15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has declined 2.2% per year over the past 5 years.
Net income has grown faster than revenue (9.1% vs -2.2% per year).
Financial health
Total debt ($4.2B) exceeds cash ($1.7B); net debt is $2.5B.
Total debt has grown faster than revenue (11.4% vs -2.2% per year).
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 32.8% of earnings.
The dividend has grown 6.8% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
—
$475M
—
—
—
$4.2B
$1.7B
2024
—
$123M
—
—
—
$3.2B
$1.0B
2023
$1.1B
$183M
0.0%
0.0%
—
$2.8B
$924M
2022
$1.2B
$366M
0.0%
0.0%
—
$5.2B
$621M
2021
$1.1B
$351M
0.0%
0.0%
—
$2.2B
$1.0B
2020
$1.3B
$307M
0.0%
0.0%
—
$2.4B
$716M
2019
$1.2B
$327M
0.0%
0.0%
—
$4.2B
$589M
2018
$1.2B
$334M
0.0%
0.0%
—
$4.5B
$877M
2017
$1.1B
$229M
0.0%
0.0%
—
$4.1B
$716M
2016
$1.1B
$200M
0.0%
0.0%
—
$3.9B
$642M
2015
$1.0B
$188M
0.0%
0.0%
—
$3.5B
$474M
2014
$972M
$191M
0.0%
0.0%
—
$5.0B
—
2013
$959M
$189M
0.0%
0.0%
—
$3.8B
—
2012
$939M
$179M
0.0%
0.0%
—
$3.3B
—
2011
$886M
$140M
0.0%
0.0%
—
$3.7B
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
—
$120M
—
—
—
$4.4B
$1.4B
Dec '25
—
$137M
—
—
—
$4.2B
$1.7B
Sep '25
—
$125M
—
—
—
$4.2B
$1.3B
Jun '25
—
$111M
—
—
—
$4.5B
$1.3B
Mar '25
—
$102M
—
—
—
$2.9B
$1.2B
Dec '24
—
-$162M
—
—
—
$3.2B
$1.0B
Sep '24
$330M
$88M
0.0%
0.0%
—
$3.7B
$967M
Jun '24
$322M
$116M
0.0%
0.0%
—
$4.1B
$959M
Mar '24
$323M
$81M
0.0%
0.0%
—
$2.6B
$852M
Dec '23
$122M
-$91M
0.0%
0.0%
—
$2.8B
$924M
Sep '23
$321M
$83M
0.0%
0.0%
—
$4.7B
$713M
Jun '23
$323M
$87M
0.0%
0.0%
—
$4.5B
$630M
Mar '23
$336M
$103M
0.0%
0.0%
—
$5.8B
$823M
Dec '22
$351M
$109M
0.0%
0.0%
—
$5.2B
$621M
Sep '22
$335M
$96M
0.0%
0.0%
—
$4.3B
$502M
Jun '22
$292M
$87M
0.0%
0.0%
—
$4.2B
$867M
Mar '22
$262M
$74M
0.0%
0.0%
—
$2.2B
$501M
Dec '21
$268M
$77M
0.0%
0.0%
—
$2.2B
$1.0B
Sep '21
$266M
$89M
0.0%
0.0%
—
$2.2B
$1.7B
Jun '21
$253M
$91M
0.0%
0.0%
—
$2.4B
$1.8B
Valuation over time
How the market has priced ASB against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 8.1× (Mar '23) to 10.8× (Jun '26).
The price-to-sales ratio has risen from 2.4× (Mar '23) to 4.0× (Nov '24).
The dividend yield has fallen from 4.1% (Mar '23) to 3.0% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is ASB growing its revenue and profit?
Over the past 5 years, Associated Banc-Corp's revenue has declined 2.2% per year, and net income grown 9.1% per year. These are computed facts, not advice.
How much debt does ASB have?
As of FY2025, Associated Banc-Corp reported $4.2B of total debt against $1.7B of cash.
What is ASB's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin —.
What is ASB's P/E ratio?
As of Jun '26, Associated Banc-Corp traded at a price-to-earnings ratio of about 10.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.