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Westpac Banking
(OTC:WBC)
Westpac Banking (WBC) vs. iShares MSCI Australia ETF (EWA)
Westpac Banking Business Overview & Revenue Model
Westpac Banking Earnings Call Summary
Westpac Banking Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 39.26B | 58.42B | 21.05B | 21.00B | 19.27B | 21.81B |
| Gross Profit | 10.54B | 0.00 | 21.05B | 20.73B | 20.09B | 21.59B |
| EBITDA | 10.31B | 10.31B | 0.00 | 11.55B | 10.06B | -1.06B |
| Net Income | 6.91B | 6.91B | 6.98B | 7.20B | 5.69B | 5.46B |
Balance Sheet | ||||||
| Total Assets | 1.13T | 1.13T | 1.08T | 1.03T | 1.01T | 935.88B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 0.00 | 168.07B | 176.87B | 181.02B | 70.91B |
| Total Debt | 232.44B | 232.44B | 207.17B | 138.20B | 126.71B | 113.17B |
| Total Liabilities | 1.05T | 1.05T | 1.01T | 957.24B | 943.69B | 863.78B |
| Stockholders Equity | 72.77B | 72.77B | 71.70B | 72.50B | 70.45B | 72.03B |
Cash Flow | ||||||
| Free Cash Flow | 2.18B | 13.55B | -1.17B | -35.73B | -18.27B | 16.44B |
| Operating Cash Flow | 2.56B | 13.93B | -933.00M | -35.49B | -18.10B | 16.67B |
| Investing Cash Flow | -57.08B | -68.45B | -80.24B | 1.71B | 2.81B | 5.62B |
| Financing Cash Flow | 39.20B | 39.20B | 45.08B | 30.35B | 48.29B | 18.64B |
Westpac Banking Technical Analysis
Westpac Banking Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | AU$108.02B | 18.41 | 7.92% | 4.53% | 5.21% | -9.07% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | AU$257.59B | 25.59 | 13.34% | 3.00% | 6.39% | 7.78% | |
61 Neutral | AU$130.08B | 19.07 | 9.08% | 3.90% | 1.57% | 0.13% | |
61 Neutral | AU$19.68B | 21.26 | 29.52% | 2.69% | 6.44% | 22.38% | |
58 Neutral | AU$127.31B | 19.18 | 10.36% | 4.00% | -4.56% | -1.63% | |
56 Neutral | AU$75.09B | 20.70 | 10.30% | 3.27% | 3.65% | 1.58% |
Westpac Banking Corporate Events
Westpac Banking Corporation has announced a quarterly distribution on its Westpac Capital Notes 10 (ASX code WBCPM), a listed hybrid capital security, with a fully franked cash payment of AUD 1.1789 per note to be paid on 23 March 2026. The distribution, covering the period from 23 December 2025 to 22 March 2026, is based on an annualised distribution rate of 4.7809%, derived from the three‑month BBSW plus a 3.10% margin adjusted for franking, underscoring Westpac’s ongoing access to, and support for, hybrid capital markets and providing income stability for noteholders within the bank’s broader capital management framework.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has declared a fully franked quarterly distribution of AUD 1.2306 per Westpac Capital Notes 9 (ASX: WBCPL), payable on 23 March 2026 to holders on the record date of 13 March 2026, with the securities trading ex-distribution from 12 March 2026. The distribution, covering the period from 23 December 2025 to 22 March 2026, reflects an annualised distribution rate of 4.9909%, derived from the three‑month BBSW plus a 3.40% margin adjusted for tax, underscoring the bank’s ongoing commitment to servicing its hybrid capital investors and maintaining confidence in its additional tier 1 funding structure.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has announced a fully franked quarterly distribution on its ASX-listed Westpac Capital Notes 8 (WBCPK), set at AUD 1.1439 per security for the period from 22 December 2025 to 21 March 2026, with an ex-date of 12 March 2026, record date of 13 March 2026, and payment scheduled for 23 March 2026. The distribution rate for this period is 4.6393% per annum, derived from a 3‑month BBSW of 3.7275% plus a 2.90% margin, adjusted for a 30% tax rate, underscoring the ongoing cost of Westpac’s hybrid capital and providing income visibility for noteholders while signaling continued access to and utilisation of hybrid markets as part of the bank’s broader capital management strategy.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has cancelled 50,000 ordinary fully paid shares as part of an on‑market buy-back, effective 22 December 2025. The reduction in issued capital reflects the bank’s ongoing capital management strategy, which can enhance earnings per share and return surplus capital to shareholders, and underscores continued use of buy-backs as a tool to optimise its balance sheet and support shareholder value.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares (code: WBC). As of 19 December 2025, the bank reported that it had repurchased a cumulative total of 88,723,655 shares prior to the previous trading day and bought back an additional 50,000 shares on the previous day, continuing the capital management initiative first notified in November 2023 and last updated in November 2025.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$38.50 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation held its 2025 Annual General Meeting where all resolutions were decided by poll. Key outcomes included the re-election of Peter Nash and the election of David Cohen, Pip Greenwood, and Debra Hazelton as directors, with significant support from shareholders. However, an amendment to the constitution was not carried. These decisions reflect Westpac’s strategic direction and governance priorities, impacting its leadership structure and potentially influencing its market positioning and stakeholder relations.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$38.50 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has announced the aggregated percentage of voting shares controlled by its entities, which stands at 0.27% of the total voting shares issued. This update, in line with an exemption granted by the Australian Securities and Investments Commission, reflects Westpac’s ongoing management of its shareholding structure and its influence over voting rights, which could have implications for its operational control and stakeholder engagement.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$38.50 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac’s CEO addressed shareholders at the 2025 Annual General Meeting, emphasizing the company’s commitment to becoming a more resilient and customer-focused bank. The CEO highlighted the importance of improving service standards to build trust and loyalty, with the ultimate goal of being the top bank for customers. Westpac is pursuing a growth and transformation agenda, supported by a strong balance sheet, and is guided by five strategic priorities to achieve its ambitions. The company reported a solid financial performance for the year, with strong momentum in its target segments.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$38.50 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
In 2025, Westpac has embarked on a transformative agenda under new leadership, aiming to improve operational efficiency and customer experiences, which is expected to enhance shareholder returns. The completion of the five-year CORE program has improved risk management and governance, while the removal of a $500 million risk capital overlay by APRA has bolstered the bank’s capital position. Westpac’s commitment to sustainability is evident as it remains Australia’s largest lender to renewable energy, supporting the nation’s transition while ensuring energy reliability and affordability. Financially, Westpac’s net profit was slightly down to $7 billion, reflecting its strategy of balancing growth and necessary investments in innovation and transformation.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$38.50 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has updated its previous announcement regarding its dividend distribution, providing new details on the Dividend Reinvestment Plan (DRP) price, participation rate, and foreign currency payment options. This update is part of the company’s ongoing financial reporting for the six-month period ending September 30, 2025, and reflects Westpac’s commitment to maintaining transparency and shareholder engagement through clear communication of its financial strategies.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$38.50 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac has released its latest sustainability update, highlighting its ongoing commitment to sustainable practices. The update reflects Westpac’s efforts to integrate sustainability into its operations, which is crucial for maintaining its competitive edge and meeting stakeholder expectations in a rapidly evolving market landscape.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$38.50 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has issued A$1 billion in Tier 2 Subordinated Notes, which are expected to be classified as Tier 2 regulatory capital under the Basel III framework as implemented by the Australian Prudential Regulation Authority. This issuance reinforces Westpac’s capital structure, providing it with additional regulatory capital that can be converted into ordinary shares or written off if the bank is deemed non-viable by APRA, thus impacting its operational resilience and financial stability.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$34.10 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation announced the cessation of 70,271 share rights due to the lapse of conditional rights, as the conditions were not met or became incapable of being satisfied. This development may impact the company’s capital structure and could have implications for stakeholders, as it reflects on the company’s ability to meet certain conditions tied to its securities.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$34.10 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation announced a change in the interests of its director, Anthony James Miller, in the company’s securities. On November 6, 2025, a portion of Miller’s 2022 Long Term Variable Reward performance rights vested and were exercised, resulting in the acquisition of 63,210 Westpac fully paid ordinary shares, while 21,070 performance rights lapsed. This change reflects the outcome of the company’s performance-based reward system and highlights Westpac’s commitment to aligning executive interests with company performance.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$34.10 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has announced a change in the director’s interest, with Philippa Greenwood acquiring 4,122 Westpac fully paid ordinary shares through an on-market trade. This change reflects the director’s increased stake in the company, potentially indicating confidence in Westpac’s future performance and aligning the director’s interests with those of other shareholders.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$34.10 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has released its New Zealand Banking Group Disclosure Statement for the fiscal year ending 30 September 2025. This disclosure provides insights into the financial performance and operational aspects of Westpac’s New Zealand operations, which could have implications for stakeholders and the company’s strategic positioning in the region.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$34.10 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has announced an update to its on-market buy-back program, extending the end date to November 10, 2026. This extension indicates Westpac’s strategic focus on managing its capital structure and returning value to shareholders, reflecting its commitment to maintaining a strong market position and enhancing shareholder returns.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has announced an Information Memorandum for its U.S.$70 billion program for the issuance of debt instruments, including subordinated instruments. This program allows Westpac to offer debt securities under specific terms and conditions, potentially impacting its financial strategy and market positioning by expanding its funding sources and enhancing its capital structure.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has filed its Annual Report on Form 20-F with the US Securities and Exchange Commission for the fiscal year ending September 30, 2025. This filing is crucial for updating Westpac’s US debt issuance programs and complies with US securities law requirements. The report’s presentation differs slightly from the version submitted to the ASX. This move is significant for Westpac’s operations as it ensures compliance with US regulations, potentially impacting its market positioning and stakeholder relations.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$34.10 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation announced details for its 2025 Annual General Meeting (AGM), scheduled for December 11, 2025, at the Wesley Conference Centre in Sydney. Shareholders can attend in person or watch a live webcast, with opportunities to submit questions online. The announcement highlights Westpac’s commitment to shareholder engagement and transparency, allowing for direct voting or proxy appointments before the meeting.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$34.10 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has released the Westpac New Zealand Limited Disclosure Statement for the fiscal year ending 30 September 2025. This disclosure is part of the company’s ongoing commitment to transparency and regulatory compliance, which is crucial for maintaining stakeholder trust and ensuring informed investment decisions.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has announced the details for its 2025 Annual General Meeting, scheduled for December 11, 2025. The notice includes information on voting and proxy forms, as well as a platform for shareholders to submit questions, reflecting the company’s commitment to shareholder engagement and transparency.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has released its 2025 Risk Factors, highlighting potential challenges and considerations for the upcoming year. This announcement is crucial for stakeholders as it outlines the risks that may impact Westpac’s operations and strategic positioning in the financial industry, providing insights into the company’s preparedness and resilience in facing market uncertainties.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has released its 2025 Corporate Governance Statement and Appendix 4G, which outlines the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations. This release signifies Westpac’s commitment to transparency and regulatory compliance, potentially strengthening its position in the financial industry and reassuring stakeholders of its governance practices.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has released its Pillar 3 Report for September 2025, which incorporates the requirements of APS 330. This report provides insights into Westpac’s risk management and capital adequacy, reflecting the company’s commitment to transparency and regulatory compliance. The release of this report is significant for stakeholders as it highlights Westpac’s operational resilience and strategic positioning within the financial industry.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has released its 2025 Sustainability Report, which includes climate-related disclosures aligned with Australian and New Zealand standards. This report underscores Westpac’s commitment to sustainability and its efforts to address climate change, potentially impacting its operations and stakeholder engagement by demonstrating transparency and responsibility in environmental matters.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation, a major financial institution, has announced the sale of its $21.4 billion RAMS mortgage portfolio to a consortium including Pepper Money Limited, KKR, and PIMCO. The transaction, which is expected to result in a loss after transaction costs, will enhance Westpac’s capital ratio and streamline its operations following the closure of RAMS to new business. This move is aimed at reducing costs and providing strategic flexibility, while ensuring RAMS customers continue to manage their loans without disruption.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation announced its 2025 full-year financial results, reporting a net profit after tax of $6.9 billion, a slight decrease from the previous year. The company is focused on balancing growth with returns and investing in innovation and transformation to support future operations. Despite a minor decline in profit, Westpac maintains a strong capital position, allowing for continued investment and strategic focus on customer service and operational improvements.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has released its 2025 Presentation and Investor Discussion Pack, detailing the company’s full-year financial results for the period ending September 30, 2025. This release is significant as it provides stakeholders with insights into the company’s financial performance and strategic direction, potentially impacting investor perceptions and market positioning.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation reported a net profit after tax of $6.9 billion for the 2025 fiscal year, a slight decrease from the previous year. Despite the competitive environment, Westpac maintained strong capital positions and achieved significant growth in deposits and loans, particularly in its agribusiness portfolio. The company is focused on executing its strategy and enhancing customer experience through digital and physical banking channels, with new service centers planned for regional areas.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has announced its full-year financial results for 2025, highlighting the company’s financial performance over the past year. This announcement provides insights into Westpac’s operational outcomes and its strategic positioning in the financial industry, which may have implications for stakeholders, including investors and customers.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has announced a dividend distribution of AUD 0.77 per fully paid ordinary share, relating to the six-month period ending September 30, 2025. The ex-dividend date is set for November 6, 2025, with the record date on November 7, 2025, and payment scheduled for December 19, 2025. This announcement reflects Westpac’s ongoing commitment to returning value to its shareholders and may impact its financial positioning and stakeholder interests positively.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation released its 2025 Group Annual Report, highlighting a 4% increase in revenue from ordinary activities to $22,384 million. However, the profit from ordinary activities after tax attributable to equity holders decreased by 1% to $6,916 million. The report also noted a slight increase in net tangible assets per ordinary share, rising from $17.75 to $18.25, indicating a stable financial position despite the dip in profits. The announcement underscores Westpac’s ongoing efforts to maintain financial stability and shareholder value amidst a competitive banking environment.
The most recent analyst rating on (AU:WBC) stock is a Sell with a A$32.20 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation announced a restructuring charge of $273 million as part of its Fit for Growth Program, aimed at enhancing productivity. While modest benefits were realized in FY25, the majority are expected in FY26 and FY27. Additionally, the company revised its segment composition to improve operational alignment, which included transferring the merchant services business and realigning certain expenses. These changes do not affect the net profit after tax. The full year results for 2025 will be announced on November 3, 2025, with notable items impacting the net profit due to hedging activities.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$37.63 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation has successfully completed a significant transformation in its risk management practices, as acknowledged by the Australian Prudential Regulation Authority (APRA). This transformation, part of the Customer Outcomes and Risk Excellence Program (CORE), has led to the removal of a $500 million operational risk capital overlay, boosting the bank’s Common Equity Tier 1 (CET1) capital ratio by 17 basis points. The improvements are expected to enhance Westpac’s operational strength and market positioning, reflecting a reduction in risk-weighted assets by $6,250 million.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$37.63 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation announced the cessation of 2,796 share rights due to the lapse of conditional rights, as the conditions were not met or became incapable of being satisfied. This announcement may affect the company’s issued capital and could have implications for stakeholders regarding the company’s securities management and future financial strategies.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$37.63 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation announced the issuance of 12,097 unquoted equity securities, specifically ordinary fully paid shares, on September 30, 2025. This move signifies Westpac’s ongoing efforts to manage its equity structure and could have implications for its market positioning and stakeholder interests.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$37.63 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.
Westpac Banking Corporation announced the issuance of 3,431 unquoted share rights under an employee incentive scheme, effective September 30, 2025. This strategic move is part of Westpac’s efforts to align employee interests with company performance, potentially enhancing motivation and retention, and strengthening its competitive positioning in the financial services industry.
The most recent analyst rating on (AU:WBC) stock is a Hold with a A$37.63 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.