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Australian (ASX) Financials Sector Analysis

UpdatedMay 28, 2026
DataAggregated Company Financials
Companies127
  • 7D1.0%
  • 3M-7.6%
  • 1Y1.6%
  • YTD-1.7%

Over the last 7 days, the Financials industry has remained flat, although notably ASX declined by 23%. Furthermore, the industry has been flat for the past year as well. Earnings are forecast to grow by 5.3% annually.

Sector Valuation and Performance

Has the Australian Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 28 May 2026AU$930.2bAU$219.4bAU$48.5b16.3x19.2x4.2x
Sat, 25 Apr 2026AU$964.5bAU$219.1bAU$48.4b15.6x19.9x4.4x
Mon, 23 Mar 2026AU$963.3bAU$218.2bAU$46.6b15.8x20.7x4.4x
Wed, 18 Feb 2026AU$993.3bAU$222.3bAU$46.5b18.3x21.4x4.5x
Fri, 16 Jan 2026AU$935.3bAU$222.6bAU$46.6b19.1x20.1x4.2x
Sun, 14 Dec 2025AU$933.8bAU$222.9bAU$46.7b19.3x20x4.2x
Tue, 11 Nov 2025AU$989.0bAU$223.5bAU$46.9b19.5x21.1x4.4x
Thu, 09 Oct 2025AU$982.2bAU$221.5bAU$48.0b19.5x20.5x4.4x
Sat, 06 Sep 2025AU$973.3bAU$221.9bAU$48.2b19.5x20.2x4.4x
Mon, 04 Aug 2025AU$946.2bAU$220.7bAU$46.6b16.4x20.3x4.3x
Wed, 02 Jul 2025AU$964.4bAU$220.3bAU$46.6b16.7x20.7x4.4x
Fri, 30 May 2025AU$918.2bAU$220.9bAU$46.7b15.6x19.7x4.2x
Sun, 27 Apr 2025AU$873.9bAU$219.7bAU$46.6b14.9x18.7x4x
Tue, 25 Mar 2025AU$842.7bAU$220.4bAU$46.7b14.3x18x3.8x
Thu, 20 Feb 2025AU$930.4bAU$218.5bAU$46.2b17x20.1x4.3x
Sat, 18 Jan 2025AU$889.0bAU$216.3bAU$44.0b18.1x20.2x4.1x
Mon, 16 Dec 2024AU$894.8bAU$215.5bAU$43.9b18.4x20.4x4.2x
Wed, 13 Nov 2024AU$891.9bAU$214.0bAU$43.8b17.9x20.4x4.2x
Fri, 11 Oct 2024AU$842.5bAU$212.1bAU$43.7b18.1x19.3x4x
Sun, 08 Sep 2024AU$859.9bAU$212.2bAU$43.7b16.8x19.7x4.1x
Tue, 06 Aug 2024AU$771.3bAU$211.3bAU$44.2b17.5x17.5x3.6x
Thu, 04 Jul 2024AU$776.9bAU$210.2bAU$44.1b17.8x17.6x3.7x
Sat, 01 Jun 2024AU$750.0bAU$210.2bAU$44.2b17.4x17x3.6x
Mon, 29 Apr 2024AU$732.6bAU$202.3bAU$41.9b18x17.5x3.6x
Wed, 27 Mar 2024AU$758.8bAU$219.2bAU$46.1b17.4x16.5x3.5x
Fri, 23 Feb 2024AU$735.8bAU$215.3bAU$45.7b17.7x16.1x3.4x
Sun, 21 Jan 2024AU$704.0bAU$198.7bAU$45.6b16.6x15.5x3.5x
Tue, 19 Dec 2023AU$681.1bAU$198.3bAU$45.5b16.5x15x3.4x
Thu, 16 Nov 2023AU$649.0bAU$198.8bAU$45.6b16.5x14.2x3.3x
Sat, 14 Oct 2023AU$655.6bAU$198.0bAU$45.8b16.3x14.3x3.3x
Mon, 11 Sep 2023AU$651.8bAU$198.6bAU$45.9b16.6x14.2x3.3x
Wed, 09 Aug 2023AU$659.5bAU$187.5bAU$44.5b19x14.8x3.5x
Fri, 07 Jul 2023AU$621.9bAU$170.9bAU$43.7b17.1x14.2x3.6x
Sun, 04 Jun 2023AU$623.3bAU$187.2bAU$44.6b17x14x3.3x
Price to Earnings Ratio

14x


Total Market Cap: AU$623.3bTotal Earnings: AU$44.6bTotal Revenue: AU$187.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Financials Sector Price to Earnings3Y Average 18.2x202420252026
Current Industry PE
  • Investors are relatively neutral on the Australian Financials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 18.2x.
  • The industry is trading close to its 3-year average PS ratio of 3.9x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 2.8% per year over the last three years.
  • Revenues for these companies have grown 5.4% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Australian Financials sector?

AU Market2.49%
Financials0.96%
Banks1.92%
Consumer Finance1.05%
Diversified Financial1.04%
Mortgage Finance0%0
Mortgage REITs0%0
Capital Markets-1.35%
Insurance-1.40%
Industry PE
  • Investors are most optimistic about the Banks industry which is trading above its 3-year average PE ratio of 17.7x.
    • Analysts are expecting annual earnings growth of 5.7%, which is higher than its past year's earnings decline of 11.7% per year.
  • Investors are most pessimistic about the Diversified Financial industry, which is trading below its 3-year average of 24.8x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 17% over the next 5 years.
  • However this is lower than its past earnings growth rate of 36% per year.
  • In contrast, the Diversified Financial industry is expected to see its earnings decline by 24% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SOL WHSP HoldingsAU$42.681.2%
+AU$197.3m		15.6%PE6.9x
AUB AUB GroupAU$26.135.5%
+AU$177.7m		-25.1%PE18.1x
ARG Argo InvestmentsAU$8.911.4%
+AU$90.6m		0.2%PE25x
HMC HMC CapitalAU$2.996.0%
+AU$70.1m		-40.9%PS5.8x
NGI Navigator Global InvestmentsAU$2.523.3%
+AU$39.3m		51.8%PE19.1x

Latest News

WBC
AU$35.92
Westpac Banking
7D
-1.0%
1Y
13.3%
ASX
AU$45.31
ASX
7D
-24.6%
1Y
-36.9%
AUB
AU$26.13
AUB Group
7D
5.5%
1Y
-25.1%
IAG
AU$7.57
Insurance Australia Group
7D
-7.1%
1Y
-12.9%
Narrative Update • May 26

IAG: Revised Earnings Profile And P E Settings Will Shape Measured Upside

Analysts have adjusted their fair value estimate for Insurance Australia Group from A$8.05 to A$8.32, citing updated assumptions around discount rates, revenue trends and a slightly higher future P/E multiple as the key drivers of the latest price target revision. Analyst Commentary Recent research commentary around Insurance Australia Group has been mixed, with the latest downgrade highlighting both valuation questions and execution risks alongside some support for the refreshed fair value estimate of A$8.32.
ANZ
AU$34.89
ANZ Group Holdings
7D
-1.2%
1Y
20.6%
MQG
AU$236.06
Macquarie Group
7D
-1.7%
1Y
10.5%
FSA
AU$1.35
FSA Group
7D
10.7%
1Y
64.6%
CBA
AU$161.41
Commonwealth Bank of Australia
7D
-1.7%
1Y
-7.5%
NAB
AU$37.10
National Australia Bank
7D
-1.5%
1Y
-1.1%
NGI
AU$2.52
Navigator Global Investments
7D
3.3%
1Y
51.8%
SOL
AU$42.68
WHSP Holdings
7D
1.2%
1Y
15.6%
Narrative Update • May 20

SOL: Higher Interim Dividend Will Sit With Steady Fair Value View

Analysts have kept their fair value estimate for WHSP Holdings steady at A$40.18, with only modest tweaks to inputs such as discount rate, profit margin assumptions and future P/E, helping to refine rather than shift the overall price target view. What's in the News The Board of Washington H.
RPL
AU$2.60
Regal Partners
7D
2.8%
1Y
21.5%
HMC
AU$2.99
HMC Capital
7D
6.0%
1Y
-40.9%
Narrative Update • May 15

HMC: Sector Headwinds And EV Reset May Shape Future Reentry Window

Analysts have trimmed their HMC Capital price target from A$2.80 to A$2.70, reflecting a slightly lower revenue growth outlook and a modestly reduced discount rate, while still expecting higher profit margins and a similar forward P/E profile. Analyst Commentary Bearish analysts are framing the revised A$2.70 price target as a signal that investors should be more selective with HMC Capital exposure, especially given the softer revenue growth outlook embedded in their models.
QBE
AU$22.45
QBE Insurance Group
7D
-6.0%
1Y
-4.3%
AFI
AU$6.58
Australian Foundation Investment
7D
0.5%
1Y
-9.0%
ARG
AU$8.91
Argo Investments
7D
1.4%
1Y
0.2%
Analysis Article • Feb 11

Argo Investments (ASX:ARG) Is Due To Pay A Dividend Of A$0.185

Argo Investments Limited ( ASX:ARG ) will pay a dividend of A$0.185 on the 20th of March. Based on this payment, the...