WESTPAC BANKING CORPORATION (WBC)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

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

$42.72

26 Feb
2026

-0.230

OPEN

$43.00

-0.54%

HIGH

$43.13

3,912,599

LOW

$42.46

TARGET
$35.97 -15.8% 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 201.9 211.9 xxx
DPS (cps) xxx 153.0 161.4 xxx
EPS Growth xxx 0.5% 4.9% xxx
DPS Growth xxx - 7.8% 5.5% xxx
PE Ratio xxx N/A 20.1 xxx
Dividend Yield xxx N/A 3.8% xxx
Div Pay Ratio(%) xxx 75.8% 76.2% xxx

Dividend yield today if purchased 3 years ago: 6.79%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.60

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

-0.6

No. Of Recommendations

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

Morgans

xx/xx/xxxx

4

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

16/02/2026

5

Underweight

$35.70

-16.43%

Morgan Stanley notes sound operating trends at Westpac in the first quarter where the cash profit was 4% above forecasts.

The trading update has not materially changed the broker's view on the outlook, as the share price moved over recent days to factor in a better result.

Morgan Stanley believes the bank's aim to win back natural market share limits the potential for a positive surprise on margins or costs this year. FY26-28 cash EPS estimates are upgraded by 2-3%.

Underweight. Target is raised to $35.70 from $34.50. Industry view is In-line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 162.00 cents and EPS of 216.00 cents.
Morgan Stanley forecasts a full year FY27 dividend of 170.00 cents and EPS of 230.00 cents.

Ord Minnett

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

18/02/2026

4

Underweight

$32.00

-25.09%

Westpac’s 1Q26 trading update was solid on the surface, but Jarden argues the stock now enters a higher-risk execution phase as the Unite technology simplification program moves into large-scale customer migrations.

Cash NPAT of $1.9bn represented around 54% of Jarden’s 1H26 estimate, with revenue up 1% and net interest income up 2%, although NIM slipped -1bp to 1.94% as core NIM fell -3bps on competition and a lower rate environment.

Jarden leaves FY26-28 EPS forecasts unchanged and notes capital remains sensitive to the RAMS settlement and the remaining circa $1bn buyback.

The broker warns banking valuations look stretched in a historical contect and retains a Underweight rating, with target price held at $32.00.

FORECAST
Jarden forecasts a full year FY26 dividend of 155.00 cents and EPS of 200.70 cents.
Jarden forecasts a full year FY27 dividend of 157.00 cents and EPS of 198.40 cents.
Access Extra Coverage Research History >

WBC STOCK CHART

FNArena News on WBC

1
Weekly Ratings, Targets, Forecast Changes – 20-02-26

Feb 23 2026 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Feb 19, 2026

Feb 19 2026 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Feb 18, 2026

Feb 18 2026 - Daily Market Reports
4
FNArena Corporate Results Monitor – 16-02-2026

Feb 16 2026 - Australia
5
CBA’s Stunning Result Keeps Premium In Place

Feb 16 2026 - Australia

Latest Banks News

1
Australian Banks: Coming Home To Roost

Nov 27 2025 - Feature Stories
2
Less Than Perfect CBA Threatens Its Premium

Nov 13 2025 - Australia
3
Australian Banks: Results Season Preview

Oct 30 2025 - Feature Stories
4
CommBank Shares Poised For A Break-Out

Oct 07 2025 - Technicals
5
The Quiet Revolution: How AI And Embedded Finance Are Rewiring Australian Money

Sep 18 2025 - Australia
6
Geopolitical Hedging A Boon For CommBank

Jun 10 2025 - Australia
7
Australian Banks: Expensive Havens

Jun 02 2025 - Feature Stories
8
Australian Banks: Global Sanctuary

May 01 2025 - Australia
9
Bank Of Queensland’s Ambitions Questioned

Apr 23 2025 - Australia
10
Fintech’s Future In Australian Banking

Apr 07 2025 - Australia