Alstom SA

ALO: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€29.10	Kxpymm	Nkxzrpzd

Alstom’s Narrow Moat Remains Intact; Lowering Our Fair Value Estimate, Shares Look Cheap

Loredana Muharremi

Oct 20, 2023

Business Strategy and Outlook

Alstom offers a comprehensive portfolio, including rolling stock (53% of revenue), services (23%), and signaling and systems (24%), setting it apart from competitors. With developments in rail infrastructure in emerging countries, advances in eco-friendly transit, and automation in railways, Alstom's growth potential is significant.

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