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ASSOCIATED BANC-CORP (ASB) Stock Fundamental Analysis

NYSE:ASB - New York Stock Exchange, Inc. - US0454871056 - Common Stock - Currency: USD

23  -0.08 (-0.35%)

After market: 23 0 (0%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to ASB. ASB was compared to 396 industry peers in the Banks industry. ASB has a bad profitability rating. Also its financial health evaluation is rather negative. ASB has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year ASB was profitable.
ASB had a positive operating cash flow in the past year.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

1.2 Ratios

ASB has a worse Return On Assets (0.30%) than 84.09% of its industry peers.
With a Return On Equity value of 2.80%, ASB is not doing good in the industry: 84.09% of the companies in the same industry are doing better.
Industry RankSector 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
ASB Yearly ROA, ROE, ROICASB Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

ASB has a worse Profit Margin (12.39%) than 80.30% 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 RankSector 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
ASB Yearly Profit, Operating, Gross MarginsASB Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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2

2. Health

2.1 Basic Checks

ASB does not have a ROIC to compare to the WACC, probably because it is not profitable.
ASB has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, ASB has more shares outstanding
The debt/assets ratio for ASB is higher compared to a year ago.
ASB Yearly Shares OutstandingASB Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
ASB Yearly Total Debt VS Total AssetsASB Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B

2.2 Solvency

ASB has a debt to FCF ratio of 1.88. This is a very positive value and a sign of high solvency as it would only need 1.88 years to pay back of all of its debts.
ASB's Debt to FCF ratio of 1.88 is in line compared to the rest of the industry. ASB outperforms 51.26% of its industry peers.
ASB has a Debt/Equity ratio of 0.19. This is a healthy value indicating a solid balance between debt and equity.
ASB's Debt to Equity ratio of 0.19 is in line compared to the rest of the industry. ASB outperforms 44.44% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.19
Debt/FCF 1.88
Altman-Z N/A
ROIC/WACCN/A
WACC20.05%
ASB Yearly LT Debt VS Equity VS FCFASB Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 16.82% over the past year.
The Earnings Per Share has been growing slightly by 3.84% on average over the past years.
The Revenue has decreased by -2.73% in the past 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

The Earnings Per Share is expected to grow by 8.95% on average over the next years. This is quite good.
Based on estimates for the next years, ASB will show a quite strong growth in Revenue. The Revenue will grow by 11.23% on average per year.
EPS Next Y6.77%
EPS Next 2Y7.05%
EPS Next 3Y8.95%
EPS Next 5YN/A
Revenue Next Year18.78%
Revenue Next 2Y12.08%
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.
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 2014 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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6

4. Valuation

4.1 Price/Earnings Ratio

ASB is valuated reasonably with a Price/Earnings ratio of 9.20.
Based on the Price/Earnings ratio, ASB is valued cheaply inside the industry as 84.60% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of ASB to the average of the S&P500 Index (25.82), we can say ASB is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 8.40, the valuation of ASB can be described as reasonable.
ASB's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. ASB is cheaper than 70.45% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.76, ASB is valued rather cheaply.
Industry RankSector Rank
PE 9.2
Fwd PE 8.4
ASB Price Earnings VS Forward Price EarningsASB Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

ASB's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. ASB is cheaper than 78.79% of the companies in the same industry.
Industry RankSector Rank
P/FCF 7.95
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 PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.36
PEG (5Y)2.4
EPS Next 2Y7.05%
EPS Next 3Y8.95%

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6

5. Dividend

5.1 Amount

ASB has a Yearly Dividend Yield of 3.78%. 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 3.34.
Compared to an average S&P500 Dividend Yield of 2.36, ASB pays a better dividend.
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 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
ASB Yearly Dividends per shareASB Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

118.55% 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.
DP118.55%
EPS Next 2Y7.05%
EPS Next 3Y8.95%
ASB Yearly Income VS Free CF VS DividendASB Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
ASB Dividend Payout.ASB Dividend Payout, showing the Payout Ratio.ASB Dividend Payout.PayoutRetained Earnings

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ASSOCIATED BANC-CORP

NYSE:ASB (5/23/2025, 9:13:59 PM)

After market: 23 0 (0%)

23

-0.08 (-0.35%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)04-24 2025-04-24/amc
Earnings (Next)07-23 2025-07-23/amc
Inst Owners87.74%
Inst Owner Change-0.22%
Ins Owners0.86%
Ins Owner Change6.48%
Market Cap3.81B
Analysts69.23
Price Target26.97 (17.26%)
Short Float %3.75%
Short Ratio3.42
Dividend
Industry RankSector Rank
Dividend Yield 3.78%
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)-4.03%
PT rev (3m)-5.18%
EPS NQ rev (1m)3.68%
EPS NQ rev (3m)4.66%
EPS NY rev (1m)3.32%
EPS NY rev (3m)3.14%
Revenue NQ rev (1m)0.57%
Revenue NQ rev (3m)0.6%
Revenue NY rev (1m)0.27%
Revenue NY rev (3m)0.2%
Valuation
Industry RankSector Rank
PE 9.2
Fwd PE 8.4
P/S 3.6
P/FCF 7.95
P/OCF 7.28
P/B 0.81
P/tB 1.1
EV/EBITDA N/A
EPS(TTM)2.5
EY10.87%
EPS(NY)2.74
Fwd EY11.91%
FCF(TTM)2.89
FCFY12.59%
OCF(TTM)3.16
OCFY13.74%
SpS6.39
BVpS28.26
TBVpS20.9
PEG (NY)1.36
PEG (5Y)2.4
Profitability
Industry RankSector 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 RankSector 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
WACC20.05%
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 Y6.77%
EPS Next 2Y7.05%
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 Year18.78%
Revenue Next 2Y12.08%
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%