ANZ Group Holdings (AU:ANZ)
ASX:ANZ
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ANZ Group Holdings
(Sydney:ANZ)
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Rating:70Outperform
Price Target:
AU$43.00
▲(8.89% Upside)
Action:ReiteratedDate:12/11/25
ANZ Group Holdings' overall stock score is driven by strong financial performance, particularly in cash flow management and operational efficiency. The technical analysis suggests a neutral trend with potential overbought conditions, while the valuation is fair with an attractive dividend yield. The absence of earnings call data and corporate events does not impact the score.
Positive Factors
Strong free cash flow generation
ANZ reports consistently high free cash flow and strong operating cash flow relative to net income. Durable cash generation supports reinvestment, dividend capacity and balance-sheet repair over multiple quarters, reducing reliance on volatile market funding sources.
Negative Factors
Elevated leverage relative to peers
ANZ's leverage remains elevated despite improvement, constraining balance-sheet flexibility. Higher debt levels increase sensitivity to funding costs and regulatory capital demands, limiting room for large capital returns or aggressive lending expansion without deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
ANZ reports consistently high free cash flow and strong operating cash flow relative to net income. Durable cash generation supports reinvestment, dividend capacity and balance-sheet repair over multiple quarters, reducing reliance on volatile market funding sources.
Read all positive factors
ANZ Group Holdings (ANZ) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$110.73B
Dividend Yield4.53%
Average Volume (3M)5.41M
Price to Earnings (P/E)7.4
Beta (1Y)1.26
Revenue Growth-5.34%
EPS Growth-13.04%
CountryAU
Employees43,094
SectorFinancial
Sector Strength70
IndustryBanks - Diversified
Share Statistics
EPS (TTM)1.98
Shares Outstanding3,014,198,700
10 Day Avg. Volume4,921,800
30 Day Avg. Volume5,408,936
Financial Highlights & Ratios
PEG Ratio-1.83
Price to Book (P/B)1.39
Price to Sales (P/S)1.46
P/FCF Ratio3.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$35.63Price Target Upside-9.76% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)2.47
Revenue Forecast (FY)AU$22.58B
ANZ Group Holdings Business Overview & Revenue Model
Company Description
Australia and New Zealand Banking Group Limited provides various banking and financial products and services in Australia and internationally. Its Australia Retail division offers home and personal loans, deposits, and credit cards through the bra...
How the Company Makes Money
ANZ generates revenue primarily through interest income, which comes from lending activities in retail and commercial banking. The bank earns interest from loans provided to personal and business customers, which is a significant revenue stream. A...
ANZ Group Holdings Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 63.54B | 67.44B | 64.92B | 53.52B | 27.74B | 23.21B |
| Gross Profit | 20.81B | 22.31B | 20.36B | 20.28B | 18.94B | 17.83B |
| EBITDA | 10.01B | 9.80B | 10.46B | 10.77B | 10.84B | 10.63B |
| Net Income | 5.90B | 5.89B | 6.54B | 7.10B | 7.12B | 6.16B |
Balance Sheet | ||||||
| Total Assets | 1.31T | 1.30T | 1.23T | 1.11T | 1.09T | 978.86B |
| Cash, Cash Equivalents and Short-Term Investments | 174.28B | 122.72B | 112.99B | 146.44B | 157.53B | 141.89B |
| Total Debt | 259.27B | 219.82B | 303.64B | 150.08B | 134.00B | 212.82B |
| Total Liabilities | 1.24T | 1.23T | 1.16T | 1.04T | 1.02T | 915.18B |
| Stockholders Equity | 71.05B | 71.13B | 69.86B | 69.52B | 65.91B | 63.66B |
Cash Flow | ||||||
| Free Cash Flow | 18.03B | 26.11B | 9.95B | 5.88B | 19.52B | 43.81B |
| Operating Cash Flow | 19.06B | 26.11B | 9.95B | 6.49B | 20.18B | 43.82B |
| Investing Cash Flow | -54.25B | -23.94B | -42.12B | -10.69B | -1.82B | 10.26B |
| Financing Cash Flow | 12.31B | 612.00M | 17.91B | 4.38B | -2.35B | -9.67B |
ANZ Group Holdings Technical Analysis
Positive
39.49
Price Trends
38.03
Negative
36.99
Positive
34.89
Positive
Market Momentum
0.19
Negative
52.60
Neutral
58.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:ANZ, the sentiment is Positive. The current price of 39.49 is above the 20-day moving average (MA) of 37.28, above the 50-day MA of 38.03, and above the 200-day MA of 34.89, indicating a neutral trend. The MACD of 0.19 indicates Negative momentum. The RSI at 52.60 is Neutral, neither overbought nor oversold. The STOCH value of 58.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:ANZ.
ANZ Group Holdings Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | AU$110.73B | 7.39 | 8.30% | 4.53% | -5.34% | -13.04% | |
70 Outperform | AU$294.09B | 12.51 | 13.27% | 3.00% | 0.93% | 5.97% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
61 Neutral | AU$127.89B | 9.87 | 9.55% | 3.90% | -3.87% | 1.20% | |
57 Neutral | AU$6.17B | 6.45 | -1.25% | 5.99% | -2.90% | -117.39% | |
56 Neutral | AU$87.44B | 15.81 | 10.75% | 3.27% | -12.60% | 30.24% | |
54 Neutral | AU$117.34B | 11.52 | 9.88% | 4.00% | -8.10% | -10.70% |
* Financial Sector Average
AU:ANZ
ANZ Group Holdings
36.79
9.02
32.47%
AU:BEN
Bendigo & Adelaide Bank
10.67
-0.49
-4.36%
AU:MQG
Macquarie Group Limited
239.23
38.30
19.06%
AU:NAB
National Australia Bank Limited
38.36
4.12
12.02%
AU:WBC
Westpac Banking
37.44
7.55
25.27%
AU:CBA
Commonwealth Bank of Australia
175.91
13.44
8.28%
ANZ Group Holdings Corporate Events
ANZ Ends Former CEO Remuneration Dispute Without Payment
Feb 24, 2026
ANZ Group Holdings has moved to close a potential source of governance overhang, announcing that former chief executive Shayne Elliott has discontinued his legal action over 2025 remuneration outcomes. The bank emphasised that the matter was resol...
ANZ raises A$1bn in subordinated notes to bolster regulatory capital
Feb 23, 2026
Australia and New Zealand Banking Group Limited will issue A$1 billion of subordinated notes, split between A$725 million floating rate and A$275 million fixed-to-floating rate tranches maturing in February 2037, under its Australian dollar debt i...
ANZ Board Veteran Graham Hodges to Retire After Three-Year Non-Executive Term
Feb 6, 2026
ANZ Group Holdings has announced that Non-Executive Director Graham Hodges will retire from the boards of Australia and New Zealand Banking Group Limited and ANZ BH Pty Ltd on 8 February 2026, at the conclusion of his three-year term. Hodges joine...
ANZ to Redeem A$1.25bn Subordinated Notes in February 2026
Jan 27, 2026
Australia and New Zealand Banking Group Limited will redeem its A$1.25 billion wholesale floating rate subordinated notes, originally due in February 2031, on the optional redemption date of 26 February 2026 after receiving written approval from t...
ANZ Corrects Administrative Error in Securities Forfeiture Disclosure
Jan 14, 2026
ANZ Group Holdings Limited has issued an updated notification to the ASX correcting an earlier administrative error in its disclosure on the cessation of securities. The bank clarified that the correct number of units forfeited under the relevant ...
ANZ Updates Capital Structure Following Cessation of ANZAA Options
Jan 14, 2026
ANZ Group Holdings has notified the market of the cessation of 1,529 ANZAA options/rights, effective 22 November 2025, as part of an update to its issued capital. The change, disclosed via an Appendix 3H filing, reflects a minor adjustment to ANZ&...
ANZ Group Reports Cessation of Small Tranche of Options
Jan 14, 2026
ANZ Group Holdings Limited has notified the cessation of 3,776 options/rights (ASX code ANZAA), which lapsed on 22 November 2025 for reasons classified as ‘Other’. The change, disclosed via an Appendix 3H filing, represents a minor adj...
ANZ Group Updates Market on Cessation of ANZAA Options
Jan 14, 2026
ANZ Group Holdings Limited has notified the market of the cessation of 21,444 options/rights securities, listed under the ASX code ANZAA, effective 22 November 2025. The cessation of these securities, recorded in an Appendix 3H filing, reflects a ...
ANZ Group Notifies Market of Cessation of ANZAA Options/Rights
Jan 14, 2026
ANZ Group Holdings Limited has notified the market of the cessation of a tranche of its ANZAA options/rights securities, with 902 such securities having lapsed or otherwise ceased as of 22 November 2025. The adjustment to its issued capital struct...
ANZ Group Reports Cessation of 3,854 Options Under ANZAA Code
Jan 14, 2026
ANZ Group Holdings Limited has notified the market of the cessation of 3,854 options/rights securities, classified under the ASX code ANZAA, effective 22 November 2025. The move, disclosed via an Appendix 3H filing, reflects a minor adjustment to ...
ANZ Updates Capital Structure With Cessation of 2,917 Options
Jan 14, 2026
ANZ Group Holdings Limited has notified the cessation of 2,917 options/rights (ASX code ANZAA), effective 22 November 2025, as part of an update to its issued capital. The change reflects a minor adjustment to ANZ’s capital structure and has...
ANZ Group Updates Issued Capital as ANZAA Options Lapse
Jan 14, 2026
ANZ Group Holdings has notified the market of the cessation of 4,977 options/rights securities, identified under the ASX code ANZAA, effective 22 November 2025. The cessation, disclosed via an Appendix 3H filing on 14 January 2026, reflects a mino...
ANZ Group Announces Cessation of 64,693 Options/Rights
Jan 14, 2026
ANZ Group Holdings Limited has notified the ASX of the cessation of 64,693 ANZAA options/rights, effective 22 November 2025, under an Appendix 3H filing. The change relates to the company’s issued capital structure and reflects routine adjus...
ANZ Issues 20,638 New Ordinary Shares From Conversion of Unquoted Securities
Jan 12, 2026
ANZ Group Holdings has notified the ASX of the issue of 20,638 ordinary fully paid shares following the exercise or conversion of previously unquoted equity securities. The modest increase in ordinary shares reflects routine capital management act...
ANZ Group Reports Lapse of 6,621 Conditional Rights
Jan 12, 2026
ANZ Group Holdings Limited has notified the market that 6,621 options or rights (ASX code ANZAA) have lapsed after the conditions attached to these instruments were not satisfied or became incapable of being met as of 12 December 2025. The cessati...
ANZ Director Paul O’Sullivan Increases Indirect Shareholding via On‑Market Purchase
Jan 11, 2026
ANZ Group Holdings has disclosed a change in the relevant interests of director Paul Dominic O’Sullivan, who increased his indirect holding in ANZ ordinary shares through an on‑market purchase. O’Sullivan acquired 3,300 ANZ ordin...
ANZ Issues 1.7 Million Unquoted Options Under Employee Incentive Plan
Dec 23, 2025
ANZ Group Holdings Limited has notified the market of the issue of 1,718,365 unquoted options/rights under its employee incentive scheme, with an issue date of 18 December 2025. The move reflects the bank’s ongoing use of equity-based remune...
ANZ Grants Equity-Based Rights to Director Nuno Matos Following AGM Approval
Dec 23, 2025
ANZ Group Holdings has disclosed a change in director Nuno Matos’s interests, with the grant of 141,897 options over unissued ANZ ordinary shares, comprising 70,949 Restricted Rights and 70,948 Performance Rights. The award, approved by shar...
ANZ Director Scott St John Increases Indirect Shareholding via On-Market Purchase
Dec 23, 2025
ANZ Group Holdings has disclosed a change in director Scott Andrew St John’s indirect shareholding, with his custodian FNZ Custodians Limited acquiring 250 ANZ ordinary shares on-market at $36.40 per share on 22 December 2025. The transactio...
ANZ Issues 141,897 Unquoted Options Under Employee Incentive Scheme
Dec 19, 2025
ANZ Group Holdings Limited has notified the market of the issue of 141,897 unquoted options/rights under its employee incentive scheme, using ASX security code ANZAA, effective 19 December 2025. The additional unquoted equity aims to support ANZ&#...
ANZ Hit with $250m in Penalties as Court Finalises ASIC Settlement
Dec 19, 2025
ANZ Group Holdings has had its previously agreed settlement with the Australian Securities and Investments Commission finalised by the Federal Court, resulting in total civil penalties of $250 million relating to five regulatory matters in its Aus...
ANZ Seeks ASX Quotation for Over 2 Million New Shares Issued via Distribution Plan
Dec 19, 2025
ANZ Group Holdings Limited has applied to the ASX for quotation of 2,007,267 new ordinary fully paid shares, issued on 19 December 2025 under a dividend or distribution plan. The additional securities modestly increase ANZ’s listed share cap...
ANZ Seeks ASX Quotation for 26.3 Million New Shares Issued Under Dividend Plan
Dec 19, 2025
ANZ Group Holdings Limited has applied to the ASX for quotation of 26,331,058 new fully paid ordinary shares, to be issued on 19 December 2025 under a dividend or distribution plan. The additional stock issuance modestly expands ANZ’s share ...
ANZ Wraps 2025 AGM with Board Changes and Key Resolutions
Dec 18, 2025
ANZ Group Holdings Limited concluded its 2025 Annual General Meeting, announcing the successful election and re-election of board members as well as the approval of key resolutions, including the adoption of the Remuneration Report, which generate...
ANZ Releases 2025 AGM Presentation and Proxy Summary
Dec 17, 2025
ANZ Group Holdings Limited, a prominent financial institution, has released the presentation and proxy summary from its 2025 Annual General Meeting. This release signifies the company’s commitment to shareholder transparency and adherence to...
ANZ Unveils Transformative Strategy at 2025 AGM
Dec 17, 2025
ANZ Group Holdings used its 2025 Annual General Meeting to outline the CEO’s strategic vision under the ANZ 2030 agenda, which aims to prioritize customer focus, simplify operations, enhance resilience, and deliver sustained value. Key actio...
ANZ’s 2025 AGM Highlights Leadership Change and Strategic Transformation
Dec 17, 2025
ANZ Group Holdings highlighted key developments during its 2025 Annual General Meeting, including the introduction of its new CEO, Nuno Matos, who brings decades of global banking expertise. Under his leadership, ANZ has launched its 2030 strategy...
ANZ Faces Legal Action from Former CEO Over Remuneration
Dec 12, 2025
ANZ Group Holdings Limited is addressing a legal action initiated by its former CEO, Shayne Elliott, concerning remuneration outcomes for the 2025 financial year. The company’s board decided not to grant short-term variable remuneration to A...
ANZ Group Holdings Announces Quotation of New Securities
Dec 5, 2025
ANZ Group Holdings Limited has announced the quotation of 950,467 ordinary fully paid securities on the Australian Securities Exchange (ASX), issued under an employee incentive scheme. This move is part of ANZ’s ongoing efforts to enhance it...
ANZ Group Holdings Updates Dividend Distribution Details
Dec 3, 2025
ANZ Group Holdings Limited announced an update regarding its dividend distribution, specifying the Dividend Reinvestment Plan (DRP) and Bonus Option Plan (BOP) price at AUD 34.37. The update also includes exchange rates for AUD/NZD and AUD/GBP, al...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.