WallStSmart

Associated Banc-Corp (ASB)vsHDFC Bank Limited ADR (HDB)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

HDFC Bank Limited ADR generates 189472% more annual revenue ($2.95T vs $1.56B). ASB leads profitability with a 32.5% profit margin vs 26.8%. HDB appears more attractively valued with a PEG of 1.01. HDB earns a higher WallStSmart Score of 76/100 (B+).

ASB

Strong Buy

67

out of 100

Grade: B-

Growth: 6.7Profit: 7.5Value: 6.3Quality: 6.0
Piotroski: 6/9Altman Z: -0.11

HDB

Strong Buy

76

out of 100

Grade: B+

Growth: 8.7Profit: 7.5Value: 6.3Quality: 5.5
Piotroski: 5/9

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ASB5 strengths · Avg: 9.6/10
P/E RatioValuation
10.8x10/10

Attractively priced relative to earnings

Price/BookValuation
1.1x10/10

Reasonable price relative to book value

Profit MarginProfitability
32.5%10/10

Keeps 33 of every $100 in revenue as profit

Operating MarginProfitability
41.3%10/10

Strong operational efficiency at 41.3%

Revenue GrowthGrowth
23.5%8/10

Revenue surging 23.5% year-over-year

HDB6 strengths · Avg: 9.0/10
Operating MarginProfitability
33.3%10/10

Strong operational efficiency at 33.3%

Free Cash FlowQuality
$1.72T10/10

Generating 1.7T in free cash flow

Market CapQuality
$123.96B9/10

Large-cap with strong market position

Profit MarginProfitability
26.8%9/10

Keeps 27 of every $100 in revenue as profit

P/E RatioValuation
16.8x8/10

Attractively priced relative to earnings

Revenue GrowthGrowth
16.6%8/10

16.6% revenue growth

Areas to Watch

ASB4 concerns · Avg: 2.8/10
PEG RatioValuation
1.784/10

Expensive relative to growth rate

Debt/EquityHealth
1.013/10

Elevated debt levels

EPS GrowthGrowth
-3.1%2/10

Earnings declined 3.1%

Altman Z-ScoreHealth
-0.112/10

Distress zone — elevated risk

HDB1 concerns · Avg: 4.0/10
Price/BookValuation
9.6x4/10

Trading at 9.6x book value

Comparative Analysis Report

WallStSmart Research

Bull Case : ASB

The strongest argument for ASB centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 32.5% and operating margin at 41.3%. Revenue growth of 23.5% demonstrates continued momentum.

Bull Case : HDB

The strongest argument for HDB centers on Operating Margin, Free Cash Flow, Market Cap. Profitability is solid with margins at 26.8% and operating margin at 33.3%. Revenue growth of 16.6% demonstrates continued momentum.

Bear Case : ASB

The primary concerns for ASB are PEG Ratio, Debt/Equity, EPS Growth.

Bear Case : HDB

The primary concerns for HDB are Price/Book.

Key Dynamics to Monitor

ASB carries more volatility with a beta of 0.77 — expect wider price swings.

ASB is growing revenue faster at 23.5% — sustainability is the question.

HDB generates stronger free cash flow (1.7T), providing more financial flexibility.

Monitor BANKS - REGIONAL industry trends, competitive dynamics, and regulatory changes.

Bottom Line

HDB scores higher overall (76/100 vs 67/100), backed by strong 26.8% margins and 16.6% revenue growth. Both earn "Strong Buy" and "Strong Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Associated Banc-Corp

FINANCIAL SERVICES · BANKS - REGIONAL · USA

Associated Banc-Corp, a bank holding company, offers a variety of banking and non-banking products to individuals and businesses in Wisconsin, Illinois, and Minnesota. The company is headquartered in Green Bay, Wisconsin.

HDFC Bank Limited ADR

FINANCIAL SERVICES · BANKS - REGIONAL · USA

HDFC Bank Limited offers various banking and financial services to individuals and businesses in India, Bahrain, Hong Kong and Dubai. The company is headquartered in Mumbai, India.

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