Associated Bank vs Hancock Whitney
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KIRAβs take AI analyst
I put Associated Bank and Hancock Whitney side by side, using each oneβs latest annual report. Here is what stands out:
- Hancock Whitney is the larger business, with $1.5B of revenue in fiscal 2025 against $1.5B for Associated Bank.
- Associated Bank grew revenue faster (43.3%, against 4.8%).
- Investors pay more for each dollar of Hancock Whitneyβs earnings: a P/E of 14.4x against 10.5x for Associated Bank.
Who comes out ahead
Of the 5 measures where higher (or lower) is clearly better, how many each company leads.
Associated Bank
ASB
1/5
Revenue growth
Hancock Whitney
HWC
4/5
5-year growthNet marginReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | ASB FY25 | HWC FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.0B | $6.3B |
| Revenue | $1.5B | $1.5B |
| Free cash flow | β | β |
| Net income | $475M | $486M |
| Growth | ||
| Revenue growth | 43.3% | 4.8% |
| 5-year growth | 3.1% | 3.6% |
| Share count change | 8.7% | β1.4% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 31.9% | 32.1% |
| FCF margin | β | β |
| Return on capital | β | β |
| Return on equity | 9.9% | 11.3% |
| Balance sheet | ||
| Net debt | β | β |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $156M | $401M |
| Valuation & quality | ||
| P/E | 10.5x | 14.4x |
| Piotroski F-score | β | β |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.

