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Financial distress

Qantas Airways

ASX:QAN · AU000000QAN2
AirlinesX-Large

360

49
EV / EBIT77
Price / Owner Earnings89
Owner Earnings Yield1
Dividend Yield87
Price/Sales65
EV / Gross Profit92
Price/Book1
Return on Capital98
Cash Return on Capital6
Return on Equity100
EBIT Margin47
Gross Profitability94
Cash Conversion54
Accruals15
Owner Earnings Margin16
Sales growth56
Profit Growth93
Long-Term EPS Growth48
Reinvestment57
Price momentum23
Debt load8
Refinancing17
Debt Payback1
Liquidity59
Analyst ratings83
Opinion Changes50
Price Target Upside67
Market mood15
Value Creation8/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Qantas Airways clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryAustralia
IndustryAirlines
SizeX-Large
TypePublic Company
ExchangeASX
Founded1934
Employees11,778
ISINAU000000QAN2
Last UpdateApr 2, 2026
Themes
Freight ServiceBusiness TravelSustainable Aviation Fuel (SAF)Travel Accommodations

Description

Qantas Airways Limited is primarily engaged in providing domestic and international passenger and freight services in Australia and internationally. Business Segments The company operates through Passenger Services, Freight Services, and Loyalty Pr…

Analysis

Middle-of-the-road

Qantas Airways Limited is a middle-of-the-road business: neither the economics nor the price stand out from the peer group. One caution: reported profits have recently run ahead of actual cash, which we track closely.

Valuation data is not available for this company.

The trajectory is tepid and the balance sheet is adequate. The company scores 8/20 on our value-creation score: creating some value.

What to watch: Some accounting patterns deserve a closer look. Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
53
2023202420252026

All-time high

77

Oct 2025

All-time low

20

Jun 2024

Average rank

54

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
65
80
91
83
Price/Earnings
74
91
100
1
Price/Book
1
1
14
100
Dividend Yield
87
88
41
36
Value (overall)
57
77
70
62

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →