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Australian (ASX) Infrastructure Industry Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies6
  • 7D0.4%
  • 3M-1.4%
  • 1Y2.1%
  • YTD-2.9%

In the last week, Infrastructure has been flat. Furthermore, the industry has been flat for the past year as well. Earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

Has the Australian Infrastructure Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026AU$60.6bAU$9.6bAU$991.5m40.6x61.2x6.3x
Thu, 19 Mar 2026AU$62.8bAU$9.6bAU$991.5m40.1x63.3x6.6x
Sat, 14 Feb 2026AU$61.5bAU$9.2bAU$644.7m28.6x95.4x6.7x
Mon, 12 Jan 2026AU$61.5bAU$9.2bAU$644.7m27.5x95.5x6.7x
Wed, 10 Dec 2025AU$64.0bAU$9.2bAU$644.7m25.5x99.3x7x
Fri, 07 Nov 2025AU$62.7bAU$9.2bAU$644.7m24.1x97.3x6.8x
Sun, 05 Oct 2025AU$60.4bAU$9.2bAU$644.7m25.1x93.7x6.6x
Tue, 02 Sep 2025AU$63.0bAU$9.2bAU$644.7m25.7x97.7x6.9x
Thu, 31 Jul 2025AU$60.8bAU$8.8bAU$723.7m27.9x84x6.9x
Sat, 28 Jun 2025AU$59.8bAU$8.8bAU$723.7m25.2x82.6x6.8x
Mon, 26 May 2025AU$61.5bAU$8.8bAU$723.7m24.8x84.9x7x
Wed, 23 Apr 2025AU$58.6bAU$8.8bAU$723.7m23.9x81x6.7x
Fri, 21 Mar 2025AU$55.9bAU$8.8bAU$725.6m22.1x77.1x6.4x
Sun, 16 Feb 2025AU$57.8bAU$8.6bAU$931.7m30x62.1x6.7x
Tue, 14 Jan 2025AU$58.2bAU$8.6bAU$931.7m29.8x62.4x6.8x
Thu, 12 Dec 2024AU$55.9bAU$8.6bAU$931.7m30x60x6.5x
Sat, 09 Nov 2024AU$55.3bAU$8.6bAU$931.7m28.5x59.4x6.4x
Mon, 07 Oct 2024AU$56.2bAU$8.6bAU$931.7m29.3x60.3x6.5x
Wed, 04 Sep 2024AU$58.3bAU$8.6bAU$933.2m30.4x62.5x6.8x
Fri, 02 Aug 2024AU$56.1bAU$8.3bAU$812.0m23.3x69.1x6.8x
Sun, 30 Jun 2024AU$53.7bAU$8.1bAU$794.9m29x67.5x6.6x
Tue, 28 May 2024AU$47.4bAU$8.0bAU$471.4m35.4x100.6x6x
Thu, 25 Apr 2024AU$55.0bAU$8.1bAU$794.9m28.2x69.2x6.8x
Sat, 23 Mar 2024AU$55.0bAU$8.1bAU$794.9m27.5x69.2x6.8x
Mon, 19 Feb 2024AU$55.5bAU$8.0bAU$798.2m29.3x69.5x6.9x
Wed, 17 Jan 2024AU$56.2bAU$7.9bAU$635.2m29.2x88.5x7.1x
Fri, 15 Dec 2023AU$56.3bAU$7.9bAU$635.2m29.5x88.7x7.1x
Sun, 12 Nov 2023AU$53.7bAU$7.9bAU$635.2m28.1x84.5x6.8x
Tue, 10 Oct 2023AU$52.9bAU$7.9bAU$635.2m27.1x83.3x6.7x
Thu, 07 Sep 2023AU$55.5bAU$7.9bAU$635.5m30.3x87.3x7x
Sat, 05 Aug 2023AU$58.6bAU$7.7bAU$666.7m30.4x87.9x7.6x
Mon, 03 Jul 2023AU$59.3bAU$7.7bAU$666.7m30x88.9x7.7x
Wed, 31 May 2023AU$61.2bAU$7.7bAU$666.7m31.8x91.8x7.9x
Fri, 28 Apr 2023AU$62.9bAU$7.7bAU$666.7m32.5x94.3x8.1x
Price to Earnings Ratio

94.3x


Total Market Cap: AU$62.9bTotal Earnings: AU$666.7mTotal Revenue: AU$7.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Infrastructure Industry Price to Earnings3Y Average 79.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Infrastructure industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 60.6x which is lower than its 3-year average PE of 79.4x.
  • The industry is trading close to its 3-year average PS ratio of 6.9x.
Past Earnings Growth
  • The earnings for companies in the Infrastructure industry have grown 14% per year over the last three years.
  • Revenues for these companies have grown 7.3% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Australian Industrials industry?

AU Market0.77%
Industrials0.52%
Infrastructure0.37%
Highways and Railtracks0.52%
Airport Services0%0
Marine Ports and Services-0.27%
Industry PE
  • Investors are most optimistic about the Highways and Railtracks industry even though it's trading below its 3-year average PE ratio of 108x.
    • Analysts are expecting annual earnings growth of 13.6%, which is lower than the prior year's growth of 257.3% per year.
  • Investors are most pessimistic about the Marine Ports and Services industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 32.4x.
Forecasted Growth
  • Analysts are most optimistic on the Marine Ports and Services industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 34% per year.
  • In contrast, the Highways and Railtracks industry is expected to see its earnings grow by 14% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TCL Transurban GroupAU$13.730.7%
+AU$312.0m		-0.9%PE89.6x
QUB Qube HoldingsAU$5.010.4%
+AU$35.4m		29.1%PE40.6x

Latest News

BWN
AU$0.40
Bhagwan Marine
7D
-1.3%
1Y
-12.2%

BWN: Recent Equity Offering Will Support Future Upside Repricing Potential

Analysts have modestly adjusted their price target on Bhagwan Marine. This reflects small tweaks to assumptions around the discount rate, revenue growth, profit margin and future P/E while keeping fair value broadly aligned at around A$0.92.
DBI
AU$5.18
Dalrymple Bay Infrastructure
7D
-2.4%
1Y
31.1%

DBI: Higher Distribution Guidance Will Support Stable Income With Fair Pricing Maintained

Analysts have made a very small upward adjustment to their fair value estimate for Dalrymple Bay Infrastructure to about A$5.50, reflecting updated assumptions around revenue growth, profit margins and the future P/E multiple. What's in the News Announced a new distribution of A$0.0675 per security for fully paid ordinary or notes stapled securities, with an ex date of 27 February 2026, record date of 2 March 2026, and payment date of 19 March 2026 (company announcement).
TCL
AU$13.73
Transurban Group
7D
0.7%
1Y
-0.9%

TCL: Tunnel Opening And 2025 Distribution Will Support A Fairly Valued Outlook

Analysts have trimmed their price target on Transurban Group from A$14.36 to A$13.99, reflecting adjustments to fair value, discount rate, revenue growth assumptions, profit margin outlook and the future P/E multiple. Valuation Changes Fair Value: Trimmed slightly from A$14.36 to A$13.99.
QUB
AU$5.01
Qube Holdings
7D
0.4%
1Y
29.1%

QUB: Higher Fully Franked Dividend And EPSA Outlook Will Support Balanced Future Returns

Qube Holdings' analyst price target has been restated at A$5.02, with analysts pointing to steady assumptions for fair value, revenue growth, profit margins and P/E expectations, along with a slightly adjusted discount rate, as the key drivers of their unchanged view. What's in the News Directors declared a fully franked interim dividend of A$0.0535 per share for the six months ended 31 December 2025, payable on 9 April 2026, with a record date of 4 March 2026 and an ex date of 3 March 2026 (company announcement).
ALX
AU$4.28
Atlas Arteria
7D
-0.9%
1Y
-13.4%
SRH
AU$0.086
Saferoads Holdings
7D
-1.1%
1Y
n/a