WallStSmart

Associated Banc-Corp (ASB)vsU.S. Bancorp (USB)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

U.S. Bancorp generates 1738% more annual revenue ($26.35B vs $1.43B). ASB leads profitability with a 33.1% profit margin vs 28.7%. ASB appears more attractively valued with a PEG of 1.78. 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

USB

Strong Buy

75

out of 100

Grade: B

Growth: 7.3Profit: 7.5Value: 10.0Quality: 5.3
Piotroski: 5/9Altman Z: 0.39
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
USBUndervalued (+75.8%)

Margin of Safety

+75.8%

Fair Value

$214.00

Current Price

$51.89

$162.11 discount

UndervaluedFair: $214.00Overvalued

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

USB6 strengths · Avg: 9.3/10
P/E RatioValuation
11.3x10/10

Attractively priced relative to earnings

Price/BookValuation
1.4x10/10

Reasonable price relative to book value

Operating MarginProfitability
39.3%10/10

Strong operational efficiency at 39.3%

Market CapQuality
$81.01B9/10

Large-cap with strong market position

Profit MarginProfitability
28.7%9/10

Keeps 29 of every $100 in revenue as profit

EPS GrowthGrowth
24.7%8/10

Earnings expanding 24.7% YoY

Areas to Watch

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

Expensive relative to growth rate

USB2 concerns · Avg: 3.0/10
PEG RatioValuation
1.804/10

Expensive relative to growth rate

Altman Z-ScoreHealth
0.392/10

Distress zone — elevated risk

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 : USB

The strongest argument for USB centers on P/E Ratio, Price/Book, Operating Margin. Profitability is solid with margins at 28.7% and operating margin at 39.3%.

Bear Case : ASB

The primary concerns for ASB are PEG Ratio.

Bear Case : USB

The primary concerns for USB are PEG Ratio, Altman Z-Score.

Key Dynamics to Monitor

USB carries more volatility with a beta of 1.04 — expect wider price swings.

ASB is growing revenue faster at 7.2% — sustainability is the question.

USB generates stronger free cash flow (2.8B), providing more financial flexibility.

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

Bottom Line

ASB scores higher overall (82/100 vs 75/100), backed by strong 33.1% margins. USB offers better value entry with a 75.8% margin of safety. 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.

U.S. Bancorp

FINANCIAL SERVICES · BANKS - REGIONAL · USA

U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions.

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