Qantas Airways Ltd (QAN) — Financial Flexibility Index
Qantas Airways Ltd (QAN) has a Financial Flexibility Index of 0.16x as of December 2025. Free cash flow of AU$3.52 Billion (operating CF AU$1.69 Billion minus capex AU$1.84 Billion) represents 0% of total liabilities (AU$22.55 Billion). Check Qantas Airways Ltd cash flow reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Qantas Airways Ltd Financial Flexibility Index (1994–2025)
Historical Financial Flexibility Index trend for Qantas Airways Ltd across 31 annual periods. For the full cash flow conversion analysis, see Qantas Airways Ltd operating cash flow efficiency.
Annual Financial Flexibility Index for Qantas Airways Ltd (1994–2025)
Year-by-year free cash flow to debt coverage for Qantas Airways Ltd. Explore Qantas Airways Ltd cash flow to debt ratio to assess how comfortably operating cash covers total debt obligations.
| Year | Flexibility Index | Free Cash Flow (AUD) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.36x | AU$8.17 Billion | AU$4.25 Billion | AU$22.57 Billion | ▲ +21.8% |
| 2024 | 0.30x | AU$6.03 Billion | AU$3.35 Billion | AU$20.27 Billion | ▼ -20.6% |
| 2023 | 0.37x | AU$7.62 Billion | AU$5.05 Billion | AU$20.34 Billion | ▲ +107.8% |
| 2022 | 0.18x | AU$3.58 Billion | AU$2.67 Billion | AU$19.84 Billion | ▲ +820.4% |
| 2021 | 0.02x | AU$340.00 Million | AU$-407.00 Million | AU$17.36 Billion | ▼ -86.2% |
| 2020 | 0.14x | AU$2.63 Billion | AU$1.08 Billion | AU$18.50 Billion | ▼ -51.6% |
| 2019 | 0.29x | AU$5.15 Billion | AU$3.16 Billion | AU$17.52 Billion | ▼ -20.3% |
| 2018 | 0.37x | AU$5.42 Billion | AU$3.41 Billion | AU$14.69 Billion | ▲ +22.5% |
| 2017 | 0.30x | AU$4.12 Billion | AU$2.70 Billion | AU$13.68 Billion | ▼ -9.3% |
| 2016 | 0.33x | AU$4.46 Billion | AU$2.82 Billion | AU$13.45 Billion | ▲ +36.5% |
| 2015 | 0.24x | AU$3.42 Billion | AU$2.05 Billion | AU$14.08 Billion | ▲ +55.2% |
| 2014 | 0.16x | AU$2.26 Billion | AU$1.07 Billion | AU$14.45 Billion | ▼ -18.4% |
| 2013 | 0.19x | AU$2.73 Billion | AU$1.42 Billion | AU$14.19 Billion | ▼ -27.2% |
| 2012 | 0.26x | AU$4.03 Billion | AU$1.81 Billion | AU$15.29 Billion | ▼ -5.4% |
| 2011 | 0.28x | AU$4.10 Billion | AU$1.69 Billion | AU$14.71 Billion | ▲ +29.6% |
| 2010 | 0.22x | AU$3.00 Billion | AU$1.31 Billion | AU$13.93 Billion | ▲ +15.5% |
| 2009 | 0.19x | AU$2.66 Billion | AU$1.13 Billion | AU$14.28 Billion | ▼ -26.8% |
| 2008 | 0.25x | AU$3.55 Billion | AU$2.13 Billion | AU$13.97 Billion | ▼ -5.0% |
| 2007 | 0.27x | AU$3.59 Billion | AU$2.35 Billion | AU$13.41 Billion | ▼ -1.3% |
| 2006 | 0.27x | AU$3.55 Billion | AU$2.03 Billion | AU$13.10 Billion | ▼ -12.6% |
| 2005 | 0.31x | AU$3.63 Billion | AU$1.95 Billion | AU$11.71 Billion | ▼ -8.8% |
| 2004 | 0.34x | AU$3.99 Billion | AU$2.00 Billion | AU$11.73 Billion | ▼ -5.8% |
| 2003 | 0.36x | AU$4.23 Billion | AU$1.29 Billion | AU$11.71 Billion | ▲ +9.4% |
| 2002 | 0.33x | AU$3.48 Billion | AU$1.14 Billion | AU$10.55 Billion | ▲ +48.0% |
| 2001 | 0.22x | AU$2.05 Billion | AU$1.10 Billion | AU$9.20 Billion | ▼ -25.9% |
| 2000 | 0.30x | AU$2.75 Billion | AU$1.60 Billion | AU$9.14 Billion | ▲ +0.2% |
| 1999 | 0.30x | AU$2.45 Billion | AU$1.21 Billion | AU$8.17 Billion | ▲ +16.6% |
| 1998 | 0.26x | AU$1.91 Billion | AU$1.22 Billion | AU$7.40 Billion | ▲ +7.5% |
| 1997 | 0.24x | AU$1.74 Billion | AU$1.11 Billion | AU$7.24 Billion | ▲ +20.7% |
| 1995 | 0.20x | AU$1.32 Billion | AU$853.80 Million | AU$6.65 Billion | ▲ +21.9% |
| 1994 | 0.16x | AU$985.00 Million | AU$729.00 Million | AU$6.05 Billion | — |