Overall MMYT gets a fundamental rating of 4 out of 10. We evaluated MMYT against 132 industry peers in the Hotels, Restaurants & Leisure industry. Both the profitability and the financial health of MMYT get a neutral evaluation. Nothing too spectacular is happening here. MMYT is quite expensive at the moment. It does show a decent growth rate.

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1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

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.
MMYT had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

Looking at the Return On Assets, with a value of 3.05%, MMYT is in line with its industry, outperforming 56.06% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 9.83%, MMYT is in the better half of the industry, outperforming 71.97% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for MMYT is significantly below the industry average of 10.37%.
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 Rank	Sector 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

1.3 Margins

Looking at the Profit Margin, with a value of 5.46%, MMYT is in the better half of the industry, outperforming 60.61% of the companies in the same industry.
MMYT has a Operating Margin of 14.28%. This is in the better half of the industry: MMYT outperforms 66.67% of its industry peers.
Looking at the Gross Margin, with a value of 73.41%, MMYT belongs to the top of the industry, outperforming 89.39% of the companies in the same industry.
MMYT's Gross Margin has been stable in the last couple of years.

		Industry Rank	Sector 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%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so MMYT is still creating some value.
The number of shares outstanding for MMYT has been increased compared to 1 year ago.
Compared to 5 years ago, MMYT has more shares outstanding
The debt/assets ratio for MMYT has been reduced compared to a year ago.

2.2 Solvency

Based on the Altman-Z score of 0.88, we must say that MMYT is in the distress zone and has some risk of bankruptcy.
MMYT has a worse Altman-Z score (0.88) than 67.42% of its industry peers.
The Debt to FCF ratio of MMYT is 6.30, which is on the high side as it means it would take MMYT, 6.30 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of MMYT (6.30) is better than 72.73% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	N/A
Debt/FCF	6.3
Altman-Z	0.88

ROIC/WACC1.04

WACC9.46%

2.3 Liquidity

A Current Ratio of 1.85 indicates that MMYT should not have too much problems paying its short term obligations.
With an excellent Current ratio value of 1.85, MMYT belongs to the best of the industry, outperforming 81.82% of the companies in the same industry.
A Quick Ratio of 1.85 indicates that MMYT should not have too much problems paying its short term obligations.
With an excellent Quick ratio value of 1.85, MMYT belongs to the best of the industry, outperforming 83.33% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	1.85
Quick Ratio	1.85

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 8.11% over the past year.
The Revenue has grown by 11.07% in the past year. This is quite good.
The Revenue has been growing by 13.85% on average over the past years. This is quite good.

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 16.03% yearly.
MMYT is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 17.29% yearly.

EPS Next Y11.39%

EPS Next 2Y14.56%

EPS Next 3Y16.03%

EPS Next 5YN/A

Revenue Next Year13.51%

Revenue Next 2Y15.56%

Revenue Next 3Y17.29%

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.

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4. Valuation

4.1 Price/Earnings Ratio

MMYT is valuated quite expensively with a Price/Earnings ratio of 38.79.
Compared to the rest of the industry, the Price/Earnings ratio of MMYT is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 28.39. MMYT is valued slightly more expensive when compared to this.
Based on the Price/Forward Earnings ratio of 31.11, the valuation of MMYT can be described as expensive.
MMYT's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of MMYT to the average of the S&P500 Index (25.72), we can say MMYT is valued slightly more expensively.

		Industry Rank	Sector Rank
PE	38.79
Fwd PE	31.11

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, MMYT is valued a bit more expensive than the industry average as 79.55% of the companies are valued more cheaply.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of MMYT indicates a somewhat cheap valuation: MMYT is cheaper than 65.15% of the companies listed in the same industry.

		Industry Rank	Sector Rank
P/FCF	26.37
EV/EBITDA	40.71

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates MMYT does not grow enough to justify the current Price/Earnings ratio.
A more expensive valuation may be justified as MMYT's earnings are expected to grow with 16.03% in the coming years.