Qantas Airways Ltd (QAN) - Cash Flow Conversion Efficiency

Latest as of December 2025: 1.251x

Based on the latest financial reports, Qantas Airways Ltd (QAN) has a cash flow conversion efficiency ratio of 1.251x as of December 2025. Cash flow conversion efficiency measures how effectively a company's net assets (equity) generate operating cash flow. It is calculated by dividing operating cash flow (AU$1.69 Billion ≈ $1.19 Billion USD) by net assets (AU$1.35 Billion ≈ $954.50 Million USD). A higher ratio indicates that the company is more efficient at using its equity to generate cash flow from its core operations. See Qantas Airways Ltd defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.

Qantas Airways Ltd - Cash Flow Conversion Efficiency Trend (1994–2025)

This chart illustrates how Qantas Airways Ltd's cash flow conversion efficiency has evolved over time, based on yearly financial data.

Qantas Airways Ltd Competitors by Cash Flow Conversion Efficiency

The table below lists competitors of Qantas Airways Ltd ranked by their cash flow conversion efficiency.

Company	Cash Flow Conversion Efficiency
Aegon NV AS:AGN	0.132x
Banque Cantonale Vaudoise SW:BCVN	0.139x
Eastroc Beverage Group Co Ltd SHG:605499	0.071x
CSPC Pharmaceutical Group Limited F:CVG	0.062x
Guangdong Fenghua Advanced Technology Holding Co Ltd SHE:000636	0.007x
Fresenius Medical Care AG & Co. KGaA XETRA:FME	0.016x
CHINA RE.PO.HO.UNS.ADR/15 F:CRP0	N/A
United Spirits Limited NSE:MCDOWELL-N	0.112x

Annual Cash Flow Conversion Efficiency for Qantas Airways Ltd (1994–2025)

The table below shows the annual cash flow conversion efficiency of Qantas Airways Ltd from 1994 to 2025. For the full company profile with market capitalisation and key ratios, see Qantas Airways Ltd market cap and net worth.

Year	Net Assets	Operating Cash Flow	Cash Flow Conversion Efficiency	Change
2025-06-30	AU$783.00 Million ≈ $554.02 Million	AU$4.25 Billion ≈ $3.01 Billion	5.432x	-52.37%
2024-06-30	AU$294.00 Million ≈ $208.02 Million	AU$3.35 Billion ≈ $2.37 Billion	11.405x	-97.74%
2023-06-30	AU$10.00 Million ≈ $7.08 Million	AU$5.05 Billion ≈ $3.58 Billion	505.400x	+3696.48%
2022-06-30	AU$-190.00 Million ≈ $-134.44 Million	AU$2.67 Billion ≈ $1.89 Billion	-14.053x	-1429.56%
2021-06-30	AU$443.00 Million ≈ $313.45 Million	AU$-407.00 Million ≈ $-287.98 Million	-0.919x	-229.45%
2020-06-30	AU$1.53 Billion ≈ $1.08 Billion	AU$1.08 Billion ≈ $766.29 Million	0.710x	-32.39%
2019-06-30	AU$3.01 Billion ≈ $2.13 Billion	AU$3.16 Billion ≈ $2.24 Billion	1.050x	+21.65%
2018-06-30	AU$3.96 Billion ≈ $2.80 Billion	AU$3.41 Billion ≈ $2.41 Billion	0.863x	+12.98%
2017-06-30	AU$3.54 Billion ≈ $2.50 Billion	AU$2.70 Billion ≈ $1.91 Billion	0.764x	-11.67%
2016-06-30	AU$3.26 Billion ≈ $2.31 Billion	AU$2.82 Billion ≈ $1.99 Billion	0.865x	+45.54%
2015-06-30	AU$3.45 Billion ≈ $2.44 Billion	AU$2.05 Billion ≈ $1.45 Billion	0.594x	+59.29%
2014-06-30	AU$2.87 Billion ≈ $2.03 Billion	AU$1.07 Billion ≈ $756.39 Million	0.373x	+53.73%
2013-06-30	AU$5.84 Billion ≈ $4.13 Billion	AU$1.42 Billion ≈ $1.00 Billion	0.243x	-21.06%
2012-06-30	AU$5.89 Billion ≈ $4.17 Billion	AU$1.81 Billion ≈ $1.28 Billion	0.307x	+11.73%
2011-06-30	AU$6.15 Billion ≈ $4.35 Billion	AU$1.69 Billion ≈ $1.20 Billion	0.275x	+25.88%
2010-06-30	AU$5.98 Billion ≈ $4.23 Billion	AU$1.31 Billion ≈ $924.79 Million	0.219x	+11.59%
2009-06-30	AU$5.76 Billion ≈ $4.08 Billion	AU$1.13 Billion ≈ $798.84 Million	0.196x	-47.23%
2008-06-30	AU$5.73 Billion ≈ $4.06 Billion	AU$2.13 Billion ≈ $1.51 Billion	0.371x	-2.30%
2007-06-30	AU$6.20 Billion ≈ $4.38 Billion	AU$2.35 Billion ≈ $1.67 Billion	0.380x	+14.02%
2006-06-30	AU$6.08 Billion ≈ $4.30 Billion	AU$2.03 Billion ≈ $1.43 Billion	0.333x	+9.81%
2005-06-30	AU$6.43 Billion ≈ $4.55 Billion	AU$1.95 Billion ≈ $1.38 Billion	0.303x	-11.37%
2004-06-30	AU$5.84 Billion ≈ $4.13 Billion	AU$2.00 Billion ≈ $1.41 Billion	0.342x	+39.56%
2003-06-30	AU$5.26 Billion ≈ $3.72 Billion	AU$1.29 Billion ≈ $913.32 Million	0.245x	-8.74%
2002-06-30	AU$4.25 Billion ≈ $3.01 Billion	AU$1.14 Billion ≈ $808.96 Million	0.269x	-19.03%
2001-06-30	AU$3.32 Billion ≈ $2.35 Billion	AU$1.10 Billion ≈ $778.82 Million	0.332x	-40.57%
2000-06-30	AU$2.86 Billion ≈ $2.03 Billion	AU$1.60 Billion ≈ $1.13 Billion	0.559x	+41.44%
1999-06-30	AU$3.06 Billion ≈ $2.17 Billion	AU$1.21 Billion ≈ $854.95 Million	0.395x	-3.99%
1998-06-30	AU$2.96 Billion ≈ $2.10 Billion	AU$1.22 Billion ≈ $862.10 Million	0.411x	-1.10%
1997-06-30	AU$2.67 Billion ≈ $1.89 Billion	AU$1.11 Billion ≈ $785.96 Million	0.416x	+10.95%
1995-06-30	AU$2.28 Billion ≈ $1.61 Billion	AU$853.80 Million ≈ $604.12 Million	0.375x	+11.38%
1994-06-30	AU$2.17 Billion ≈ $1.53 Billion	AU$729.00 Million ≈ $515.81 Million	0.337x	--

About Qantas Airways Ltd

AU:QAN Australia Airlines

Market Cap

$10.01 Billion

AU$14.15 Billion AUD

Market Cap Rank

#2234 Global

#45 in Australia

Share Price

AU$9.35

Change (1 day)

+3.77%

52-Week Range

AU$8.15 - AU$12.12

All Time High

AU$12.12