MAKEMYTRIP LTD (MMYT) Stock Fundamental Analysis

NASDAQ:MMYT • MU0295S00016

56 USD
+0.16 (+0.29%)
At close: Feb 20, 2026
56 USD
0 (0%)
After Hours: 2/20/2026, 8:00:01 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

MMYT gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 126 industry peers in the Hotels, Restaurants & Leisure industry. MMYT has an average financial health and profitability rating. MMYT is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • MMYT had positive earnings in the past year.
  • In the past year MMYT had a positive cash flow from operations.
  • The reported net income has been mixed in the past 5 years: MMYT reported negative net income in multiple 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

  • MMYT's Return On Assets of 3.05% is in line compared to the rest of the industry. MMYT outperforms 55.56% of its industry peers.
  • MMYT's Return On Invested Capital of 9.83% is fine compared to the rest of the industry. MMYT outperforms 69.84% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for MMYT is significantly below the industry average of 10.58%.
  • 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 Profit Margin (5.46%) which is comparable to the rest of the industry.
  • MMYT has a better Operating Margin (14.28%) than 63.49% of its industry peers.
  • The Gross Margin of MMYT (73.41%) is better than 89.68% of its industry peers.
  • In the last couple of years the Gross Margin of MMYT has remained more or less at the same level.
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. Health

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.
  • MMYT has more shares outstanding than it did 1 year ago.
  • MMYT has more shares outstanding than it did 5 years ago.
  • MMYT has a better debt/assets ratio than last year.
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 0.74. 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 0.74 is on the low side compared to the rest of the industry. MMYT is outperformed by 73.02% 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's Debt to FCF ratio of 6.30 is fine compared to the rest of the industry. MMYT outperforms 70.63% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 6.3
Altman-Z 0.74
ROIC/WACC1.04
WACC9.43%
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

  • A Current Ratio of 1.85 indicates that MMYT should not have too much problems paying its short term obligations.
  • MMYT has a Current ratio of 1.85. This is amongst the best in the industry. MMYT outperforms 80.16% of its industry peers.
  • A Quick Ratio of 1.85 indicates that MMYT should not have too much problems paying 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. Growth

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.
  • Looking at the last year, MMYT shows a quite strong growth in Revenue. The Revenue has grown by 11.07% in the last year.
  • 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

  • The Earnings Per Share is expected to grow by 18.91% on average over the next years. This is quite good.
  • MMYT is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 17.67% yearly.
EPS Next Y7.46%
EPS Next 2Y19.83%
EPS Next 3Y18.91%
EPS Next 5YN/A
Revenue Next Year14.3%
Revenue Next 2Y15.81%
Revenue Next 3Y17.67%
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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Find the best growth stocksShow best growing peers

2

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 35.00, MMYT can be considered very expensive at the moment.
  • MMYT's Price/Earnings ratio is in line with the industry average.
  • When comparing the Price/Earnings ratio of MMYT to the average of the S&P500 Index (26.99), we can say MMYT is valued slightly more expensively.
  • With a Price/Forward Earnings ratio of 25.66, MMYT can be considered very expensive at the moment.
  • MMYT's Price/Forward Earnings is on the same level as the industry average.
  • MMYT is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 28.06, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 35
Fwd PE 25.66
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 rather expensive valuation: MMYT more expensive than 81.75% of the companies listed in the same industry.
  • 62.70% 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 23.79
EV/EBITDA 38.3
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.
  • MMYT's earnings are expected to grow with 18.91% in the coming years. This may justify a more expensive valuation.
PEG (NY)4.69
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. Dividend

5.1 Amount

  • No dividends for MMYT!.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

MAKEMYTRIP LTD

NASDAQ:MMYT (2/20/2026, 8:00:01 PM)

After market: 56 0 (0%)

56

+0.16 (+0.29%)

Chartmill FA Rating
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)01-21
Earnings (Next)05-04
Inst Owners100.04%
Inst Owner Change5.13%
Ins Owners1.48%
Ins Owner ChangeN/A
Market Cap5.33B
Revenue(TTM)1.04B
Net Income(TTM)56.75M
Analysts85.88
Price Target106.19 (89.63%)
Short Float %8.25%
Short Ratio3.46
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)-6.72%
PT rev (3m)-12.03%
EPS NQ rev (1m)-5.33%
EPS NQ rev (3m)-7.19%
EPS NY rev (1m)-3.53%
EPS NY rev (3m)17.43%
Revenue NQ rev (1m)-0.51%
Revenue NQ rev (3m)-2.18%
Revenue NY rev (1m)-0.34%
Revenue NY rev (3m)-1.53%
Valuation
Industry RankSector Rank
PE 35
Fwd PE 25.66
P/S 5.13
P/FCF 23.79
P/OCF 23.79
P/B N/A
P/tB N/A
EV/EBITDA 38.3
EPS(TTM)1.6
EY2.86%
EPS(NY)2.18
Fwd EY3.9%
FCF(TTM)2.35
FCFY4.2%
OCF(TTM)2.35
OCFY4.2%
SpS10.92
BVpS-0.13
TBVpS-6.02
PEG (NY)4.69
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 0.74
F-Score5
WACC9.43%
ROIC/WACC1.04
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 Year14.3%
Revenue Next 2Y15.81%
Revenue Next 3Y17.67%
Revenue Next 5YN/A
EBIT growth 1Y27.46%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year30.46%
EBIT Next 3Y29.72%
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 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 2 / 10 to MAKEMYTRIP LTD (MMYT). This can be considered as Overvalued.


How profitable is MAKEMYTRIP LTD (MMYT) stock?

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


How financially healthy is MAKEMYTRIP LTD?

The financial health rating of MAKEMYTRIP LTD (MMYT) is 4 / 10.


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.