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ANZ Group HoldingsASX:ANZ +0.32%58 Debt-to-Equity is 2.99 as of Mar. 2026, which is 29% above its 10-year median of 2.32. GuruFocus rates ASX:ANZ with a GF Score™ of 58/100 and a GF Value™ of A$33.13 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 1,416 Banks companies, ANZ Group Holdings ranks worse than 92.44% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for ANZ Group Holdings's Debt-to-Equity or its related term are showing as below:
ASX:ANZ'
s Debt-to-Equity Range Over the Past 10 Years
Min: 1.93 Med: 2.32 Max: 3.24
Current: 2.99
During the past 13 years, the highest Debt-to-Equity Ratio of ANZ Group Holdings was 3.24. The lowest was 1.93. And the median was 2.32.
ASX:ANZ's Debt-to-Equity is ranked worse than 92.44% of 1416
companies
in the Banks industry
Industry Median: 0.58
vs ASX:ANZ: 2.99
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
ANZ Group Holdings Debt-to-Equity Related Terms
ANZ Group Holdings Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for ANZ Group Holdings's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ASX:ANZ vs JPM, BAC, WFC: Debt-to-Equity Comparison
For the Banks - Diversified subindustry, ANZ Group Holdings's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ANZ Group Holdings Debt-to-Equity vs Banks Industry
For the Banks industry and Financial Services sector, ANZ Group Holdings's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where ANZ Group Holdings's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ANZ Group Holdings (ASX:ANZ) has a Debt-to-Equity of 2.99 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on ANZ Group Holdings and its competitors. This is 29% above median its historical median of 2.32. Over the past decade, ANZ Group Holdings' Debt-to-Equity has ranged from 1.93 to 3.24. According to the industry distribution chart, ANZ Group Holdings ranks #1309 out of 1416 companies in the Banks industry, placing it in the top 92.4%.
Is ANZ Group Holdings' Debt-to-Equity too high?
ANZ Group Holdings' current Debt-to-Equity of 2.99 is 29% above median its 10-year median of 2.32. Over the past 10 years, this metric has ranged from a low of 1.93 to a high of 3.24. The Banks industry median Debt-to-Equity is 0.58. ANZ Group Holdings' value of 2.99 is 415.5% above this industry median. Based on the distribution chart, ANZ Group Holdings ranks #1309 out of 1416 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, ANZ Group Holdings has a GF Score™ of 58/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ANZ Group Holdings' Debt-to-Equity compare to JPM and BAC?
According to the Banks industry distribution chart, ANZ Group Holdings ranks #1309 out of 1416 companies for Debt-to-Equity. This places ANZ Group Holdings in the lower half of its industry. The industry median Debt-to-Equity is 0.58. ANZ Group Holdings' value of 2.99 is 415.5% above this benchmark. Historically, ANZ Group Holdings' own Debt-to-Equity has ranged from 1.93 to 3.24 over the past decade. While the company's 10-year median is 2.32 vs. the industry median of 0.58, ANZ Group Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Banks company?
The median Debt-to-Equity among Banks companies is 0.58, based on 1,416 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ANZ Group Holdings's current Debt-to-Equity of 2.99 is 415.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on ANZ Group Holdings and its competitors. For the Banks industry, the median Debt-to-Equity is 0.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ANZ Group Holdings's current Debt-to-Equity is 2.99, which is 29% above median its own 10-year median of 2.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ANZ Group Holdings stock overvalued right now?
Based on GuruFocus' analysis, ANZ Group Holdings (ASX:ANZ) is currently considered Modestly Overvalued. The stock's GF Value™ is A$33.13, compared to a current price of A$37.13 — trading 12.1% above its estimated fair value. The current Debt-to-Equity is 2.99, which is 29% above median its 10-year median of 2.32 and 415.5% above the Banks industry median of 0.58. ANZ Group Holdings' overall GF Score™ is 58/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For ANZ Group Holdings (ASX:ANZ), the current Debt-to-Equity is 2.99 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is ANZ Group Holdings (ASX:ANZ) Overvalued in 2026?
Based on GuruFocus' analysis, ANZ Group Holdings stock appears to be overvalued.
The current stock price of A$37.13 is trading 12.1% above its estimated GF Value™ of A$33.13.
GuruFocus considers ANZ Group Holdings to be Modestly Overvalued.
Key valuation signals for ASX:ANZ:
Debt-to-Equity: 2.99 (29% above median its 10-year median of 2.32)
GF Value™: A$33.13 vs. price of A$37.13 (12.1% above fair value)
Industry Position: 415.5% above the Banks median (#1309 of 1416)
No single metric tells the full story. See the ASX:ANZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ANZ Group is the owner of one of Australia's four major banks and provides retail, business, and institutional banking services to customers in Australia, New Zealand, and Asia-Pacific. The super-regional Asian strategy was de-emphasized, with management focusing on the higher-returning businesses in Australia and New Zealand. ANZ Bank still retains a tilt to its Asia-centric strategy, but is now more balanced, better capitalized and a simpler bank.
58GF Score
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