Flight Centre Travel Group Ltd
ASX: FLT · Consumer Cyclical · Travel Services
- Market cap
- A$2.6B
- P/E (trailing)
- 23.9
- EPS (FY25)
- $0.49
- Dividend / share
- $0.41
- 52-week range
- –
- Intrinsic value
- A$0.92
Share price
ASX: FLT · AUD
Valuation
Full valuation analysis →Fair-value estimate per share, updated 26 Jul 2026
A$0.92 Our discounted cash flow estimate
Well above fair value Trading at 12.7× the estimate. The market is pricing growth or risk that historical figures don't capture.
- Discounted cash flow
- A$0.92
- EPS growth model
- Not available
- P/E multiple
- Not available
See how each estimate is built and why the missing models bailed →
Revenue
As reported · financial years
Earnings per share
Diluted · as reported
Profit margins
Gross, operating and net margin by financial year
Mediocre Net margin of 3.9% in FY25: thin margins leave little room for shocks.
Shares outstanding
Diluted · falling means buybacks, rising means dilution
Strong buybacks -7.2% year-on-year, +7.2% a year over 9 years: a gradual share increase over time.
Working-capital days
Days of revenue sitting in receivables (DSO)
Steady collections DSO of 123 days vs a 107-day norm: collection times are in line with the historical norm.
Financial health
Latest financial year (FY25)
- Return on equity
- 8.9%
- Average
- Current ratio
- 1.03
- Adequate
- Debt to equity
- 0.57
- Moderate
- Interest coverage
- 3.4×
- Adequate
Verdicts are graded against what's normal for the sector (Consumer Cyclical), not a one-size-fits-all bar. Hover a tile for the reasoning.
Dividends per share
Full dividend history →Per financial year, as reported in the accounts
Stretched 84% of FY25 earnings paid out: little earnings buffer if profits dip.
Free cash flow
Cash from operations minus capital spending: what the DCF model projects from
Weak 33% of FY25 net profit became free cash: little of the reported profit is landing as cash.
Net debt
Borrowings and leases minus cash: the line shows how many years of operating profit (EBIT) would clear it
Net cash $117.8M more cash than debt in FY25: more cash on hand than total borrowings.
Five-year snapshot
Figures as reported in the company's filings
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $395.9M | $1.0B | $2.3B | $2.7B | $2.8B |
| Net profit | $-433.5M | $-286.7M | $47.5M | $139.6M | $109.5M |
| EPS (diluted) | $-2.18 | $-1.44 | $0.22 | $0.50 | $0.49 |
| Dividend / share | – | – | – | $0.26 | $0.41 |
| Net margin | -109.5% | -28.5% | 2.1% | 5.2% | 3.9% |
What does Flight Centre (FLT) do?
Flight Centre Travel Group works as a travel retailer, arranging leisure trips and managing corporate travel programs across Australia and New Zealand, through the Americas and Europe, and into the Middle East, Africa and Asia. Its consumer bookings cover budget-focused mass-market travel, youth and backpacker trips, premium holidays and cruises, while its corporate arm handles travel arrangements for organisations of varying sizes across many industries. It also supplies products to its own and affiliated retail travel shops, trading mainly under the Flight Centre name alongside a handful of other travel brands.
The group also runs its own tour desks, hotel programs and destination-management arms, alongside foreign-exchange currency counters and in-house training academies for travel-industry staff. Smaller sidelines include staffing and recruitment marketing, a bicycle retail business, and administering workplace benefit schemes for other employers. Founded in 1987 and headquartered in South Brisbane, the company has been listed on the ASX since 1995, is led by chief executive Graham Turner, and reported 12,211 full-time employees, sitting within the Consumer Cyclical sector's Travel Services industry.
Common questions about FLT
Is FLT undervalued right now? +–
Our discounted cash flow estimate puts Flight Centre Travel Group Ltd's fair value at A$0.92 per share against a price of A$11.71, 1,172.8% above the estimate as at 26 Jul 2026. Model estimates are a starting point, not advice. See the full valuation breakdown.
Does FLT pay a dividend? +–
Flight Centre Travel Group Ltd paid $0.41 per share in its most recent financial year with a recorded dividend. The dividend history chart above shows the full payout record.
How fast is FLT growing? +–
Revenue has compounded at 8.0% a year over the last five financial years.
What is FLT's P/E ratio? +–
Flight Centre Travel Group Ltd trades on a trailing price-to-earnings ratio of 23.9, based on diluted earnings of $0.49 per share in FY25.
Compare FLT with peers
How has Flight Centre Travel Group (FLT) performed financially over the years?
Flight Centre Travel Group's revenue climbed steadily from $2.6B in FY2016 to $3.1B in FY2019, with net income moving from $244.6M to $263.8M and diluted EPS ranging between $2.05 and $2.35 across those years. That run ended abruptly in FY2020, when revenue fell to $1.9B and the company reported a net loss of $662.3M (EPS -$5.52), followed by a deeper slide in FY2021 to just $395.9M in revenue alongside a $433.5M loss.
Revenue partially recovered to $1.0B in FY2022, still against a $286.7M loss, before a sharper rebound: $2.28B in FY2023 with net income turning positive at $47.5M, $2.71B in FY2024 with net income of $139.6M (EPS $0.50), and $2.78B in FY2025 with net income of $109.5M (EPS $0.49). Net income margin, which sat near 8-9% before FY2020, was 3.9% in FY2025, still short of pre-pandemic levels.
Valuation models place the DCF estimate at $0.92 per share, as of 2026-07-05, versus a share price of $12.18 recorded on 2026-07-03 - a substantial gap between the model's estimated fair value and where the stock last traded.
AI-assisted analysis generated from Craytheon's verified financial data · Updated 5 Jul 2026 · How this works
Data is general information only, not financial advice. Figures are as reported in company filings (some ASX companies report in USD); share prices are AUD.