Virgin Australia Holdings Ltd VGN

Stock XASX Rating as of Oct 28, 2026

A$2.44 +0.05 (2.09%)

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As of Oct 28, 2026, 5:10:13 AM Delayed Price Closed

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Virgin Australia's Fuel Cost Burden to Rise as Refining Hedge Decreases

Angus Hewitt, Leo Wang Aug 28, 2026

Virgin's new market position is a clear improvement, materially reducing complexity, lowering capital intensity, and improving margins. It has repositioned toward a midmarket value proposition, placing fares between Qantas' full-service offering and its budget subsidiary Jetstar. At this price point, Virgin is targeting premium leisure travelers, small to medium-sized businesses, and value-conscious corporates. We expect it to maintain roughly one-third of Australia's domestic aviation market in a two-player market with Qantas.

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Price vs Fair Value

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VGN is trading at a LOCK|DB>vz# premium.

Price

A$2.44

Oct 28, 2026

Fair Value

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Aug 28, 2026

Uncertainty

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1-Star Price: LOCK|l!Y
5-Star Price: LOCK|>j
Economic Moat: LOCK|x#
Capital Allocation: LOCK|t$>pn#

Bulls Say, Bears Say

Bulls

Virgin's new market position is a clear improvement from its prepandemic, full-service strategy, materially reducing complexity, lowering capital intensity, and improving margins.

Bears

Virgin is exposed to cyclical factors outside management's control, including passenger demand, fuel prices, and exchange rates.

Trading Information

Previous Close Price: A$2.39
Day Range: A$2.39–2.50
52-Week Range: A$2.15–3.54
Bid/Ask: A$2.43 / A$2.48
Shares Outstanding: 784.23M
Market Cap: A$1.91B
Volume/Avg: 704,185 / 1M

Key Statistics

Price/Earnings (Normalized): 4.51
Price/Sales: 0.31
Dividend Yield (Trailing): 3.11%
Dividend Yield (Forward): 3.11%
Dividend Payment Schedule: Oct
Total Yield: 3.11%

Company Profile

Virgin Australia is Australia's second-largest airline, operating about a third of the domestic market in a two-player market with Qantas. Virgin is a value-focused carrier operating high-frequency, point-to-point domestic routes and select short-haul international flights. The airline targets leisure and small to medium enterprise travelers with midrange pricing. The vast majority of revenue is generated by the core airline segment.

Sector: Industrials
Industry: Airlines
Stock Style Box: Small Value
Total Number of Employees: 7,956
Website: https://www.virginaustralia.com

Competitors

Valuation

Metric	VGN	DAL	AIR
Price/Earnings (Normalized)	4.51	15.27	33.34
Price/Book Value	—	2.38	0.73
Price/Sales	0.31	0.75	0.18
Price/Cash Flow	1.58	6.69	1.51

Price/Earnings

VGN

DAL

AIR

Financial Strength

Metric	VGN	DAL	AIR
Quick Ratio	0.71	0.24	0.35
Current Ratio	0.76	0.40	0.47
Interest Coverage	3.32	8.30	−1.78

Quick Ratio

VGN

DAL

AIR

Profitability

Metric	VGN	DAL	AIR
Return on Assets (Normalized)	7.43%	4.13%	−2.69%
Return on Equity (Normalized)	—	16.54%	−13.31%
Return on Invested Capital (Normalized)	26.78%	9.53%	−3.77%

Return on Assets

VGN

DAL

AIR

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