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Australian (ASX) Financials Sector Analysis

UpdatedAug 02, 2026
DataAggregated Company Financials
Companies127
  • 7D1.4%
  • 3M3.5%
  • 1Y5.0%
  • YTD5.1%

Over the last 7 days, the Financials industry has risen 1.4%, driven by gains from Commonwealth Bank of Australia of 2.0%. This takes the industry's 12 month performance to a gain of 5.0%. Looking forward, earnings are forecast to grow by 4.6% annually.

Sector Valuation and Performance

Has the Australian Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 03 Aug 2026AU$996.8bAU$219.8bAU$48.5b17.7x20.5x4.5x
Wed, 01 Jul 2026AU$943.0bAU$220.5bAU$48.6b16.5x19.4x4.3x
Fri, 29 May 2026AU$915.6bAU$219.5bAU$48.5b16.2x18.9x4.2x
Sun, 26 Apr 2026AU$964.4bAU$219.0bAU$48.4b15.6x19.9x4.4x
Tue, 24 Mar 2026AU$957.5bAU$218.3bAU$46.6b16.1x20.6x4.4x
Thu, 19 Feb 2026AU$999.8bAU$222.4bAU$45.9b18.8x21.8x4.5x
Sat, 17 Jan 2026AU$944.6bAU$222.6bAU$46.6b19.4x20.3x4.2x
Mon, 15 Dec 2025AU$933.8bAU$222.9bAU$46.7b19.3x20x4.2x
Wed, 12 Nov 2025AU$970.5bAU$223.6bAU$46.8b19.4x20.8x4.3x
Fri, 10 Oct 2025AU$978.4bAU$221.4bAU$48.0b19.4x20.4x4.4x
Sun, 07 Sep 2025AU$973.3bAU$221.9bAU$48.2b19.5x20.2x4.4x
Tue, 05 Aug 2025AU$941.4bAU$220.6bAU$46.6b16.3x20.2x4.3x
Thu, 03 Jul 2025AU$964.2bAU$220.1bAU$46.6b16.5x20.7x4.4x
Sat, 31 May 2025AU$924.8bAU$221.0bAU$46.7b15.8x19.8x4.2x
Mon, 28 Apr 2025AU$873.9bAU$219.7bAU$46.6b14.9x18.7x4x
Wed, 26 Mar 2025AU$843.4bAU$220.2bAU$46.7b14.2x18.1x3.8x
Fri, 21 Feb 2025AU$877.4bAU$217.7bAU$46.3b16.1x18.9x4x
Sun, 19 Jan 2025AU$889.0bAU$216.3bAU$44.0b18.1x20.2x4.1x
Tue, 17 Dec 2024AU$895.4bAU$215.5bAU$43.9b18.5x20.4x4.2x
Thu, 14 Nov 2024AU$882.6bAU$214.1bAU$43.8b18x20.1x4.1x
Sat, 12 Oct 2024AU$842.2bAU$212.0bAU$43.7b18.1x19.3x4x
Mon, 09 Sep 2024AU$859.8bAU$212.6bAU$43.7b16.8x19.7x4x
Wed, 07 Aug 2024AU$777.6bAU$211.2bAU$44.1b17.5x17.6x3.7x
Fri, 05 Jul 2024AU$786.6bAU$209.9bAU$44.0b17.2x17.9x3.7x
Sun, 02 Jun 2024AU$750.0bAU$210.2bAU$44.2b17.4x17x3.6x
Tue, 30 Apr 2024AU$737.1bAU$202.1bAU$41.9b17.8x17.6x3.6x
Thu, 28 Mar 2024AU$762.7bAU$219.4bAU$46.1b17.6x16.5x3.5x
Sat, 24 Feb 2024AU$740.4bAU$216.2bAU$45.9b17.9x16.1x3.4x
Mon, 22 Jan 2024AU$704.0bAU$198.7bAU$45.6b16.6x15.5x3.5x
Wed, 20 Dec 2023AU$686.5bAU$198.1bAU$45.5b16.7x15.1x3.5x
Fri, 17 Nov 2023AU$649.0bAU$198.9bAU$45.6b16.4x14.2x3.3x
Sun, 15 Oct 2023AU$655.6bAU$198.1bAU$45.5b16.4x14.4x3.3x
Tue, 12 Sep 2023AU$659.7bAU$198.4bAU$45.9b16.8x14.4x3.3x
Thu, 10 Aug 2023AU$667.0bAU$189.3bAU$44.8b17.7x14.9x3.5x
Price to Earnings Ratio

14.9x


Total Market Cap: AU$667.0bTotal Earnings: AU$44.8bTotal Revenue: AU$189.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Financials Sector Price to Earnings3Y Average 18.5x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Financials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 20.5x which is higher than its 3-year average PE of 18.5x.
  • The 3-year average PS ratio of 4.0x is lower than the industry's current PS ratio of 4.5x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 2.9% per year over the last three years.
  • Revenues for these companies have grown 5.4% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

AU Market1.96%
Financials1.42%
Banks2.14%
Consumer Finance1.12%
Diversified Financial0.17%
Mortgage Finance0%0
Mortgage REITs0%0
Capital Markets-0.11%
Insurance-0.25%
Industry PE
  • Investors are most optimistic about the Banks industry which is trading above its 3-year average PE ratio of 18.2x.
    • Analysts are expecting annual earnings growth of 5.0%, which is higher than its past year's earnings decline of 5.5% per year.
  • Investors are most pessimistic about the Diversified Financial industry, which is trading below its 3-year average of 22.0x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 16% over the next 5 years.
  • However this is lower than its past earnings growth rate of 36% per year.
  • In contrast, the Diversified Financial industry is expected to see its earnings decline by 23% 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$177.532.0%
+AU$5.9b		1.4%PB3.8x
NAB National Australia BankAU$41.332.3%
+AU$2.9b		7.5%PB2.1x
ANZ ANZ Group HoldingsAU$37.312.3%
+AU$2.5b		20.9%PB1.6x
WBC Westpac BankingAU$37.872.0%
+AU$2.5b		13.2%PB1.8x
BEN Bendigo and Adelaide BankAU$11.466.5%
+AU$405.0m		-6.2%PB1x

Latest News

IAG
AU$8.49
Insurance Australia Group
7D
-0.7%
1Y
-2.5%
CBA
AU$177.53
Commonwealth Bank of Australia
7D
2.0%
1Y
1.4%
NAB
AU$41.33
National Australia Bank
7D
2.3%
1Y
7.5%
ANZ
AU$37.31
ANZ Group Holdings
7D
2.3%
1Y
20.9%
WBC
AU$37.87
Westpac Banking
7D
2.0%
1Y
13.2%
L1G
AU$1.03
L1 Group
7D
-4.2%
1Y
n/a
MQG
AU$253.09
Macquarie Group
7D
-0.8%
1Y
18.4%
CGF
AU$9.81
Challenger
7D
-6.0%
1Y
19.9%
New Narrative • Jul 28

Aging Population And APRA Reforms Will Support Long-Term Retirement Income Upside

Catalysts About Challenger Challenger focuses on guaranteed retirement income products and related investment and reinsurance solutions. What are the underlying business or industry changes driving this perspective?
AFI
AU$6.84
Australian Foundation Investment
7D
-1.4%
1Y
-10.4%
QBE
AU$24.73
QBE Insurance Group
7D
-0.5%
1Y
8.0%
Narrative Update • Jul 27

QBE: Recent Share Price Strength Will Likely Cap Near-Term Upside

Analysts have lowered the QBE Insurance Group fair value estimate to A$17.29 from A$17.79, reflecting a slightly more balanced risk-reward view following recent share price strength and a shift in ratings toward Hold, even as the published price target was raised to A$27.50 from A$26.25. What's in the News for QBE Insurance Group QBE Insurance Group appointed Munich Re veteran Alistair Nappin as Head of Outward Reinsurance to lead risk transfer across the UK, Europe, and Asia, with a focus on reinsurance strategy execution and balance sheet protection against large scale losses (source: recent news reports).
SOL
AU$46.23
WHSP Holdings
7D
1.7%
1Y
14.7%
SDF
AU$5.11
Steadfast Group
7D
-1.7%
1Y
-13.8%
HUB
AU$85.21
HUB24
7D
4.7%
1Y
-20.2%
Narrative Update • Jul 02

HUB: Adviser Migration And Platform Scale Will Support Future Return Profile

Analysts have trimmed their HUB24 fair value estimate from A$105.97 to A$99.34, reflecting slightly softer assumptions for revenue growth, profit margins and future P/E multiples in their updated price target work. What’s in the News for HUB24 HUB24 reported H1 FY2026 results with Group Underlying NPAT up 60% and operating revenue up 26%, supported by reported growth in Funds Under Administration to A$151.7b as at 31 March 2026, according to recent coverage.
BEN
AU$11.46
Bendigo and Adelaide Bank
7D
6.5%
1Y
-6.2%
BOQ
AU$6.64
Bank of Queensland
7D
4.2%
1Y
-12.4%
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$7.88
BSP Financial Group
7D
-4.0%
1Y
-6.2%