ANZ GROUP HOLDINGS LIMITED (ANZ)
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ANZ

ANZ - ANZ GROUP HOLDINGS LIMITED

FNArena Sector : Banks
Year End: September
GICS Industry Group : Banks
Debt/EBITDA: N/A
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

ANZ Bank is a multinational banking and financial services company. It is the second largest bank by assets and fourth largest bank by market capitalisation in Australia. It has been a listed company since Sept 1969.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$36.78

03 Feb
2026

0.030

OPEN

$37.40

0.08%

HIGH

$37.40

4,037,983

LOW

$36.61

TARGET
$35.028 -4.8% downside
Franking for last dividend paid out: 70%
OTHER COMPANIES IN THE SAME SECTOR
AFG . BEN . BOQ . CBA . HLI . MYS . NAB . RMC . SUN . WBC .
FNARENA'S MARKET CONSENSUS FORECASTS
ANZ: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 198.2 244.0 xxx
DPS (cps) xxx 166.0 167.2 xxx
EPS Growth xxx - 9.1% 23.1% xxx
DPS Growth xxx 0.0% 0.7% xxx
PE Ratio xxx N/A 15.2 xxx
Dividend Yield xxx N/A 4.5% xxx
Div Pay Ratio(%) xxx 83.8% 68.5% xxx

Dividend yield today if purchased 3 years ago: 6.45%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.49

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 13/11 - ex-div 83c (franking 70%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx198.2
DPS All xxxxxxxxxxxxxxx166.0
Sales/Revenue xxxxxxxxxxxxxxx69,538.0 M
Book Value Per Share xxxxxxxxxxxxxxx2,387.4
Net Operating Cash Flow xxxxxxxxxxxxxxx25,224.0 M
Net Profit Margin xxxxxxxxxxxxxxx8.47 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx8.36 %
Return on Invested Capital xxxxxxxxxxxxxxx1.96 %
Return on Assets xxxxxxxxxxxxxxx0.47 %
Return on Equity xxxxxxxxxxxxxxx8.36 %
Return on Total Capital xxxxxxxxxxxxxxx2.49 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx20,651.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx92,813 M
Long Term Debt xxxxxxxxxxxxxxx238,813 M
Total Debt xxxxxxxxxxxxxxx331,626 M
Goodwill - Gross xxxxxxxxxxxxxxx4,165 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx109,155 M
Price To Book Value xxxxxxxxxxxxxxx1.39

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx453.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.65 %
Cost of Goods Sold xxxxxxxxxxxxxxx-
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx5,482 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx317,849 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.2

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Citi

15/01/2026

1

Upgrade to Buy from Neutral

$40.30

9.57%

Citi believes ASX-listed bank outperformance looks unlikely in 2026 given relatively full valuations, even as the broader macro backdrop remains supportive.

The broker points to forecasts for two rate rises, alongside strong aggregate demand and labour conditions, which are expected to underpin net interest margins (NIMs), credit growth and asset quality.

The analysts note valuation concerns persist, yet argue absolute multiples may be a weak signal into 2026 amid fundamental and relative sector support.

Citi raises its target for ANZ Bank to $40.30 from $37.00 and upgrades to Buy from Neutral citing benefits into 2026 from strong tailwinds, driven by disciplined execution on costs and strategy. The bank's valuation is also seen as undemanding relative to peer.

Among the majors, the broker's order of preference is ANZ, Westpac, National Australia Bank and CommBank.

FORECAST
Citi forecasts a full year FY26 dividend of 166.00 cents and EPS of 248.00 cents.
Citi forecasts a full year FY27 dividend of 180.00 cents and EPS of 256.30 cents.

Morgans

xx/xx/xxxx

4

xxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

4

xxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

19/01/2026

2

Overweight

$35.00

-4.84%

Jarden believes the growing emergence of stablecoins poses a structural threat to the traditional bank deposit model, with the broker warning incumbent banks may seek to slow adoption through lobbying, similar to developments now playing out in the US.

The broker argues banks’ reliance on low or no-cost retail deposits leaves net interest margins exposed should digital alternatives force higher deposit pricing, with Jarden estimating a potential NIM impact of up to -75bps for some majors if deposits were repriced at the cash rate.

Jarden maintains its relative preferences across the sector, rating ANZ Bank Overweight alongside a $35 target.

CommBank ((CBA)) is Sell rated with a $100 target, National Australia Bank ((NAB)) Sell rated with a $29 target, while Westpac Banking Corp ((WBC)) is Underweight rated with a $32 target.

FORECAST
Jarden forecasts a full year FY26 dividend of 166.00 cents and EPS of 252.70 cents.
Jarden forecasts a full year FY27 dividend of 166.00 cents and EPS of 271.60 cents.
Access Extra Coverage Research History >

ANZ STOCK CHART

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