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Australian (ASX) Banks Industry Analysis

UpdatedJun 08, 2026
DataAggregated Company Financials
Companies15
  • 7D-2.7%
  • 3M-10.1%
  • 1Y-3.3%
  • YTD-6.1%

Over the last 7 days, the Banks industry has dropped 2.7%, driven by a pullback from Commonwealth Bank of Australia of 2.5%. Overall the industry is down 3.3% in 12 months. Looking forward, earnings are forecast to grow by 5.5% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 08 Jun 2026AU$619.2bAU$98.3bAU$30.0b15.5x20.6x6.3x
Wed, 06 May 2026AU$661.9bAU$98.0bAU$29.9b15.8x22.1x6.8x
Fri, 03 Apr 2026AU$679.9bAU$98.2bAU$30.9b15.2x22x6.9x
Sun, 01 Mar 2026AU$725.5bAU$98.1bAU$30.9b17.4x23.5x7.4x
Tue, 27 Jan 2026AU$638.9bAU$96.7bAU$30.3b19.1x21.1x6.6x
Thu, 25 Dec 2025AU$658.6bAU$96.7bAU$30.3b19.2x21.7x6.8x
Sat, 22 Nov 2025AU$627.3bAU$96.8bAU$30.3b18.3x20.7x6.5x
Mon, 20 Oct 2025AU$541.1bAU$74.0bAU$24.5b16.1x22.1x7.3x
Wed, 17 Sep 2025AU$665.8bAU$95.6bAU$31.7b15x21x7x
Fri, 15 Aug 2025AU$637.7bAU$95.4bAU$32.1b14.8x19.9x6.7x
Sun, 13 Jul 2025AU$646.2bAU$94.5bAU$31.8b15.1x20.3x6.8x
Tue, 10 Jun 2025AU$638.4bAU$94.6bAU$31.8b15.1x20.1x6.8x
Thu, 08 May 2025AU$602.3bAU$93.6bAU$31.5b13.6x19.1x6.4x
Sat, 05 Apr 2025AU$566.2bAU$93.3bAU$31.7b12.3x17.9x6.1x
Mon, 03 Mar 2025AU$584.2bAU$93.3bAU$31.7b13.5x18.4x6.3x
Wed, 29 Jan 2025AU$612.4bAU$92.5bAU$31.4b13.9x19.5x6.6x
Fri, 27 Dec 2024AU$588.8bAU$92.5bAU$31.4b13.9x18.7x6.4x
Sun, 24 Nov 2024AU$619.4bAU$92.5bAU$31.4b14.1x19.7x6.7x
Tue, 22 Oct 2024AU$585.4bAU$91.8bAU$31.6b12.8x18.5x6.4x
Thu, 19 Sep 2024AU$584.7bAU$91.9bAU$31.6b12.6x18.5x6.4x
Sat, 17 Aug 2024AU$550.4bAU$91.7bAU$31.3b12.1x17.6x6x
Mon, 15 Jul 2024AU$535.8bAU$91.7bAU$31.6b11x16.9x5.8x
Wed, 12 Jun 2024AU$515.8bAU$91.7bAU$31.8b10.7x16.2x5.6x
Fri, 10 May 2024AU$492.1bAU$91.7bAU$31.8b10.7x15.5x5.4x
Sun, 07 Apr 2024AU$496.3bAU$92.5bAU$32.7b11.1x15.2x5.4x
Tue, 05 Mar 2024AU$497.5bAU$92.5bAU$32.7b11x15.2x5.4x
Thu, 01 Feb 2024AU$478.7bAU$92.8bAU$33.2b8.4x14.4x5.2x
Sat, 30 Dec 2023AU$454.4bAU$92.8bAU$33.2b8.1x13.7x4.9x
Mon, 27 Nov 2023AU$421.4bAU$92.8bAU$33.2b7.9x12.7x4.5x
Wed, 25 Oct 2023AU$414.8bAU$91.0bAU$32.5b7.9x12.8x4.6x
Fri, 22 Sep 2023AU$419.4bAU$91.0bAU$32.6b8x12.9x4.6x
Sun, 20 Aug 2023AU$414.8bAU$91.0bAU$32.6b8.4x12.7x4.6x
Tue, 18 Jul 2023AU$417.8bAU$91.0bAU$32.4b8.3x12.9x4.6x
Thu, 15 Jun 2023AU$396.9bAU$91.0bAU$32.4b8.2x12.2x4.4x
Price to Earnings Ratio

12.2x


Total Market Cap: AU$396.9bTotal Earnings: AU$32.4bTotal Revenue: AU$91.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Banks Industry Price to Earnings3Y Average 17.8x202420252026
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 20.6x which is higher than its 3-year average PE of 17.8x.
  • The industry is trading close to its 3-year average PS ratio of 6.0x.
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-1.23%
Financials-2.03%
Banks-2.66%
Diversified Banks-2.65%
Regional Banks-2.77%
Industry PE
  • Investors are most optimistic about the Regional Banks industry which is trading above its 3-year average PE ratio of 44.4x.
    • Analysts are expecting annual earnings growth of 27.3%, which is higher than its past year's earnings decline of 38.5% 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 17.8x.
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 38% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 5.1% 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
BFL BSP Financial GroupAU$8.400.5%
+AU$18.7m		12.0%PB2.3x
KSL Kina SecuritiesAU$1.351.5%
+AU$5.9m		11.6%PB1.7x
BBC BNK BankingAU$0.242.1%
+AU$593.9k		-18.6%PB0.2x

Latest News

CBA
AU$160.90
Commonwealth Bank of Australia
7D
-2.5%
1Y
-10.6%
Narrative Update • Jun 07

CBA: Premium P/E Will Face Pressure From Housing And Lending Headwinds

Narrative Update on Commonwealth Bank of Australia Analysts have nudged their price target for Commonwealth Bank of Australia slightly higher to A$142.26 from A$142.00, reflecting updated assumptions on discount rate, revenue growth, profit margin and future P/E, rather than any major shift in outlook. Analyst Commentary The modest adjustment to the A$142.26 price target for Commonwealth Bank of Australia reflects fine tuning of valuation inputs rather than a shift in the overall stance on the stock.
ANZ
AU$34.12
ANZ Group Holdings
7D
-3.1%
1Y
15.7%
BEN
AU$10.12
Bendigo and Adelaide Bank
7D
-2.1%
1Y
-20.6%
Narrative Update • Jun 05

BEN: Future Returns Will Reflect Fair Pricing And Slightly Softer Profitability Assumptions

Analysts have trimmed their price target for Bendigo and Adelaide Bank slightly to A$10.68 from A$10.82, reflecting updated assumptions for revenue growth, profit margins, the discount rate and future P/E levels. What's in the News No recent news items, periodical coverage or key developments were provided for Bendigo and Adelaide Bank in the supplied sources.
BOQ
AU$6.02
Bank of Queensland
7D
-3.8%
1Y
-25.0%
Narrative Update • Jun 04

BOQ: Equipment Finance Sale Uncertainty Will Shape Dividends And Future Returns

Analysts have trimmed their price target for Bank of Queensland to A$6.33 from A$6.49, citing updated assumptions that indicate more moderate revenue growth, slightly lower profit margins and a higher future P/E multiple. What's in the News Bank of Queensland declared an ordinary dividend of A$0.20 per share for the six months ended 28 February 2026, with an ex date of 5 April 2026, a record date of 5 May 2026 and a payment date of 27 May 2026.
JDO
AU$1.43
Judo Capital Holdings
7D
-3.4%
1Y
-4.0%
Narrative Update • Jun 02

JDO: Future Returns Will Depend On Stable Margins And Measured P/E Assumptions

Analysts have kept their A$1.60 price target for Judo Capital Holdings steady, citing broadly unchanged assumptions on discount rate, revenue growth, profit margin and future P/E as the basis for holding the line on valuation. What's in the News No recent news stories, periodical coverage, or key developments were provided for Judo Capital Holdings in the supplied sources.
WBC
AU$34.81
Westpac Banking
7D
-3.3%
1Y
4.9%
NAB
AU$36.59
National Australia Bank
7D
-2.0%
1Y
-5.2%
KSL
AU$1.35
Kina Securities
7D
1.5%
1Y
11.6%
MYS
AU$4.36
MyState
7D
-2.2%
1Y
-0.5%
Narrative Update • Apr 24

MYS: Stable Dividend Outlook Will Support Future Upside Potential

Analysts have maintained their A$5.26 price target on MyState, noting broadly stable views on fair value, discount rate, revenue growth, profit margins and future P/E assumptions. What's in the News MyState Limited declared an ordinary dividend of A$0.12 per security for the six months ended December 31, 2025, giving investors clarity on upcoming income timing (Key Developments).
BFL
AU$8.40
BSP Financial Group
7D
0.5%
1Y
12.0%
BBC
AU$0.24
BNK Banking
7D
2.1%
1Y
-18.6%