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I’m watching the FLT share price in 2024

The Flight Centre Travel Group Ltd (ASX:FLT) share price is down around 19.5% since the start of 2024. It's probably worth asking, 'is the FLT share price priced to perfection?'
The Flight Centre Travel Group Ltd (ASX:FLT) share price is down around 19.5% since the start of 2024. The Pilbara Minerals Ltd (ASX:PLS) share price is 1.9% above its 52-week low.

FLT share price in focus

Flight Centre is an Australian staple in the travel industry, but you may not know that it operates under multiple names across over 80 countries!

Flight Centre isn’t just limited to booking flights either. They offer services in both the retail and corporate sectors and across sub-sectors including tour operations, travel experiences and hotel management.

Unlike many of the online travel agencies, Flight Centre still has brick-and-mortar locations where customers can come in and have face-to-face consultations. This extra service, as well as the exclusive deals Flight Centre can get access to because of its reach, are what keep customers coming back.

PLS shares

Pilbara Minerals is a leading ASX-listed lithium company, known for owning 100% of the world’s largest independent hard-rock lithium operation, Pilgangoora, which it acquired in 2014.

The company’s main business is the extraction and sale of spodumene concentrate (lithium-bearing rocks), which it sells through long-term offtake agreements and spot sales on the Battery Material Exchange (BMX) platform. Notable offtake partners include companies like Great Wall, the Chinese automaker, and POSCO, a South Korean steel producer.

With the growing demand for lithium driven by the rise of electric vehicles and renewable energy technologies, Pilbara Minerals is often seen by bullish investors as a “pure play” on the green tech boom. However, as a commodities producer, the company’s revenue is still subject to significant fluctuations in the global price of spodumene.

FLT share price valuation

As a growth company, one way to put a broad estimate on the FLT share price could be to compare its price-to-sales multiple over time. This can tell us how the company has historically been valued relative to its total revenue.

Currently, Flight Centre Travel Group Ltd shares have a price-sales ratio of 1.35x, compared to its 5-year average of 3.42x, meaning its shares are trading lower than their historical average. This could mean that the share price has fallen, or sales have increased, or both. In the case of FLT, revenue has been growing over the last 3 years. Of course, context is important – and this is just one valuation technique. Investment decisions can’t just be based on one metric, but this can be a rough starting point.

The PLS share price currently trades at a price-sales ratio of 5.26x, which compares to its 5-year long-term average of 20.35x. So, PLS shares are trading lower than their historical average. Don’t forget, a simple multiple like this should only be the start of your research. The Rask websites offer free online investing courses, created by analysts explaining things like Discounted Cash Flow (DCF) and Dividend Discount Models (DDM). They even include free valuation spreadsheets! It’s a good idea to use multiple valuation methods to value a share like Pilbara Minerals Ltd.

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