May 2026
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Largest Road Infrastructure Public Companies in France
Benchmark revenue and EBITDA valuation multiples for public comps like
Vinci, Eiffage and Société Marseillaise du Tunnel Prado Carénage.
 | Vinci is one of the world’s largest owners of transport infrastructure. Its concession assets include 4,400 kilometers of toll roads in France and 72 airports across 14 countries, making Vinci the world’s largest airport operator in terms of managed passenger numbers. The concession’s business contributes less than one fifth of group revenue but the majority of operating profit. Vinci’s contracting business provides a broad variety of energy and and construction services. France contributes 42% of group revenue. | $146 | +1% | $81B | $103B | 1.2x | 6.4x | ||
| Eiffage is a leading French infrastructure concessions operator and construction business. It operates four business lines: construction, infrastructure, energy, and concessions. Its concession assets include 2,635 kilometers of toll roads (88% of which belong to APRR and AREA), two airports, and numerous public/private partnerships in France. The concessions segment accounts for 16% of group revenue but generates 66% of group adjusted EBIT. Eiffage’s contracting division currently benefits from a record backlog, providing good visibility on sales growth and margin expansion. | $144 | +3% | $14B | $26B | 0.8x | 5.1x | ||
| Ste Marseillaise du Tunnel Prado Carenage SA is engaged in operating Prado Carenage Tunnel and the Louis-Rege Tunnel in France. | $34 | -1% | $198M | $185M | 4.0x | 5.3x | ||
| Median | $144 | +1% | $14B | $26B | 1.2x | 5.3x |
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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