Tidal stream energy is acquiring more attention as a future potential renewable energy source. Considering the harsh submarine environment, the main challenges that face the tidal stream turbine (TST) industry are cost and reliability. Hence, simple and reliable technologies, especially considering the drivetrain, are preferred. The multibrid drivetrain configuration with only a single stage gearbox is one of the promising concepts for TST systems. In this context, this paper proposes the design optimization of a multibrid permanent magnet generator (PMG), the design of a planetary gearbox, and afterwards analyzes the multibrid concept cost-effectiveness for TST applications. Firstly, the system analytical model, which consists of a single-stage gearbox and a medium speed PMG, is presented. The optimization methodology is afterwards highlighted. Lastly, the multibrid system optimization results for different gear ratios including the direct-drive topology are discussed and compared where the suitable gear ratio (topology) is investigated. The achieved results show that the multibrid concept in TST applications seems more attractive than the direct-drive one especially for high power ratings.