May 2026
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Largest Road Infrastructure Public Companies in Australia
Benchmark revenue and EBITDA valuation multiples for public comps like
Transurban Group, Atlas Arteria, Ventia, Smart Parking and AVADA Group.
 | Transurban Group is an owner/operator of toll roads in Melbourne, Sydney, and Brisbane. It also owns toll roads in Virginia, USA and Montreal, Canada. The weighted average concession life across the portfolio is about 25 years. Australian assets contribute around 90% of proportional revenue. | $10 | +3% | $32B | $46B | 17.1x | 25.2x | ||
| Atlas Arteria is a global toll-road investor created out of the reorganization of Macquarie Infrastructure Group in 2010. The firm's main asset is a 30.82% stake in Autoroutes Paris-Rhin-Rhone, or APRR. APRR owns concessions to toll more than 2,300 kilometers of motorways in eastern France, most ending late 2035. The firm also wholly owns the Dulles Greenway and 66.67% of the Chicago Skyway, both in the US. | $3 | -8% | $5B | $6B | 53.4x | 23.6x | ||
| While Ventia is not the largest player with an estimated sub 10% share of addressable markets, it is nonetheless a leading infrastructure maintenance services provider in Australia and New Zealand. Its capabilities span the full asset lifecycle including operations and maintenance, facilities management, minor capital works, environmental services, and other solutions. And its business model is favorably capital-light via flexing of a large contractor base complementing a deep pool of talented employees. Ventia has long-term relationships with a diverse range of public and private sector clients with many client relationships maintained for decades. Contracts are favorably long with an average five-year duration at inception and most containing some form of embedded price escalation. | $4 | +28% | $4B | $4B | 0.9x | 10.3x | ||
| Smart Parking Ltd engages in the provision of design, development, and management of parking technology. It operates through three segments. The Technology segment consists of the sale of Smart City and IoT technology products and solutions predominantly to the parking market globally; the Parking Management segment, which is the key revenue driver, consists of the provision of car parking management services on behalf of third party car park owners and on sites leased by the company and managed on its own behalf in the UK; and Research and Development segment includes costs to research, develop and enhance software/hardware for both the Technology and Parking Management divisions. Geographically, it has presence in North America; UK and Europe; Asia, and Australia. | $1 | -6% | $244M | $232M | 4.2x | 16.5x | ||
| AVADA Group Ltd is an Australian traffic management operator and ancillary service provider with an established network throughout Queensland and New South Wales. The group has four reportable segments: Queensland Traffic Management, New South Wales Traffic Management, Victoria Traffic Management and New Zealand Traffic Management. Queensland Traffic Management is the key revenue generator for the group. It provides services to government clients and contractors in the civil infrastructure and maintenance sector. | $0 | -- | $6M | $34M | 0.3x | (13.2x) | ||
| Median | $3 | -1% | $4B | $4B | 4.2x | 16.5x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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