ANZ Group Holdings Limited

ASX:ANZ Stock Report

Market Cap: AU$110.8b

ANZ Group Holdings Future Growth

Future criteria checks 1/6

ANZ Group Holdings is forecast to grow earnings and revenue by 8.3% and 4% per annum respectively. EPS is expected to grow by 7.6% per annum. Return on equity is forecast to be 10.6% in 3 years.

Key information

8.3%

Earnings growth rate

7.63%

EPS growth rate

Banks earnings growth5.6%
Revenue growth rate4.0%
Future return on equity10.55%
Analyst coverage

Good

Last updated06 May 2026

Recent future growth updates

No updates

Recent updates

Narrative Update • Apr 26

ANZ: Mixed Broker Views And Merchant Venture Outcome Will Guide Future Balance

ANZ Group Holdings' analyst fair value estimate has shifted slightly lower to A$36.66 from A$37.07, as analysts factor in updated assumptions for discount rates, revenue growth, profit margins, and a marginally lower future P/E multiple, following mixed recent broker views including a downgrade to Neutral with an A$38.14 price target. Analyst Commentary Recent research shows a mix of optimism and caution around ANZ Group Holdings, which is feeding directly into updated fair value work and price targets.
Narrative Update • Apr 10

ANZ: Mixed Broker Views And Payments JV Review Will Shape Forward Balance

Narrative Update on ANZ Group Holdings The analyst price target for ANZ Group Holdings has been adjusted marginally to A$37.07 from A$37.07 as analysts factor in slightly lower revenue growth and profit margin assumptions, along with a modestly reduced discount rate and a small uptick in future P/E, following mixed recent research views including a Neutral stance with an A$38.14 target. Analyst Commentary Recent research on ANZ Group Holdings shows a mix of optimism and caution, with some analysts adjusting ratings and targets as they reassess the balance between growth prospects, revenue headwinds and current valuation.
Narrative Update • Mar 27

ANZ: Mixed Broker Views And Payments JV Outcome Will Shape Forward Fairness

The analyst price target for ANZ Group Holdings has shifted slightly lower to around A$37.07. Analysts point to modest adjustments to revenue growth assumptions and the forward P/E multiple, partly offset by a slightly higher profit margin outlook and recent mixed broker views, including a downgrade to Neutral at A$38.14.
Narrative Update • Mar 13

ANZ: Regulatory Fines And Earnings Quality Will Shape Forward Fairness

Narrative Update on ANZ Group Holdings The analyst fair value estimate for ANZ Group Holdings has edged up by A$0.05 to A$37.60, with analysts citing slightly higher assumed revenue growth and a modestly lower discount rate as key inputs behind the revised price target. Analyst Commentary Recent analyst discussion around ANZ Group Holdings has centered on how valuation stacks up against execution risks and earnings quality, even though most of the detailed rating and target moves available relate to a different stock.
Narrative Update • Feb 26

ANZ: Regulatory Penalties And Earnings Assumptions Will Shape Future Fairness

Narrative Update on ANZ Group Holdings Analysts have lifted their fair value estimate for ANZ Group Holdings to A$37.55 from A$35.92, citing modest adjustments to revenue growth, profit margin assumptions, and a slightly higher forward P/E multiple in their refreshed models. Analyst Commentary Recent research updates on large listed companies point to a mixed backdrop, with some analysts lifting price targets and others trimming them or turning more cautious.
Narrative Update • Feb 09

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.
Narrative Update • Jan 24

ANZ: Regulatory Penalties And Earnings Assumptions Will Shape Future Performance

Narrative update on ANZ Group Holdings Analysts have lifted their fair value estimate for ANZ Group Holdings by A$0.67 to A$35.88, citing slightly lower assumed discount rates, a modest adjustment to revenue growth, a small uplift in profit margin expectations, and a higher forward P/E multiple. Analyst Commentary Recent analyst commentary on ANZ Group Holdings, while not directly referenced in the street research items provided, helps frame how the higher fair value estimate can fit into a broader debate around valuation, growth expectations, and execution risk.
Narrative Update • Jan 09

ANZ: Regulatory Penalties And Governance Changes Will Shape Resilient Future Performance

Analysts have nudged their price target for ANZ Group Holdings slightly lower to about A$35.21 from A$35.24, reflecting updated views on discount rates, revenue growth, profit margins and future P/E assumptions. Analyst Commentary Analysts are using the updated A$35.21 price target to refine how they think about ANZ Group Holdings on both the upside and downside, with views anchored in discount rate assumptions, revenue trends, profit margins and future P/E expectations.
Narrative Update • Dec 15

ANZ: Cost Discipline And Capital Returns Will Support Resilient Future Performance

Analysts have modestly increased their price target for ANZ Group Holdings by approximately $0.07, citing slightly stronger long term revenue growth expectations and a marginally lower discount rate that more than offset a flat profit margin outlook and only a small uptick in the assumed future P/E multiple. Analyst Commentary Street research sentiment around ANZ Group Holdings appears cautiously constructive, with recent valuation tweaks reflecting a balance between supportive macro trends and pockets of execution risk.
Narrative Update • Nov 27

ANZ: Profit Margins And Cost Controls Will Drive Performance Amid Sector Challenges

Analysts have increased their price target for ANZ Group Holdings to $35.17 from $34.24, citing improved profit margins and expectations for continued operational efficiency, even though revenue growth forecasts are slightly slower. Analyst Commentary Recent research updates reflect a mix of optimism and caution regarding ANZ Group Holdings' prospects.
Narrative Update • Nov 07

ANZ: Earnings Stability And Cost Pressures Will Shape Performance Ahead

Analysts have raised the fair value estimate for ANZ Group Holdings slightly to $34.24 from $33.91. They cited stable profit margins, a marginally higher discount rate, and updated industry comparisons supporting the adjustment.
Narrative Update • Oct 24

Cost Cuts And Efficiency Moves Will Improve Margins Despite Near-Term Uncertainty

Analysts have raised their price target for ANZ Group Holdings from $31.71 to $33.91 per share. They cite improved profit margins and a brighter long-term outlook, despite slightly lower revenue growth projections.
Narrative Update • Oct 10

Suncorp Acquisition And AI Initiatives Will Improve Future Efficiency And Customer Engagement

Analysts have raised their price target for ANZ Group Holdings from $31.23 to $31.71. They cited small improvements in profit margin and a slightly lower discount rate as factors supporting the increased valuation.
Narrative Update • Sep 26

Suncorp Acquisition And AI Initiatives Will Improve Future Efficiency And Customer Engagement

With no material changes in either future P/E (16.04x) or consensus revenue growth (4.7%), ANZ Group Holdings’ fair value estimate was only marginally increased, with the analyst price target rising slightly from A$30.87 to A$31.23. What's in the News ANZ has reached an agreement with ASIC to resolve five regulatory matters, incurring total penalties of $240 million relating to Treasury Bond execution, inaccurate bond data reporting, failure to pay acquisition bonus interest, mishandling customer hardship notices, and breaches concerning deceased estates.
Narrative Update • Sep 11

Suncorp Acquisition And AI Initiatives Will Improve Future Efficiency And Customer Engagement

The consensus price target for ANZ Group Holdings was raised primarily due to a slight improvement in net profit margin, with fair value now at A$30.87. What's in the News ANZ Group Holdings is reportedly considering bidding for HSBC’s Australian retail banking arm, which could be sold for several billion dollars and includes approximately $40 billion of loans and $30 billion of deposits.
Narrative Update • Aug 27

Suncorp Acquisition And AI Initiatives Will Improve Future Efficiency And Customer Engagement

The upward revision in ANZ Group Holdings’ price target is primarily underpinned by modest improvements in forecast revenue growth and a slightly higher forward P/E multiple, resulting in a new consensus analyst price target of A$29.51. What's in the News ANZ Group Holdings is reportedly among potential bidders for HSBC's Australian retail banking business, which is expected to sell for billions of dollars.
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New Narrative • Nov 24

Innovation In Digital Banking And Calculated Acquisitions Boost Growth And Margins

Successful Suncorp acquisition and platform innovations expected to enhance revenue, market share, and net margins through increased efficiency and cost savings.

Earnings and Revenue Growth Forecasts

ASX:ANZ - Analysts future estimates and past financials data (AUD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
9/30/202823,8818,061N/AN/A12
9/30/202723,3157,804N/AN/A12
9/30/202622,6557,438N/AN/A12
3/31/202621,5165,899-17,626-17,626N/A
12/31/202521,6315,895-20,960-20,960N/A
9/30/202521,7455,891-24,295-24,295N/A
6/30/202521,4236,331-24,721-24,721N/A
3/31/202521,1006,770-25,147-25,147N/A
12/31/202420,6216,653-28,570-28,570N/A
9/30/202420,1416,535-31,993-31,993N/A
6/30/202420,2086,736-27,821-27,821N/A
3/31/202420,2756,937-23,650-23,650N/A
12/31/202320,2517,022-19,381-19,381N/A
9/30/202320,2267,106-15,113-15,113N/A
6/30/202320,0427,143-15,057-15,057N/A
3/31/202319,8587,179-15,001-15,001N/A
12/31/202219,7587,159-21,852-21,852N/A
9/30/202219,6587,138-28,703-28,703N/A
6/30/202219,3076,951-22,137-22,137N/A
3/31/202218,9556,763-15,571-15,571N/A
12/31/202118,4716,471-10,322-10,322N/A
9/30/202117,9876,179-5,074-5,074N/A
6/30/202117,2635,5851,2091,209N/A
3/31/202116,5394,9917,4927,492N/A
12/31/202015,7194,3333,9513,951N/A
9/30/202014,8993,675409409N/A
6/30/202015,6044,182-9,299-9,299N/A
3/31/202016,3084,688-19,007-19,007N/A
12/31/201917,1505,492N/A-15,281N/A
9/30/201917,9916,296N/A-11,556N/A
6/30/201918,2256,356N/A-7,111N/A
3/31/201918,3686,415N/A-1,920N/A
12/31/201818,8326,755N/A-1,780N/A
9/30/201819,2967,095N/A-1,641N/A
6/30/201819,1797,214N/A-5,974N/A
3/31/201819,1537,333N/A-11,054N/A
12/31/201718,6776,839N/A-8,955N/A
9/30/201718,2006,344N/A-6,857N/A
6/30/201718,1626,125N/A-5,612N/A
3/31/201718,1235,905N/A-4,368N/A
12/31/201618,3705,807N/A-8,327N/A
9/30/201618,6175,709N/A-12,287N/A
6/30/201619,1036,217N/A-9,512N/A
3/31/201619,5886,725N/A-6,737N/A
12/31/201519,7507,109N/A7,370N/A
9/30/201519,9117,492N/A21,476N/A
6/30/201519,8337,437N/A20,876N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ANZ's forecast earnings growth (8.3% per year) is above the savings rate (3.6%).

Earnings vs Market: ANZ's earnings (8.3% per year) are forecast to grow slower than the Australian market (12% per year).

High Growth Earnings: ANZ's earnings are forecast to grow, but not significantly.

Revenue vs Market: ANZ's revenue (4% per year) is forecast to grow slower than the Australian market (6.4% per year).

High Growth Revenue: ANZ's revenue (4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ANZ's Return on Equity is forecast to be low in 3 years time (10.6%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/09 02:52
End of Day Share Price 2026/05/08 00:00
Earnings2026/03/31
Annual Earnings2025/09/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

ANZ Group Holdings Limited is covered by 24 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nicholas McGarrigleBarrenjoey Markets Pty Limited
Craig StaffordBarrenjoey Markets Pty Limited
Jonathan MottBarrenjoey Markets Pty Limited