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

$10.71

25 Jun
2026

0.420

OPEN

$10.59

4.08%

HIGH

$10.80

11,053,370

LOW

$10.54

TARGET
$10.93 2.1% 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 FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 85.4 96.0 xxx
DPS (cps) xxx 39.6 39.3 xxx
EPS Growth xxx - 18.8% 12.5% xxx
DPS Growth xxx - 25.0% - 0.7% xxx
PE Ratio xxx N/A 9.1 xxx
Dividend Yield xxx N/A 4.5% xxx
Div Pay Ratio(%) xxx 46.4% 40.9% xxx

Dividend yield today if purchased 3 years ago: 7.06%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.55

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

1.0

No. Of Recommendations

5
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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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

23/06/2026

1

Overweight

$10.60

-1.03%

Morgan Stanley is more confident following the recent showcase from Qantas Airways/Airbus in Toulouse, France. As execution of Project Sunrise progresses the broker envisages scope for a re-rating of Qantas International.

From October 2027 Qantas plans to operate daily non-stop flights between Sydney and London and the first 12 Project Sunrise aircraft should be received in April 2027.

The broker points out this is an extension of an existing, successful ultra long-haul strategy which could save consumers 3-4 hours of travel time in exchange for a 15%-20% ticket price premium.

Morgan Stanley reiterates an Overweight rating with a $10.60 target. Industry view: In line.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 36.00 cents and EPS of 91.00 cents.
Morgan Stanley forecasts a full year FY27 dividend of 38.00 cents and EPS of 96.00 cents.

Citi

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

22/06/2026

1

Buy

$11.25

5.04%

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 optimised 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 formalised.

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

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Apr 26 2022 - Australia
3
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Mar 15 2021 - Australia