ASSOCIATED BANC-CORP (ASB) Fundamental Analysis & Valuation

NYSE:ASB • US0454871056

Current stock price

25.16 USD
+0.29 (+1.17%)
Last:

This ASB fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. ASB Profitability Analysis

1.1 Basic Checks

  • In the past year ASB was profitable.
  • In the past year ASB had a positive cash flow from operations.
  • ASB had positive earnings in each of the past 5 years.
  • Each year in the past 5 years ASB had a positive operating cash flow.
ASB Yearly Net Income VS EBIT VS OCF VS FCFASB Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M

1.2 Ratios

  • ASB has a Return On Assets of 1.02%. This is comparable to the rest of the industry: ASB outperforms 57.63% of its industry peers.
  • ASB's Return On Equity of 9.27% is in line compared to the rest of the industry. ASB outperforms 52.11% of its industry peers.
Industry RankSector Rank
ROA 1.02%
ROE 9.27%
ROIC N/A
ROA(3y)0.56%
ROA(5y)0.71%
ROE(3y)5.25%
ROE(5y)6.55%
ROIC(3y)N/A
ROIC(5y)N/A
ASB Yearly ROA, ROE, ROICASB Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8

1.3 Margins

  • The Profit Margin of ASB (30.99%) is better than 78.95% of its industry peers.
  • ASB's Profit Margin has improved in the last couple of years.
  • The Operating Margin and Gross Margin are not available for ASB so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 30.99%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y2.92%
PM growth 5Y6.68%
GM growth 3YN/A
GM growth 5YN/A
ASB Yearly Profit, Operating, Gross MarginsASB Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

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3

2. ASB Health Analysis

2.1 Basic Checks

  • ASB does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, ASB has about the same amount of shares outstanding.
  • ASB has more shares outstanding than it did 5 years ago.
  • ASB has a better debt/assets ratio than last year.
ASB Yearly Shares OutstandingASB Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M
ASB Yearly Total Debt VS Total AssetsASB Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B

2.2 Solvency

  • The Debt to FCF ratio of ASB is 1.56, which is an excellent value as it means it would take ASB, only 1.56 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 1.56, ASB is in line with its industry, outperforming 56.32% of the companies in the same industry.
  • ASB has a Debt/Equity ratio of 0.18. This is a healthy value indicating a solid balance between debt and equity.
  • ASB's Debt to Equity ratio of 0.18 is in line compared to the rest of the industry. ASB outperforms 47.89% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF 1.56
Altman-Z N/A
ROIC/WACCN/A
WACC16.35%
ASB Yearly LT Debt VS Equity VS FCFASB Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
ASB Yearly Current Assets VS Current LiabilitesASB Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. ASB Growth Analysis

3.1 Past

  • ASB shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 17.57%, which is quite good.
  • The Earnings Per Share has been growing by 18.95% on average over the past years. This is quite good.
  • ASB shows a strong growth in Revenue. In the last year, the Revenue has grown by 43.33%.
  • Measured over the past years, ASB shows a small growth in Revenue. The Revenue has been growing by 3.10% on average per year.
EPS 1Y (TTM)17.57%
EPS 3Y6.14%
EPS 5Y18.95%
EPS Q2Q%40.35%
Revenue 1Y (TTM)43.33%
Revenue growth 3Y6.26%
Revenue growth 5Y3.1%
Sales Q2Q%13.81%

3.2 Future

  • The Earnings Per Share is expected to grow by 6.62% on average over the next years.
  • Based on estimates for the next years, ASB will show a quite strong growth in Revenue. The Revenue will grow by 10.54% on average per year.
EPS Next Y1.18%
EPS Next 2Y6.62%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year13.42%
Revenue Next 2Y10.54%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
ASB Yearly Revenue VS EstimatesASB Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
ASB Yearly EPS VS EstimatesASB Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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6

4. ASB Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 8.95, which indicates a very decent valuation of ASB.
  • ASB's Price/Earnings ratio is rather cheap when compared to the industry. ASB is cheaper than 86.84% of the companies in the same industry.
  • ASB is valuated cheaply when we compare the Price/Earnings ratio to 24.89, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 8.85, which indicates a very decent valuation of ASB.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of ASB indicates a somewhat cheap valuation: ASB is cheaper than 77.11% of the companies listed in the same industry.
  • ASB is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.19, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 8.95
Fwd PE 8.85
ASB Price Earnings VS Forward Price EarningsASB Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20

4.2 Price Multiples

  • ASB's Price/Free Cash Flow ratio is rather cheap when compared to the industry. ASB is cheaper than 83.68% of the companies in the same industry.
Industry RankSector Rank
P/FCF 7.21
EV/EBITDA N/A
ASB Per share dataASB EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates ASB does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)7.59
PEG (5Y)0.47
EPS Next 2Y6.62%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

8

5. ASB Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 3.78%, ASB has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.66, ASB pays a bit more dividend than its industry peers.
  • ASB's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 3.78%

5.2 History

  • The dividend of ASB has a limited annual growth rate of 3.73%.
  • ASB has paid a dividend for at least 10 years, which is a reliable track record.
  • ASB has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)3.73%
Div Incr Years13
Div Non Decr Years14
ASB Yearly Dividends per shareASB Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8

5.3 Sustainability

  • 36.29% of the earnings are spent on dividend by ASB. This is a low number and sustainable payout ratio.
  • The dividend of ASB is growing, but earnings are growing more, so the dividend growth is sustainable.
DP36.29%
EPS Next 2Y6.62%
EPS Next 3YN/A
ASB Yearly Income VS Free CF VS DividendASB Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M
ASB Dividend Payout.ASB Dividend Payout, showing the Payout Ratio.ASB Dividend Payout.PayoutRetained Earnings

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ASB Fundamentals: All Metrics, Ratios and Statistics

ASSOCIATED BANC-CORP

NYSE:ASB (3/30/2026, 11:48:09 AM)

25.16

+0.29 (+1.17%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-22
Earnings (Next)04-23
Inst Owners87.16%
Inst Owner Change0.51%
Ins Owners0.82%
Ins Owner Change4.76%
Market Cap4.18B
Revenue(TTM)1.49B
Net Income(TTM)461.00M
Analysts68.57
Price Target30.5 (21.22%)
Short Float %3.87%
Short Ratio2.58
Dividend
Industry RankSector Rank
Dividend Yield 3.78%
Yearly Dividend1.01
Dividend Growth(5Y)3.73%
DP36.29%
Div Incr Years13
Div Non Decr Years14
Ex-Date03-02
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)10%
Min EPS beat(2)6.9%
Max EPS beat(2)13.11%
EPS beat(4)4
Avg EPS beat(4)8.05%
Min EPS beat(4)4.04%
Max EPS beat(4)13.11%
EPS beat(8)8
Avg EPS beat(8)11.79%
EPS beat(12)11
Avg EPS beat(12)7.69%
EPS beat(16)15
Avg EPS beat(16)9.48%
Revenue beat(2)2
Avg Revenue beat(2)1.12%
Min Revenue beat(2)0.81%
Max Revenue beat(2)1.43%
Revenue beat(4)3
Avg Revenue beat(4)0.15%
Min Revenue beat(4)-1.88%
Max Revenue beat(4)1.43%
Revenue beat(8)4
Avg Revenue beat(8)3.62%
Revenue beat(12)5
Avg Revenue beat(12)4.77%
Revenue beat(16)7
Avg Revenue beat(16)3.84%
PT rev (1m)-0.99%
PT rev (3m)1.7%
EPS NQ rev (1m)0.65%
EPS NQ rev (3m)2.19%
EPS NY rev (1m)-0.16%
EPS NY rev (3m)0.56%
Revenue NQ rev (1m)0.01%
Revenue NQ rev (3m)0.64%
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.9%
Valuation
Industry RankSector Rank
PE 8.95
Fwd PE 8.85
P/S 2.81
P/FCF 7.21
P/OCF 6.78
P/B 0.84
P/tB 1.11
EV/EBITDA N/A
EPS(TTM)2.81
EY11.17%
EPS(NY)2.84
Fwd EY11.3%
FCF(TTM)3.49
FCFY13.87%
OCF(TTM)3.71
OCFY14.74%
SpS8.96
BVpS29.98
TBVpS22.66
PEG (NY)7.59
PEG (5Y)0.47
Graham Number43.53
Profitability
Industry RankSector Rank
ROA 1.02%
ROE 9.27%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 30.99%
GM N/A
FCFM 38.94%
ROA(3y)0.56%
ROA(5y)0.71%
ROE(3y)5.25%
ROE(5y)6.55%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y2.92%
PM growth 5Y6.68%
GM growth 3YN/A
GM growth 5YN/A
F-Score9
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF 1.56
Debt/EBITDA N/A
Cap/Depr 61.48%
Cap/Sales 2.45%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 125.67%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score9
WACC16.35%
ROIC/WACCN/A
Cap/Depr(3y)83.43%
Cap/Depr(5y)87.31%
Cap/Sales(3y)4.13%
Cap/Sales(5y)4.48%
Profit Quality(3y)277.2%
Profit Quality(5y)239.6%
High Growth Momentum
Growth
EPS 1Y (TTM)17.57%
EPS 3Y6.14%
EPS 5Y18.95%
EPS Q2Q%40.35%
EPS Next Y1.18%
EPS Next 2Y6.62%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)43.33%
Revenue growth 3Y6.26%
Revenue growth 5Y3.1%
Sales Q2Q%13.81%
Revenue Next Year13.42%
Revenue Next 2Y10.54%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y8.23%
FCF growth 3Y-9.59%
FCF growth 5Y3.18%
OCF growth 1Y6.11%
OCF growth 3Y-10.07%
OCF growth 5Y2.28%

ASSOCIATED BANC-CORP / ASB Fundamental Analysis FAQ

What is the ChartMill fundamental rating of ASSOCIATED BANC-CORP (ASB) stock?

ChartMill assigns a fundamental rating of 5 / 10 to ASB.


What is the valuation status for ASB stock?

ChartMill assigns a valuation rating of 6 / 10 to ASSOCIATED BANC-CORP (ASB). This can be considered as Fairly Valued.


How profitable is ASSOCIATED BANC-CORP (ASB) stock?

ASSOCIATED BANC-CORP (ASB) has a profitability rating of 4 / 10.


Can you provide the PE and PB ratios for ASB stock?

The Price/Earnings (PE) ratio for ASSOCIATED BANC-CORP (ASB) is 8.95 and the Price/Book (PB) ratio is 0.84.


How sustainable is the dividend of ASSOCIATED BANC-CORP (ASB) stock?

The dividend rating of ASSOCIATED BANC-CORP (ASB) is 8 / 10 and the dividend payout ratio is 36.29%.