Valuation dashboard for Associated Banc-Corp (ASB) with P/E 10.77, P/B 1.06, EV/EBITDA 8.2 and dividend yield 3.08%. DCF, Graham Number, EPS growth, peer multiples and dividend discount models plus sector comparison against other Financial Services companies.
Associated Banc-Corp, a bank holding company, provides various banking and nonbanking products and services to individuals and businesses in Wisconsin, Illinois, Missouri, and Minnesota. It offers lending solutions, including commercial loans and lines of credit, commercial real estate financing, construction loans, letters of credit, leasing, asset-based lending and equipment finance, loan syndications products, residential mortgages, home equity loans and lines of credit, p...
What would it be worth at its usual multiples?
At Kaplio's cap P/B for its ROTCE 12.3 % (1.3×) $38 (+22 %); at its peers' median (1.4×) $41 (+31 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
Analysis Summary
Associated Banc-Corp reported revenue of $2.46B in the most recent fiscal year, growing at a 5-year CAGR of 11.8%. Net income reached $474.8M, with a 9.1% 5-year CAGR.
Trailing-twelve-month margins: gross margin 61.7%, operating margin 25.1%, net margin 19.9%.
At $31.13 (closing price, November 2, 2026), ASB trades at a P/E of 10.77 and an ROE of 10.00%. Market capitalisation stands at $5.2B.
Balance sheet quality for ASB: debt-to-equity ratio of 0.88, current ratio of 0.28 over the last 12 months. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Valuation Ratios
| P/E Ratio | 10.77 |
| Price / Book | 1.06 |
| EV / EBITDA | 8.2 |
| Dividend Yield | 3.08% |
Peer Comparison
| Symbol | Company | Market Cap | P/E | P/B | ROE |
|---|---|---|---|---|---|
| ASB | Associated Banc-Corp | $5.2B | 10.77 | 1.06 | 10.0% |
| CADE | Cadence Bank | $7.8B | 19.68 | 1.28 | 6.8% |
| FFIN | First Financial Bankshares, Inc. | $4.5B | 15.49 | 2.46 | 15.1% |
| IBOC | International Bancshares Corporation | $4.1B | 9.96 | 1.22 | 12.7% |
| TCBI | Texas Capital Bancshares, Inc. | $3.9B | 11.59 | 1.11 | 10.1% |
| BANF | BancFirst Corporation | $3.8B | 15.05 | 1.91 | 13.3% |
| WBS | Webster Financial Corporation | $12.6B | 12.61 | 1.27 | 10.7% |
| IFS | Intercorp Financial Services Inc. | $5.1B | 8.56 | 1.39 | 16.9% |
Price
| Price | $31.13 (closing price, November 2, 2026) |
| Market Cap | $5.2B |
| Exchange | NYSE |
| Country | US |
Profitability
| Return on Equity | 10.00% |
| Return on Invested Capital | 4.78% |
| Return on Assets | 1.03% |
| Gross Margin | 61.68% |
| Operating Margin | 25.07% |
| Net Margin | 19.87% |
Related companies: FFIN · IBOC · TCBI · BANF · IFS · AVAL
Explore sector: Financial Services · Banks - Regional
More sections of ASB: Overview · Financials · Statistics · Estimates · Technical · Ownership · News · Events
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