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Australian rail freight operator hauling coal in Queensland and operating a national bulk/freight rail network.
Australian rail freight operator hauling coal in Queensland and operating a national bulk/freight rail network.
Hauls coal for mining companies under long-term contracts, and separately earns regulated access charges from running the Central Queensland coal rail network used by every coal haulier. A regulator approves the allowed return on that network, so the regulated side earns steadily while haulage follows mining volumes. Most of the business is in Queensland.
In one line: A rail freight operator like a smaller CSX focused on coal haulage.
Moat: wide (regulatory licence, installed base, scale). Owns/operates regulated rail infrastructure and rolling stock that would be prohibitively costly to duplicate.
Headquarters: Brisbane, Australia · Founded: 1865 · Employees: 5,997
Size Aurizon (AZJ.AX) is an Australia Industrials company (Railroads) with a market value of $4.49B, the 72nd largest of 316 Australia companies the cockpit tracks. Shares closed at A$3.85 on 6 Nov 2026.
Performance Over six months the shares fell 4.9%, against +2.6% for the median peer and +4.1% for the Australia market (cap-weighted) — 3rd lowest of 15 in its peer set.
Growth Revenue grew 5.9% over the last twelve months (peer median +5.0%); the operating margin is 21.2% (peer median 11.9%).
Valuation It trades at 14.8× forward earnings against a peer median of 15.3× (7th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.2 points below its cost of capital (6.6% WACC).
Credit Aurizon has 1 bond outstanding ($172M), rated BBB- by the agencies.
Next results Next results expected around 8 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$4.10B | A$4.10B | A$3.87B | A$3.76B | A$3.44B |
| Revenue growth | — | +6% | +3% | +9% | — |
| Gross profit | A$885M | A$890M | A$852M | A$849M | A$712M |
| EBITDA | A$1.61B | A$1.61B | A$1.49B | A$1.54B | A$1.32B |
| Net income | A$362M | A$362M | A$303M | A$406M | A$276M |
| Free cash flow | A$397M | A$397M | A$435M | A$473M | A$106M |
| Capital expenditure | A$751M | A$751M | A$696M | A$823M | A$758M |
| Total debt | n/a | A$5.63B | A$5.50B | A$5.08B | A$5.28B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AZJ.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.9% | +6.1% | 8th highest of 15 |
| 6-month return | -4.9% | +2.6% | 3rd lowest of 15 |
| Distance from 52-week high | -12.9% | -9.3% | 5th lowest of 15 |
| Revenue growth (TTM) | +5.9% | +5.0% | 6th highest of 15 |
| Operating margin | 21.2% | 11.9% | 4th highest of 15 |
| Forward P/E | 14.8× | 15.3× | 7th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 4.4% | 4.4% | 3rd most demanding of 6 |
| Growth delivered (Del g) | +6.7% | +14.3% | lowest of 6 |
| Hurdle (Req g minus delivered) | -2.3 pp | -12.5 pp | 2nd most demanding of 6 |
| ROIC minus cost of capital | -0.2 pp | -1.2 pp | 5th highest of 15 |
| EV / EBITDA | 7.5× | 13.5× | cheapest of 13 |
| Net debt / EBITDA | 3.4× | 5.3× | 3rd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Aurizon AZJ.AX | Australia | $4.49B | -5% | +6% | 21% | 14.8× | 4.4% | +6.7% |
| Keisei Electric Railway 9009.T | Japan | $4.51B | +26% | +4% | 11% | 15.5× | n/a | n/a |
| Odakyu Electric Railway 9007.T | Japan | $3.80B | +11% | +3% | 13% | 15.1× | n/a | n/a |
| Tobu Railway 9001.T | Japan | $3.58B | +3% | +5% | 11% | 10.0× | n/a | n/a |
| Container Corporation of India CONCOR.NS | India | $3.55B | -16% | +1% | 14% | 25.4× | 33.8% | +7.2% |
| Kyushu Railway 9142.T | Japan | $3.53B | 0% | +5% | 14% | 11.3× | n/a | n/a |
| Guangshen Railway 601333.SS | China | $3.16B | +1% | +5% | 6% | 16.3× | -14.9% | +11.9% |
| GATX GATX | United States | $6.38B | -2% | +30% | 30% | 17.0× | n/a | n/a |
| Keio 9008.T | Japan | $2.80B | +3% | +10% | 10% | 10.5× | n/a | n/a |
| Keikyu 9006.T | Japan | $2.73B | +2% | +4% | 11% | 13.4× | n/a | n/a |
| West Japan Railway 9021.T | Japan | $9.19B | +12% | +6% | 10% | 13.8× | 2.4% | +14.9% |
| Keihan 9045.T | Japan | $2.15B | +3% | +10% | 15% | 11.5× | n/a | n/a |
| Jungfraubahn JFN.SW | Switzerland | $1.81B | +1% | -4% | 21% | 22.2× | 4.4% | +22.3% |
| Getlink GET.PA | France | $12.3B | +9% | +9% | 40% | 35.3× | 10.1% | +14.3% |
| Daqin Railway 601006.SS | China | $14.5B | -7% | +3% | 6% | 16.3× | n/a | n/a |
Aurizon has 1 bond outstanding with $172M face value. The agencies rate it BBB-.