Fact based stock research
Transurban (ASX:TCL)

AU000000TCL6

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Transurban stock research in summary

transurban.com.au

ANALYSIS: With an Obermatt Combined Rank of 7 (worse than 93% compared with investment alternatives), Transurban (Highways & Railtracks, Australia) shares have lower financial characteristics compared with similar stocks. Shares of Transurban are low in value (priced high) with a consolidated Value Rank of 19 (worse than 81% of alternatives), and are riskily financed (Safety Rank of 5, which means above-average debt burdens) but show above-average growth (Growth Rank of 55). ...read more

RECOMMENDATION: A Combined Rank of 7, is a sell recommendation based on Transurban's financial characteristics. As the company Transurban shows low value with an Obermatt Value Rank of 19 (81% of comparable investments are less expensive), investors should look at the other ranks. In this case, growth is expected to be above-average, better than 55% of comparable companies (Obermatt Growth Rank is 55). This is a typical case. Companies with above average growth tend to cost more than stocks with slower growth expectations. If this is a high-growth company, the low Obermatt Safety Rank of 5 is a good sign. The more debt a well-performing company has, the higher the returns to shareholders. However, if growth turns negative or interest rates increase, high debt may become a burden. If you believe the future is bright for Transurban, even a low-value company (in terms of its key financial indicators) can be a good investment. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	19
Growth Rank	55
Safety Rank	5
Combined Rank	7

Country	Australia
Industry	Highways & Railtracks
Index	ASX 100, ASX 200, ASX 300, ASX 50, Renewables Users
Size class	Large

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

Why popular stocks have low ratings

It’s easier said than done. When your stock drops, it’s easy to want to sell it and find a better performer. Think twice, or even three times, before trading. Those fees (especially the hidden ones) can eat up your gains.

Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Transurban

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	15	19	17	19
GROWTH
GROWTH	57	43	44	55
SAFETY
SAFETY	24	7	1	5
SENTIMENT
SENTIMENT	19	18	6	^new
360° VIEW
360° VIEW	13	4	1	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Dec-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Transurban is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	15	19	17	19
GROWTH
GROWTH	57	43	44	55
SAFETY
SAFETY	24	7	1	5
COMBINED
COMBINED	24	7	6	7

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Transurban the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 19 (worse than 81% compared with alternatives), Transurban shares are significantly more expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators below average for Transurban. Only the metric dividend yield has an above-average rank, reflecting that dividend practices are expected to be higher than 87% of comparable companies, making the stock an attractive buy for dividend investors. However, dividend investors may get disappointed because all other critical financial indicators are below the market median: Price-to-Sales is 5 which means that the stock price compared with what market professionals expect for future profits is higher than 95% of comparable companies, indicating a low value concerning Transurban's sales levels. The same is valid for Price-to-Profit (also referred to as price-earnings, P/E) with a rank of 1 which means that the stock price compared with what market professionals expect for future profit levels is higher than 99% of comparable companies. In addition, Price-to-Book (also referred to as market-to-book ratio) with a Price-to-Book Rank of 5 is also low. Compared with invested capital, the stock price is higher than for 95% of comparable investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 19, is a sell recommendation based on Transurban's stock price compared with the company's operational size and dividend yields. Should dividend investors pick Transurban? The company-reported financials speak against it. The company is expensive compared with revenue and invested capital levels, two reliable company size indicators. In addition, it currently has a low level of profits. How can future dividends be paid in the case that profits remain low? Dividend investors should choose Transurban only if they reasonably expect the low current profit levels to be transitory. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	7	7	5	5
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	3	1	3	1
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	12	10	3	5
DIVIDEND YIELD
DIVIDEND YIELD	80	79	81	87
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	15	19	17	19

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Transurban; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 55 (better than 55% compared with alternatives), Transurban shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Transurban. Profit Growth has a rank of 94, which means that currently professionals expect the company to grow its profits more than 94% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 63 (above 63% of alternative investments). But Sales Growth has a below the median rank of 34, which means that, currently, professionals expect the company to grow less than 66% of its competitors, and Capital Growth also has a lower rank of 10. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 55, is a buy recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for Transurban. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	67	48	65	34
PROFIT GROWTH
PROFIT GROWTH	57	98	79	94
CAPITAL GROWTH
CAPITAL GROWTH	30	15	1	10
STOCK RETURNS
STOCK RETURNS	51	47	59	63
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	57	43	44	55

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Transurban.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 5 (better than 5% compared with alternatives), the company Transurban has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of Transurban is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with all three metrics below average for Transurban. Liquidity is at 12, meaning that the company generates less profit to service its debt than 88% of its competitors. This indicates that the company is on the riskier side when it comes to debt service. Even worse, Leverage is at a rank of 6, meaning the company has an above-average debt-to-equity ratio. It has more debt than 94% of its competitors. Finally, Refinancing is at a rank of 25 which means that the portion of the debt about to be refinanced is above average. It has more debt in the refinancing stage than 75% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 5 (worse than 95% compared with alternatives), Transurban has a financing structure that is significantly riskier than that of its competitors. This combination is rather dangerous in most situations. Only very promising companies with bright future outlooks and stellar reputations can operate with such risky financing. Investors should look at Obermatt’s Value, Growth, and Sentiment Ranks to confirm a very positive outlook or be careful with investing in stocks of Transurban because it may suffer significantly in case of future difficulties. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	24	20	7	6
REFINANCING
REFINANCING	43	27	23	25
LIQUIDITY
LIQUIDITY	48	18	13	12
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	24	7	1	5

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Transurban and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	51	3	^new
OPINIONS CHANGE
OPINIONS CHANGE	63	42	46	^new
PRO HOLDINGS
PRO HOLDINGS	20	15	60	^new
MARKET PULSE
MARKET PULSE	9	44	12	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	19	18	6	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Transurban.
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