Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.
Grace is an investment writer and research contributor with hands-on experience analysing listed companies, financial results, market trends, and long-term investment opportunities.
Her work focuses on making complex financial ideas clear, practical, and engaging for everyday investors. She has a strong interest in equity markets, business fundamentals, long-term investing, and the role quality companies and exchange-traded funds (ETFs) can play in wealth creation over time.
Grace brings a detail-oriented and analytical approach to her writing, supported by her current studies in a Bachelor of Business, majoring in Economics, Finance and Trade. She also brings real-world experience from customer-focused and target-driven environments, which has helped shape her disciplined, deadline-focused approach to research and communication.
Areas of Expertise
ASX-listed companies
Global equities
ETFs
Fundamental analysis
Company earnings
Financial reports
Long-term investing
Compounding
Growth investing
Market trends
Investor education
Education
Grace is currently studying a Bachelor of Business, majoring in Economics, Finance and Trade.
Favourite Investment Quote
“Long ago, Ben Graham taught me that ‘Price is what you pay; value is what you get.”
— Warren Buffett
Published
Some of the ASX's biggest shares have earned their popularity for good reason.
ANZ Group Holdings Ltd (ASX: ANZ) and Telstra Group Ltd (ASX: TLS) are familiar favourites among income investors, while Rio Tinto Ltd (ASX: RIO) offers exposure to global demand for commodities.
Meanwhile, CSL Ltd (ASX: CSL) and ResMed Inc (ASX: RMD) have built world-class healthcare businesses with considerable long-term growth opportunities.
I can understand why investors would want to own all five.
But are these ASX shares actually good value at today's prices, compared with what investors have historically been willing to pay for them?
I looked back over 10 years of valuations to find out. And only two stood out as cheap.
Image source: Getty Images
ANZ shares
I like ANZ shares as a long-term investment. Its banking operations across Australia and New Zealand, together with Suncorp Bank, provide opportunities to grow and improve efficiency.
Its latest trading update also showed encouraging progress, including stronger business lending and improving cost control.
But the valuation makes me slightly hesitant. At around $40.10, ANZ trades on a price-to-earnings (PE) ratio of 15.6 times expected FY26 earnings, based on CommSec consensus forecasts. Its FY27 multiple is also similar, at 15.7 times.
Over the last decade, ANZ's median PE ratio was approximately 12.4 times.
So investors are paying around 25% more than its historical norm, even though earnings per share are expected to remain broadly flat between FY26 and FY27.
That doesn't mean ANZ shares won't deliver attractive returns. Management could improve profitability as its strategy progresses.
However, I don't think ANZ stands out as cheap at the moment.
But don't worry, because after running the same comparison on the remaining four ASX shares, I found two companies whose numbers are considerably more attractive.
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