ASB
Associated Banc-Corp
ASB's fundamentals are strong: revenue grew 45% and its operating margin rose 19 points to 39%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
ASB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
ASB's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like ASB.
ASB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.6x | $22.02 | -29% |
| Forward | 9.4x | $30.81 | — |
| Fair | 11x | $30.62 | -0.6% |
| Current | 11x | $30.81 | — |
| Expensive | 22x | $62.92 | +104% |
Historical ranges are pointers, not guarantees.
ASB's PE is 11x, but its earnings don't support one, so it isn't a reliable read right now.
ASB Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ASB, with profitability holding steady.
ASB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.30 | +14% |
| Q3 2026 | $2.89 | +232% |
| Q2 2026 | $2.86 | +309% |
| Q1 2026 | $2.88 | +265% |
| Q4 2025 | $2.77 | +285% |
| Q3 2025 | $0.87 | -28% |
| Q2 2025 | $0.70 | -40% |
| Q1 2025 | $0.79 | -20% |
| Q4 2024 | $0.72 | -36% |
ASB's earnings per share have jumped to their highest in seven years: $2.89 over the past year, up from $0.87 the year before. Its recent earnings include one-off gains.
ASB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $464.4M | +20% |
| Q2 2026 | $450.4M | +23% |
| Q1 2026 | $383M | +11% |
| Q4 2025 | $389.4M | +513% |
| Q3 2025 | $386.5M | +17% |
| Q2 2025 | $367M | +14% |
| Q1 2025 | $344.7M | +6.8% |
| Q4 2024 | $63.5M | -48% |
ASB's revenue has grown year over year for seven quarters in a row: $464M last quarter, up 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 41% | +1 points |
| Q2 2026 | 35% | -2.7 points |
| Q1 2026 | 40% | +4.8 points |
| Q4 2025 | 42% | +322 points |
| Q3 2025 | 40% | +7.1 points |
| Q2 2025 | 38% | +6.1 points |
| Q1 2025 | 35% | +3.8 points |
| Q4 2024 | -280% | -167 points |
ASB's operating margin was 41% last quarter, up 1 points from the same quarter a year ago.
ASB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $329.2M | +108% |
| Q2 2026 | $207.1M | +46% |
| Q1 2026 | $135.9M | +38% |
| Q4 2025 | $218.1M | +5.3% |
| Q3 2025 | $158M | +50% |
| Q2 2025 | $141.5M | +25% |
| Q1 2025 | $98.2M | -36% |
| Q4 2024 | $207.1M | +220% |
ASB's free cash flow was $890M over the past year, up 47% from the year before. Free cash flow isn't a meaningful measure for financial services companies like ASB.
ASB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -1.4M shares |
| 1 year | +13% | +21.8M shares |
| 3 years | +25% | +37.5M shares |
| 5 years | +25% | +37.4M shares |
| Available history | +16% | +26.6M shares |
ASB has 189M diluted shares, up 13% from a year ago.
ASB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 0.8x | Very low |
| Q4 2025 | 1.2x | Healthy |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 0.6x | Very low |
| Q1 2025 | 1.8x | Healthy |
| Q4 2024 | 2.2x | Moderate |
ASB's net debt is less than a year of its operating earnings (EBITDA), down from 1.7 years a year ago. Net leverage isn't a meaningful measure for financial services companies like ASB.
ASB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.3 | Neutral |
| Stochastic | 55.9 | Neutral |
ASB's weekly RSI is 58 (neutral) and its Stochastic is 56 (neutral).
ASB PE vs Financial Services Sector
| Metric | ASB | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 18% below |
| PE % | 51 | 63 | 12 pts below |
ASB is trading at 11x earnings, a 18% discount to the Financial Services sector's median of 13x, though its earnings don't support one.
ASB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.7 | 3.7% above |
| 20 week MA | $30.4 | 1.3% above |
| 50 week MA | $28.5 | 8.2% above |
| 100 week MA | $26.4 | 17% above |
| 200 week MA | $23.3 | 32% above |
ASB is in an uptrend: it's above all five of its weekly moving averages, and 32% above its 200-week average.
ASB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $22.0 | $17.0 | -23% |
| 2021 | $17.0 | $22.5 | +32% |
| 2022 | $22.5 | $22.7 | +1.2% |
| 2023 | $22.7 | $21.4 | -5.9% |
| 2024 | $21.4 | $24.1 | +12% |
| 2025 | $24.1 | $26.4 | +9.6% |
| 2026 YTD | $26.4 | $30.8 | +17% |
ASB has finished higher in four of the last six years. It's up 17% so far in 2026.