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

$9.99

18 Jun
2026

0.010

OPEN

$9.98

0.10%

HIGH

$10.09

6,251,162

LOW

$9.95

TARGET
$10.73 7.4% 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 96.6 xxx
DPS (cps) xxx 52.8 39.8 xxx
EPS Growth xxx 38.5% - 8.2% xxx
DPS Growth xxx N/A - 24.6% xxx
PE Ratio xxx N/A 10.4 xxx
Dividend Yield xxx N/A 4.0% xxx
Div Pay Ratio(%) xxx 50.2% 41.2% xxx

Dividend yield today if purchased 3 years ago: 8.02%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.25

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

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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Macquarie

06/05/2026

1

Outperform

$11.00

10.11%

Macquarie notes from its 2026 conference that Qantas Airways is benefiting from reduced international capacity into Australia, supporting strong demand and load factors across key long-haul routes.

The broker highlights resilient travel demand, with management continuing to see travel as the top discretionary spend priority.

Macquarie points to an agile response to higher fuel costs, alongside confidence in fuel supply and a consistent hedging strategy.

Fleet strategy and AI-driven efficiency initiatives remain key earnings drivers. Outperform. Target $11.

FORECAST
Macquarie forecasts a full year FY26 dividend of 40.00 cents and EPS of 105.30 cents.
Macquarie forecasts a full year FY27 dividend of 40.00 cents and EPS of 107.80 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$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

18/06/2026

1

Buy

$11.25

12.61%

Jarden maintains its Buy rating for Qantas Airways with a static $11.25 target price following an investment community showcase event for Project Sunrise in Toulouse.

The aviation infrastructure deployment utilizes Airbus A350-1000ULR aircraft to underpin non-stop operations from Sydney to London starting in October 2027.

The analyst notes the core economic thesis targets a $400m EBIT contribution at full twelve-aircraft fleet scale by roughly FY30, leveraging an estimated 20% network yield premium driven by denser premium cabin seating configurations.

Network structures are systematically optimized via an Eastern and Western dual-hub layout to aggregate and capture regional trans-Tasman feeder traffic.

Financial models remain unadjusted ahead of the carrier's broader financial results release in August where fleet retirement frameworks for older widebody assets are expected to be formalized.

FORECAST
Jarden forecasts a full year FY26 dividend of 39.60 cents and EPS of 90.40 cents.
Jarden forecasts a full year FY27 dividend of 39.00 cents and EPS of 95.00 cents.
Access Extra Coverage Research History >

QAN STOCK CHART

FNArena News on QAN

Latest Transportation & Logistics News

1
Brambles: Worth Holding

May 17 2022 - Technicals
2
Brambles In The Weeds Over Plastic Indecision

Apr 26 2022 - Australia
3
Treasure Chest: Brambles Sour On The Palate

Dec 21 2021 - Treasure Chest
4
Treasure Chest: Aurizon, ESG Victim

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5
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Nov 12 2021 - Treasure Chest
6
Qantas: Just Watch For Now

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Brambles Has Great Expectations For Plastic

Sep 16 2021 - Australia
8
Tough Ask As Aurizon Speeds Up Bulk Haulage

Aug 11 2021 - Australia
9
Charting A New Course In The Shipping Industry

Jun 09 2021 - International
10
Qantas On Recovery Route, Profits A Bit Longer

Mar 15 2021 - Australia