| 1 | Jiangsu Bide Science and Technology Co.,Ltd. (605298.SS) | 9/10 | 58.1x |
| 2 | Beijing-Shanghai High-Speed Railway Co., Ltd. (601816.SS) | 9/10 | 11.5x |
| 3 | Guangshen Railway Company Limited (0525.HK) | 9/10 | 5.0x |
| 4 | Kwoon Chung Bus Holdings Limited (0306.HK) | 9/10 | 2.6x |
| 5 | Trinity Industries Inc (TRN) | 8/10 | n.d. |
| 6 | Gür-Sel Turizm Tasimacilik ve Servis Ticaret A.S. (GRSEL.IS) | 8/10 | 25.0x |
| 7 | L B Foster Co (FSTR) | 8/10 | 10.2x |
| 8 | KTK Group Co., Ltd. (603680.SS) | 8/10 | 13.1x |
| 9 | Guangshen Railway Company Limited (601333.SS) | 8/10 | 7.9x |
| 10 | Shanghai Shentong Metro Co.,Ltd. (600834.SS) | 8/10 | 10.3x |
| 11 | Beijing Jiaoda Signal Technology Co., Ltd. (300851.SZ) | 8/10 | n.d. |
| 12 | Taiwan High Speed Rail Corporation (2633.TW) | 8/10 | 13.5x |
| 13 | Hyundai Rotem Company (064350.KS) | 8/10 | 11.6x |
| 14 | HeNan Splendor Science & Technology Co., Ltd. (002296.SZ) | 8/10 | 22.8x |
| 15 | Vontron Technology Co., Ltd. (000920.SZ) | 8/10 | 21.2x |
| 16 | Westinghouse Air Brake Technologies Corp (WAB) | 7/10 | 29.4x |
| 17 | Texmaco Rail & Engineering Limited (TEXRAIL.NS) | 7/10 | 24.5x |
| 18 | Rumo S.A. (RAIL3.SA) | 7/10 | 24.7x |
| 19 | Jungfraubahn Holding AG (JFN.SW) | 7/10 | 19.8x |
| 20 | Getlink SE (GET.PA) | 7/10 | 16.1x |
| 21 | FirstGroup plc (FGP.L) | 7/10 | 3.0x |
| 22 | ComfortDelGro Corporation Limited (C52.SI) | 7/10 | n.d. |
| 23 | PT Blue Bird Tbk (BIRD.JK) | 7/10 | n.d. |
| 24 | Bangkok Expressway and Metro Public Company Limited (BEM.BK) | 7/10 | n.d. |
| 25 | Hiroshima Electric Railway Co.,Ltd. (9033.T) | 7/10 | n.d. |
| 26 | Central Japan Railway Company (9022.T) | 7/10 | 16.9x |
| 27 | West Japan Railway Company (9021.T) | 7/10 | 3.6x |
| 28 | East Japan Railway Company (9020.T) | 7/10 | n.d. |
| 29 | Zhuzhou CRRC Times Electric Co., Ltd. (688187.SS) | 7/10 | n.d. |
| 30 | Qingdao Victall Railway Co., Ltd. (605001.SS) | 7/10 | n.d. |
| 31 | Nanjing Kangni Mechanical & Electrical Co.,Ltd (603111.SS) | 7/10 | 9.0x |
| 32 | Zhuzhou CRRC Times Electric Co., Ltd. (3898.HK) | 7/10 | n.d. |
| 33 | Chengdu Yunda Technology Co., Ltd. (300440.SZ) | 7/10 | 58.8x |
| 34 | Tianjin Keyvia Electric Co.,Ltd (300407.SZ) | 7/10 | 7.4x |
| 35 | CRRC Corporation Limited (1766.HK) | 7/10 | 8.7x |
| 36 | Hebei Yichen Industrial Group Corporation Limited (1596.HK) | 7/10 | 1.1x |
| 37 | Nanjing Public Utilities Development Co., Ltd. (000421.SZ) | 7/10 | 4.1x |
| 38 | Tureks Turizm Tasimacilik Anonim Sirketi (TUREX.IS) | 6/10 | n.d. |
| 39 | PT Steady Safe Tbk (SAFE.JK) | 6/10 | 9.1x |
| 40 | SMT Scharf AG (S188.DE) | 6/10 | 2.6x |
| 41 | FreightCar America Inc (RAIL) | 6/10 | 16.3x |
| 42 | Compagnie de Chemins de Fer Départementaux Société Anonyme (MLCFD.PA) | 6/10 | n.d. |
| 43 | Mobico Group Plc (MCG.L) | 6/10 | 2.6x |
| 44 | Jupiter Wagons Limited (JWL.NS) | 6/10 | n.d. |
| 45 | The Greenbrier Companies, Inc. (GBX) | 6/10 | n.d. |
| 46 | Frontier Transport Holdings Limited (FTH.JO) | 6/10 | 5.7x |
| 47 | FNM S.p.A. (FNM.MI) | 6/10 | 4.9x |
| 48 | Construcciones y Auxiliar de Ferrocarriles, S.A. (CAF.MC) | 6/10 | 30.2x |
| 49 | BVZ Holding AG (BVZN.SW) | 6/10 | 14.8x |
| 50 | Aurizon Holdings Limited (AZJ.AX) | 6/10 | 8.5x |
| 51 | Kobe Electric Railway Co., Ltd. (9046.T) | 6/10 | n.d. |
| 52 | Tokyo Metro Co., Ltd. (9023.T) | 6/10 | 19.9x |
| 53 | The Kinki Sharyo Co., Ltd. (7122.T) | 6/10 | 1.1x |
| 54 | China Railway Harbin Group of Technology Corporation (688459.SS) | 6/10 | 23.7x |
| 55 | China Railway Signal & Communication Corporation Limited (688009.SS) | 6/10 | n.d. |
| 56 | Zhejiang Tiantai Xianghe Industrial Co.,Ltd. (603500.SS) | 6/10 | 528.8x |
| 57 | CRRC Corporation Limited (601766.SS) | 6/10 | 12.0x |
| 58 | Saudi Public Transport Company (4040.SR) | 6/10 | n.d. |
| 59 | China Railway Signal & Communication Corporation Limited (3969.HK) | 6/10 | n.d. |
| 60 | CRCC High-Tech Equipment Corporation Limited (1786.HK) | 6/10 | 31.6x |