ASSOCIATED BANC-CORP (ASB) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:ASB • US0454871056

28.7 USD
-0.09 (-0.31%)
At close: Feb 5, 2026
28.69 USD
-0.01 (-0.03%)
After Hours: 2/5/2026, 8:09:49 PM
Fundamental Rating

3

ASB gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 383 industry peers in the Banks industry. Both the profitability and financial health of ASB have multiple concerns. ASB has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

2

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.
  • Of the past 5 years ASB 4 years were profitable.
  • ASB had a positive operating cash flow in 4 of the past 5 years.
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 200M 400M 600M 800M

1.2 Ratios

  • ASB has a worse Return On Assets (0.37%) than 84.60% of its industry peers.
  • ASB has a Return On Equity of 3.36%. This is amonst the worse of the industry: ASB underperforms 84.60% of its industry peers.
Industry RankSector Rank
ROA 0.37%
ROE 3.36%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

  • Looking at the Profit Margin, with a value of 14.09%, ASB is doing worse than 78.85% of the companies in the same industry.
  • ASB's Profit Margin has declined 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) 14.09%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. Health

2.1 Basic Checks

  • ASB does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • There is no outstanding debt for ASB. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
ASB Yearly Shares OutstandingASB Yearly Shares OutstandingYearly Shares Outstanding 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B

2.2 Solvency

  • The Debt to FCF ratio of ASB is 1.77, which is an excellent value as it means it would take ASB, only 1.77 years of fcf income to pay off all of its debts.
  • ASB has a Debt to FCF ratio (1.77) which is in line with its industry peers.
  • A Debt/Equity ratio of 0.20 indicates that ASB is not too dependend on debt financing.
  • ASB's Debt to Equity ratio of 0.20 is in line compared to the rest of the industry. ASB outperforms 42.04% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 1.77
Altman-Z N/A
ROIC/WACCN/A
WACC18.35%
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 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 200M 400M 600M 800M 1B

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

3

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 17.57% over the past year.
  • The Earnings Per Share has been growing by 18.95% on average over the past years. This is quite good.
EPS 1Y (TTM)17.57%
EPS 3Y6.14%
EPS 5Y18.95%
EPS Q2Q%40.35%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%12.75%

3.2 Future

  • Based on estimates for the next years, ASB will show a small growth in Earnings Per Share. The EPS will grow by 6.60% on average per year.
  • Based on estimates for the next years, ASB will show a quite strong growth in Revenue. The Revenue will grow by 10.93% on average per year.
EPS Next Y1.14%
EPS Next 2Y6.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year12.69%
Revenue Next 2Y10.93%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 10.21, the valuation of ASB can be described as reasonable.
  • Based on the Price/Earnings ratio, ASB is valued cheaply inside the industry as 84.07% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 27.67. ASB is valued rather cheaply when compared to this.
  • A Price/Forward Earnings ratio of 10.10 indicates a reasonable valuation of ASB.
  • 68.93% of the companies in the same industry are more expensive than ASB, based on the Price/Forward Earnings ratio.
  • ASB's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.20.
Industry RankSector Rank
PE 10.21
Fwd PE 10.1
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 rather cheap when compared to the industry. ASB is cheaper than 81.20% of the companies in the same industry.
Industry RankSector Rank
P/FCF 8.46
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 an expensive valuation of the company.
PEG (NY)8.93
PEG (5Y)0.54
EPS Next 2Y6.6%
EPS Next 3YN/A

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

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 3.51%, ASB has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.71, 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 1.82.
Industry RankSector Rank
Dividend Yield 3.51%

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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8

5.3 Sustainability

  • 101.18% of the earnings are spent on dividend by ASB. This is not a sustainable payout ratio.
  • The dividend of ASB is growing, but earnings are growing more, so the dividend growth is sustainable.
DP101.18%
EPS Next 2Y6.6%
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 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 (2/5/2026, 8:09:49 PM)

After market: 28.69 -0.01 (-0.03%)

28.7

-0.09 (-0.31%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-22
Earnings (Next)04-22
Inst Owners87.31%
Inst Owner Change-1.29%
Ins Owners0.77%
Ins Owner Change-0.59%
Market Cap4.76B
Revenue(TTM)N/A
Net Income(TTM)163.70M
Analysts68.57
Price Target29.99 (4.49%)
Short Float %3.32%
Short Ratio2.54
Dividend
Industry RankSector Rank
Dividend Yield 3.51%
Yearly Dividend0.95
Dividend Growth(5Y)3.73%
DP101.18%
Div Incr Years13
Div Non Decr Years14
Ex-Date03-02
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.47%
Min EPS beat(2)4.04%
Max EPS beat(2)6.9%
EPS beat(4)4
Avg EPS beat(4)6.11%
Min EPS beat(4)4.04%
Max EPS beat(4)8.15%
EPS beat(8)8
Avg EPS beat(8)10.29%
EPS beat(12)11
Avg EPS beat(12)7.02%
EPS beat(16)15
Avg EPS beat(16)9.65%
Revenue beat(2)2
Avg Revenue beat(2)0.83%
Min Revenue beat(2)0.23%
Max Revenue beat(2)1.43%
Revenue beat(4)3
Avg Revenue beat(4)8.86%
Min Revenue beat(4)-1.88%
Max Revenue beat(4)35.66%
Revenue beat(8)4
Avg Revenue beat(8)8.3%
Revenue beat(12)4
Avg Revenue beat(12)4.7%
Revenue beat(16)7
Avg Revenue beat(16)3.84%
PT rev (1m)0%
PT rev (3m)0.68%
EPS NQ rev (1m)2.18%
EPS NQ rev (3m)2.41%
EPS NY rev (1m)0.06%
EPS NY rev (3m)2.23%
Revenue NQ rev (1m)0.12%
Revenue NQ rev (3m)0.31%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)0.8%
Valuation
Industry RankSector Rank
PE 10.21
Fwd PE 10.1
P/S 4.1
P/FCF 8.46
P/OCF 7.87
P/B 0.98
P/tB 1.3
EV/EBITDA N/A
EPS(TTM)2.81
EY9.79%
EPS(NY)2.84
Fwd EY9.9%
FCF(TTM)3.39
FCFY11.82%
OCF(TTM)3.64
OCFY12.7%
SpS7
BVpS29.34
TBVpS22.02
PEG (NY)8.93
PEG (5Y)0.54
Graham Number43.07
Profitability
Industry RankSector Rank
ROA 0.37%
ROE 3.36%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 14.09%
GM N/A
FCFM 48.45%
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
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 3Y-30.12%
PM growth 5Y-15.92%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 1.77
Debt/EBITDA N/A
Cap/Depr 70.74%
Cap/Sales 3.6%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 343.83%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score6
WACC18.35%
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)17.57%
EPS 3Y6.14%
EPS 5Y18.95%
EPS Q2Q%40.35%
EPS Next Y1.14%
EPS Next 2Y6.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%12.75%
Revenue Next Year12.69%
Revenue Next 2Y10.93%
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 1Y27.46%
FCF growth 3Y3.89%
FCF growth 5Y1.1%
OCF growth 1Y20.37%
OCF growth 3Y3.09%
OCF growth 5Y0.21%

ASSOCIATED BANC-CORP / ASB FAQ

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

ChartMill assigns a fundamental rating of 3 / 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 2 / 10.


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

The Price/Earnings (PE) ratio for ASSOCIATED BANC-CORP (ASB) is 10.21 and the Price/Book (PB) ratio is 0.98.


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

The dividend rating of ASSOCIATED BANC-CORP (ASB) is 6 / 10 and the dividend payout ratio is 101.18%.