Qantas Airways (FRA:QAN) EBIT: €1,425 Mil (TTM As of Dec. 2025)


FRA:QAN Qantas Airways Ltd FRA:QAN
83 GF Score
Price €6.48
GF Value €6.71
Valuation Fairly Valued
! 6 Warning Signs
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What is Qantas Airways EBIT?

Qantas Airways FRA:QAN +2.16% 83 EBIT is €1,425 Mil as of Dec. 2025. GuruFocus rates FRA:QAN with a GF Score™ of 83/100 and a GF Value™ of €6.71 (Fairly Valued). The stock has 6 warning signs investors should review.

Qantas Airways's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was €843 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was €1,425 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Qantas Airways's annualized ROC % for the quarter that ended in Dec. 2025 was 6.21%. Qantas Airways's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 16.83%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Qantas Airways's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 10.45%.


Qantas Airways  (FRA:QAN) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Qantas Airways's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=1429.954 * ( 1 - 29.23% )/( (16036.677 + 16534.122)/ 2 )
=1011.9784458/16285.3995
=6.21 %

where

Invested Capital(Q: Jun. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=13183.367 - 1775.77 - ( 1333.803 - max(0, 7177.586 - 2548.506+1333.803))
=16036.677

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=13558.456 - 1789.144 - ( 1106.512 - max(0, 7007.34 - 2242.53+1106.512))
=16534.122

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Qantas Airways's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1685.302/( ( (9686.016 + max(-5607.842, 0)) + (10346.735 + max(-5368.001, 0)) )/ 2 )
=1685.302/( ( 9686.016 + 10346.735 )/ 2 )
=1685.302/10016.3755
=16.83 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(680.166 + 228.604 + 298.031) - (1775.77 + 4191.064 + 847.809)
=-5607.842

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(576.521 + 261.023 + 298.474) - (1789.144 + 35.749 + 4679.126)
=-5368.001

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Qantas Airways's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=1424.602/13638.411
=10.45 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Qantas Airways EBIT Related Terms


Qantas Airways EBIT Historical Data

* Premium members only.

The historical data trend for Qantas Airways's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Qantas Airways EBIT Chart

Qantas Airways Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1,288.15 -580.36 1,710.96 1,310.84 1,424.68

Qantas Airways Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 864.83 441.68 902.99 581.95 842.65

FRA:QAN vs DAL, UAL, LUV: EBIT Comparison

For the Airlines subindustry, Qantas Airways's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Qantas Airways EV-to-EBIT vs Transportation Industry

For the Transportation industry and Industrials sector, Qantas Airways's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Qantas Airways's EV-to-EBIT falls into.


FRA:QAN
83GF Score
Qantas Airways Ltd FRA:QAN
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Qantas Airways EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was €1,425 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of €1,425 Mil mean?
Qantas Airways (FRA:QAN) has a EBIT of €1,425 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Qantas Airways.
Is Qantas Airways' EBIT too high?
Qantas Airways' current EBIT is €1,425 Mil. Overall, Qantas Airways has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Qantas Airways' EBIT compare to DAL and UAL?
Qantas Airways' EBIT of €1,425 Mil can be compared against companies in the Transportation industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Transportation company?
A good EBIT depends on the Transportation industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Qantas Airways. Qantas Airways's current EBIT is €1,425 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Qantas Airways stock overvalued right now?
Based on GuruFocus' analysis, Qantas Airways (FRA:QAN) is currently considered Fairly Valued. The stock's GF Value™ is €6.71, compared to a current price of €6.48 — trading 3.5% below its estimated fair value. The current EBIT is €1,425 Mil. Qantas Airways' overall GF Score™ is 83/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Qantas Airways (FRA:QAN), the current EBIT is €1,425 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Qantas Airways (FRA:QAN) Overvalued in 2026?

Based on GuruFocus' analysis, Qantas Airways stock appears to be undervalued. The current stock price of €6.48 is trading 3.5% below its estimated GF Value™ of €6.71. GuruFocus considers Qantas Airways to be Fairly Valued.

Key valuation signals for FRA:QAN:

  • EBIT: €1,425 Mil
  • GF Value™: €6.71 vs. price of €6.48 (3.5% below fair value)
  • GF Score™: 83/100 with 6 warning signs

No single metric tells the full story. See the FRA:QAN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Qantas Airways Business Description

Address 10 Bourke Road, Mascot, Sydney, NSW, AUS, 2020
Qantas Airways is Australia's largest domestic airline with typically a two thirds market share, effectively competing in a duopoly with Virgin. The company operates a multibrand strategy, with low-cost carrier Jetstar complementing the full-service Qantas brand. Its frequent-flyer loyalty program continues to expand with new partnerships, which are integral to retaining customer loyalty for its core airline business.
83GF Score

Get the complete analysis for FRA:QAN

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€6.48
Price
€6.71
GF Value