Corporate Travel Management (ASX:CTD): What Does Broker Sentiment Suggest After Its Results Release?

Sonal Goyal

09 October 2026 12:59 PM AEDT

Corporate Travel Management (ASX:CTD): What Does Broker Sentiment Suggest After Its Results Release?

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Highlights

Consensus rating of Hold from 7 analysts: 1 Buy or equivalent, 5 Hold, 1 Sell or equivalent.
Mean price target of A$3.88 against a share price of A$2.28 on 8 October 2026, an implied upside of 70.4%.
Analyst targets range from A$2.35 to A$7.60.
FY25 underlying EBITDA was $83.6 million, compared with a restated $116.4 million in FY24, and FY26 forecast underlying EBITDA is $113.6 million.

Corporate Travel Management (ASX:CTD) carries a consensus analyst rating of Hold. Of the 7 analyst recommendations recorded, 1 is Buy or equivalent, 5 are Hold and 1 is Sell or equivalent. The mean price target is A$3.88, with targets ranging from A$2.35 to A$7.60, against a current share price of A$2.28 (8 October 2026). Corporate Travel Management Limited is a global corporate travel management company.

Company name	Corporate Travel Management
Ticker	(ASX:CTD)
Exchange	ASX (Australian Securities Exchange)
Current share price	A$2.28
Price date	8 October 2026
Number of analysts	7
Rating consensus	Hold
Consensus price target (mean)	A$3.88
Highest target	A$7.60
Lowest target	A$2.35
Implied upside/downside to mean target	Implied upside of 70.4%

Latest developments

Corporate Travel Management (ASX:CTD) released its FY25 results and FY26 forecast on 27 August 2026, following an extensive review of historical contractual, accounting and governance matters across the group. FY25 underlying EBITDA was $83.6 million, compared with a restated $116.4 million in FY24, and FY26 forecast underlying EBITDA is $113.6 million. Total transaction value was $9.6 billion in FY25, up from $9.1 billion, and is forecast to reach $9.8 billion in FY26. Revenue was $643.4 million in FY25 and is forecast at $669.9 million in FY26.

The company recorded Goodwill impairments of $357.7 million, resulting in a net loss after tax of $346.7 million. A refund program of approximately $191 million, about 78%, has been agreed or is close to finalisation, with a further $55 million to be remediated. Cash was approximately $107 million at 30 June 2026 and a $175 million committed funding package is in place to meet remediation payments and ongoing funding. The company launched its CTM One strategy and implemented governance, Leadership and control enhancements.

Trading during the first month of FY27 was in line with management expectations, and dividends remain suspended while customer remediation obligations are addressed.

Sector context

The release follows a review of historical contractual, accounting and governance matters and describes resilient customer activity. Corporate travel management Earnings depend on travel volumes, contract terms with customers and supplier arrangements.

Risks and what to watch

The company reported a net loss after tax of $346.7 million for FY25, restated earnings and goodwill impairments of $357.7 million. Customer refunds and remediation of about $246 million in total are still being completed, and dividends are suspended. The FY26 figures are a forecast, not a result. The consensus data shows a Hold rating.

Next milestones

Items to watch include completion of the customer refund program, delivery of the FY26 forecast of $113.6 million underlying EBITDA, the FY26 results, any resumption of dividends, and the effect of the governance changes.

FAQs

Q: What is the consensus analyst rating for Corporate Travel Management (ASX:CTD)?

A:The consensus rating is Hold, based on 7 analyst recommendations: 1 Buy or equivalent, 5 Hold and 1 Sell or equivalent.

Q: What are the analyst price targets for Corporate Travel Management (ASX:CTD)?

A:The mean price target is A$3.88, with a highest target of A$7.60 and a lowest target of A$2.35. The share price on 8 October 2026 was A$2.28.

Q: What did Corporate Travel Management (ASX:CTD) report on 27 August 2026?

A:CTM reported FY25 underlying EBITDA of $83.6 million, a net loss after tax of $346.7 million after goodwill impairments, and an FY26 forecast of $113.6 million underlying EBITDA, with dividends suspended.

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