ALLIANCE AVIATION SERVICES LIMITED (AQZ)
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AQZ

AQZ - ALLIANCE AVIATION SERVICES LIMITED

FNArena Sector : Transportation & Logistics
Year End: June
GICS Industry Group : Transportation
Debt/EBITDA: 2.59
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.625

04 Mar
2026

-0.010

OPEN

$0.63

-1.57%

HIGH

$0.65

492,999

LOW

$0.62

TARGET
$0.80 28.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ACE . AIZ . AVD . AZJ . BWN . BXB . CLX . ERD . FRW . KLS . KSC . LAU . NTD . QAN . QUB . SPZ . SST . THL . WTC .
FNARENA'S MARKET CONSENSUS FORECASTS
AQZ: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 35.6 - 23.0 xxx
DPS (cps) xxx 3.0 0.0 xxx
EPS Growth xxx - 5.2% N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx 8.4% N/A xxx

Dividend yield today if purchased 3 years ago: 0.86%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.48

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

Last ex-div: 16/03 - ex-div 7.3c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx35.6
DPS All xxxxxxxxxxxxxxx3.0
Sales/Revenue xxxxxxxxxxxxxxx760.9 M
Book Value Per Share xxxxxxxxxxxxxxx291.1
Net Operating Cash Flow xxxxxxxxxxxxxxx105.6 M
Net Profit Margin xxxxxxxxxxxxxxx7.53 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx13.04 %
Return on Invested Capital xxxxxxxxxxxxxxx6.61 %
Return on Assets xxxxxxxxxxxxxxx5.20 %
Return on Equity xxxxxxxxxxxxxxx13.04 %
Return on Total Capital xxxxxxxxxxxxxxx12.10 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-70.0 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx16 M
Long Term Debt xxxxxxxxxxxxxxx497 M
Total Debt xxxxxxxxxxxxxxx513 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx96 M
Price To Book Value xxxxxxxxxxxxxxx0.90

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx175.7 M
Capex % of Sales xxxxxxxxxxxxxxx23.09 %
Cost of Goods Sold xxxxxxxxxxxxxxx630 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx24 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

0.0

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Ord Minnett

23/02/2026

3

Hold

$0.85

36.00%

Ord Minnett lowers its target for Alliance Aviation Services to 85c from $1.50 after interim profit (PBT) of $14.8m came in well below the broker's $25.6m forecast. FY26 guidance was also downgraded by -21.9% to $35-40m.

Net debt remains a structural headwind for Alliance, suggest the analysts, increasing to $433.5m at the end of 2025 from $378.3m at June 30, 2025. Impairments of -$164.8m, announced earlier this month, were also incorporated into the result.

The broker highlights a loss-making wet lease contract with Qantas Airways ((QAN)) which continues to weigh on earnings. It's thought aircraft sales remain a potential option to protect equity value.

The Hold rating is maintained.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 0.00 cents and EPS of 17.80 cents.
Ord Minnett forecasts a full year FY27 dividend of 0.00 cents and EPS of 20.10 cents.
Access Stockbroker Research History >
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

Canaccord Genuity

26/02/2026

3

Hold

$0.81

29.60%

Canaccord Genuity slashes its target price for Alliance Aviation Services to $0.81 from $1.49 and maintains a Hold rating following a disappointing 1H26 result.

Profit of $11.9m fell -58.8% on the prior year and missed the broker's forecast, driven by lower earnings (EBITDA).

Operating cash flow (OCF) was -$5.8m and free cash flow (FCF) was -$24m, leaving debt facilities fully drawn and cash at $58m, highlight the analysts. The balance sheet is seen as precarious with execution risk around fleet revisions and asset sales.

FY26 profit guidance was cut to $35-$40m from $46-$50m, with margins pressured by unfavourable wet lease contracts and a loss in Aviation Services, explains the broker.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 16.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 20.00 cents.
Access Extra Coverage Research History >

AQZ STOCK CHART

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