If you are searching for the webjet share price today, you might find yourself slightly confused by what appears on your brokerage screen. Depending on your trading platform, you are likely seeing two completely different listings with highly divergent valuations: Web Travel Group Limited (ASX: WEB) and Webjet Group Limited (ASX: WJL).

This division is the result of a landmark corporate demerger executed in September 2024, which split the historical Australian travel giant into two distinct, publicly traded entities. Fast forward to May 2026, and both companies have just released their highly anticipated full-year financial results for the 12 months ending March 31, 2026 (FY26). These reports have triggered massive, contrasting movements in both share prices.

While the business-to-business (B2B) focused WEB Travel Group (ASX: WEB) surged over 7% following the release of its stellar results, the consumer-facing Webjet Group (ASX: WJL) plunged over 15% to ~$0.43 AUD after detailing a surprise revenue hit from Virgin Australia and softer domestic trading conditions. Understanding the difference between these two entities, their recent earnings, and their future prospects is essential for any investor tracking the webjet share price. This comprehensive, expert-led analysis breaks down the financials, strategic headwinds, and growth outlooks for both ASX travel stocks.

The Great Demerger: Why Webjet Split Into ASX:WEB and ASX:WJL

To make sense of the modern webjet share price, we must first look back at the corporate restructure that reshaped the company. Founded in 1998, Webjet began as a pioneer online travel agency (OTA) in Australia and New Zealand. Over the decades, it grew from a simple consumer platform into a multi-faceted travel empire. Its most significant expansion was the launch and rapid scale of WebBeds, a global B2B wholesale hotel booking platform.

By 2024, a major structural issue arose. The high-growth, global B2B WebBeds division was being held back by what institutional investors call a "conglomerate discount." The market struggled to value the business fairly because it was housed under the same corporate umbrella as the mature, highly profitable, but slower-growing consumer OTA. B2B bedbanks typically command premium growth multiples, whereas consumer digital travel brands are valued on cash flow and dividend yields.

To unlock shareholder value, Webjet's board approved a demerger in September 2024. Under this scheme of arrangement, Webjet Limited spun off its B2C consumer division into a brand-new listed entity. Shareholders received one share of Webjet Group Limited (ASX: WJL) for every share they held in Webjet Limited, which was subsequently renamed WEB Travel Group Limited (ASX: WEB).

Today, the two companies operate with completely independent management teams, balance sheets, and corporate strategies:

• WEB Travel Group (ASX: WEB): This is the global B2B powerhouse. It comprises WebBeds, which operates as a digital marketplace connecting hotel accommodation providers with wholesale travel buyers (retail travel agents, tour operators, and corporate travel managers) worldwide. It is currently the second-largest B2B accommodation provider globally.
• Webjet Group Limited (ASX: WJL): This is the consumer-facing B2C digital travel business. It includes the flagship Webjet OTA (the leading online travel agency in Australia and New Zealand), Airport Rentals and Motorhome Republic (global digital vehicle rental specialists), and Trip Ninja (a travel technology firm optimizing multi-city flight itineraries).

Because of this split, anyone searching for the historical "Webjet share price" must evaluate both companies independently. Let's dive deep into the newly released FY26 financial results for each stock to see where the value lies.

Webjet Group Limited (ASX:WJL) Share Price: FY26 Earnings and the Virgin Australia Headwind

Following its market debut in late 2024, Webjet Group (ASX: WJL) traded as high as $0.995 as investors cheered its transition into a standalone consumer play. However, May 2026 brought a sharp reality check. On May 20, 2026, the company released its FY26 financial results, sending the WJL share price crashing by more than 15% to around $0.43 AUD, hovering near its historical 52-week low.

Financial Overview: Revenue Stability Amid Margin Compression

For the 12 months ending March 31, 2026, Webjet Group reported stable revenue of $136.4 million, representing a modest 1% increase compared to FY25. Statutory Net Profit After Tax (NPAT) surged by 85% to $3.7 million, largely because the prior year's figures were heavily weighed down by one-off demerger and establishment costs.

However, underlying Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) dropped by 19.7% to $28.1 million, down from a restated $35.0 million in FY25. While this $28.1 million figure landed at the top end of the company's previously downgraded guidance range of $28 million to $29 million, it confirmed to the market that WJL is operating on a significantly lower earnings base.

The margin compression was particularly evident in the core Webjet OTA business, where EBITDA margins fell from 40.9% to 33.6%. Management attributed this decline to a softer domestic travel market, inflationary pressures hitting household discretionary budgets, and a deliberate $4.5 million investment in a comprehensive brand relaunch to reposition the OTA for international flight expansion.

The Virgin Australia Contract Shock

The primary driver behind the aggressive sell-off in WJL shares was not the backward-looking FY26 earnings print, but rather a major update regarding its commercial partnership with Virgin Australia Airlines. Webjet Group revealed that Virgin Australia has notified the company of its intention to substantially reduce commission streams and associated commercial arrangements beginning July 1, 2026.

These commission streams, paid to Webjet's marketing subsidiary, relate to the sale of Virgin flights and ancillaries under specific performance targets. To put the impact into perspective, WJL stated that if this commission reduction had been in place from the start of FY26, it would have wiped approximately $3 million directly off the company's revenue and bottom line. While a $3 million hit seems small in isolation, it represents a direct, high-margin blow to WJL's earnings power just as the company enters a challenging FY27.

Early FY27 Trading Update: Demand Remains Soft

Compounding the Virgin Australia bad news, Webjet's forward-looking trading update for early FY27 indicated that consumer demand is failing to bounce back. Core OTA bookings are currently down 12% compared to the prior corresponding period, with Total Transaction Value (TTV) sliding 15%. Softer leisure travel demand, higher average airfares, and weak domestic consumer confidence in Australia are actively squeezing the company's transactional volume.

Bright Spots: Vehicle Rentals Turnaround and Fortress Balance Sheet

Despite the headwinds in flights, WJL's auxiliary divisions showed impressive resilience. The Cars & Motorhomes division (consisting of Airport Rentals and Motorhome Republic) completed a major turnaround, delivering EBITDA of $4.3 million—a massive 169% increase over the $1.6 million recorded in FY25. Additionally, WJL's acquisition of corporate travel technology firm Locomote is starting to gain traction, paving the way for the company's expansion into high-margin corporate digital booking.

Furthermore, Webjet Group's capital position remains incredibly robust. The company finished FY26 with:

• Zero debt and a clean balance sheet.
• $93.9 million in net cash, providing significant liquidity to weather the current consumer downturn.
• An active, on-market share buy-back program to support the share price.
• A total declared FY26 dividend of 4.0 cents per share (cps), paid fully franked. This dividend payout actually exceeded 100% of underlying NPAT, as the board chose to maximize the distribution of available franking credits to retail shareholders. At a share price of $0.43, this represents an extraordinary trailing dividend yield of over 9.3%, offering a highly attractive cushion for income-focused investors.

Web Travel Group (ASX:WEB) Share Price: Global Growth Powerhouse Surges Post-Earnings

While the B2C Webjet Group struggled with domestic headwinds, its demerged sister company, Web Travel Group (ASX: WEB), painted a completely different picture. On May 27, 2026, WEB announced its FY26 financial results, which exceeded expectations and sent the stock climbing 7% to around $2.43 AUD.

Financial Overview: Spectacular Global Scale

WEB Travel Group delivered a masterclass in B2B scaling for the 12 months ending March 31, 2026:

• Total Transaction Value (TTV): Increased 20% to $5.8 billion, delivering an incremental $1 billion in transaction volume compared to FY25.
• Revenue: Rose 20% to $394.1 million, moving in lockstep with transaction volume growth.
• WebBeds EBITDA: Jumped 24% to $172.7 million, with EBITDA margins expanding to an impressive 43.8% (up from 42.3% in FY25).
• Underlying Group EBITDA: Climbed 23% to $148.4 million (reflecting a corporate overhead of $24.3 million).
• Underlying NPAT: Increased 8% to $85.9 million.
• Underlying Earnings Per Share (EPS): Grew 16% to 23.8 cents.

The Growth Drivers: Americas and Europe Stand Out

WEB's B2B model, operating under the WebBeds brand, functions by bulk-buying room inventory from hotels and selling it to travel buyers via a highly efficient digital marketplace. Because it is globally diversified, it is not reliant on the Australian consumer.

In FY26, the standout growth regions were the Americas and Europe. Americas bookings surged by a massive 41% on FY25, while European bookings rose by 19%. This geographic diversification allowed WEB to comfortably offset flatter performance in the Asia-Pacific (APAC) region. Furthermore, WEB expanded its TTV margins to 6.8% (up from 6.7% in FY25), demonstrating pricing power and strong inventory sourcing.

Operating leverage was a massive theme of this result. Expenses rose by only 17% compared to the 20% growth in revenue, showcasing how highly scalable the WebBeds digital architecture is. Additionally, management highlighted that advanced artificial intelligence (AI) pricing algorithms had been integrated into the platform, contributing to over 50% of the conversion rate gains achieved throughout the year.

Geopolitical Headwinds and Capital Allocation

Despite the glowing headline numbers, WEB was not entirely immune to challenges. Geopolitical tensions in the Middle East significantly souring end-of-year trading in both APAC and the Middle East, leading to elevated cancellation rates and a shift toward shorter-duration hotel bookings. Because of these ongoing tensions, management expressed some caution regarding its ability to hit its previously stated 50% EBITDA margin target by FY27.

In terms of capital management, WEB generated an exceptional $132.4 million in cash from operations, representing a 107% cash conversion rate. Post-period, the company utilized its financial strength to fully redeem $250 million in outstanding convertible notes, leaving the group with approximately $500 million in pro forma liquidity ($398.1 million in cash and a $100 million undrawn revolving credit facility).

Unlike WJL, WEB did not declare a dividend for FY26. The board has opted to preserve its massive capital reserve to fund aggressive strategic acquisitions (M&A) and technology reinvestment, positioning the company as a pure global growth play.

Side-by-Side Comparison: ASX:WJL vs. ASX:WEB

For retail investors analyzing the webjet share price, choosing between these two stocks comes down to your personal investment strategy. Are you looking for high-yield income, or are you seeking global growth at a reasonable valuation?

The table below outlines the core differences between the two entities as of late May 2026:

The Case for Webjet Group (ASX: WJL)

Webjet Group is a classic "value and income" play. While its share price has been absolutely battered by the market's reaction to the Virgin Australia contract and weak travel bookings, the stock is heavily backed by tangible assets and cash. With a net cash position of $93.9 million—representing over 50% of its current $178 million market capitalization—the business is fundamentally secure from insolvency.

Its massive 9.3% trailing dividend yield, combined with an active share buy-back program, provides a powerful yield stream for patient, contrarian investors who believe domestic travel will eventually recover and that the Cars & Motorhomes division will continue to offset OTA softness.

The Case for Web Travel Group (ASX: WEB)

Web Travel Group is an institutional-grade "global growth" play. Historically, when WebBeds was combined with the domestic OTA, investors struggled to value its incredible international trajectory. Trading at a highly attractive valuation of just ~10.2x its FY26 underlying EPS of 23.8 cents, WEB offers exposure to a highly scalable B2B travel market where it still only holds a 4% global market share.

With $500 million in liquidity, no debt, and a proven track record of growing bookings by 41% in competitive markets like the Americas, WEB represents an incredibly cheap growth stock for investors who are willing to overlook short-term geopolitical volatility in the Middle East.

Key Factors Driving the Webjet Share Price in 2026 and Beyond

If you are planning to trade or hold either of these travel stocks, keep a close eye on these five critical stock-price catalysts over the next 12 to 18 months:

1. Consumer Discretionary Spending in Australia: WJL's recovery is entirely dependent on Australian households regaining financial breathing room. If interest rates begin to fall later in 2026, we could see a sudden surge in domestic flight and car rental bookings, driving a rapid re-rating of WJL's share price.
2. Airlines vs. Agents Commission Battles: Virgin Australia's decision to slash commissions is a shot across the bow for the entire travel agency sector. Investors must watch if other domestic airlines, such as Qantas or Jetstar, follow suit. If they do, B2C travel agencies will have to aggressively pivot toward flight add-ons, travel insurance, and hotel packages to preserve margins.
3. M&A and Strategic Deployments: Both WEB and WJL are sitting on highly defensive cash piles. For WJL, utilizing its cash to expand its corporate division via Locomote will be key. For WEB, with $500 million in liquidity, the board is actively hunting for strategic B2B acquisitions in Asia or the US. An accretive acquisition could be a major share price catalyst for either stock.
4. AI Implementation and Operational Leverage: WEB has already proven that AI can drive conversion rates and margin expansion. If the company can successfully deploy advanced booking automation across its global WebBeds network, EBITDA margins could blow past the current 43.8% mark, driving further earnings-per-share growth.
5. Geopolitical Stability in Europe and the Middle East: As a global wholesaler, WEB's booking patterns are sensitive to regional safety. A reduction in Middle Eastern tensions or stabilization of European travel corridors would immediately remove a major risk premium from WEB shares, allowing the stock to trade closer to historical multiples.

Frequently Asked Questions About the Webjet Share Price

Why is the Webjet share price so low compared to 2023?

If you are comparing historical charts, you will notice the Webjet share price used to trade above $7.00. The current lower prices ($2.43 for WEB and $0.43 for WJL) are due to the September 2024 corporate demerger. The company split into two separate entities, meaning the value of the original single share was divided across the two new listings. Original shareholders received one share of WJL for every share of WEB they owned.

What are the correct ASX ticker symbols for Webjet?

Following the demerger, there are two listings on the Australian Securities Exchange:

• ASX: WJL represents Webjet Group Limited (housing the B2C OTA, car rentals, and Trip Ninja).
• ASX: WEB represents Web Travel Group Limited (housing the global B2B WebBeds wholesale business).

Does Webjet pay a dividend in 2026?

Yes, but only through Webjet Group Limited (ASX: WJL). WJL declared a total fully franked dividend of 4.0 cents per share for FY26. Web Travel Group Limited (ASX: WEB) did not declare a dividend for FY26, as the board chose to preserve its capital for strategic growth and M&A opportunities.

Why did the WJL share price drop 15% in May 2026?

WJL's share price plummeted after the company announced its FY26 earnings on May 20, 2026. While the results themselves were stable, the market reacted defensively to news that Virgin Australia would sharply reduce its commission streams starting July 1, 2026. Additionally, WJL's forward-looking trading update revealed that early FY27 OTA bookings were down 12% due to softer domestic travel demand.

Is Web Travel Group (ASX: WEB) a buy after its FY26 results?

Following its results on May 27, 2026, many market analysts view WEB as highly undervalued. The company grew its TTV by 20% to $5.8 billion and is currently trading at roughly 10.2x its underlying EPS of 23.8 cents. While geopolitical tensions in the Middle East remain a headwind, the stock's massive liquidity ($500 million) and strong organic growth in the US and Europe make it a compelling growth play.

Conclusion: Navigating the New Era of Webjet Investing

The historical era of tracking a single "webjet share price" is officially over. Today's investors must adapt to the post-demerger landscape of the ASX travel sector. Whether you choose to invest in the B2C cash-generative value play of Webjet Group (ASX: WJL) with its market-leading 9.3% dividend yield, or the high-growth global wholesale engine of Web Travel Group (ASX: WEB) trading at a dirt-cheap 10x earnings, both stocks offer unique, distinct paths to building portfolio value. By keeping a close eye on domestic inflation, global booking trends, and airline partnership updates, you can make highly informed, profitable decisions in this dynamic travel market.