Stocktoria

Trainline plc TRN.L

GB · London Stock Exchange · XLON · stock · Consumer Cyclical · website

Trainline plc statistics & valuation

Market cap£760.9M
P / E9.5×
P / S1.7×
P / B3.7×
P / FCF9.6×
Net margin17.6%
FCF margin17.6%
Net debt£202.2M
Enterprise value USD$1.3B
Earnings yield EBIT/EV12.7%
Return on capital26.3%
Graham number -99.3%£1.59

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (£1.59); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
6.50% 8.60% 13.20% 17.60% 2023202420252026
Gross margin (%)
77.10% 77.00% 79.70% 82.60% 2023202420252026
Operating margin (%)
8.40% 14.00% 19.40% 27.00% 2023202420252026
Return on equity (%)
7.30% 10.90% 20.60% 39.10% 2023202420252026
Shares outstanding
349.0M 349.0M 349.0M 349.0M 2023202420252026
Net debt (£)
£96.6M £62.0M £81.8M £202.2M 2023202420252026
Share buybacks (£)
£7.9M £35.4M £106.5M £161.2M 2023202420252026
Return on assets (%)
3.20% 5.00% 8.80% 11.40% 2023202420252026
Free cash flow margin (%)
1.30% 20.60% 21.70% 17.60% 2023202420252026
Debt / equity (×)
0.53× 0.49× 0.56× 1.28× 2023202420252026
EPS (£)
£0.04 £0.07 £0.13 £0.19 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Trainline plc trades at about 1139.6× earnings — below its 10-year norm (10-year range 1186.6×–5553.6×, median 5224.3×).

1139.6× 5553.6×

Shaded band = 10-year range (1186.6×–5553.6×); dot = today's 1139.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin82.6%79.7%77.0%77.1%
Operating margin27.0%19.4%14.0%8.4%
Net margin17.6%13.2%8.6%6.5%
FCF margin17.6%21.7%20.6%1.3%
Return on assets11.4%8.8%5.0%3.2%
Return on equity39.1%20.6%10.9%7.3%
Debt / equity1.11×0.24×0.45×0.48×
Current ratio0.630.470.680.55

Computed from company filings · GB · as of 2026-02-28. Figures in GBP. Facts plus Stocktoria's own computed scores — not investment advice.