VIRGIN AUSTRALIA HOLDINGS LIMITED (VGN)
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VGN

VGN - VIRGIN AUSTRALIA HOLDINGS LIMITED

FNArena Sector : Transportation & Logistics
Year End: June
GICS Industry Group : Transportation
Debt/EBITDA: 2.77
Index: ASX300 | ALL-ORDS

Virgin Australia is Australia’s second-largest airline group, operating domestic and short-haul international passenger services alongside charter, cargo and the Velocity Frequent Flyer loyalty program.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.80

02 Sep
2026

-0.010

OPEN

$2.72

-0.36%

HIGH

$2.81

904,981

LOW

$2.72

TARGET
$3.70 32.1% upside
OTHER COMPANIES IN THE SAME SECTOR
ACE . AIZ . AQZ . AVD . AZJ . BWN . BXB . CLX . ERD . FRW . KLS . KSC . LAU . NTD . QAN . SPZ . SST . THL . WTC .
FNARENA'S MARKET CONSENSUS FORECASTS
VGN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 65.4 48.4 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A - 26.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 5.9 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

Estimated Dividend Growth
(Average Of Past Three Years)

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 201620172018201920252026
EPS Basic xxxxxxxxxxxxxxx66.6
DPS All xxxxxxxxxxxxxxx7.6
Sales/Revenue xxxxxxxxxxxxxxx6,324.0 M
Book Value Per Share xxxxxxxxxxxxxxx-29.5
Net Operating Cash Flow xxxxxxxxxxxxxxx1,184.7 M
Net Profit Margin xxxxxxxxxxxxxxx7.93 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201620172018201920252026
Return on Capital Employed xxxxxxxxxxxxxxx-
Return on Invested Capital xxxxxxxxxxxxxxx31.81 %
Return on Assets xxxxxxxxxxxxxxx9.02 %
Return on Equity xxxxxxxxxxxxxxx-
Return on Total Capital xxxxxxxxxxxxxxx33.21 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx302.4 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201620172018201920252026
Short-Term Debt xxxxxxxxxxxxxxx357 M
Long Term Debt xxxxxxxxxxxxxxx2,641 M
Total Debt xxxxxxxxxxxxxxx2,998 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,844 M
Price To Book Value xxxxxxxxxxxxxxx-

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201620172018201920252026
Capex xxxxxxxxxxxxxxx884.0 M
Capex % of Sales xxxxxxxxxxxxxxx13.98 %
Cost of Goods Sold xxxxxxxxxxxxxxx5,364 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx254 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx59 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

28/08/2026

1

Buy

$4.10

46.43%

First read: Virgin Australia's FY26 result was stronger than expected, with underlying PBT up 22% y/y, 7% ahead of expectations and 5% above consensus, despite disruption from the Middle East.

Cash flow was also better than forecast, helping net debt fall to $1.2bn and supporting the first dividend since relisting of 7.6c per share.

Velocity EBIT rose 12.3% y/y, while the transformation program achieved more than $450m of benefits, ahead of the $400m target, with a further $350m-plus targeted in FY27.

The analyst sees flat EBIT guidance as providing some earnings stability as higher fuel costs extend further into FY27, although reduced hedging increases exposure to the fuel headwind.

Buy with $4.10 target price.

FORECAST
UBS forecasts a full year FY26 dividend of 0.00 cents and EPS of 48.00 cents.
UBS forecasts a full year FY27 dividend of 8.00 cents and EPS of 49.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

01/09/2026

1

Buy

$2.90

3.57%

Jarden maintains a Buy rating for Virgin Australia with its target price decreased to $2.90 from $3.15 following an FY26 result featuring underlying NPAT of $404m.

Earnings exceeded consensus expectations by 4% reflecting a broadly in-line operational performance supported by lower net finance costs.

The business declared a fully franked maiden dividend of 7.6c per share, which the analyst views as a quality signal for investors.

Management anticipates 1H27 EBIT to align with the prior corresponding period, expecting revenue initiatives targeting 6% to 8% RASK growth to offset fuel cost headwinds and the roll-off of hedging benefits.

Despite negative earnings per share revisions, the broker considers the stock's forward price-to-earnings multiple of 6x represents a disproportionate discount to competitors, signifying substantial remaining value.
Access Extra Coverage Research History >

VGN STOCK CHART

FNArena News on VGN

1
Australian Broker Call *Extra* Edition – Sep 01, 2026

Sep 01 2026 - Daily Market Reports
2
FNArena Corporate Results Monitor – 28-08-2026

Aug 28 2026 - Australia
3
Rudi’s View: That’s The Way Markets Crumble

Aug 06 2026 - Rudi's View
4
Rudi’s View: Final Preparations For August

Aug 05 2026 - Rudi's View
5
Rudi’s View: Small Cap Favourites, AI & More

Jul 16 2026 - Rudi's View

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