ASB Fundamental Analysis - ASSOCIATED BANC-CORP

Fundamental Rating

Overall ASB gets a fundamental rating of 3 out of 10. We evaluated ASB against 395 industry peers in the Banks industry. Both the profitability and financial health of ASB have multiple concerns. ASB is not valued too expensively and it also shows a decent growth rate.

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1. Profitability

1.1 Basic Checks

ASB had positive earnings in the past year.

ASB had a positive operating cash flow in the past year.

In the past 5 years ASB has always been profitable.

Each year in the past 5 years ASB had a positive operating cash flow.

1.2 Ratios

ASB's Return On Assets of 0.30% is on the low side compared to the rest of the industry. ASB is outperformed by 84.81% of its industry peers.

ASB has a Return On Equity of 2.80%. This is amonst the worse of the industry: ASB underperforms 84.56% of its industry peers.

		Industry Rank	Sector Rank
ROA	0.3%
ROE	2.8%
ROIC	N/A

ROA(3y)0.52%

ROA(5y)0.67%

ROE(3y)5.09%

ROE(5y)6.1%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

ASB's Profit Margin of 12.39% is on the low side compared to the rest of the industry. ASB is outperformed by 81.77% of its industry peers.

In the last couple of years the Profit Margin of ASB has declined.

The Operating Margin and Gross Margin are not available for ASB so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	12.39%
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y-30.12%

PM growth 5Y-15.92%

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

ASB does not have a ROIC to compare to the WACC, probably because it is not profitable.

The number of shares outstanding for ASB has been increased compared to 1 year ago.

ASB has more shares outstanding than it did 5 years ago.

The debt/assets ratio for ASB is higher compared to a year ago.

2.2 Solvency

The Debt to FCF ratio of ASB is 1.88, which is an excellent value as it means it would take ASB, only 1.88 years of fcf income to pay off all of its debts.

ASB has a Debt to FCF ratio (1.88) which is in line with its industry peers.

A Debt/Equity ratio of 0.19 indicates that ASB is not too dependend on debt financing.

ASB has a Debt to Equity ratio of 0.19. This is comparable to the rest of the industry: ASB outperforms 43.29% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.19
Debt/FCF	1.88
Altman-Z	N/A

ROIC/WACCN/A

WACC18.63%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 16.82% over the past year.

Measured over the past 5 years, ASB shows a small growth in Earnings Per Share. The EPS has been growing by 3.84% on average per year.

Looking at the last year, ASB shows a decrease in Revenue. The Revenue has decreased by -2.73% in the last year.

The Revenue has been decreasing by -3.13% on average over the past years.

EPS 1Y (TTM)16.82%

EPS 3Y2.96%

EPS 5Y3.84%

EPS Q2Q%21.15%

Revenue 1Y (TTM)-2.73%

Revenue growth 3Y-0.65%

Revenue growth 5Y-3.13%

Sales Q2Q%6.78%

3.2 Future

Based on estimates for the next years, ASB will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.95% on average per year.

The Revenue is expected to grow by 11.23% on average over the next years. This is quite good.

EPS Next Y6.63%

EPS Next 2Y7.02%

EPS Next 3Y8.95%

EPS Next 5YN/A

Revenue Next Year18.61%

Revenue Next 2Y12.05%

Revenue Next 3Y11.23%

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 accelerating.

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 10.34, the valuation of ASB can be described as reasonable.

82.03% of the companies in the same industry are more expensive than ASB, based on the Price/Earnings ratio.

ASB's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.45.

Based on the Price/Forward Earnings ratio of 9.45, the valuation of ASB can be described as reasonable.

Based on the Price/Forward Earnings ratio, ASB is valued a bit cheaper than the industry average as 65.82% of the companies are valued more expensively.

Compared to an average S&P500 Price/Forward Earnings ratio of 21.90, ASB is valued rather cheaply.

		Industry Rank	Sector Rank
PE	10.34
Fwd PE	9.45

4.2 Price Multiples

75.95% of the companies in the same industry are more expensive than ASB, based on the Price/Free Cash Flow ratio.

		Industry Rank	Sector Rank
P/FCF	8.93
EV/EBITDA	N/A

4.3 Compensation for Growth

ASB's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.

PEG (NY)1.56

PEG (5Y)2.7

EPS Next 2Y7.02%

EPS Next 3Y8.95%

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5. Dividend

5.1 Amount

ASB has a Yearly Dividend Yield of 3.75%. Purely for dividend investing, there may be better candidates out there.

ASB's Dividend Yield is a higher than the industry average which is at 3.47.

Compared to an average S&P500 Dividend Yield of 2.42, ASB pays a better dividend.

		Industry Rank	Sector Rank
Dividend Yield	3.75%

5.2 History

The dividend of ASB has a limited annual growth rate of 3.73%.

ASB has been paying a dividend for at least 10 years, so it has a reliable track record.

ASB has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.

Dividend Growth(5Y)3.73%

Div Incr Years13

Div Non Decr Years14

5.3 Sustainability

ASB pays out 118.55% of its income as dividend. This is not a sustainable payout ratio.

ASB's earnings are growing more than its dividend. This makes the dividend growth sustainable.

DP118.55%

EPS Next 2Y7.02%

EPS Next 3Y8.95%

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ASSOCIATED BANC-CORP

NYSE:ASB (7/3/2025, 7:02:50 PM)

After market: 25.86 0 (0%)

25.86

+0.24 (+0.94%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)04-24 2025-04-24/amc

Earnings (Next)07-17 2025-07-17/amc

Inst Owners87.49%

Inst Owner Change-0.13%

Ins Owners0.78%

Ins Owner Change6.89%

Market Cap4.29B

Analysts69.23

Price Target26.93 (4.14%)

Short Float %3.5%

Short Ratio4.15

Dividend

		Industry Rank	Sector Rank
Dividend Yield	3.75%

Yearly Dividend0.95

Dividend Growth(5Y)3.73%

DP118.55%

Div Incr Years13

Div Non Decr Years14

Ex-Date06-02 2025-06-02 (0.23)

Surprises & Revisions

EPS beat(2)2

Avg EPS beat(2)6.75%

Min EPS beat(2)5.36%

Max EPS beat(2)8.15%

EPS beat(4)4

Avg EPS beat(4)16.37%

Min EPS beat(4)5.36%

Max EPS beat(4)40.57%

EPS beat(8)7

Avg EPS beat(8)8.32%

EPS beat(12)11

Avg EPS beat(12)8.72%

EPS beat(16)15

Avg EPS beat(16)11.64%

Revenue beat(2)1

Avg Revenue beat(2)16.89%

Min Revenue beat(2)-1.88%

Max Revenue beat(2)35.66%

Revenue beat(4)1

Avg Revenue beat(4)7.03%

Min Revenue beat(4)-3.72%

Max Revenue beat(4)35.66%

Revenue beat(8)2

Avg Revenue beat(8)7.33%

Revenue beat(12)4

Avg Revenue beat(12)5.19%

Revenue beat(16)5

Avg Revenue beat(16)3.51%

PT rev (1m)-0.17%

PT rev (3m)-5.34%

EPS NQ rev (1m)0.23%

EPS NQ rev (3m)3.92%

EPS NY rev (1m)-0.13%

EPS NY rev (3m)2.49%

Revenue NQ rev (1m)-0.01%

Revenue NQ rev (3m)0.67%

Revenue NY rev (1m)-0.14%

Revenue NY rev (3m)0.07%

Valuation

		Industry Rank	Sector Rank
PE	10.34
Fwd PE	9.45
P/S	4.05
P/FCF	8.93
P/OCF	8.18
P/B	0.91
P/tB	1.24
EV/EBITDA	N/A

EPS(TTM)2.5

EY9.67%

EPS(NY)2.74

Fwd EY10.59%

FCF(TTM)2.89

FCFY11.19%

OCF(TTM)3.16

OCFY12.22%

SpS6.39

BVpS28.26

TBVpS20.9

PEG (NY)1.56

PEG (5Y)2.7

Profitability

		Industry Rank	Sector Rank
ROA	0.3%
ROE	2.8%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	12.39%
GM	N/A
FCFM	45.29%

ROA(3y)0.52%

ROA(5y)0.67%

ROE(3y)5.09%

ROE(5y)6.1%

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

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y-30.12%

PM growth 5Y-15.92%

GM growth 3YN/A

GM growth 5YN/A

F-Score4

Asset Turnover0.02

Health

		Industry Rank	Sector Rank
Debt/Equity	0.19
Debt/FCF	1.88
Debt/EBITDA	N/A
Cap/Depr	74.15%
Cap/Sales	4.15%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	365.41%
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score4

WACC18.63%

ROIC/WACCN/A

Cap/Depr(3y)101.71%

Cap/Depr(5y)88.11%

Cap/Sales(3y)5%

Cap/Sales(5y)4.84%

Profit Quality(3y)309.46%

Profit Quality(5y)249.06%

High Growth Momentum

Growth

EPS 1Y (TTM)16.82%

EPS 3Y2.96%

EPS 5Y3.84%

EPS Q2Q%21.15%

EPS Next Y6.63%

EPS Next 2Y7.02%

EPS Next 3Y8.95%

EPS Next 5YN/A

Revenue 1Y (TTM)-2.73%

Revenue growth 3Y-0.65%

Revenue growth 5Y-3.13%

Sales Q2Q%6.78%

Revenue Next Year18.61%

Revenue Next 2Y12.05%

Revenue Next 3Y11.23%

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 1Y-18.44%

FCF growth 3Y3.89%

FCF growth 5Y1.1%

OCF growth 1Y-19.15%

OCF growth 3Y3.09%

OCF growth 5Y0.21%

ASSOCIATED BANC-CORP (ASB) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

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