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: 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

$10.20

03 Feb
2026

0.030

OPEN

$10.25

0.29%

HIGH

$10.31

4,898,807

LOW

$10.17

TARGET
$12.44 22.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ACE . AIZ . AQZ . AVD . AZJ . BWN . BXB . CLX . ERD . KLS . KSC . LAU . NTD . QUB . SPZ . SST . THL . WTC .
FNARENA'S MARKET CONSENSUS FORECASTS
QAN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 105.2 116.7 xxx
DPS (cps) xxx 52.8 46.4 xxx
EPS Growth xxx 38.5% 11.0% xxx
DPS Growth xxx N/A - 12.1% xxx
PE Ratio xxx N/A 8.8 xxx
Dividend Yield xxx N/A 4.5% xxx
Div Pay Ratio(%) xxx 50.2% 39.8% xxx

Dividend yield today if purchased 3 years ago: 8.22%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.15

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

0.8

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

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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Ord Minnett

11/11/2025

1

Buy

$13.00

27.45%

In a trading update at the AGM, management at Qantas Airways flagged a material rise in FY26 fuel costs, with refining margins for jet fuel climbing to US$29 from US$17 at the FY25 result, highlights Ord Minnett.

The broker estimates the -$600m fuel headwind would require more than a 3% lift in unit revenue to offset, though the airline has already reduced capacity by -1% and plans fare increases.

Guidance for growth in international division revenue per available seat kilometre (RASK) of 2-3% in H1 was reiterated, with “demand stable across key markets.”

Ord Minnett retains a Buy rating and lowers its target to $13 from $13.80.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$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

21/01/2026

1

Buy

$12.70

24.51%

International travel strength is expected to underpin Qantas Airways’ 1H26 result, with Jarden pointing to resilient yields and disciplined capacity management across long-haul routes as the key earnings support.

The broker notes domestic conditions are softer, with margins likely to moderate as capacity rebuilds and competitive pressures gradually return, though premium travel demand remains supportive.

Jarden believes balance sheet strength provides flexibility for capital management, with guidance commentary and yield trends into 2H26 expected to drive investor sentiment at the result.

No change to Buy rating and $12.70 target with the analyst retaining earnings forecasts.

FORECAST
Jarden forecasts a full year FY26 dividend of 32.80 cents and EPS of 117.60 cents.
Jarden forecasts a full year FY27 dividend of 37.40 cents and EPS of 126.80 cents.
Access Extra Coverage Research History >

QAN STOCK CHART

FNArena News on QAN

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