ASB Fundamental Analysis - ASSOCIATED BANC-CORP

Fundamental Rating

Overall ASB gets a fundamental rating of 3 out of 10. We evaluated ASB against 393 industry peers in the Banks industry. ASB may be in some trouble as it scores bad on both profitability and health. ASB is not valued too expensively and it also shows a decent growth rate.

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1. Profitability

1.1 Basic Checks

In the past year ASB was profitable.

In the past year ASB had a positive cash flow from operations.

Each year in the past 5 years ASB has been profitable.

ASB had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

ASB has a worse Return On Assets (0.29%) than 83.97% of its industry peers.

With a Return On Equity value of 2.66%, ASB is not doing good in the industry: 84.48% of the companies in the same industry are doing better.

		Industry Rank	Sector Rank
ROA	0.29%
ROE	2.66%
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

With a Profit Margin value of 11.50%, ASB is not doing good in the industry: 80.66% of the companies in the same industry are doing better.

ASB's Profit Margin has declined in the last couple of years.

ASB does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	11.5%
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

ASB has a debt to FCF ratio of 1.31. This is a very positive value and a sign of high solvency as it would only need 1.31 years to pay back of all of its debts.

Looking at the Debt to FCF ratio, with a value of 1.31, ASB is in the better half of the industry, outperforming 63.61% of the companies in the same industry.

ASB has a Debt/Equity ratio of 0.14. This is a healthy value indicating a solid balance between debt and equity.

ASB has a Debt to Equity ratio (0.14) which is in line with its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.14
Debt/FCF	1.31
Altman-Z	N/A

ROIC/WACCN/A

WACC18.91%

2.3 Liquidity

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

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

ASB shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.88%.

The Earnings Per Share has been growing slightly by 3.84% on average over the past years.

Looking at the last year, ASB shows a small growth in Revenue. The Revenue has grown by 1.58% in the last year.

ASB shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -3.13% yearly.

EPS 1Y (TTM)3.88%

EPS 3Y2.96%

EPS 5Y3.84%

EPS Q2Q%-12.16%

Revenue 1Y (TTM)1.58%

Revenue growth 3Y-0.65%

Revenue growth 5Y-3.13%

Sales Q2Q%14.06%

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 10.35% on average per year.

The Revenue is expected to grow by 11.39% on average over the next years. This is quite good.

EPS Next Y10.78%

EPS Next 2Y8.84%

EPS Next 3Y10.35%

EPS Next 5YN/A

Revenue Next Year20.39%

Revenue Next 2Y12.8%

Revenue Next 3Y11.39%

Revenue Next 5YN/A

3.3 Evolution

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

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

A Price/Earnings ratio of 11.18 indicates a reasonable valuation of ASB.

Based on the Price/Earnings ratio, ASB is valued a bit cheaper than the industry average as 70.99% of the companies are valued more expensively.

ASB is valuated cheaply when we compare the Price/Earnings ratio to 27.14, which is the current average of the S&P500 Index.

ASB is valuated reasonably with a Price/Forward Earnings ratio of 9.51.

Compared to the rest of the industry, the Price/Forward Earnings ratio of ASB indicates a somewhat cheap valuation: ASB is cheaper than 65.65% of the companies listed in the same industry.

The average S&P500 Price/Forward Earnings ratio is at 22.80. ASB is valued rather cheaply when compared to this.

		Industry Rank	Sector Rank
PE	11.18
Fwd PE	9.51

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, ASB is valued a bit cheaper than the industry average as 78.63% of the companies are valued more expensively.

		Industry Rank	Sector Rank
P/FCF	8.78
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)1.04

PEG (5Y)2.91

EPS Next 2Y8.84%

EPS Next 3Y10.35%

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5. Dividend

5.1 Amount

ASB has a Yearly Dividend Yield of 3.65%. Purely for dividend investing, there may be better candidates out there.

Compared to an average industry Dividend Yield of 3.30, 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 2.34.

		Industry Rank	Sector Rank
Dividend Yield	3.65%

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 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

5.3 Sustainability

126.42% of the earnings are spent on dividend by ASB. This is not a sustainable payout ratio.

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

DP126.42%

EPS Next 2Y8.84%

EPS Next 3Y10.35%

More info and screens

Find the best dividend stocks

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ASSOCIATED BANC-CORP

NYSE:ASB (8/27/2025, 8:04:00 PM)

After market: 26.94 0 (0%)

26.94

+0.23 (+0.86%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)07-24 2025-07-24/amc

Earnings (Next)10-22 2025-10-22/amc

Inst Owners87.88%

Inst Owner Change-2.03%

Ins Owners0.78%

Ins Owner Change3.57%

Market Cap4.47B

Analysts68.57

Price Target29.17 (8.28%)

Short Float %3.42%

Short Ratio3.73

Dividend

		Industry Rank	Sector Rank
Dividend Yield	3.65%

Yearly Dividend0.95

Dividend Growth(5Y)3.73%

DP126.42%

Div Incr Years13

Div Non Decr Years14

Ex-Date09-02 2025-09-02 (0.23)

Surprises & Revisions

EPS beat(2)2

Avg EPS beat(2)6.09%

Min EPS beat(2)4.04%

Max EPS beat(2)8.15%

EPS beat(4)4

Avg EPS beat(4)7.23%

Min EPS beat(4)4.04%

Max EPS beat(4)11.39%

EPS beat(8)8

Avg EPS beat(8)9.51%

EPS beat(12)11

Avg EPS beat(12)6.82%

EPS beat(16)15

Avg EPS beat(16)10.92%

Revenue beat(2)1

Avg Revenue beat(2)-0.82%

Min Revenue beat(2)-1.88%

Max Revenue beat(2)0.23%

Revenue beat(4)2

Avg Revenue beat(4)8.02%

Min Revenue beat(4)-1.95%

Max Revenue beat(4)35.66%

Revenue beat(8)3

Avg Revenue beat(8)7.83%

Revenue beat(12)4

Avg Revenue beat(12)4.96%

Revenue beat(16)6

Avg Revenue beat(16)3.75%

PT rev (1m)5.54%

PT rev (3m)8.15%

EPS NQ rev (1m)5.6%

EPS NQ rev (3m)6.09%

EPS NY rev (1m)4.01%

EPS NY rev (3m)3.76%

Revenue NQ rev (1m)2.37%

Revenue NQ rev (3m)1.87%

Revenue NY rev (1m)1.56%

Revenue NY rev (3m)1.36%

Valuation

		Industry Rank	Sector Rank
PE	11.18
Fwd PE	9.51
P/S	4.04
P/FCF	8.78
P/OCF	8.1
P/B	0.93
P/tB	1.25
EV/EBITDA	N/A

EPS(TTM)2.41

EY8.95%

EPS(NY)2.83

Fwd EY10.51%

FCF(TTM)3.07

FCFY11.39%

OCF(TTM)3.33

OCFY12.35%

SpS6.66

BVpS28.83

TBVpS21.49

PEG (NY)1.04

PEG (5Y)2.91

Profitability

		Industry Rank	Sector Rank
ROA	0.29%
ROE	2.66%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	11.5%
GM	N/A
FCFM	46.05%

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 Turnover0.03

Health

		Industry Rank	Sector Rank
Debt/Equity	0.14
Debt/FCF	1.31
Debt/EBITDA	N/A
Cap/Depr	72.73%
Cap/Sales	3.89%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	400.32%
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score4

WACC18.91%

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)3.88%

EPS 3Y2.96%

EPS 5Y3.84%

EPS Q2Q%-12.16%

EPS Next Y10.78%

EPS Next 2Y8.84%

EPS Next 3Y10.35%

EPS Next 5YN/A

Revenue 1Y (TTM)1.58%

Revenue growth 3Y-0.65%

Revenue growth 5Y-3.13%

Sales Q2Q%14.06%

Revenue Next Year20.39%

Revenue Next 2Y12.8%

Revenue Next 3Y11.39%

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 1Y6.59%

FCF growth 3Y3.89%

FCF growth 5Y1.1%

OCF growth 1Y2.89%

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

More info and screens