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STOCK COMPARISON

Highway Infrastructure vs Transurban: Fair Value & Quality

Both stocks run through our valuation models. Here is how Highway Infrastructure (HILINFRA) and Transurban (TCL) compare, as of Oct 1, 2026.

As of Oct 1, 2026, Fair Value Calculator sees Highway Infrastructure as the less overvalued of the two: Highway Infrastructure trades at ₹42.75 versus a fair value of ₹32.57 (−23.8%), while Transurban trades at A$13.24 versus A$4.92 (−62.8%).
Highway Infrastructure
HILINFRA.NSE · INR · Industrials
−23.8%
upside to fair value
overvalued
Price₹42.75
Fair Value₹32.57
Quality46/100
Transurban
TCL.AU · AUD · Industrials
−62.8%
upside to fair value
overvalued
PriceA$13.24
Fair ValueA$4.92
Quality57/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Highway InfrastructureTransurban
Valuation
8.9×P/E (TTM)112.9×
n/aForward P/E (FY2028)70.6×
n/aMedian P/E at FY-end (8 FY, ex one-offs where documented)171.6×
0.53×P/S (TTM)10.61×
1.47×P/B5.35× · book value is mostly goodwill
7.3×EV/EBITDA25.3×
n/aPEG1.52×
−23.8%Fair value upside−62.8%
n/aDividend yield5.2%
n/aDividend per shareA$0.69
Profitability
4.7%Operating margin24.3%
0.93×EBIT margin trend (5Y)1.70×
18.4%Return on equity5.0%
8.9%Return on assets2.1%
Growth
107.9%Revenue growth (YoY)-9.8%
10.1%Avg. growth/yr (3Y)-2.5%
n/aAvg. growth/yr (5Y)5.9%
+11.2%Value creation/yr+19.8%
Balance & size
3.7×Interest coverage (EBIT/interest)1.2×
0.07×Debt / equity2.51×
$35MMarket cap$29B
expensiveGrowth qualityweak
Transurban, median P/E at fiscal year-end, 8 fiscal years (2017 to 2026), reported earnings, FY2026 ex one-offs: 171.6.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Highway Infrastructure leads: 9 to 3 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Highway Infrastructureof which business quality 45 · market factors 27 Transurbanof which business quality 53 · market factors 52
ProfitabilityMargins and returns on capital today
52
21
Quality GrowthAre margins and returns improving?
34
39
CashflowEarnings quality: real cash, not paper profit
0
99
Fin. StrengthBalance sheet, leverage, solvency risk
61
10
InvestmentDisciplined investing over empire-building
33
97
Low VolatilityCalm price path (market factor)
56
99
MomentumPrice trend over the last 3–12 months (market factor)
22
38
52W MomentumDistance to the 52-week high (market factor)
2
23
Net IssuanceShare count: buybacks or dilution?
100
77

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyHighway InfrastructurePrice ₹42.75TransurbanPrice A$13.24
DCF Models+160.0%above the price₹111−50.6%below the priceA$6.55
Earnings-Based+64.5%above the price₹70.32−87.6%below the priceA$1.64
Dividend Discountn/a−17.6%below the priceA$10.91
Multiples+54.0%above the price₹65.82−85.0%below the priceA$1.99
Asset-Based−50.1%below the price₹21.32−87.5%below the priceA$1.66
Growth DCFn/a−37.5%below the priceA$8.28
Economic Profit−33.5%below the price₹28.44−85.3%below the priceA$1.94
Growth Earnings+143.8%above the price₹104−81.6%below the priceA$2.44
Minimum−50.1%below the price₹21.32−87.6%below the priceA$1.64
Maximum+160.0%above the price₹111−17.6%below the priceA$10.91
Median+59.2%above the price₹68.07−83.3%below the priceA$2.22
Geometric mean+32.1%above the price₹56.49−74.8%below the priceA$3.33

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Highway Infrastructure: 5 of 15 models see the stock below the current price.

Transurban: 21 of 23 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Highway Infrastructure
Price ₹42.75
Fair Value ₹32.57
Bear ₹18.36Bull ₹55.14
Transurban
Price A$13.24
Fair Value A$4.92
Bear A$3.94Bull A$6.34

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Highway Infrastructure · Industrials

Quality score46 · below median
Fair value upside−23.8% · below median

Transurban · Industrials

Quality score57 · above median
Fair value upside−62.8% · bottom 25%

Bottom line

As of Oct 1, 2026, Fair Value Calculator sees Highway Infrastructure as the less overvalued of the two: Highway Infrastructure trades at ₹42.75 versus a fair value of ₹32.57 (−23.8%), while Transurban trades at A$13.24 versus A$4.92 (−62.8%).

Transurban has the higher quality score (57/100).

Open Highway Infrastructure live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.