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 strategic capital allocation to assess the company's strategic physical and investment asset allocation.
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. See Qantas Airways Ltd working capital to net assets to evaluate short-term liquidity relative to the company's equity base.
Annual Financial Flexibility Index for Qantas Airways Ltd (1994–2025)
Year-by-year free cash flow to debt coverage for Qantas Airways Ltd. For the full company profile including market capitalisation, see market value of Qantas Airways Ltd.
| 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 | — |