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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 Helloworld Travel.

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 $597M

LTM EBITDA $217M

EV

$1.6B

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Trainline Financials

Trainline has a last 12-month revenue (LTM) of $597M and a last 12-month EBITDA of $217M.

In the most recent fiscal year, Trainline achieved revenue of $594M and an EBITDA of $177M.

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

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Trainline P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $597M XXX $594M XXX XXX XXX
Gross Profit $477M XXX $473M XXX XXX XXX
Gross Margin 80% XXX 80% XXX XXX XXX
EBITDA $217M XXX $177M XXX XXX XXX
EBITDA Margin 36% XXX 30% XXX XXX XXX
EBIT $157M XXX $115M XXX XXX XXX
EBIT Margin 26% XXX 19% XXX XXX XXX
Net Profit $114M XXX $78.4M XXX XXX XXX
Net Margin 19% XXX 13% XXX XXX XXX
Net Debt XXX XXX $99.9M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Trainline Stock Performance

As of May 30, 2025, Trainline's stock price is GBP 3 (or $4).

Trainline has current market cap of GBP 1.1B (or $1.5B), and EV of GBP 1.2B (or $1.6B).

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Trainline Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.6B $1.5B XXX XXX XXX XXX $0.25

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Trainline Valuation Multiples

As of May 30, 2025, Trainline has market cap of $1.5B and EV of $1.6B.

Trainline's trades at 2.8x EV/Revenue multiple, and 9.6x EV/EBITDA.

Equity research analysts estimate Trainline's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Trainline has a P/E ratio of 13.2x.

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Trainline Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $1.5B XXX $1.5B XXX XXX XXX
EV (current) $1.6B XXX $1.6B XXX XXX XXX
EV/Revenue 2.7x XXX 2.8x XXX XXX XXX
EV/EBITDA 7.5x XXX 9.6x XXX XXX XXX
EV/EBIT 10.3x XXX 15.0x XXX XXX XXX
EV/Gross Profit 3.4x XXX n/a XXX XXX XXX
P/E 13.2x XXX 20.8x XXX XXX XXX
EV/FCF 12.2x XXX 12.9x XXX XXX XXX

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Trainline Margins & Growth Rates

Trainline's last 12 month revenue growth is 3%

Trainline's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.3M for the same period.

Trainline's rule of 40 is 32% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Trainline's rule of X is 44% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Trainline Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 3% XXX 4% XXX XXX XXX
EBITDA Margin 36% XXX 29% XXX XXX XXX
EBITDA Growth 6% XXX 19% XXX XXX XXX
Rule of 40 32% XXX 32% XXX XXX XXX
Bessemer Rule of X XXX XXX 44% XXX XXX XXX
Revenue per Employee XXX XXX $0.6M XXX XXX XXX
Opex per Employee XXX XXX $0.3M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 60% 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

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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 months revenue is $597M.
What is the current revenue growth of Trainline? Trainline revenue growth (NTM/LTM) is 3%.
What is the current EV/Revenue multiple of Trainline? Current revenue multiple of Trainline is 2.7x.
Is Trainline profitable? Yes, Trainline is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Trainline? Trainline's last 12 months EBITDA is $217M.
What is Trainline's EBITDA margin? Trainline's last 12 months EBITDA margin is 36%.
What is the current EV/EBITDA multiple of Trainline? Current EBITDA multiple of Trainline is 7.5x.
What is the current FCF of Trainline? Trainline's last 12 months FCF is $133M.
What is Trainline's FCF margin? Trainline's last 12 months FCF margin is 22%.
What is the current EV/FCF multiple of Trainline? Current FCF multiple of Trainline is 12.2x.

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