Trainline PLC
LSE:TRN

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Trainline PLC
LSE:TRN
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Price: 249 GBX 1.88% Market Closed
Market Cap: £930.9m

EV/EBITDA

6.5
Current
57%
Cheaper
vs 3-y average of 15.3

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
6.5
=
Enterprise Value
GBX813.3m
/
EBITDA
£155m

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
6.5
=
Enterprise Value
GBX813.3m
/
EBITDA
£155m

Valuation Scenarios

Trainline PLC is trading below its 3-year average

If EV/EBITDA returns to its 3-Year Average (15.3), the stock would be worth GBX581.22 (133% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-100%
Maximum Upside
+133%
Average Upside
15%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 6.5 GBX249
0%
3-Year Average 15.3 GBX581.22
+133%
5-Year Average 14.8 GBX562.09
+126%
Industry Average 0 GBX1.38
-99%
Country Average 0 GBX0.75
-100%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
GBX813.3m
/
Sep 2025
£155m
=
6.5
Current
GBX813.3m
/
Mar 2026
£182.4m
=
4.5
Forward
GBX813.3m
/
Mar 2027
£182.7m
=
4.5
Forward
GBX813.3m
/
Mar 2028
£189.9m
=
4.3
Forward
GBX813.3m
/
Feb 2029
£219.6m
=
3.7
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
UK
Trainline PLC
LSE:TRN
930.9m GBP 6.5 14.2
CN
H World Group Ltd
BMV:HTHTN
2.7T MXN 128.5 206.7
US
Booking Holdings Inc
NASDAQ:BKNG
152.2B USD 15 28.2
US
Marriott International Inc
NASDAQ:MAR
99.8B USD 23.9 38.4
US
Airbnb Inc
NASDAQ:ABNB
87.2B USD 29.2 34.7
US
Hilton Worldwide Holdings Inc
NYSE:HLT
78.4B USD 31.3 53.8
US
Royal Caribbean Cruises Ltd
NYSE:RCL
73.4B USD 13.7 17.2
US
Carnival Corp
NYSE:CCL
37.9B USD 8.2 12.2
US
Viking Holdings Ltd
NYSE:VIK
36.2B USD 0 0
UK
Carnival PLC
LSE:CCL
26.7B GBP 7.9 12.8
CN
Trip.com Group Ltd
HKEX:9961
276.6B HKD 10.6 7.4
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
UK
Trainline PLC
LSE:TRN
Average EV/EBITDA: 27.5
6.5
11%
0.6
CN
H
H World Group Ltd
BMV:HTHTN
128.5
11%
11.7
US
Booking Holdings Inc
NASDAQ:BKNG
15
10%
1.5
US
Marriott International Inc
NASDAQ:MAR
23.9
13%
1.8
US
Airbnb Inc
NASDAQ:ABNB
29.2
34%
0.9
US
Hilton Worldwide Holdings Inc
NYSE:HLT
31.3
19%
1.6
US
Royal Caribbean Cruises Ltd
NYSE:RCL
13.7
13%
1.1
US
Carnival Corp
NYSE:CCL
8.2
5%
1.6
US
V
Viking Holdings Ltd
NYSE:VIK
Not Available
18%
N/A
UK
Carnival PLC
LSE:CCL
7.9
6%
1.3
CN
Trip.com Group Ltd
HKEX:9961
10.6
17%
0.6

Market Distribution

Higher than 93% of companies in United Kingdom
Percentile
93rd
Based on 1 967 companies
93rd percentile
6.5
Low
0 — 0
Typical Range
0 — 0
High
0 —
Distribution Statistics
United Kingdom
Min 0
30th Percentile 0
Median 0
70th Percentile 0
Max 743.2

Trainline PLC
Glance View

Trainline PLC, a prominent name in the realm of European train and coach travel, embarked on its journey embracing the digital age with vigor. Originating as a ticketing platform in the UK, it has swiftly expanded its reach across Europe, offering a comprehensive digital solution for travelers seeking efficient rail and coach transportation. Trainline PLC operates as an aggregator, centralizing schedules, prices, and booking services for multiple train operators and bus companies. This consolidation simplifies the often complex web of transport options, providing users with a seamless booking experience. By leveraging its extensive database and partnerships, Trainline effectively streamlines the travel planning process for millions, turning a traditionally cumbersome task into a straightforward digital interaction. The company's business model is anchored in the convenience it provides to travelers, making its revenue through both booking fees and commissions from its partner companies. As travelers use Trainline's platform to purchase tickets, the company collects a small fee for each transaction, which constitutes a significant portion of its income. Additionally, by partnering with train and bus operators, Trainline earns a commission for facilitating these sales. This dual revenue stream not only ensures steady cash flow but also incentivizes Trainline to continually improve and innovate its service offerings. As travel habits evolve and digital solutions become increasingly sought after, Trainline positions itself not just as a ticket seller, but as a vital cog in the machinery of modern European travel.

TRN Intrinsic Value
227.61 GBX
Overvaluation 9%
Intrinsic Value
Price GBX249
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