Axos Financial vs Associated Bank

Axos Financial Inc. and Associated Banc-Corp: this page compares their business models, financial performance, and market context in clear, neutral terms. It offers factual descriptions of each company’s strategy, operations, and competitive environment to help readers understand how they operate within the market. Educational content, not financial advice.

Axos Financial Inc. and Associated Banc-Corp: this page compares their business models, financial performance, and market context in clear, neutral terms. It offers factual descriptions of each compan...

Comparison Snapshot

Key Financial Metrics

AX

Metric

ASB

$5.27B

Market Cap

$4.34B

7.36%

Potential Profit

5.89%

Buy

Analyst Rating

Hold

Investment Analysis

Axos Financial

AX

Pros

Axos Financial operates a nationwide digital bank with broad product distribution channels including affinity groups and sales teams, enhancing market reach.
Reported 13.59% revenue growth in 2025 to $1.20 billion, indicating strong top-line momentum despite a slight earnings dip.
Valuation metrics show a reasonable price-to-earnings ratio around 10.3 and forward P/E under 10, suggesting potentially attractive valuation.

Considerations

Majority of mortgage exposure is concentrated in southern California, posing geographic concentration risk.
Net income declined 3.8% year-on-year in 2025, signaling some profit pressure despite revenue growth.
Higher stock beta of 1.30 indicates greater volatility compared to broader market, increasing investment risk.

Associated Bank

ASB

Pros

Associated Banc-Corp has completed a balance sheet overhaul improving profitability and fundamental financial health.
It is the largest bank holding company based in Wisconsin with $44 billion in total assets and nearly 200 branches, showing scale and regional strength.
Reported record quarterly net interest income in 2025, highlighting strong core earnings capability.

Considerations

Significant revenue dependence on corporate and commercial segments could increase sensitivity to economic cycles.
The stock exhibits lower beta of 0.82, implying relatively less growth potential and market responsiveness.
Dividend yield and stability could be pressured by macroeconomic factors impacting bank operations and margins.

About The Companies

Axos Financial (AX)

Axos Financial Inc (AX) is a US-based digital bank offering online consumer and commercial banking, direct lending, mortgages and corporate finance solutions. The company leans on a low-branch, technology-led model to reduce overheads and scale lending and deposit products across retail and business customers. Key revenue drivers include net interest income from lending and deposits, fee income from deposit and payment services, and mortgage origination gains. With a market capitalisation of about $4.48 billion, Axos sits in the regional/digital banking niche where growth depends on loan growth, interest rate margins and credit quality. Investors should note banking earnings can be cyclical: profitability is sensitive to interest-rate movements, loan-loss provisions and regulatory changes. This summary is for educational purposes only and is not personalised financial advice. Values can fall as well as rise; suitability depends on your circumstances and you should consider seeking independent advice before investing.

Associated Bank (ASB)

Associated Banc-Corp is a US-based bank holding company offering a wide spectrum of financial products and services. Operating through its main subsidiary, Associated Bank, it serves individuals and businesses across more than 100 communities in Wisconsin, Illinois, Minnesota, and Missouri. The company's operations are categorised into key segments. Its Corporate and Commercial Specialty division caters to larger businesses and municipalities with lending and deposit solutions. The Community, Consumer, and Business arm provides everyday banking, lending, and investment services to individuals and smaller enterprises. With a substantial regional presence and a diverse service portfolio, Associated Banc-Corp represents a significant player in the Midwestern financial landscape. As with any bank, its performance can be influenced by economic conditions and interest rate changes. Remember, past performance is not an indicator of future results.

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Harley-Davidson is negotiating the sale of a stake in its financing arm, a strategic move to raise significant capital. This theme focuses on other manufacturers with large, valuable financing units that could be prime candidates for similar spin-offs or sales to unlock value.

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Comparison Snapshot