Westpac Banking Corporation (WBCPI) - Net Assets

Latest as of March 2025: AU$72.35 Billion AUD

Based on the latest financial reports, Westpac Banking Corporation (WBCPI) has net assets worth AU$72.35 Billion AUD as of March 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$1.10 Trillion) and total liabilities (AU$1.03 Trillion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.

Key Net Assets Metrics

Metric	Value
Current Net Assets	AU$72.35 Billion
% of Total Assets	6.58%
Annual Growth Rate	2.72%
5-Year Change	5.84%
10-Year Change	N/A
Growth Volatility	2.81

Westpac Banking Corporation - Net Assets Trend (2016–2024)

This chart illustrates how Westpac Banking Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for Westpac Banking Corporation (2016–2024)

The table below shows the annual net assets of Westpac Banking Corporation from 2016 to 2024.

Year	Net Assets	Change
2024-09-30	AU$72.05 Billion	-0.67%
2023-09-30	AU$72.54 Billion	+2.88%
2022-09-30	AU$70.51 Billion	-2.20%
2021-09-30	AU$72.09 Billion	+5.90%
2020-09-30	AU$68.07 Billion	+3.92%
2019-09-30	AU$65.51 Billion	+1.45%
2018-09-30	AU$64.57 Billion	+5.27%
2017-09-30	AU$61.34 Billion	+5.54%
2016-09-30	AU$58.12 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Westpac Banking Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 27.6% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (September 2024)

Component	Amount	Percentage
Retained Earnings	AU$32.77 Billion	45.71%
Other Components	AU$38.93 Billion	54.29%
Total Equity	AU$71.70 Billion	100.00%

Westpac Banking Corporation Competitors by Market Cap

The table below lists competitors of Westpac Banking Corporation ranked by their market capitalization.

Company	Market Cap
Philip Morris International Inc NYSE:PM	$245.63 Billion
RTX Corporation NEO:RTX	$251.49 Billion
Wells Fargo & Company NYSE:WFC	$251.77 Billion
Roche Holding AG SW:ROP	$254.60 Billion
Novartis AG SW:NOVN	$241.30 Billion
China Construction Bank Corporation F:C6T	$239.50 Billion
Royal Bank of Canada NYSE:RY	$238.45 Billion
Goldman Sachs Group Inc NYSE:GS	$236.20 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Westpac Banking Corporation's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 72,495,000,000 to 71,705,000,000, a change of -790,000,000 (-1.1%).
Net income of 6,990,000,000 contributed positively to equity growth.
Dividend payments of 5,652,000,000 reduced retained earnings.
Share repurchases of 1,868,000,000 reduced equity.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	AU$6.99 Billion	+9.75%
Dividends Paid	AU$5.65 Billion	-7.88%
Share Repurchases	AU$1.87 Billion	-2.61%
Other Changes	AU$-260.00 Million	-0.36%
Total Change	AU$-	-1.09%

Book Value vs Market Value Analysis

This analysis compares Westpac Banking Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 4.81x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 5.54x to 4.81x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2017-09-30	AU$18.10	AU$100.32	x
2018-09-30	AU$18.78	AU$100.32	x
2019-09-30	AU$18.76	AU$100.32	x
2020-09-30	AU$18.86	AU$100.32	x
2021-09-30	AU$19.65	AU$100.32	x
2022-09-30	AU$20.15	AU$100.32	x
2023-09-30	AU$20.69	AU$100.32	x
2024-09-30	AU$20.87	AU$100.32	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Westpac Banking Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 9.75%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 32.38%
• Asset Turnover: 0.02x
• Equity Multiplier: 15.03x
Recent ROE (9.75%) is above the historical average (9.72%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2016	12.81%	0.00%	0.00x	14.44x	AU$1.63 Billion
2017	13.04%	37.15%	0.03x	13.90x	AU$1.86 Billion
2018	12.55%	36.54%	0.03x	13.63x	AU$1.64 Billion
2019	10.36%	32.88%	0.02x	13.85x	AU$238.60 Million
2020	3.37%	11.51%	0.02x	13.41x	AU$-4.51 Billion
2021	7.58%	26.00%	0.02x	12.99x	AU$-1.75 Billion
2022	8.08%	27.87%	0.02x	14.40x	AU$-1.35 Billion
2023	9.92%	33.66%	0.02x	14.20x	AU$-54.50 Million
2024	9.75%	32.38%	0.02x	15.03x	AU$-180.50 Million

Industry Comparison

This section compares Westpac Banking Corporation's net assets metrics with peer companies in the Banks - Diversified industry.

Industry Context

Industry: Banks - Diversified
Average net assets among peers: $56,719,500,000
Average return on equity (ROE) among peers: 12.63%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Westpac Banking Corporation (WBCPI)	AU$72.35 Billion	12.81%	14.19x	$243.39 Billion
ANZ Group Holdings Ltd (ANZ)	$71.87 Billion	8.20%	17.05x	$80.06 Billion
Commonwealth Bank of Australia (CBA)	$41.57 Billion	17.05%	16.28x	$210.87 Billion

About Westpac Banking Corporation

AU:WBCPI Australia Banks - Diversified

Market Cap

$243.39 Billion

AU$343.98 Billion AUD

Market Cap Rank

#68 Global

#1 in Australia

Share Price

AU$100.32

Change (1 day)

+0.00%

52-Week Range

AU$100.32 - AU$100.32

All Time High

AU$100.32