` Comparison: ANZ, WBC - Alpha Spread

ANZ
vs
WBC

Over the past 12 months, ANZ has outperformed WBC, delivering a return of +26% compared to the WBC's +20% growth.

Valuation Growth Profitability Solvency Stocks Performance
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ANZ
WBC
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Stocks Compared:
ANZ WBC
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Valuation Comparison

ANZ Intrinsic Value
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WBC Intrinsic Value
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Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Australia and New Zealand Banking Group Ltd
NZX:ANZ
40.45 NZD
Westpac Banking Corp
ASX:WBC
38.28 AUD
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Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
ANZ, WBC

ANZ
WBC
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
Australia and New Zealand Banking Group Ltd
Revenue
Westpac Banking Corp
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
ANZ, WBC

ANZ
WBC
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
Australia and New Zealand Banking Group Ltd
NZX:ANZ
FCF is not applicable for financial companies
Westpac Banking Corp
ASX:WBC
FCF is not applicable for financial companies
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What is Free Cash Flow?

Gross Margin

ANZ
WBC
LTM 3Y Avg 5Y Avg 10Y Avg
Australia and New Zealand Banking Group Ltd
Not applicable for financial companies
Westpac Banking Corp
Not applicable for financial companies

Operating Margin

ANZ
WBC
LTM 3Y Avg 5Y Avg 10Y Avg
Australia and New Zealand Banking Group Ltd
Not applicable for financial companies
Westpac Banking Corp
Not applicable for financial companies

Net Margin

ANZ
24.9%
WBC
31.4%

FCF Margin

ANZ
WBC
LTM 3Y Avg 5Y Avg 10Y Avg
Australia and New Zealand Banking Group Ltd
Not applicable for financial companies
Westpac Banking Corp
Not applicable for financial companies

ROE

ANZ
8.4%
WBC
9.6%

ROA

ANZ
0.5%
WBC
0.7%

ROIC

ANZ
WBC
LTM 3Y Avg 5Y Avg 10Y Avg
Australia and New Zealand Banking Group Ltd
Not applicable for financial companies
Westpac Banking Corp
Not applicable for financial companies

ROCE

ANZ
WBC
LTM 3Y Avg 5Y Avg 10Y Avg
Australia and New Zealand Banking Group Ltd
Not applicable for financial companies
Westpac Banking Corp
Not applicable for financial companies

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
ANZ, WBC

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ANZ
WBC
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Performance Gap
ANZ, WBC

Performance Gap Between ANZ and WBC
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Performance By Year
ANZ, WBC

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ANZ
WBC
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