WESTPAC BANKING CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data WESTPAC BANKING CORP files with the SEC in its annual reports.

In AUD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	37,659	37,366	38,073	36,964	30,534	26,642	25,696	47,080	57,182	58,046
Pre-tax income	10,644	11,515	11,731	9,749	4,266	8,501	8,469	10,305	10,107	10,044
Income tax	3,184	3,518	3,632	2,959	1,974	3,038	2,770	3,104	3,117	3,111
Net income to minority interests	15	7	-4	-6	2	5	5	6		17
Net income	7,445	7,990	8,095	6,784	2,290	5,458	5,694	7,195	6,990	6,916
EPS, basic	2.25	2.38	2.38	1.97	0.64	1.49	1.60	2.05	2.01	2.02
EPS, diluted	2.18	2.29	2.30	1.90	0.64	1.38	1.52	1.95	1.92	1.99

Balance sheet

	FY2016	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	17,397	18,786	26,788	20,059	30,129	71,353	105,257	102,522	65,667	50,430
Property, plant and equipment		1,487	1,329	1,155	3,910	2,853	2,429	2,245	2,251	2,266
Lease right-of-use assets				0	2,918
Goodwill	9,030	9,012	8,890	8,895	8,397	7,599	7,393	7,419	7,433	7,413
Intangible assets								670	638
Total assets	839,202	851,875	879,592	906,626	911,946	935,877	1,014,198	1,029,774	1,077,544	1,125,356
Total liabilities	781,021	790,533	815,019	841,119	843,872	863,785	943,689	957,235	1,005,492	1,052,263
Retained earnings		26,100	27,883	27,188	26,533	28,813	29,063	31,436	32,773	34,468
Shareholders' equity		61,288	64,521	65,454	68,023	72,035	70,452	72,495	71,705	72,766
Minority interests		54	52	53	51	57	57	44	347	327
Total equity	58,181	61,342	64,573	65,507	68,074	72,092	70,509	72,539	72,052	73,093
Total liabilities and equity	839,202	851,875	879,592	906,626	911,946	935,877	1,014,198	1,029,774	1,077,544	1,125,356

Cash flow statement

	FY2016	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	7,460	7,997	8,099	6,790	2,292	5,463	5,699	7,201	6,990	6,933
Cash from operations	5,497	2,837	19,770	7,104	58,651	50,410	16,954	-10,796	-19,767	9,489
Capital expenditures	-521	-264	-310	-280	-240	-234	-166	-238	-235	-371
Cash from investing	-7,245	-1,698	-1,620	-10,769	-19,477	5,623	2,807	1,712	-26,167	-12,160
Debt issued		72,368	59,456	61,484	34,766	46,799	73,309	70,974	80,245	68,850
Debt repaid		-69,119	-64,698	-63,313	-65,160	-65,272	-55,899	-62,596	-67,100	-76,010
Stock issued					2,751				339
Dividends paid	-5,402	-4,839	-5,769	-4,977	-2,518	-2,846	-4,337	-4,504	-5,652	-5,215
Cash from financing	4,573	552	-11,092	-3,633	-28,803	-15,100	13,239	5,655	9,832	-12,648
Exchange rate effect	-580	-302	944	569	-301	298	897	694	-753	82
Free cash flow	4,976	2,573	19,460	6,824	58,411	50,176	16,788	-11,034	-20,002	9,118
Interest paid	16,721	15,415	15,789	16,486	11,466	5,677	5,091	22,654	34,000	35,638

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	17.3%	Pre-tax income / revenue.
Net margin	11.9%	Net income / revenue.
FCF margin	15.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	16.3%	Cash from operations / revenue.
Effective tax rate	31.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	9.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.6%	Net income / average total assets.
Capex / revenue	0.6%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	1.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	31.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	13.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-1.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	6.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	24.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	4.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	9.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	25.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y	-17.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-30.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 3y	-18.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-31.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	1.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	1.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	1.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	4.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	4.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	93.5%	Total liabilities / total assets.
Goodwill and intangibles / assets	0.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	A$65.35B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.05x	Revenue / average total assets.
Fixed asset turnover	25.7x	Revenue / average property, plant and equipment.
FCF conversion	131.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	3.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	A$1.99	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	A$2.02	Net income per basic share, as reported (split-adjusted).
Payout ratio	75.4%	Dividends paid / net income, when net income is positive.
Dividends / FCF	57.2%	Dividends paid / free cash flow, when free cash flow is positive.

What was WESTPAC BANKING CORP's revenue in fiscal 2025?

WESTPAC BANKING CORP reported revenue of A$58.05B for fiscal 2025, 1.5% higher than the year before.

Was WESTPAC BANKING CORP profitable in fiscal 2025?

Yes. Net income was A$6.92B, a net margin of 11.9%.

How much free cash flow did WESTPAC BANKING CORP generate in fiscal 2025?

Cash from operations of A$9.49B minus capital expenditures of A$371.0M left free cash flow of A$9.12B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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