MAKEMYTRIP LTD (MMYT) Stock Fundamental Analysis

NASDAQ:MMYT • MU0295S00016

56.46 USD
-1.52 (-2.62%)
At close: Feb 27, 2026
56.47 USD
+0.01 (+0.02%)
After Hours: 2/27/2026, 4:10:14 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.
  • 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.
  • MMYT had a positive operating cash flow in each of the past 5 years.
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 has a better Return On Invested Capital (9.83%) than 70.63% of its industry peers.
  • MMYT had an Average Return On Invested Capital over the past 3 years of 4.91%. This is significantly below the industry average of 10.67%.
  • 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 line with its industry, outperforming 58.73% of the companies in the same industry.
  • MMYT has a better Operating Margin (14.28%) than 63.49% of its industry peers.
  • Looking at the Gross Margin, with a value of 73.41%, MMYT belongs to the top of the industry, outperforming 89.68% 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. 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.
  • MMYT has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for MMYT has been reduced compared to a year ago.
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 0.81, we must say that MMYT is in the distress zone and has some risk of bankruptcy.
  • MMYT's Altman-Z score of 0.81 is on the low side compared to the rest of the industry. MMYT is outperformed by 69.84% 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.
  • The Debt to FCF ratio of MMYT (6.30) is better than 72.22% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 6.3
Altman-Z 0.81
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

  • A Current Ratio of 1.85 indicates that MMYT should not have too much problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 1.85, MMYT belongs to the top of the industry, outperforming 80.95% 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 82.54% 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

  • The Earnings Per Share has grown by an nice 8.11% over the past year.
  • Looking at the last year, MMYT shows a quite strong growth in Revenue. The Revenue has grown by 11.07% in the last year.
  • 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

  • Based on estimates for the next years, MMYT will show a quite strong growth in Earnings Per Share. The EPS will grow by 18.91% on average per year.
  • Based on estimates for the next years, MMYT will show a quite strong growth in Revenue. The Revenue will grow by 17.67% on average per year.
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

  • 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. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 35.29, the valuation of MMYT can be described as expensive.
  • MMYT's Price/Earnings is on the same level as the industry average.
  • MMYT is valuated rather expensively when we compare the Price/Earnings ratio to 27.11, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 25.87 indicates a quite expensive valuation of MMYT.
  • The rest of the industry has a similar Price/Forward Earnings ratio as MMYT.
  • When comparing the Price/Forward Earnings ratio of MMYT to the average of the S&P500 Index (28.13), we can say MMYT is valued inline with the index average.
Industry RankSector Rank
PE 35.29
Fwd PE 25.87
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

  • MMYT's Enterprise Value to EBITDA ratio is rather expensive when compared to the industry. MMYT is more expensive than 82.54% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, MMYT is valued a bit cheaper than 62.70% of the companies in the same industry.
Industry RankSector Rank
P/FCF 23.99
EV/EBITDA 39.46
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.
  • A more expensive valuation may be justified as MMYT's earnings are expected to grow with 18.91% in the coming years.
PEG (NY)4.73
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

  • 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

MAKEMYTRIP LTD

NASDAQ:MMYT (2/27/2026, 4:10:14 PM)

After market: 56.47 +0.01 (+0.02%)

56.46

-1.52 (-2.62%)

Chartmill FA Rating
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)01-21
Earnings (Next)05-04
Inst Owners100.04%
Inst Owner Change0.78%
Ins Owners1.48%
Ins Owner ChangeN/A
Market Cap5.37B
Revenue(TTM)1.04B
Net Income(TTM)56.75M
Analysts85.88
Price Target106.19 (88.08%)
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)-5.88%
PT rev (3m)-12.03%
EPS NQ rev (1m)10.08%
EPS NQ rev (3m)-7.19%
EPS NY rev (1m)-3.53%
EPS NY rev (3m)17.43%
Revenue NQ rev (1m)1.43%
Revenue NQ rev (3m)-2.18%
Revenue NY rev (1m)0.7%
Revenue NY rev (3m)-1.53%
Valuation
Industry RankSector Rank
PE 35.29
Fwd PE 25.87
P/S 5.17
P/FCF 23.99
P/OCF 23.99
P/B N/A
P/tB N/A
EV/EBITDA 39.46
EPS(TTM)1.6
EY2.83%
EPS(NY)2.18
Fwd EY3.87%
FCF(TTM)2.35
FCFY4.17%
OCF(TTM)2.35
OCFY4.17%
SpS10.92
BVpS-0.13
TBVpS-6.02
PEG (NY)4.73
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 0.81
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 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.