Flight Centre Travel Group Ltd (FLT) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Flight Centre Travel Group Ltd stock A$15.88, price A$12.35, upside +28.6%, quality 57 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range A$9.36 – A$22.15 · fair‑value band A$11.40 – A$20.31 · the A$12.35 price screens below the A$15.88 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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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.
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The company offers leisure travel services for the niche sectors, as well as mass, youth, premium, and cruise markets; and corporate travel services for organizations of various sizes across industries, as well as supplies products to its national and international network, or travel retail outlets.
It also provides tour operations, hotel management, and destination management services. In addition, the company offers other travel related services, including foreign currency exchange and travel academies; recruitment marketing and bike retailing; and employee benefit services.
It provides its services primarily under the Flight Centre brand, as well as other travel brands. The company was formerly known as Flight Centre Limited and changed its name to Flight Centre Travel Group Limited in November 2013.
Flight Centre Travel Group Limited was incorporated in 1987 and is headquartered in South Brisbane, Australia.
Stock analysis
Flight Centre Travel Group Ltd (FLT) currently trades at A$12.35, while our model-based Fair Value estimate is A$15.88, implying the stock looks roughly 22% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of A$22.75 per share, and 16 of the 24 models we run sit above the A$12.35 price.
Bear case: the Dividend Discount group reads lowest at A$6.33, and 8 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: A$11.40 (bear) to A$20.31 (bull), the price of A$12.35 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Flight Centre Travel Group Ltd reported revenue of A$2.9B in FY2026 versus A$1.0B in FY2022, a compound +29.7%/yr. Reported net income was A$149M in FY2026.
Key figures
Market cap A$2.6B (≈ $1.8B) Small · P/E ratio 17.6 · P/S ratio 0.92 · EPS (TTM) A$0.7000 · Dividend yield 3.3% · Net margin 5.2% · Return on equity 12.9% · Return on assets (EBIT) 1.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (medium confidence).
What moves the price
The share trades about 22% below its 52-week high and 32% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 13% fair-value upside, at 29%, FLT screens cheaper than that median.
Fair Value models
BearA$11.40Fair Value A$15.88BullA$20.31
Price A$12.35 · Upside +28.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 4 months old). Earnings retained since then (A$0.1041 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.73/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+7.8%
Revenue growth 26 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+0.7%
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What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
+10.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.7%
Dividend (yield on the price)3.3%
Profit margin 2021 to 2026 ⓘ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.−208% → 7%
⚠ Revenue per share shrinking 6.1%/yr over ~10Y (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.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−1.7%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (Australia: IMF forecast 3.0% a year to 2030, 2.9% from 2016 to 2025) that is about −4.6% a year for the price and +2.5% for the forecasts.
Compare Flight Centre Travel Group Ltd with another stock
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Peer Groupⓘ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.Travel Services · 87 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+28.6% · Above median
Profitability
Return on equity (12 months)12.9% · Above median
Return on assets2.9% · Below median
Net margin (12 months)5.2% · Above median
Operating margin (12 months)7.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)−0.7% · Below median
Dividend yield (12 months)3.3% · Above median
Balance sheet
Debt / equity0.78× · Highest 25%
Valuation Multiplesvs Travel Services median · lower = cheaper
P/E (12 months)17.6× · Cheaper than median
P/B2.39× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)0.92× · Cheaper than median
Price / free cash flow (fiscal year)9.8× · Cheaper than median
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Cite: Fair Value Calculator (2026). "Flight Centre Travel Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/FLT
Frequently asked questions
Is Flight Centre Travel Group Ltd (FLT) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of A$15.88 versus a price of A$12.35, about +29% upside (undervalued).
What is the fair value of FLT?
Our model-based fair value for Flight Centre Travel Group Ltd is A$15.88 (as of Nov 8, 2026), built from audited fundamentals. The current price: A$12.35.
What is the quality score of FLT?
Flight Centre Travel Group Ltd has a Quality Score of 57/100. 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 Travel Group Ltd (FLT)?
Our model-based price target is the fair value of A$15.88 (as of Nov 8, 2026) from 24 valuation models. Cautious scenario A$11.40, optimistic scenario A$20.31. It is a calculation from audited fundamentals, not an analyst target.
What is the Flight Centre Travel Group Ltd stock forecast for 2026?
Our models put fair value at A$15.88, about +29% upside versus a price of A$12.35 (undervalued). Cautious scenario A$11.40, optimistic scenario A$20.31. The calculation is refreshed regularly with new filings.
What is the revenue of Flight Centre Travel Group Ltd (FLT)?
Flight Centre Travel Group Ltd reported trailing-twelve-month revenue of about A$2.9B (latest available figure, as of Nov 8, 2026).
Does Flight Centre Travel Group Ltd pay a dividend?
Flight Centre Travel Group Ltd currently shows a dividend yield of 3.32% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Flight Centre Travel Group Ltd (FLT) and when is the ex-dividend date?
Flight Centre Travel Group Ltd pays a dividend of A$0.41 per share a year, a dividend yield of 3.3%. The last ex-dividend date was Sep 17, 2026. The payout ratio is 58.6% of earnings. Free cash flow covers the dividend 3.23 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Flight Centre Travel Group Ltd (FLT)?
For today's price to be fair in a discounted-cash-flow model, Flight Centre Travel Group Ltd would have to grow free cash flow by -1.7 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +48.5 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of FLT use?
Our models discount Flight Centre Travel Group Ltd at 10.3 %: a base by market capitalisation (small), damped by beta 0.75, country premium for Australia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Flight Centre Travel Group Ltd that is -1.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has Flight Centre Travel Group Ltd (FLT) delivered so far?
Over the past 5 years revenue at Flight Centre Travel Group Ltd grew +48.5 % a year. The price currently implies free-cash-flow growth of -1.7 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Flight Centre Travel Group Ltd (FLT) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Flight Centre Travel Group Ltd (-1.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Flight Centre Travel Group Ltd (FLT)?
The free-cash-flow yield on the price is 10.21 %: that much free cash flow Flight Centre Travel Group Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Flight Centre Travel Group Ltd (FLT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Flight Centre Travel Group Ltd it is A$15.88 per share (as of Nov 8, 2026), against a price of A$12.35. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Flight Centre Travel Group Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, FLT trades below its calculated fair value: price A$12.35, fair value A$15.88, a gap of about +29% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FLT?
No. The price is what the market pays today (A$12.35); the fair value is what the company's own numbers justify (A$15.88). For Flight Centre Travel Group Ltd the two are A$3.53 per share apart. That gap is exactly why we show both numbers side by side.
How much is Flight Centre Travel Group Ltd worth?
The market values Flight Centre Travel Group Ltd at about A$2.6B (market capitalisation, as of Nov 8, 2026). Per share that is A$12.35; our models calculate a fair value of A$15.88 per share.
What do the bullish and bearish scenarios say about FLT?
Our models span a range for Flight Centre Travel Group Ltd: cautious scenario A$11.40, base A$15.88, optimistic A$20.31 per share (as of Nov 8, 2026, price A$12.35). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FLT?
Flight Centre Travel Group Ltd trades at a price-to-earnings ratio of 17.6 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of A$15.88 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2017 to 2026), reported earnings: 22.1. Other multiples: PEG 1.2, P/B 2.4, P/S 0.9, EV/EBITDA 11.4.
What is the PEG ratio of FLT?
The PEG ratio of Flight Centre Travel Group Ltd is 1.18 (P/E divided by earnings growth, as of Nov 8, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Flight Centre Travel Group Ltd (FLT)?
Balance-sheet figures for Flight Centre Travel Group Ltd (as of Nov 8, 2026): return on equity 12.9%, debt of 0.78 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is FLT from its 52-week high?
Flight Centre Travel Group Ltd trades at A$12.35, about 22% below its 52-week high of A$15.83 and 32% above the low of A$9.36 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of A$15.88 is for.
Which stocks are comparable to Flight Centre Travel Group Ltd?
From the same area (Consumer Cyclical) we also value Booking Holdings, Airbnb, Inc, Royal Caribbean Cruises Ltd, Viking Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Flight Centre Travel Group Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price A$12.35, calculated fair value A$15.88 (+29%), Quality Score 57/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FLT calculated?
We run Flight Centre Travel Group Ltd through 24 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of A$15.88 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Flight Centre Travel Group Ltd currently trades 22% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Flight Centre Travel Group Ltd (FLT)?
The closing price on Nov 6, 2026 was A$12.35. Our model-based fair value is A$15.88, about +29% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Flight Centre Travel Group Ltd right now?
Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Flight Centre Travel Group Ltd (FLT) come from?
Earnings per share at Flight Centre Travel Group Ltd grew −14.5 % a year from 2015 to 2026. Broken into its drivers: revenue per share −7.7 %, EBIT margin −5.7 %, tax rate −1.5 %, residual (interest, one-offs) −0.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Flight Centre Travel Group Ltd
How large is the market capitalisation of Flight Centre Travel Group Ltd (FLT)?
The market capitalisation of Flight Centre Travel Group Ltd is A$2.6B (≈ $1.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Flight Centre Travel Group Ltd (FLT)?
The price-to-sales ratio of Flight Centre Travel Group Ltd is 0.92 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Flight Centre Travel Group Ltd (FLT)?
Earnings per share at Flight Centre Travel Group Ltd are A$0.7000 (price ÷ EPS = P/E 17.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Flight Centre Travel Group Ltd (FLT)?
The dividend yield of Flight Centre Travel Group Ltd is 3.3% (payout 58.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Flight Centre Travel Group Ltd (FLT)?
The net margin of Flight Centre Travel Group Ltd is 5.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Flight Centre Travel Group Ltd (FLT)?
The return on equity (ROE) of Flight Centre Travel Group Ltd is 12.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Flight Centre Travel Group Ltd (FLT)?
On an EBIT basis the return on assets of Flight Centre Travel Group Ltd is 1.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Flight Centre Travel Group Ltd (FLT)?
The operating margin of Flight Centre Travel Group Ltd is 7.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Flight Centre Travel Group Ltd (FLT)?
Revenue at Flight Centre Travel Group Ltd is growing −0.7% versus a year earlier (3y avg +7.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Flight Centre Travel Group Ltd (FLT)?
Earnings per share at Flight Centre Travel Group Ltd are growing +90.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Flight Centre Travel Group Ltd (FLT) carry?
The net debt of Flight Centre Travel Group Ltd is A$410M (fiscal year 2026, ≈ 1.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 8, 2026