WEBNFOTCCommercial Banks, NECFiscal year ends September 30Also trades as WBKCY
WESTPAC BANKING CORP
Financials through fiscal 2025, year ended Sep 30, 2025Last filing: 20-F on Nov 4, 2025
$22.75−0.75 (-3.19%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2015 to 2025
Net margin
11.9%+4.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +1.5% | +31.2% | +13.7% | – | |
| Net income | -1.1% | +6.7% | +24.7% | – | |
| EPS, diluted | +4.0% | +9.4% | +25.6% | – | |
| Free cash flow | – | -18.4% | -31.0% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 3.4% | 9.6% | |
| Return on assets | – | 0.3% | 0.6% | |
| Capex to revenue | 1.4% | 0.8% | 0.6% | |
| Diluted shares | 3.52B | 3.59B | 3.69B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Westpac Banking generated A$107.42B from operations and spent A$23.80B on capital expenditure, dividends and share buybacks. 5% of that went back into the business.
Generated
A$107.42B
Used
A$23.80B
Capital expenditureA$1.24B5%DividendsA$22.55B95%Share buybacksA$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin11.9%
×Asset turnover0.05×
×Equity multiplier15.25×
=Return on equity, FY20259.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 11.9% | 0.05× | 15.25× | 9.6% |
| FY2024 | 12.2% | 0.05× | 14.61× | 9.7% |
| FY2023 | 15.3% | 0.05× | 14.30× | 10.1% |
| FY2022 | 22.2% | 0.03× | 13.69× | 8.0% |
| FY2021 | 20.5% | 0.03× | 13.19× | 7.8% |
| FY2020 | 7.5% | 0.03× | 13.62× | 3.4% |
| FY2019 | 18.4% | 0.04× | 13.74× | 10.4% |
| FY2018 | 21.3% | 0.04× | 13.76× | 12.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zeroA$6.92B
- Cash generatingOperating cash flow above zeroA$9.49B
- Return on assets improvedROA up on the prior year0.7% → 0.6%
- Earnings backed by cashOperating cash flow above net incomeA$9.49B vs A$6.92B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise3.90B → 3.69B
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.06 → 0.05