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Trainline Valuation Multiples

Discover revenue and EBITDA valuation multiples for Trainline and similar public comparables like EaseMyTrip, Web Travel Group, and Corporate Travel Management.

Trainline Overview

About Trainline

Trainline PLC is an independent rail and coach travel platform selling rail and coach tickets to millions of travellers worldwide, enabling them to seamlessly search, book, and manage their journeys all in one place via its website and mobile app. The company's segment includes UK Consumer; International Consumer and Trainline Solutions. It generates maximum revenue from the UK Consumer segment.


Founded

2019

HQ

United Kingdom of Great Britain and Northern Ireland
Employees

1.0K+

Financials

LTM Revenue $572M

LTM EBITDA $204M

EV

$1.5B

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Trainline Financials

Trainline has a last 12-month revenue of $572M and a last 12-month EBITDA of $204M.

In the most recent fiscal year, Trainline achieved revenue of $511M and an EBITDA of $126M.

Trainline expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Trainline P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $421M $511M XXX XXX XXX
Gross Profit $197M $325M XXX XXX XXX
Gross Margin 47% 64% XXX XXX XXX
EBITDA $94.7M $126M XXX XXX XXX
EBITDA Margin 22% 25% XXX XXX XXX
Net Profit -$15.3M $27.3M XXX XXX XXX
Net Margin -4% 5% XXX XXX XXX
Net Debt $86.8M $105M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Trainline Stock Performance

As of April 15, 2025, Trainline's stock price is GBP 3 (or $4).

Trainline has current market cap of GBP 1.2B (or $1.5B), and EV of GBP 1.2B (or $1.5B).

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Trainline Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.5B $1.5B XXX XXX XXX XXX $0.23

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Trainline Valuation Multiples

As of April 15, 2025, Trainline has market cap of $1.5B and EV of $1.5B.

Trainline's trades at 2.7x LTM EV/Revenue multiple, and 7.5x LTM EBITDA.

Analysts estimate Trainline's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Trainline Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $1.5B XXX XXX XXX
EV/Revenue 2.7x XXX XXX XXX
EV/EBITDA 8.1x XXX XXX XXX
P/E 15.4x XXX XXX XXX
P/E/Growth 1.0x XXX XXX XXX
EV/FCF 11.7x XXX XXX XXX

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Trainline Valuation Multiples

Trainline's NTM/LTM revenue growth is 5%

Trainline's revenue per employee for the last fiscal year averaged $0.5M, while opex per employee averaged $0.3M for the same period.

Over next 12 months, Trainline's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Trainline's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Trainline Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 21% XXX XXX XXX XXX
EBITDA Margin 34% XXX XXX XXX XXX
EBITDA Growth 33% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 38% XXX XXX XXX XXX
Revenue per Employee $0.5M XXX XXX XXX XXX
Opex per Employee $0.3M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 63% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 63% XXX XXX XXX XXX

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Trainline Public Comps

See public comps and valuation multiples for Travel Services and Online Travel comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Corporate Travel Management XXX XXX XXX XXX XXX XXX
Flight Centre XXX XXX XXX XXX XXX XXX
Helloworld Travel XXX XXX XXX XXX XXX XXX
Web Travel Group XXX XXX XXX XXX XXX XXX
EaseMyTrip XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Trainline M&A and Investment Activity

Trainline acquired  XXX companies to date.

Last acquisition by Trainline was  XXXXXXXX, XXXXX XXXXX XXXXXX . Trainline acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Trainline

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Trainline

When was Trainline founded? Trainline was founded in 2019.
Where is Trainline headquartered? Trainline is headquartered in United Kingdom of Great Britain and Northern Ireland.
How many employees does Trainline have? As of today, Trainline has 1.0K+ employees.
Who is the CEO of Trainline? Trainline's CEO is Mr. Jody Ford.
Is Trainline publicy listed? Yes, Trainline is a public company listed on LON.
What is the stock symbol of Trainline? Trainline trades under TRN ticker.
When did Trainline go public? Trainline went public in 2019.
Who are competitors of Trainline? Similar companies to Trainline include e.g. Corporate Travel Management, Flight Centre, Helloworld Travel, Web Travel Group.
What is the current market cap of Trainline? Trainline's current market cap is $1.5B
What is the current revenue of Trainline? Trainline's last 12-month revenue is $572M.
What is the current EBITDA of Trainline? Trainline's last 12-month EBITDA is $204M.
What is the current EV/Revenue multiple of Trainline? Current revenue multiple of Trainline is 2.7x.
What is the current EV/EBITDA multiple of Trainline? Current EBITDA multiple of Trainline is 7.5x.
What is the current revenue growth of Trainline? Trainline revenue growth between 2023 and 2024 was 21%.
Is Trainline profitable? Yes, Trainline is EBITDA-positive (as of the last 12 months).

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