(MMYT) MakeMyTrip - Ratings and Ratios
Flights, Hotels, Packages, Bus, Rail
EPS (Earnings per Share)
Revenue
| Risk via 10d forecast | |
|---|---|
| Volatility | 38.2% |
| Value at Risk 5%th | 56.4% |
| Relative Tail Risk | -10.20% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.53 |
| Alpha | -40.67 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.319 |
| Beta | 1.159 |
| Beta Downside | 1.356 |
| Drawdowns 3y | |
|---|---|
| Max DD | 38.90% |
| Mean DD | 10.53% |
| Median DD | 9.05% |
Description: MMYT MakeMyTrip November 03, 2025
MakeMyTrip Limited (NASDAQ: MMYT) is a Gurugram-based online travel platform that serves leisure and corporate customers across India and 11 international markets, including the United States, Southeast Asia, the Middle East, and Latin America. Its portfolio of brands-MakeMyTrip, Goibibo, and redBus-offers end-to-end booking for air tickets, hotels, packaged tours, bus and rail tickets, car rentals, and ancillary services such as travel insurance, foreign-exchange, and visa assistance.
The company structures its operations into three primary segments: Air Ticketing, Hotels, and Packages & Bus Ticketing. Distribution is omni-channel, combining proprietary websites (makemytrip.com, goibibo.com, redbus.in, makemytrip.ae), mobile apps, call centers, franchised travel stores, and a network of travel agents, enabling travelers to research, plan, and purchase a full suite of travel products in a single transaction flow.
Recent performance indicators suggest the business is benefitting from a post-pandemic travel rebound: FY 2023 reported revenue of approximately $1.2 billion, a 28 % YoY increase in gross merchandise value (GMV), and a 12 % rise in active users to roughly 45 million. Key economic drivers include rising disposable income in Tier-1 and Tier-2 Indian cities, accelerated internet penetration, and a favorable regulatory environment for digital payments-all of which underpin the broader online travel sector’s double-digit growth trajectory.
For a data-driven, deeper dive into MMYT’s valuation assumptions and scenario analysis, the ValueRay research hub offers a concise, quantitative framework worth reviewing.
MMYT Stock Overview
| Market Cap in USD | 7,425m |
| Sub-Industry | Hotels, Resorts & Cruise Lines |
| IPO / Inception | 2010-08-12 |
| Return 12m vs S&P 500 | -37.1% |
| Analyst Rating | 4.40 of 5 |
MMYT Dividends
Currently no dividends paidMMYT Growth Ratios
| Metric | Value |
|---|---|
| CAGR 3y | 36.91% |
| CAGR/Max DD Calmar Ratio | 0.95 |
| CAGR/Mean DD Pain Ratio | 3.51 |
| Current Volume | 823.9k |
| Average Volume | 886.1k |
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income (76.5m TTM) > 0 and > 6% of Revenue (6% = 60.7m TTM) |
| FCFTA 0.06 (>2.0%) and ΔFCFTA -4.37pp (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 167.0m > 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 64.32% (prev 55.67%; Δ 8.65pp) >=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) 72.61
| 1. Piotroski 6.0pt = 1.0 |
| 2. FCF Yield 1.44% = 0.72 |
| 3. FCF Margin 11.79% = 2.95 |
| 4. Debt/Equity -6.71 = -2.50 |
| 5. Debt/Ebitda 6.28 = -2.50 |
| 6. ROIC - WACC (= 26.91)% = 12.50 |
| 7. RoE 15.90% = 1.32 |
| 8. Rev. Trend 82.99% = 6.22 |
| 9. EPS Trend 57.83% = 2.89 |
What is the price of MMYT shares?
Over the past week, the price has changed by -4.79%, over one month by -18.88%, over three months by -27.50% and over the past year by -28.54%.
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 | 113.8 | 54.6% |
| Analysts Target Price | 113.8 | 54.6% |
| ValueRay Target Price | 80.6 | 9.5% |
MMYT Fundamental Data Overview November 11, 2025
P/E Trailing = 114.7647
P/S = 7.3444
P/B = 158.8709
P/EG = -0.21
Beta = 0.691
Revenue TTM = 1.01b USD
EBIT TTM = 153.3m USD
EBITDA TTM = 181.2m USD
Long Term Debt = 3.12m USD (from longTermDebt, last fiscal year)
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 = 8.26b USD (7.43b + Debt 1.66b - CCE 829.8m)
Interest Coverage Ratio = 2.11 (Ebit TTM 153.3m / Interest Expense TTM 72.8m)
FCF Yield = 1.44% (FCF TTM 119.2m / Enterprise Value 8.26b)
FCF Margin = 11.79% (FCF TTM 119.2m / Revenue TTM 1.01b)
Net Margin = 7.57% (Net Income TTM 76.5m / Revenue TTM 1.01b)
Gross Margin = 64.32% ((Revenue TTM 1.01b - Cost of Revenue TTM 360.7m) / Revenue TTM)
Gross Margin QoQ = 56.87% (prev 54.52%)
Tobins Q-Ratio = 4.45 (Enterprise Value 8.26b / Total Assets 1.86b)
Interest Expense / Debt = 2.60% (Interest Expense 43.1m / Debt 1.66b)
Taxrate = -296.5% (out of range, set to none) (4.29m / -1.45m)
NOPAT = unknown (EBIT/Op.Income or Taxrate missing)
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 = 9.55 (Net Debt 1.14b / FCF TTM 119.2m)
Total Stockholder Equity = 481.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.12% (Net Income 76.5m / Total Assets 1.86b)
RoE = 15.90% (Net Income TTM 76.5m / Total Stockholder Equity 481.3m)
RoCE = 31.65% (EBIT 153.3m / Capital Employed (Equity 481.3m + L.T.Debt 3.12m))
RoIC = 35.32% (EBIT 153.3m / (Assets 1.86b - Curr.Liab 592.6m - Cash 829.8m))
WACC = 8.41% (E(7.43b)/V(9.09b) * Re(10.29%) + (debt cost/tax rate unavailable))
Discount Rate = 10.29% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -6.75%
[DCF Debug] Terminal Value 68.31% ; FCFE base≈148.3m ; Y1≈132.5m ; Y5≈112.1m
Fair Price DCF = 15.81 (DCF Value 1.42b / Shares Outstanding 89.9m; 5y FCF grow -13.20% → 3.0% )
EPS Correlation: 57.83 | EPS CAGR: 831.4% | SUE: 1.25 | # QB: 1
Revenue Correlation: 82.99 | Revenue CAGR: 11.38% | SUE: -2.30 | # QB: 0
Additional Sources for MMYT Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle