MAKEMYTRIP LTD (MMYT) Stock Fundamental Analysis

USA • Nasdaq • NASDAQ:MMYT • MU0295S00016

57.09 USD
+1.63 (+2.94%)
At close: Feb 5, 2026
57.09 USD
0 (0%)
After Hours: 2/5/2026, 8:00:01 PM
Fundamental Rating

4

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. While showing a medium growth rate, MMYT is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • In the past year MMYT was profitable.
  • MMYT had a positive operating cash flow in the past year.
  • 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 56.06% of its industry peers.
  • 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.
  • MMYT had an Average Return On Invested Capital over the past 3 years of 4.91%. This is significantly below the industry average of 10.39%.
  • 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

  • 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's Operating Margin of 14.28% is fine compared to the rest of the industry. MMYT outperforms 66.67% of its industry peers.
  • With an excellent Gross Margin value of 73.41%, MMYT belongs to the best of the industry, outperforming 89.39% of the companies in the same industry.
  • 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.
  • 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
  • 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

  • Based on the Altman-Z score of 0.73, we must say that MMYT is in the distress zone and has some risk of bankruptcy.
  • MMYT has a worse Altman-Z score (0.73) than 70.45% 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 72.73% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 6.3
Altman-Z 0.73
ROIC/WACC1.04
WACC9.44%
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 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.
  • The Quick ratio of MMYT (1.85) is better than 83.33% of its industry peers.
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.
  • MMYT shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 11.07%.
  • Measured over the past years, MMYT shows a quite strong growth in Revenue. The Revenue has been growing by 13.85% on average per year.
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 16.03% on average over the next years. This is quite good.
  • The Revenue is expected to grow by 17.29% on average over the next years. This is quite good.
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.
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

More info and screens

Find the best growth stocksShow best growing peers

2

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 35.68 indicates a quite expensive valuation of MMYT.
  • Compared to the rest of the industry, the Price/Earnings ratio of MMYT is on the same level as its industry peers.
  • Compared to an average S&P500 Price/Earnings ratio of 27.67, MMYT is valued a bit more expensive.
  • With a Price/Forward Earnings ratio of 28.62, MMYT can be considered very expensive at the moment.
  • The rest of the industry has a similar Price/Forward Earnings ratio as MMYT.
  • MMYT is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 27.20, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 35.68
Fwd PE 28.62
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

  • Based on the Enterprise Value to EBITDA ratio, MMYT is valued a bit more expensive than the industry average as 78.79% of the companies are valued more cheaply.
  • Based on the Price/Free Cash Flow ratio, MMYT is valued a bit cheaper than 68.18% of the companies in the same industry.
Industry RankSector Rank
P/FCF 24.26
EV/EBITDA 38.1
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 16.03% in the coming years. This may justify a more expensive valuation.
PEG (NY)3.13
PEG (5Y)N/A
EPS Next 2Y14.56%
EPS Next 3Y16.03%

More info and screens

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

0

5. Dividend

5.1 Amount

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

More info and screens

Find the best dividend stocksShow peers with best dividend

MAKEMYTRIP LTD

NASDAQ:MMYT (2/5/2026, 8:00:01 PM)

After market: 57.09 0 (0%)

57.09

+1.63 (+2.94%)

Chartmill FA Rating
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)01-21
Earnings (Next)N/A
Inst Owners100.04%
Inst Owner Change-1.1%
Ins Owners1.48%
Ins Owner ChangeN/A
Market Cap5.43B
Revenue(TTM)1.04B
Net Income(TTM)56.75M
Analysts85.88
Price Target112.82 (97.62%)
Short Float %6.93%
Short Ratio4.08
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)-0.9%
PT rev (3m)-6.54%
EPS NQ rev (1m)-15.69%
EPS NQ rev (3m)10.35%
EPS NY rev (1m)11.19%
EPS NY rev (3m)1.95%
Revenue NQ rev (1m)-3.22%
Revenue NQ rev (3m)-6.02%
Revenue NY rev (1m)-1.2%
Revenue NY rev (3m)-4.24%
Valuation
Industry RankSector Rank
PE 35.68
Fwd PE 28.62
P/S 5.23
P/FCF 24.26
P/OCF 24.26
P/B N/A
P/tB N/A
EV/EBITDA 38.1
EPS(TTM)1.6
EY2.8%
EPS(NY)1.99
Fwd EY3.49%
FCF(TTM)2.35
FCFY4.12%
OCF(TTM)2.35
OCFY4.12%
SpS10.92
BVpS-0.13
TBVpS-6.02
PEG (NY)3.13
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 0.73
F-Score5
WACC9.44%
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 Y11.39%
EPS Next 2Y14.56%
EPS Next 3Y16.03%
EPS Next 5YN/A
Revenue 1Y (TTM)11.07%
Revenue growth 3Y47.65%
Revenue growth 5Y13.85%
Sales Q2Q%10.59%
Revenue Next Year13.51%
Revenue Next 2Y15.56%
Revenue Next 3Y17.29%
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 11.39% in the next year.