Annual Income Statements for Associated Banc
This table shows Associated Banc's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Associated Banc
This table shows Associated Banc's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
93 |
106 |
100 |
84 |
80 |
-94 |
78 |
113 |
85 |
-164 |
99 |
Consolidated Net Income / (Loss) |
|
96 |
109 |
103 |
87 |
83 |
-91 |
81 |
116 |
88 |
-116 |
102 |
Net Income / (Loss) Continuing Operations |
|
96 |
109 |
103 |
87 |
85 |
-93 |
81 |
116 |
91 |
-119 |
104 |
Total Pre-Tax Income |
|
122 |
134 |
131 |
111 |
103 |
-138 |
101 |
103 |
108 |
-178 |
121 |
Total Revenue |
|
335 |
351 |
336 |
323 |
321 |
122 |
323 |
322 |
330 |
64 |
345 |
Net Interest Income / (Expense) |
|
264 |
289 |
274 |
258 |
254 |
253 |
258 |
257 |
263 |
270 |
286 |
Total Interest Income |
|
315 |
391 |
443 |
481 |
509 |
525 |
523 |
530 |
540 |
529 |
526 |
Loans and Leases Interest Income |
|
276 |
349 |
391 |
423 |
448 |
458 |
454 |
457 |
466 |
453 |
433 |
Investment Securities Interest Income |
|
36 |
38 |
46 |
52 |
54 |
57 |
61 |
65 |
66 |
65 |
84 |
Other Interest Income |
|
3.28 |
3.78 |
5.33 |
6.09 |
6.58 |
10 |
7.60 |
8.54 |
8.70 |
10 |
8.92 |
Total Interest Expense |
|
50 |
102 |
169 |
223 |
254 |
272 |
266 |
274 |
278 |
258 |
240 |
Deposits Interest Expense |
|
26 |
61 |
109 |
162 |
193 |
209 |
226 |
221 |
232 |
223 |
209 |
Short-Term Borrowings Interest Expense |
|
0.00 |
-0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
4.71 |
6.08 |
6.14 |
0.67 |
0.00 |
Long-Term Debt Interest Expense |
|
24 |
39 |
56 |
59 |
58 |
59 |
32 |
44 |
37 |
32 |
27 |
Federal Funds Purchased and Securities Sold Interest Expense |
|
0.76 |
2.28 |
3.14 |
2.26 |
3.10 |
3.73 |
2.86 |
2.30 |
3.39 |
3.20 |
3.62 |
Total Non-Interest Income |
|
71 |
62 |
62 |
66 |
67 |
-131 |
65 |
65 |
67 |
-207 |
59 |
Other Service Charges |
|
63 |
61 |
59 |
64 |
64 |
61 |
59 |
44 |
64 |
20 |
61 |
Net Realized & Unrealized Capital Gains on Investments |
|
5.68 |
-2.48 |
0.31 |
-0.29 |
0.61 |
-195 |
3.57 |
-0.56 |
-0.37 |
-278 |
-7.85 |
Other Non-Interest Income |
|
1.83 |
3.43 |
2.66 |
2.17 |
2.05 |
3.38 |
2.57 |
21 |
4.00 |
52 |
5.20 |
Provision for Credit Losses |
|
17 |
20 |
18 |
22 |
22 |
21 |
24 |
23 |
21 |
17 |
13 |
Total Non-Interest Expense |
|
196 |
197 |
187 |
191 |
196 |
239 |
198 |
196 |
201 |
224 |
211 |
Salaries and Employee Benefits |
|
118 |
118 |
116 |
114 |
117 |
121 |
119 |
122 |
121 |
126 |
124 |
Net Occupancy & Equipment Expense |
|
41 |
46 |
44 |
43 |
45 |
47 |
44 |
45 |
45 |
46 |
47 |
Marketing Expense |
|
6.78 |
8.14 |
5.85 |
7.11 |
7.10 |
8.35 |
6.52 |
7.54 |
6.68 |
7.41 |
6.39 |
Property & Liability Insurance Claims |
|
5.80 |
6.35 |
6.88 |
9.55 |
9.15 |
41 |
14 |
7.13 |
8.22 |
9.14 |
10 |
Other Operating Expenses |
|
21 |
9.63 |
12 |
15 |
13 |
16 |
11 |
13 |
14 |
-9.13 |
18 |
Amortization Expense |
|
2.20 |
2.20 |
2.20 |
2.20 |
2.20 |
2.20 |
2.20 |
2.20 |
2.20 |
2.20 |
2.20 |
Income Tax Expense |
|
26 |
25 |
27 |
24 |
19 |
-47 |
20 |
-13 |
20 |
-16 |
19 |
Preferred Stock Dividends Declared |
|
2.88 |
2.88 |
2.88 |
2.88 |
2.88 |
2.88 |
2.88 |
2.88 |
2.88 |
2.88 |
2.88 |
Basic Earnings per Share |
|
$0.62 |
$0.70 |
$0.67 |
$0.56 |
$0.53 |
($0.62) |
$0.52 |
$0.75 |
$0.56 |
($1.10) |
$0.60 |
Weighted Average Basic Shares Outstanding |
|
149.32M |
149.16M |
149.76M |
149.99M |
150.04M |
149.97M |
149.86M |
149.87M |
150.25M |
151.93M |
165.23M |
Diluted Earnings per Share |
|
$0.62 |
$0.69 |
$0.66 |
$0.56 |
$0.53 |
($0.62) |
$0.52 |
$0.74 |
$0.56 |
($1.10) |
$0.59 |
Weighted Average Diluted Shares Outstanding |
|
150.26M |
150.50M |
151.13M |
150.87M |
151.01M |
150.86M |
151.29M |
151.29M |
151.49M |
153.35M |
166.60M |
Weighted Average Basic & Diluted Shares Outstanding |
|
300.72M |
301.08M |
301.78M |
301.84M |
301.88M |
302.18M |
301.53M |
301.80M |
151.26M |
166.25M |
165.81M |
Cash Dividends to Common per Share |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
$0.23 |
Annual Cash Flow Statements for Associated Banc
This table details how cash moves in and out of Associated Banc's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
-558 |
169 |
74 |
161 |
-288 |
445 |
154 |
-975 |
-154 |
140 |
Net Cash From Operating Activities |
|
301 |
641 |
458 |
497 |
574 |
550 |
530 |
847 |
443 |
580 |
Net Cash From Continuing Operating Activities |
|
301 |
641 |
485 |
415 |
629 |
-1,083 |
289 |
276 |
831 |
624 |
Net Income / (Loss) Continuing Operations |
|
188 |
200 |
229 |
334 |
327 |
307 |
351 |
366 |
183 |
123 |
Consolidated Net Income / (Loss) |
|
188 |
200 |
229 |
334 |
327 |
307 |
351 |
366 |
183 |
123 |
Provision For Loan Losses |
|
38 |
70 |
26 |
0.00 |
16 |
174 |
-88 |
33 |
83 |
85 |
Depreciation Expense |
|
50 |
51 |
67 |
68 |
78 |
51 |
81 |
80 |
81 |
84 |
Amortization Expense |
|
55 |
61 |
50 |
29 |
34 |
35 |
24 |
24 |
47 |
54 |
Non-Cash Adjustments to Reconcile Net Income |
|
-22 |
246 |
117 |
-22 |
206 |
-1,650 |
-42 |
134 |
180 |
244 |
Changes in Operating Assets and Liabilities, net |
|
-7.39 |
14 |
-4.29 |
6.55 |
-32 |
- |
-37 |
-360 |
256 |
35 |
Net Cash From Investing Activities |
|
-1,534 |
-1,653 |
-1,397 |
-381 |
1,617 |
-794 |
-1,584 |
-5,255 |
-1,436 |
-2,219 |
Net Cash From Continuing Investing Activities |
|
-1,536 |
-1,653 |
-1,397 |
-500 |
572 |
-619 |
-1,584 |
-5,255 |
-2,281 |
-2,219 |
Purchase of Investment Securities |
|
-4,299 |
-3,300 |
-2,550 |
-2,211 |
-1,820 |
-3,384 |
-3,292 |
-6,090 |
-3,760 |
-4,884 |
Sale and/or Maturity of Investments |
|
2,817 |
1,751 |
1,200 |
1,777 |
2,460 |
2,819 |
1,707 |
835 |
1,479 |
2,665 |
Net Cash From Financing Activities |
|
674 |
1,180 |
1,012 |
45 |
-2,480 |
371 |
1,364 |
4,004 |
1,296 |
1,735 |
Net Cash From Continuing Financing Activities |
|
674 |
1,180 |
1,012 |
45 |
-2,098 |
2,148 |
1,449 |
4,001 |
1,293 |
1,729 |
Net Change in Deposits |
|
2,244 |
881 |
898 |
270 |
-1,843 |
2,497 |
2,047 |
1,170 |
3,810 |
1,202 |
Issuance of Debt |
|
250 |
515 |
750 |
2,138 |
0.00 |
- |
94 |
3,375 |
-2,373 |
935 |
Issuance of Common Equity |
|
20 |
22 |
28 |
18 |
- |
- |
26 |
11 |
4.30 |
369 |
Repayment of Debt |
|
-1,734 |
-172 |
-531 |
-2,115 |
58 |
-239 |
-282 |
-413 |
-0.69 |
-602 |
Repurchase of Common Equity |
|
-5.15 |
-5.07 |
-9.29 |
-214 |
-186 |
-77 |
-138 |
-7.42 |
-6.59 |
-25 |
Payment of Dividends |
|
-70 |
-77 |
-86 |
-116 |
-127 |
-130 |
-133 |
-135 |
-141 |
-151 |
Cash Interest Paid |
|
73 |
88 |
138 |
262 |
333 |
159 |
82 |
175 |
839 |
1,075 |
Cash Income Taxes Paid |
|
84 |
76 |
81 |
18 |
41 |
18 |
58 |
18 |
69 |
18 |
Quarterly Cash Flow Statements for Associated Banc
This table details how cash moves in and out of Associated Banc's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
-365 |
-451 |
201 |
-193 |
83 |
-245 |
-72 |
108 |
7.95 |
97 |
-352 |
Net Cash From Operating Activities |
|
233 |
124 |
47 |
131 |
199 |
65 |
155 |
113 |
105 |
207 |
98 |
Net Cash From Continuing Operating Activities |
|
233 |
-446 |
47 |
131 |
199 |
453 |
155 |
113 |
105 |
251 |
98 |
Net Income / (Loss) Continuing Operations |
|
96 |
109 |
103 |
87 |
83 |
-91 |
81 |
116 |
88 |
-162 |
102 |
Consolidated Net Income / (Loss) |
|
96 |
109 |
103 |
87 |
83 |
-91 |
81 |
116 |
88 |
-162 |
102 |
Provision For Loan Losses |
|
17 |
20 |
18 |
22 |
22 |
21 |
24 |
23 |
21 |
17 |
13 |
Depreciation Expense |
|
20 |
20 |
20 |
20 |
20 |
21 |
21 |
21 |
20 |
21 |
23 |
Amortization Expense |
|
5.17 |
3.90 |
2.54 |
18 |
13 |
13 |
13 |
12 |
13 |
16 |
8.54 |
Non-Cash Adjustments to Reconcile Net Income |
|
-12 |
68 |
-13 |
-8.18 |
-21 |
222 |
-20 |
-31 |
16 |
278 |
22 |
Changes in Operating Assets and Liabilities, net |
|
107 |
-667 |
-84 |
-8.29 |
82 |
266 |
35 |
-27 |
-53 |
81 |
-70 |
Net Cash From Investing Activities |
|
-1,300 |
-1,274 |
-1,076 |
-741 |
-407 |
788 |
-275 |
-380 |
-518 |
-1,046 |
-127 |
Net Cash From Continuing Investing Activities |
|
-1,300 |
-1,274 |
-1,076 |
-741 |
-407 |
-56 |
-275 |
-380 |
-518 |
-1,046 |
-691 |
Purchase of Investment Securities |
|
-1,434 |
-1,576 |
-1,201 |
-955 |
-566 |
-1,038 |
-583 |
-594 |
-936 |
-2,771 |
-992 |
Sale and/or Maturity of Investments |
|
146 |
257 |
139 |
230 |
173 |
938 |
316 |
226 |
429 |
1,694 |
301 |
Net Cash From Financing Activities |
|
702 |
1,269 |
1,230 |
417 |
291 |
-642 |
49 |
374 |
421 |
891 |
242 |
Net Cash From Continuing Financing Activities |
|
702 |
1,265 |
1,230 |
417 |
291 |
-644 |
49 |
374 |
422 |
885 |
242 |
Net Change in Deposits |
|
622 |
438 |
696 |
1,683 |
109 |
1,323 |
267 |
-1,022 |
863 |
1,094 |
548 |
Issuance of Debt |
|
0.44 |
3,374 |
293 |
- |
1.25 |
-2,667 |
0.62 |
2.04 |
299 |
634 |
11 |
Issuance of Common Equity |
|
1.27 |
3.00 |
1.77 |
0.09 |
0.50 |
1.94 |
3.91 |
0.53 |
8.85 |
355 |
2.19 |
Repayment of Debt |
|
112 |
-2,513 |
280 |
-1,230 |
215 |
734 |
-164 |
1,431 |
-712 |
-1,157 |
-250 |
Repurchase of Common Equity |
|
-0.18 |
-1.16 |
-5.36 |
-0.88 |
-0.26 |
-0.09 |
-23 |
-1.09 |
-0.35 |
-0.23 |
-28 |
Payment of Dividends |
|
-33 |
-35 |
-35 |
-35 |
-35 |
-36 |
-36 |
-36 |
-36 |
-41 |
-41 |
Other Financing Activities, Net |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
-0.05 |
Cash Interest Paid |
|
50 |
91 |
154 |
193 |
229 |
263 |
250 |
275 |
272 |
279 |
242 |
Cash Income Taxes Paid |
|
3.66 |
12 |
1.09 |
58 |
9.40 |
1.04 |
2.00 |
1.42 |
3.55 |
11 |
-16 |
Annual Balance Sheets for Associated Banc
This table presents Associated Banc's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
27,712 |
29,139 |
30,484 |
33,615 |
32,386 |
33,420 |
35,104 |
39,406 |
41,016 |
43,023 |
Cash and Due from Banks |
|
375 |
447 |
484 |
507 |
373 |
416 |
344 |
437 |
484 |
544 |
Federal Funds Sold |
|
19 |
47 |
33 |
148 |
7.74 |
1.14 |
0.00 |
28 |
14 |
22 |
Interest Bearing Deposits at Other Banks |
|
80 |
149 |
200 |
221 |
208 |
299 |
682 |
157 |
425 |
454 |
Trading Account Securities |
|
6,293 |
6,006 |
6,396 |
6,689 |
5,483 |
3,101 |
- |
2,767 |
3,643 |
4,605 |
Loans and Leases, Net of Allowance |
|
18,440 |
19,776 |
20,519 |
22,702 |
22,620 |
24,068 |
23,945 |
28,487 |
28,865 |
29,405 |
Loans and Leases |
|
18,714 |
20,055 |
20,785 |
22,940 |
22,821 |
24,452 |
24,225 |
28,800 |
29,216 |
29,769 |
Allowance for Loan and Lease Losses |
|
274 |
278 |
266 |
238 |
201 |
384 |
280 |
313 |
351 |
364 |
Loans Held for Sale |
|
- |
120 |
86 |
79 |
151 |
129 |
- |
20 |
123 |
30,084 |
Premises and Equipment, Net |
|
268 |
330 |
331 |
363 |
435 |
419 |
385 |
377 |
373 |
379 |
Goodwill |
|
969 |
972 |
976 |
1,169 |
1,176 |
1,109 |
1,105 |
1,105 |
1,105 |
1,105 |
Intangible Assets |
|
16 |
15 |
16 |
76 |
88 |
68 |
58 |
49 |
40 |
32 |
Other Assets |
|
1,252 |
1,276 |
1,444 |
1,660 |
1,844 |
3,810 |
3,195 |
5,979 |
5,943 |
5,799 |
Total Liabilities & Shareholders' Equity |
|
27,712 |
29,139 |
30,484 |
33,615 |
32,386 |
33,420 |
35,104 |
39,406 |
41,016 |
43,023 |
Total Liabilities |
|
24,775 |
26,048 |
27,246 |
29,834 |
28,464 |
29,329 |
20,311 |
35,390 |
36,842 |
38,418 |
Non-Interest Bearing Deposits |
|
5,562 |
5,392 |
5,478 |
5,699 |
5,451 |
7,662 |
- |
7,761 |
6,120 |
5,776 |
Interest Bearing Deposits |
|
15,445 |
16,496 |
17,308 |
19,199 |
18,328 |
18,821 |
19,962 |
21,875 |
27,326 |
28,873 |
Federal Funds Purchased and Securities Sold |
|
431 |
508 |
325 |
112 |
433 |
193 |
- |
585 |
327 |
470 |
Short-Term Debt |
|
403 |
584 |
67 |
45 |
32 |
59 |
- |
21 |
0.00 |
0.00 |
Long-Term Debt |
|
2,676 |
2,762 |
3,681 |
4,370 |
3,730 |
2,182 |
- |
4,568 |
2,481 |
2,691 |
Other Long-Term Liabilities |
|
256 |
306 |
386 |
410 |
490 |
412 |
349 |
580 |
588 |
607 |
Total Equity & Noncontrolling Interests |
|
2,937 |
3,091 |
3,237 |
3,781 |
3,922 |
4,091 |
3,832 |
4,015 |
4,174 |
4,411 |
Total Preferred & Common Equity |
|
2,937 |
3,091 |
3,237 |
3,781 |
3,922 |
4,091 |
4,025 |
4,015 |
4,174 |
4,606 |
Total Common Equity |
|
2,816 |
2,931 |
3,078 |
3,524 |
3,665 |
3,737 |
3,832 |
3,821 |
3,980 |
4,411 |
Common Stock |
|
1,460 |
1,461 |
1,340 |
1,714 |
1,718 |
1,722 |
1,716 |
1,714 |
1,717 |
0.00 |
Retained Earnings |
|
1,593 |
1,696 |
1,935 |
2,181 |
2,381 |
2,459 |
2,673 |
2,905 |
2,947 |
0.00 |
Treasury Stock |
|
-205 |
-171 |
-135 |
-247 |
-400 |
-456 |
-546 |
-525 |
-512 |
0.00 |
Accumulated Other Comprehensive Income / (Loss) |
|
-33 |
-55 |
-63 |
-125 |
-33 |
13 |
-10 |
-273 |
-171 |
0.00 |
Other Equity Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
4,411 |
Quarterly Balance Sheets for Associated Banc
This table presents Associated Banc's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Total Assets |
|
38,050 |
40,703 |
41,219 |
41,637 |
41,137 |
41,624 |
42,211 |
43,309 |
Cash and Due from Banks |
|
386 |
311 |
408 |
389 |
430 |
471 |
555 |
521 |
Federal Funds Sold |
|
4.02 |
- |
31 |
0.97 |
1.61 |
3.60 |
4.31 |
0.11 |
Interest Bearing Deposits at Other Banks |
|
112 |
511 |
191 |
323 |
420 |
485 |
408 |
711 |
Trading Account Securities |
|
6,464 |
3,412 |
7,475 |
7,428 |
7,577 |
7,735 |
4,176 |
4,820 |
Loans and Leases, Net of Allowance |
|
27,524 |
28,881 |
29,525 |
29,847 |
29,138 |
29,262 |
29,629 |
29,923 |
Loans and Leases |
|
27,817 |
29,207 |
29,864 |
30,193 |
29,494 |
29,618 |
29,991 |
30,294 |
Allowance for Loan and Lease Losses |
|
293 |
326 |
339 |
346 |
356 |
356 |
362 |
371 |
Loans Held for Sale |
|
51 |
- |
38 |
55 |
52 |
84 |
79 |
56 |
Premises and Equipment, Net |
|
379 |
376 |
375 |
373 |
368 |
370 |
374 |
378 |
Goodwill |
|
1,105 |
1,105 |
1,105 |
1,105 |
1,105 |
1,105 |
1,105 |
1,105 |
Intangible Assets |
|
51 |
47 |
45 |
43 |
38 |
36 |
34 |
29 |
Other Assets |
|
1,972 |
1,014 |
2,027 |
2,074 |
2,007 |
2,073 |
5,847 |
5,767 |
Total Liabilities & Shareholders' Equity |
|
38,050 |
40,703 |
41,219 |
41,637 |
41,137 |
41,624 |
42,211 |
43,309 |
Total Liabilities |
|
34,096 |
53,783 |
37,097 |
37,510 |
36,968 |
37,382 |
37,798 |
38,623 |
Non-Interest Bearing Deposits |
|
8,225 |
30,332 |
6,566 |
6,423 |
6,254 |
5,815 |
5,857 |
6,136 |
Interest Bearing Deposits |
|
20,974 |
23,003 |
25,449 |
25,700 |
27,459 |
26,876 |
27,697 |
29,061 |
Short-Term Debt |
|
7.69 |
- |
15 |
0.00 |
766 |
860 |
917 |
311 |
Long-Term Debt |
|
4,027 |
- |
4,165 |
4,263 |
1,869 |
3,209 |
2,758 |
2,619 |
Other Long-Term Liabilities |
|
586 |
448 |
576 |
672 |
620 |
622 |
569 |
496 |
Total Equity & Noncontrolling Interests |
|
3,954 |
3,932 |
4,123 |
4,128 |
4,169 |
4,242 |
4,413 |
4,687 |
Total Preferred & Common Equity |
|
3,954 |
4,126 |
4,123 |
4,128 |
4,169 |
4,242 |
4,413 |
4,687 |
Preferred Stock |
|
194 |
- |
194 |
194 |
194 |
194 |
194 |
194 |
Total Common Equity |
|
3,760 |
3,932 |
3,929 |
3,934 |
3,975 |
4,048 |
4,219 |
4,492 |
Common Stock |
|
1,712 |
1,708 |
1,710 |
1,713 |
1,710 |
1,713 |
1,716 |
2,042 |
Retained Earnings |
|
2,831 |
2,973 |
3,026 |
3,074 |
2,992 |
3,071 |
3,122 |
2,980 |
Treasury Stock |
|
-527 |
-516 |
-515 |
-515 |
-518 |
-516 |
-507 |
-494 |
Accumulated Other Comprehensive Income / (Loss) |
|
-255 |
-234 |
-292 |
-339 |
-210 |
-219 |
-112 |
-35 |
Annual Metrics And Ratios for Associated Banc
This table displays calculated financial ratios and metrics derived from Associated Banc's official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
3.48% |
5.42% |
5.65% |
15.01% |
-1.70% |
21.99% |
-27.81% |
11.16% |
-11.05% |
-5.89% |
EBITDA Growth |
|
1.43% |
6.62% |
25.52% |
12.41% |
0.82% |
19.81% |
-12.16% |
-5.79% |
-40.59% |
-18.77% |
EBIT Growth |
|
-2.27% |
6.60% |
33.84% |
21.17% |
-2.15% |
30.34% |
-17.07% |
-6.82% |
-55.17% |
-34.75% |
NOPAT Growth |
|
-1.16% |
6.36% |
14.48% |
45.49% |
-2.03% |
-6.13% |
14.42% |
4.31% |
-50.03% |
-32.69% |
Net Income Growth |
|
-1.16% |
6.36% |
14.48% |
45.49% |
-2.03% |
-6.13% |
14.42% |
4.31% |
-50.03% |
-7.86% |
EPS Growth |
|
2.59% |
5.88% |
12.70% |
33.10% |
1.06% |
-2.62% |
17.20% |
7.34% |
-51.71% |
-36.28% |
Operating Cash Flow Growth |
|
50.97% |
112.94% |
-28.53% |
8.33% |
15.65% |
-4.22% |
-3.72% |
59.86% |
-47.70% |
31.06% |
Free Cash Flow Firm Growth |
|
279.27% |
-114.91% |
-45.50% |
-173.61% |
195.69% |
97.79% |
-588.91% |
180.83% |
-67.48% |
-124.32% |
Invested Capital Growth |
|
-17.64% |
6.99% |
8.54% |
17.32% |
-6.24% |
-17.59% |
133.61% |
-41.84% |
-22.65% |
9.64% |
Revenue Q/Q Growth |
|
0.97% |
1.71% |
4.22% |
0.41% |
-1.19% |
14.47% |
-16.27% |
5.48% |
-20.47% |
-9.89% |
EBITDA Q/Q Growth |
|
-0.78% |
5.24% |
13.46% |
-0.65% |
-6.51% |
33.86% |
-21.19% |
4.38% |
-48.70% |
-25.24% |
EBIT Q/Q Growth |
|
-3.24% |
7.45% |
17.59% |
-1.52% |
-5.14% |
54.21% |
-29.17% |
5.51% |
-61.39% |
-41.34% |
NOPAT Q/Q Growth |
|
-3.06% |
6.40% |
-2.06% |
13.23% |
-4.91% |
-1.64% |
2.89% |
9.54% |
-52.17% |
-36.51% |
Net Income Q/Q Growth |
|
-3.06% |
6.40% |
-2.06% |
13.23% |
-4.91% |
-1.64% |
2.90% |
9.54% |
-52.17% |
-13.09% |
EPS Q/Q Growth |
|
-2.46% |
5.88% |
-2.74% |
12.50% |
-4.02% |
-2.11% |
4.31% |
9.86% |
-53.69% |
-40.00% |
Operating Cash Flow Q/Q Growth |
|
2.87% |
30.00% |
-15.35% |
11.63% |
-13.49% |
4.30% |
7.83% |
-4.64% |
-11.87% |
32.55% |
Free Cash Flow Firm Q/Q Growth |
|
108.91% |
31.43% |
-32.09% |
-19.24% |
22.18% |
4.63% |
-857.56% |
5,853.80% |
11,307.88% |
-204.48% |
Invested Capital Q/Q Growth |
|
1.06% |
-0.40% |
0.68% |
2.86% |
0.77% |
-0.31% |
96.19% |
7.71% |
-20.68% |
-9.78% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
37.25% |
37.67% |
44.75% |
43.74% |
44.86% |
44.06% |
53.60% |
45.43% |
30.34% |
26.19% |
EBIT Margin |
|
26.83% |
27.13% |
34.37% |
36.20% |
36.04% |
38.50% |
44.23% |
37.08% |
18.69% |
12.96% |
Profit (Net Income) Margin |
|
18.72% |
18.89% |
20.47% |
25.89% |
25.81% |
19.86% |
31.47% |
29.53% |
16.59% |
16.24% |
Tax Burden Percent |
|
69.80% |
69.64% |
67.68% |
80.70% |
80.39% |
93.82% |
80.45% |
79.66% |
88.79% |
125.37% |
Interest Burden Percent |
|
100.00% |
100.00% |
88.01% |
88.63% |
89.08% |
54.97% |
88.45% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
30.20% |
30.36% |
32.32% |
19.30% |
19.61% |
6.18% |
19.55% |
20.34% |
11.21% |
8.41% |
Return on Invested Capital (ROIC) |
|
2.83% |
3.22% |
3.42% |
4.39% |
4.12% |
4.38% |
3.32% |
3.13% |
2.40% |
1.77% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
2.83% |
3.22% |
3.42% |
4.39% |
4.12% |
4.38% |
3.32% |
3.13% |
2.40% |
3.46% |
Return on Net Nonoperating Assets (RNNOA) |
|
3.74% |
3.43% |
3.83% |
5.11% |
4.37% |
3.28% |
5.54% |
6.20% |
2.07% |
2.16% |
Return on Equity (ROE) |
|
6.56% |
6.64% |
7.25% |
9.51% |
8.48% |
7.66% |
8.86% |
9.33% |
4.47% |
3.93% |
Cash Return on Invested Capital (CROIC) |
|
22.17% |
-3.54% |
-4.77% |
-11.54% |
10.56% |
23.67% |
-76.78% |
56.03% |
27.94% |
-7.43% |
Operating Return on Assets (OROA) |
|
0.99% |
1.01% |
1.29% |
1.46% |
1.38% |
1.81% |
1.44% |
1.23% |
0.51% |
0.32% |
Return on Assets (ROA) |
|
0.69% |
0.70% |
0.77% |
1.04% |
0.99% |
0.93% |
1.02% |
0.98% |
0.46% |
0.40% |
Return on Common Equity (ROCE) |
|
6.36% |
6.33% |
6.88% |
8.94% |
7.92% |
7.07% |
8.47% |
9.10% |
4.26% |
3.84% |
Return on Equity Simple (ROE_SIMPLE) |
|
6.41% |
6.48% |
7.08% |
8.82% |
8.33% |
7.50% |
8.72% |
9.12% |
4.38% |
3.66% |
Net Operating Profit after Tax (NOPAT) |
|
188 |
200 |
229 |
334 |
327 |
307 |
351 |
366 |
183 |
123 |
NOPAT Margin |
|
18.72% |
18.89% |
20.47% |
25.89% |
25.81% |
19.86% |
31.47% |
29.53% |
16.59% |
11.87% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
-1.69% |
SG&A Expenses to Revenue |
|
57.20% |
55.26% |
53.21% |
51.91% |
54.10% |
39.98% |
55.07% |
52.41% |
61.27% |
67.13% |
Operating Expenses to Revenue |
|
69.44% |
66.27% |
63.31% |
63.80% |
62.70% |
50.23% |
63.66% |
60.26% |
73.79% |
78.86% |
Earnings before Interest and Taxes (EBIT) |
|
270 |
288 |
385 |
466 |
456 |
595 |
493 |
460 |
206 |
134 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
375 |
399 |
501 |
563 |
568 |
681 |
598 |
563 |
335 |
272 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.75 |
0.97 |
0.98 |
0.75 |
0.79 |
0.61 |
0.80 |
0.83 |
0.78 |
0.82 |
Price to Tangible Book Value (P/TBV) |
|
1.15 |
1.47 |
1.44 |
1.16 |
1.21 |
0.89 |
1.14 |
1.19 |
1.10 |
1.10 |
Price to Revenue (P/Rev) |
|
2.10 |
2.69 |
2.69 |
2.04 |
2.30 |
1.47 |
2.74 |
2.57 |
2.81 |
3.48 |
Price to Earnings (P/E) |
|
11.67 |
14.91 |
13.68 |
8.16 |
9.35 |
7.89 |
9.14 |
8.98 |
18.10 |
32.38 |
Dividend Yield |
|
2.92% |
2.37% |
2.51% |
3.90% |
3.77% |
4.86% |
3.74% |
3.83% |
4.13% |
3.72% |
Earnings Yield |
|
8.57% |
6.71% |
7.31% |
12.25% |
10.69% |
12.67% |
10.94% |
11.14% |
5.52% |
3.09% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.80 |
0.89 |
0.89 |
0.78 |
0.83 |
0.66 |
0.14 |
0.85 |
0.73 |
0.72 |
Enterprise Value to Revenue (EV/Rev) |
|
4.81 |
5.39 |
5.54 |
4.99 |
5.01 |
2.69 |
1.82 |
5.92 |
4.40 |
5.09 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
12.92 |
14.31 |
12.37 |
11.41 |
11.17 |
6.11 |
3.39 |
13.04 |
14.51 |
19.45 |
Enterprise Value to EBIT (EV/EBIT) |
|
17.94 |
19.88 |
16.11 |
13.79 |
13.90 |
6.99 |
4.11 |
15.98 |
23.57 |
39.32 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
25.71 |
28.54 |
27.05 |
19.27 |
19.41 |
13.55 |
5.78 |
20.06 |
26.54 |
42.93 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
16.07 |
8.91 |
13.53 |
12.95 |
11.05 |
7.56 |
3.83 |
8.68 |
10.97 |
9.11 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
3.28 |
0.00 |
0.00 |
0.00 |
7.56 |
2.51 |
0.00 |
1.12 |
2.28 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.05 |
1.08 |
1.16 |
1.17 |
0.96 |
0.55 |
0.00 |
1.14 |
0.59 |
0.61 |
Long-Term Debt to Equity |
|
0.91 |
0.89 |
1.14 |
1.16 |
0.95 |
0.53 |
0.00 |
1.14 |
0.59 |
0.61 |
Financial Leverage |
|
1.32 |
1.07 |
1.12 |
1.16 |
1.06 |
0.75 |
1.67 |
1.98 |
0.86 |
0.63 |
Leverage Ratio |
|
9.50 |
9.43 |
9.42 |
9.13 |
8.57 |
8.21 |
8.65 |
9.50 |
9.82 |
9.79 |
Compound Leverage Factor |
|
9.50 |
9.43 |
8.29 |
8.09 |
7.63 |
4.51 |
7.65 |
9.50 |
9.82 |
9.79 |
Debt to Total Capital |
|
51.18% |
51.97% |
53.66% |
53.87% |
48.96% |
35.40% |
0.00% |
53.33% |
37.28% |
37.89% |
Short-Term Debt to Total Capital |
|
6.70% |
9.07% |
0.97% |
0.55% |
0.42% |
0.94% |
0.00% |
0.24% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
44.48% |
42.91% |
52.69% |
53.32% |
48.54% |
34.46% |
0.00% |
53.09% |
37.28% |
37.89% |
Preferred Equity to Total Capital |
|
2.02% |
2.48% |
2.29% |
3.13% |
3.34% |
5.58% |
0.00% |
2.26% |
2.92% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
46.80% |
45.54% |
44.05% |
43.00% |
47.70% |
59.02% |
100.00% |
44.41% |
59.80% |
62.11% |
Debt to EBITDA |
|
8.22 |
8.38 |
7.48 |
7.84 |
6.62 |
3.29 |
0.00 |
8.15 |
7.42 |
9.90 |
Net Debt to EBITDA |
|
6.96 |
6.77 |
6.05 |
6.28 |
5.59 |
2.24 |
0.00 |
7.04 |
4.66 |
6.15 |
Long-Term Debt to EBITDA |
|
7.14 |
6.92 |
7.34 |
7.76 |
6.57 |
3.21 |
0.00 |
8.11 |
7.42 |
9.90 |
Debt to NOPAT |
|
16.35 |
16.70 |
16.35 |
13.24 |
11.51 |
7.31 |
0.00 |
12.53 |
13.56 |
21.86 |
Net Debt to NOPAT |
|
13.84 |
13.50 |
13.23 |
10.61 |
9.71 |
4.97 |
0.00 |
10.84 |
8.51 |
13.58 |
Long-Term Debt to NOPAT |
|
14.21 |
13.79 |
16.06 |
13.10 |
11.42 |
7.11 |
0.00 |
12.48 |
13.56 |
21.86 |
Noncontrolling Interest Sharing Ratio |
|
3.16% |
4.67% |
5.05% |
5.94% |
6.67% |
7.62% |
4.46% |
2.47% |
4.74% |
2.26% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
1,477 |
-220 |
-320 |
-876 |
839 |
1,659 |
-8,110 |
6,555 |
2,132 |
-518 |
Operating Cash Flow to CapEx |
|
551.30% |
617.42% |
967.65% |
754.04% |
851.27% |
1,005.85% |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
19.08 |
-2.61 |
-2.20 |
-3.19 |
2.49 |
11.07 |
-112.12 |
34.88 |
2.32 |
-0.48 |
Operating Cash Flow to Interest Expense |
|
3.89 |
7.61 |
3.15 |
1.81 |
1.70 |
3.67 |
7.32 |
4.50 |
0.48 |
0.54 |
Operating Cash Flow Less CapEx to Interest Expense |
|
3.19 |
6.38 |
2.83 |
1.57 |
1.50 |
3.30 |
7.32 |
4.50 |
0.48 |
0.54 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.04 |
0.04 |
0.04 |
0.04 |
0.04 |
0.05 |
0.03 |
0.03 |
0.03 |
0.02 |
Fixed Asset Turnover |
|
3.71 |
3.55 |
3.39 |
3.71 |
3.17 |
3.62 |
2.77 |
3.25 |
2.94 |
2.76 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
6,016 |
6,437 |
6,986 |
8,196 |
7,684 |
6,332 |
14,793 |
8,604 |
6,655 |
7,297 |
Invested Capital Turnover |
|
0.15 |
0.17 |
0.17 |
0.17 |
0.16 |
0.22 |
0.11 |
0.11 |
0.14 |
0.15 |
Increase / (Decrease) in Invested Capital |
|
-1,288 |
420 |
550 |
1,210 |
-512 |
-1,352 |
8,461 |
-6,189 |
-1,949 |
642 |
Enterprise Value (EV) |
|
4,840 |
5,716 |
6,201 |
6,429 |
6,344 |
4,156 |
2,028 |
7,345 |
4,856 |
5,287 |
Market Capitalization |
|
2,113 |
2,853 |
3,008 |
2,634 |
2,914 |
2,277 |
3,053 |
3,183 |
3,104 |
3,615 |
Book Value per Share |
|
$18.73 |
$19.48 |
$20.36 |
$21.26 |
$23.00 |
$24.33 |
$25.53 |
$25.42 |
$26.37 |
$29.17 |
Tangible Book Value per Share |
|
$12.18 |
$12.92 |
$13.80 |
$13.75 |
$15.07 |
$16.67 |
$17.78 |
$17.74 |
$18.78 |
$21.65 |
Total Capital |
|
6,016 |
6,437 |
6,986 |
8,196 |
7,684 |
6,332 |
3,832 |
8,604 |
6,655 |
7,103 |
Total Debt |
|
3,079 |
3,345 |
3,749 |
4,415 |
3,762 |
2,242 |
0.00 |
4,589 |
2,481 |
2,691 |
Total Long-Term Debt |
|
2,676 |
2,762 |
3,681 |
4,370 |
3,730 |
2,182 |
0.00 |
4,568 |
2,481 |
2,691 |
Net Debt |
|
2,605 |
2,703 |
3,033 |
3,539 |
3,174 |
1,525 |
-1,026 |
3,967 |
1,558 |
1,672 |
Capital Expenditures (CapEx) |
|
55 |
104 |
47 |
66 |
67 |
55 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
-0.00 |
0.00 |
0.00 |
0.00 |
-0.00 |
-45 |
Net Nonoperating Obligations (NNO) |
|
3,079 |
3,345 |
3,749 |
4,415 |
3,762 |
2,242 |
10,962 |
4,589 |
2,481 |
2,886 |
Total Depreciation and Amortization (D&A) |
|
105 |
112 |
116 |
97 |
112 |
86 |
105 |
104 |
129 |
137 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$1.20 |
$1.27 |
$1.45 |
$1.92 |
$1.93 |
$1.87 |
$2.20 |
$2.36 |
$1.14 |
$0.73 |
Adjusted Weighted Average Basic Shares Outstanding |
|
149.35M |
148.77M |
150.88M |
167.35M |
160.53M |
153.01M |
150.77M |
149.16M |
149.97M |
151.93M |
Adjusted Diluted Earnings per Share |
|
$1.19 |
$1.26 |
$1.42 |
$1.89 |
$1.91 |
$1.86 |
$2.18 |
$2.34 |
$1.13 |
$0.72 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
150.60M |
149.96M |
153.65M |
169.73M |
161.93M |
153.64M |
151.99M |
150.50M |
150.86M |
153.35M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
149.71M |
151.81M |
151.69M |
164.34M |
312.91M |
305.66M |
299.21M |
301.08M |
302.18M |
166.25M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
188 |
200 |
229 |
357 |
327 |
307 |
351 |
366 |
183 |
123 |
Normalized NOPAT Margin |
|
18.72% |
18.89% |
20.47% |
27.71% |
25.81% |
19.86% |
31.47% |
29.53% |
16.59% |
11.87% |
Pre Tax Income Margin |
|
26.83% |
27.13% |
30.25% |
32.09% |
32.10% |
21.17% |
39.12% |
37.08% |
18.69% |
12.96% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
3.49 |
3.41 |
2.65 |
1.70 |
1.35 |
3.97 |
6.82 |
2.45 |
0.22 |
0.13 |
NOPAT to Interest Expense |
|
2.43 |
2.38 |
1.58 |
1.21 |
0.97 |
2.05 |
4.85 |
1.95 |
0.20 |
0.11 |
EBIT Less CapEx to Interest Expense |
|
2.78 |
2.18 |
2.32 |
1.46 |
1.15 |
3.60 |
6.82 |
2.45 |
0.22 |
0.13 |
NOPAT Less CapEx to Interest Expense |
|
1.73 |
1.14 |
1.25 |
0.98 |
0.77 |
1.68 |
4.85 |
1.95 |
0.20 |
0.11 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
36.94% |
38.33% |
37.41% |
34.87% |
38.86% |
42.50% |
37.94% |
36.77% |
77.09% |
89.40% |
Augmented Payout Ratio |
|
39.68% |
40.86% |
41.46% |
98.90% |
95.81% |
67.72% |
77.20% |
38.80% |
80.69% |
103.94% |
Quarterly Metrics And Ratios for Associated Banc
This table displays calculated financial ratios and metrics derived from Associated Banc's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
19.82% |
22.48% |
28.17% |
10.92% |
-4.30% |
-65.10% |
-3.94% |
-0.53% |
2.78% |
-48.10% |
8.07% |
EBITDA Growth |
|
-1.73% |
17.60% |
26.99% |
8.94% |
-7.66% |
-165.77% |
-11.64% |
-8.99% |
3.82% |
-35.32% |
15.80% |
EBIT Growth |
|
-2.75% |
21.82% |
40.67% |
0.45% |
-16.14% |
-202.92% |
-22.58% |
-7.05% |
5.32% |
-28.80% |
24.45% |
NOPAT Growth |
|
8.41% |
41.48% |
39.18% |
0.38% |
-13.53% |
-188.82% |
-21.47% |
32.61% |
5.73% |
-28.80% |
25.28% |
Net Income Growth |
|
8.41% |
41.47% |
39.18% |
0.38% |
-13.53% |
-183.49% |
-21.47% |
32.61% |
5.73% |
-27.95% |
25.28% |
EPS Growth |
|
10.71% |
43.75% |
40.43% |
0.00% |
-14.52% |
-189.86% |
-21.21% |
32.14% |
5.66% |
-77.42% |
13.46% |
Operating Cash Flow Growth |
|
74.18% |
-24.89% |
-80.71% |
-45.95% |
-14.55% |
-47.98% |
225.47% |
-13.56% |
-47.26% |
220.48% |
-36.46% |
Free Cash Flow Firm Growth |
|
67.99% |
175.12% |
634.51% |
32.05% |
9.55% |
-70.59% |
-205.90% |
114.84% |
222.61% |
-141.36% |
96.41% |
Invested Capital Growth |
|
5.94% |
-41.84% |
-337.11% |
10.86% |
5.03% |
-22.65% |
152.01% |
0.09% |
-3.60% |
9.64% |
11.95% |
Revenue Q/Q Growth |
|
14.96% |
4.60% |
-17.25% |
-3.76% |
-0.82% |
-61.85% |
81.98% |
-0.34% |
2.48% |
-80.74% |
442.72% |
EBITDA Q/Q Growth |
|
7.66% |
7.23% |
-28.27% |
-2.64% |
-8.74% |
-176.38% |
376.46% |
0.28% |
4.10% |
-199.56% |
208.23% |
EBIT Q/Q Growth |
|
11.12% |
9.52% |
-31.07% |
-15.31% |
-7.24% |
-234.41% |
221.91% |
1.68% |
5.11% |
-264.37% |
168.13% |
NOPAT Q/Q Growth |
|
10.89% |
12.97% |
-4.97% |
-15.68% |
-4.48% |
-216.05% |
184.02% |
42.39% |
-23.84% |
-241.36% |
181.72% |
Net Income Q/Q Growth |
|
10.89% |
12.97% |
-4.97% |
-15.68% |
-4.48% |
-209.08% |
189.39% |
42.39% |
-23.84% |
-232.00% |
187.52% |
EPS Q/Q Growth |
|
10.71% |
11.29% |
-4.35% |
-15.15% |
-5.36% |
-216.98% |
183.87% |
42.31% |
-24.32% |
-296.43% |
153.64% |
Operating Cash Flow Q/Q Growth |
|
-3.96% |
-46.75% |
-61.79% |
176.60% |
51.82% |
-67.58% |
139.05% |
-26.54% |
-7.38% |
97.03% |
-52.61% |
Free Cash Flow Firm Q/Q Growth |
|
67.07% |
1,889.72% |
196.94% |
-103.88% |
56.16% |
681.91% |
-1,398.25% |
100.54% |
262.16% |
-296.28% |
7.17% |
Invested Capital Q/Q Growth |
|
6.66% |
7.71% |
-252.03% |
163.48% |
1.05% |
-20.68% |
-2.56% |
22.15% |
-2.68% |
-9.78% |
4.38% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
43.99% |
45.09% |
45.60% |
46.13% |
42.44% |
-84.97% |
41.94% |
42.20% |
42.87% |
-221.56% |
44.18% |
EBIT Margin |
|
36.52% |
38.24% |
38.89% |
34.22% |
32.00% |
-112.76% |
31.34% |
31.98% |
32.80% |
-279.85% |
35.13% |
Profit (Net Income) Margin |
|
28.72% |
31.02% |
30.75% |
26.94% |
25.95% |
-74.19% |
25.14% |
35.92% |
26.69% |
-182.93% |
29.50% |
Tax Burden Percent |
|
78.63% |
81.11% |
79.08% |
78.74% |
81.08% |
65.80% |
80.22% |
112.33% |
81.39% |
65.37% |
83.97% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
21.37% |
18.89% |
20.92% |
21.26% |
18.92% |
0.00% |
19.78% |
-12.33% |
18.61% |
0.00% |
16.03% |
Return on Invested Capital (ROIC) |
|
4.35% |
3.29% |
0.00% |
4.78% |
4.39% |
-11.41% |
0.00% |
4.94% |
3.73% |
-29.14% |
4.35% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
4.35% |
3.29% |
0.00% |
4.78% |
4.39% |
-11.24% |
0.00% |
4.94% |
3.73% |
-28.84% |
4.35% |
Return on Net Nonoperating Assets (RNNOA) |
|
4.15% |
6.51% |
0.00% |
4.56% |
4.51% |
-9.71% |
0.00% |
4.87% |
3.47% |
-18.03% |
2.73% |
Return on Equity (ROE) |
|
8.49% |
9.80% |
10.03% |
9.34% |
8.90% |
-21.12% |
3.97% |
9.81% |
7.20% |
-47.17% |
7.09% |
Cash Return on Invested Capital (CROIC) |
|
-1.47% |
56.03% |
0.00% |
-5.29% |
-0.23% |
27.94% |
-289.89% |
2.18% |
6.02% |
-7.43% |
-9.28% |
Operating Return on Assets (OROA) |
|
1.18% |
1.27% |
1.41% |
1.22% |
1.11% |
-3.09% |
0.88% |
0.88% |
0.90% |
-6.91% |
0.88% |
Return on Assets (ROA) |
|
0.93% |
1.03% |
1.11% |
0.96% |
0.90% |
-2.03% |
0.70% |
0.99% |
0.73% |
-4.52% |
0.74% |
Return on Common Equity (ROCE) |
|
8.08% |
9.56% |
9.79% |
8.89% |
8.48% |
-20.12% |
3.87% |
9.36% |
6.87% |
-46.10% |
6.78% |
Return on Equity Simple (ROE_SIMPLE) |
|
8.45% |
0.00% |
9.58% |
9.59% |
9.27% |
0.00% |
3.86% |
4.46% |
4.39% |
0.00% |
4.03% |
Net Operating Profit after Tax (NOPAT) |
|
96 |
109 |
103 |
87 |
83 |
-97 |
81 |
116 |
88 |
-124 |
102 |
NOPAT Margin |
|
28.72% |
31.02% |
30.75% |
26.94% |
25.95% |
-78.93% |
25.14% |
35.92% |
26.69% |
-195.90% |
29.50% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
-0.16% |
0.00% |
0.00% |
0.00% |
-0.31% |
0.00% |
SG&A Expenses to Revenue |
|
49.62% |
49.18% |
49.35% |
50.69% |
52.86% |
144.00% |
52.76% |
54.03% |
52.51% |
282.43% |
51.44% |
Operating Expenses to Revenue |
|
58.41% |
56.06% |
55.76% |
58.95% |
61.16% |
195.60% |
61.22% |
60.87% |
60.84% |
353.11% |
61.10% |
Earnings before Interest and Taxes (EBIT) |
|
122 |
134 |
131 |
111 |
103 |
-138 |
101 |
103 |
108 |
-178 |
121 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
147 |
158 |
153 |
149 |
136 |
-104 |
135 |
136 |
141 |
-141 |
152 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.74 |
0.83 |
0.65 |
0.60 |
0.63 |
0.78 |
0.81 |
0.79 |
0.77 |
0.82 |
0.83 |
Price to Tangible Book Value (P/TBV) |
|
1.07 |
1.19 |
0.92 |
0.84 |
0.89 |
1.10 |
1.13 |
1.10 |
1.06 |
1.10 |
1.12 |
Price to Revenue (P/Rev) |
|
2.38 |
2.57 |
1.86 |
1.67 |
1.78 |
2.81 |
2.81 |
2.79 |
2.82 |
3.48 |
3.52 |
Price to Earnings (P/E) |
|
8.66 |
8.98 |
6.65 |
6.09 |
6.67 |
18.10 |
21.53 |
17.95 |
17.81 |
32.38 |
28.34 |
Dividend Yield |
|
4.30% |
3.83% |
4.84% |
5.35% |
5.13% |
4.13% |
4.04% |
4.11% |
4.09% |
3.72% |
3.99% |
Earnings Yield |
|
11.55% |
11.14% |
15.05% |
16.42% |
15.00% |
5.52% |
4.65% |
5.57% |
5.61% |
3.09% |
3.53% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.82 |
0.85 |
0.00 |
0.73 |
0.74 |
0.73 |
0.76 |
0.78 |
0.76 |
0.72 |
0.74 |
Enterprise Value to Revenue (EV/Rev) |
|
5.55 |
5.92 |
1.26 |
4.34 |
4.48 |
4.40 |
4.54 |
5.68 |
5.34 |
5.09 |
5.30 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
12.09 |
13.04 |
2.65 |
9.17 |
9.53 |
14.51 |
13.96 |
18.12 |
16.92 |
19.45 |
19.27 |
Enterprise Value to EBIT (EV/EBIT) |
|
14.97 |
15.98 |
3.13 |
10.99 |
11.65 |
23.57 |
22.42 |
29.02 |
26.84 |
39.32 |
35.62 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
19.51 |
20.06 |
4.37 |
15.38 |
16.25 |
26.54 |
32.29 |
34.32 |
31.72 |
42.93 |
39.24 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
7.35 |
8.68 |
2.67 |
11.34 |
12.38 |
10.97 |
9.44 |
12.20 |
14.05 |
9.11 |
10.76 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
1.12 |
0.09 |
0.00 |
0.00 |
2.28 |
0.00 |
35.80 |
12.40 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.02 |
1.14 |
0.00 |
1.01 |
1.03 |
0.59 |
0.63 |
0.96 |
0.83 |
0.61 |
0.63 |
Long-Term Debt to Equity |
|
1.02 |
1.14 |
0.00 |
1.01 |
1.03 |
0.59 |
0.45 |
0.76 |
0.62 |
0.61 |
0.56 |
Financial Leverage |
|
0.95 |
1.98 |
-1.96 |
0.95 |
1.03 |
0.86 |
-1.77 |
0.99 |
0.93 |
0.63 |
0.63 |
Leverage Ratio |
|
9.12 |
9.50 |
9.60 |
9.71 |
9.86 |
9.82 |
10.10 |
9.90 |
9.82 |
9.79 |
9.54 |
Compound Leverage Factor |
|
9.12 |
9.50 |
9.60 |
9.71 |
9.86 |
9.82 |
10.10 |
9.90 |
9.82 |
9.79 |
9.54 |
Debt to Total Capital |
|
50.51% |
53.33% |
0.00% |
50.35% |
50.80% |
37.28% |
38.73% |
48.96% |
45.43% |
37.89% |
38.47% |
Short-Term Debt to Total Capital |
|
0.10% |
0.24% |
0.00% |
0.18% |
0.00% |
0.00% |
11.25% |
10.34% |
11.34% |
0.00% |
4.09% |
Long-Term Debt to Total Capital |
|
50.41% |
53.09% |
0.00% |
50.16% |
50.80% |
37.28% |
27.48% |
38.61% |
34.10% |
37.89% |
34.38% |
Preferred Equity to Total Capital |
|
2.43% |
2.26% |
0.00% |
2.34% |
2.31% |
2.92% |
2.85% |
2.34% |
2.40% |
0.00% |
2.55% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
47.07% |
44.41% |
100.00% |
47.32% |
46.88% |
59.80% |
58.42% |
48.71% |
52.17% |
62.11% |
58.98% |
Debt to EBITDA |
|
7.48 |
8.15 |
0.00 |
6.30 |
6.54 |
7.42 |
7.09 |
11.35 |
10.11 |
9.90 |
10.01 |
Net Debt to EBITDA |
|
6.55 |
7.04 |
0.00 |
5.35 |
5.44 |
4.66 |
4.80 |
8.68 |
7.45 |
6.15 |
5.80 |
Long-Term Debt to EBITDA |
|
7.46 |
8.11 |
0.00 |
6.28 |
6.54 |
7.42 |
5.03 |
8.96 |
7.59 |
9.90 |
8.95 |
Debt to NOPAT |
|
12.07 |
12.53 |
0.00 |
10.57 |
11.14 |
13.56 |
16.39 |
21.51 |
18.95 |
21.86 |
20.40 |
Net Debt to NOPAT |
|
10.57 |
10.84 |
0.00 |
8.98 |
9.28 |
8.51 |
11.09 |
16.44 |
13.96 |
13.58 |
11.82 |
Long-Term Debt to NOPAT |
|
12.05 |
12.48 |
0.00 |
10.53 |
11.14 |
13.56 |
11.63 |
16.96 |
14.22 |
21.86 |
18.23 |
Noncontrolling Interest Sharing Ratio |
|
4.87% |
2.47% |
2.45% |
4.79% |
4.80% |
4.74% |
2.40% |
4.64% |
4.55% |
2.26% |
4.38% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-352 |
6,298 |
18,701 |
-726 |
-318 |
1,852 |
-19,803 |
108 |
390 |
-766 |
-711 |
Operating Cash Flow to CapEx |
|
1,933.14% |
0.00% |
341.56% |
832.86% |
1,436.37% |
0.00% |
1,817.65% |
985.55% |
899.57% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
-7.00 |
61.57 |
110.78 |
-3.25 |
-1.25 |
6.81 |
-74.58 |
0.39 |
1.40 |
-2.96 |
-2.96 |
Operating Cash Flow to Interest Expense |
|
4.64 |
1.21 |
0.28 |
0.59 |
0.78 |
0.24 |
0.58 |
0.41 |
0.38 |
0.80 |
0.41 |
Operating Cash Flow Less CapEx to Interest Expense |
|
4.40 |
1.21 |
0.20 |
0.52 |
0.73 |
0.24 |
0.55 |
0.37 |
0.34 |
0.80 |
0.41 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.03 |
0.03 |
0.04 |
0.04 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
0.02 |
0.03 |
Fixed Asset Turnover |
|
3.08 |
3.25 |
3.59 |
3.67 |
3.69 |
2.94 |
3.08 |
3.07 |
3.08 |
2.76 |
2.85 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
7,989 |
8,604 |
-13,081 |
8,303 |
8,390 |
6,655 |
6,804 |
8,311 |
8,088 |
7,297 |
7,617 |
Invested Capital Turnover |
|
0.15 |
0.11 |
-0.36 |
0.18 |
0.17 |
0.14 |
-0.36 |
0.14 |
0.14 |
0.15 |
0.15 |
Increase / (Decrease) in Invested Capital |
|
448 |
-6,189 |
-18,598 |
813 |
402 |
-1,949 |
19,885 |
7.81 |
-302 |
642 |
813 |
Enterprise Value (EV) |
|
6,521 |
7,345 |
1,728 |
6,084 |
6,217 |
4,856 |
5,191 |
6,492 |
6,152 |
5,287 |
5,637 |
Market Capitalization |
|
2,794 |
3,183 |
2,550 |
2,339 |
2,473 |
3,104 |
3,213 |
3,189 |
3,250 |
3,615 |
3,746 |
Book Value per Share |
|
$25.01 |
$25.42 |
$26.12 |
$26.04 |
$26.06 |
$26.37 |
$26.52 |
$26.85 |
$27.96 |
$29.17 |
$27.02 |
Tangible Book Value per Share |
|
$17.32 |
$17.74 |
$18.46 |
$18.42 |
$18.46 |
$18.78 |
$18.89 |
$19.28 |
$20.41 |
$21.65 |
$20.20 |
Total Capital |
|
7,989 |
8,604 |
3,932 |
8,303 |
8,390 |
6,655 |
6,804 |
8,311 |
8,088 |
7,103 |
7,617 |
Total Debt |
|
4,035 |
4,589 |
0.00 |
4,180 |
4,263 |
2,481 |
2,635 |
4,069 |
3,675 |
2,691 |
2,930 |
Total Long-Term Debt |
|
4,027 |
4,568 |
0.00 |
4,165 |
4,263 |
2,481 |
1,869 |
3,209 |
2,758 |
2,691 |
2,619 |
Net Debt |
|
3,532 |
3,967 |
-822 |
3,551 |
3,550 |
1,558 |
1,784 |
3,110 |
2,708 |
1,672 |
1,698 |
Capital Expenditures (CapEx) |
|
12 |
0.00 |
14 |
16 |
14 |
0.00 |
8.50 |
12 |
12 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
-5.80 |
0.00 |
0.00 |
0.00 |
-8.24 |
-0.00 |
Net Nonoperating Obligations (NNO) |
|
4,035 |
4,589 |
-17,012 |
4,180 |
4,263 |
2,481 |
2,635 |
4,069 |
3,675 |
2,886 |
2,930 |
Total Depreciation and Amortization (D&A) |
|
25 |
24 |
23 |
39 |
33 |
34 |
34 |
33 |
33 |
37 |
31 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.62 |
$0.70 |
$0.67 |
$0.56 |
$0.53 |
($0.62) |
$0.52 |
$0.75 |
$0.56 |
($1.10) |
$0.60 |
Adjusted Weighted Average Basic Shares Outstanding |
|
149.32M |
149.16M |
149.76M |
149.99M |
150.04M |
149.97M |
149.86M |
149.87M |
150.25M |
151.93M |
165.23M |
Adjusted Diluted Earnings per Share |
|
$0.62 |
$0.69 |
$0.66 |
$0.56 |
$0.53 |
($0.62) |
$0.52 |
$0.74 |
$0.56 |
($1.10) |
$0.59 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
150.26M |
150.50M |
151.13M |
150.87M |
151.01M |
150.86M |
151.29M |
151.29M |
151.49M |
153.35M |
166.60M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
300.72M |
301.08M |
301.78M |
301.84M |
301.88M |
302.18M |
301.53M |
301.80M |
151.26M |
166.25M |
165.81M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
96 |
109 |
103 |
87 |
83 |
-97 |
81 |
72 |
88 |
-124 |
102 |
Normalized NOPAT Margin |
|
28.72% |
31.02% |
30.75% |
26.94% |
25.95% |
-78.93% |
25.14% |
22.38% |
26.69% |
-195.90% |
29.50% |
Pre Tax Income Margin |
|
36.52% |
38.24% |
38.89% |
34.22% |
32.00% |
-112.76% |
31.34% |
31.98% |
32.80% |
-279.85% |
35.13% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
2.44 |
1.31 |
0.77 |
0.50 |
0.40 |
-0.51 |
0.38 |
0.38 |
0.39 |
-0.69 |
0.50 |
NOPAT to Interest Expense |
|
1.92 |
1.06 |
0.61 |
0.39 |
0.33 |
-0.36 |
0.31 |
0.42 |
0.32 |
-0.48 |
0.42 |
EBIT Less CapEx to Interest Expense |
|
2.20 |
1.31 |
0.69 |
0.43 |
0.35 |
-0.51 |
0.35 |
0.33 |
0.35 |
-0.69 |
0.50 |
NOPAT Less CapEx to Interest Expense |
|
1.68 |
1.06 |
0.53 |
0.32 |
0.27 |
-0.36 |
0.27 |
0.38 |
0.27 |
-0.48 |
0.42 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
39.67% |
36.77% |
34.43% |
34.82% |
36.44% |
77.09% |
88.67% |
76.15% |
75.10% |
89.40% |
82.35% |
Augmented Payout Ratio |
|
49.11% |
38.80% |
36.35% |
36.74% |
38.44% |
80.69% |
103.65% |
88.99% |
87.67% |
103.94% |
98.09% |
Key Financial Trends
Associated Banc (NYSE:ASB) has demonstrated a solid financial performance over the last several quarters, with some fluctuations primarily due to marked changes in non-interest income and provisions for credit losses.
Financial Highlights and Trends:
- Q1 2025 showed a strong net income of $101.7 million, a significant recovery from the losses in Q4 2024, reflecting improving operational performance.
- Net interest income remains robust, with Q1 2025 reporting $285.9 million, up from $270.3 million in Q4 2024, supported by stable loan and lease interest income around $433 million.
- Total assets increased from $41.1 billion in Q1 2024 to $43.3 billion in Q1 2025, highlighting balance sheet growth driven by loans and leases, which increased from approximately $29.1 billion to $30.3 billion.
- Deposits grew substantially with interest-bearing deposits rising to over $29 billion in Q1 2025, up from around $27.5 billion in Q1 2024, indicating strong customer deposit inflows.
- Operating cash flow remains positive and healthy, with Q1 2025 cash from operating activities near $97.5 million, supporting liquidity and operational strength.
- Non-interest income has been volatile, including large negative net realized & unrealized capital losses in Q4 2024 (-$278 million) that depressed total non-interest income to -$207 million, while Q1 2025 recovered somewhat to positive $58.8 million.
- Provisions for credit losses have fluctuated, rising to $23 million in prior quarters but moderating to $13 million in Q1 2025, reflecting careful risk management but signaling some asset quality concern.
- Marketing and operating expenses have remained elevated but stable, with total non-interest expenses around $210 million in Q1 2025, slightly lower than $224 million in Q4 2024.
- Q4 2024 experienced a net loss of $116 million, mostly due to large investment losses and high expenses, showcasing vulnerability to market and credit risk.
- The effective tax rate appears volatile, with negative income tax expense in some periods (e.g., Q4 2024), hinting at tax timing differences or valuation allowances that complicate earnings consistency.
Summary: Associated Banc has generally maintained a strong net interest margin and growing asset base, demonstrating resilience in core banking operations. While the bank faced significant volatility in investment results and credit loss provisions in late 2024, the positive earnings rebound in early 2025 is encouraging. Investors should watch for continued stability in non-interest income and credit trends to confirm sustainability of recent improvements. Operational efficiency is steady, but expense control will remain important.
Overall, the financial data suggest a recovery and cautious optimism for Associated Banc's near-term outlook following a challenging quarter at the end of 2024.
09/13/25 05:04 PM ETAI Generated. May Contain Errors.