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 3,148 3,400
International Consumer 915 1,194 1,521
Trainline Solutions 597 700 772
Group 4,323 5,042 5,692
Revenue (£m)      
UK Consumer 172 190 203
International Consumer 45 62 79
Trainline Solutions 110 122 134
Group 327 374 417
Adjusted EBITDA (£m)1      
UK Consumer 71 81 87
International Consumer (22) (16) (12)
Trainline Solutions 37 43 50
Group 86 109 125

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

Last updated 6 September 2023. Based on the eleven analysts that have published numbers post the FY2023 results announcement on 4 May 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 Jack Cummings
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