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Australian (ASX) Financials Sector Analysis

UpdatedAug 27, 2026
DataAggregated Company Financials
Companies126
  • 7D-1.9%
  • 3M1.5%
  • 1Y-5.3%
  • YTD-1.8%

Over the last 7 days, the Financials industry has dropped 2.0%, driven by Commonwealth Bank of Australia declining 3.3%. The industry has fallen 4.2% in the last year. Looking forward, earnings are forecast to grow by 4.4% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 27 Aug 2026AU$931.1bAU$223.6bAU$49.7b18.9x18.7x4.2x
Sat, 25 Jul 2026AU$982.8bAU$220.0bAU$48.5b17.9x20.2x4.5x
Mon, 22 Jun 2026AU$932.5bAU$219.9bAU$48.5b17x19.2x4.2x
Wed, 20 May 2026AU$931.8bAU$219.5bAU$48.5b15.8x19.2x4.2x
Fri, 17 Apr 2026AU$996.3bAU$219.0bAU$48.5b16.4x20.6x4.5x
Sun, 15 Mar 2026AU$969.6bAU$218.3bAU$46.6b15.9x20.8x4.4x
Tue, 10 Feb 2026AU$956.7bAU$220.8bAU$46.4b18.3x20.6x4.3x
Thu, 08 Jan 2026AU$923.2bAU$222.4bAU$46.6b19.1x19.8x4.2x
Sat, 06 Dec 2025AU$918.8bAU$223.0bAU$46.7b19.5x19.7x4.1x
Mon, 03 Nov 2025AU$983.5bAU$221.9bAU$47.9b19.3x20.5x4.4x
Wed, 01 Oct 2025AU$967.3bAU$221.4bAU$48.2b19.5x20.1x4.4x
Fri, 29 Aug 2025AU$988.1bAU$222.6bAU$47.6b18.9x20.7x4.4x
Sun, 27 Jul 2025AU$933.3bAU$220.1bAU$46.6b16.2x20x4.2x
Tue, 24 Jun 2025AU$944.3bAU$221.2bAU$46.7b15.8x20.2x4.3x
Thu, 22 May 2025AU$915.1bAU$220.8bAU$46.7b15.8x19.6x4.1x
Sat, 19 Apr 2025AU$850.6bAU$219.9bAU$46.7b14.3x18.2x3.9x
Mon, 17 Mar 2025AU$817.4bAU$220.0bAU$46.7b14.1x17.5x3.7x
Wed, 12 Feb 2025AU$929.5bAU$216.3bAU$44.8b17.5x20.7x4.3x
Fri, 10 Jan 2025AU$904.5bAU$216.3bAU$44.1b18.6x20.5x4.2x
Sun, 08 Dec 2024AU$909.6bAU$215.3bAU$43.9b18.3x20.7x4.2x
Tue, 05 Nov 2024AU$866.1bAU$213.3bAU$44.2b17.4x19.6x4.1x
Thu, 03 Oct 2024AU$831.8bAU$211.4bAU$43.6b17.7x19.1x3.9x
Sat, 31 Aug 2024AU$841.2bAU$211.7bAU$43.7b17.7x19.2x4x
Mon, 29 Jul 2024AU$812.4bAU$210.8bAU$44.1b18.3x18.4x3.9x
Wed, 26 Jun 2024AU$791.4bAU$210.2bAU$44.2b17.6x17.9x3.8x
Fri, 24 May 2024AU$759.3bAU$210.3bAU$44.2b17.4x17.2x3.6x
Sun, 21 Apr 2024AU$726.5bAU$219.9bAU$46.2b17.6x15.7x3.3x
Tue, 19 Mar 2024AU$752.7bAU$219.1bAU$46.1b17.4x16.3x3.4x
Thu, 15 Feb 2024AU$723.5bAU$198.4bAU$45.3b17.1x16x3.6x
Sat, 13 Jan 2024AU$700.9bAU$198.4bAU$45.5b16.9x15.4x3.5x
Mon, 11 Dec 2023AU$663.1bAU$198.7bAU$45.5b16.7x14.6x3.3x
Wed, 08 Nov 2023AU$644.7bAU$198.6bAU$45.7b16.4x14.1x3.2x
Fri, 06 Oct 2023AU$649.8bAU$198.0bAU$45.6b16.1x14.3x3.3x
Sun, 03 Sep 2023AU$660.9bAU$198.3bAU$45.9b16.6x14.4x3.3x
Price to Earnings Ratio

14.4x


Total Market Cap: AU$660.9bTotal Earnings: AU$45.9bTotal Revenue: AU$198.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Financials Sector Price to Earnings3Y Average 18.6x202420252026
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 18.6x.
  • The industry is trading close to its 3-year average PS ratio of 4.0x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 2.9% per year over the last three years.
  • Revenues for these companies have grown 4.1% 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 Market0.76%
Financials-1.88%
Consumer Finance2.38%
Mortgage Finance0%0
Mortgage REITs0%0
Capital Markets-0.38%
Diversified Financial-1.87%
Insurance-1.94%
Banks-2.32%
Industry PE
  • Investors are most optimistic about the Capital Markets industry, which is trading close to its 3-year average PE ratio of 21.8x.
    • Analysts are expecting annual earnings growth of 7.7%, which is lower than the prior year's growth of 10.0% per year.
  • Investors are most pessimistic about the Diversified Financial industry, which is trading below its 3-year average of 21.8x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 15% over the next 5 years.
  • This is better than its past earnings growth rate of 12% per year.
  • In contrast, the Diversified Financial industry is expected to see its earnings decline by 22% 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
SUN Suncorp GroupAU$19.234.8%
+AU$932.8m		-9.6%PE19.8x
L1G L1 GroupAU$1.369.2%
+AU$288.9m		n/aPE23.5x
MFG Magellan Financial GroupAU$11.056.7%
+AU$201.9m		7.0%PE23.1x
SDF Steadfast GroupAU$5.832.6%
+AU$164.7m		-6.0%PE24x
CCL CuscalAU$5.7810.7%
+AU$111.9m		59.7%PE27x

Latest News

SUN
AU$19.23
Suncorp Group
7D
4.8%
1Y
-9.6%
BEN
AU$10.55
Bendigo and Adelaide Bank
7D
1.4%
1Y
-21.1%
SDF
AU$5.83
Steadfast Group
7D
2.6%
1Y
-6.0%
HMC
AU$3.26
HMC Capital
7D
9.0%
1Y
-15.3%
CCL
AU$5.78
Cuscal
7D
10.7%
1Y
59.7%
IAG
AU$7.77
Insurance Australia Group
7D
-4.5%
1Y
-10.6%
L1G
AU$1.36
L1 Group
7D
9.2%
1Y
n/a
LFG
AU$3.47
Liberty Financial Group
7D
7.8%
1Y
-21.1%
MPL
AU$4.79
Medibank Private
7D
-4.8%
1Y
-7.0%
QBE
AU$21.80
QBE Insurance Group
7D
-3.8%
1Y
2.7%
WBC
AU$33.83
Westpac Banking
7D
-1.8%
1Y
-12.1%
MQG
AU$252.77
Macquarie Group
7D
-0.6%
1Y
12.1%
CBA
AU$155.46
Commonwealth Bank of Australia
7D
-3.3%
1Y
-8.5%
Narrative Update • Aug 18

CBA: Elevated P/E Will Confront Softer Revenue Outlook And Mortgage Headwinds

Analysts have lifted the Commonwealth Bank of Australia price target from about A$122.57 to A$125.21. This reflects updated assumptions around a slightly higher profit margin, modestly different revenue growth expectations, a small change in the discount rate and a marginally lower future P/E.
NAB
AU$38.26
National Australia Bank
7D
-1.7%
1Y
-8.8%
ANZ
AU$36.95
ANZ Group Holdings
7D
-1.8%
1Y
10.7%
Narrative Update • Aug 14

ANZ: Margin Execution And Deposit Momentum Will Shape Mortgage And Wealth Outlook

Analysts have raised their price target on ANZ Group Holdings to A$36.43 from A$35.55, citing updated assumptions that include a modestly different discount rate, slightly softer revenue growth expectations, a small uplift in profit margin forecasts and a higher future P/E multiple. Analyst Commentary Recent commentary around ANZ Group Holdings focuses on how updated assumptions feed into the revised A$36.43 price target.
MFG
AU$11.05
Magellan Financial Group
7D
6.7%
1Y
7.0%