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Flight Centre Travel Group Limited
(Sydney:FLT)
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Rating:59Neutral
Price Target:
AU$12.50
▼(-3.55% Downside)
Action:Reiterated
Date:08/27/26
The score is primarily driven by improved but uneven fundamentals (sustained profitability and periods of strong free cash flow, offset by 2026 revenue decline, margin normalization, and renewed debt pressure). The earnings call adds cautious support via strong corporate execution, early FY27 leisure momentum, and buybacks, but notable one-off disruptions and higher interest costs limit confidence. Technicals are the main drag with the stock trading below key moving averages despite oversold readings, while valuation is middling (P/E ~24) with some support from the ~3.38% yield.
Positive Factors
Corporate growth and productivity
Corporate’s record performance and higher productivity indicate stronger execution and scalable operations. TTV growth with fewer consultants can support durable margin quality and earnings expansion as new business wins are implemented.
Negative Factors
Revenue decline and margin normalization
The return to negative annual revenue growth suggests that the post-pandemic recovery has lost momentum. Margin normalization further limits earnings progression, making future profit growth more dependent on productivity and demand recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Corporate growth and productivity
Corporate’s record performance and higher productivity indicate stronger execution and scalable operations. TTV growth with fewer consultants can support durable margin quality and earnings expansion as new business wins are implemented.
Read all positive factors
Flight Centre Travel Group Limited (FLT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$2.36B
Dividend Yield3.51%
Average Volume (3M)1.39M
Price to Earnings (P/E)16.3
Beta (1Y)1.70
Revenue Growth2.55%
EPS Growth42.88%
CountryAU
Employees12,365
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Services
Share Statistics
EPS (TTM)0.71
Shares Outstanding204,786,330
10 Day Avg. Volume1,774,343
30 Day Avg. Volume1,390,842
Financial Highlights & Ratios
PEG Ratio0.40
Price to Book (P/B)2.30
Price to Sales (P/S)0.88
P/FCF Ratio9.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$14.31Price Target Upside10.41% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)1.06
Revenue Forecast (FY)AU$3.04B
Flight Centre Travel Group Limited Business Overview & Revenue Model
Company Description
Flight Centre Travel Group Limited provides travel retailing services for the leisure and corporate sectors in Australia, New Zealand, the Americas, Europe, the Middle East, Africa, Asia, and internationally. The company offers leisure travel serv...
How the Company Makes Money
FLT primarily makes money by earning income from arranging travel products and services on behalf of customers rather than typically acting as the end supplier. Key revenue streams include: (1) commissions and incentives from travel suppliers (e.g...
Flight Centre Travel Group Limited Earnings Call Summary
Earnings Call Date:Aug 25, 2026
(Q4-2026)
| Next Earnings Date:Feb 24, 2027
Earnings Call Sentiment Positive
The call presented a balanced but cautiously positive outlook: strong operational and strategic progress (record corporate metrics, productivity gains, digital and loyalty traction, solid capital management and a strong July start to FY'27) offset by a material, one-off profit hit from the Middle East conflict, Q4 Leisure disruption (refunds and repatriation), higher net interest and near-term P&L pressure from moving productive operations costs above the line. Management expects recovery and second-half-weighted corporate profit as wins are implemented and Leisure momentum continues.Positive Updates
Group underlying EBITDA growth
Underlying EBITDA increased 4% year-on-year, demonstrating operational resilience despite external shocks.
Negative Updates
Middle East conflict material profit impact
War in the Middle East reduced Leisure profit by an estimated ~$60 million in FY'26 and materially affected Touring and some corporate operations in Asia, Europe and the Middle East.
Read all updates
Q4-2026 Updates
Positive
Negative
Group underlying EBITDA growth
Underlying EBITDA increased 4% year-on-year, demonstrating operational resilience despite external shocks.
Read all positive updates
Company Guidance
Management will give formal FY27 guidance at the AGM in November, but in the interim they flagged building Leisure momentum (record July TTV surpassing the 2019 peak and the best July profit since 2015), FY26 Leisure TTV of $12.6bn (up 7.4%) with underlying PBT of $139m yet Q4 profit fell from a normal ~$45m to ~$2m after ~ $250m of refunds and an estimated ~$60m FY26 Leisure profit hit from the Middle East war; group underlying EBITDA was up 4% YoY but underlying PBT was weighed by a $16m increase in net interest, HQ cost margin hit a record low 9.5%, the company repurchased ~$200m (~7% of shares) and announced a new up-to-$200m buyback, and expected effective tax is ~29–30%; Corporate delivered underlying PBT +28% to $240m with TTV +5% in constant currency (U.S. corporate TTV >US$2bn, +10% local), Corporate Traveller reached A$5bn TTV and CT grew 8% AUD (13% cc), TTV per travel consultant is up 34% since 2023 and CT TTV is 50% above pre‑COVID with 35% fewer consultants, while ~A$12m of productive‑ops costs have moved above the line and prior $34m loyalty investment may see up to half (~$17m) flow into FY27 results.Flight Centre Travel Group Limited Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
56
Neutral
Cash Flow
63
Positive
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.85B | 2.78B | 2.71B | 2.28B | 1.01B |
| Gross Profit | 1.07B | 2.62B | 2.56B | 2.18B | -25.53M |
| EBITDA | 362.40M | 415.88M | 461.37M | 301.43M | -202.71M |
| Net Income | 149.17M | 109.49M | 139.64M | 47.46M | -286.65M |
Balance Sheet | |||||
| Total Assets | 5.07B | 4.11B | 4.21B | 4.53B | 3.86B |
| Cash, Cash Equivalents and Short-Term Investments | 824.75M | 835.14M | 1.17B | 1.35B | 1.23B |
| Total Debt | 1.23B | 884.11M | 988.15M | 1.36B | 1.32B |
| Total Liabilities | 3.97B | 2.89B | 3.01B | 3.40B | 3.09B |
| Stockholders Equity | 1.10B | 1.22B | 1.20B | 1.14B | 775.83M |
Cash Flow | |||||
| Free Cash Flow | 267.69M | 36.50M | 325.88M | 64.14M | -141.75M |
| Operating Cash Flow | 299.76M | 139.16M | 421.48M | 156.17M | -101.37M |
| Investing Cash Flow | -221.64M | -97.11M | -75.70M | -240.46M | -83.90M |
| Financing Cash Flow | -34.48M | -422.50M | -489.00M | 134.11M | 92.93M |
Flight Centre Travel Group Limited Technical Analysis
Negative
12.96
Price Trends
12.48
Negative
11.69
Negative
12.53
Negative
Market Momentum
-0.30
Positive
34.69
Neutral
6.77
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:FLT, the sentiment is Negative. The current price of 12.96 is above the 20-day moving average (MA) of 12.51, above the 50-day MA of 12.48, and above the 200-day MA of 12.53, indicating a bearish trend. The MACD of -0.30 indicates Positive momentum. The RSI at 34.69 is Neutral, neither overbought nor oversold. The STOCH value of 6.77 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:FLT.
Flight Centre Travel Group Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | AU$329.23M | 27.71 | 7.19% | 136.90% | 6.84% | ― | |
70 Outperform | AU$247.16M | 151.00 | 0.31% | 6.60% | 8.32% | -96.34% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | AU$1.22B | 125.00 | -11.73% | 5.98% | 20.01% | -80.80% | |
59 Neutral | AU$2.36B | 16.30 | 13.09% | 3.51% | 2.55% | 42.88% | |
58 Neutral | AU$71.64M | -237.50 | -0.20% | 2.63% | -3.52% | 69.23% | |
54 Neutral | AU$831.69M | -70.74 | -19.21% | ― | 18.60% | 54.28% |
* Consumer Cyclical Sector Average
AU:FLT
Flight Centre Travel Group Limited
11.57
-0.29
-2.48%
AU:CTD
Corporate Travel Management Limited
2.25
-13.82
-86.00%
AU:WEB
WEB Travel Group
3.70
-0.51
-12.11%
AU:HLO
Helloworld Travel Ltd
1.51
-0.12
-7.25%
AU:EXP
Experience Co Ltd
0.10
-0.07
-40.63%
AU:SDR
SiteMinder Limited
2.95
-3.86
-56.68%
Flight Centre Travel Group Limited Corporate Events
Flight Centre Files 2026 Corporate Governance Statement with ASX
Aug 25, 2026
Flight Centre Travel Group has lodged its latest corporate governance statement for the year to 30 June 2026, complying with ASX Listing Rules by hosting the statement on its website rather than in the annual report. The document is approved by th...
Flight Centre outlines FY26 governance and diversity framework
Aug 25, 2026
Flight Centre Travel Group has detailed its FY26 corporate governance framework, confirming full compliance with the ASX Corporate Governance Principles and Recommendations and formalising board oversight of strategy, performance, risk and corpora...
Flight Centre flags FY26 results agenda and FY27 outlook
Aug 25, 2026
Flight Centre Travel Group has released an outline of its full-year FY2026 results presentation, signalling a structured update on its performance and strategic direction. The agenda highlights a review of FY26 operations, financial performance ac...
Flight Centre posts record TTV, lifts shareholder returns amid Q4 disruption
Aug 25, 2026
Flight Centre Travel Group reported record total transaction value of $25.7 billion for the year to June 30, 2026, with year-on-year growth in both leisure and corporate divisions despite a challenging fourth quarter. Underlying EBITDA rose to $46...
Flight Centre declares AUD 0.30 full-year dividend for 2026
Aug 25, 2026
Flight Centre Travel Group Limited has declared a full-year dividend of AUD 0.30 per ordinary fully paid share for the twelve-month period ended 30 June 2026, signalling a return of capital to shareholders. The distribution will follow an ex-divid...
Citi Group Drops Below Substantial Holder Threshold in Flight Centre
Aug 20, 2026
Citigroup Global Markets Australia Pty Limited and related Citi entities have disclosed that they ceased to be a substantial holder in Flight Centre Travel Group Limited on 18 August 2026. The change follows a previous substantial holding notice l...
JPMorgan Drops Below Substantial Holder Threshold in Flight Centre
Aug 17, 2026
JPMorgan Chase Co. and its affiliates have notified Flight Centre Travel Group that they have ceased to be a substantial holder in the company as of 13 August 2026. The change reflects a series of securities lending, collateral and principal trad...
Flight Centre sets August date for 2026 full-year results webcast
Aug 5, 2026
Flight Centre Travel Group has announced it will release its full-year fiscal 2026 results on August 26, 2026, providing investors and stakeholders with an updated view of the company’s performance and strategic progress. The company will ho...
Flight Centre updates market on cessation of convertible notes
Aug 3, 2026
Flight Centre Travel Group Limited has notified the market of a change in its issued capital, following the cessation of a series of convertible notes listed under the ASX code FLTAA. The company reported that 482 of these convertible securities c...
Flight Centre Cancels 1.37 Million Shares After On‑Market Buy‑Back
Jul 27, 2026
Flight Centre Travel Group Limited has cancelled 1,369,928 ordinary fully paid shares following an on‑market buy‑back completed on 27 July 2026. The reduction in issued capital reflects the company’s capital management strategy, ...
Flight Centre updates market on progress of on-market share buy-back
Jul 23, 2026
Flight Centre Travel Group Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares. The update, dated 24 July 2026, confirms that a total of 1,169,928 shares...
Flight Centre Updates Investors on Ongoing Share Buy-Back Program
Jul 21, 2026
Flight Centre Travel Group Limited has issued an update on its on-market share buy-back program for its ordinary fully paid shares traded under the FLT ticker. The latest notification, dated 21 July 2026, reports cumulative purchases of 832,520 sh...
Flight Centre Updates Investors on Ongoing On-Market Share Buy-Back
Jul 14, 2026
Flight Centre Travel Group Limited has issued an update on its ongoing on-market share buy-back program for its ordinary fully paid securities. The latest daily notification, dated 15 July 2026, reports that a total of 521,738 shares had been repu...
Flight Centre Issues Daily Update on Ongoing Share Buy-Back
Jul 13, 2026
Flight Centre Travel Group Limited, a major player in the travel and tourism sector, provides flight, accommodation, and broader travel booking services to both leisure and corporate clients. Its shares trade on the Australian Securities Exchange ...
Flight Centre Updates Market on Progress of On‑Market Share Buy‑Back
Jul 12, 2026
Flight Centre Travel Group has provided an update on its ongoing on-market share buy-back program, disclosing that a total of 395,419 ordinary fully paid shares had been repurchased prior to the latest trading day. The company reported that it bou...
Flight Centre updates market on ongoing on‑market share buy‑back
Jul 9, 2026
Flight Centre Travel Group Limited has updated the market on its ongoing on-market share buy-back, confirming that it repurchased a total of 80,189 ordinary fully paid shares on the previous trading day, bringing cumulative buy-backs to 315,230 sh...
Flight Centre Continues On-Market Share Buy-Back Program
Jul 8, 2026
Flight Centre Travel Group Limited has issued an updated notification to the ASX confirming ongoing on-market buy-backs of its ordinary fully paid shares under its current capital management program. The latest daily update, dated 9 July 2026, rep...
Flight Centre Updates ASX on Progress of Daily Share Buy-Back
Jul 7, 2026
Flight Centre Travel Group Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for ordinary fully paid shares under ticker FLT. The latest daily update dated 8 July 2026 reports that a tot...
Flight Centre Updates Daily On-Market Share Buy-Back Activity
Jul 6, 2026
Flight Centre Travel Group Limited has issued an updated notification regarding its ongoing on-market share buy-back program for ordinary fully paid FLT shares. The company reported that a cumulative total of 162,465 shares had been repurchased be...
Flight Centre Travel Group Lapses 58,502 Performance Rights
Jul 6, 2026
Flight Centre Travel Group has reported the lapse of 58,502 performance rights, designated under ASX code FLTAP, after the conditions attached to these rights were not met or became incapable of being satisfied as of June 30, 2026. The cessation o...
Flight Centre Issues New Shares Following Conversion of Unquoted Securities
Jul 6, 2026
Flight Centre Travel Group Limited has notified the market of the issue of 81,761 ordinary fully paid shares following the conversion or exercise of previously unquoted securities. The new shares, dated June 30, 2026, reflect the company’s o...
Flight Centre Updates Market on Progress of On-Market Share Buy-Back
Jul 5, 2026
Flight Centre Travel Group Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back of ordinary fully paid shares under the code FLT. The company reported that it had repurchased a cumulative total of ...
Citi Group Drops Below Substantial Holder Threshold in Flight Centre
Jul 3, 2026
Citigroup Global Markets Australia Pty Limited and its related Citi group entities have disclosed that they ceased to be substantial shareholders in Flight Centre Travel Group Ltd as of June 30, 2026. The change follows a reduction in their releva...
Flight Centre Issues Daily Update on On‑Market Share Buy‑Back
Jul 2, 2026
Flight Centre Travel Group Limited has provided an updated notification to the ASX regarding its on‑market share buy‑back program for its ordinary fully paid shares. The company reported that it had repurchased a cumulative total of 96...
Flight Centre Reports First Daily Share Buy-Back Activity
Jul 1, 2026
Flight Centre Travel Group Limited has notified the market of an on-market buy-back of its ordinary fully paid shares, providing an update to its previously announced program. The latest daily disclosure shows that 96,104 shares were repurchased o...
Citi Group Ceases to Be Substantial Shareholder in Flight Centre
Jul 1, 2026
Citigroup Global Markets Australia Pty Limited and related Citi group entities have disclosed that they have ceased to be substantial shareholders in Flight Centre Travel Group Limited, an Australian-listed travel agency operator. The change follo...
MUFG exits substantial holder position in Flight Centre
Jun 25, 2026
Mitsubishi UFJ Financial Group has filed a notice indicating it has ceased to be a substantial shareholder in Flight Centre Travel Group. The filing, dated 25 June 2026, details multiple transactions in mid-June involving purchases of fully paid o...
First Sentier Investors exits substantial holding in Flight Centre
Jun 24, 2026
Mitsubishi UFJ Financial Group’s First Sentier Investors group has lodged a notice that it has ceased to be a substantial shareholder in Flight Centre Travel Group, ending its status as a major holder of voting securities. The change, formal...
Flight Centre Announces On‑Market Share Buy‑Back of Ordinary Shares
Jun 16, 2026
Flight Centre Travel Group Limited has notified the market of a new on‑market share buy‑back program for its ordinary fully paid shares, trading under the ASX code FLT. The company’s decision to repurchase shares on market may si...
Flight Centre Cuts FY26 Profit Guidance but Backs Recovery With New $200m Buyback
Jun 16, 2026
Flight Centre Travel Group has cut its FY26 underlying profit before tax guidance to a range of $275 million to $295 million, from a previous target of $310 million to $345 million, after the Middle East conflict sharply disrupted international le...
Flight Centre Director Graham Turner Increases Indirect Shareholding
May 28, 2026
Flight Centre Travel Group has disclosed a change in director Graham Turner’s indirect shareholding following an on-market trade. Through entities associated with him, Turner acquired 98,200 ordinary shares at an average price of $10.1349 pe...
Flight Centre Issues New Prospectus for Internal Ownership Scheme
May 28, 2026
Flight Centre Travel Group has issued a new prospectus for its internal Business Ownership Scheme, an annual program that allows team leaders to invest directly in the shops or sales businesses they manage. The latest prospectus covers unsecured n...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.