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Qantas AirwaysASX:QAN +0.85%80 Return-on-Tangible-Asset is 8.03% as of Dec. 2025, which is 107% above its 10-year median of 3.88. GuruFocus rates ASX:QAN with a GF Score™ of 80/100 and a GF Value™ of A$11.13 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,009 Transportation companies, Qantas Airways ranks better than 74.73% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Qantas Airways's annualizedNet Income for the quarter that ended in Dec. 2025 was A$1,850 Mil. Qantas Airways's average total tangible assets for the quarter that ended in Dec. 2025 was A$23,036 Mil. Therefore, Qantas Airways's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 8.03%.
The historical rank and industry rank for Qantas Airways's Return-on-Tangible-Asset or its related term are showing as below:
ASX:QAN'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -6.83 Med: 3.88 Max: 9.06
Current: 7.17
During the past 13 years, Qantas Airways's highest Return-on-Tangible-Asset was 9.06%. The lowest was -6.83%. And the median was 3.88%.
ASX:QAN's Return-on-Tangible-Asset is ranked better than 74.73% of 1009
companies
in the Transportation industry
Industry Median: 3.75
vs ASX:QAN: 7.17
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Qantas Airways Return-on-Tangible-Asset Related Terms
Qantas Airways Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Qantas Airways's Return-on-Tangible-Asset 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.
ASX:QAN vs DAL, UAL, LUV: Return-on-Tangible-Asset Comparison
For the Airlines subindustry, Qantas Airways's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Transportation Industry
For the Transportation industry and Industrials sector, Qantas Airways's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Qantas Airways's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is two times the semi-annual (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 8.03% mean?
Qantas Airways (ASX:QAN) has a Return-on-Tangible-Asset of 8.03% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Qantas Airways and its competitors. This is 107% above median its historical median of 3.88. According to the industry distribution chart, Qantas Airways ranks #255 out of 1009 companies in the Transportation industry, placing it in the top 25.3%.
Is Qantas Airways' Return-on-Tangible-Asset too high?
Qantas Airways' current Return-on-Tangible-Asset of 8.03% is 107% above median its 10-year median of 3.88. The Transportation industry median Return-on-Tangible-Asset is 3.75. Qantas Airways' value of 8.03% is 114.1% above this industry median. Based on the distribution chart, Qantas Airways ranks #255 out of 1009 companies in the Transportation industry, which is above the industry midpoint. Overall, Qantas Airways has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Qantas Airways' Return-on-Tangible-Asset compare to DAL and UAL?
According to the Transportation industry distribution chart, Qantas Airways ranks #255 out of 1009 companies for Return-on-Tangible-Asset. This puts Qantas Airways in the upper half of its industry. The industry median Return-on-Tangible-Asset is 3.75. Qantas Airways' value of 8.03% is 114.1% above this benchmark. While the company's 10-year median is 3.88 vs. the industry median of 3.75, Qantas Airways has consistently been above 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 Return-on-Tangible-Asset for a Transportation company?
The median Return-on-Tangible-Asset among Transportation companies is 3.75, based on 1,009 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Qantas Airways's current Return-on-Tangible-Asset of 8.03% is 114.1% above 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Qantas Airways and its competitors. For the Transportation industry, the median Return-on-Tangible-Asset is 3.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Qantas Airways's current Return-on-Tangible-Asset is 8.03%, which is 107% above median its own 10-year median of 3.88. 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 Fairly Valued. The stock's GF Value™ is A$11.13, compared to a current price of A$10.69 — trading 4% below its estimated fair value. The current Return-on-Tangible-Asset is 8.03%, which is 107% above median its 10-year median of 3.88 and 114.1% above the Transportation industry median of 3.75. Qantas Airways' overall GF Score™ is 80/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Qantas Airways (ASX:QAN), the current Return-on-Tangible-Asset is 8.03% 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 (ASX:QAN) Overvalued in 2026?
Based on GuruFocus' analysis, Qantas Airways stock appears to be undervalued.
The current stock price of A$10.69 is trading 4% below its estimated GF Value™ of A$11.13.
GuruFocus considers Qantas Airways to be Fairly Valued.
Key valuation signals for ASX:QAN:
Return-on-Tangible-Asset: 8.03% (107% above median its 10-year median of 3.88)
GF Value™: A$11.13 vs. price of A$10.69 (4% below fair value)
Industry Position: 114.1% above the Transportation median (#255 of 1009)
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.
80GF Score
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