Based on our discussions with the sell-side analysts who publish research on Trainline shares, our understanding of current market consensus is as follows:

  FY2023A FY2024F FY2025F
Net ticket sales (£m)      
UK Consumer 2,811 3,297 3,578
International Consumer 915 1,091 1,300
Trainline Solutions 597 769 854
Group 4,323 5,157 5,732
Revenue (£m)      
UK Consumer 172 196 209
International Consumer 45 55 67
Trainline Solutions 110 130 144
Group 327 381 419
Adjusted EBITDA (£m)1      
UK Consumer 71 80 85
International Consumer (22) (16) (13)
Trainline Solutions 37 49 56
Group 86 112 128

1 Adjusted EBITDA excludes exceptional items and share-based payment charges.

Last updated 28 February 2024. Based on the ten analysts that have published numbers post the H1 FY2024 results announcement on 2 Nov 2023. 

The financial forecasts presented above have not been prepared by and are not endorsed in any way by Trainline plc (“Trainline”). Trainline has not verified or commented on any individual estimates, nor does it intend to do so in the future. Trainline assumes no responsibility to update, revise or otherwise comment on any of the information contained in these forecasts. It should be noted that financial forecasts are, by definition, forward looking, and are therefore subject to various risks and uncertainties which are subject to change at any time.

Analysts covering Trainline

Sell-side house Analyst
Barclays Andrew Ross
Berenberg Ciarán Donnelly
Canaccord Karl Burns
Deutsche Bank Simon Davies
JP Morgan Marcus Diebel
Morgan Stanley Miriam Josiah
Numis Gareth Davies
Panmure Gordon Lena Thakker
Peel Hunt James Lockyer
Shore Capital Katie Cousins
Stifel Mark Irvine-Fortescue
UBS Ivar Billfalk-Kelly