Want to see GB:TRN full AI Analyst Report?
Top Page
Trainline
(LSE:TRN)
Select Model
Select Model
Rating:69Neutral
Price Target:
247.00 p
▲(23.56% 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
Profitability recovery and operating leverage
The sharp improvement in operating and net profitability indicates that Trainline is converting platform scale into stronger earnings. Sustained operating leverage can support reinvestment, strengthen resilience, and improve the company’s ability to fund growth from internally generated profits over the next several quarters.
Negative Factors
Higher leverage and reduced financial flexibility
The substantial increase in leverage raises financial risk and reduces the flexibility available for investment, acquisitions, or shareholder distributions. Higher debt exposure also makes earnings and cash flow more sensitive to any deterioration in growth or margins over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability recovery and operating leverage
The sharp improvement in operating and net profitability indicates that Trainline is converting platform scale into stronger earnings. Sustained operating leverage can support reinvestment, strengthen resilience, and improve the company’s ability to fund growth from internally generated profits over the next several quarters.
Read all positive factors
Trainline (TRN) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£690.23M
Dividend YieldN/A
Average Volume (3M)1.69M
Price to Earnings (P/E)10.3
Beta (1Y)0.58
Revenue Growth2.40%
EPS Growth48.36%
CountryUK
Employees990
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Services
Share Statistics
EPS (TTM)0.20
Shares Outstanding344,569,950
10 Day Avg. Volume1,240,681
30 Day Avg. Volume1,691,509
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
£281.33Price Target Upside40.74% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)0.25
Revenue Forecast (FY)£447.93M
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 on ticket sales transacted through its platforms and by providing technology and distribution services to carriers. Its key revenue streams include: (1) Consumer ticketing fees/commissions: when a cu...
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
201.28
Positive
214.51
Negative
214.52
Negative
Market Momentum
3.12
Positive
47.19
Neutral
27.65
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 209.15, below the 50-day MA of 201.28, and below the 200-day MA of 214.52, indicating a neutral trend. The MACD of 3.12 indicates Positive momentum. The RSI at 47.19 is Neutral, neither overbought nor oversold. The STOCH value of 27.65 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | £2.48B | 6.57 | 19.92% | 1.21% | 4.30% | -4.51% | |
69 Neutral | £690.23M | 10.34 | 35.11% | ― | 2.40% | 48.36% | |
64 Neutral | £104.04M | 19.45 | 8.85% | 2.48% | 11.27% | -13.59% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | £230.34M | 84.14 | 2.40% | 0.59% | -1.97% | -77.68% | |
58 Neutral | £1.36B | -49.95 | -65.76% | 2.41% | 4.58% | -24.15% | |
45 Neutral | £639.35M | -4.17 | -90.46% | 4.07% | -30.52% | -2064.92% |
* Consumer Cyclical Sector Average
GB:TRN
Trainline
205.20
-48.60
-19.15%
GB:JET2
Jet2 PLC
1,393.00
88.61
6.79%
GB:HSW
Hostelworld
84.00
-38.71
-31.55%
GB:OTB
On The Beach
170.80
-41.23
-19.45%
GB:SSPG
SSP Group plc
182.30
31.86
21.17%
GB:SMWH
WH Smith
425.20
-249.82
-37.01%
Trainline Corporate Events
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Cuts Share Count as Buyback Programme Advances
Positive
Oct 19, 2026
Trainline plc has continued to execute its £100 million share buyback programme, purchasing 238,454 ordinary shares between 12 and 16 October 2026 on the London Stock Exchange and multilateral trading facilities through Morgan Stanley. The sh...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Tightens Capital Base With Ongoing Share Buyback Programme
Positive
Oct 13, 2026
Trainline plc has continued executing its £100 million share purchase programme, buying back 203,604 ordinary shares between 5 and 9 October 2026 on the London Stock Exchange and multilateral trading venues. These transactions were carried ou...
Business Operations and StrategyRegulatory Filings and Compliance
Trainline urges stronger safeguards in UK rail retail draft code
Positive
Oct 9, 2026
Trainline has welcomed the Office of Rail and Road’s draft Retail Code of Practice for consultation as a significant milestone in creating a regulatory framework for how Great British Railways interacts with all retail market participants. T...
Business Operations and StrategyStock Buyback
Trainline Presses Ahead with Share Buyback, Cutting Share Count
Positive
Oct 5, 2026
Trainline plc has continued executing its £100 million share buyback programme, repurchasing 256,? actually 255? roughly 256k ordinary shares between 28 September and 2 October 2026 on the London Stock Exchange and other trading venues throug...
Regulatory Filings and Compliance
Trainline updates total voting rights and share capital figure
Neutral
Oct 1, 2026
Trainline has confirmed that its share capital as of 30 September 2026 comprises 345,320,253 ordinary shares of one pence each, with every share carrying one vote at general meetings and no shares held in treasury. This updated total voting rights...
Business Operations and StrategyStock Buyback
Trainline Advances £100m Buyback, Cuts Share Count to 345.5m
Positive
Sep 28, 2026
Trainline has continued executing its £100 million share repurchase programme, buying 1,003,830 ordinary shares between 21 and 25 September 2026 on the London Stock Exchange and multilateral trading facilities via Morgan Stanley. The purchase...
Stock Buyback
Trainline cancels latest tranche of share buybacks, trims share count
Positive
Sep 22, 2026
Trainline has repurchased 838,530 ordinary shares on the London Stock Exchange and multilateral trading facilities between 14 and 18 September 2026 under its £150 million and £100 million buyback programmes, with the latest 838,530 share...
Business Operations and StrategyStock Buyback
Trainline Nears Completion of £150m Share Buyback, Cuts Share Count
Positive
Sep 15, 2026
Trainline plc has continued its £150 million share buyback programme, repurchasing and cancelling 637,385 ordinary shares between 7 and 11 September 2026 on the London Stock Exchange and multilateral trading facilities. These latest purchases...
Business Operations and StrategyStock BuybackFinancial DisclosuresLegal ProceedingsRegulatory Filings and Compliance
Trainline posts resilient half-year, confirms outlook and launches new £100m buyback
Positive
Sep 11, 2026
Trainline reported a robust first half for FY2027, with group net ticket sales broadly flat year-on-year at £3.3 billion and underlying revenue down 1% to £233 million. UK Consumer ticket sales were stable at £2.1 billion despite a ...
Business Operations and StrategyStock Buyback
Trainline launches new £100 million share buyback programme
Positive
Sep 11, 2026
Trainline plc has launched a new share repurchase programme of up to £100 million in ordinary shares over the next 12 months, following the expected completion of its existing £150 million buyback announced in 2025. The move aligns with ...
Business Operations and StrategyStock Buyback
Trainline nears completion of £150m share buyback, cutting share count
Positive
Sep 7, 2026
Trainline plc has continued to execute its £150 million share buyback programme, repurchasing 515,416 ordinary shares between 1 and 4 September 2026 on the London Stock Exchange and multilateral trading facilities via Morgan Stanley. The shar...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline nears completion of £150m buyback as share count falls
Positive
Sep 2, 2026
Trainline has continued executing its £150 million share buyback programme, repurchasing and cancelling 630,293 ordinary shares between 24 and 28 August 2026 at volume‑weighted average prices around 196–202 pence. The company has ...
Regulatory Filings and Compliance
Trainline Confirms Total Voting Rights and Free-Float Share Capital
Neutral
Sep 1, 2026
Trainline has confirmed that as of 31 August 2026 its share capital comprises 348,470,268 ordinary shares of one pence each, with every share carrying one vote at general meetings. The company holds no shares in treasury, meaning the entire issued...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Trainline Nears Completion of £150m Buyback as Share Count Falls
Positive
Aug 24, 2026
Trainline has continued executing its £150 million share buyback programme, repurchasing 587,611 ordinary shares between 17 and 21 August 2026 on the London Stock Exchange and multilateral trading facilities via Morgan Stanley. The company st...
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...
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.