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: 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

$8.55

12 Oct
2026

0.030

OPEN

$8.57

0.35%

HIGH

$8.59

3,139,945

LOW

$8.49

TARGET
$11.30

-0.18 change from previous day

 32.2% 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 93.6 xxx
DPS (cps) xxx 39.6 39.3 xxx
EPS Growth xxx - 18.8% 9.7% xxx
DPS Growth xxx - 25.0% - 0.7% xxx
PE Ratio xxx N/A 8.9 xxx
Dividend Yield xxx N/A 4.7% xxx
Div Pay Ratio(%) xxx 46.4% 42.0% xxx

Dividend yield today if purchased 3 years ago: 7.89%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.77

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

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

31/08/2026

1

Buy

$11.50

34.50%

Citi makes only modest forecast changes to earnings forecasts despite higher fuel cost assumptions, supported by stronger Qantas expectations across both domestic and international markets. Target price rises by 10c to $11.50. Buy rating retained.

Higher yields and load factors are expected to underpin the improvement, although the strength of consumer and corporate demand remains a potential risk.

The analyst remains cautiously optimistic about the recovery strategy and the airline's ability to exercise pricing power. 

First Take: Qantas Airways' FY26 underlying profit before tax (PBT) of $2.06bn was around 3% ahead of consensus, according to Citi.

Domestic earnings (EBIT) missed consensus by -7%, while International was broadly in line with the broker's forecast. Jetstar earnings beat by 6%, supported by strong leisure demand, while Loyalty remained resilient, commentary adds.

For first-half FY27, management expects unit revenue to rise 8%-10%, helping offset a significant increase in fuel costs.

Citi estimates revenue could beat consensus by around $300m, while lower depreciation should limit the impact of higher fuel on profit.

Target $11.40. Buy.

UBS

xx/xx/xxxx

1

xxx

$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

01/09/2026

1

Buy

$12.60

47.37%

Jarden maintains a Buy rating for Qantas Airways with its target price increased to $12.60 from $11.35 following an FY26 result featuring underlying profit before tax of $2.06bn.

The profit result exceeded consensus expectations by 3%, supported by lower second-half fuel costs and successful cost-reduction measures.

Management guidance for 1H27 points to TRASK growth of 8%-10%, which is expected to largely offset a projected $3.6bn fuel bill.

The broker notes a de-risking signal with FY27 net capital expenditure guidance reduced to between $4.3bn and $4.6bn, even as financial leverage is forecast to rise.

Jarden attributes the positive outlook to competitive rationality rather than fuel price recovery, cutting FY27 earnings per share forecasts by -4% while upgrading FY28 and FY29 estimates to reflect A380 retirement benefits and Project Sunrise contributions.
Access Extra Coverage Research History >

QAN STOCK CHART

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