Westpac BankingWBKCY +2.68%46 PB Ratio is 3.55 as of Jun. 24, 2026, which is 154% above its 10-year median of 1.40. GuruFocus rates WBKCY with a GF Score™ of 46/100 and a GF Value™ of $50.87 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,516 Banks companies, Westpac Banking ranks worse than 84.37% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-24), Westpac Banking's share price is $51.67. Westpac Banking's Book Value per Share for the quarter that ended in Mar. 2026 was $14.54. Hence, Westpac Banking's PB Ratio of today is 3.55.
The historical rank and industry rank for Westpac Banking's PB Ratio or its related term are showing as below:
WBKCY'
s PB Ratio Range Over the Past 10 Years
Min: 0.79 Med: 1.4 Max: 2.02
Current: 1.76
During the past 13 years, Westpac Banking's highest PB Ratio was 2.02. The lowest was 0.79. And the median was 1.40.
WBKCY's PB Ratio is ranked worse than 84.37% of 1516
companies
in the Banks industry
Industry Median: 1.08
vs WBKCY: 1.76
During the past 12 months, Westpac Banking's average Book Value Per Share Growth Rate was -1.60% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 1.90% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 2.40% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 2.40% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Westpac Banking was 16.30% per year. The lowest was -14.00% per year. And the median was 4.20% per year.
Back to Basics: PB Ratio
Westpac Banking (OTCPK:WBKCY) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Westpac Banking PB Ratio Related Terms
Westpac Banking PB Ratio Historical Data
* Premium members only.
The historical data trend for Westpac Banking's PB Ratio 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 PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Westpac Banking's PB Ratio distribution charts can be found below:
* The bar in red indicates where Westpac Banking's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Westpac Banking's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Westpac Banking (WBKCY) has a PB Ratio of 3.55 as of Jun. 24, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Westpac Banking and its competitors. This is 154% above median its historical median of 1.40. Over the past decade, Westpac Banking's PB Ratio has ranged from 0.79 to 2.02. According to the industry distribution chart, Westpac Banking ranks #1279 out of 1516 companies in the Banks industry, placing it in the top 84.4%.
Is Westpac Banking's PB Ratio too high?
Westpac Banking's current PB Ratio of 3.55 is 154% above median its 10-year median of 1.40. Over the past 10 years, this metric has ranged from a low of 0.79 to a high of 2.02. The Banks industry median PB Ratio is 1.08. Westpac Banking's value of 3.55 is 228.7% above this industry median. Based on the distribution chart, Westpac Banking ranks #1279 out of 1516 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Westpac Banking has a GF Score™ of 46/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Westpac Banking's PB Ratio compare to JPM and BAC?
According to the Banks industry distribution chart, Westpac Banking ranks #1279 out of 1516 companies for PB Ratio. This places Westpac Banking in the lower half of its industry. The industry median PB Ratio is 1.08. Westpac Banking's value of 3.55 is 228.7% above this benchmark. Historically, Westpac Banking's own PB Ratio has ranged from 0.79 to 2.02 over the past decade. While the company's 10-year median is 1.40 vs. the industry median of 1.08, 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 PB Ratio for a Banks company?
The median PB Ratio among Banks companies is 1.08, based on 1,516 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Westpac Banking's current PB Ratio of 3.55 is 228.7% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Westpac Banking and its competitors. For the Banks industry, the median PB Ratio is 1.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Westpac Banking's current PB Ratio is 3.55, which is 154% above median its own 10-year median of 1.40. 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 (WBKCY) is currently considered Fairly Valued. The stock's GF Value™ is $50.87, compared to a current price of $51.67 — trading 1.6% above its estimated fair value. The current PB Ratio is 3.55, which is 154% above median its 10-year median of 1.40 and 228.7% above the Banks industry median of 1.08. Westpac Banking's overall GF Score™ is 46/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Westpac Banking (WBKCY), the current PB Ratio is 3.55 as of Jun. 24, 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 (WBKCY) Overvalued in 2026?
Based on GuruFocus' analysis, Westpac Banking stock appears to be overvalued.
The current stock price of $51.67 is trading 1.6% above its estimated GF Value™ of $50.87.
GuruFocus considers Westpac Banking to be Fairly Valued.
Key valuation signals for WBKCY:
PB Ratio: 3.55 (154% above median its 10-year median of 1.40)
GF Value™: $50.87 vs. price of $51.67 (1.6% above fair value)
Industry Position: 228.7% above the Banks median (#1279 of 1516)
No single metric tells the full story. See the WBKCY 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.
46GF Score
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