M
Capital Expenditures	$693K-27.4%	$955K-35.6%	$1.5M+18.7%	$1.2M+123.4%	$559K-21.2%	$709K
Free Cash Flow	$47.3M+2.9%	$46.0M+11.6%	$41.2M+31.7%	$31.3M+43.7%	$21.8M-33.0%	$32.5M
Investing Cash Flow	-$92.8M-60.4%	-$57.8M+89.3%	-$541.3M-1236.0%	-$40.5M+76.9%	-$175.4M-31.7%	-$133.1M
Financing Cash Flow	$30.5M-66.5%	$90.9M-75.3%	$368.6M+1000.5%	$33.5M-84.4%	$214.3M+90.7%	$112.4M
Dividends Paid	$5.0M+6.4%	$4.7M+8.0%	$4.4M+20.9%	$3.6M+9.7%	$3.3M+1.3%	$3.3M
Share Buybacks	$6.2M-60.4%	$15.7M+37261.9%	$42K-99.0%	$4.2M-43.7%	$7.4M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$45.5M+279.9%	-$25.3M-241.8%	$17.9M-22.4%	$23.0M+30.4%	$17.7M+308.9%	-$8.4M-153.6%	$15.8M-36.7%	$24.9M
Capital Expenditures	$214K+14.4%	$187K-33.0%	$279K-17.7%	$339K+143.9%	$139K+1.5%	$137K+75.6%	$78K-51.6%	$161K
Free Cash Flow	$45.3M+277.7%	-$25.5M-245.1%	$17.6M-22.5%	$22.7M+29.5%	$17.5M+304.0%	-$8.6M-154.7%	$15.7M-36.6%	$24.7M
Investing Cash Flow	-$69.1M-97.0%	-$35.1M+57.6%	-$82.8M-87.1%	-$44.2M+4.9%	-$46.5M-4939.0%	$961K+131.8%	-$3.0M-179.6%	$3.8M
Financing Cash Flow	-$66.7M-146.8%	$142.5M+48.4%	$96.1M+1241.2%	$7.2M-72.4%	$25.9M+18.3%	$21.9M+189.4%	-$24.5M-629.9%	$4.6M
Dividends Paid	$1.4M+7.0%	$1.4M-0.2%	$1.4M+7.2%	$1.3M+1.3%	$1.2M0.0%	$1.2M-1.0%	$1.3M+7.6%	$1.2M
Share Buybacks	$0	N/A	N/A	$11K-96.1%	$281K-84.7%	$1.8M-54.8%	$4.1M+188.5%	$1.4M

UNTY Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	26.6%-1.1pp	27.7%-10.5pp	38.2%-4.4pp	42.6%+12.6pp	30.0%-1.3pp	31.3%
Return on Equity	14.0%-1.2pp	15.2%-0.9pp	16.1%-1.5pp	17.6%+4.0pp	13.6%-1.1pp	14.7%
Return on Assets	1.6%+0.0pp	1.5%-0.0pp	1.6%-0.2pp	1.8%+0.6pp	1.2%-0.2pp	1.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.78-0.6	1.40-0.2	1.64+1.4	0.24-1.0	1.21-0.6	1.83
FCF Margin	30.4%-1.7pp	32.0%-8.9pp	40.9%+4.0pp	36.9%+9.3pp	27.6%-15.4pp	43.0%

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	32.4%-6.3pp	38.7%+10.3pp	28.4%-0.1pp	28.6%+1.0pp	27.6%+2.7pp	24.9%-0.4pp	25.3%-0.6pp	25.9%
Return on Equity	4.3%-0.9pp	5.2%+1.4pp	3.8%-0.1pp	3.9%+0.1pp	3.8%+0.4pp	3.5%-0.1pp	3.6%-0.2pp	3.7%
Return on Assets	0.5%-0.1pp	0.6%+0.1pp	0.4%-0.0pp	0.4%+0.0pp	0.4%+0.1pp	0.4%-0.0pp	0.4%0.0pp	0.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	7.61-0.5	8.16+0.1	8.04+7.3	0.78-7.5	8.27-0.2	8.50-0.1	8.63+7.2	1.40
FCF Margin	102.2%+162.1pp	-59.9%-103.0pp	43.1%-13.3pp	56.3%+12.0pp	44.3%+66.9pp	-22.6%-63.9pp	41.3%-24.2pp	65.5%

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Frequently Asked Questions

What is Unity Bancorp's annual revenue?

Unity Bancorp (UNTY) reported $155.7M in total revenue for fiscal year 2024. This represents a 8.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Unity Bancorp's revenue growing?

Unity Bancorp (UNTY) revenue grew by 8.5% year-over-year, from $143.5M to $155.7M in fiscal year 2024.

Is Unity Bancorp profitable?

Yes, Unity Bancorp (UNTY) reported a net income of $41.5M in fiscal year 2024, with a net profit margin of 26.6%.

What is Unity Bancorp's earnings per share (EPS)?

Unity Bancorp (UNTY) reported diluted earnings per share of $4.06 for fiscal year 2024. This represents a 5.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Unity Bancorp have?

As of fiscal year 2024, Unity Bancorp (UNTY) had $180.4M in cash and equivalents against $230.8M in long-term debt.

What is Unity Bancorp's net profit margin?

Unity Bancorp (UNTY) had a net profit margin of 26.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Unity Bancorp pay dividends?

Yes, Unity Bancorp (UNTY) paid $0.52 per share in dividends during fiscal year 2024.

What is Unity Bancorp's return on equity (ROE)?

Unity Bancorp (UNTY) has a return on equity of 14.0% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Unity Bancorp's free cash flow?

Unity Bancorp (UNTY) generated $47.3M in free cash flow during fiscal year 2024. This represents a 2.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Unity Bancorp's operating cash flow?

Unity Bancorp (UNTY) generated $48.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Unity Bancorp's total assets?

Unity Bancorp (UNTY) had $2.7B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Unity Bancorp's capital expenditures?

Unity Bancorp (UNTY) invested $693K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Unity Bancorp buy back shares?

Yes, Unity Bancorp (UNTY) spent $6.2M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Unity Bancorp have outstanding?

Unity Bancorp (UNTY) had 10M shares outstanding as of fiscal year 2024.

What is Unity Bancorp's debt-to-equity ratio?

Unity Bancorp (UNTY) had a debt-to-equity ratio of 0.78 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Unity Bancorp's return on assets (ROA)?

Unity Bancorp (UNTY) had a return on assets of 1.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Unity Bancorp's Piotroski F-Score?

Unity Bancorp (UNTY) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Unity Bancorp's earnings high quality?

Unity Bancorp (UNTY) has an earnings quality ratio of 1.16x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Unity Bancorp?

Unity Bancorp (UNTY) scores 73 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.