ATLAS ARTERIA (ALX)
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ALX

ALX - ATLAS ARTERIA

FNArena Sector : Infrastructure & Utilities
Year End: December
GICS Industry Group : Transportation
Debt/EBITDA: 26.73
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Atlas Arteria, formerly known as Macquarie Atlas Roads, is a global owner, operator and developer of toll roads. It was created and listed in 2010 following the restructuring of the Macquarie Infrastructure Group.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.72

05 Mar
2026

0.000

OPEN

$4.73

0.000

HIGH

$4.79

2,572,676

LOW

$4.69

TARGET
$4.93 4.4% upside
OTHER COMPANIES IN THE SAME SECTOR
AGL . AIA . APA . CEN . DBI . DBI . GNE . GNP . MEZ . ORG . SRJ . TCL .
FNARENA'S MARKET CONSENSUS FORECASTS
ALX: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 17.9 35.0 xxx
DPS (cps) xxx 0.0 40.0 xxx
EPS Growth xxx - 5.7% 95.6% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 13.5 xxx
Dividend Yield xxx N/A 8.5% xxx
Div Pay Ratio(%) xxx N/A 114.3% xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

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: 24/09 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx17.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx160.0 M
Book Value Per Share xxxxxxxxxxxxxxx399.9
Net Operating Cash Flow xxxxxxxxxxxxxxx614.0 M
Net Profit Margin xxxxxxxxxxxxxxx162.19 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx4.28 %
Return on Invested Capital xxxxxxxxxxxxxxx3.36 %
Return on Assets xxxxxxxxxxxxxxx3.25 %
Return on Equity xxxxxxxxxxxxxxx4.28 %
Return on Total Capital xxxxxxxxxxxxxxx-0.10 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx33.0 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx107 M
Long Term Debt xxxxxxxxxxxxxxx1,615 M
Total Debt xxxxxxxxxxxxxxx1,722 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx274 M
Price To Book Value xxxxxxxxxxxxxxx1.22

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx0.6 M
Capex % of Sales xxxxxxxxxxxxxxx0.38 %
Cost of Goods Sold xxxxxxxxxxxxxxx147 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx21 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx5,311 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

0.1

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$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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Macquarie

27/02/2026

1

Outperform

$5.43

15.04%

Atlas Arteria delivered FY25 proportionate EBITDA of $1,466m, in line with Macquarie, with stronger traffic across most assets offset by overhead costs running at 10% of cashflow.

Dividend guidance remains at 40c despite the extension of the French temporary tax, while Greenway’s 8.5% traffic growth supports a stronger pricing pathway pending the SCC decision later in 2026.

Earnings forecasts are trimmed by -3.2% in FY26 and only slightly thereafter, reflecting currency headwinds and elevated overheads.

Target slips $5.43 from $5.55. Outperform retained, with Greenway pricing progress and improved Skyway traffic key catalysts.

FORECAST
Macquarie forecasts a full year FY26 dividend of 40.00 cents and EPS of 59.90 cents.
Macquarie forecasts a full year FY27 dividend of 40.00 cents and EPS of 66.40 cents.

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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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

0

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
Access Extra Coverage Research History >

ALX STOCK CHART

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