Stock WBC WESTPAC BANKING CORPORATION
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Financials Westpac Banking Corporation

Equities

WBC

AU000000WBC1

Banks

Market Closed - Australian S.E.
Other stock markets
 02:10:43 2024-04-26 am EDT 		5-day change 1st Jan Change
25.69 AUD -1.91% Intraday chart for Westpac Banking Corporation +0.75% +12.18%
Apr. 24 Westpac Abandons Bid to Sell RAMS Home Loans CI
Apr. 23 AB Foods lifts outlook as interim profit soars AN

Valuation

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 103,239 60,722 95,271 72,158 74,103 89,094 - -
Enterprise Value (EV) 1 103,239 60,722 95,271 72,158 74,103 89,094 89,094 89,094
P/E ratio 15.1 x 26.4 x 18.9 x 12.9 x 10.3 x 14.3 x 14.1 x 13.3 x
Yield 5.87% 1.84% 4.54% 6.06% 6.71% 5.6% 5.62% 5.71%
Capitalization / Revenue 5 x 2.94 x 4.53 x 3.8 x 3.42 x 4.16 x 4.07 x 3.96 x
EV / Revenue 5 x 2.94 x 4.53 x 3.8 x 3.42 x 4.16 x 4.07 x 3.96 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.56 x 0.89 x 1.32 x 1.14 x 1.02 x 1.23 x 1.21 x 1.18 x
Nbr of stocks (in thousands) 3,483,095 3,605,822 3,664,269 3,496,051 3,503,681 3,468,026 - -
Reference price 2 29.64 16.84 26.00 20.64 21.15 25.69 25.69 25.69
Announcement Date 11/3/19 11/1/20 10/31/21 11/6/22 11/5/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 20,655 20,626 21,038 19,001 21,645 21,437 21,897 22,499
EBITDA - - - - - - - -
EBIT 1 10,624 7,926 7,755 8,210 10,953 10,474 10,647 11,013
Operating Margin 51.44% 38.43% 36.86% 43.21% 50.6% 48.86% 48.62% 48.95%
Earnings before Tax (EBT) 1 9,749 4,266 8,501 8,469 10,305 9,474 9,185 9,741
Net income 1 6,784 2,290 5,458 5,694 7,195 6,487 6,355 6,696
Net margin 32.84% 11.1% 25.94% 29.97% 33.24% 30.26% 29.02% 29.76%
EPS 2 1.965 0.6370 1.378 1.599 2.050 1.791 1.827 1.936
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1.740 0.3100 1.180 1.250 1.420 1.439 1.444 1.467
Announcement Date 11/3/19 11/1/20 10/31/21 11/6/22 11/5/23 - - -
1AUD in Million2AUD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 Q1 2022 S1 2022 S2 2023 S1 2023 S2 2024 S1 2024 S2 2025 S1 2025 S2 2026 S1
Net sales 1 10,552 10,341 10,285 10,799 10,239 5,056 9,959 9,042 11,003 10,642 10,642 10,729 10,759 10,844 10,543
EBITDA - - - - - - - - - - - - - - -
EBIT 1 5,562 4,181 3,745 4,818 2,937 2,359 4,593 3,617 6,015 4,938 5,218 5,206 5,354 5,399 -
Operating Margin 52.71% 40.43% 36.41% 44.62% 28.68% 46.66% 46.12% 40% 54.67% 46.4% 49.04% 48.52% 49.77% 49.78% -
Earnings before Tax (EBT) 1 5,194 2,185 2,081 5,061 3,440 2,628 4,718 3,751 5,625 4,680 4,609 4,572 4,499 - -
Net income 1 3,611 1,190 1,100 3,443 2,015 1,815 3,280 2,414 4,001 3,194 3,210 3,195 3,147 - -
Net margin 34.22% 11.51% 10.7% 31.88% 19.68% 35.9% 32.94% 26.7% 36.36% 30.01% 30.17% 29.78% 29.25% - -
EPS 1.042 0.3320 0.3050 0.9450 0.5320 - 0.9050 0.6900 1.142 0.9080 0.9180 0.9285 0.9035 0.9000 -
Dividend per Share 0.8000 - 0.3100 0.5800 0.6000 - 0.6100 0.6400 0.7000 0.7200 0.7250 0.7275 0.7500 - -
Announcement Date 11/3/19 5/3/20 11/1/20 5/3/21 10/31/21 2/3/22 5/8/22 11/6/22 5/7/23 11/5/23 - - - - -
1AUD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 10.8% 3.83% 7.7% 8.1% 10.1% 9.1% 8.94% 9.28%
ROA (Net income/ Total Assets) 0.77% 0.25% 0.59% 0.58% 0.7% 0.61% 0.6% 0.61%
Assets 1 884,600 908,730 923,988 975,000 1,027,857 1,056,821 1,067,099 1,096,972
Book Value Per Share 2 19.00 18.90 19.70 18.10 20.70 20.90 21.30 21.80
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 11/3/19 11/1/20 10/31/21 11/6/22 11/5/23 - - -
1AUD in Million2AUD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Westpac Banking Corporation

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
14
Last Close Price
25.69 AUD
Average target price
23.84 AUD
Spread / Average Target
-7.21%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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