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Qantas AirwaysASX:QAN -1.18%85 EV-to-EBITDA is 4.40 as of Aug. 21, 2026, which is 2% below its 10-year median of 4.47. GuruFocus rates ASX:QAN with a GF Score™ of 85/100 and a GF Value™ of A$11.16 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 900 Transportation companies, Qantas Airways ranks better than 83% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Qantas Airways's enterprise value is A$20,460 Mil.
Qantas Airways's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was A$4,647 Mil. Therefore, Qantas Airways's EV-to-EBITDA for today is 4.40.
The historical rank and industry rank for Qantas Airways's EV-to-EBITDA or its related term are showing as below:
ASX:QAN'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -164.23 Med: 4.47 Max: 17.08
Current: 4.4
During the past 13 years, the highest EV-to-EBITDA of Qantas Airways was 17.08. The lowest was -164.23. And the median was 4.47.
ASX:QAN's EV-to-EBITDA is ranked better than 83% of 900
companies
in the Transportation industry
Industry Median: 8.46
vs ASX:QAN: 4.40
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Qantas Airways's PE Ratio (TTM) for today is calculated as:
Qantas Airways's share price for today is A$9.25.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Qantas Airways's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was A$1.056.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Qantas Airways's EV-to-EBITDA 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.
For the Airlines subindustry, Qantas Airways's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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-EBITDA vs Transportation Industry
For the Transportation industry and Industrials sector, Qantas Airways's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Qantas Airways's EV-to-EBITDA falls into.
Qantas Airways's current Enterprise Value is A$20,460 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Qantas Airways's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was A$4,647 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.
Qantas Airways (ASX:QAN) has a EV-to-EBITDA of 4.40 as of Aug. 21, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Qantas Airways. This is near median its historical median of 4.47. According to the industry distribution chart, Qantas Airways ranks #153 out of 900 companies in the Transportation industry, placing it in the top 17%.
Is Qantas Airways' EV-to-EBITDA too high?
Qantas Airways' current EV-to-EBITDA of 4.40 is near median its 10-year median of 4.47. The Transportation industry median EV-to-EBITDA is 8.46. Qantas Airways' value of 4.40 is 48% below this industry median. Based on the distribution chart, Qantas Airways ranks #153 out of 900 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Qantas Airways has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Qantas Airways' EV-to-EBITDA compare to DAL and UAL?
According to the Transportation industry distribution chart, Qantas Airways ranks #153 out of 900 companies for EV-to-EBITDA. This places Qantas Airways in the top 17% of its industry — outperforming the majority of peers. The industry median EV-to-EBITDA is 8.46. Qantas Airways' value of 4.40 is 48% below this benchmark. While the company's 10-year median is 4.47 vs. the industry median of 8.46, Qantas Airways has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for a Transportation company?
The median EV-to-EBITDA among Transportation companies is 8.46, based on 900 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Qantas Airways's current EV-to-EBITDA of 4.40 is 48% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Qantas Airways. For the Transportation industry, the median EV-to-EBITDA is 8.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Qantas Airways's current EV-to-EBITDA is 4.40, which is near median its own 10-year median of 4.47. 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 (ASX:QAN) is currently considered Modestly Undervalued. The stock's GF Value™ is A$11.16, compared to a current price of A$9.25 — trading 17.1% below its estimated fair value. The current EV-to-EBITDA is 4.40, which is near median its 10-year median of 4.47 and 48% below the Transportation industry median of 8.46. Qantas Airways' overall GF Score™ is 85/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Qantas Airways (ASX:QAN), the current EV-to-EBITDA is 4.40 as of Aug. 21, 2026. 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 (ASX:QAN) Overvalued in 2026?
Based on GuruFocus' analysis, Qantas Airways stock appears to be undervalued.
The current stock price of A$9.25 is trading 17.1% below its estimated GF Value™ of A$11.16.
GuruFocus considers Qantas Airways to be Modestly Undervalued.
Key valuation signals for ASX:QAN:
EV-to-EBITDA: 4.40 (near median its 10-year median of 4.47)
GF Value™: A$11.16 vs. price of A$9.25 (17.1% below fair value)
Industry Position: 48% below the Transportation median (#153 of 900)
No single metric tells the full story. See the ASX:QAN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
85GF Score
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