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Australian (ASX) Diversified Banks Industry Analysis

UpdatedMay 25, 2026
DataAggregated Company Financials
Companies7
  • 7D2.9%
  • 3M-11.8%
  • 1Y4.0%
  • YTDn/a

In the last week, the Diversified Banks industry is up 2.9%, with Commonwealth Bank of Australia leading the way, up 2.4%. This means that the industry has gained 4.0% over the past year. As for the next few years, earnings are expected to grow by 5.3% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 26 May 2026AU$630.4bAU$94.4bAU$29.9b17.8x21.1x6.7x
Thu, 23 Apr 2026AU$665.6bAU$94.2bAU$30.8b17.4x21.6x7.1x
Sat, 21 Mar 2026AU$688.2bAU$94.3bAU$30.8b18.7x22.3x7.3x
Mon, 16 Feb 2026AU$703.2bAU$93.8bAU$30.5b20.7x23.1x7.5x
Wed, 14 Jan 2026AU$636.1bAU$92.9bAU$30.2b19x21x6.8x
Fri, 12 Dec 2025AU$625.4bAU$92.9bAU$30.2b18.6x20.7x6.7x
Sun, 09 Nov 2025AU$675.4bAU$92.3bAU$31.1b19.3x21.7x7.3x
Tue, 07 Oct 2025AU$662.3bAU$91.9bAU$31.5b19x21x7.2x
Thu, 04 Sep 2025AU$634.1bAU$91.9bAU$31.5b18x20.1x6.9x
Sat, 02 Aug 2025AU$622.4bAU$90.9bAU$31.0b16.4x20.1x6.9x
Mon, 30 Jun 2025AU$638.2bAU$90.9bAU$31.0b16.6x20.6x7x
Wed, 28 May 2025AU$608.7bAU$90.9bAU$31.0b15.6x19.7x6.7x
Fri, 25 Apr 2025AU$583.5bAU$89.6bAU$30.9b15.2x18.9x6.5x
Sun, 23 Mar 2025AU$542.9bAU$89.6bAU$30.9b14.4x17.6x6.1x
Tue, 18 Feb 2025AU$612.4bAU$89.4bAU$30.9b16.3x19.8x6.8x
Thu, 16 Jan 2025AU$569.2bAU$88.8bAU$30.6b15.6x18.6x6.4x
Sat, 14 Dec 2024AU$582.1bAU$88.8bAU$30.6b15.8x19x6.6x
Mon, 11 Nov 2024AU$582.5bAU$88.8bAU$30.5b15.8x19.1x6.6x
Wed, 09 Oct 2024AU$540.8bAU$88.1bAU$30.7b15.8x17.6x6.1x
Fri, 06 Sep 2024AU$561.9bAU$88.1bAU$30.7b16.1x18.3x6.4x
Sun, 04 Aug 2024AU$524.8bAU$88.0bAU$30.8b15.3x17x6x
Tue, 02 Jul 2024AU$506.7bAU$88.0bAU$30.8b14.4x16.5x5.8x
Thu, 30 May 2024AU$480.5bAU$87.9bAU$30.9b13.8x15.5x5.5x
Sat, 27 Apr 2024AU$470.2bAU$77.9bAU$27.9b13.9x16.9x6x
Mon, 25 Mar 2024AU$487.5bAU$88.7bAU$32.0b12.8x15.2x5.5x
Wed, 21 Feb 2024AU$477.4bAU$88.7bAU$32.1b12.6x14.9x5.4x
Fri, 19 Jan 2024AU$445.7bAU$89.0bAU$32.5b11.1x13.7x5x
Sun, 17 Dec 2023AU$437.3bAU$88.9bAU$32.5b10.9x13.4x4.9x
Tue, 14 Nov 2023AU$411.6bAU$88.6bAU$32.6b10.4x12.6x4.6x
Thu, 12 Oct 2023AU$415.6bAU$87.1bAU$31.8b11.7x13.1x4.8x
Sat, 09 Sep 2023AU$411.2bAU$87.2bAU$31.8b11.6x12.9x4.7x
Mon, 07 Aug 2023AU$415.6bAU$87.3bAU$31.7b11.7x13.1x4.8x
Wed, 05 Jul 2023AU$407.3bAU$87.3bAU$31.7b11.2x12.8x4.7x
Fri, 02 Jun 2023AU$388.3bAU$87.3bAU$31.7b10.9x12.2x4.4x
Price to Earnings Ratio

12.2x


Total Market Cap: AU$388.3bTotal Earnings: AU$31.7bTotal Revenue: AU$87.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Diversified Banks Industry Price to Earnings3Y Average 17.7x202420252026
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 21.1x which is higher than its 3-year average PE of 17.7x.
  • The industry is trading close to its 3-year average PS ratio of 6.1x.
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 2.6% 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 Market0.078%
Financials1.91%
Banks2.87%
Diversified Banks2.90%
Regional Banks1.14%
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$164.602.4%
+AU$6.5b		-5.3%PB3.6x
NAB National Australia BankAU$38.285.4%
+AU$6.0b		2.4%PB1.9x
WBC Westpac BankingAU$36.773.0%
+AU$3.6b		17.7%PB1.8x
ANZ ANZ Group HoldingsAU$35.772.0%
+AU$2.1b		24.8%PB1.5x
JDO Judo Capital HoldingsAU$1.392.6%
+AU$39.2m		-2.5%PB0.9x

Latest News

CBA
AU$164.60
Commonwealth Bank of Australia
7D
2.4%
1Y
-5.3%
NAB
AU$38.28
National Australia Bank
7D
5.4%
1Y
2.4%
WBC
AU$36.77
Westpac Banking
7D
3.0%
1Y
17.7%
Narrative Update • May 16

WBC: Higher Risk Assumptions And Dividend Outlook Will Shape Future Upside

Analysts have reduced their Westpac Banking price target from about A$34.87 to roughly A$34.15, reflecting updated views on discount rates, revenue growth, profit margins and future P/E assumptions. Analyst Commentary Analysts are updating their views on Westpac Banking with a mixed tone, focusing on how current assumptions around discount rates, revenue trends, profit margins and future P/E multiples feed into the updated valuation.
JDO
AU$1.39
Judo Capital Holdings
7D
2.6%
1Y
-2.5%
Narrative Update • May 14

JDO: Future Returns Will Rely On Solid Margins And Supportive P/E Multiple

Analysts now place their average price target for Judo Capital Holdings at A$1.60, broadly in line with the prior A$1.60. This reflects updated assumptions for discount rates, revenue growth, profit margins and future P/E that are only modestly different from earlier estimates.
ANZ
AU$35.77
ANZ Group Holdings
7D
2.0%
1Y
24.8%
Narrative Update • May 13

ANZ: Mixed Broker Views And Merchant Venture Review Will Shape Outlook

Narrative Update on ANZ Group Holdings The analyst price target for ANZ Group Holdings has been adjusted slightly lower to A$36.20 from A$36.66 as analysts factor in a higher discount rate, a modestly higher future P/E assumption, and recent mixed views on revenue trends and valuation following a downgrade to Neutral and a separate upgrade in coverage. Analyst Commentary Recent research on ANZ Group reflects a split view, with some analysts more constructive on the stock following a rating upgrade and others turning cautious after a downgrade tied to revenue trends and valuation.
KSL
AU$1.35
Kina Securities
7D
3.1%
1Y
18.4%
BFL
AU$8.25
BSP Financial Group
7D
-2.4%
1Y
10.0%