Qantas Airways (ASX:QAN) has drawn fresh attention after its recent share moves, with the price at A$8.95 as of 21 September 2026. Investors are weighing this level against the airline's latest financial profile.
Recent trading shows that momentum in Qantas Airways is fading, with the share price return down 3.24% over 30 days and 13.02% over 90 days. This comes even though the 3-year total shareholder return sits at 91.08% and the 5-year total shareholder return at 71.77%.
Scan how Qantas Airways stacks up against other transport and travel operators by reviewing our curated list of list of solid balance sheet and fundamentals (12 results) for comparison.
Qantas Airways now carries a mixed recent track record and a strong multi year return profile. Has most of the gain already played out, or does the current tag still leave real upside on the table?
Most Popular Narrative: 23% Undervalued
Analysts following Qantas Airways see a gap between the last close at A$8.95 and their fair value estimate of A$11.60, and they link that spread directly to fleet renewal, customer focus and loyalty economics.
Fleet renewal is expected to accelerate, with 18 new aircraft this year and 21 next year. Analysts anticipate this will unlock EBIT benefits and support future growth through operational efficiencies and increased capacity. This is also expected to influence net margins and earnings as new aircraft improve cost structures.
See why 56 investors see Qantas Airways as 23% undervalued .
Result: Fair Value of A$11.60 (UNDERVALUED)
Still, the Qantas Airways story depends on fleet renewal costs bedding down smoothly and labour or Same Job Same Pay cost pressure not eating into those projected margins.
Find out about the key risks to this Qantas Airways narrative .
Next Steps
Mixed signals around Qantas Airways can pull you in both directions, so move quickly, review the full picture and weigh up the 4 key rewards and 3 important warning signs .
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include QAN.AX .
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