QANTAS AIRWAYS LIMITED (QAN)
Share Price Analysis and Chart

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QAN

QAN - QANTAS AIRWAYS LIMITED

FNArena Sector : Transportation & Logistics
Year End: June
GICS Industry Group : Transportation
Debt/EBITDA: 2.47
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

$8.80

02 Nov
2026

0.010

OPEN

$8.79

0.11%

HIGH

$8.82

6,861,108

LOW

$8.63

TARGET
$11.142

-0.13 change from previous day

 26.6% 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 . SPZ . SST . THL . VGN . WTC .
FNARENA'S MARKET CONSENSUS FORECASTS
QAN: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 85.4 92.0 xxx
DPS (cps) xxx 39.6 39.1 xxx
EPS Growth xxx - 18.8% 7.8% xxx
DPS Growth xxx - 25.0% - 1.2% xxx
PE Ratio xxx N/A 10.2 xxx
Dividend Yield xxx N/A 4.2% xxx
Div Pay Ratio(%) xxx 46.4% 42.5% xxx

Dividend yield today if purchased 3 years ago: 7.64%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.23

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: 15/09 - ex-div 19.80c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx85.4
DPS All xxxxxxxxxxxxxxx39.6
Sales/Revenue xxxxxxxxxxxxxxx25,189.0 M
Book Value Per Share xxxxxxxxxxxxxxx100.2
Net Operating Cash Flow xxxxxxxxxxxxxxx3,771.0 M
Net Profit Margin xxxxxxxxxxxxxxx5.12 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx113.22 %
Return on Invested Capital xxxxxxxxxxxxxxx13.54 %
Return on Assets xxxxxxxxxxxxxxx5.12 %
Return on Equity xxxxxxxxxxxxxxx113.22 %
Return on Total Capital xxxxxxxxxxxxxxx18.41 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-901.0 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx905 M
Long Term Debt xxxxxxxxxxxxxxx9,447 M
Total Debt xxxxxxxxxxxxxxx10,352 M
Goodwill - Gross xxxxxxxxxxxxxxx270 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx3,274 M
Price To Book Value xxxxxxxxxxxxxxx10.60

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx3,972.0 M
Capex % of Sales xxxxxxxxxxxxxxx15.77 %
Cost of Goods Sold xxxxxxxxxxxxxxx20,376 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx2,917 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx247 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

0.9

No. Of Recommendations

6
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

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

04/09/2026

1

Overweight

$12.80

45.45%

Morgan Stanley reiterates its Overweight rating on Qantas Airways, viewing the airline as its highest-conviction idea amongst Australian Industrials under coverage following FY26 results.

The broker expects resilient demand and pricing to help offset higher fuel costs. It's also felt the market underestimates the earnings potential of the International business as premium capacity and new aircraft increase.

International earnings (EBIT) of $1.28bn are forecast by FY31, with margins from circa 4% towards around 10%.

Despite improving earnings quality, Qantas trades around -20% below the global airline peer median on FY27 PE, supporting the broker's $12.80 target. Industry view: In line.

FORECAST
Morgan Stanley forecasts a full year FY27 dividend of 35.00 cents and EPS of 94.20 cents.
Morgan Stanley forecasts a full year FY28 dividend of 48.00 cents and EPS of 127.20 cents.

Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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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

03/11/2026

1

Buy

$10.20

15.91%

Jarden maintains a Buy rating for Qantas Airways with its target price lowered to $10.20 from $12.60 ahead of an anticipated trading update prior to the company's AGM on November 6.

The analyst expects the update to focus on 1H27 fuel guidance and commentary regarding the revenue and demand environment.

While the market has largely absorbed higher near-term fuel costs, Jarden warns that the second half of FY27 could face dual risks from sustained fuel costs and potentially softer TRASK growth, which would hamper cost recovery efforts.

The broker reduces FY27 EPS estimates by -8.5% and FY28 estimates by -5%.
Access Extra Coverage Research History >

QAN STOCK CHART

FNArena News on QAN

1
Australian Broker Call *Extra* Edition – Nov 03, 2026

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2
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4
Rudi’s View: Australia Remains Outside The AI Party

Sep 09 2026 - Rudi's View
5
Rudi’s View: Resources, Healthcare & Best Buys

Sep 03 2026 - Rudi's View

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