WallStSmart

Associated Banc-Corp (ASB)vsItau Unibanco Banco Holding SA (ITUB)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Itau Unibanco Banco Holding SA generates 9593% more annual revenue ($138.95B vs $1.43B). ASB leads profitability with a 33.1% profit margin vs 32.3%. ITUB appears more attractively valued with a PEG of 1.30. ASB earns a higher WallStSmart Score of 82/100 (A-).

ASB

Exceptional Buy

82

out of 100

Grade: A-

Growth: 8.7Profit: 7.5Value: 10.0Quality: 4.5
Piotroski: 5/9

ITUB

Strong Buy

76

out of 100

Grade: B+

Growth: 6.0Profit: 8.0Value: 8.0Quality: 5.0
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ASBUndervalued (+78.2%)

Margin of Safety

+78.2%

Fair Value

$129.64

Current Price

$25.24

$104.40 discount

UndervaluedFair: $129.64Overvalued
ITUBOvervalued (-10.1%)

Margin of Safety

-10.1%

Fair Value

$8.69

Current Price

$8.21

$0.48 premium

UndervaluedFair: $8.69Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ASB5 strengths · Avg: 9.6/10
P/E RatioValuation
9.0x10/10

Attractively priced relative to earnings

Price/BookValuation
0.9x10/10

Reasonable price relative to book value

Profit MarginProfitability
33.1%10/10

Keeps 33 of every $100 in revenue as profit

Operating MarginProfitability
45.3%10/10

Strong operational efficiency at 45.3%

EPS GrowthGrowth
30.4%8/10

Earnings expanding 30.4% YoY

ITUB6 strengths · Avg: 9.7/10
P/E RatioValuation
10.2x10/10

Attractively priced relative to earnings

Profit MarginProfitability
32.3%10/10

Keeps 32 of every $100 in revenue as profit

Operating MarginProfitability
37.3%10/10

Strong operational efficiency at 37.3%

Free Cash FlowQuality
$45.01B10/10

Generating 45.0B in free cash flow

Market CapQuality
$86.41B9/10

Large-cap with strong market position

Return on EquityProfitability
21.0%9/10

Every $100 of equity generates 21 in profit

Areas to Watch

ASB1 concerns · Avg: 4.0/10
PEG RatioValuation
1.784/10

Expensive relative to growth rate

ITUB1 concerns · Avg: 4.0/10
EPS GrowthGrowth
2.8%4/10

2.8% earnings growth

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 33.1% and operating margin at 45.3%.

Bull Case : ITUB

The strongest argument for ITUB centers on P/E Ratio, Profit Margin, Operating Margin. Profitability is solid with margins at 32.3% and operating margin at 37.3%. Revenue growth of 11.0% demonstrates continued momentum.

Bear Case : ASB

The primary concerns for ASB are PEG Ratio.

Bear Case : ITUB

The primary concerns for ITUB are EPS Growth.

Key Dynamics to Monitor

ASB carries more volatility with a beta of 0.79 — expect wider price swings.

ITUB is growing revenue faster at 11.0% — sustainability is the question.

ITUB generates stronger free cash flow (45.0B), providing more financial flexibility.

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

Bottom Line

ASB scores higher overall (82/100 vs 76/100), backed by strong 33.1% margins. Both earn "Exceptional 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.

Itau Unibanco Banco Holding SA

FINANCIAL SERVICES · BANKS - REGIONAL · USA

Ita Unibanco Holding SA offers a range of financial products and services in Brazil and internationally. The company is headquartered in So Paulo, Brazil.

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