Trainline FY revenue rises 2%, slightly beats estimates

Trainline

06/05/2026 07:13

Overview

UK rail ticketing platform's FY2026 revenue rose 2%, slightly beating analyst expectations

Adjusted EBITDA for FY2026 up 11% but slightly missed analyst estimates

Company repurchased £94 mln of shares under current buyback programme

Outlook

Trainline expects FY2027 net ticket sales of £6.2-£6.45 bln

Company sees FY2027 revenue of £440-£455 mln

Trainline expects FY2027 adjusted EBITDA margin at about 2.9% of net ticket sales

Result Drivers

UK COMMISSION RATE CUT - Revenue growth was limited by a reduction in the UK commission rate from 5% to 4.5% from April 2025

COST EFFICIENCIES - Profitability benefited from lower central industry system costs, ticket fulfilment costs, and efficiency savings in payment processing and customer service

INTERNATIONAL AND B2B GROWTH - International Consumer and Trainline Solutions segments saw growth from carrier competition in Europe and increased B2B sales

Company press release: ID:nRSF1322Da

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
Slight Beat*
GBP 453 mln
GBP 449.86 mln (13 Analysts)
FY Adjusted EBITDA
Slight Miss*
GBP 177 mln
GBP 177.08 mln (13 Analysts)
FY Operating Profit
GBP 122 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the leisure & recreation peer group is "buy"

Wall Street's median 12-month price target for Trainline PLC is GBp350.00, about 46.2% above its May 5 closing price of GBp239.40

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)