Main source of revenue: Toll road operation

TOP 3 markets:

1. Australia: approx. 60%
2. North America (USA and Canada): approx. 30%
3. Europe: approx. 10%

The Transurban Group generates the majority of its revenue from toll road operation, with Australia being the largest market. In Australia, Transurban operates some of the most important transportation links, leading to a high revenue share.

North America is the second largest market where Transurban operates in the USA and Canada. In recent years, the company has increased its investments in this region to expand its market presence.

Europe contributes a smaller share to the total revenue, but there are also strategic investments being made that could offer long-term growth potential.

Production: No physical production

Transurban Group is a company specialized in the operation and development of toll roads. It does not produce physical products. Instead, Transurban focuses on the management and operation of infrastructure projects, especially in the field of transportation infrastructure. The company operates toll roads and similar transportation solutions in Australia, the USA, and Canada.

Revenue Growth: Estimated 8% annually (2025) Investments in Infrastructure Projects: Over 5 billion AUD (2025)

Transurban Group pursues a growth strategy that strongly focuses on expanding and enhancing its existing infrastructure projects. The company continuously invests in the expansion of highways and toll roads, especially in urban areas, to increase traffic flow capacity and improve user experience.

Another strategic focus is on implementing new technologies for traffic control and toll collection to achieve efficiency gains and reduce operating costs. These technological investments are also intended to lay the foundation for future mobility solutions targeting autonomous driving and intelligent traffic systems.

In addition, Transurban is pursuing a strategy of geographical expansion by entering new markets in the Asia-Pacific region and North America. This expansion is supported by strategic partnerships and acquisitions to strengthen market presence and tap into new revenue sources.

Main materials: Asphalt, steel, concrete
Main supplying countries: China, USA, Australia

Transurban Group, as one of the leading toll road operators, mainly requires materials such as asphalt, steel, and concrete for the construction and maintenance of their infrastructures.

Asphalt and concrete are often sourced locally in Australia to minimize transportation costs. Steel, on the other hand, is frequently imported from China, as the country is a significant producer and offers competitive prices. Additionally, specialized materials or technologies from the USA could be imported to meet the latest standards in infrastructure development.

The exact sources of imports may vary depending on the project and specific requirements, with Transurban striving to utilize the best quality and cost options.

Market share: 70% in the Australian toll road market (2024)

EBITDA margin: 75% (2024)

Transurban Group holds a significant competitive advantage in the toll road infrastructure sector, especially in Australia. With a market share of around 70%, the company dominates the Australian toll road market. This strong market position enables Transurban to benefit from stable and recurring revenues.

The EBITDA margin of 75% demonstrates the high profitability and efficiency of the company. This indicator reflects Transurban's ability to generate high profits from its revenues, indicating effective cost control and strong pricing power.

In addition, Transurban benefits from long-term concessions and contracts that secure a stable source of income and minimize the risk of market fluctuations. Continuous investments in infrastructure projects and technological innovations further strengthen the market position and contribute to maintaining the competitive advantage.

Institutional investor share: approx. 60% (2025, estimated)

Insider purchases/sales: No significant transactions in the last quarter (2025, estimated)

The institutional investor share in Transurban Group typically stands at around 60%. This reflects the confidence of major financial institutions in the company's long-term stability and profitability.

In 2025, there were no significant insider purchases or sales, indicating a stable trust of the management in the current corporate strategy and performance. Such transactions are often seen as an indicator of management's assessment of future developments.

Market share of Transurban Group (ASX:TCL): Estimate 30% (2025)

Main competitors and their market shares:

1. Vinci SA: 25%
2. Ferrovial: 15%
3. Abertis Infraestructuras: 10%
4. Macquarie Infrastructure and Real Assets (MIRA): 8%
5. Globalvia: 5%

Transurban Group is one of the leading operators of toll roads and holds a significant market share of about 30%. This is mainly due to their strong presence in Australia and North America. Their moat consists mainly of long-term concessions, strong operational efficiency, and a solid financial base.

Compared to their competitors, Transurban has the advantage of operating in stable markets and having a well-diversified infrastructure. Vinci SA and Ferrovial are also strong competitors with significant market shares, especially in Europe. These companies also have deep moats due to their global presence and diversified infrastructure projects.

Overall, Transurban has a significant moat supported by their strategic positioning and long-term contracts. However, competitors are also strongly positioned, intensifying the competition.

Revenue growth: 8.2% (2024) EBITDA margin: 75% (2024) Traffic growth: 4.5% (2024)

The Transurban Group recorded a revenue growth of 8.2% in 2024, attributed to a recovery in traffic volume and the opening of new infrastructure projects. The EBITDA margin of 75% demonstrates strong operational efficiency, supported by long-term toll contracts and effective cost control.

The traffic growth of 4.5% in 2024 indicates that the demand for Transurban's services remains stable, favored by urbanization and the expansion of urban infrastructure. These factors suggest a solid foundation for future growth.

Additionally, Transurban has invested in innovative technologies in recent years to optimize traffic flow and enhance customer experience, which could lead to a stronger market position in the long term. Given these positive operational metrics and strategic initiatives, the stock could present an attractive investment opportunity, especially for investors interested in long-term growth.

Dividend yield: 4.5% (2025)
Dividend history: Continuous payout over the last 5 years

The Transurban Group is known for its reliable dividend policy. In 2025, the dividend yield is around 4.5%, which is competitive compared to other companies in the infrastructure sector.

Over the past five years, Transurban has consistently distributed dividends, indicating a stable financial foundation and a well-functioning business model. The regular payouts are a sign of the company's ability to generate sustainable returns and pass them on to shareholders.

Therefore, investors can rely with a certain level of confidence on Transurban's dividends, provided that no unforeseen economic or company-specific challenges arise.