MAKEMYTRIP LTD (MMYT) Fundamental Analysis & Valuation

NASDAQ:MMYT • MU0295S00016

47.36 USD
-1.27 (-2.61%)
Last: Mar 11, 2026, 02:44 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

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

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to MMYT. MMYT was compared to 126 industry peers in the Hotels, Restaurants & Leisure industry. MMYT has an average financial health and profitability rating. MMYT is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

5

1. MMYT Profitability Analysis

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.
  • In the past 5 years MMYT always reported a positive cash flow from operatings.
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

  • With a Return On Assets value of 3.05%, MMYT perfoms like the industry average, outperforming 57.14% of the companies in the same industry.
  • MMYT's Return On Invested Capital of 9.83% is fine compared to the rest of the industry. MMYT outperforms 70.63% 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 10.49%.
  • 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 61.11% of its industry peers.
  • With a decent Operating Margin value of 14.28%, MMYT is doing good in the industry, outperforming 62.70% of the companies in the same industry.
  • Looking at the Gross Margin, with a value of 73.41%, MMYT belongs to the top of the industry, outperforming 89.68% 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. MMYT Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), MMYT 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.
  • 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

  • Based on the Altman-Z score of 0.52, we must say that MMYT is in the distress zone and has some risk of bankruptcy.
  • With a Altman-Z score value of 0.52, MMYT is not doing good in the industry: 76.19% of the companies in the same industry are doing better.
  • 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 71.43% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 6.3
Altman-Z 0.52
ROIC/WACC1.05
WACC9.38%
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.
  • MMYT has a better Current ratio (1.85) than 81.75% of its industry peers.
  • A Quick Ratio of 1.85 indicates that MMYT should not have too much problems paying its short term obligations.
  • MMYT has a better Quick ratio (1.85) than 82.54% 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. 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.
  • Looking at the last year, MMYT shows a quite strong growth in Revenue. The Revenue has grown by 11.07% in the last year.
  • 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

  • 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 17.33% yearly.
EPS Next Y7.46%
EPS Next 2Y19.83%
EPS Next 3Y18.91%
EPS Next 5YN/A
Revenue Next Year13.51%
Revenue Next 2Y15.6%
Revenue Next 3Y17.33%
Revenue Next 5YN/A

3.3 Evolution

  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
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. MMYT Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 29.60, which means the current valuation is very expensive for MMYT.
  • The rest of the industry has a similar Price/Earnings ratio as MMYT.
  • MMYT is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.25, which is the current average of the S&P500 Index.
  • MMYT is valuated rather expensively with a Price/Forward Earnings ratio of 21.70.
  • MMYT's Price/Forward Earnings ratio is in line with the industry average.
  • When comparing the Price/Forward Earnings ratio of MMYT to the average of the S&P500 Index (24.39), we can say MMYT is valued inline with the index average.
Industry RankSector Rank
PE 29.6
Fwd PE 21.7
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

  • 79.37% of the companies in the same industry are cheaper than MMYT, based on the Enterprise Value to EBITDA ratio.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of MMYT indicates a somewhat cheap valuation: MMYT is cheaper than 67.46% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 20.12
EV/EBITDA 34.4
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 MMYT does not grow enough to justify the current Price/Earnings ratio.
  • MMYT's earnings are expected to grow with 18.91% in the coming years. This may justify a more expensive valuation.
PEG (NY)3.97
PEG (5Y)N/A
EPS Next 2Y19.83%
EPS Next 3Y18.91%

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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 (3/11/2026, 2:44:43 PM)

47.36

-1.27 (-2.61%)

Chartmill FA Rating
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)01-21
Earnings (Next)05-04
Inst Owners98.27%
Inst Owner Change0.86%
Ins Owners0.34%
Ins Owner ChangeN/A
Market Cap4.51B
Revenue(TTM)1.04B
Net Income(TTM)56.75M
Analysts85.88
Price Target105.17 (122.07%)
Short Float %9.63%
Short Ratio4.09
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)-0.96%
PT rev (3m)-8.03%
EPS NQ rev (1m)1.79%
EPS NQ rev (3m)-7.19%
EPS NY rev (1m)0%
EPS NY rev (3m)17.43%
Revenue NQ rev (1m)-0.91%
Revenue NQ rev (3m)-3.06%
Revenue NY rev (1m)-0.69%
Revenue NY rev (3m)-1.88%
Valuation
Industry RankSector Rank
PE 29.6
Fwd PE 21.7
P/S 4.34
P/FCF 20.12
P/OCF 20.12
P/B N/A
P/tB N/A
EV/EBITDA 34.4
EPS(TTM)1.6
EY3.38%
EPS(NY)2.18
Fwd EY4.61%
FCF(TTM)2.35
FCFY4.97%
OCF(TTM)2.35
OCFY4.97%
SpS10.92
BVpS-0.13
TBVpS-6.02
PEG (NY)3.97
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 0.52
F-Score5
WACC9.38%
ROIC/WACC1.05
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 Year13.51%
Revenue Next 2Y15.6%
Revenue Next 3Y17.33%
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 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.