Added to YB: 2025-05-19
Pitch date: 2025-05-15
TRN.L [bullish]
Trainline plc
-20.93%
current return
Author Info
Northwest Frontier Capital is a generalist analyst with established track record of in Small and Mid-Cap and TMT investing across both the buy and sell-side. Philosophy based on identifying high quality companies with strong fundamentals, skilled management teams and clear competitive advantages, that can invest at high incremental ROIC on a persistent basis. Then looking to purchase these companies at intrinsic value and hold for the long-term. Sign up for the newsletter.
Company Info
Trainline plc engages in the operation of an independent rail and coach travel platform that sells rail and coach tickets the United Kingdom and internationally.
Market Cap
GBP 1.1B
Pitch Price
GBP 2.79
Price Target
N/A
Dividend
N/A
EV/EBITDA
11.06
P/E
20.92
EV/Sales
2.69
Sector
Hotels, Restaurants and Leisure
Category
growth
From subdued guidance to the competitive moat: Answering all the Trainline questions
TRN.L: Growth headwinds in FY26 (0-3% revenue guidance) due to temporary take-rate cut & PAYG expansion, but should annualize after. Medium-term UK growth could return to 5-7%. GBR competition not until 2027+ and international biz benefiting from AI search traffic & European liberalization. Still powerful aggregator moat at attractive 7.1x EV/EBITDA.
Read full article (11 min)