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Australian (ASX) Diversified Banks Industry Analysis

UpdatedApr 10, 2026
DataAggregated Company Financials
Companies7
  • 7D6.5%
  • 3M14.2%
  • 1Y28.4%
  • YTDn/a

In the last week, the Diversified Banks industry is up 6.5%, with all of the companies up. This takes the industry's 12 month performance to a gain of 28%. Earnings are forecast to grow by 4.2% annually.

Industry Valuation and Performance

Has the Australian Diversified Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 10 Apr 2026AU$712.5bAU$94.3bAU$30.8b19.7x23.1x7.6x
Sun, 08 Mar 2026AU$691.0bAU$94.3bAU$30.8b19.2x22.4x7.3x
Tue, 03 Feb 2026AU$634.8bAU$92.9bAU$30.2b19.2x21x6.8x
Thu, 01 Jan 2026AU$644.1bAU$92.9bAU$30.2b19.1x21.3x6.9x
Sat, 29 Nov 2025AU$614.9bAU$93.0bAU$30.2b18.1x20.3x6.6x
Mon, 27 Oct 2025AU$532.1bAU$70.2bAU$24.4b17.5x21.8x7.6x
Wed, 24 Sep 2025AU$651.3bAU$91.9bAU$31.5b18.8x20.7x7.1x
Fri, 22 Aug 2025AU$659.8bAU$91.9bAU$31.5b18.5x21x7.2x
Sun, 20 Jul 2025AU$640.0bAU$90.9bAU$31.0b16.8x20.7x7x
Tue, 17 Jun 2025AU$625.8bAU$90.9bAU$31.0b16.3x20.2x6.9x
Thu, 15 May 2025AU$587.3bAU$90.9bAU$31.0b15.3x19x6.5x
Sat, 12 Apr 2025AU$548.5bAU$89.6bAU$30.9b14.4x17.7x6.1x
Mon, 10 Mar 2025AU$548.7bAU$89.6bAU$30.9b14.8x17.7x6.1x
Wed, 05 Feb 2025AU$592.4bAU$88.8bAU$30.6b16.2x19.4x6.7x
Fri, 03 Jan 2025AU$571.3bAU$88.8bAU$30.6b15.9x18.7x6.4x
Sun, 01 Dec 2024AU$597.8bAU$88.8bAU$30.6b16.4x19.6x6.7x
Tue, 29 Oct 2024AU$566.7bAU$88.1bAU$30.7b16.4x18.5x6.4x
Thu, 26 Sep 2024AU$549.3bAU$88.1bAU$30.7b16.4x17.9x6.2x
Sat, 24 Aug 2024AU$538.4bAU$88.1bAU$30.7b15.4x17.5x6.1x
Mon, 22 Jul 2024AU$526.4bAU$88.0bAU$30.8b14.9x17.1x6x
Wed, 19 Jun 2024AU$512.2bAU$87.9bAU$30.9b14.4x16.6x5.8x
Fri, 17 May 2024AU$493.5bAU$87.9bAU$30.9b14.2x16x5.6x
Sun, 14 Apr 2024AU$481.7bAU$88.7bAU$32.0b12.5x15x5.4x
Tue, 12 Mar 2024AU$488.7bAU$88.7bAU$32.0b13x15.3x5.5x
Thu, 08 Feb 2024AU$463.0bAU$89.0bAU$32.5b11.8x14.2x5.2x
Sat, 06 Jan 2024AU$445.0bAU$88.9bAU$32.5b11.1x13.7x5x
Mon, 04 Dec 2023AU$414.3bAU$88.9bAU$32.5b10.4x12.7x4.7x
Wed, 01 Nov 2023AU$399.1bAU$87.1bAU$31.8b11.3x12.5x4.6x
Fri, 29 Sep 2023AU$411.8bAU$87.1bAU$31.8b11.5x12.9x4.7x
Sun, 27 Aug 2023AU$405.6bAU$87.2bAU$31.8b11.6x12.7x4.7x
Tue, 25 Jul 2023AU$418.0bAU$87.3bAU$31.7b11.6x13.2x4.8x
Thu, 22 Jun 2023AU$402.7bAU$87.3bAU$31.7b11.1x12.7x4.6x
Sat, 20 May 2023AU$402.0bAU$87.3bAU$31.7b11.2x12.7x4.6x
Mon, 17 Apr 2023AU$409.8bAU$85.5bAU$30.6b12.6x13.4x4.8x
Price to Earnings Ratio

13.4x


Total Market Cap: AU$409.8bTotal Earnings: AU$30.6bTotal Revenue: AU$85.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Diversified Banks Industry Price to Earnings3Y Average 17.3x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Diversified Banks industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 23.1x which is higher than its 3-year average PE of 17.3x.
  • The 3-year average PS ratio of 6.0x is lower than the industry's current PS ratio of 7.6x.
Past Earnings Growth
  • The earnings for companies in the Diversified Banks industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 3.3% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Comparison

How does Australian Diversified Banks compare with similar industries?

AU Market4.44%
Financials6.05%
Banks6.60%
Diversified Banks6.54%
Regional Banks10.18%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
CBA Commonwealth Bank of AustraliaAU$183.386.1%
+AU$17.7b		18.6%PB4x
NAB National Australia BankAU$45.368.5%
+AU$10.9b		36.5%PB2.2x
WBC Westpac BankingAU$42.777.3%
+AU$10.0b		42.4%PB2x
ANZ ANZ Group HoldingsAU$38.846.0%
+AU$6.7b		44.1%PB1.6x
JDO Judo Capital HoldingsAU$1.4912.0%
+AU$179.4m		-10.2%PB1x

Latest News

CBA
AU$183.38
Commonwealth Bank of Australia
7D
6.1%
1Y
18.6%

CBA: Elevated P/E And Margin Risks May Restrain Fully Franked Dividend Appeal

Analysts have trimmed their fair value estimate for Commonwealth Bank of Australia by A$1.27 to A$126.17, reflecting slightly lower assumed future P/E multiples, as well as marginally higher revenue growth and profit margin forecasts under a modestly reduced discount rate. Analyst Commentary Recent valuation work on Commonwealth Bank of Australia sits against a backdrop of broadly constructive research across other financials, where several global insurers have seen higher price targets and, in some cases, rating upgrades.
NAB
AU$45.36
National Australia Bank
7D
8.5%
1Y
36.5%

NAB: Future Earnings Multiple Will Reflect Improved Margin And Revenue Assumptions

Analysts now set their fair value estimate for National Australia Bank at A$50.64, up from A$46.31, reflecting updated views on discount rates, revenue growth, profit margins and future P/E assumptions, even as some firms have recently issued downgrades. Analyst Commentary Recent broker moves on National Australia Bank send a mixed message, with some high profile downgrades from firms like JPMorgan and Morgan Stanley sitting alongside a higher fair value estimate of A$50.64.
JDO
AU$1.49
Judo Capital Holdings
7D
12.0%
1Y
-10.2%

JDO: Future Returns Will Rely On Steady Earnings And Higher P E Assumptions

Analysts have lifted their fair value estimate for Judo Capital Holdings from about A$1.69 to around A$1.73 per share, reflecting updated views on discount rates, revenue growth, profit margins, and future P/E assumptions. Valuation Changes Fair Value: The fair value estimate has moved from A$1.69 to around A$1.73 per share, a small upward adjustment.
WBC
AU$42.77
Westpac Banking
7D
7.3%
1Y
42.4%

WBC: Refined Discount Rate And P/E Assumptions Will Constrain Future Upside

Analysts have nudged their Westpac Banking price target slightly lower to A$35.27 from A$35.33, citing small refinements to the discount rate, revenue growth, profit margin and future P/E assumptions. Analyst Commentary Bullish Takeaways Bullish analysts view the modest cut to the A$35.27 target as a technical clean up after updating discount rate and P/E inputs, rather than a shift in conviction on Westpac Banking's core franchise.
ANZ
AU$38.84
ANZ Group Holdings
7D
6.0%
1Y
44.1%

ANZ: Mixed Broker Views And Payments JV Outcome Will Shape Forward Fairness

The analyst price target for ANZ Group Holdings has shifted slightly lower to around A$37.07. Analysts point to modest adjustments to revenue growth assumptions and the forward P/E multiple, partly offset by a slightly higher profit margin outlook and recent mixed broker views, including a downgrade to Neutral at A$38.14.
BFL
AU$8.00
BSP Financial Group
7D
0.6%
1Y
8.1%
KSL
AU$1.20
Kina Securities
7D
0.4%
1Y
12.2%