Public Comps and Valuation Multiples for Rail Infrastructure

Benchmark revenue and EBITDA valuation multiples for public comps like
CRRC Corp., LS Electric, China Railway Group, Getlink and China Railway Construction.

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Viewing 25 of 27 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
CRRC Corp.	$27B	$28B	$43B	0.7x	6.7x
LS Electric	$18B	$18B	$4.8B	3.8x	28.8x
China Railway Group	$15B	$114B	$154B	0.7x	14.1x
Getlink	$12B	$16B	$1.9B	8.4x	16.4x
China Railway Construction	$12B	$110B	$154B	0.7x	11.6x
Zhuzhou CRRC Times	$10B	$11B	$4.6B	2.4x	11.3x
Alstom	$8.2B	$11B	$23B	0.5x	5.9x
China Railway Signal	$7.1B	$6.2B	$5.3B	1.2x	7.9x
Glarun Technology	$5.1B	$5.1B	$506M	10.0x	-
Rail Vikas Nigam	$4.1B	$4.5B	$2.3B	1.9x	48.0x
Indian Railway Catering	$3.7B	$3.4B	$580M	5.9x	18.8x
Ramkrishna Forgings	$1.3B	$1.5B	$442M	3.5x	21.1x
Newag	$1.1B	$1.1B	$662M	1.7x	7.5x
IRCON International	$996M	$1.1B	$905M	1.2x	28.5x
RITES	$984M	$688M	$277M	2.5x	11.2x
GRK Infra	$935M	$765M	$1B	0.8x	6.9x
GMR Power and Urban Infra	$755M	$1.9B	$762M	2.4x	11.1x
Hirect	$363M	$387M	-	-	-
FTAI Infrastructure	$340M	$4.1B	$692M	6.0x	14.5x
Concord Control Systems	$266M	$271M	-	-	-
Quadrant Future Tek	$169M	$168M	-	-	-
FreightCar America	$137M	$219M	$404M	0.5x	7.9x
Triunfo	$80M	$285M	-	-	-
Railcare Group	$76M	$132M	$75M	1.8x	5.7x
JITF Infralogistics	$70M	$446M	-	-	-
Zue	$68M		$247M
Ferrocarril del Pacifico	$28M		-