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| Company | Headquarters | Sector | Stock Price | Enterprise Value | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Union Pacific | United States of America | Railways | $227 | $168B | 6.8x | 13.3x |
| CSX | United States of America | Railways | $36 | $86.6B | 6.1x | 13.0x |
| Canadian Pacific Kansas City | Canada | Railways | CAD 107 | $85.5B | 7.9x | 15.5x |
| Norfolk Southern | United States of America | Railways | $290 | $81.2B | 6.6x | 14.2x |
| Canadian National Railway | Canada | Railways | CAD 135 | $74.7B | 6.1x | 12.3x |
| Indian Railway Finance Corporation | India | Railways | INR 125 | $63.8B | 77.5x | N/A |
| Cummins | United States of America | Machinery, Industrial Parts, Railways | $417 | $63.0B | 1.9x | 11.0x |
| East Japan Railway | Japan | Railways | JPY 3607 | $56.1B | 2.9x | 10.6x |
| Central Japan Railway | Japan | Railways | JPY 4266 | $52.8B | 4.3x | 8.5x |
| Beijing-Shanghai High Speed Railway | China | Railways | CNY 5 | $40.0B | 6.6x | 11.4x |
| Wabtec | United States of America | Railways | $196 | $36.8B | 3.4x | 15.3x |
| MTR Corp. | Hong Kong | Railways | HKD 27 | $25.8B | 3.5x | 9.3x |
| CRRC Corp. | China | Railways, Rail Infrastructure, Machinery | CNY 7 | $24.1B | 0.6x | 6.6x |
| JR West | Japan | Railways | JPY 3133 | $18.2B | 1.6x | 7.6x |
| Knorr-Bremse | Germany | Automotive Parts, Railways, Industrial Parts, Electronic Components, Sensors & Instruments | €81 | $17.0B | 1.9x | 10.9x |
| Hyundai Rotem | South Korea | Railways | KRW 202000 | $14.7B | 3.8x | 21.6x |
| Tokyu | Japan | Railways | JPY 1715 | $14.6B | 2.1x | 11.6x |
| Alstom | France | Railways, Rail Infrastructure, Machinery | €22 | $13.4B | 0.6x | 6.9x |
| Tokyo Metro | Japan | Railways | JPY 1617 | $12.9B | 4.7x | 12.2x |
| Taiwan High Speed Rail | Taiwan | Railways | TWD 27 | $11.7B | N/A | N/A |
| GMexico Transportes | Mexico | Railways | MXN 36 | $10.5B | 3.0x | 6.9x |
| Daqin Railway | China | Railways | CNY 6 | $10.0B | 0.9x | 4.5x |
| Rumo | Brazil | Railways | BRL 15 | $9.2B | 3.6x | 6.5x |
| Times Electric | Hong Kong | Railways | HKD 54 | $8.9B | 2.3x | 11.7x |
| Tobu Railway | Japan | Railways | JPY 2515 | $8.2B | 1.9x | 9.7x |
| Trinity Indus | United States of America | Railways | $28 | $8.0B | 3.4x | 10.6x |
| Odakyu Electric Railway | Japan | Railways | JPY 1605 | $7.4B | 2.7x | 11.6x |
| Aurizon Holdings | Australia | Railways | AUD 3 | $7.2B | 2.8x | 6.9x |
| Kyushu Railway | Japan | Railways | JPY 3871 | $6.5B | 2.1x | 9.4x |
| Keisei Electric Railway | Japan | Railways | JPY 1322 | $6.3B | 2.9x | 14.0x |
| Indian Railway Catering and Tourism | India | Railways | INR 704 | $6.1B | 10.9x | 32.0x |
| China Railway Signal | Hong Kong | Railways | HKD 6 | $5.8B | 1.2x | 8.2x |
| Bangkok Expressway | Thailand | Railways | THB 5 | $5.4B | 10.2x | 18.9x |
| Inner Mongolia First Machinery Group | China | Industrial Parts, Railways | CNY 21 | $4.6B | 2.9x | 31.1x |
| Nankai Electric Railway | Japan | Railways | JPY 2662 | $4.6B | 2.6x | N/A |
| Container Corporation of India | India | Railways | INR 527 | $4.2B | 4.0x | 18.8x |
| FirstGroup | United Kingdom of Great Britain and Northern Ireland | Railways | £2 | $3.2B | 0.5x | 3.1x |
| Nishi-Nippon Railroad | Japan | Railways | JPY 2254 | $3.1B | 1.0x | 10.0x |
| ComfortDelGro | Singapore | Railways | SGD 1 | $3.1B | 0.8x | 5.2x |
| Greenbrier Companies | United States of America | Railways | $45 | $3.0B | 0.9x | 6.1x |
| Guangshen Railway | China | Railways | CNY 3 | $2.9B | 0.7x | 6.2x |
| MRS Logistica | Brazil | Railways | BRL 25 | $2.6B | N/A | N/A |
| CAF | Spain | Railways | €53 | $2.5B | 0.5x | 6.0x |
| Stadler Rail | Switzerland | Railways | CHF 20 | $2.1B | 0.5x | 5.9x |
| Vossloh | Germany | Railways | €88 | $1.9B | 1.2x | 9.0x |
| Triangle Defense Co. | China | Defense Systems, Railways, Aircraft & Space Systems | CNY 25 | $1.7B | 6.2x | 19.7x |
| Jungfraubahn Holding | Switzerland | Travel Services, Railways | CHF 232 | $1.6B | 4.3x | 9.5x |
| Titagarh Rail Systems | India | Railways | INR 882 | $1.4B | 3.1x | 27.0x |
| Newag | Poland | Railways, Machinery, Rail Infrastructure | PLN 80 | $1.0B | N/A | N/A |
| Talgo | Spain | Railways | €3 | $912M | 1.2x | 18.7x |
| SAPTCO | Saudi Arabia | Road Transportation, Railways | SAR 13 | $776M | N/A | N/A |
| BVZ Holding | Switzerland | Railways | CHF 1040 | $651M | N/A | N/A |
| Uestra Hannoversche | Germany | Railways | €9 | $313M | N/A | N/A |
| NRC Group | Norway | Railways | NOK 8 | $219M | 0.3x | 7.3x |
| Nurminen Logistics | Finland | Railways | €1 | $99.0M | 0.7x | 3.1x |
| SBF | Germany | Railways | €6 | $70.3M | 1.3x | 28.8x |
| SMT Scharf | Germany | Railways | €7 | $31.7M | 0.3x | 5.5x |
| Signaux Girod | France | Railways | €15 | $16.5M | N/A | N/A |
| Railway Metrics and | Sweden | Railways | SEK 1 | $6.5M | N/A | N/A |
| Fnm | Italy | Railways | €0 | -$233M | -0.3x | -0.9x |
Valuation multiples as of last 12 months (LTM). Stock prices as of October 15, 2025. Financial data powered by Morningstar and FactSet.
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