Saturday 17 October 2026 Export ASB’s income statement to Excel — free account

Associated Banc-Corp

Associated Banc-Corp’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 16.4% from fiscal 2024. In the quarter to June 2026, revenue grew 14.9%, EPS fell 3.03%, free cash flow grew 48.8% and total debt rose 15.5%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for three.

28.96 0.12 +0.42%

Follow ASB

Alert me

Market cap: $5.5B
P/E: 10.1×
Fwd P/E: 9.8×
Dividend yield: 3.31%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 9.95

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	3	—	3	—	1	2	2	3	3	1	—

Insider Ownership 12.15%

Capital & Financial Ratios $m

Market Cap 5,450.00

Revenue 2,569.18

Net Income 505.06

Free Cash Flow 679.64

Net Debt 3,334.97

Current Ratio 0.93

Debt/Equity 0.92

P/E ratio 10.06

Fwd P/E 9.82

P/S ratio 2.12

P/B ratio 1.00

Past 5Y EPS Growth 8.29%

This Y EPS Growth 7.10%

Next Y EPS Growth 12.11%

Next Y revenue growth (27.90%)

Next 5Y EPS Growth 10.19%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 27.83%

10-year low 10-year high

P/S against its own 10 years 43.13%

10-year low 10-year high

P/B against its own 10 years 73.57%

10-year low 10-year high

Dividends

Payout Ratio 0.34

Annual Dividend Rate 0.96

Annual Dividend Yield 3.31%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.97	0.24 0.24 0.24
2025	0.93	0.23 0.23 0.23 0.24
2024	0.89	0.22 0.22 0.22 0.23
2023	0.85	0.21 0.21 0.21 0.22
2022	0.81	0.20 0.20 0.20 0.21
2021	0.76	0.18 0.18 0.20 0.20
2020	0.72	0.18 0.18 0.18 0.18
2019	0.69	0.17 0.17 0.17 0.18
2018	0.62	0.15 0.15 0.15 0.17
2017	0.50	0.12 0.12 0.12 0.14
2016	0.45	0.11 0.11 0.11 0.12

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	924	1,020	1,720	1,831
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	30,082	31,272	32,739	38,146

	2023	2024	2025	Q'26
Payables	33,446	34,648	35,553	39,931
ST’ Debt	—	—	—	—
Other	—	—	—	—
	34,326	35,687	36,324	40,958

Compound Annual Growth %

	10y	5y	3y
Sales	8.55%	11.50%	19.87%
Cash Flow	7.41%	2.28%	(10.07%)
Earnings	9.91%	9.83%	9.37%
Book Value	5.41%	3.99%	7.41%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	604	704	—	—	—
’25	585	613	638	624	2,459
’24	588	595	608	322	2,113
’23	505	547	575	394	2,021
’22	277	312	385	453	1,428
’21	292	273	282	283	1,131
’20	362	479	289	297	1,427

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	136	207	—	—	—
’25	98	141	158	218	616
’24	155	113	105	207	580
’23	47	131	199	65	443
’22	246	243	233	124	847
’21	158	72	134	165	530
’20	(20)	306	137	127	550

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	127	195	—	—	—
’25	91	131	147	210	579
’24	146	102	93	194	535
’23	34	116	185	46	381
’22	229	227	221	107	784
’21	151	59	119	147	477
’20	(31)	295	125	107	495

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.70	0.63	—	—	—
’25	0.59	0.65	0.73	0.80	2.77
’24	0.52	0.74	0.56	(1.03)	0.72
’23	0.66	0.56	0.53	(0.62)	1.13
’22	0.47	0.56	0.62	0.70	2.34
’21	0.58	0.56	0.56	0.49	2.18
’20	0.27	0.94	0.26	0.40	1.86

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	15.45	20.95	18.53	18.52	10.23	16.87	17.45	14.47	19.40	18.32	Analyst estimates 2026–2028 Powerpack
	High	25.43	26.70	29.03	23.84	22.13	24.06	25.78	24.21	28.18	27.58
People
People	Employees	4,441	4,388	4,655	4,669	4,459	4,003	4,118	4,100	4,000	4,000
	Revenue/emp, $m	0.26	0.28	0.32	0.33	0.32	0.28	0.35	0.49	0.53	0.61
Income, $m
Income, $m	Revenue	1,144	1,219	1,510	1,553	1,427	1,131	1,428	2,021	2,113	2,459
	Gross margin, %	92.63	88.08	81.81	78.31	89.50	93.60	86.84	54.56	49.11	60.49
	EBT	288	339	413	407	327	436	460	206	134	578
	EBT margin, %	25.13	27.78	27.38	26.17	22.91	38.59	32.20	10.19	6.36	23.50
	Net income	200	229	334	327	307	351	366	183	123	475
	Depreciation	112	116	97	124	111	105	81	118	133	139
Per share, $
Per share, $	Revenue	7.69	8.08	9.02	9.68	9.33	7.50	9.57	13.48	13.91	14.90
	Earnings	1.27	1.45	1.92	1.93	1.87	2.20	2.36	1.14	0.73	2.79
	Cash flow	4.31	3.04	2.97	3.58	3.59	3.51	5.68	2.95	3.82	3.73
	Capex	(0.70)	(0.31)	(0.39)	(0.42)	(0.36)	(0.35)	(0.42)	(0.41)	(0.30)	(0.22)
	Free cash flow	3.61	2.72	2.57	3.16	3.24	3.17	5.26	2.54	3.52	3.51
	Book value	20.78	21.46	22.59	24.43	26.74	26.69	26.92	27.83	30.31	30.14
	Shares, m	149	151	167	161	153	151	149	150	152	165
Valuation, ×
Valuation, ×	P/E	19.65	17.28	10.25	11.48	9.12	10.32	9.82	19.25	30.25	9.20
	P/S	3.24	3.14	2.19	2.28	1.83	3.01	2.42	1.61	1.72	1.73
	P/B	1.27	1.25	0.94	0.97	0.70	0.89	0.90	0.82	0.82	0.89
	EV/Sales	5.05	5.52	4.51	4.30	2.86	3.76	5.19	2.38	2.51	2.60
	EV/FCF	10.75	16.37	15.80	13.18	8.23	8.91	9.45	12.66	9.91	11.04
Cash, $m
Cash, $m	Operating cash flow	641	458	497	574	550	530	847	443	580	616
	Capex	(104)	(47)	(66)	(67)	(55)	(52)	(63)	(62)	(45)	(36)
	Free cash flow	538	411	431	507	495	477	784	381	535	579
Balance, $m
Balance, $m	Working capital	(2,695)	(2,174)	(1,806)	(1,261)	(2,095)	(3,982)	(1,510)	(4,244)	(4,416)	(3,584)
	Total debt	2,762	3,681	4,370	3,730	2,182	1,870	4,568	2,481	2,691	3,862
	Net debt	2,067	2,896	3,493	3,142	1,466	845	3,946	1,558	1,672	2,142
	Shareholders’ equity	3,091	3,237	3,781	3,922	4,091	4,025	4,015	4,174	4,606	4,975
Returns, %
Returns, %	ROA	0.67	0.74	1.01	0.94	0.88	0.97	0.95	0.42	0.26	1.05
	ROIC	3.48	3.45	3.80	3.60	3.68	5.60	3.61	2.25	1.34	5.07
	ROE	6.66	7.32	9.78	8.67	7.79	8.76	9.21	4.37	2.64	10.03

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
FNB F.N.B. Corporation	$6.1B	10.3×	10.2×	+0.15% (above 0%: growing)	+16.67% (above 0%: growing)	+183.53% (above 0%: growing)	68.59%	0.00%	Compare
HWC Hancock Whitney Corporation	$5.9B	14.2×	13.1×	+4.02% (above 0%: growing)	+18.18% (above 0%: growing)	+23.30% (above 0%: growing)	77.00%	0.00%	Compare
HOMB Home BancShares, Inc.	$5.8B	12.0×	11.0×	+1.68% (above 0%: growing)	+2.81% (above 0%: growing)	+20.30% (above 0%: growing)	75.64%	0.00%	Compare
GBCI Glacier Bancorp, Inc.	$5.7B	18.0×	15.3×	+19.14% (above 0%: growing)	+66.67% (above 0%: growing)	+42.03% (above 0%: growing)	78.15%	0.00%	Compare
AUB Atlantic Union Bankshares Corporation	$5.5B	11.4×	10.0×	−2.50% (below 0%: shrinking)	+825.00% (above 0%: growing)	−92.37% (below 0%: shrinking)	71.98%	0.00%	Compare
ASB Associated Banc-Corp	$5.5B	10.1×	9.8×	+14.89% (above 0%: growing)	−3.03% (below 0%: shrinking)	+48.78% (above 0%: growing)	64.01%	0.00%
ABCB Ameris Bancorp	$5.4B	14.4×	12.7×	+5.42% (above 0%: growing)	−51.88% (below 0%: shrinking)	+31.88% (above 0%: growing)	74.25%	0.00%	Compare
OZK Bank OZK	$5.0B	7.6×	8.3×	−3.82% (below 0%: shrinking)	−6.29% (below 0%: shrinking)	+47.62% (above 0%: growing)	63.91%	0.00%	Compare
AX AXOS FINANCIAL, INC	$5.0B	10.2×	9.1×	+15.98% (above 0%: growing)	+12.24% (above 0%: growing)	+22.36% (above 0%: growing)	67.69%	0.00%	Compare
Median of peers	$5.6B	11.7×	10.6×	+2.85%	+14.45%	+27.59%	73.12%	0.00%

All 323 Banks Regional stocks →

Associated Banc-Corp (ASB) key facts

Strength: Associated Banc-Corp’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 16.4% from fiscal 2024.
Associated Banc-Corp (ASB) is a Banks Regional company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, ASB traded at $28.96, a market capitalization of $5.5 billion.
Associated Banc-Corp pays an annual dividend of $0.96 per share, a yield of 3.31%, with a payout ratio of 33.6%.
Return on equity was 10.0% and debt-to-equity 0.92.
Its Piotroski F-score is 7 out of 9 for fiscal 2025.