Westpac Banking annual debt-to-equity ratio
2020
2021
2022
2023
2024
Westpac Banking Debt-to-Equity Ratio Growth & History (WEBNF)
Westpac Banking's debt-to-equity ratio was 2.89 for fiscal 2024.
View full Westpac Banking company overviewWestpac Banking annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2024 | 2024-09-30 | 2.89 | 0.27 | +10.38% |
| 2023 | 2023-09-30 | 2.62 | 0.12 | +4.70% |
| 2022 | 2022-09-30 | 2.50 | 0.31 | +14.09% |
| 2021 | 2021-09-30 | 2.19 | 2.15 | +4995.89% |
| 2020 | 2020-09-30 | 0.04 | — | — |
Westpac Banking quarterly debt-to-equity ratio
Q4.20
Q2.25
Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-03-31 | 3.19 | 0.24 | +8.06% |
| Q2 2025 | 2025-03-31 | 2.95 | — | — |
| Q4 2020 | 2020-09-30 | 0.04 | — | — |
Westpac Banking debt-to-equity ratio trends
Between the periods ended 2020-09-30 and 2024-09-30, Westpac Banking's debt-to-equity ratio increased from 0.04 to 2.89, a change of 2.85. The latest reported quarter, Q2 2026, shows 3.19.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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