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FLIGHT CENTRE (FLI) Fair Value & Analysis

Real Estate · DE · Market cap €2.2B

What is FLIGHT CENTRE really worth?

FC FLIGHT CENTRE FLI · BE
Price from Jul 17, 2026€7.30
Fair Value€3.71
Upside−49.2%
Quality51/100

A solid business, but trading 97% above our fair value of €3.71.

As of Aug 23, 2026, the fair value of FLIGHT CENTRE is €3.71 per share against a price of €7.30, so the fair value sits 49% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Low debt · generates free cash flow
Ranks above peers (7/9)

Risks

!Mixed Growth (revenue 5y +8.0 %/yr)
!Thin margins · 0.0% net margin
!Moderate moat 60/100
!Evidence only low, so the estimate is less certain

For context

·12.25% dividend yield
Evidence: Low Range €2.79 – €4.64

Fair value as of: Aug 23, 2026

From 11 valuation models · updated 14 days ago

Fair value updated Aug 23, 2026, revised from €3.40 to €3.71 (+9.1%) since Aug 13, 2026. Share price +9.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (€4.64). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

€14.21 €6.05 Fair Value €3.71 May 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range €6.05 – €14.21 · fair‑value band €2.79 – €4.64 · the €7.30 price screens above the €3.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

FLIGHT CENTRE (FLI) currently trades at €7.30, while our model-based Fair Value estimate is €3.71, implying the stock looks roughly 96.8% overvalued today. The Quality Score stands at 51/100 (solid quality), in the Real Estate sector. Bull case: the DCF Models group reads highest at a median of €11.05 per share, and 5 of the 11 models we run sit above the €7.30 price. Bear case: the Asset-Based group reads lowest at €2.67, and 6 of the 11 models stay below the price. Evidence for this calculation is low.

Our scenario range runs from €2.79 (bear case) to €4.64 (bull case); at €7.30, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 27% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 50% fair-value upside, at −49%, FLI screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF €3.06 €4.26 €7.44 78
Growth DCF €2.99 €4.54 €7.31 77
Residual Income €3.35 €3.63 €4.58 76
All 11 models by family
DCF Models
FCF DCF €3.06 €4.26 €7.44 78
5Y Revenue Exit €6.64 €12.54 €22.79 69
10Y Revenue Exit €5.24 €11.05 €19.69 64
Multiples
P/S Multiple €4.54 €6.05 €7.56 58
P/B Multiple €4.54 €6.05 €7.56 55
EV/EBIT €13.32 €17.31 €21.30 66
EV/Revenue €7.95 €10.78 €13.61 54
Asset-Based
NCAV (Graham) €1.99 €2.67 €3.98 54
Growth DCF
Growth DCF €2.99 €4.54 €7.31 77
Rev-Margin DCF €6.64 €12.65 €21.44 70
Economic Profit
Residual Income €3.35 €3.63 €4.58 76

Widest divergence: DCF Models (€11.05) versus Asset-Based (€2.67). Highest evidence: FCF DCF (78).

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Key figures & financial health

Dividend yield 12.3%
Net margin 3.9% FY2025
Return on assets (EBIT) −4.4% avg 5y
Free cash flow €36.5M FY2025

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 49 · Market factors (momentum, volatility) 25

Profitability 49
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 40
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 68
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

There is no Profile data available for FLI.BE.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

FLIGHT CENTRE reported revenue of A$2.8B in FY2025 versus A$396M in FY2021, a compound +62.8%/yr. Reported net income was A$109M in FY2025.

Growth Quality 42/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€2.8B
Latest YoY
+2.7%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+40.3%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.0%
Avg. revenue growth/yr (9Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.7%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−14.3% · in EUR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−26.5%
Dividend yield12.3%
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−41.2% (2020) → 8.0% (2025) · rising
Worst earnings drop242% (2020) (loss year, drop beyond 100%) · in EUR
⚠ Revenue per share shrinking 11.6%/yr over ~6Y (margins eroding too) Structural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Revenue +62.8%/yr
FY21 A$396M
FY22 A$1.0B
FY23 A$2.3B
FY24 A$2.7B
FY25 A$2.8B
Net income
FY21 −A$433M
FY22 −A$287M
FY23 A$47.5M
FY24 A$140M
FY25 A$109M

FLI screens 97% overvalued. Compare with SMPH →

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Cite: Fair Value Calculator (2026). "FLIGHT CENTRE Fair Value". https://www.fairvalue-calculator.com/stock/FLI.BE

Peer Group

Real Estate Operations · 37 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 53 · Above median
Fair Value upside −49% · Bottom 25%
Return on assets 0% · Top 25%
Net margin (TTM) 0% · Top 25%
Operating margin (TTM) 0% · Top 25%
Revenue growth 0% · Top 25%
Dividend yield (TTM) 12.3% · Top 25%
Debt / equity 0.34× · Higher than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 98
FUTURE0 · sector 0
PAST0 · sector 0
HEALTH83 · sector 89
DIVIDEND100 · sector 86

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Real Estate Operations stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
SMPH SMPH 17.80 PHP 17.11 PHP −4%
AC AC 490.00 PHP 735.41 PHP +50%
ALI ALI 15.62 PHP 18.82 PHP +20%
DDPR DDPR 93.65 PHP 113.05 PHP +21%
ALLHC ALLHC 1.18 PHP 0.7300 PHP −38%
DMW DMW 4.90 PHP 5.11 PHP +4%
505355 505355 ₹1,039 ₹1,996 +92%
SLI SLI 1.97 PHP 4.93 PHP +150%
SHNG SHNG 3.25 PHP 8.13 PHP +150%
GERI GERI 0.6200 PHP 1.55 PHP +150%

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Frequently asked questions

Is FLIGHT CENTRE (FLI) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of €3.71 versus the last price from Jul 17, 2026 of €7.30, about −49% upside (overvalued).
What is the fair value of FLI?
Our model-based fair value for FLIGHT CENTRE is €3.71 (as of Aug 23, 2026), built from audited fundamentals. Last price (from Jul 17, 2026): €7.30.
What is the quality score of FLI?
FLIGHT CENTRE has a Quality Score of 51/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for FLIGHT CENTRE (FLI)?
Our model-based price target is the fair value of €3.71 (as of Aug 23, 2026) from 11 valuation models. Cautious scenario €2.79, optimistic scenario €4.64. It is a calculation from audited fundamentals, not an analyst target.
What is the FLIGHT CENTRE stock forecast for 2026?
Our models put fair value at €3.71, about −49% upside versus the last price from Jul 17, 2026 of €7.30 (overvalued). Cautious scenario €2.79, optimistic scenario €4.64. The calculation is refreshed regularly with new filings.
What is the net profit margin of FLI?
The net profit margin of FLIGHT CENTRE is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
Does FLIGHT CENTRE pay a dividend?
FLIGHT CENTRE currently shows a dividend yield of about 12.25% relative to its recent price (as of Aug 23, 2026).
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