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

$2.25

17 Sep
2025

0.000

OPEN

$2.25

0.000

HIGH

$2.26

81,179

LOW

$2.21

TARGET
$3.70 64.4% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ACE . AIZ . AVD . AZJ . BXB . CLX . ERD . 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 35.7 xxx
DPS (cps) xxx 3.0 4.5 xxx
EPS Growth xxx - 5.2% 0.2% xxx
DPS Growth xxx N/A 50.0% xxx
PE Ratio xxx N/A 6.2 xxx
Dividend Yield xxx N/A 2.0% xxx
Div Pay Ratio(%) xxx 8.4% 12.6% xxx

Dividend yield today if purchased 3 years ago: 0.86%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.36

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 © 2025 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

1.0

No. Of Recommendations

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

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

22/08/2025

1

Buy

$3.60

60.00%

The key takeaway from Alliance Aviation Services' FY25 result for Ord Minnett was the business has passed peak net debt with better-than-expected $378.3m at end-June from $425m end-Dec 2024.

Net debt is expected to improve with the company flagging divestment of a further seven Embraer E190 aircrafts. which the broker estimates will reduce net debt to $360m by end-FY26.

FY25 profit before tax met the broker's forecast with the 3c dividend seen as confidence in the balance sheet. 

FY26 profit before tax forecast trimmed by -1%, leading to a cut to target price to $3.60 from $3.70.

Buy retained.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 3.00 cents and EPS of 35.40 cents.
Ord Minnett forecasts a full year FY27 dividend of 3.00 cents and EPS of 36.00 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

Wilsons

17/09/2025

1

Overweight

$2.58

14.67%

Alliance Aviation Services' FY25 result (on August 20) was in line with guidance, though Wilsons notes outlook commentary has driven a recalibration of forecasts and a shift in valuation focus toward yield and net tangible assets (NTA).

The broker reduces operating fleet assumptions, pointing to a more subdued medium-term earnings profile.

Management expects ongoing contract growth in WA and QLD, the first full year of Qantas wet lease operations, and continued focus on cost control. Additional charter activity and aviation services transactions are also being pursued.

Reduced flying should be partially offset by stronger aviation services in FY26, explain the analysts.

The target price is cut to $2.58 from $3.89, with the assumed price earnings ratio lowered to reflect reduced growth. Wilsons notes Alliance still offers an attractive FY27 dividend yield.

FORECAST
Wilsons forecasts a full year FY26 dividend of 12.30 cents and EPS of 35.10 cents.
Wilsons forecasts a full year FY27 dividend of 16.60 cents and EPS of 33.30 cents.
Access Extra Coverage Research History >

AQZ STOCK CHART

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