ASSOCIATED BANC-CORP (ASB) Stock Fundamental Analysis

NYSE:ASB • US0454871056

27.59 USD
+0.35 (+1.28%)
Last: Feb 25, 2026, 03:50 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

Taking everything into account, ASB scores 5 out of 10 in our fundamental rating. ASB was compared to 379 industry peers in the Banks industry. ASB has a medium profitability rating, but doesn't score so well on its financial health evaluation. ASB is not valued too expensively and it also shows a decent growth rate. ASB also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • In the past year ASB was profitable.
  • ASB had a positive operating cash flow in the past year.
  • 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.
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's Return On Assets of 1.02% is fine compared to the rest of the industry. ASB outperforms 61.21% of its industry peers.
  • With a Return On Equity value of 9.27%, ASB perfoms like the industry average, outperforming 54.35% of the companies in the same industry.
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

  • With an excellent Profit Margin value of 30.99%, ASB belongs to the best of the industry, outperforming 81.53% of the companies in the same industry.
  • ASB's Profit Margin has improved 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 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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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

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.
  • Compared to 5 years ago, ASB has more shares outstanding
  • The debt/assets ratio for ASB has been reduced compared to a year ago.
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.
  • The Debt to FCF ratio of ASB (1.56) is comparable to the rest of the industry.
  • A Debt/Equity ratio of 0.18 indicates that ASB is not too dependend on debt financing.
  • The Debt to Equity ratio of ASB (0.18) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF 1.56
Altman-Z N/A
ROIC/WACCN/A
WACC15.78%
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. 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.
  • ASB shows a strong growth in Revenue. In the last year, the Revenue has grown by 43.33%.
  • ASB shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.10% yearly.
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 6.90% 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 Y1.34%
EPS Next 2Y6.9%
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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Find the best growth stocksShow best growing peers

6

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 9.82, the valuation of ASB can be described as reasonable.
  • Based on the Price/Earnings ratio, ASB is valued cheaper than 83.91% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.98, ASB is valued rather cheaply.
  • Based on the Price/Forward Earnings ratio of 9.69, 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 69.13% of the companies are valued more expensively.
  • ASB's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.01.
Industry RankSector Rank
PE 9.82
Fwd PE 9.69
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 82.85% of the companies in the same industry.
Industry RankSector Rank
P/FCF 7.9
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)7.33
PEG (5Y)0.52
EPS Next 2Y6.9%
EPS Next 3YN/A

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

8

5. Dividend

5.1 Amount

  • ASB has a Yearly Dividend Yield of 3.39%.
  • Compared to an average industry Dividend Yield of 2.74, ASB pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.81, ASB pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.39%

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 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

  • ASB pays out 36.29% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of ASB is growing, but earnings are growing more, so the dividend growth is sustainable.
DP36.29%
EPS Next 2Y6.9%
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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ASSOCIATED BANC-CORP

NYSE:ASB (2/25/2026, 3:50:52 PM)

27.59

+0.35 (+1.28%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-22
Earnings (Next)04-22
Inst Owners87.31%
Inst Owner Change0.48%
Ins Owners0.77%
Ins Owner Change1.23%
Market Cap4.58B
Revenue(TTM)1.49B
Net Income(TTM)461.00M
Analysts68.57
Price Target30.8 (11.63%)
Short Float %3.67%
Short Ratio2.6
Dividend
Industry RankSector Rank
Dividend Yield 3.39%
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)2.72%
PT rev (3m)3.78%
EPS NQ rev (1m)-0.15%
EPS NQ rev (3m)1%
EPS NY rev (1m)0.19%
EPS NY rev (3m)-0.32%
Revenue NQ rev (1m)0.41%
Revenue NQ rev (3m)0.88%
Revenue NY rev (1m)0.65%
Revenue NY rev (3m)7.97%
Valuation
Industry RankSector Rank
PE 9.82
Fwd PE 9.69
P/S 3.08
P/FCF 7.9
P/OCF 7.44
P/B 0.92
P/tB 1.22
EV/EBITDA N/A
EPS(TTM)2.81
EY10.18%
EPS(NY)2.85
Fwd EY10.32%
FCF(TTM)3.49
FCFY12.65%
OCF(TTM)3.71
OCFY13.44%
SpS8.96
BVpS29.98
TBVpS22.66
PEG (NY)7.33
PEG (5Y)0.52
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
WACC15.78%
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 Y1.34%
EPS Next 2Y6.9%
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 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 9.82 and the Price/Book (PB) ratio is 0.92.


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%.