(MMYT) MakeMyTrip - Overview
Stock: Air Tickets, Hotel Booking, Holiday Packages, Bus Tickets
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 64.8% |
| Relative Tail Risk | -7.83% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.22 |
| Alpha | -65.45 |
| Character TTM | |
|---|---|
| Beta | 1.032 |
| Beta Downside | 1.131 |
| Drawdowns 3y | |
|---|---|
| Max DD | 53.96% |
| CAGR/Max DD | 0.59 |
Description: MMYT MakeMyTrip January 06, 2026
MakeMyTrip Limited (NASDAQ: MMYT) is a Gurugram-based travel-services platform that operates across India, the United States, Southeast Asia, the Middle East and Latin America under the MakeMyTrip, Goibibo and redBus brands.
The business is organized into three segments-Air Ticketing, Hotels, and Packages & Bus Ticketing-and offers a breadth of products including flights, hotel rooms, bus and rail tickets, car rentals, activities, travel insurance, foreign-currency exchange and visa services.
Customers can book via the company’s primary websites (makemytrip.com, goibibo.com, redbus.in, makemytrip.ae), mobile apps, call centres, franchise travel stores and a network of travel agents, serving both leisure travelers and corporate clients.
Key recent metrics (FY 2023) show a 24 % YoY increase in gross merchandise value (GMV) to $9.6 bn, driven by a 31 % rise in domestic hotel bookings and a 19 % uplift in air-ticket transactions; the firm’s take-rate improved to 2.8 % as it shifted toward higher-margin ancillary services.
Sector-level drivers include India’s expanding middle class, rising internet penetration (≈75 % of the population online) and a rebound in outbound travel as the rupee stabilises against the dollar, which together underpin a projected 12 % CAGR for the Indian online travel market through 2027.
For a deeper quantitative assessment, you may explore ValueRay’s analytics platform to benchmark MMYT against peers.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income: 56.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA 7.03 > 1.0 |
| NWC/Revenue: 50.82% < 20% (prev 73.15%; Δ -22.34% < -1%) |
| CFO/TA 0.12 > 3% & CFO 223.9m > Net Income 56.8m |
| Net Debt (1.25b) to EBITDA (187.8m): 6.65 < 3 |
| Current Ratio: 1.85 > 1.5 & < 3 |
| Outstanding Shares: last quarter (99.3m) vs 12m ago -13.97% < -2% |
| Gross Margin: 73.41% > 18% (prev 0.72%; Δ 7269 % > 0.5%) |
| Asset Turnover: 56.61% > 50% (prev 51.64%; Δ 4.98% > 0%) |
| Interest Coverage Ratio: 1.67 > 6 (EBITDA TTM 187.8m / Interest Expense TTM 95.9m) |
Altman Z'' -3.93
| A: 0.28 (Total Current Assets 1.15b - Total Current Liabilities 617.9m) / Total Assets 1.86b |
| B: -1.52 (Retained Earnings -2.82b / Total Assets 1.86b) |
| C: 0.09 (EBIT TTM 159.7m / Avg Total Assets 1.84b) |
| D: -1.37 (Book Value of Equity -2.93b / Total Liabilities 2.14b) |
| Altman-Z'' Score: -3.93 = D |
Beneish M -3.11
| DSRI: 1.00 (Receivables 169.9m/152.8m, Revenue 1.04b/935.8m) |
| GMI: 0.98 (GM 73.41% / 71.67%) |
| AQI: 0.91 (AQ_t 0.37 / AQ_t-1 0.41) |
| SGI: 1.11 (Revenue 1.04b / 935.8m) |
| TATA: -0.09 (NI 56.8m - CFO 223.9m) / TA 1.86b) |
| Beneish M-Score: -3.11 (Cap -4..+1) = AA |
What is the price of MMYT shares?
Over the past week, the price has changed by -6.98%, over one month by -24.74%, over three months by -22.79% and over the past year by -46.59%.
Is MMYT a buy, sell or hold?
- StrongBuy: 5
- Buy: 4
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the MMYT price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 102.9 | 73.8% |
| Analysts Target Price | 102.9 | 73.8% |
| ValueRay Target Price | 67.2 | 13.5% |
MMYT Fundamental Data Overview February 09, 2026
P/S = 5.2273
P/B = 158.8709
P/EG = -0.21
Revenue TTM = 1.04b USD
EBIT TTM = 159.7m USD
EBITDA TTM = 187.8m USD
Long Term Debt = 1.18b USD (from longTermDebt, last quarter)
Short Term Debt = 234.8m USD (from shortTermDebt, last quarter)
Debt = 1.68b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.25b USD (from netDebt column, last quarter)
Enterprise Value = 6.30b USD (5.43b + Debt 1.68b - CCE 814.1m)
Interest Coverage Ratio = 1.67 (Ebit TTM 159.7m / Interest Expense TTM 95.9m)
EV/FCF = 28.14x (Enterprise Value 6.30b / FCF TTM 223.9m)
FCF Yield = 3.55% (FCF TTM 223.9m / Enterprise Value 6.30b)
FCF Margin = 21.55% (FCF TTM 223.9m / Revenue TTM 1.04b)
Net Margin = 5.46% (Net Income TTM 56.8m / Revenue TTM 1.04b)
Gross Margin = 73.41% ((Revenue TTM 1.04b - Cost of Revenue TTM 276.4m) / Revenue TTM)
Gross Margin QoQ = 70.28% (prev 77.54%)
Tobins Q-Ratio = 3.39 (Enterprise Value 6.30b / Total Assets 1.86b)
Interest Expense / Debt = 2.05% (Interest Expense 34.5m / Debt 1.68b)
Taxrate = 44.63% (5.87m / 13.2m)
NOPAT = 88.4m (EBIT 159.7m * (1 - 44.63%))
Current Ratio = 1.85 (Total Current Assets 1.15b / Total Current Liabilities 617.9m)
Debt / Equity = -5.93 (negative equity) (Debt 1.68b / totalStockholderEquity, last quarter -283.6m)
Debt / EBITDA = 6.65 (Net Debt 1.25b / EBITDA 187.8m)
Debt / FCF = 5.58 (Net Debt 1.25b / FCF TTM 223.9m)
Total Stockholder Equity = 182.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.09% (Net Income 56.8m / Total Assets 1.86b)
RoE = 31.18% (Net Income TTM 56.8m / Total Stockholder Equity 182.0m)
RoCE = 11.76% (EBIT 159.7m / Capital Employed (Equity 182.0m + L.T.Debt 1.18b))
RoIC = 6.26% (NOPAT 88.4m / Invested Capital 1.41b)
WACC = 7.69% (E(5.43b)/V(7.12b) * Re(9.72%) + D(1.68b)/V(7.12b) * Rd(2.05%) * (1-Tc(0.45)))
Discount Rate = 9.72% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -6.11%
[DCF Debug] Terminal Value 82.27% ; FCFF base≈170.7m ; Y1≈210.6m ; Y5≈358.7m
Fair Price DCF = 58.25 (EV 6.47b - Net Debt 1.25b = Equity 5.22b / Shares 89.6m; r=7.69% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: 83.81 | EPS CAGR: 77.32% | SUE: 1.94 | # QB: 2
Revenue Correlation: 91.88 | Revenue CAGR: 21.44% | SUE: -0.65 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.55 | Chg30d=+0.000 | Revisions Net=+0 | Analysts=1
EPS next Year (2027-03-31): EPS=2.20 | Chg30d=+0.013 | Revisions Net=-3 | Growth EPS=+31.9% | Growth Revenue=+17.4%