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Trainline
(LSE:TRN)
Select Model
Select Model
Rating:69Neutral
Price Target:
208.00 p
▲(4.05% Upside)
Action:Reiterated
Date:08/21/26
The score is driven mainly by strong profitability and generally solid cash generation, tempered by increased leverage risk. Technicals significantly detract due to a pronounced downtrend and bearish momentum. Valuation is a supportive factor given the low P/E, but it does not fully offset the weak technical setup and higher balance-sheet risk.
Positive Factors
Strong Profitability
The recovery in profitability and stronger operating leverage indicate that Trainline’s platform model can convert scale into earnings. Sustained margins would support reinvestment, resilience and long-term cash generation.
Negative Factors
Higher Leverage
The sharp increase in leverage raises refinancing and balance-sheet risk if travel demand or margins weaken. Higher debt may also constrain investment flexibility and increase the sensitivity of equity returns to operating performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability
The recovery in profitability and stronger operating leverage indicate that Trainline’s platform model can convert scale into earnings. Sustained margins would support reinvestment, resilience and long-term cash generation.
Read all positive factors
Trainline (TRN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£652.98M
Dividend YieldN/A
Average Volume (3M)2.48M
Price to Earnings (P/E)9.7
Beta (1Y)0.60
Revenue Growth2.40%
EPS Growth48.36%
CountryUK
Employees990
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Services
Share Statistics
EPS (TTM)0.20
Shares Outstanding348,470,280
10 Day Avg. Volume2,212,769
30 Day Avg. Volume2,480,477
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
£290.00Price Target Upside45.07% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)0.24
Revenue Forecast (FY)£446.14M
Trainline Business Overview & Revenue Model
Company Description
Trainline Plc operates as a prominent independent digital platform dedicated to facilitating the global sale of rail and coach travel tickets. The company's business activities are organized into three main divisions: UK Consumer, UK Trainline Par...
How the Company Makes Money
Trainline makes money primarily by earning fees and commissions tied to ticket sales processed through its platforms. For consumer ticketing, it generates revenue from retailer commissions and booking fees charged on transactions, with economics l...
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
Negative
199.90
Price Trends
222.88
Negative
224.14
Negative
218.65
Negative
Market Momentum
-11.32
Positive
33.99
Neutral
27.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TRN, the sentiment is Negative. The current price of 199.9 is below the 20-day moving average (MA) of 217.76, below the 50-day MA of 222.88, and below the 200-day MA of 218.65, indicating a bearish trend. The MACD of -11.32 indicates Positive momentum. The RSI at 33.99 is Neutral, neither overbought nor oversold. The STOCH value of 27.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
86 Outperform | £2.79B | 7.24 | 19.92% | 1.10% | 4.30% | -4.51% | |
69 Neutral | £652.98M | 9.67 | 35.11% | ― | 2.40% | 48.36% | |
64 Neutral | £131.29M | 23.90 | 8.85% | 1.95% | 11.27% | -13.59% | |
64 Neutral | £262.54M | 90.54 | 2.40% | 0.54% | -1.97% | -77.68% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | £1.48B | -53.78 | -65.76% | 2.24% | 4.58% | -24.15% | |
45 Neutral | £578.00M | -3.77 | -90.46% | 4.50% | -30.52% | -2064.92% |
* Consumer Cyclical Sector Average
GB:TRN
Trainline
191.90
-76.90
-28.61%
GB:JET2
Jet2 PLC
1,534.00
63.41
4.31%
GB:HSW
Hostelworld
106.00
-7.88
-6.92%
GB:OTB
On The Beach
183.80
-78.18
-29.84%
GB:SSPG
SSP Group plc
196.30
48.88
33.16%
GB:SMWH
WH Smith
384.40
-278.72
-42.03%
Trainline Corporate Events
Legal ProceedingsRegulatory Filings and Compliance
Trainline to Cooperate with CMA Probe into UK Booking Fee Transparency
Negative
Aug 19, 2026
Trainline plc, Europe’s leading independent rail and coach travel platform, sells tickets for millions of journeys via a highly rated website and mobile app. The company aggregates routes, fares and schedules from numerous rail and coach ope...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Nears Completion of £150m Share Buyback as Share Count Falls
Positive
Aug 17, 2026
Trainline plc has continued executing its £150 million share buyback programme, repurchasing and cancelling 991,205 ordinary shares between 10 and 14 August 2026 through Morgan Stanley Co. International. These latest purchases, at volumeR...
Business Operations and StrategyStock Buyback
Trainline Nears Completion of £150m Share Buyback as Share Count Falls
Positive
Aug 10, 2026
Trainline has continued executing its £150 million share purchase programme, buying just over one million shares between 3 and 7 August 2026 on the London Stock Exchange and multilateral trading facilities. The company has now repurchased 64,...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Advances £150m Buyback as Share Count Falls to 351.7m
Positive
Aug 3, 2026
Trainline plc has continued its £150 million share repurchase programme, buying a total of 328,695 ordinary shares between 27 and 31 July 2026 on the London Stock Exchange and Multilateral Trading Facilities through Morgan Stanley. The shares...
Regulatory Filings and Compliance
Trainline Updates Market on Total Voting Rights and Share Capital
Neutral
Aug 3, 2026
Trainline has confirmed that, as of 31 July 2026, its share capital comprises 351,689,505 ordinary shares of one pence each, with every share carrying one vote and no shares held in treasury. The disclosed total voting rights figure provides the o...
Business Operations and StrategyStock Buyback
Trainline Nears Completion of £150m Share Buyback Programme
Positive
Jul 27, 2026
Trainline has continued to execute its £150 million share buyback programme, purchasing more than 1.1 million ordinary shares between 20 and 24 July 2026 on the London Stock Exchange and multilateral trading facilities. The shares, acquired v...
Stock BuybackFinancial Disclosures
Trainline Advances £150m Buyback, Cuts Share Count to 353m
Positive
Jul 20, 2026
Trainline plc has continued to execute its £150 million share purchase programme, buying 1,336,763 ordinary shares between 13 and 17 July 2026 on the London Stock Exchange and multilateral trading facilities through Morgan Stanley. The newly ...
Business Operations and StrategyStock Buyback
Trainline Advances £150m Buyback, Cancels Further 1.7m Shares
Positive
Jul 13, 2026
Trainline plc has continued executing its £150 million share buyback programme, repurchasing around 1.7 million ordinary shares between 6 and 10 July 2026 on the London Stock Exchange and multilateral trading facilities via Morgan Stanley. Th...
Stock BuybackRegulatory Filings and Compliance
Trainline Advances £150m Share Buyback, Cuts Share Count
Positive
Jul 6, 2026
Trainline has continued executing its £150 million share purchase programme, buying around 1.76 million ordinary shares between 29 June and 3 July 2026 on the London Stock Exchange and multilateral trading venues. These shares, acquired throu...
Regulatory Filings and Compliance
Trainline Non-Executive Director Increases Stake with Share Purchase
Positive
Jul 1, 2026
Trainline disclosed that non-executive director Niall McBride has purchased 23,084 ordinary shares of the company at £2.058 per share on 1 July 2026. The transaction, conducted on the London Stock Exchange, was reported in line with UK Market...
Regulatory Filings and Compliance
Trainline Confirms Updated Total Voting Rights and Share Capital
Neutral
Jul 1, 2026
Trainline has confirmed that, as of 30 June 2026, its share capital comprises 357,235,615 ordinary shares of one pence each, with each share carrying one vote and no shares held in treasury. This updated total voting rights figure serves as the re...
Business Operations and StrategyExecutive/Board Changes
Trainline Strengthens Board With Appointment of New Audit and Risk Committee Chair
Positive
Jun 30, 2026
Trainline plc has appointed Niall McBride as Audit and Risk Committee Chair and Independent Non-executive Director, effective 1 July 2026, and he will also join the Nomination and Remuneration Committees. McBride, currently CFO of MONY Group and f...
Business Operations and StrategyStock BuybackFinancial Disclosures
Trainline Advances £150m Buyback, Cuts Share Count to 358m
Positive
Jun 29, 2026
Trainline has continued executing its £150 million share buyback programme, repurchasing around 1.75 million shares on the London Stock Exchange and multilateral trading facilities between 22 and 26 June 2026 through Morgan Stanley. The repur...
Business Operations and StrategyExecutive/Board Changes
Trainline names Ian Brown as new CEO to steer next growth phase
Positive
Jun 24, 2026
Trainline has appointed Ian Brown as its next chief executive, reinforcing its push to scale its digital rail platform across Europe and beyond. Brown, a veteran of Flutter Entertainment, ANS Group and Booking.com, will join the board as an execut...
Business Operations and StrategyStock BuybackFinancial Disclosures
Trainline advances £150m buyback as share count drops to 359.7m
Positive
Jun 22, 2026
Trainline has continued executing its £150 million share buyback programme, repurchasing around 1.7 million ordinary shares between 15 and 19 June 2026 on the London Stock Exchange and multilateral trading facilities through Morgan Stanley. T...
Business Operations and StrategyStock BuybackFinancial DisclosuresShareholder Meetings
Trainline wins strong shareholder backing for all AGM resolutions
Positive
Jun 18, 2026
Trainline shareholders overwhelmingly backed all resolutions at the company’s Annual General Meeting, including approval of the 2025–26 audited accounts, the directors’ remuneration report and amendments to discretionary share pl...
Business Operations and StrategyStock Buyback
Trainline advances £150m buyback as share count drops
Positive
Jun 16, 2026
Trainline has continued executing its £150 million share repurchase programme, buying about 2.1 million ordinary shares between 8 and 12 June 2026 on the London Stock Exchange and multilateral trading facilities through Morgan Stanley. The pu...
Business Operations and StrategyStock Buyback
Trainline Advances £150m Buyback, Cancels Additional Shares
Positive
Jun 8, 2026
Trainline has continued to execute its £150 million share repurchase programme, buying 2.2 million ordinary shares between 1 June and 5 June 2026 on the London Stock Exchange and multilateral trading facilities via Morgan Stanley. The newly r...
Business Operations and StrategyStock BuybackFinancial Disclosures
Trainline Advances £150m Buyback, Cuts Share Count to 365.8m
Positive
Jun 2, 2026
Trainline has continued executing its previously announced £150 million share buyback, repurchasing around 1.8 million ordinary shares between 26 and 29 May 2026 through Morgan Stanley on London markets. The shares, bought at volume-weighted ...
Regulatory Filings and Compliance
Trainline Confirms Total Voting Rights and Share Capital Structure
Neutral
Jun 1, 2026
Trainline has confirmed that as of 31 May 2026 its issued share capital comprises 365,759,354 ordinary shares, each carrying one voting right, with no shares held in treasury. This updated share count provides the official denominator for investor...
Regulatory Filings and Compliance
Trainline Confirms Updated Total Voting Rights
Neutral
Jun 1, 2026
Trainline has confirmed that as of 31 May 2026 its share capital comprises 365,759,354 ordinary shares, each carrying one vote, with no shares held in treasury. This updated total voting rights figure serves as the reference denominator for shareh...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Advances £150m Buyback as Share Count Falls to 367.6m
Positive
May 27, 2026
Trainline has continued its £150 million share buyback programme, repurchasing around 2.33 million ordinary shares between 18 and 22 May 2026 via Morgan Stanley on the London Stock Exchange and multilateral trading facilities. The shares, bou...
Business Operations and StrategyExecutive/Board Changes
Trainline Announces Board and Audit Committee Leadership Change
Neutral
May 22, 2026
Trainline plc announced that non‑executive director Duncan Tatton‑Brown will step down from the board and his role as Audit and Risk Committee chair at the company’s 2026 annual general meeting, ending a seven‑year tenure. ...
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Trainline Publishes FY2026 Annual Report and Sets Date for AGM
Neutral
May 22, 2026
Trainline has published its FY2026 Annual Report and Financial Statements alongside the notice of its 2026 Annual General Meeting, which will be held on 18 June 2026 in London. The documents, including the proxy form, are available on the company&...
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.