Gradual divergence between the Qantas shareprice and the S&P ASX 200 since 2003 suggests that Qantas is not producing value compared to that basket of shares, yet the airline was still valued at $5.60 per share in May 2007 and 6.01 in October 2007.
The sharemarket is currently about 40% below its 2007 highs. If QF had merely performed as well as other public companies over that period, it would be today be worth about $3.00 per share, not $1.06.
Last edited by Sunfish; 7th Jun 2012 at 21:49.