ASB FY 2024 Earnings Report — Associated Banc-Corp Revenue & Financial Results | Market Cap Arena

Associated Banc-CorpASB

FY 2024 Earnings

Reported February 12, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2024	Prior Q	FY 2023	QoQ Change	YoY Change
Revenue	$2.1B	—	$2.0B	—	4.4%
Op. Income	$134M	—	$206M	—	-34.7%
Gross Margin	44.9%	—	50.3%	—	-5.5pp
Net Margin	5.9%	—	9.1%	—	-3.2pp
EPS (Diluted)	$0.72	—	$1.13	—	-36.3%
Free Cash Flow	$535M	—	$381M	—	40.5%

Revenue Flow

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.2B
GROSS PROFIT	$944M
R&D Expenses	$0
Selling & Marketing	$28M
General & Administrative	$526M
SG&A Expenses	$555M
Other Expenses	$255M
Operating Expenses	$810M
Cost & Expenses	$2.0B
OPERATING INCOME	$134M
Interest Income	$2.1B
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$134M
Income Tax Expense	$11M
Net Income from Continuing Ops	$123M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$123M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$112M
D&A	$103M
EBIT	$134M
EBITDA	$237M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.2B
GROSS PROFIT	$944M
R&D Expenses	$0
Selling & Marketing	$28M
General & Administrative	$526M
SG&A Expenses	$555M
Other Expenses	$255M
Operating Expenses	$810M
Cost & Expenses	$2.0B
OPERATING INCOME	$134M
Interest Income	$2.1B
Interest Expense	$1.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$134M
Income Tax Expense	$11M
Net Income from Continuing Ops	$123M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$123M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$112M
D&A	$103M
EBIT	$134M
EBITDA	$237M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$123M
Depreciation & Amortization	$103M
Stock-Based Compensation	$0
Deferred Income Tax	$35M
Other Non-Cash Items	$327M
Change in Working Capital	-$7M
OPERATING CASH FLOW	$580M
Capital Expenditure	-$45M
Acquisitions (Net)	$0
Purchases of Investments	-$3.3B
Sales/Maturities of Investments	$2.4B
Other Investing Activities	-$1.3B
NET CASH FROM INVESTING	-$2.2B
Net Debt Issuance	$354M
Common Stock Repurchased	-$25M
Common Dividends Paid	-$139M
Other Financing Activities	$1.2B
NET CASH FROM FINANCING	$1.7B
FREE CASH FLOW	$535M
Net Change in Cash	$96M

Balance Sheet

Item	Amount
Cash & Equivalents	$998M
Short-Term Investments	$4.6B
Net Receivables	$168M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.7B
PP&E (Net)	$379M
Goodwill	$1.1B
Intangible Assets	$119M
Long-Term Investments	$34.1B
Tax Assets	$0
Other Non-Current Assets	$1.5B
TOTAL NON-CURRENT ASSETS	$37.3B
TOTAL ASSETS	$43.0B
Account Payables	$0
Short-Term Debt	$1.7B
Deferred Revenue	$0
Other Current Liabilities	$34.6B
TOTAL CURRENT LIABILITIES	$36.4B
Long-Term Debt	$1.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$607M
TOTAL NON-CURRENT LIABILITIES	$2.0B
TOTAL LIABILITIES	$38.4B
Common Stock	$2M
Additional Paid-In Capital	$2.0B
Retained Earnings	$2.9B
Treasury Stock	-$483M
Accum. Other Comp. Income	-$74M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.6B
Minority Interest	$0
TOTAL EQUITY	$4.6B
TOTAL LIABILITIES & EQUITY	$43.0B
Total Debt	$3.2B
Net Debt	$2.2B