WESTPAC BANKING CORPORATION (WBC)
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WBC

WBC - WESTPAC BANKING CORPORATION

FNArena Sector : Banks
Year End: September
GICS Industry Group : Banks
Debt/EBITDA: N/A
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Westpac is an Australian bank and financial services provider. It is Australia's oldest bank, being established in Sydney as the Bank of NSW in 1817. It is the second largest bank by market cap. It listed on the ASX in July 1970.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$31.64

13 May
2025

0.560

OPEN

$31.41

1.80%

HIGH

$31.82

10,730,956

LOW

$31.34

TARGET
$28.983 -8.4% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AFG . ANZ . BEN . BOQ . CBA . HLI . MYS . NAB . RMC . SUN .
FNARENA'S MARKET CONSENSUS FORECASTS
WBC: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 200.9 195.4 xxx
DPS (cps) xxx 166.0 152.2 xxx
EPS Growth xxx - 2.2% - 2.7% xxx
DPS Growth xxx 16.9% - 8.3% xxx
PE Ratio xxx N/A 16.0 xxx
Dividend Yield xxx N/A 4.9% xxx
Div Pay Ratio(%) xxx 82.6% 77.9% xxx

Dividend yield today if purchased 3 years ago: 6.92%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.31

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 09/05 - ex-div 90c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx200.9
DPS All xxxxxxxxxxxxxxx166.0
Sales/Revenue xxxxxxxxxxxxxxx57,514.0 M
Book Value Per Share xxxxxxxxxxxxxxx2,085.3
Net Operating Cash Flow xxxxxxxxxxxxxxx-933.0 M
Net Profit Margin xxxxxxxxxxxxxxx12.14 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx9.69 %
Return on Invested Capital xxxxxxxxxxxxxxx2.90 %
Return on Assets xxxxxxxxxxxxxxx0.66 %
Return on Equity xxxxxxxxxxxxxxx9.69 %
Return on Total Capital xxxxxxxxxxxxxxx3.43 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-6,820.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx55,005 M
Long Term Debt xxxxxxxxxxxxxxx174,645 M
Total Debt xxxxxxxxxxxxxxx229,650 M
Goodwill - Gross xxxxxxxxxxxxxxx7,433 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx65,667 M
Price To Book Value xxxxxxxxxxxxxxx1.52

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx1,017.0 M
Capex % of Sales xxxxxxxxxxxxxxx1.77 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4,564 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx177,222 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.4

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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UBS

06/05/2025

1

Buy

$36.00

13.78%

Westpac’s 1H25 cash earnings were broadly in line with the UBS forecast but cost and capital pressures remain key issues, in the broker's view. The interim dividend of 76c compared to the consensus estimate for 80c .

Return on equity fell to 9.4%, impacted by a -6bps credit loss ratio and higher expenses from increased headcount and IT spending, explain the analysts. The net interest margin (NIM) contracted by -3bps half-on-half.

UBS cut its FY25-27 earnings forecasts by -6.1%, -3.6%, and -3.2% respectively.

Cost growth of 5.6% year-on-year and capital pressure from a $12bn risk weighted assets (RWA) increase is weighing on sentiment, suggests UBS. 

Despite lower dividend forecasts and trimmed return on equity (ROE) expectations, UBS sees Westpac as the most credible re-rate story in a fully priced banking sector. The broker lowers the target price to $36.00 from $38.00 and maintains a Buy rating.

FORECAST
UBS forecasts a full year FY25 dividend of 153.00 cents and EPS of 193.00 cents.
UBS forecasts a full year FY26 dividend of 167.00 cents and EPS of 207.00 cents.

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

4

xxxxxxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

16/10/2024

-1

No Rating

-

As a result of analyst Andrew Lyons leaving the employ of Goldman Sachs, the broker is suspending research coverage of Westpac.

The former rating, target, and forecasts no longer apply.
Access Extra Coverage Research History >

WBC STOCK CHART

FNArena News on WBC

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