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 established as the Bank of New South Wales in 1817. It is one of Australia’s major banks and listed on the ASX in 1970.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$38.17

03 Aug
2026

0.300

OPEN

$37.70

0.79%

HIGH

$38.17

2,936,382

LOW

$37.56

TARGET
$34.512 -9.6% 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 FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 201.9 205.0 xxx
DPS (cps) xxx 153.0 157.8 xxx
EPS Growth xxx 0.5% 1.5% xxx
DPS Growth xxx - 7.8% 3.1% xxx
PE Ratio xxx N/A 18.9 xxx
Dividend Yield xxx N/A 4.1% xxx
Div Pay Ratio(%) xxx 75.8% 77.0% xxx

Dividend yield today if purchased 3 years ago: 6.96%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.94

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: 08/05 - ex-div 77.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx201.9
DPS All xxxxxxxxxxxxxxx153.0
Sales/Revenue xxxxxxxxxxxxxxx58,417.0 M
Book Value Per Share xxxxxxxxxxxxxxx2,128.3
Net Operating Cash Flow xxxxxxxxxxxxxxx13,925.0 M
Net Profit Margin xxxxxxxxxxxxxxx11.83 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx9.57 %
Return on Invested Capital xxxxxxxxxxxxxxx2.77 %
Return on Assets xxxxxxxxxxxxxxx0.63 %
Return on Equity xxxxxxxxxxxxxxx9.57 %
Return on Total Capital xxxxxxxxxxxxxxx3.40 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx8,339.0 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx52,741 M
Long Term Debt xxxxxxxxxxxxxxx179,702 M
Total Debt xxxxxxxxxxxxxxx232,443 M
Goodwill - Gross xxxxxxxxxxxxxxx7,413 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx50,430 M
Price To Book Value xxxxxxxxxxxxxxx1.83

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx1,147.0 M
Capex % of Sales xxxxxxxxxxxxxxx1.96 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx4,942 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx191,846 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

UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Citi

21/07/2026

3

Neutral

$37.50

-1.76%

Citi believes Australian banks are well positioned to benefit from AI, given their large data assets, concentrated market structure and relatively narrow product offerings.

Commentary notes the performance of global peers suggests AI could lift pre-tax profit by around 3%-5% over one to three years. Agentic AI has the potential to drive more meaningful benefits than broader productivity tools, the analysts note.

In the broker's view, CommBank appears furthest advanced across infrastructure, data and culture, followed by National Australia Bank. It is felt ANZ Bank and Westpac face near-term constraints from legacy integration and restructuring.

Stronger governance could ultimately become a competitive advantage, although Citi believes potential AI benefits remain difficult to quantify and insufficient to justify historically high sector valuations.

Neutral rating and $37.50 target for Westpac.

FORECAST
Citi forecasts a full year FY26 dividend of 155.00 cents and EPS of 207.00 cents.
Citi forecasts a full year FY27 dividend of 160.00 cents and EPS of 214.00 cents.

Ord Minnett

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

4

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

17/06/2026

5

Sell

$31.00

-18.78%

Westpac is now forecasting a -48% decline in investor home loan credit growth from FY26-FY27, with total housing credit growth forecast to drop to 4.7% in FY27 from 6.5% in FY26.

Commentary also notes the market update provided signaled the digital banking project, Unite, plans to have one portal to view, service and originate all customer needs, simplifying 17 sales systems and 34 authentication systems.

Jarden remains sceptical about the adoption of AI planning to simplify processes across lending, consumer finance and customer service. Sell rating and $31 target maintained.

FORECAST
Jarden forecasts a full year FY26 dividend of 155.00 cents and EPS of 206.00 cents.
Jarden forecasts a full year FY27 dividend of 157.00 cents and EPS of 212.00 cents.
Access Extra Coverage Research History >

WBC STOCK CHART

FNArena News on WBC

1
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