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ASSOCIATED BANC-CORP ASB

NYSE · stock · State Commercial Banks · website · IPO 1980-03-17 · LEI

ASSOCIATED BANC-CORP statistics & valuation

Market cap$5.2B
P / E11.0×
P / B1.0×
Dividend yield3.00%
Return on equity9.5%
Net debt$594.3M
Enterprise value USD$5.8B
Graham number +34.3%$43.14

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($43.14); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
6.50% 7.10% 8.80% 8.30% 7.50% 8.70% 9.10% 4.40% 2.70% 9.50% 2016201720182019202020212022202320242025
Shares outstanding
150.0M 153.6M 169.7M 161.9M 153.6M 152.0M 150.5M 151.0M 166.2M 166.6M 2016201720182019202020212022202320242025
Net debt ($)
$2.12B -$218.7M -$81.1M $549.3M $549.5M $249.3M $248.1M $541.3M $837.6M $594.3M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
0.70% 0.80% 1.00% 1.00% 0.90% 1.00% 0.90% 0.40% 0.30% 1.10% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.89× 0.15× 0.21× 0.14× 0.13× 0.06× 0.06× 0.13× 0.18× 0.12× 2016201720182019202020212022202320242025
EPS ($)
$1.26 $1.42 $1.89 $1.91 $1.86 $2.18 $2.34 $1.13 $0.72 $2.77 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

ASSOCIATED BANC-CORP trades at about 11.6× earnings — near its 10-year norm (10-year range 9.6×–34.9×, median 11.5×).

9.6× 34.9×

Shaded band = 10-year range (9.6×–34.9×); dot = today's 11.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Net margin——16.6%29.5%33.2%24.0%26.9%27.0%21.3%18.9%
Return on assets1.1%0.3%0.4%0.9%1.0%0.9%1.0%1.0%0.8%0.7%
Return on equity9.5%2.7%4.4%9.1%8.7%7.5%8.3%8.8%7.1%6.5%
Debt / equity0.12×0.18×0.13×0.06×0.06×0.13×0.14×0.21×0.15×0.89×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.