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

$3.12

23 Apr
2025

0.050

OPEN

$3.11

1.63%

HIGH

$3.12

6,615,175

LOW

$3.09

TARGET
$3.377 8.2% 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 . Z2U .
FNARENA'S MARKET CONSENSUS FORECASTS
AZJ: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 22.1 23.8 xxx
DPS (cps) xxx 17.0 19.1 xxx
EPS Growth xxx 47.2% 7.7% xxx
DPS Growth xxx 13.3% 12.1% xxx
PE Ratio xxx N/A 13.0 xxx
Dividend Yield xxx N/A 6.2% xxx
Div Pay Ratio(%) xxx 77.1% 80.2% xxx

Dividend yield today if purchased 3 years ago: 4.36%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.50

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

0.0

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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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Citi

18/02/2025

3

Neutral

$3.40

8.97%

In the face of heavy investment by Aurizon Holdings, Citi was surprised by ongoing softness in the operating business, noting an overall low-quality 1H result driven by misses in Coal/Bulk.

The result could have been worse if not for useful life extensions and reduced depreciation, explains the broker. The network business again proved resilient, assesses Citi.

Bulk earnings of $20m met only half of the consensus forecast driven by softer grain, a derailment, and doubtful debt provisions, explains Citi.

While FY25 guidance was maintained, the analysts believe risks remain in what appears a softening contracting profile and a slightly higher required 2H skew than the average over the past five years.

Neutral rating. Target price slips to $3.40 from $3.50.

FORECAST
Citi forecasts a full year FY25 dividend of 18.90 cents and EPS of 23.40 cents.
Citi forecasts a full year FY26 dividend of 21.60 cents and EPS of 27.00 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$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

2

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

Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

19/02/2025

3

Neutral

$3.20

2.56%

Aurizon Holdings' 1H25 net profit missed Jarden's estimate, with the broker noting the result was characterised by a large miss on expectations for Bulk and benefit from a legal settlement. 

The broker sees the outlook as increasingly dominated by investors questioning the two paths forward for earnings growth. Can Bulk deliver on expectations in FY26 and beyond, and whether Containerised Freight and Land-bridging will meaningfully contribute in the near term?

Jarden remains cautious on the outlook for Bulk earnings contribution, with its EBIT estimates averaging -9% below consensus over FY25-27. Target price $3.2 and Neutral rating.

FORECAST
Jarden forecasts a full year FY25 dividend of 19.10 cents and EPS of 23.90 cents.
Jarden forecasts a full year FY26 dividend of 20.50 cents and EPS of 26.20 cents.
Access Extra Coverage Research History >

AZJ STOCK CHART

FNArena News on AZJ

1
Rudi’s View: Best Buys & Conviction Calls On ASX

Apr 10 2025 - Rudi's View
2
Rudi’s View: Post February Conviction Calls

Mar 13 2025 - Rudi's View
3
Australian Broker Call *Extra* Edition – Mar 05, 2025

Mar 05 2025 - Daily Market Reports
4
Rudi’s View: February’s Reality Check

Mar 05 2025 - Rudi's View
5
Rudi’s View: Best Ideas & Conviction Calls

Feb 20 2025 - Rudi's View

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