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| Company | Headquarters | Sector | Stock Price | Enterprise Value | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Union Pacific | United States of America | Railways | $236 | $172B | 7.0x | 13.7x |
| CSX | United States of America | Railways | $37 | $88.7B | 6.2x | 13.5x |
| Canadian Pacific Kansas City | Canada | Railways | CAD 104 | $84.4B | 7.7x | 15.0x |
| Norfolk Southern | United States of America | Railways | $294 | $81.6B | 6.7x | 14.4x |
| Cummins | United States of America | Machinery, Industrial Parts, Railways | $523 | $77.3B | 2.3x | 13.6x |
| Canadian National Railway | Canada | Railways | CAD 135 | $75.4B | 6.0x | 12.2x |
| Indian Railway Finance Corporation | India | Railways | INR 114 | $59.7B | 80.6x | N/A |
| East Japan Railway | Japan | Railways | JPY 4006 | $59.0B | 3.1x | 11.2x |
| Central Japan Railway | Japan | Railways | JPY 4430 | $52.6B | 4.2x | 8.5x |
| Wabtec | United States of America | Railways | $214 | $41.4B | 3.8x | 16.8x |
| Beijing-Shanghai High Speed Railway | China | Railways | CNY 5 | $41.0B | 6.8x | 11.7x |
| MTR Corp. | Hong Kong | Railways | HKD 31 | $29.2B | 3.8x | 9.6x |
| CRRC Corp. | China | Railways, Rail Infrastructure, Machinery | CNY 7 | $23.3B | 0.6x | 6.2x |
| Knorr-Bremse | Germany | Automotive Parts, Railways, Industrial Parts, Electronic Components, Sensors & Instruments | €93 | $19.4B | 2.1x | 12.6x |
| JR West | Japan | Railways | JPY 3060 | $17.6B | 1.5x | 7.3x |
| Alstom | France | Railways, Rail Infrastructure, Machinery | €24 | $15.5B | 0.7x | 8.0x |
| Tokyu | Japan | Railways | JPY 1786 | $14.7B | 2.1x | 11.8x |
| Hyundai Rotem | South Korea | Railways | KRW 186400 | $13.2B | 3.3x | 17.7x |
| Tokyo Metro | Japan | Railways | JPY 1582 | $12.5B | 4.7x | 12.0x |
| Taiwan High Speed Rail | Taiwan | Railways | TWD 28 | $11.8B | N/A | N/A |
| GMexico Transportes | Mexico | Railways | MXN 33 | $9.9B | 2.7x | 6.3x |
| Rumo | Brazil | Railways | BRL 16 | $9.5B | 3.7x | 6.6x |
| Daqin Railway | China | Railways | CNY 5 | $8.8B | 0.8x | 4.2x |
| Times Electric | Hong Kong | Railways | HKD 49 | $8.7B | 2.2x | 10.8x |
| Trinity Indus | United States of America | Railways | $28 | $8.1B | 3.8x | 10.6x |
| Tobu Railway | Japan | Railways | JPY 2560 | $8.1B | 1.9x | 10.0x |
| Aurizon Holdings | Australia | Railways | AUD 4 | $7.8B | 3.0x | 7.1x |
| Odakyu Electric Railway | Japan | Railways | JPY 1692 | $7.5B | 2.7x | 11.9x |
| Kyushu Railway | Japan | Railways | JPY 4002 | $6.5B | 2.1x | 9.3x |
| China Railway Signal | Hong Kong | Railways | HKD 6 | $6.0B | 1.2x | 7.5x |
| Keisei Electric Railway | Japan | Railways | JPY 1239 | $5.9B | 2.8x | 13.3x |
| Bangkok Expressway | Thailand | Railways | THB 5 | $5.7B | 10.5x | 19.6x |
| Indian Railway Catering and Tourism | India | Railways | INR 674 | $5.6B | 10.3x | 30.1x |
| Nankai Electric Railway | Japan | Railways | JPY 2859 | $4.7B | 2.7x | N/A |
| Container Corporation of India | India | Railways | INR 506 | $3.9B | 3.8x | 17.4x |
| Inner Mongolia First Machinery Group | China | Industrial Parts, Railways | CNY 16 | $3.6B | 2.3x | 24.5x |
| MRS Logistica | Brazil | Railways | BRL 36 | $3.4B | N/A | N/A |
| Nishi-Nippon Railroad | Japan | Railways | JPY 2766 | $3.3B | 1.1x | 10.3x |
| ComfortDelGro | Singapore | Railways | SGD 1 | $3.0B | 0.8x | 5.0x |
| Greenbrier Companies | United States of America | Railways | $47 | $3.0B | 1.0x | 6.4x |
| Guangshen Railway | China | Railways | CNY 3 | $2.6B | 0.7x | 5.9x |
| CAF | Spain | Railways | €55 | $2.6B | 0.5x | 6.1x |
| FirstGroup | United Kingdom of Great Britain and Northern Ireland | Railways | £2 | $2.5B | 0.4x | 2.5x |
| Triangle Defense Co. | China | Defense Systems, Railways, Aircraft & Space Systems | CNY 31 | $2.2B | 7.7x | 23.0x |
| Stadler Rail | Switzerland | Railways | CHF 20 | $2.0B | 0.4x | 5.4x |
| Jungfraubahn Holding | Switzerland | Travel Services, Railways | CHF 272 | $1.9B | 5.1x | 11.1x |
| Vossloh | Germany | Railways | €76 | $1.6B | 1.0x | 7.6x |
| Newag | Poland | Railways, Machinery, Rail Infrastructure | PLN 99 | $1.2B | N/A | N/A |
| Titagarh Rail Systems | India | Railways | INR 779 | $1.2B | 2.8x | 25.3x |
| Talgo | Spain | Railways | €3 | $944M | 1.3x | 155.6x |
| Fnm | Italy | Railways | €0 | $832M | 1.1x | 3.0x |
| BVZ Holding | Switzerland | Railways | CHF 1210 | $690M | N/A | N/A |
| SAPTCO | Saudi Arabia | Road Transportation, Railways | SAR 10 | $595M | N/A | N/A |
| Uestra Hannoversche | Germany | Railways | €9 | $326M | N/A | N/A |
| NRC Group | Norway | Railways | NOK 9 | $242M | 0.4x | 7.3x |
| Nurminen Logistics | Finland | Railways | €1 | $85.7M | 0.7x | 2.9x |
| SBF | Germany | Railways | €5 | $63.1M | 1.3x | 31.1x |
| SMT Scharf | Germany | Railways | €6 | $18.8M | 0.2x | 3.7x |
| Signaux Girod | France | Railways | €15 | $17.0M | N/A | N/A |
| Railway Metrics and | Sweden | Railways | SEK 1 | $6.4M | N/A | N/A |
Valuation multiples as of last 12 months (LTM). Stock prices as of December 13, 2025. Financial data powered by Morningstar and FactSet.
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