Are TCL shares or FMG shares better value in 2026?

Group 1: Transurban Group (TCL) - Transurban specializes in managing and developing urban toll road networks across Australia, Canada, and the United States, holding interests in 22 urban motorways including CityLink in Melbourne and the Hills M2 in Sydney [1][2] - For FY24, Transurban reported a debt/equity ratio of 175.1%, indicating high leverage with more debt than equity, which increases risk [6] - The company has delivered an average dividend yield of 3.6% per year over the last 5 years, which is significant for income-focused investors [6] - In FY24, Transurban reported a return on equity (ROE) of 3.0%, which is below the expected benchmark of over 10% for mature businesses [7] Group 2: Fortescue Ltd (FMG) - Fortescue Ltd is a leading iron ore production and exploration company, primarily focused on iron ore production with over 190 million tonnes shipped annually [3] - The company is expanding its exploration efforts across multiple countries, targeting key materials such as copper, rare earths, and lithium, aligning with the global shift to renewable energy [4] - For FY24, Fortescue reported a debt/equity ratio of 27.6%, indicating a stronger equity position compared to debt [7] - Since 2019, Fortescue has achieved an average dividend yield of 10.5% per year and reported an ROE of 30.2% in FY24, reflecting strong profitability [7]