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Australian (ASX) Diversified Banks Industry Analysis

UpdatedFeb 16, 2026
DataAggregated Company Financials
Companies7
  • 7D8.1%
  • 3M10.7%
  • 1Y13.3%
  • YTDn/a

In the last week, the Diversified Banks industry is up 8.1%, with Commonwealth Bank of Australia up 11%. This means that the industry has gained 13% over the past year. As for the next few years, earnings are expected to grow by 4.2% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Sun, 30 Apr 2023AU$413.3bAU$85.5bAU$30.6b12.8x13.5x4.8x
Tue, 28 Mar 2023AU$391.5bAU$85.5bAU$30.6b12.1x12.8x4.6x
Thu, 23 Feb 2023AU$420.5bAU$85.5bAU$30.6b13.3x13.8x4.9x
Price to Earnings Ratio

13.8x


Total Market Cap: AU$420.5bTotal Earnings: AU$30.6bTotal Revenue: AU$85.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Diversified Banks Industry Price to Earnings3Y Average 16.9x202420252026
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 16.9x.
  • The 3-year average PS ratio of 5.9x is lower than the industry's current PS ratio of 7.5x.
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 3.1% 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 Market2.05%
Financials5.06%
Banks7.96%
Diversified Banks8.06%
Regional Banks2.66%
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$176.2010.9%
+AU$28.9b		6.5%PB3.8x
ANZ ANZ Group HoldingsAU$40.8910.5%
+AU$11.7b		30.7%PB1.7x
NAB National Australia BankAU$46.016.1%
+AU$8.1b		12.2%PB2.2x
WBC Westpac BankingAU$40.522.8%
+AU$3.7b		16.7%PB1.9x
BFL BSP Financial GroupAU$8.471.0%
+AU$37.4m		20.8%PB2.5x

Latest News

CBA
AU$176.20
Commonwealth Bank of Australia
7D
10.9%
1Y
6.5%

Commonwealth Bank of Australia (ASX:CBA) Has Announced A Dividend Of A$2.35

Feb 16
Commonwealth Bank of Australia (ASX:CBA) Has Announced A Dividend Of A$2.35
WBC
AU$40.52
Westpac Banking
7D
2.8%
1Y
16.7%

WBC: Higher P/E Assumptions Will Limit Future Share Price Upside

Analysts have raised their price target for Westpac Banking to A$35.31 from A$33.86, reflecting updated assumptions around revenue growth, profit margin and future P/E. What's in the News Shareholders approved an amendment to Westpac Banking Corporation's constitution at the annual general meeting held on December 11, 2025 (Key Developments).
KSL
AU$1.24
Kina Securities
7D
0.8%
1Y
7.8%
ANZ
AU$40.89
ANZ Group Holdings
7D
10.5%
1Y
30.7%

ANZ: Regulatory Penalties And Earnings Assumptions Will Guide Future Outcomes

Analysts have made a small upward adjustment to their fair value estimate for ANZ Group Holdings, lifting the implied price target from about A$35.88 to roughly A$35.92. This reflects updated assumptions around discount rate, revenue growth, profit margins and future P/E, which are similar in spirit to recent sector research where modest target changes are tied to refined earnings and return expectations rather than a major shift in outlook.
BFL
AU$8.47
BSP Financial Group
7D
1.0%
1Y
20.8%
NAB
AU$46.01
National Australia Bank
7D
6.1%
1Y
12.2%

NAB: Governance Changes Will Signal Overvaluation Risk Despite Higher Fair Value Estimate

Analysts have nudged their price target for National Australia Bank higher to A$39.23 from A$38.75, citing updated assumptions for revenue growth, profit margins, and a slightly revised P/E outlook. What's in the News Shareholders approved an amendment to National Australia Bank's constitution at the AGM held on 12 December 2025, signaling governance changes that investors may want to review in the meeting materials (Key Developments).
JDO
AU$1.80
Judo Capital Holdings
7D
-1.9%
1Y
-6.5%

JDO: Future Outlook Will Emphasise Steady Earnings With Slightly Higher Required Returns

Analysts have slightly raised their price target for Judo Capital Holdings to A$1.69 from A$1.67, pointing to modest adjustments in fair value, discount rate, revenue growth, profit margin and future P/E assumptions as key drivers of the change. Valuation Changes Fair Value: Adjusted slightly from A$1.67 to A$1.69 per share.