Trainline Plc (GB:TRN)
LSE:TRN
Want to see GB:TRN full AI Analyst Report?
Top Page
Trainline
(LSE:TRN)
Select Model
Select Model
Rating:71Outperform
Price Target:
247.00 p
â–²(20.72% Upside)
Action:Upgraded
Date:05/09/26
The score is driven primarily by strong financial performance (high profitability and solid cash generation) and an attractive P/E valuation. These positives are tempered by increased balance-sheet leverage in 2026 and a mixed technical picture with neutral momentum and the stock below key moving averages (20-day and 200-day).
Positive Factors
High profitability and margins
Trainline's materially improved margins reflect a multi-year profitability recovery and stronger operating leverage. Sustained high gross and EBIT margins provide durable cash generation capacity, support reinvestment or shareholder returns, and signal structural cost efficiency in its digital retailing model.
Negative Factors
Rising leverage
A near doubling of leverage materially reduces financial flexibility and raises refinancing and covenant risk if growth or margins deteriorate. Higher net debt increases interest exposure and can constrain strategic spending or return-of-capital choices over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Trainline's materially improved margins reflect a multi-year profitability recovery and stronger operating leverage. Sustained high gross and EBIT margins provide durable cash generation capacity, support reinvestment or shareholder returns, and signal structural cost efficiency in its digital retailing model.
Read all positive factors
Trainline (TRN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£791.39M
Dividend YieldN/A
Average Volume (3M)2.16M
Price to Earnings (P/E)6.2
Beta (1Y)0.78
Revenue Growth2.40%
EPS Growth48.36%
CountryUK
Employees1,000
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Services
Share Statistics
EPS (TTM)0.20
Shares Outstanding369,895,900
10 Day Avg. Volume2,673,444
30 Day Avg. Volume2,161,116
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)3.93
Price to Sales (P/S)1.77
P/FCF Ratio7.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£329.33Price Target Upside60.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.24
Revenue Forecast (FY)£447.51M
Trainline Business Overview & Revenue Model
Company Description
Trainline Plc operates an independent rail and coach travel platform that sells rail and coach tickets worldwide. The company operates through three segments: UK Consumer, UK Trainline Partner Solutions, and International. The UK Consumer segment ...
How the Company Makes Money
Trainline primarily makes money by earning fees and commissions on tickets sold through its platforms. When a customer books a rail or coach journey via Trainline’s apps or websites, Trainline typically receives a share of the fare (commission) an...
Trainline Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
66
Positive
Cash Flow
73
Positive
| Breakdown | Feb 2025 | Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 452.68M | 442.10M | 396.72M | 327.15M | 188.51M |
| Gross Profit | 333.06M | 352.31M | 305.29M | 211.06M | 110.22M |
| EBITDA | 163.24M | 132.16M | 98.15M | 68.81M | 35.29M |
| Net Income | 79.81M | 58.35M | 33.99M | 21.22M | -11.90M |
Balance Sheet | |||||
| Total Assets | 699.65M | 660.25M | 681.93M | 653.17M | 643.00M |
| Cash, Cash Equivalents and Short-Term Investments | 59.70M | 76.76M | 91.08M | 57.34M | 68.50M |
| Total Debt | 261.95M | 158.58M | 153.11M | 153.54M | 153.49M |
| Total Liabilities | 495.29M | 377.51M | 369.92M | 362.53M | 383.51M |
| Stockholders Equity | 204.37M | 282.75M | 312.02M | 290.64M | 259.49M |
Cash Flow | |||||
| Free Cash Flow | 108.20M | 95.89M | 81.85M | -2.02M | 165.16M |
| Operating Cash Flow | 125.04M | 138.20M | 121.73M | 33.20M | 194.50M |
| Investing Cash Flow | -53.70M | -42.67M | -40.75M | -35.22M | -29.34M |
| Financing Cash Flow | -89.22M | -109.08M | -45.57M | -9.33M | -132.40M |
Trainline Technical Analysis
Neutral
204.60
Price Trends
222.99
Negative
214.06
Positive
236.00
Negative
Market Momentum
-4.74
Positive
45.82
Neutral
45.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TRN, the sentiment is Neutral. The current price of 204.6 is below the 20-day moving average (MA) of 226.16, below the 50-day MA of 222.99, and below the 200-day MA of 236.00, indicating a bearish trend. The MACD of -4.74 indicates Positive momentum. The RSI at 45.82 is Neutral, neither overbought nor oversold. The STOCH value of 45.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:TRN.
Trainline Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | £1.99B | 1.18 | 24.73% | 1.18% | 7.17% | -2.22% | |
71 Outperform | £791.39M | 6.22 | 35.11% | ― | 2.40% | 48.36% | |
64 Neutral | £204.61M | -25.69 | 2.40% | 1.39% | -1.97% | -77.68% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | £135.62M | 7.55 | 9.72% | 0.60% | 3.16% | -21.30% | |
50 Neutral | £1.25B | -21.38 | -65.76% | 2.50% | 4.58% | -24.15% | |
44 Neutral | £625.91M | -7.96 | -90.46% | 4.48% | -30.52% | -2064.92% |
* Consumer Cyclical Sector Average
GB:TRN
Trainline
217.60
-55.40
-20.29%
GB:JET2
Jet2 PLC
1,121.00
-629.28
-35.95%
GB:HSW
Hostelworld
109.00
-8.80
-7.47%
GB:OTB
On The Beach
139.00
-113.01
-44.84%
GB:SSPG
SSP Group plc
164.20
1.96
1.21%
GB:SMWH
WH Smith
495.40
-511.95
-50.82%
Trainline Corporate Events
Executive/Board ChangesRegulatory Filings and Compliance
Trainline awards performance and deferred share incentives to top executives
Positive
May 7, 2026
Trainline has granted new share-based awards to its top executives under its Performance Share Plan and Deferred Share Bonus Plan, aligning leadership incentives with future company performance. Chief financial officer Peter Wood received a condit...
Business Operations and StrategyStock BuybackFinancial Disclosures
Trainline lifts profits on record ticket sales and AI-driven rail push
Positive
May 6, 2026
Trainline reported record net ticket sales of £6.3 billion for the year to 28 February 2026, up 7% year on year, with revenue rising 2% to £453 million and adjusted EBITDA increasing 11% to £177 million as cost discipline offset a c...
Business Operations and StrategyStock Buyback
Trainline Cancels Further Shares as £150m Buyback Nears £95m Mark
Positive
May 5, 2026
Trainline plc has continued executing its £150 million share purchase programme, buying 523,358 ordinary shares between 27 April and 1 May 2026 on the London Stock Exchange and multilateral trading facilities. The shares, acquired at volume&#...
Regulatory Filings and Compliance
Trainline Confirms Total Voting Rights Following Share Capital Update
Neutral
May 1, 2026
Trainline has confirmed that as of 30 April 2026 its issued share capital comprises 372,411,815 ordinary shares, each carrying one vote and with no shares held in treasury. This updated total voting rights figure provides the reference denominator...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline advances £150m buyback as share count drops to 372.8m
Positive
Apr 28, 2026
Trainline has continued executing its £150 million share buyback, repurchasing just over 504,000 ordinary shares between 20 and 24 April 2026 on the London Stock Exchange and multilateral trading facilities through Morgan Stanley. The latest ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cancels Further Shares as £150m Buyback Passes £92m Mark
Positive
Apr 21, 2026
Trainline has continued executing its £150 million share buyback programme, repurchasing 521,540 ordinary shares between 13 and 17 April 2026 on the London Stock Exchange and multilateral trading facilities via Morgan Stanley. The purchased s...
Stock Buyback
Trainline Cancels New Tranche of Buyback Shares, Shrinking Share Count
Positive
Apr 13, 2026
Trainline plc, the independent rail and coach ticketing platform, leverages its website and mobile app to aggregate millions of routes, fares and journey times across European carriers, allowing travellers to manage end‑to‑end journeys...
Business Operations and StrategyStock BuybackFinancial Disclosures
Trainline Advances £150m Buyback With Fresh Share Cancellations
Positive
Apr 8, 2026
Trainline has continued executing its £150 million share buyback, repurchasing 827,630 ordinary shares between 30 March and 2 April 2026 on the London Stock Exchange and multilateral trading facilities via Morgan Stanley. The shares, bought a...
Regulatory Filings and Compliance
Trainline Confirms Total Voting Rights and Share Capital
Neutral
Apr 1, 2026
Trainline has confirmed that as of 31 March 2026 its issued share capital comprises 374,732,320 ordinary shares of one pence each, with each share carrying one vote at general meetings. The company holds no shares in treasury, meaning the full iss...
Business Operations and StrategyStock Buyback
Trainline Cancels Another Tranche of Shares Under £150m Buyback
Positive
Mar 30, 2026
Trainline has continued executing its £150 million share buyback programme, repurchasing 1,176,844 ordinary shares between 23 and 27 March 2026 on the London Stock Exchange and multilateral trading facilities through Morgan Stanley. The share...
Regulatory Filings and Compliance
Trainline CEO Jody Ford Increases Stake With Share Purchase
Positive
Mar 30, 2026
Trainline PLC, the London-listed rail and coach ticketing platform, disclosed that its chief executive officer Jody Ford has purchased ordinary shares in the company on the London Stock Exchange. The transaction, carried out on 27 March 2026, invo...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cancels Further Shares as Buyback Programme Tops £85 Million
Positive
Mar 24, 2026
Trainline has continued executing its £150 million share buyback programme, repurchasing 1,715,568 ordinary shares between 16 and 20 March 2026 on the London Stock Exchange and multilateral trading facilities via Morgan Stanley. The company w...
Business Operations and StrategyStock Buyback
Trainline Advances £150m Buyback, Shrinks Share Count to 378m
Positive
Mar 17, 2026
Trainline has continued executing its £150 million share buyback programme, repurchasing around 3.9 million ordinary shares on the London Stock Exchange and multilateral trading facilities between 9 and 13 March 2026. The latest tranche, carr...
Business Operations and StrategyStock BuybackFinancial Disclosures
Trainline Posts Solid FY2026 Growth as B2B and Europe Offset U.K. Commission Hit
Positive
Mar 12, 2026
Trainline reported full-year 2026 trading broadly in line with upgraded guidance, with group net ticket sales rising 7% to £6.3 billion and revenue up 2% to £453 million, driven by solid leisure and commuter demand, ancillary product gro...
Business Operations and StrategyStock Buyback
Trainline Cancels 650,000 Shares and Switches Broker in Ongoing Buyback
Neutral
Mar 9, 2026
Trainline has repurchased 650,000 ordinary shares on 6 March 2026 under its ongoing buyback programme at a volume‑weighted average price of 194.21p, and the shares will be cancelled, reducing the number of shares in issue to 381,890,256. The...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline cancels 650,000 shares and switches broker in ongoing buyback
Positive
Mar 9, 2026
Trainline has repurchased 650,000 ordinary shares on 6 March 2026 at a volume-weighted average price of 194.21p, with the shares to be cancelled, reducing the number of shares in issue to 381,890,256. This move forms part of an ongoing share buyba...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cancels 700,000 Shares in Ongoing Buyback Programme
Positive
Mar 6, 2026
Trainline has repurchased 700,000 ordinary shares on the London Stock Exchange and multilateral trading facilities as part of its ongoing share buyback programme authorised by shareholders in January 2026. The shares, bought at a volume‑weig...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cancels Nearly 800,000 Shares in Ongoing Buyback Programme
Positive
Mar 5, 2026
Trainline has continued its previously announced share buyback programme by repurchasing 796,955 ordinary shares on 4 March 2026 via Deutsche Numis, at prices between 186.00p and 189.10p and a volume-weighted average price of 187.57p per share. Th...
Business Operations and StrategyStock Buyback
Trainline Cancels 582,542 Shares in Ongoing Buyback Programme
Positive
Mar 4, 2026
Trainline has executed a further tranche of its ongoing share buyback, repurchasing 582,542 ordinary shares on 3 March at a volume‑weighted average price of 184.51 pence. The company said all repurchased shares will be cancelled, reducing th...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cancels 790,000 Shares in Latest Buyback Tranche
Positive
Mar 3, 2026
Trainline has executed a further tranche of its ongoing share buyback, repurchasing 790,000 ordinary shares on 2 March 2026 through Deutsche Bank’s Deutsche Numis arm at a volume‑weighted average price of 189.19 pence. The acquired sha...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cancels 650,000 Shares in Ongoing Buyback Programme
Positive
Mar 2, 2026
Trainline has executed a further tranche of its share buyback programme, repurchasing 650,000 ordinary shares on 27 February 2026 via Deutsche Numis at a volume‑weighted average price of 195.19p. The company will cancel the repurchased share...
Regulatory Filings and Compliance
Trainline Confirms Updated Share Capital and Voting Rights
Neutral
Mar 2, 2026
Trainline has confirmed that its issued share capital at 28 February 2026 stands at 385,409,753 ordinary shares, each carrying one vote and with no shares held in treasury. This figure will serve as the key denominator for investors and other inte...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cancels New Tranche of Shares After Latest Buyback
Positive
Feb 27, 2026
Trainline has executed a further tranche of its previously announced share purchase programme, buying 629,921 ordinary shares on 26 February 2026 via Deutsche Bank’s Deutsche Numis arm at a volume-weighted average price of 191.22p. The compa...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cancels 710,000 Shares in Ongoing Buyback Programme
Positive
Feb 26, 2026
Trainline has repurchased 710,000 ordinary shares on the London Stock Exchange and multilateral trading facilities as part of its ongoing share buyback programme. The company paid a volume-weighted average price of 189.80p per share, with prices r...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cancels 480,000 Shares in Ongoing Buyback Programme
Positive
Feb 25, 2026
Trainline has executed a share buyback transaction, repurchasing 480,000 ordinary shares on 24 February 2026 at a volume-weighted average price of 204.39p per share. The repurchased shares will be cancelled, reducing the company’s share coun...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Trainline CEO Jody Ford to Step Down as Board Reaffirms Growth Outlook
Positive
Feb 25, 2026
Trainline has announced that Chief Executive Officer Jody Ford intends to step down after more than six years at the company, though he will remain in post to oversee a transition while the board runs a formal search for his successor. Chair Brian...
Stock Buyback
Trainline Cancels 450,000 Shares in Ongoing Buyback Programme
Positive
Feb 24, 2026
Trainline plc, a leading independent digital rail and coach ticketing platform, aggregates routes, fares and schedules from multiple European carriers to serve millions of travellers through its website and mobile app. Its core business focuses on...
Business Operations and StrategyStock Buyback
Trainline Cancels 290,000 Shares in Latest Buyback Move
Positive
Feb 23, 2026
Trainline has repurchased 290,000 of its ordinary shares on the London Stock Exchange and multilateral trading facilities under its ongoing share buyback programme, paying a volume‑weighted average price of 203.91p per share. The company wil...
Stock BuybackRegulatory Filings and Compliance
Trainline Buys Back 395,000 Shares for Cancellation, Trimming Share Count
Positive
Feb 20, 2026
Trainline has continued executing its previously announced share purchase programme, buying 395,000 ordinary shares on 19 February 2026 through Deutsche Numis at a volume-weighted average price of 201.50p. The repurchased shares will be cancelled,...
Stock Buyback
Trainline Cancels 392,586 Shares After Latest Buyback
Positive
Feb 19, 2026
Trainline has repurchased 392,586 ordinary shares on 18 February 2026 under its ongoing share buyback programme, paying a volume‑weighted average price of 198.14p per share, with prices ranging from 196.30p to 200.00p. The company will cance...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cancels 375,000 Shares in Ongoing Buyback Programme
Positive
Feb 18, 2026
Trainline has repurchased 375,000 of its ordinary shares on the London Stock Exchange and multilateral trading facilities as part of the share buyback programme launched in September 2025. The shares, acquired from Deutsche Bank’s Deutsche N...
Business Operations and StrategyStock Buyback
Trainline Cancels 445,000 Shares in Ongoing Buyback Programme
Positive
Feb 17, 2026
Trainline has executed a further tranche of its ongoing share buyback programme, repurchasing 445,000 ordinary shares on 16 February 2026 at a volume-weighted average price of 196.60 pence. The transaction, carried out via Deutsche Numis under pre...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cancels 495,000 Shares After Latest Buyback Move
Positive
Feb 16, 2026
Trainline has repurchased 495,000 of its ordinary shares on 13 February 2026 via Deutsche Numis under its previously announced share buyback programme, paying a volume‑weighted average price of 198.03p per share. The company will cancel the ...
Business Operations and StrategyStock Buyback
Trainline Cancels 355,000 Shares in Ongoing Buyback Programme
Positive
Feb 13, 2026
Trainline has executed another tranche of its previously announced share purchase programme, buying 355,000 ordinary shares on 12 February 2026 via Deutsche Numis at a volume-weighted average price of 202.05p. The company will cancel the repurchas...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cancels 400,000 Shares in Ongoing Buyback Programme
Positive
Feb 12, 2026
Trainline has continued executing its previously announced share buyback programme, repurchasing 400,000 ordinary shares on 11 February 2026 via Deutsche Numis at a volume‑weighted average price of 201.83p. The purchased shares will be cance...
Stock BuybackRegulatory Filings and Compliance
Trainline Cancels 325,000 Shares After Latest Buyback Transaction
Positive
Feb 11, 2026
Trainline has repurchased 325,000 of its ordinary shares on the London Stock Exchange and multilateral trading facilities under its ongoing share buyback programme, paying a volume‑weighted average price of 203.70p per share. The company wil...
Stock Buyback
Trainline Cancels 360,000 Shares After Latest Buyback Tranche
Neutral
Feb 10, 2026
Trainline plc, a major digital platform for rail and coach travel across Europe, offers customers a unified interface to search, book and manage journeys via its website and mobile application. By consolidating millions of routes and fares from mu...
Business Operations and StrategyStock Buyback
Trainline Cancels 335,000 Shares in Ongoing Buyback Programme
Positive
Feb 9, 2026
Trainline has repurchased 335,000 ordinary shares on the London Stock Exchange and multilateral trading facilities under its ongoing share buyback programme, paying a volume-weighted average price of 201.76p per share. The shares, acquired from De...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.