Westpac BankingSTU:WBC +0.21%61 Net Margin % is 30.23% as of Mar. 2026, which is 7% below its 10-year median of 32.63. GuruFocus rates STU:WBC with a GF Score™ of 61/100 and a GF Value™ of €21.53 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,527 Banks companies, Westpac Banking ranks better than 63% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Westpac Banking's Net Income for the
six
months ended in Mar. 2026 was €2,072 Mil. Westpac Banking's Revenue for the
six
months ended in Mar. 2026 was €6,855 Mil. Therefore, Westpac Banking's net margin for the quarter that ended in Mar. 2026 was 30.23%.
The historical rank and industry rank for Westpac Banking's Net Margin % or its related term are showing as below:
STU:WBC'
s Net Margin % Range Over the Past 10 Years
Min: 11.52 Med: 32.63 Max: 36.91
Current: 30.65
STU:WBC's Net Margin % is ranked better than 63% of 1527
companies
in the Banks industry
Industry Median: 26.95
vs STU:WBC: 30.65
Westpac Banking (STU:WBC) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Westpac Banking Net Margin % Related Terms
Westpac Banking Net Margin % Historical Data
* Premium members only.
The historical data trend for Westpac Banking's Net Margin % 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.
For the Banks - Diversified subindustry, Westpac Banking's Net Margin %, along with its competitors' market caps and Net Margin % 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.
Westpac Banking Net Margin % vs Banks Industry
For the Banks industry and Financial Services sector, Westpac Banking's Net Margin % distribution charts can be found below:
* The bar in red indicates where Westpac Banking's Net Margin % 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.
Westpac Banking (STU:WBC) has a Net Margin % of 30.23% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Westpac Banking and its competitors. This is near median its historical median of 32.63. Over the past decade, Westpac Banking's Net Margin % has ranged from 11.52 to 36.91. According to the industry distribution chart, Westpac Banking ranks #565 out of 1527 companies in the Banks industry, placing it in the top 37%.
Is Westpac Banking's Net Margin % too high?
Westpac Banking's current Net Margin % of 30.23% is near median its 10-year median of 32.63. Over the past 10 years, this metric has ranged from a low of 11.52 to a high of 36.91. The Banks industry median Net Margin % is 26.95. Westpac Banking's value of 30.23% is 12.2% above this industry median. Based on the distribution chart, Westpac Banking ranks #565 out of 1527 companies in the Banks industry, which is above the industry midpoint. Overall, Westpac Banking has a GF Score™ of 61/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Westpac Banking's Net Margin % compare to JPM and BAC?
According to the Banks industry distribution chart, Westpac Banking ranks #565 out of 1527 companies for Net Margin %. This puts Westpac Banking in the upper half of its industry. The industry median Net Margin % is 26.95. Westpac Banking's value of 30.23% is 12.2% above this benchmark. Historically, Westpac Banking's own Net Margin % has ranged from 11.52 to 36.91 over the past decade. While the company's 10-year median is 32.63 vs. the industry median of 26.95, Westpac Banking 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 Net Margin % for a Banks company?
The median Net Margin % among Banks companies is 26.95, based on 1,527 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Westpac Banking's current Net Margin % of 30.23% is 12.2% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Westpac Banking and its competitors. For the Banks industry, the median Net Margin % is 26.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Westpac Banking's current Net Margin % is 30.23%, which is near median its own 10-year median of 32.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Westpac Banking stock overvalued right now?
Based on GuruFocus' analysis, Westpac Banking (STU:WBC) is currently considered Fairly Valued. The stock's GF Value™ is €21.53, compared to a current price of €21.30 — trading 1.1% below its estimated fair value. The current Net Margin % is 30.23%, which is near median its 10-year median of 32.63 and 12.2% above the Banks industry median of 26.95. Westpac Banking's overall GF Score™ is 61/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Westpac Banking (STU:WBC), the current Net Margin % is 30.23% 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 Westpac Banking (STU:WBC) Overvalued in 2026?
Based on GuruFocus' analysis, Westpac Banking stock appears to be undervalued.
The current stock price of €21.30 is trading 1.1% below its estimated GF Value™ of €21.53.
GuruFocus considers Westpac Banking to be Fairly Valued.
Key valuation signals for STU:WBC:
Net Margin %: 30.23% (near median its 10-year median of 32.63)
GF Value™: €21.53 vs. price of €21.30 (1.1% below fair value)
Industry Position: 12.2% above the Banks median (#565 of 1527)
No single metric tells the full story. See the STU:WBC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Westpac is Australia's oldest bank and financial services group, with a significant franchise in Australia and New Zealand in the consumer, small business, corporate, and institutional sectors, in addition to its major presence in wealth management. Westpac is among a handful of banks around the globe currently retaining very high credit ratings. The bank benefits from a large national branch network and significant market share, particularly in home loans and retail deposits.
61GF Score
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