Cash Flow Analysis from Financial Statements

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This assignment focuses on analyzing the cash flow statements of a company. It provides three years' worth of data detailing the company's cash flows from operating, investing, and financing activities. Students need to analyze this information to understand the company's cash flow patterns and identify trends over time.

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Running Head: Finance For Business
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Project Report: Finance for business

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Contents
Introduction.......................................................................................................................3
Company description........................................................................................................3
1. Ownership governance structure.............................................................................3
2. Performance ratios...................................................................................................4
3. Changes in stock price.............................................................................................6
4. Significant factors....................................................................................................7
5. Calculation of CAPM and beta values.....................................................................7
6. WACC calculations.................................................................................................8
7. Debt ratios................................................................................................................9
8. Dividend policy......................................................................................................10
9. Recommendation and Conclusion.........................................................................10
References.......................................................................................................................11
Appendix.........................................................................................................................13
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Introduction:
Financial management is a study which evaluates the financial position and the
performance of the company. In this report, firstly, financial statements of the company have
been evaluated and study of ratio analysis has been conducted to measure the main financial
figures of the company. Performance ratios have been calculated to evaluate the profitability
and capital structure position of the company. In addition, stock price of Qantas Airways
Limited of last 2 year has been analyzed and it has been compared with the stock price of all
ordinary shares of Australia. More to it, CAPM study has also been conducted to evaluate the
real worth of the company in the market. Further, WACC has been calculated to evaluate the
total cost of the company to raise the funds and make a better decision about the investment
in the company. Lastly, debt and gearing ratios have been calculated to evaluate the capital
structure of the company.
Company description:
Qantas airways are a flagship airline company. The main functions of the company are
operated through its Australian office which is at Queensland in Australia. This company has
come into existence in 1920. Various subsidiary companies are managed by the company to
operate and administer its business. Further, the company has largest share in the Australian
domestic market (Investors, 2018). Accoridng to a current report, 65% share of Australian
airlines are held by the Qantas Airways. Currently, the company has diversified its market to
manage the performance and the position of the company.
1. Ownership governance structure:
It is required for every company and the stakeholders of the company to evaluate and
identify the performance and the position of the company through evaluating the governance
structure of the company and the changes into the management of the company from last
year. This study makes it easy for the company to manage the position and the worth of the
company in the market. Further, this study explains that how many people owned to the
company and how much stock is held by them. Following is the details of the company:
Substantial stakeholders:
Annual report of the company has been evaluated to identify the performance of the
company and through the study; it has been found that there is not stockholder in the
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company who has more than 20% stock in the total ownership of the company. Further, it
explains that the company has not any investor who has invested more than 5% in the stock
of the company (Annual Report, 2017).
Main people:
More, the main people of the company have also been evaluated and it has been
found that the Alan Joyce is the CEO of the company and he has changed various operations
of the company from its joining. Further, it has also been found that the Leigh Clifford is the
chairman of the company and it has also been explained that the company has not any main
people who has invested more than 5% in the stock of the company.
2. Performance ratios:
Performance ratios are the study which is conducted by teh companies and all the
parties which are related to the company to evaluate that how the position of the company in
current scenario. What are the changes which must be done by the company to enhance its
performance? Performance ratios make it easy for the company to manage the position in the
market (Hogarth and Makridakis, 2011). For this report, ROA, ROE and debt ratios have
been calculated. The study of them is as follows:
Return on assets (ROA):
Return on assets is a ratio which is calculated to examine the position of the assets in
terms of the total profit of the company. It explains that how much profits are calculated by
the company in recent year in terms of assets:
A. Return on assets= NPAT/ total Assets
852000/17221000
4.947%
The above calculations express that the return on assets of the company is 4.95%
which explains that the financial position of the company is moderate.
Return on equity (ROE):

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Return on equity is a ratio which is calculated to examine the position of the equity in
terms of the total profit of the company (Hillier, Grinblatt and Titman, 2011). It explains that
how much profits are calculated by the company in recent year in terms of equity:
B. Return on Equity= Net profit after tax/
ordinary equity
852000/3053000
27.91%
The above calculations express that the return on equity of the company is 27.91%
which explains that the financial position of the company is quite better in terms of equity.
Debt ratios:
Lastly, debt ratio is also a ratio which is calculated to examine the capital position of
the company in terms of the total liabilities and the total equity of the company. It explains
that how is the position of the company in the market. Further, it explains about the cost and
the return of the company. Following is the calculations of the company:
C. Debt Ratios = Total Liabilities/
total assets
13684000/17221000
79.46%
The above calculations express that the debt ratio of the company is 79.46% which
explains that the financial position and capital structure position of the company is quite
better in terms of liability and equity (Higgins, 2012). Further, the below equation has also
been solved to manage the performance of the company:
EBIT / TA * NPAT / EBIT * TA/ OE = NPAT / OE
(993000/17221000)*(852000/993000)*(17221000/305300)= (852000/305300)
279.07% 279.07%
(Morningstar, 2018)
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TA/OE:
Further, the impact of total assets and total equity on the return on assets and return on
equity of the company has been evaluated so that a better decision could be made by the
company. Further, the equation of TA and TE explains that the level of total assets and total
equity directly affects the performance and the position of the ROA and ROE of the
company. It is required for the company to evaluate the position and the performance of
company and thus the management must evaluate this phenomenon and make a better
decision and position accordingly.
TA/TE = (NPAT/ Total
assets)/(NPAT/TE)
TA/TE =Total assets/TE
(Garrison, Noreen, Brewer and McGowan, 2010)
ROA and ROE:
Further, the study has been carried on further and it has been evaluated that how the
ROA and ROE positions are different to each other. Through the study, it has been found that
the ROA is significantly lower than the ROE of the company and the differences are dew t
the level of the equity and the total assets of an organization. Accoridng to the books and the
articles, it has been found that the assets of the company could never be more than the equity
of the company due to teh accounting double entry system rule.
3. Changes in stock price:
More to it, the study has been carried further and it has been found that the how much
difference is among there in the QAN stock price in last 2 years and at the same time the
comparative study has been done over AORD to evaluate the differences and the correlation
among both the stocks. The following graph explains about the stock prices of both the stock.
Following is the graph which represents about the stock price of both the stock:
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(Yahoo Finance, 2018)
Evalaution:
Accoridng to the abive study over both the prices of the stock, it has been evalauted
that the stock price of the QAN is bit stbale than the stock price of the AORD. At the same
time, it has also been found that the AORD prices have also not been changed lot in last 2
years. Further, the correlation of both the stock has been calculated to examine the position of
the company and the performance of the company. Correlation of the company is 0.58 which
explain that both the stocks are moderate. It explains that the changes into the stock price of
QAN also affect the stock price of AORD.
4. Significant factors:
Further, the study has been done over the various articles and news to evaluate the
changes into the stock price from last year. This study has been done accoridng to the
changes in the stock price and the management of the company. Following is some of the
factors:
a. Significant management changes:
The changes into the management have directly impacted over the stock price of the
company and positive changes have been found.
b. Competitors impact:
Further, the changes into the competitor position have also impacted over the stock
price of the company and some negative changes have been found (Arnold, 2013).
c. Analyst forecast:

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More, the news about financial position has also impacted over the stock price of the
company and some positive changes have been found.
d. Law suits:
More, the news about various law suits also impacted over the stock price of the
company and some negative and positive changes have been found (Yahoo Finance,
2018).
e. Industry wide factors:
More, the news about industry factors have also impacted over the stock price of the
company and some positive changes have been found (Baker and Nofsinger, 2010).
5. Calculation of CAPM and beta values:
Beta:
The further study explains that the beta of QAN stocks is 0.21% which explains about
the less risk of the company.
CAPM:
Further, following table explains about the CAPM of the company:
Calculation of cost of equity (CAPM)
RF 4.00%
RM 6.00%
Beta 0.03%
Required rate of return 4.00%
(Besley and Brigham, 2008)
Explanation:
The CAPM calculations explains that required rate of return of the company is 4%
which means if the company want to raise the funds through equity than the company would
have to pay 4% of the total profit to the stockholder of the company. Further, it has been
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found that the company should raise the funds through equity after analyzing the capital
structure of the company.
6. WACC calculations:
Following table explains about the WACC of the company:
Calculation of WACC
Price Cost Weight WACC
Debt 31,44,000 4.20% 0.50734 0.02131
Equity 30,53,000 4.00% 0.49266 0.01971
61,97,000 Kd 4.10%
Calculation of cost of debt
Outstanding debt 31,44,000
interest rate 6%
Tax rate 0.3
Kd 4.20%
Calculation of cost of equity
(CAPM)
RF 4.00%
RM 6.00%
Beta 0.03%
Required rate of return 4.00%
(Morningstar, 2018)
Evaluation:
The above calculations explain about the cost of debt and the cost of equity of the
company and further, it explains about the position of the company in terms of the cost to
raise the funds for the operations and the functions of the company (Horngren et al, 2005).
Further, it has also been found that the current cost of capital of the company is 4.10%.
7. Debt ratios:
Optimal capital structure:
Capital structure depicts about a best balance of debt and equity of the
company. It explains that the capital ratios of the company are as follows:
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2017 2016
A. Debt Ratios = Total Liabilities/ total
assets
Total Liabilities/ total
assets
13684000/17221000 13450000/16705000
79.46% 80.51%
The calculations explain that the capital structure of the company is not stable and the
company has lowered the total assets of the company in current year.
Gearing ratios:
Further, the gearing ratios of the company have been calculated and it has been found
that the company has raised the level of total liabilities and total assets to manage the position
of the company. Following are the details about it:
2017 2016
Gearing ratios
=
Total Liabilities/ Capital
employed
Total Liabilities/ Capital
employed
13684000/(17221000-
7095000)
13450000/(16705000-7028000)
135.14% 138.99%
8. Dividend policy:
More to it, the study has been performed on dividend policies of the company and it has
been analyzed that the company is following the relevant dividend policies. Company always
offers a great amount of dividend to its investors and thus the attractive of the company is
quite higher among the investors and the shareholders of the company (Kaplan and Atkinson,
2015).
9. Recommendation and Conclusion:
Further, accoridng to the study, it is recommended to the investors to invest into the
company as it would offer great return to the company and at the same time the position of
the investment would be better. The performance ratios and the stock prices changes explain
about the better position of the company.

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References:
Ackert, L. and Deaves, R. 2009. Behavioral Finance: Psychology, Decision-Making, and
Markets. Cengage Learning.
Arnold, G., 2013. Corporate financial management. Pearson Higher Ed.
Baker, H.K. and Nofsinger, J.R. 2010. Behavioral Finance: Investors, Corporations, and
Markets. John Wiley & Sons.
Besley, S. and Brigham, E.F., 2008. Essentials of managerial finance. Thomson South-
Western.
Garrison, R.H., Noreen, E.W., Brewer, P.C. and McGowan, A., 2010. Managerial
accounting. Issues in Accounting Education, 25(4), pp.792-793.
Higgins, R. C., 2012. Analysis for financial management. McGraw-Hill/Irwin.
Hillier, D., Grinblatt, M. and Titman, S., 2011. Financial markets and corporate strategy.
McGraw Hill.
Hogarth, R.M. and Makridakis, S., 2011. Forecasting and planning: An
evaluation. Management science, 27(2), pp.115-138.
Horngren, C.T., Sundem, G.L., Stratton, W.O., Burgstahler, D. and Schatzberg, J., 2005.
Introduction to management accounting. Upper Saddle River, New Jersey: Prentice Hall.
Kaplan, R.S. and Atkinson, A.A., 2015. Advanced management accounting. PHI Learning.
Madura, J., 2011. International financial management. Cengage Learning.
Yahoo Finance. 2018. Qantas Airways Limited. viewed Jan 23, 2018,
https://in.finance.yahoo.com/quote/QAN.AX/history?
period1=1451586600&period2=1514658600&interval=1d&filter=history&frequency=1d
Morningstar. 2018. Qantas Airways Limited. viewed Jan 23, 2018,
http://financials.morningstar.com/cash-flow/cf.html?t=QAN&region=aus&culture=en-US
Invetsors. 2018. Qantas Airways Limited. viewed Jan 23, 2018,
http://www.qantas.com/travel/airlines/investors/global/en
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Annual report. 2018. Qantas Airways Limited. viewed Jan 23, 2018,
https://www.qantas.com/infodetail/about/corporateGovernance/2016AnnualReview.pdf
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Appendix:
QAN AORD
Date
Adj
Close Return Date Adj Close Return
03-01-
2016 3.83132 03-01-2016 5322.80
04-01-
2016 3.81258 0.00 04-01-2016 5239.20 -0.02
05-01-
2016 3.77511 -0.01 05-01-2016 5178.00 -0.01
06-01-
2016 3.82195 0.01 06-01-2016 5068.80 -0.02
07-01-
2016 3.80321 0.00 07-01-2016 5049.40 0.00
10-01-
2016 3.72827 -0.02 10-01-2016 4990.70 -0.01
11-01-
2016 3.81258 0.02 11-01-2016 4982.20 0.00
12-01-
2016 3.85005 0.01 12-01-2016 5041.60 0.01
13-01-
2016 3.83132 0.00 13-01-2016 4964.10 -0.02
14-01-
2016 3.78448 -0.01 14-01-2016 4948.50 0.00
17-01-
2016 3.75638 -0.01 17-01-2016 4911.80 -0.01
18-01-
2016 3.78448 0.01 18-01-2016 4955.10 0.01
19-01-
2016 3.74701 -0.01 19-01-2016 4896.90 -0.01
20-01-
2016 3.68144 -0.02 20-01-2016 4917.60 0.00
21-01-
2016 3.71891 0.01 21-01-2016 4969.60 0.01
24-01-
2016 3.61586 -0.03 24-01-2016 5057.10 0.02
26-01-
2016 3.59713 -0.01 26-01-2016 5000.80 -0.01
27-01-
2016 3.57839 -0.01 27-01-2016 5028.10 0.01
28-01-
2016 3.6346 0.02 28-01-2016 5056.60 0.01
31-01-
2016 3.71891 0.02 31-01-2016 5094.30 0.01
01-02-
2016 3.72827 0.00 01-02-2016 5044.00 -0.01

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02-02-
2016 3.65333 -0.02 02-02-2016 4930.80 -0.02
03-02-
2016 3.61586 -0.01 03-02-2016 5029.30 0.02
04-02-
2016 3.58776 -0.01 04-02-2016 5025.60 0.00
07-02-
2016 3.55029 -0.01 07-02-2016 5022.10 0.00
08-02-
2016 3.52219 -0.01 08-02-2016 4882.60 -0.03
09-02-
2016 3.51282 0.00 09-02-2016 4826.50 -0.01
10-02-
2016 3.58776 0.02 10-02-2016 4870.90 0.01
11-02-
2016 3.57839 0.00 11-02-2016 4816.60 -0.01
14-02-
2016 3.61586 0.01 14-02-2016 4893.40 0.02
15-02-
2016 3.67207 0.02 15-02-2016 4961.60 0.01
16-02-
2016 3.67207 0.00 16-02-2016 4938.40 0.00
17-02-
2016 3.70017 0.01 17-02-2016 5047.10 0.02
18-02-
2016 3.70954 0.00 18-02-2016 5008.30 -0.01
21-02-
2016 3.73764 0.01 21-02-2016 5056.60 0.01
22-02-
2016 3.55029 -0.05 22-02-2016 5039.10 0.00
23-02-
2016 3.71891 0.05 23-02-2016 4943.30 -0.02
24-02-
2016 3.65333 -0.02 24-02-2016 4944.70 0.00
25-02-
2016 3.62523 -0.01 25-02-2016 4945.10 0.00
28-02-
2016 3.61586 0.00 28-02-2016 4947.90 0.00
29-02-
2016 3.64397 0.01 29-02-2016 4989.60 0.01
01-03-
2016 3.6346 0.00 01-03-2016 5083.50 0.02
02-03-
2016 3.58776 -0.01 02-03-2016 5142.20 0.01
03-03-
2016 3.48472 -0.03 03-03-2016 5151.10 0.00
06-03-
2016 3.55029 0.02 06-03-2016 5204.70 0.01
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07-03-
2016 3.55966 0.00 07-03-2016 5169.50 -0.01
08-03-
2016 3.61586 0.02 08-03-2016 5215.70 0.01
09-03-
2016 3.61586 0.00 09-03-2016 5210.90 0.00
10-03-
2016 3.70954 0.03 10-03-2016 5224.80 0.00
13-03-
2016 3.81258 0.03 13-03-2016 5242.40 0.00
14-03-
2016 3.80321 0.00 14-03-2016 5168.60 -0.01
15-03-
2016 3.87815 0.02 15-03-2016 5175.70 0.00
16-03-
2016 3.85942 0.00 16-03-2016 5226.40 0.01
17-03-
2016 3.75638 -0.03 17-03-2016 5239.30 0.00
20-03-
2016 3.79385 0.01 20-03-2016 5224.90 0.00
21-03-
2016 3.81258 0.00 21-03-2016 5230.80 0.00
22-03-
2016 3.81258 0.00 22-03-2016 5204.30 -0.01
23-03-
2016 3.81258 0.00 23-03-2016 5151.60 -0.01
28-03-
2016 3.77511 -0.01 28-03-2016 5076.20 -0.01
29-03-
2016 3.71891 -0.01 29-03-2016 5081.50 0.00
30-03-
2016 3.81258 0.03 30-03-2016 5151.80 0.01
31-03-
2016 3.87815 0.02 31-03-2016 5073.80 -0.02
04-04-
2016 3.89689 0.00 04-04-2016 5070.10 0.00
05-04-
2016 3.79385 -0.03 05-04-2016 5000.40 -0.01
06-04-
2016 3.85005 0.01 06-04-2016 5024.60 0.00
07-04-
2016 3.77511 -0.02 07-04-2016 5042.30 0.00
08-04-
2016 3.73764 -0.01 08-04-2016 5018.00 0.00
11-04-
2016 3.73764 0.00 11-04-2016 5013.20 0.00
12-04-
2016 3.75638 0.01 12-04-2016 5053.70 0.01
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13-04-
2016 3.71891 -0.01 13-04-2016 5127.20 0.01
14-04-
2016 3.75638 0.01 14-04-2016 5187.70 0.01
15-04-
2016 3.80321 0.01 15-04-2016 5224.10 0.01
18-04-
2016 3.39104 -0.11 18-04-2016 5204.90 0.00
19-04-
2016 3.25053 -0.04 19-04-2016 5254.70 0.01
20-04-
2016 3.29737 0.01 20-04-2016 5281.20 0.01
21-04-
2016 3.20369 -0.03 21-04-2016 5336.40 0.01
22-04-
2016 3.15685 -0.01 22-04-2016 5299.20 -0.01
26-04-
2016 3.00697 -0.05 26-04-2016 5283.60 0.00
27-04-
2016 3.12875 0.04 27-04-2016 5250.90 -0.01
28-04-
2016 3.06318 -0.02 28-04-2016 5289.40 0.01
29-04-
2016 3.01634 -0.02 29-04-2016 5316.00 0.01
02-05-
2016 3.02571 0.00 02-05-2016 5312.00 0.00
03-05-
2016 3.11002 0.03 03-05-2016 5415.00 0.02
04-05-
2016 3.16622 0.02 04-05-2016 5335.60 -0.01
05-05-
2016 3.18496 0.01 05-05-2016 5344.50 0.00
06-05-
2016 3.11002 -0.02 06-05-2016 5358.60 0.00
09-05-
2016 3.11938 0.00 09-05-2016 5387.80 0.01
10-05-
2016 3.19432 0.02 10-05-2016 5403.90 0.00
11-05-
2016 3.19432 0.00 11-05-2016 5434.80 0.01
12-05-
2016 3.15685 -0.01 12-05-2016 5423.40 0.00
13-05-
2016 3.07255 -0.03 13-05-2016 5396.30 0.00
16-05-
2016 3.18496 0.04 16-05-2016 5420.30 0.00
17-05-
2016 3.17559 0.00 17-05-2016 5458.50 0.01

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18-05-
2016 3.10065 -0.02 18-05-2016 5420.50 -0.01
19-05-
2016 3.03508 -0.02 19-05-2016 5385.60 -0.01
20-05-
2016 3.04444 0.00 20-05-2016 5415.20 0.01
23-05-
2016 2.99761 -0.02 23-05-2016 5384.90 -0.01
24-05-
2016 2.90393 -0.03 24-05-2016 5361.90 0.00
25-05-
2016 2.96014 0.02 25-05-2016 5436.80 0.01
26-05-
2016 2.92267 -0.01 26-05-2016 5451.90 0.00
27-05-
2016 2.81026 -0.04 27-05-2016 5469.70 0.00
30-05-
2016 2.90393 0.03 30-05-2016 5473.60 0.00
31-05-
2016 2.8852 -0.01 31-05-2016 5447.80 0.00
01-06-
2016 2.90393 0.01 01-06-2016 5395.20 -0.01
02-06-
2016 2.81026 -0.03 02-06-2016 5354.20 -0.01
03-06-
2016 2.73532 -0.03 03-06-2016 5392.50 0.01
06-06-
2016 2.73532 0.00 06-06-2016 5431.00 0.01
07-06-
2016 2.74468 0.00 07-06-2016 5441.00 0.00
08-06-
2016 2.84773 0.04 08-06-2016 5441.10 0.00
09-06-
2016 2.81962 -0.01 09-06-2016 5437.40 0.00
10-06-
2016 2.81026 0.00 10-06-2016 5391.60 -0.01
14-06-
2016 2.67911 -0.05 14-06-2016 5282.50 -0.02
15-06-
2016 2.68848 0.00 15-06-2016 5230.40 -0.01
16-06-
2016 2.66974 -0.01 16-06-2016 5231.70 0.00
17-06-
2016 2.73532 0.02 17-06-2016 5248.30 0.00
20-06-
2016 2.72595 0.00 20-06-2016 5335.60 0.02
21-06-
2016 2.74468 0.01 21-06-2016 5353.30 0.00
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22-06-
2016 2.77279 0.01 22-06-2016 5349.50 0.00
23-06-
2016 2.72595 -0.02 23-06-2016 5358.60 0.00
24-06-
2016 2.57607 -0.05 24-06-2016 5192.80 -0.03
27-06-
2016 2.55733 -0.01 27-06-2016 5216.20 0.00
28-06-
2016 2.44492 -0.04 28-06-2016 5179.70 -0.01
29-06-
2016 2.5948 0.06 29-06-2016 5221.00 0.01
30-06-
2016 2.64164 0.02 30-06-2016 5310.40 0.02
01-07-
2016 2.58544 -0.02 01-07-2016 5327.00 0.00
04-07-
2016 2.63227 0.02 04-07-2016 5365.20 0.01
05-07-
2016 2.61354 -0.01 05-07-2016 5312.80 -0.01
06-07-
2016 2.57607 -0.01 06-07-2016 5284.70 -0.01
07-07-
2016 2.60417 0.01 07-07-2016 5311.00 0.00
08-07-
2016 2.62291 0.01 08-07-2016 5315.60 0.00
11-07-
2016 2.66038 0.01 11-07-2016 5417.50 0.02
12-07-
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2017 5.68864 -0.01 11-08-2017 5743.50 -0.01
14-08-
2017 5.67876 0.00 14-08-2017 5778.60 0.01
15-08-
2017 5.70839 0.01 15-08-2017 5804.00 0.00
16-08-
2017 5.75777 0.01 16-08-2017 5830.80 0.00
17-08-
2017 5.8269 0.01 17-08-2017 5827.20 0.00
18-08-
2017 5.62938 -0.03 18-08-2017 5798.50 0.00
21-08-
2017 5.64913 0.00 21-08-2017 5780.00 0.00
22-08-
2017 5.66889 0.00 22-08-2017 5804.80 0.00
23-08-
2017 5.71827 0.01 23-08-2017 5792.70 0.00
24-08-
2017 5.72814 0.00 24-08-2017 5801.70 0.00
25-08-
2017 5.94542 0.04 25-08-2017 5803.40 0.00
28-08-
2017 5.60963 -0.06 28-08-2017 5771.20 -0.01
29-08-
2017 5.49112 -0.02 29-08-2017 5733.60 -0.01
30-08-
2017 5.58988 0.02 30-08-2017 5733.80 0.00
31-08-
2017 5.64913 0.01 31-08-2017 5776.30 0.01
01-09-
2017 5.62938 0.00 01-09-2017 5786.10 0.00
04-09-
2017 5.55037 -0.01 04-09-2017 5763.80 0.00
05-09-
2017 5.56025 0.00 05-09-2017 5767.80 0.00
06-09-
2017 5.63926 0.01 06-09-2017 5752.90 0.00
07-09-
2017 5.58 -0.01 07-09-2017 5753.80 0.00
08-09-
2017 5.65 0.01 08-09-2017 5739.40 0.00
11-09-
2017 5.73 0.01 11-09-2017 5779.00 0.01
12-09-
2017 5.7 -0.01 12-09-2017 5806.40 0.00
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13-09-
2017 5.8 0.02 13-09-2017 5804.00 0.00
14-09-
2017 5.89 0.02 14-09-2017 5798.40 0.00
15-09-
2017 5.82 -0.01 15-09-2017 5755.80 -0.01
18-09-
2017 5.84 0.00 18-09-2017 5779.00 0.00
19-09-
2017 5.88 0.01 19-09-2017 5772.40 0.00
20-09-
2017 5.89 0.00 20-09-2017 5769.70 0.00
21-09-
2017 5.79 -0.02 21-09-2017 5716.70 -0.01
22-09-
2017 5.8 0.00 22-09-2017 5740.60 0.00
25-09-
2017 5.8 0.00 25-09-2017 5741.70 0.00
26-09-
2017 5.77 -0.01 26-09-2017 5729.60 0.00
27-09-
2017 5.77 0.00 27-09-2017 5725.50 0.00
28-09-
2017 5.72 -0.01 28-09-2017 5731.50 0.00
29-09-
2017 5.83 0.02 29-09-2017 5744.90 0.00
01-10-
2017 5.91 0.01 01-10-2017 5791.30 0.01
02-10-
2017 5.91 0.00 02-10-2017 5764.20 0.00
03-10-
2017 5.93 0.00 03-10-2017 5719.60 -0.01
04-10-
2017 6.12 0.03 04-10-2017 5720.30 0.00
05-10-
2017 6.13 0.00 05-10-2017 5777.40 0.01
08-10-
2017 6.2 0.01 08-10-2017 5805.10 0.00
09-10-
2017 6.18 0.00 09-10-2017 5807.10 0.00
10-10-
2017 6.24 0.01 10-10-2017 5840.80 0.01
11-10-
2017 6.29 0.01 11-10-2017 5864.10 0.00
12-10-
2017 6.31 0.00 12-10-2017 5884.70 0.00
15-10-
2017 6.25 -0.01 15-10-2017 5917.20 0.01

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Finance For Business
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16-10-
2017 null ####### 16-10-2017 5958.10 0.01
17-10-
2017 6.39 ####### 17-10-2017 5954.80 0.00
18-10-
2017 6.4 0.00 18-10-2017 5959.80 0.00
19-10-
2017 6.39 0.00 19-10-2017 5968.60 0.00
22-10-
2017 6.43 0.01 22-10-2017 5957.20 0.00
23-10-
2017 6.45 0.00 23-10-2017 5962.50 0.00
24-10-
2017 6.4 -0.01 24-10-2017 5972.70 0.00
25-10-
2017 6.31 -0.01 25-10-2017 5982.50 0.00
26-10-
2017 5.96 -0.06 26-10-2017 5969.30 0.00
29-10-
2017 6.07 0.02 29-10-2017 5983.70 0.00
30-10-
2017 6.15 0.01 30-10-2017 5976.40 0.00
31-10-
2017 6.23 0.01 31-10-2017 6005.50 0.00
01-11-
2017 6.22 0.00 01-11-2017 6002.20 0.00
02-11-
2017 6.21 0.00 02-11-2017 6030.30 0.00
05-11-
2017 6.06 -0.02 05-11-2017 6027.20 0.00
06-11-
2017 5.99 -0.01 06-11-2017 6087.40 0.01
07-11-
2017 6.03 0.01 07-11-2017 6089.10 0.00
08-11-
2017 6.02 0.00 08-11-2017 6122.40 0.01
09-11-
2017 5.91 -0.02 09-11-2017 6104.30 0.00
12-11-
2017 5.93 0.00 12-11-2017 6097.20 0.00
13-11-
2017 5.75 -0.03 13-11-2017 6048.70 -0.01
14-11-
2017 null ####### 14-11-2017 6012.30 -0.01
15-11-
2017 5.89 ####### 15-11-2017 6023.50 0.00
16-11-
2017 null ####### 16-11-2017 6038.30 0.00
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19-11-
2017 5.71 ####### 19-11-2017 6028.00 0.00
20-11-
2017 5.77 0.01 20-11-2017 6044.20 0.00
21-11-
2017 5.7 -0.01 21-11-2017 6067.60 0.00
22-11-
2017 5.67 -0.01 22-11-2017 6067.50 0.00
23-11-
2017 5.57 -0.02 23-11-2017 6063.10 0.00
26-11-
2017 5.6 0.01 26-11-2017 6070.40 0.00
27-11-
2017 5.62 0.00 27-11-2017 6066.70 0.00
28-11-
2017 5.65 0.01 28-11-2017 6096.10 0.00
29-11-
2017 5.67 0.00 29-11-2017 6057.20 -0.01
30-11-
2017 5.71 0.01 30-11-2017 6075.50 0.00
03-12-
2017 5.62 -0.02 03-12-2017 6070.60 0.00
04-12-
2017 5.49 -0.02 04-12-2017 6057.30 0.00
05-12-
2017 5.35 -0.03 05-12-2017 6029.90 0.00
06-12-
2017 5.34 0.00 06-12-2017 6060.80 0.01
07-12-
2017 5.34 0.00 07-12-2017 6077.40 0.00
10-12-
2017 5.3 -0.01 10-12-2017 6081.90 0.00
11-12-
2017 5.28 0.00 11-12-2017 6093.10 0.00
12-12-
2017 5.36 0.02 12-12-2017 6103.10 0.00
13-12-
2017 5.21 -0.03 13-12-2017 6096.40 0.00
14-12-
2017 5.18 -0.01 14-12-2017 6087.10 0.00
17-12-
2017 5.18 0.00 17-12-2017 6130.00 0.01
18-12-
2017 5.19 0.00 18-12-2017 6163.20 0.01
19-12-
2017 5.27 0.02 19-12-2017 6167.90 0.00
20-12-
2017 5.23 -0.01 20-12-2017 6156.30 0.00
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21-12-
2017 5.19 -0.01 21-12-2017 6167.30 0.00
26-12-
2017 5.06 -0.03 26-12-2017 6169.70 0.00
27-12-
2017 5.03 -0.01 27-12-2017 6189.40 0.00
28-12-
2017 5.04 0.00 28-12-2017 6167.30 0.00
QANTAS AIRWAYS LTD (QAN) CashFlowFlag INCOME STATEMENT
Fiscal year ends in June. AUD in thousands
except per share data. 2017-06 2016-06 2015-06
Revenue 15680000 15784000 15532000
Cost of revenue 6475000 6612000 7143000
Gross profit 9205000 9172000 8389000
Operating expenses
Sales, General and administrative 5281000 5255000 4779000
Other operating expenses 2931000 2690000 2846000
Total operating expenses 8212000 7945000 7625000
Operating income 993000 1227000 764000
Interest Expense 235000 284000 349000
Other income (expense) 423000 481000 374000
Income before income taxes 1181000 1424000 789000
Provision for income taxes 328000 395000 229000
Net income from continuing ops 853000 1029000 560000
Other -1000 -3000
Net income 852000 1029000 557000
Net income available to common
shareholders 852000 1029000 557000
Earnings per share
Basic 0.46 0.49 0.27
Diluted 0.46 0.49 0.27
Weighted average shares outstanding
Basic 1853000 2083000 2062044
Diluted 1853000 2083000 2062044
EBITDA 2798000 2932000 2234000
QANTAS AIRWAYS LTD (QAN) CashFlowFlag BALANCE SHEET
Fiscal year ends in June. AUD in thousands except
per share data. 2017-06 2016-06 2015-06
Assets
Current assets

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Cash
Cash and cash equivalents 1775000 1980000 2908000
Short-term investments 100000 229000 613000
Total cash 1875000 2209000 3521000
Receivables 784000 795000 959000
Inventories 351000 336000 322000
Prepaid expenses 109000
Other current assets 109000 118000 138000
Total current assets 3119000 3458000 5049000
Non-current assets
Property, plant and equipment
Gross property, plant and equipment 25940000 24457000 22464000
Accumulated Depreciation
-
13687000
-
12787000
-
11749000
Net property, plant and equipment 12253000 11670000 10715000
Equity and other investments 257000 243000 183000
Goodwill 207000 208000 206000
Intangible assets 818000 701000 597000
Deferred income taxes 39000 333000
Other long-term assets 567000 386000 447000
Total non-current assets 14102000 13247000 12481000
Total assets 17221000 16705000 17530000
Liabilities and stockholders' equity
Liabilities
Current liabilities
Short-term debt 330000 338000 678000
Capital leases 103000 103000 93000
Accounts payable 2067000 1986000 550000
Deferred revenues 3685000 3525000 3584000
Other current liabilities 910000 1076000 2565000
Total current liabilities 7095000 7028000 7470000
Non-current liabilities
Long-term debt 3144000 3055000 3386000
Capital leases 1261000 1366000 1405000
Deferred taxes liabilities 353000
Other long-term liabilities 1831000 2001000 1827000
Total non-current liabilities 6589000 6422000 6618000
Total liabilities 13684000 13450000 14088000
Stockholders' equity
Common stock 3053000 3575000 4623000
Retained earnings 472000 -100000 -1115000
Accumulated other comprehensive income 12000 -220000 -66000
Total stockholders' equity 3537000 3255000 3442000
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Total liabilities and stockholders' equity 17221000 16705000 17530000
QANTAS AIRWAYS LTD (QAN) Statement of CASH FLOW
Fiscal year ends in June. AUD in
thousands except per share data. 2017-06 2016-06 2015-06
Cash Flows From Operating Activities
Other non-cash items 2704000 2819000 2048000
Net cash provided by operating
activities 2704000 2819000 2048000
Cash Flows From Investing Activities
Investments in property, plant, and
equipment
-
1368000
-
1618000
-
1359000
Property, plant, and equipment
reductions 34000 509000 194000
Acquisitions, net 21000
Purchases of investments -16000 -39000 -49000
Sales/Maturities of investments 27000 266000
Sales of intangibles
Other investing activities -696000 -802000 -17000
Net cash used for investing activities
-
2046000
-
1923000 -944000
Cash Flows From Financing Activities
Debt issued 419000 -807000 796000
Debt repayment -453000
-
2276000
Repurchases of treasury stock -564000
-
1080000 -1000
Cash dividends paid -264000 -4000
Other financing activities 8000 62000 267000
Net cash provided by (used for)
financing activities -854000
-
1825000
-
1218000
Effect of exchange rate changes -9000 1000 21000
Net change in cash -205000 -928000 -93000
Cash at beginning of period 1980000 2908000 3001000
Cash at end of period 1775000 1980000 2908000
Free Cash Flow
Operating cash flow 2704000 2819000 2048000
Capital expenditure
-
1368000
-
1618000
-
1359000
Free cash flow 1336000 1201000 689000
Supplemental schedule of cash flow
data
Cash paid for income taxes -4000 -2000 -2000
Cash paid for interest -164000 -227000 -281000
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