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ASSOCIATED BANC-CORP (ASB) Stock Fundamental Analysis

USA - New York Stock Exchange - NYSE:ASB - US0454871056 - Common Stock

25.76 USD
-0.17 (-0.66%)
Last: 12/31/2025, 8:04:00 PM
25.76 USD
0 (0%)
After Hours: 12/31/2025, 8:04:00 PM
Fundamental Rating

4

ASB gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 388 industry peers in the Banks industry. ASB may be in some trouble as it scores bad on both profitability and health. A decent growth rate in combination with a cheap valuation! Better keep an eye on ASB.


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.
In the past 5 years ASB has always been profitable.
In the past 5 years ASB always reported a positive cash flow from operatings.
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

Looking at the Return On Assets, with a value of 0.37%, ASB is doing worse than 83.76% of the companies in the same industry.
The Return On Equity of ASB (3.36%) is worse than 83.76% 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

ASB's Profit Margin of 14.09% is on the low side compared to the rest of the industry. ASB is outperformed by 78.35% of its industry peers.
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

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.
ASB has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, ASB has a worse debt to assets ratio.
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's Debt to FCF ratio of 1.77 is in line compared to the rest of the industry. ASB outperforms 52.06% of its industry peers.
A Debt/Equity ratio of 0.20 indicates that ASB is not too dependend on debt financing.
The Debt to Equity ratio of ASB (0.20) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 1.77
Altman-Z N/A
ROIC/WACCN/A
WACC19.06%
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

5

3. Growth

3.1 Past

ASB shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 9.79%, which is quite good.
The Earnings Per Share has been growing slightly by 3.84% on average over the past years.
The Revenue has been growing slightly by 5.93% in the past year.
The Revenue has been decreasing by -3.13% on average over the past years.
EPS 1Y (TTM)9.79%
EPS 3Y2.96%
EPS 5Y3.84%
EPS Q2Q%30.36%
Revenue 1Y (TTM)5.93%
Revenue growth 3Y-0.65%
Revenue growth 5Y-3.13%
Sales Q2Q%17.21%

3.2 Future

The Earnings Per Share is expected to grow by 10.26% 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 12.16% on average per year.
EPS Next Y13.46%
EPS Next 2Y8.77%
EPS Next 3Y10.26%
EPS Next 5YN/A
Revenue Next Year21.19%
Revenue Next 2Y15.06%
Revenue Next 3Y12.16%
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.
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

7

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 9.98, which indicates a very decent valuation of ASB.
80.93% of the companies in the same industry are more expensive than ASB, based on the Price/Earnings ratio.
ASB is valuated cheaply when we compare the Price/Earnings ratio to 26.51, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 9.11, 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 69.85% of the companies are valued more expensively.
ASB is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.13, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 9.98
Fwd PE 9.11
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

Compared to the rest of the industry, the Price/Free Cash Flow ratio of ASB indicates a rather cheap valuation: ASB is cheaper than 81.19% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 7.59
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 low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.74
PEG (5Y)2.6
EPS Next 2Y8.77%
EPS Next 3Y10.26%

6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.62%, ASB has a reasonable but not impressive dividend return.
ASB's Dividend Yield is a higher than the industry average which is at 2.74.
ASB's Dividend Yield is rather good when compared to the S&P500 average which is at 2.00.
Industry RankSector Rank
Dividend Yield 3.62%

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 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
ASB Yearly Dividends per shareASB Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

ASB pays out 101.18% 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.
DP101.18%
EPS Next 2Y8.77%
EPS Next 3Y10.26%
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

ASSOCIATED BANC-CORP

NYSE:ASB (12/31/2025, 8:04:00 PM)

After market: 25.76 0 (0%)

25.76

-0.17 (-0.66%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-23 2025-10-23/amc
Earnings (Next)01-21 2026-01-21/amc
Inst Owners87.36%
Inst Owner Change1.39%
Ins Owners0.77%
Ins Owner Change-0.71%
Market Cap4.27B
Revenue(TTM)1.16B
Net Income(TTM)163.70M
Analysts68.57
Price Target29.99 (16.42%)
Short Float %2.46%
Short Ratio2.26
Dividend
Industry RankSector Rank
Dividend Yield 3.62%
Yearly Dividend0.95
Dividend Growth(5Y)3.73%
DP101.18%
Div Incr Years13
Div Non Decr Years14
Ex-DateN/A
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)1.03%
PT rev (3m)2.8%
EPS NQ rev (1m)0.55%
EPS NQ rev (3m)1.15%
EPS NY rev (1m)-0.2%
EPS NY rev (3m)2.42%
Revenue NQ rev (1m)0.16%
Revenue NQ rev (3m)0.1%
Revenue NY rev (1m)0.2%
Revenue NY rev (3m)0.67%
Valuation
Industry RankSector Rank
PE 9.98
Fwd PE 9.11
P/S 3.68
P/FCF 7.59
P/OCF 7.07
P/B 0.88
P/tB 1.17
EV/EBITDA N/A
EPS(TTM)2.58
EY10.02%
EPS(NY)2.83
Fwd EY10.98%
FCF(TTM)3.39
FCFY13.17%
OCF(TTM)3.64
OCFY14.15%
SpS7
BVpS29.34
TBVpS22.02
PEG (NY)0.74
PEG (5Y)2.6
Graham Number41.27
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
WACC19.06%
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)9.79%
EPS 3Y2.96%
EPS 5Y3.84%
EPS Q2Q%30.36%
EPS Next Y13.46%
EPS Next 2Y8.77%
EPS Next 3Y10.26%
EPS Next 5YN/A
Revenue 1Y (TTM)5.93%
Revenue growth 3Y-0.65%
Revenue growth 5Y-3.13%
Sales Q2Q%17.21%
Revenue Next Year21.19%
Revenue Next 2Y15.06%
Revenue Next 3Y12.16%
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 4 / 10 to ASB.


What is the valuation status for ASB stock?

ChartMill assigns a valuation rating of 7 / 10 to ASSOCIATED BANC-CORP (ASB). This can be considered as Undervalued.


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 9.98 and the Price/Book (PB) ratio is 0.88.


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%.