Qantas Airways (FRA:QAN) ROCE %: 26.84% (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 ROCE %?

Qantas Airways FRA:QAN +2.16% 83 ROCE % is 26.84% 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.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Qantas Airways's annualized ROCE % for the quarter that ended in Dec. 2025 was 26.84%.

Qantas Airways  (FRA:QAN) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Qantas Airways ROCE % Related Terms

Qantas Airways ROCE % Historical Data

* Premium members only.

The historical data trend for Qantas Airways's ROCE % 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 ROCE % Chart

Qantas Airways Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only -11.28 -6.88 30.66 24.84 24.89

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
ROCE % 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 33.71 16.69 31.54 19.37 26.84
FRA:QAN
83GF Score
Qantas Airways Ltd FRA:QAN
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Qantas Airways ROCE % Calculation

Qantas Airways's annualized ROCE % for the fiscal year that ended in Jun. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Jun. 2025 )  (A: Jun. 2024 )(A: Jun. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Jun. 2025 )  (A: Jun. 2024 )(A: Jun. 2025 )
=1424.68/( ( (12685.23 - 7244.473) + (13183.367 - 7177.586) )/ 2 )
=1424.68/( (5440.757+6005.781)/ 2 )
=1424.68/5723.269
=24.89 %

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

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Dec. 2025 )  (Q: Jun. 2025 )(Q: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Dec. 2025 )  (Q: Jun. 2025 )(Q: Dec. 2025 )
=1685.302/( ( (13183.367 - 7177.586) + (13558.456 - 7007.34) )/ 2 )
=1685.302/( ( 6005.781 + 6551.116 )/ 2 )
=1685.302/6278.4485
=26.84 %

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

* 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 ROCE % →
What does a ROCE % of 26.84% mean?
Qantas Airways (FRA:QAN) has a ROCE % of 26.84% as of Dec. 2025.
Is Qantas Airways' ROCE % too high?
Qantas Airways' current ROCE % is 26.84%. The Transportation industry median ROCE % is 7.73. Qantas Airways' value of 26.84% is 247.2% above this industry median. 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' ROCE % compare to DAL and UAL?
Qantas Airways' ROCE % of 26.84% can be compared against companies in the Transportation industry. The industry median ROCE % is 7.73. Qantas Airways' value of 26.84% is 247.2% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Transportation company?
The median ROCE % among Transportation companies is 7.73, based on 989 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Qantas Airways's current ROCE % of 26.84% is 247.2% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Transportation industry, the median ROCE % is 7.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Qantas Airways's current ROCE % is 26.84%. 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 ROCE % is 26.84% and 247.2% above the Transportation industry median of 7.73. 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 ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Qantas Airways (FRA:QAN), the current ROCE % is 26.84% 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:

  • ROCE %: 26.84%
  • GF Value™: €6.71 vs. price of €6.48 (3.5% below fair value)
  • GF Score™: 83/100 with 6 warning signs
  • Industry Position: 247.2% above the Transportation median

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

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

€6.48
Price
€6.71
GF Value