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| Company | Headquarters | Sector | Stock Price | Enterprise Value | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Union Pacific | United States of America | Railways | $232 | $170B | 6.9x | 13.5x |
| CSX | United States of America | Railways | $35 | $84.9B | 6.0x | 12.9x |
| Canadian Pacific Kansas City | Canada | Railways | CAD 101 | $81.7B | 7.6x | 14.8x |
| Norfolk Southern | United States of America | Railways | $292 | $81.2B | 6.6x | 14.3x |
| Canadian National Railway | Canada | Railways | CAD 134 | $73.9B | 6.0x | 12.2x |
| Cummins | United States of America | Machinery, Industrial Parts, Railways | $498 | $73.8B | 2.2x | 12.9x |
| Indian Railway Finance Corporation | India | Railways | INR 118 | $60.6B | 81.4x | N/A |
| East Japan Railway | Japan | Railways | JPY 4046 | $59.0B | 3.1x | 11.3x |
| Central Japan Railway | Japan | Railways | JPY 4268 | $51.4B | 4.2x | 8.4x |
| Beijing-Shanghai High Speed Railway | China | Railways | CNY 5 | $40.5B | 6.7x | 11.5x |
| Wabtec | United States of America | Railways | $209 | $40.4B | 3.7x | 16.5x |
| MTR Corp. | Hong Kong | Railways | HKD 31 | $29.2B | 3.9x | 7.8x |
| CRRC Corp. | China | Railways, Rail Infrastructure, Machinery | CNY 7 | $23.8B | 0.6x | 6.4x |
| Knorr-Bremse | Germany | Automotive Parts, Railways, Industrial Parts, Electronic Components, Sensors & Instruments | €91 | $19.0B | 2.1x | 12.3x |
| JR West | Japan | Railways | JPY 3108 | $17.6B | 1.5x | 7.4x |
| Tokyu | Japan | Railways | JPY 1823 | $14.7B | 2.2x | 12.0x |
| Alstom | France | Railways, Rail Infrastructure, Machinery | €23 | $14.6B | 0.7x | 7.6x |
| Tokyo Metro | Japan | Railways | JPY 1606 | $12.5B | 4.7x | 12.1x |
| Hyundai Rotem | South Korea | Railways | KRW 175700 | $12.5B | 3.1x | 16.9x |
| Taiwan High Speed Rail | Taiwan | Railways | TWD 28 | $11.8B | N/A | N/A |
| GMexico Transportes | Mexico | Railways | MXN 34 | $10.2B | 2.9x | 6.6x |
| Rumo | Brazil | Railways | BRL 17 | $10.1B | 3.9x | 6.8x |
| Daqin Railway | China | Railways | CNY 5 | $8.9B | 0.8x | 4.2x |
| Times Electric | Hong Kong | Railways | HKD 49 | $8.7B | 2.2x | 11.1x |
| Tobu Railway | Japan | Railways | JPY 2626 | $8.1B | 2.0x | 9.9x |
| Trinity Indus | United States of America | Railways | $27 | $8.0B | 3.7x | 10.4x |
| Aurizon Holdings | Australia | Railways | AUD 4 | $7.6B | 2.9x | 7.2x |
| Odakyu Electric Railway | Japan | Railways | JPY 1769 | $7.6B | 2.8x | 12.2x |
| Kyushu Railway | Japan | Railways | JPY 4019 | $6.5B | 2.1x | 9.4x |
| Keisei Electric Railway | Japan | Railways | JPY 1267 | $6.0B | 2.8x | 13.6x |
| Indian Railway Catering and Tourism | India | Railways | INR 686 | $5.8B | 10.4x | 30.5x |
| Bangkok Expressway | Thailand | Railways | THB 6 | $5.7B | 10.7x | 20.0x |
| China Railway Signal | Hong Kong | Railways | HKD 5 | $5.7B | 1.2x | 7.9x |
| Nankai Electric Railway | Japan | Railways | JPY 2942 | $4.7B | 2.7x | N/A |
| Container Corporation of India | India | Railways | INR 511 | $4.0B | 3.8x | 17.6x |
| Inner Mongolia First Machinery Group | China | Industrial Parts, Railways | CNY 17 | $3.8B | 2.5x | 25.9x |
| Nishi-Nippon Railroad | Japan | Railways | JPY 2728 | $3.3B | 1.1x | 10.6x |
| MRS Logistica | Brazil | Railways | BRL 34 | $3.3B | N/A | N/A |
| ComfortDelGro | Singapore | Railways | SGD 1 | $3.0B | 0.8x | 5.0x |
| Greenbrier Companies | United States of America | Railways | $44 | $2.9B | 0.9x | 6.1x |
| Guangshen Railway | China | Railways | CNY 3 | $2.6B | 0.7x | 5.6x |
| CAF | Spain | Railways | €54 | $2.5B | 0.5x | 6.1x |
| FirstGroup | United Kingdom of Great Britain and Northern Ireland | Railways | £2 | $2.4B | 0.4x | 2.4x |
| Stadler Rail | Switzerland | Railways | CHF 20 | $2.0B | 0.5x | 5.6x |
| Triangle Defense Co. | China | Defense Systems, Railways, Aircraft & Space Systems | CNY 29 | $2.0B | 7.1x | 21.4x |
| Jungfraubahn Holding | Switzerland | Travel Services, Railways | CHF 260 | $1.8B | 4.8x | 10.6x |
| Vossloh | Germany | Railways | €69 | $1.4B | 0.9x | 6.9x |
| Titagarh Rail Systems | India | Railways | INR 827 | $1.3B | 2.9x | 26.7x |
| Newag | Poland | Railways, Machinery, Rail Infrastructure | PLN 100 | $1.2B | N/A | N/A |
| Talgo | Spain | Railways | €3 | $942M | 1.3x | 16.1x |
| Fnm | Italy | Railways | €0 | $833M | 1.1x | 3.1x |
| BVZ Holding | Switzerland | Railways | CHF 1080 | $659M | N/A | N/A |
| SAPTCO | Saudi Arabia | Road Transportation, Railways | SAR 10 | $605M | N/A | N/A |
| Uestra Hannoversche | Germany | Railways | €9 | $328M | N/A | N/A |
| NRC Group | Norway | Railways | NOK 8 | $224M | 0.3x | 6.9x |
| Nurminen Logistics | Finland | Railways | €1 | $88.9M | 0.7x | 3.1x |
| SBF | Germany | Railways | €6 | $66.9M | 1.4x | 33.0x |
| SMT Scharf | Germany | Railways | €6 | $19.1M | 0.2x | 3.6x |
| Signaux Girod | France | Railways | €15 | $16.1M | N/A | N/A |
| Railway Metrics and | Sweden | Railways | SEK 1 | $6.6M | N/A | N/A |
Valuation multiples as of last 12 months (LTM). Stock prices as of November 30, 2025. Financial data powered by Morningstar and FactSet.
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