AURIZON HOLDINGS LIMITED (AZJ)
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AZJ

AZJ - AURIZON HOLDINGS LIMITED

FNArena Sector : Transportation & Logistics
Year End: June
GICS Industry Group : Transportation
Debt/EBITDA: N/A
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Aurizon Holdings is Australia's largest freight rail transport company. Formerly a Queensland Government-owned company, it was privatised and floated on the ASX in 2010.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.25

19 Aug
2025

-0.080

OPEN

$3.29

-2.40%

HIGH

$3.31

4,907,800

LOW

$3.23

TARGET
$3.177

0.00 change from previous day

 -2.3% downside
Franking for last dividend paid out: 60%
OTHER COMPANIES IN THE SAME SECTOR
ACE . AIZ . AQZ . AVD . BXB . CLX . ERD . KLS . KSC . LAU . NTD . QAN . QUB . SLH . SPZ . SST . THL . WTC .
FNARENA'S MARKET CONSENSUS FORECASTS
AZJ: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 16.9 24.6 xxx
DPS (cps) xxx 15.7 19.8 xxx
EPS Growth xxx - 23.2% 45.1% xxx
DPS Growth xxx - 7.6% 26.1% xxx
PE Ratio xxx N/A 13.2 xxx
Dividend Yield xxx N/A 6.1% xxx
Div Pay Ratio(%) xxx 92.7% 80.6% xxx

Dividend yield today if purchased 3 years ago: 3.97%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.83

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 26/08 - ex-div 7.30c (franking 60%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx22.1
DPS All xxxxxxxxxxxxxxx17.0
Sales/Revenue xxxxxxxxxxxxxxx3,756.0 M
Book Value Per Share xxxxxxxxxxxxxxx241.1
Net Operating Cash Flow xxxxxxxxxxxxxxx1,274.0 M
Net Profit Margin xxxxxxxxxxxxxxx10.81 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx9.24 %
Return on Invested Capital xxxxxxxxxxxxxxx4.62 %
Return on Assets xxxxxxxxxxxxxxx3.43 %
Return on Equity xxxxxxxxxxxxxxx9.24 %
Return on Total Capital xxxxxxxxxxxxxxx8.71 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx147.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx979 M
Long Term Debt xxxxxxxxxxxxxxx4,104 M
Total Debt xxxxxxxxxxxxxxx5,083 M
Goodwill - Gross xxxxxxxxxxxxxxx50 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx49 M
Price To Book Value xxxxxxxxxxxxxxx1.51

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx823.0 M
Capex % of Sales xxxxxxxxxxxxxxx21.91 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,907 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx15 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx99 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.3

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

4

xxxxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

19/08/2025

3

Neutral

$3.25

0%

Aurizon Holdings' FY25 EBITDA was pre-released and was in line with expectations. Normalised EPS and DPS met UBS' forecast but slightly missed the consensus.

The company announced a new buyback program of $150m vs the broker's expectation of $80m.

FY26 underlying EBITDA guidance of $1.68-1.75bn was towards the lower end of the broker's $1.692bn forecast. The broker considered whether it is too conservative but reckons growing EBITDA by $140m to guidance midpoint is a tough task.

DPS yield is seen as a floor, but valuation support is considered to be limited at current levels. The broker notes strategic optionality around Network/capital structure is a potential swing factor, but risks remain non-coal diversification takes longer to deliver.

Neutral. Target unchanged at $3.25.

FORECAST
UBS forecasts a full year FY26 EPS of 24.00 cents.
UBS forecasts a full year FY27 EPS of 27.00 cents.

Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

20/08/2025

3

Neutral

$3.15

-3.08%

Aurizon Holdings reported FY25 core profit of $348m, which Jarden notes was -4% below consensus.

FY26 guidance implies reliance on Above Rail businesses, which have been volatile, hence, the broker lowers its FY26 core EPS forecast by -4% and across FY27-FY28 by -2%.

A Network ownership review is underway, note the analysts, with valuation, deal structure and potential after-tax proceeds key factors.

Past analysis suggested full monetisation could have resulted in -$80-120m of additional costs, and Jarden sees similar risks this time.

Losses in Containerised Freight are also a concern, with FY25 losses estimated at -$74m versus -$42m in FY24, despite -$300m already spent of a $425m investment, highlights the broker.

Jarden forecasts losses to narrow to around -$35m in FY26-FY27, but has low confidence given limited disclosure.

The target price rises to $3.15 from $3.10. Neutral rating maintained.

FORECAST
Jarden forecasts a full year FY26 dividend of 19.60 cents and EPS of 24.50 cents.
Jarden forecasts a full year FY27 dividend of 22.80 cents and EPS of 28.50 cents.
Access Extra Coverage Research History >

AZJ STOCK CHART

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