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

$41.48

14 Apr
2026

-1.110

OPEN

$42.72

-2.61%

HIGH

$42.79

7,206,559

LOW

$40.66

TARGET
$35.077

-0.43 change from previous day

 -15.4% 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 FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 201.9 208.1 xxx
DPS (cps) xxx 153.0 160.4 xxx
EPS Growth xxx 0.5% 3.0% xxx
DPS Growth xxx - 7.8% 4.8% xxx
PE Ratio xxx N/A 19.6 xxx
Dividend Yield xxx N/A 3.9% xxx
Div Pay Ratio(%) xxx 75.8% 77.1% xxx

Dividend yield today if purchased 3 years ago: 6.88%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.76

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: 06/11 - ex-div 77c (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

-0.7

No. Of Recommendations

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

Morgans

xx/xx/xxxx

5

xxxxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

15/04/2026

5

Sell

$31.00

-25.27%

In light of the war in the Middle East, Ord Minnett has revisited the banking sector, which has underpinned an average EPS forecast downgrade of 0% to -3% in FY26 for the Big Four, with FY27/FY28 EPS estimates upgraded between 3-4%.

The analyst notes the market is now pricing in at least two more 25bp rate rises from the RBA, taking the cash rate to 4.6%, with the first as soon as May.

Further, Westpac's trading update showed higher bad debt provisions and charges, although Ord Minnett views the increase as modest and potentially underestimating risks from the Middle East conflict and energy shock.

Lending growth and lower costs supported the result, with a stable NIM despite weaker treasury income. The broker questions Westpac’s internal credit risk modeling and instead relies on standardised measures.

EPS forecasts are upgraded across FY26–FY28, driven by stronger cost performance and limited credit deterioration. No change to Sell rating and target of $31.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$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

14/04/2026

4

Underweight

$32.00

-22.85%

Ahead of the bank reporting season Jarden observes volumes should be strong while initial rate rises will support net interest margins and will not hurt treasury and markets. Asset quality has been benign.

The broker suspects banks will likely promote the AI efficiency dividend but will remain cautious about revenue pressure from both agentic AI and Stablecoins. Blockchain presents a material efficiency dividend as well, the broker adds.

Westpac has shown strong momentum in volumes although net interest margins are likely to be volatile, Jarden assesses.

Amid ample capital and a franking credit balance, the broker wonders whether a special dividend may be on the cards. Or will the bank wait until the second half?

Underweight rating and $32 target maintained.

FORECAST
Jarden forecasts a full year FY26 dividend of 155.00 cents and EPS of 211.00 cents.
Jarden forecasts a full year FY27 dividend of 157.00 cents and EPS of 211.00 cents.
Access Extra Coverage Research History >

WBC STOCK CHART

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