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: 3.3
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

$3.05

19 Jun
2025

-0.050

OPEN

$3.10

-1.61%

HIGH

$3.12

3,812,647

LOW

$3.05

TARGET
$3.31 8.5% upside
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 FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 22.1 22.3 xxx
DPS (cps) xxx 17.0 18.0 xxx
EPS Growth xxx 47.2% 1.2% xxx
DPS Growth xxx 13.3% 5.6% xxx
PE Ratio xxx N/A 13.7 xxx
Dividend Yield xxx N/A 5.9% xxx
Div Pay Ratio(%) xxx 77.1% 80.4% xxx

Dividend yield today if purchased 3 years ago: 4.46%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.56

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

0.2

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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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgans

28/05/2025

1

Upgrade to Add from Hold

$3.10

1.64%

Morgans revisited the outlook for Aurizon Holdings following a weak narrative in the bulk and containerised freight segments, which it believes led to the $500m subordinated debt issue and cost-cut program.

The broker downgraded FY25 revenue forecast by -3%, and lowered EBITDA forecast by -8% to $1.52bn, which now sits below the company's guidance range of $1.66-1.74bn. Lower volumes across both the network and coal divisions are the key reasons behind the downgrade.

The broker removed share buyback from its forecasts, expecting the company to instead pay down debt with free cash flow.

Target cut to $3.10 from $3.28. Rating upgraded to Add from Hold.

FORECAST
Morgans forecasts a full year FY25 dividend of 15.00 cents and EPS of 18.00 cents.
Morgans forecasts a full year FY26 dividend of 23.00 cents and EPS of 29.00 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$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

18/06/2025

3

Neutral

$3.15

3.28%

Aurizon Holdings bagged a freight contract for BHP Group's ((BHP)) copper operations in South Australia for a period of up to 15 years (including possible extensions). Revenue of up to $1.5bn or around $150m per year is expected at full run-rate.

Jarden describes this contract win as marking the end of a challenging period for the bulk business, expecting earnings to stabilise ahead of organic improvements.

The broker's FY25 EBITDA forecast is below the company's guidance range at $1.63bn due to the increased risk of non-recovery of client-owed amounts. Overall, bulk EBIT forecasts cut for FY25-27.

Neutral. Target trimmed to $3.15 from $3.20.

FORECAST
Jarden forecasts a full year FY25 dividend of 18.30 cents and EPS of 22.80 cents.
Jarden forecasts a full year FY26 dividend of 20.30 cents and EPS of 25.80 cents.
Access Extra Coverage Research History >

AZJ STOCK CHART

FNArena News on AZJ

Latest Transportation & Logistics News

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3
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4
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8
Tough Ask As Aurizon Speeds Up Bulk Haulage

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10
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