Trainline (MEX:TRNE) Operating Income: MXN2,999 Mil (TTM As of Feb. 2026)

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MEX:TRNE Trainline PLC MEX:TRNE
69 GF Score
Price MXN70.45
GF Value MXN118.30
! 3 Warning Signs
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What is Trainline Operating Income?

Trainline MEX:TRNE 69 Operating Income is MXN2,999 Mil as of Feb. 2026. GuruFocus rates MEX:TRNE with a GF Score™ of 69/100 and a GF Value™ of MXN118.30. The stock has 3 warning signs investors should review.

Trainline's Operating Income for the six months ended in Feb. 2026 was MXN1,276 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was MXN2,999 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Trainline's Operating Income for the six months ended in Feb. 2026 was MXN1,276 Mil. Trainline's Revenue for the six months ended in Feb. 2026 was MXN5,100 Mil. Therefore, Trainline's Operating Margin % for the quarter that ended in Feb. 2026 was 25.02%.

Trainline's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Trainline's annualized ROC % for the quarter that ended in Feb. 2026 was 10.96%. Trainline's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 239.49%.


Trainline  (MEX:TRNE) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Trainline's annualized ROC % for the quarter that ended in Feb. 2026 is calculated as:

ROC % (Q: Feb. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Aug. 2025 ) + Invested Capital (Q: Feb. 2026 ))/ count )
=2551.986 * ( 1 - 35.52% )/( (16091.679 + 13929.206)/ 2 )
=1645.5205728/15010.4425
=10.96 %

where

Invested Capital(Q: Aug. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=17829.053 - 7221.613 - ( 1450.227 - max(0, 9399.657 - 3915.418+1450.227))
=16091.679

Invested Capital(Q: Feb. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=16370.311 - 4452.838 - ( 1396.912 - max(0, 5489.285 - 3477.552+1396.912))
=13929.206

Note: The Operating Income data used here is two times the semi-annual (Feb. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Trainline's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Aug. 2025  Q: Feb. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2539.632/( ( (1002.601 + max(-4756.422, 0)) + (1118.269 + max(-3460.494, 0)) )/ 2 )
=2539.632/( ( 1002.601 + 1118.269 )/ 2 )
=2539.632/1060.435
=239.49 %

where Working Capital is:

Working Capital(Q: Aug. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2465.191 + 0 + 4.5474735088646E-13) - (7221.613 + 0 + 0)
=-4756.422

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1780.026 + 0 + 176.7) - (4452.838 + 0 + 964.382)
=-3460.494

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Feb. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Trainline's Operating Margin % for the quarter that ended in Feb. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Feb. 2026 )/Revenue (Q: Feb. 2026 )
=1275.993/5099.55
=25.02 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Trainline Operating Income Related Terms


Trainline Operating Income Historical Data

* Premium members only.

The historical data trend for Trainline's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Trainline Operating Income Chart

Trainline Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only -284.73 612.36 1,197.05 2,203.92 2,864.51

Trainline Semi-Annual Data
Feb17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 709.50 1,256.63 937.34 1,723.39 1,275.99
MEX:TRNE
69GF Score
Trainline PLC MEX:TRNE
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Trainline Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was MXN2,999 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of MXN2,999 Mil mean?
Trainline (MEX:TRNE) has a Operating Income of MXN2,999 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Trainline and its competitors.
Is Trainline's Operating Income too high?
Trainline's current Operating Income is MXN2,999 Mil. Overall, Trainline has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does Trainline's Operating Income compare to BKNG and ABNB?
Trainline's Operating Income of MXN2,999 Mil can be compared against companies in the Travel & Leisure industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Travel & Leisure company?
A good Operating Income depends on the Travel & Leisure industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Trainline and its competitors. Trainline's current Operating Income is MXN2,999 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Trainline stock overvalued right now?
Trainline (MEX:TRNE) has a current Operating Income of MXN2,999 Mil. The stock's GF Value™ is MXN118.30, compared to a current price of MXN70.45 — trading 40.4% below its estimated fair value. The current Operating Income is MXN2,999 Mil. Trainline's overall GF Score™ is 69/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Trainline (MEX:TRNE), the current Operating Income is MXN2,999 Mil as of Feb. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Trainline (MEX:TRNE) Overvalued in 2026?

Based on GuruFocus' analysis, Trainline stock appears to be undervalued. The current stock price of MXN70.45 is trading 40.4% below its estimated GF Value™ of MXN118.30.

Key valuation signals for MEX:TRNE:

  • Operating Income: MXN2,999 Mil
  • GF Value™: MXN118.30 vs. price of MXN70.45 (40.4% below fair value)
  • GF Score™: 69/100 with 3 warning signs

No single metric tells the full story. See the MEX:TRNE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Trainline Business Description

Address 1 Stonecutter Street, London, GBR, EC4A 4AH
Trainline PLC are the main independent rail and coach travel platform selling rail and coach tickets world'wide. The Group has three operating segments UK Consumer includes Travel apps and websites for individual travellers for journeys within the UK; International Consumer includes Travel apps and websites for individual travellers for journeys outside the UK including journeys between the UK and outside the UK, and Trainline Solutions1 includes Travel portal platforms for Trainline's own branded business units, in addition to external corporates, travel management companies and whitelabel ecommerce platforms for Train Operating Companies. It generates majority of revenue from UK Consumer. It has presence in UK and Rest of world of which majority of revenue comes from UK.
69GF Score

Get the complete analysis for MEX:TRNE

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN70.45
Price
MXN118.30
GF Value