MAKEMYTRIP LTD (MMYT) Fundamental Analysis & Valuation

NASDAQ:MMYT • MU0295S00016

Current stock price

41.38 USD
+1.54 (+3.87%)
Last:

This MMYT fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

5

1. MMYT Profitability Analysis

1.1 Basic Checks

  • MMYT had positive earnings in the past year.
  • MMYT had a positive operating cash flow in the past year.
  • In multiple years MMYT reported negative net income over the last 5 years.
  • Each year in the past 5 years MMYT had a positive operating cash flow.
MMYT Yearly Net Income VS EBIT VS OCF VS FCFMMYT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M -400M

1.2 Ratios

  • The Return On Assets of MMYT (3.05%) is comparable to the rest of the industry.
  • The Return On Invested Capital of MMYT (9.83%) is better than 69.84% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for MMYT is significantly below the industry average of 10.66%.
  • The last Return On Invested Capital (9.83%) for MMYT is above the 3 year average (4.91%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 3.05%
ROE N/A
ROIC 9.83%
ROA(3y)5.81%
ROA(5y)1.95%
ROE(3y)8.71%
ROE(5y)2.96%
ROIC(3y)4.91%
ROIC(5y)N/A
MMYT Yearly ROA, ROE, ROICMMYT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -20 -40 -60 -80 -100

1.3 Margins

  • MMYT has a better Profit Margin (5.46%) than 62.70% of its industry peers.
  • Looking at the Operating Margin, with a value of 14.28%, MMYT is in the better half of the industry, outperforming 63.49% of the companies in the same industry.
  • With an excellent Gross Margin value of 73.41%, MMYT belongs to the best of the industry, outperforming 89.68% of the companies in the same industry.
  • MMYT's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 14.28%
PM (TTM) 5.46%
GM 73.41%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-3.74%
GM growth 5Y0.6%
MMYT Yearly Profit, Operating, Gross MarginsMMYT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 -50

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. MMYT Health Analysis

2.1 Basic Checks

  • MMYT has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • The number of shares outstanding for MMYT has been increased compared to 1 year ago.
  • MMYT has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, MMYT has an improved debt to assets ratio.
MMYT Yearly Shares OutstandingMMYT Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
MMYT Yearly Total Debt VS Total AssetsMMYT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

2.2 Solvency

  • MMYT has an Altman-Z score of 0.26. This is a bad value and indicates that MMYT is not financially healthy and even has some risk of bankruptcy.
  • MMYT's Altman-Z score of 0.26 is on the low side compared to the rest of the industry. MMYT is outperformed by 84.92% of its industry peers.
  • MMYT has a debt to FCF ratio of 6.30. This is a slightly negative value and a sign of low solvency as MMYT would need 6.30 years to pay back of all of its debts.
  • MMYT has a better Debt to FCF ratio (6.30) than 73.02% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 6.3
Altman-Z 0.26
ROIC/WACC1.06
WACC9.29%
MMYT Yearly LT Debt VS Equity VS FCFMMYT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B 1.5B

2.3 Liquidity

  • MMYT has a Current Ratio of 1.85. This is a normal value and indicates that MMYT is financially healthy and should not expect problems in meeting its short term obligations.
  • With an excellent Current ratio value of 1.85, MMYT belongs to the best of the industry, outperforming 80.95% of the companies in the same industry.
  • MMYT has a Quick Ratio of 1.85. This is a normal value and indicates that MMYT is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 1.85, MMYT belongs to the top of the industry, outperforming 81.75% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.85
Quick Ratio 1.85
MMYT Yearly Current Assets VS Current LiabilitesMMYT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. MMYT Growth Analysis

3.1 Past

  • MMYT shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 8.11%, which is quite good.
  • MMYT shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 11.07%.
  • MMYT shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 13.85% yearly.
EPS 1Y (TTM)8.11%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%11.43%
Revenue 1Y (TTM)11.07%
Revenue growth 3Y47.65%
Revenue growth 5Y13.85%
Sales Q2Q%10.59%

3.2 Future

  • MMYT is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 18.91% yearly.
  • MMYT is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 17.36% yearly.
EPS Next Y7.46%
EPS Next 2Y19.83%
EPS Next 3Y18.91%
EPS Next 5YN/A
Revenue Next Year13.41%
Revenue Next 2Y15.51%
Revenue Next 3Y17.36%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
MMYT Yearly Revenue VS EstimatesMMYT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B
MMYT Yearly EPS VS EstimatesMMYT Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 1 -1 2 -2

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3

4. MMYT Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 25.86, the valuation of MMYT can be described as expensive.
  • MMYT's Price/Earnings ratio is in line with the industry average.
  • Compared to an average S&P500 Price/Earnings ratio of 26.17, MMYT is valued at the same level.
  • Based on the Price/Forward Earnings ratio of 18.96, the valuation of MMYT can be described as rather expensive.
  • Based on the Price/Forward Earnings ratio, MMYT is valued a bit cheaper than the industry average as 61.90% of the companies are valued more expensively.
  • The average S&P500 Price/Forward Earnings ratio is at 23.05. MMYT is around the same levels.
Industry RankSector Rank
PE 25.86
Fwd PE 18.96
MMYT Price Earnings VS Forward Price EarningsMMYT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MMYT indicates a slightly more expensive valuation: MMYT is more expensive than 75.40% of the companies listed in the same industry.
  • 78.57% of the companies in the same industry are more expensive than MMYT, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 17.58
EV/EBITDA 29.63
MMYT Per share dataMMYT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5 10

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • A more expensive valuation may be justified as MMYT's earnings are expected to grow with 18.91% in the coming years.
PEG (NY)3.47
PEG (5Y)N/A
EPS Next 2Y19.83%
EPS Next 3Y18.91%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. MMYT Dividend Analysis

5.1 Amount

  • MMYT does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

MMYT Fundamentals: All Metrics, Ratios and Statistics

MAKEMYTRIP LTD

NASDAQ:MMYT (4/6/2026, 12:42:26 PM)

41.38

+1.54 (+3.87%)

Chartmill FA Rating
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)01-21
Earnings (Next)05-04
Inst Owners98.27%
Inst Owner Change0%
Ins Owners0.34%
Ins Owner Change0%
Market Cap3.94B
Revenue(TTM)1.04B
Net Income(TTM)56.75M
Analysts85.88
Price Target104.99 (153.72%)
Short Float %10.98%
Short Ratio3.94
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)6.78%
Min EPS beat(2)-1.96%
Max EPS beat(2)15.52%
EPS beat(4)3
Avg EPS beat(4)15.49%
Min EPS beat(4)-1.96%
Max EPS beat(4)36.8%
EPS beat(8)7
Avg EPS beat(8)28.95%
EPS beat(12)11
Avg EPS beat(12)44.69%
EPS beat(16)13
Avg EPS beat(16)21.73%
Revenue beat(2)0
Avg Revenue beat(2)-9.95%
Min Revenue beat(2)-15.21%
Max Revenue beat(2)-4.68%
Revenue beat(4)0
Avg Revenue beat(4)-8.74%
Min Revenue beat(4)-15.21%
Max Revenue beat(4)-4.68%
Revenue beat(8)2
Avg Revenue beat(8)-4.52%
Revenue beat(12)5
Avg Revenue beat(12)-1.67%
Revenue beat(16)7
Avg Revenue beat(16)-0.6%
PT rev (1m)-0.17%
PT rev (3m)-7.78%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-7.19%
EPS NY rev (1m)0%
EPS NY rev (3m)7.26%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-2.73%
Revenue NY rev (1m)-0.09%
Revenue NY rev (3m)-1.29%
Valuation
Industry RankSector Rank
PE 25.86
Fwd PE 18.96
P/S 3.79
P/FCF 17.58
P/OCF 17.58
P/B N/A
P/tB N/A
EV/EBITDA 29.63
EPS(TTM)1.6
EY3.87%
EPS(NY)2.18
Fwd EY5.27%
FCF(TTM)2.35
FCFY5.69%
OCF(TTM)2.35
OCFY5.69%
SpS10.92
BVpS-0.13
TBVpS-6.02
PEG (NY)3.47
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA 3.05%
ROE N/A
ROCE 11.96%
ROIC 9.83%
ROICexc 9.83%
ROICexgc 17.92%
OM 14.28%
PM (TTM) 5.46%
GM 73.41%
FCFM 21.55%
ROA(3y)5.81%
ROA(5y)1.95%
ROE(3y)8.71%
ROE(5y)2.96%
ROIC(3y)4.91%
ROIC(5y)N/A
ROICexc(3y)11.07%
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)5.97%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-3.74%
GM growth 5Y0.6%
F-Score5
Asset Turnover0.56
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 6.3
Debt/EBITDA 6.7
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 250
Cash Conversion 127.59%
Profit Quality 394.58%
Current Ratio 1.85
Quick Ratio 1.85
Altman-Z 0.26
F-Score5
WACC9.29%
ROIC/WACC1.06
Cap/Depr(3y)50.82%
Cap/Depr(5y)44.6%
Cap/Sales(3y)1.9%
Cap/Sales(5y)3.06%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)8.11%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%11.43%
EPS Next Y7.46%
EPS Next 2Y19.83%
EPS Next 3Y18.91%
EPS Next 5YN/A
Revenue 1Y (TTM)11.07%
Revenue growth 3Y47.65%
Revenue growth 5Y13.85%
Sales Q2Q%10.59%
Revenue Next Year13.41%
Revenue Next 2Y15.51%
Revenue Next 3Y17.36%
Revenue Next 5YN/A
EBIT growth 1Y27.46%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year29.66%
EBIT Next 3Y28.61%
EBIT Next 5YN/A
FCF growth 1Y30.73%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y30.73%
OCF growth 3Y210.31%
OCF growth 5YN/A

MAKEMYTRIP LTD / MMYT Fundamental Analysis FAQ

What is the ChartMill fundamental rating of MAKEMYTRIP LTD (MMYT) stock?

ChartMill assigns a fundamental rating of 4 / 10 to MMYT.


What is the valuation status of MAKEMYTRIP LTD (MMYT) stock?

ChartMill assigns a valuation rating of 3 / 10 to MAKEMYTRIP LTD (MMYT). This can be considered as Overvalued.


Can you provide the profitability details for MAKEMYTRIP LTD?

MAKEMYTRIP LTD (MMYT) has a profitability rating of 5 / 10.


What are the PE and PB ratios of MAKEMYTRIP LTD (MMYT) stock?

The Price/Earnings (PE) ratio for MAKEMYTRIP LTD (MMYT) is 25.86 and the Price/Book (PB) ratio is -328.11.


What is the earnings growth outlook for MAKEMYTRIP LTD?

The Earnings per Share (EPS) of MAKEMYTRIP LTD (MMYT) is expected to grow by 7.46% in the next year.