Abstract: As a typical public transportation infrastructure, the external power supply project for electrified railways is characterized by "high reliability requirements" and "low load utilization," commonly facing challenges such as large investment scales, limited power generation benefits, and poor financial performance. Based on the differences in transportation nature and power supply methods between passenger and freight stations, this paper systematically analyzes the performance levels and causes of key financial indicators for both types of projects. Building on this, it conducts break-even research and proposes investment optimization strategies for electrified railway external power supply projects, aiming to provide decision-making references for improving investment efficiency and financial sustainability in such projects.