QANTAS AIRWAYS LIMITED (QAN)
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QAN

QAN - QANTAS AIRWAYS LIMITED

FNArena Sector : Transportation & Logistics
Year End: June
GICS Industry Group : Transportation
Debt/EBITDA: 1.96
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Founded in Queensland in 1920, Qantas is Australia's largest domestic and international airline. Qantas was gradually privatised between 1993 and 1997 with the legislation stating Qantas must be at least 51% owned by Australian shareholders.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$9.19

05 Jun
2026

0.040

OPEN

$9.17

0.44%

HIGH

$9.25

1,610,031

LOW

$9.15

TARGET
$10.75 17.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ACE . AIZ . AQZ . AVD . AZJ . BWN . BXB . CLX . ERD . FRW . KLS . KSC . LAU . NTD . QUB . SPZ . SST . THL . VGN . WTC .
FNARENA'S MARKET CONSENSUS FORECASTS
QAN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 105.2 96.9 xxx
DPS (cps) xxx 52.8 39.9 xxx
EPS Growth xxx 38.5% - 7.9% xxx
DPS Growth xxx N/A - 24.4% xxx
PE Ratio xxx N/A 9.5 xxx
Dividend Yield xxx N/A 4.3% xxx
Div Pay Ratio(%) xxx 50.2% 41.2% xxx

Dividend yield today if purchased 3 years ago: 8.53%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.75

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: 16/09 - ex-div 16.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx105.2
DPS All xxxxxxxxxxxxxxx52.8
Sales/Revenue xxxxxxxxxxxxxxx23,409.0 M
Book Value Per Share xxxxxxxxxxxxxxx52.1
Net Operating Cash Flow xxxxxxxxxxxxxxx4,140.0 M
Net Profit Margin xxxxxxxxxxxxxxx6.86 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx300.84 %
Return on Invested Capital xxxxxxxxxxxxxxx22.34 %
Return on Assets xxxxxxxxxxxxxxx7.31 %
Return on Equity xxxxxxxxxxxxxxx300.84 %
Return on Total Capital xxxxxxxxxxxxxxx25.86 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-65.0 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 xxxxxxxxxxxxxxx643 M
Long Term Debt xxxxxxxxxxxxxxx7,313 M
Total Debt xxxxxxxxxxxxxxx7,956 M
Goodwill - Gross xxxxxxxxxxxxxxx270 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,213 M
Price To Book Value xxxxxxxxxxxxxxx20.63

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx3,805.0 M
Capex % of Sales xxxxxxxxxxxxxxx16.25 %
Cost of Goods Sold xxxxxxxxxxxxxxx18,558 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx2,831 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx226 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

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

16/04/2026

1

Buy

$11.25

22.42%

UBS updates its forecasts for Qantas Airways to reflect recent fuel price volatility, with higher oil prices expected to materially increase near-term fuel costs.

FY26-FY27 earnings forecasts are lowered to incorporate elevated fuel expenses, partly offset by hedging, fare increases and capacity adjustments, while longer-term impacts are expected to be more modest.

Despite the near-term headwinds, UBS views the disruption as temporary and highlights Qantas’ improved resilience, supporting its ability to navigate volatility.

UBS retains a Buy rating and lowers its target to $11.25 from $11.60.

This is a summary of UBS research released yesterday.

FORECAST
UBS forecasts a full year FY26 dividend of 40.00 cents and EPS of 94.00 cents.
UBS forecasts a full year FY27 dividend of 41.00 cents and EPS of 112.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

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Login above or Get a Free Trial

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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

Jarden

05/06/2026

1

Buy

$11.25

22.42%

Jarden maintains a Buy rating for Qantas Airways with a $11.25 target price following an analysis of international airline capacity and market share data.

Scheduled market capacity is expected to experience an 11% snap back through July 2026, driven by an expansion of seats from Asian discount operators and Chinese carriers.

The broker says deep capacity cuts from Middle East airlines during recent geopolitical conflict are poised to recover fully over the initial half of FY27.

North American route capacity remains structurally resilient, supporting incremental market share gains from United Airlines.

Core normalised earnings estimates remain completely unchanged as intermediate domestic and international group performance tracks in line with expectations.

FORECAST
Jarden forecasts a full year FY26 EPS of 90.40 cents.
Jarden forecasts a full year FY27 EPS of 95.00 cents.
Access Extra Coverage Research History >

QAN STOCK CHART

FNArena News on QAN

1
Australian Broker Call *Extra* Edition – Jun 05, 2026

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2
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May 22 2026 - Weekly Reports
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Rudi’s View: AI Is Making A Come-Back

May 13 2026 - Rudi's View
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Next Week At A Glance – 27-24 Apr 2026

Apr 24 2026 - Weekly Reports

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