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Australian (ASX) Banks Industry Analysis

UpdatedJul 27, 2026
DataAggregated Company Financials
Companies14
  • 7D1.3%
  • 3M-0.5%
  • 1Y6.6%
  • YTD1.3%

Over the last 7 days, the Banks industry has risen 1.3%, driven by gains from Commonwealth Bank of Australia of 1.3%. In the last 12 months, the industry was up 6.6%. Looking forward, earnings are forecast to grow by 5.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 27 Jul 2026AU$668.8bAU$98.3bAU$30.0b17.5x22.3x6.8x
Wed, 24 Jun 2026AU$637.8bAU$98.3bAU$30.0b16.6x21.2x6.5x
Fri, 22 May 2026AU$636.9bAU$98.3bAU$30.0b15.5x21.2x6.5x
Sun, 19 Apr 2026AU$695.9bAU$98.1bAU$30.9b16.4x22.5x7.1x
Tue, 17 Mar 2026AU$703.4bAU$98.1bAU$30.9b15.7x22.8x7.2x
Thu, 12 Feb 2026AU$690.6bAU$97.5bAU$30.5b19.5x22.6x7.1x
Sat, 10 Jan 2026AU$635.3bAU$96.7bAU$30.3b18.6x21x6.6x
Mon, 08 Dec 2025AU$636.3bAU$96.7bAU$30.3b18.6x21x6.6x
Wed, 05 Nov 2025AU$691.0bAU$96.0bAU$31.4b17.7x22x7.2x
Fri, 03 Oct 2025AU$673.5bAU$95.6bAU$31.7b15.4x21.2x7x
Sun, 31 Aug 2025AU$667.0bAU$95.6bAU$31.7b15.3x21x7x
Tue, 29 Jul 2025AU$630.3bAU$94.5bAU$31.8b14.4x19.8x6.7x
Thu, 26 Jun 2025AU$665.7bAU$94.6bAU$31.8b15.1x20.9x7x
Sat, 24 May 2025AU$617.1bAU$94.6bAU$31.8b14x19.4x6.5x
Mon, 21 Apr 2025AU$580.2bAU$93.3bAU$31.7b12.7x18.3x6.2x
Wed, 19 Mar 2025AU$546.2bAU$93.2bAU$31.7b12.2x17.2x5.9x
Fri, 14 Feb 2025AU$635.3bAU$93.1bAU$31.7b14.4x20x6.8x
Sun, 12 Jan 2025AU$594.6bAU$92.5bAU$31.4b13.8x18.9x6.4x
Tue, 10 Dec 2024AU$605.7bAU$92.5bAU$31.4b13.8x19.3x6.5x
Thu, 07 Nov 2024AU$584.7bAU$92.2bAU$31.8b12.9x18.4x6.3x
Sat, 05 Oct 2024AU$541.7bAU$91.8bAU$31.5b11.9x17.2x5.9x
Mon, 02 Sep 2024AU$565.8bAU$91.8bAU$31.6b12.5x17.9x6.2x
Wed, 31 Jul 2024AU$546.7bAU$91.7bAU$31.6b11.4x17.3x6x
Fri, 28 Jun 2024AU$516.6bAU$91.7bAU$31.6b10.3x16.3x5.6x
Sun, 26 May 2024AU$495.5bAU$91.6bAU$31.8b10.6x15.6x5.4x
Tue, 23 Apr 2024AU$477.2bAU$92.4bAU$32.9b11x14.5x5.2x
Thu, 21 Mar 2024AU$490.3bAU$92.5bAU$32.7b10.7x15x5.3x
Sat, 17 Feb 2024AU$483.1bAU$92.5bAU$32.8b10.5x14.7x5.2x
Mon, 15 Jan 2024AU$459.2bAU$92.8bAU$33.2b8.2x13.8x4.9x
Wed, 13 Dec 2023AU$436.3bAU$92.8bAU$33.2b8x13.1x4.7x
Fri, 10 Nov 2023AU$426.0bAU$92.5bAU$33.3b8x12.8x4.6x
Sun, 08 Oct 2023AU$422.1bAU$91.0bAU$32.6b8x12.9x4.6x
Tue, 05 Sep 2023AU$427.0bAU$91.0bAU$32.6b8.3x13.1x4.7x
Thu, 03 Aug 2023AU$428.4bAU$91.0bAU$32.4b8.4x13.2x4.7x
Price to Earnings Ratio

13.2x


Total Market Cap: AU$428.4bTotal Earnings: AU$32.4bTotal Revenue: AU$91.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Banks Industry Price to Earnings3Y Average 18.2x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Banks industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 22.3x which is higher than its 3-year average PE of 18.2x.
  • The 3-year average PS ratio of 6.1x is lower than the industry's current PS ratio of 6.8x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have declined 2.5% per year 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, which has decreased profits.

Industry Trends

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

AU Market-0.36%
Financials0.47%
Banks1.32%
Diversified Banks1.33%
Regional Banks0.70%
Industry PE
  • Investors are most optimistic about the Regional Banks industry which is trading above its 3-year average PE ratio of 51.5x.
    • Analysts are expecting annual earnings growth of 27.2%, which is higher than its past year's earnings decline of 49.1% per year.
  • Investors are most pessimistic about the Diversified Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 18.1x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings decline of 49% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 4.6% 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
CBA Commonwealth Bank of AustraliaAU$176.072.8%
+AU$8.1b		0.7%PB3.8x
NAB National Australia BankAU$40.943.1%
+AU$3.9b		8.4%PB2.1x
WBC Westpac BankingAU$37.682.8%
+AU$3.5b		13.5%PB1.8x
ANZ ANZ Group HoldingsAU$36.892.1%
+AU$2.3b		21.7%PB1.6x
BEN Bendigo and Adelaide BankAU$11.013.3%
+AU$202.5m		-9.8%PB1x

Latest News

MYS
AU$4.90
MyState
7D
1.2%
1Y
16.4%
CBA
AU$176.07
Commonwealth Bank of Australia
7D
2.8%
1Y
0.7%
JDO
AU$0.93
Judo Capital Holdings
7D
-3.1%
1Y
-38.9%
Narrative Update • Jul 16

JDO: Future Upside Will Depend On Stabilising Credit Costs And P/E Assumptions

Analysts have lowered their A$ price target for Judo Capital Holdings, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E, while keeping the overall thesis intact. What's in the News Judo Capital Holdings lowered its FY26 profit before tax guidance to a range of A$163 million to A$169 million, reflecting updated expectations for its earnings outlook.
ANZ
AU$36.89
ANZ Group Holdings
7D
2.1%
1Y
21.7%
New Narrative • Jul 11

Is ANZ Holding Your Interest?

At A$32.162 per share, ANZ (ASX: ANZ) appears reasonably valued based on its current operating performance. Cash earnings per share were 126.1 cents for the six months to 31 March 2026; annualising this figure implies approximately 252 cents per share and a price-to-earnings multiple of around 12.8 times.
KSL
AU$1.24
Kina Securities
7D
-0.4%
1Y
-6.8%
WBC
AU$37.68
Westpac Banking
7D
2.8%
1Y
13.5%
BEN
AU$11.01
Bendigo and Adelaide Bank
7D
3.3%
1Y
-9.8%
NAB
AU$40.94
National Australia Bank
7D
3.1%
1Y
8.4%
BOQ
AU$6.48
Bank of Queensland
7D
1.4%
1Y
-13.5%
Narrative Update • Jun 18

BOQ: Share Price Recovery And Capital Returns Will Balance Earnings Pressures

Analysts have made a small trim to their Bank of Queensland price target, edging fair value from A$6.33 to A$6.31 as they factor in updated assumptions for discount rates, revenue growth, profit margins and future P/E multiples. What’s in the News for Bank of Queensland Bank of Queensland shares recently recovered after touching a fresh 52 week low, with the stock holding around the A$6 level as investors weighed earnings headwinds and capital plans.
BFL
AU$8.16
BSP Financial Group
7D
-0.2%
1Y
-6.1%
BBC
AU$0.25
BNK Banking
7D
4.2%
1Y
-5.7%