(MMYT) MakeMyTrip - Ratings and Ratios
Air Tickets, Hotel Booking, Holiday Packages, Bus Tickets
EPS (Earnings per Share)
Revenue
Dividends
Currently no dividends paid| Risk via 5d forecast | |
|---|---|
| Volatility | 51.7% |
| Value at Risk 5%th | 77.6% |
| Relative Tail Risk | -8.72% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.63 |
| Alpha | -50.98 |
| CAGR/Max DD | 1.00 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.389 |
| Beta | 1.089 |
| Beta Downside | 1.272 |
| Drawdowns 3y | |
|---|---|
| Max DD | 42.01% |
| Mean DD | 11.85% |
| Median DD | 10.87% |
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 (76.5m TTM) > 0 and > 6% of Revenue (6% = 60.7m TTM) |
| FCFTA 0.09 (>2.0%) and ΔFCFTA -0.71pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 53.61% (prev 72.81%; Δ -19.20pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.09 (>3.0%) and CFO 167.8m > Net Income 76.5m (YES >=105%, WARN >=100%) |
| Net Debt (1.14b) to EBITDA (181.2m) ratio: 6.28 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.91 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (98.0m) change vs 12m ago -14.60% (target <= -2.0% for YES) |
| Gross Margin 73.70% (prev 71.67%; Δ 2.03pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 55.61% (prev 49.60%; Δ 6.01pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 2.11 (EBITDA TTM 181.2m / Interest Expense TTM 72.8m) >= 6 (WARN >= 3) |
Altman Z'' -3.95
| (A) 0.29 = (Total Current Assets 1.13b - Total Current Liabilities 592.6m) / Total Assets 1.86b |
| (B) -1.52 = Retained Earnings (Balance) -2.83b / Total Assets 1.86b |
| warn (B) unusual magnitude: -1.52 — check mapping/units |
| (C) 0.08 = EBIT TTM 153.3m / Avg Total Assets 1.82b |
| (D) -1.40 = Book Value of Equity -2.93b / Total Liabilities 2.10b |
| Total Rating: -3.95 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 62.49
| 1. Piotroski 6.0pt |
| 2. FCF Yield 1.93% |
| 3. FCF Margin 16.60% |
| 4. Debt/Equity -6.71 |
| 5. Debt/Ebitda 6.28 |
| 6. ROIC - WACC (= 0.32)% |
| 7. RoE 13.93% |
| 8. Rev. Trend 91.97% |
| 9. EPS Trend 58.39% |
What is the price of MMYT shares?
Over the past week, the price has changed by -3.96%, over one month by +9.68%, over three months by -16.71% and over the past year by -26.09%.
Is MMYT a buy, sell or hold?
- Strong Buy: 5
- Buy: 4
- Hold: 1
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the MMYT price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 110.7 | 40.8% |
| Analysts Target Price | 110.7 | 40.8% |
| ValueRay Target Price | 96.5 | 22.7% |
MMYT Fundamental Data Overview January 10, 2026
P/S = 7.7651
P/B = 310.3313
P/EG = -0.21
Beta = 0.654
Revenue TTM = 1.01b USD
EBIT TTM = 153.3m USD
EBITDA TTM = 181.2m USD
Long Term Debt = 1.16b USD (from longTermDebt, last quarter)
Short Term Debt = 230.7m USD (from shortTermDebt, last quarter)
Debt = 1.66b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.14b USD (from netDebt column, last quarter)
Enterprise Value = 8.68b USD (7.85b + Debt 1.66b - CCE 829.8m)
Interest Coverage Ratio = 2.11 (Ebit TTM 153.3m / Interest Expense TTM 72.8m)
EV/FCF = 51.72x (Enterprise Value 8.68b / FCF TTM 167.8m)
FCF Yield = 1.93% (FCF TTM 167.8m / Enterprise Value 8.68b)
FCF Margin = 16.60% (FCF TTM 167.8m / Revenue TTM 1.01b)
Net Margin = 7.57% (Net Income TTM 76.5m / Revenue TTM 1.01b)
Gross Margin = 73.70% ((Revenue TTM 1.01b - Cost of Revenue TTM 265.9m) / Revenue TTM)
Gross Margin QoQ = 77.54% (prev 72.15%)
Tobins Q-Ratio = 4.68 (Enterprise Value 8.68b / Total Assets 1.86b)
Interest Expense / Debt = 2.60% (Interest Expense 43.1m / Debt 1.66b)
Taxrate = 17.79% (20.6m / 115.9m)
NOPAT = 126.0m (EBIT 153.3m * (1 - 17.79%))
Current Ratio = 1.91 (Total Current Assets 1.13b / Total Current Liabilities 592.6m)
Debt / Equity = -6.71 (negative equity) (Debt 1.66b / totalStockholderEquity, last quarter -247.3m)
Debt / EBITDA = 6.28 (Net Debt 1.14b / EBITDA 181.2m)
Debt / FCF = 6.78 (Net Debt 1.14b / FCF TTM 167.8m)
Total Stockholder Equity = 549.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.21% (Net Income 76.5m / Total Assets 1.86b)
RoE = 13.93% (Net Income TTM 76.5m / Total Stockholder Equity 549.5m)
RoCE = 8.99% (EBIT 153.3m / Capital Employed (Equity 549.5m + L.T.Debt 1.16b))
RoIC = 8.89% (NOPAT 126.0m / Invested Capital 1.42b)
WACC = 8.57% (E(7.85b)/V(9.51b) * Re(9.93%) + D(1.66b)/V(9.51b) * Rd(2.60%) * (1-Tc(0.18)))
Discount Rate = 9.93% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -6.75%
[DCF Debug] Terminal Value 75.86% ; FCFF base≈170.1m ; Y1≈168.2m ; Y5≈174.2m
Fair Price DCF = 18.09 (EV 2.76b - Net Debt 1.14b = Equity 1.63b / Shares 89.9m; r=8.57% [WACC]; 5y FCF grow -1.87% → 2.90% )
EPS Correlation: 58.39 | EPS CAGR: 12.43% | SUE: -1.58 | # QB: 0
Revenue Correlation: 91.97 | Revenue CAGR: 20.20% | SUE: -2.30 | # QB: 0
EPS current Year (2026-03-31): EPS=1.70 | Chg30d=-0.030 | Revisions Net=-1 | Growth EPS=+9.2% | Growth Revenue=+13.5%
EPS next Year (2027-03-31): EPS=2.16 | Chg30d=-0.020 | Revisions Net=+1 | Growth EPS=+27.0% | Growth Revenue=+19.1%
Additional Sources for MMYT Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle