Balance Sheet Trainline Plc

Equities

TRN

GB00BKDTK925

Leisure & Recreation

Market Closed - London S.E. Other stock markets 16:35:25 11/09/2024 BST			5-day change	1st Jan Change
300.20 ^GBX	-0.60%		0.00%	-6.71%

07-22	HSBC cuts Beazley, Berenberg raises Gym Group	AN
05-20	Deutsche Bank Starts Trainline Coverage at Buy	MT

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Published financial data: TRAINLINE PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: February	2020	2021	2022	2023	2024
Revenues	261M	67.08M	189M	327M	397M
Total Revenues	261M	67.08M	189M	327M	397M
Cost of Goods Sold, Total	59.6M	18.41M	35.72M	74.92M	91.43M
Gross Profit	201M	48.68M	153M	252M	305M
Selling General & Admin Expenses, Total	199M	148M	163M	225M	241M
Stock-Based Compensation (IS)	-	-	-	-	-
Other Operating Expenses, Total	199M	148M	163M	225M	241M
Operating Income	2.26M	-99.7M	-10.31M	27.64M	64.34M
Interest Expense, Total	-12.18M	-7.64M	-8.25M	-10.27M	-8.37M
Interest And Investment Income	692K	22K	36K	730K	2.74M
Net Interest Expenses	-11.49M	-7.61M	-8.22M	-9.54M	-5.62M
Currency Exchange Gains (Loss)	-558K	556K	-927K	4K	-1.84M
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	-9.79M	-107M	-19.46M	18.1M	56.88M
Restructuring Charges	-	-	-	-	-2.26M
Merger & Related Restructuring Charges	-	-	-	-	-6.5M
Other Unusual Items	-70.44M	-	3.91M	3.99M	-
EBT, Incl. Unusual Items	-80.23M	-107M	-15.54M	22.09M	48.12M
Income Tax Expense	707K	-15.46M	-3.64M	873K	14.13M
Earnings From Continuing Operations	-80.94M	-91.3M	-11.9M	21.22M	33.99M
Net Income to Company	-80.94M	-91.3M	-11.9M	21.22M	33.99M
Net Income - (IS)	-80.94M	-91.3M	-11.9M	21.22M	33.99M
Net Income to Common Incl Extra Items	-80.94M	-91.3M	-11.9M	21.22M	33.99M
Net Income to Common Excl. Extra Items	-80.94M	-91.3M	-11.9M	21.22M	33.99M
Per Share Items
Net EPS - Basic	-0.18	-0.19	-0.02	0.05	0.07
Basic EPS - Continuing Operations	-0.18	-0.19	-0.02	0.05	0.07
Basic Weighted Average Shares Outstanding	458M	478M	478M	469M	467M
Net EPS - Diluted	-0.18	-0.19	-0.02	0.04	0.07
Diluted EPS - Continuing Operations	-0.18	-0.19	-0.02	0.04	0.07
Diluted Weighted Average Shares Outstanding	458M	478M	478M	473M	479M
Normalized Basic EPS	-0.01	-0.14	-0.03	0.02	0.08
Normalized Diluted EPS	-0.01	-0.14	-0.03	0.02	0.07
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	26.82M	-89.8M	-1.1M	35.06M	72.59M
EBITA	25.2M	-91.54M	-3.23M	32.92M	70.33M
EBIT	2.26M	-99.7M	-10.31M	27.64M	64.34M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	-0.88	14.48	23.4	3.95	29.36
Current Domestic Taxes	-	-	3.76M	14.51M	8.11M
Total Current Taxes	4.2M	-5.81M	3.76M	14.51M	8.11M
Total Deferred Taxes	-3.49M	-9.64M	-7.4M	-13.64M	6.02M
Normalized Net Income	-6.12M	-66.73M	-12.16M	11.31M	35.55M
Interest on Long-Term Debt	828K	7.63M	8.25M	10.27M	8.37M
Non-Cash Pension Expense	-6K	0	-1K	16K	17K
Supplemental Operating Expense Items
Marketing Expenses	-	-	-	-	67.43M
Selling and Marketing Expenses	-	-	-	-	67.43M
General and Administrative Expenses	199M	148M	163M	225M	174M
Research And Development Expense From Footnotes	23.64M	28.15M	29.6M	29.84M	29.33M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	10.63M	7.09M	6.78M	17.29M	22.63M
Stock-Based Comp., Other (Total)	49.7M	-	-	-	-
Total Stock-Based Compensation	60.34M	7.09M	6.78M	17.29M	22.63M

Fiscal Period: February	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	92.12M	36.58M	68.5M	57.34M	91.08M
Total Cash And Short Term Investments	92.12M	36.58M	68.5M	57.34M	91.08M
Accounts Receivable, Total	43.15M	9.04M	40.37M	48.19M	50.27M
Other Receivables	3.45M	8.11M	4.51M	5.28M	3M
Total Receivables	46.61M	17.16M	44.88M	53.47M	53.27M
Inventory	26K	-	-	-	-
Prepaid Expenses	5.47M	7.36M	5.03M	6.69M	5.9M
Total Current Assets	144M	61.09M	118M	117M	150M
Gross Property Plant And Equipment	30.42M	40.98M	41.82M	42.44M	44.9M
Accumulated Depreciation	-10.23M	-15.11M	-16.95M	-21.25M	-26.95M
Net Property Plant And Equipment	20.18M	25.87M	24.88M	21.19M	17.95M
Long-term Investments	6K	-	-	-	-
Goodwill	443M	419M	417M	421M	419M
Other Intangibles, Total	93.56M	81.38M	69.79M	66.83M	70.35M
Deferred Tax Assets Long-Term	-	5.08M	12.56M	26.95M	24.85M
Total Assets	701M	593M	643M	653M	682M
Liabilities
Accounts Payable, Total	136M	22.52M	191M	159M	159M
Accrued Expenses, Total	29.38M	15.47M	34.04M	36.24M	47.37M
Current Portion of Long-Term Debt	309K	831K	1.42M	368K	841K
Current Portion of Leases	2.39M	3.34M	3.49M	4.52M	4.99M
Current Income Taxes Payable	552K	-	-	7.64M	3.2M
Unearned Revenue Current, Total	-	-	225K	536K	703K
Other Current Liabilities	-	-	2.8M	4.5M	5.44M
Total Current Liabilities	169M	42.16M	233M	213M	222M
Long-Term Debt	141M	248M	134M	138M	140M
Long-Term Leases	12.96M	18.36M	15.5M	10.52M	7.34M
Deferred Tax Liability Non Current	4.34M	-	-	-	-
Other Non Current Liabilities	681K	850K	873K	778K	837K
Total Liabilities	328M	309M	384M	363M	370M
Preferred Stock Convertible	50K	-	-	-	-
Total Preferred Equity	50K	-	-	-	-
Common Stock, Total	4.81M	4.81M	4.81M	4.81M	4.71M
Additional Paid In Capital	1.2B	1.2B	1.2B	1.2B	-
Retained Earnings	293M	202M	191M	213M	1.42B
Treasury Stock	-10.9M	-7.75M	-21.73M	-26.73M	-29.76M
Comprehensive Income and Other	-1.11B	-1.11B	-1.11B	-1.1B	-1.08B
Total Common Equity	373M	284M	259M	291M	312M
Total Equity	373M	284M	259M	291M	312M
Total Liabilities And Equity	701M	593M	643M	653M	682M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	478M	479M	473M	470M	460M
ECS Total Common Shares Outstanding	478M	479M	473M	470M	460M
Book Value / Share	0.78	0.59	0.55	0.62	0.68
Tangible Book Value	-164M	-217M	-228M	-197M	-177M
Tangible Book Value Per Share	-0.34	-0.45	-0.48	-0.42	-0.38
Total Debt	157M	271M	155M	154M	153M
Net Debt	64.98M	234M	86.41M	96.57M	62.03M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-56K	-114K	-438K	-1.25M	-990K
Debt Equivalent Oper. Leases	-	-	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	8.28M	9.67M	7.38M	7.73M	9.23M
Full Time Employees	600	600	750	950	1K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	300K

Fiscal Period: February	2020	2021	2022	2023	2024
Net Income	-80.94M	-91.3M	-11.9M	21.22M	33.99M
Depreciation & Amortization - CF	4.33M	4.89M	5.9M	6.05M	6.34M
Amortization of Goodwill and Intangible Assets - (CF)	22.94M	8.16M	7.08M	5.28M	5.99M
Depreciation & Amortization, Total	27.27M	13.05M	12.98M	11.33M	12.33M
Amortization of Deferred Charges, Total - (CF)	23.64M	28.15M	29.6M	29.84M	29.33M
(Gain) Loss on Sale of Investments - (CF)	454K	-	-	-	-
Asset Writedown & Restructuring Costs	-	25.2M	-	-	-
Stock-Based Compensation (CF)	60.34M	7.09M	6.78M	17.29M	22.63M
Other Operating Activities, Total	27.84M	-8.24M	6.03M	2.29M	13.54M
Change In Accounts Receivable	-7.8M	33.02M	-33.56M	-13.99M	970K
Change In Inventories	-1K	-	-	-	-
Change In Accounts Payable	9.37M	-128M	190M	-29.1M	8.94M
Cash from Operations	60.17M	-121M	200M	38.88M	122M
Capital Expenditure	-28.36M	-26.34M	-4.56M	-2.41M	-2.85M
Cash Acquisitions	-	-	-	-	-866K
Sale (Purchase) of Intangible assets	-	-	-24.79M	-32.81M	-37.03M
Cash from Investing	-28.36M	-26.34M	-29.34M	-35.22M	-40.75M
Long-Term Debt Issued, Total	207M	245M	97M	105M	90M
Total Debt Issued	207M	245M	97M	105M	90M
Long-Term Debt Repaid, Total	-339M	-140M	-212M	-103M	-94.01M
Total Debt Repaid	-339M	-140M	-212M	-103M	-94.01M
Issuance of Common Stock	118M	-	-	-	-
Repurchase of Common Stock	-	-4.12M	-16.6M	-7.95M	-35.36M
Other Financing Activities, Total	-20.54M	-8.17M	-5.69M	-9.38M	-6.2M
Cash from Financing	-34.76M	92.85M	-138M	-15.01M	-45.57M
Foreign Exchange Rate Adjustments	599K	-966K	-834K	192K	-1.66M
Net Change in Cash	-2.36M	-55.54M	31.92M	-11.16M	33.75M
Supplemental Items
Cash Interest Paid	13.7M	5.48M	5.58M	6.85M	6.14M
Cash Income Tax Paid (Refund)	5.2M	-159K	-4.44M	4.14M	10.68M
Levered Free Cash Flow	75.31M	-146M	173M	3.97M	68.5M
Unlevered Free Cash Flow	82.93M	-141M	178M	10.38M	73.73M
Change In Net Working Capital	1.37M	101M	-164M	30.13M	-9.11M
Net Debt Issued / Repaid	-132M	105M	-115M	2.31M	-4.01M

Fiscal Period: February	2020	2021	2022	2023	2024
Profitability
Return on Assets	0.2	-9.63	-1.04	2.67	6.02
Return on Total Capital	0.27	-11.5	-1.33	4.02	8.84
Return On Equity %	-26.56	-27.82	-4.38	7.71	11.28
Return on Common Equity	-26.56	-27.82	-4.38	7.71	11.28
Margin Analysis
Gross Profit Margin %	77.14	72.56	81.05	77.1	76.95
SG&A Margin	76.28	221.19	86.52	68.65	60.73
EBITDA Margin %	10.28	-133.85	-0.58	10.72	18.3
EBITA Margin %	9.66	-136.46	-1.72	10.06	17.73
EBIT Margin %	0.87	-148.63	-5.47	8.45	16.22
Income From Continuing Operations Margin %	-31.04	-136.1	-6.32	6.49	8.57
Net Income Margin %	-31.04	-136.1	-6.32	6.49	8.57
Net Avail. For Common Margin %	-31.04	-136.1	-6.32	6.49	8.57
Normalized Net Income Margin	-2.35	-99.47	-6.45	3.46	8.96
Levered Free Cash Flow Margin	28.88	-217.4	91.64	1.21	17.27
Unlevered Free Cash Flow Margin	31.8	-210.28	94.38	3.17	18.59
Asset Turnover
Asset Turnover	0.37	0.1	0.31	0.5	0.59
Fixed Assets Turnover	20.33	2.91	7.43	14.2	20.27
Receivables Turnover (Average Receivables)	7.12	2.57	7.34	7.26	8.06
Inventory Turnover (Average Inventory)	2.34K	-	-	-	-
Short Term Liquidity
Current Ratio	0.85	1.45	0.51	0.55	0.68
Quick Ratio	0.82	1.27	0.49	0.52	0.65
Operating Cash Flow to Current Liabilities	0.36	-2.87	0.86	0.18	0.55
Days Sales Outstanding (Average Receivables)	51.37	142	49.7	50.3	45.42
Days Outstanding Inventory (Average Inventory)	0.16	-	-	-	-
Average Days Payable Outstanding	826.09	-	1.09K	851.53	636.81
Cash Conversion Cycle (Average Days)	-774.56	-	-	-	-
Long Term Solvency
Total Debt/Equity	42.13	95.43	59.7	52.95	49.07
Total Debt / Total Capital	29.64	48.83	37.38	34.62	32.92
LT Debt/Equity	41.4	93.96	57.8	51.27	47.2
Long-Term Debt / Total Capital	29.13	48.08	36.2	33.52	31.66
Total Liabilities / Total Assets	46.83	52.18	59.64	55.5	54.25
EBIT / Interest Expense	0.19	-13.06	-1.25	2.69	7.69
EBITDA / Interest Expense	2.42	-11.35	0.32	3.79	9.16
(EBITDA - Capex) / Interest Expense	0.1	-14.8	-0.23	3.56	8.82
Total Debt / EBITDA	5.32	-3.12	58.06	3.95	2
Net Debt / EBITDA	2.2	-2.7	32.39	2.48	0.81
Total Debt / (EBITDA - Capex)	133.82	-2.39	-82.01	4.21	2.07
Net Debt / (EBITDA - Capex)	55.35	-2.07	-45.75	2.64	0.84
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	24.46	-74.27	181.01	73.54	21.27
Gross Profit, 1 Yr. Growth %	29.4	-75.8	213.9	75.29	21.04
EBITDA, 1 Yr. Growth %	-25.17	-434.83	-98.78	-3.3K	107.03
EBITA, 1 Yr. Growth %	-26.32	-463.27	-96.47	-1.12K	113.66
EBIT, 1 Yr. Growth %	-80.03	-4.51K	-89.66	-368	132.79
Earnings From Cont. Operations, 1 Yr. Growth %	492.08	12.81	-86.96	-278.22	60.18
Net Income, 1 Yr. Growth %	492.08	12.81	-86.96	-278.22	60.18
Normalized Net Income, 1 Yr. Growth %	-28.36	990.86	-81.78	-193.05	214.19
Diluted EPS Before Extra, 1 Yr. Growth %	438.23	8.08	-86.95	-279.72	58.26
Accounts Receivable, 1 Yr. Growth %	43.62	-79.04	267.97	14.79	4.32
Inventory, 1 Yr. Growth %	4	-	-	-	-
Net Property, Plant and Equip., 1 Yr. Growth %	269.53	28.18	-3.84	-14.82	-15.3
Total Assets, 1 Yr. Growth %	-0.61	-15.46	8.45	1.58	4.4
Tangible Book Value, 1 Yr. Growth %	-48.97	32.48	4.75	-13.51	-10.17
Common Equity, 1 Yr. Growth %	57.63	-23.97	-8.47	12	7.35
Cash From Operations, 1 Yr. Growth %	-16.64	-301.26	-264.83	-80.52	207.35
Capital Expenditures, 1 Yr. Growth %	-12.91	-7.13	267.8	-47.16	18.48
Levered Free Cash Flow, 1 Yr. Growth %	209.45	-293.65	-218.45	-97.7	1.63K
Unlevered Free Cash Flow, 1 Yr. Growth %	110.09	-270.11	-226.12	-94.16	610.04
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	21.04	-43.41	-14.97	120.83	45.07
Gross Profit, 2 Yr. CAGR %	24.46	-44.04	-12.84	127.63	45.66
EBITDA, 2 Yr. CAGR %	20.53	58.29	-79.78	-37.51	713.44
EBITA, 2 Yr. CAGR %	21.75	63.61	-64.18	-40.04	366.41
EBIT, 2 Yr. CAGR %	-37.97	196.74	113.57	-47.35	149.78
Earnings From Cont. Operations, 2 Yr. CAGR %	82.87	158.44	-61.65	-51.79	68.96
Net Income, 2 Yr. CAGR %	82.87	158.44	-61.65	-51.79	68.96
Normalized Net Income, 2 Yr. CAGR %	-40.04	179.54	40.99	-58.82	70.98
Diluted EPS Before Extra, 2 Yr. CAGR %	-94.01	141.19	-62.44	-51.57	68.65
Accounts Receivable, 2 Yr. CAGR %	64.59	-45.14	-3.28	109.59	9.43
Inventory, 2 Yr. CAGR %	-23.13	-	-	-	-
Net Property, Plant and Equip., 2 Yr. CAGR %	82.74	117.64	11.02	-9.5	-15.06
Total Assets, 2 Yr. CAGR %