# MakeMyTrip Limited (MMYT) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Consumer Cyclical / Hotels, Restaurants & Leisure. Price $55.62, market value $5.2 billion.

## Valuation
- **P/E (trailing): 241.8×** (5-yr avg 87.5×, 3-yr avg 87.5×). MakeMyTrip Limited trades at 241.8× trailing earnings, well above its own five-year average of 87.5×: investors are paying up relative to the company's past. The Consumer Cyclical median in the September 2026 study was 19.5×. Forward P/E is 22.4×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 4.9×**. Each dollar of revenue is priced at 4.9×.
- **EV / EBITDA: 29.2×**. Enterprise value is 29.2× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 2.9%** (5-yr avg 1.7%). Free cash flow equals 2.9% of the market value, above its five-year average of 1.7%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 0.4%**. The inverse of the P/E: 0.4% of the price is earned each year.

## Profitability
- **Gross margin: 73.4%**. MakeMyTrip Limited keeps 73.4% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 15.0%**. 15.0% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 5.0%**. 5.0% of each dollar of sales reaches the bottom line.
- **Return on equity: -76.4%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 16.9%**. Return on all capital, debt included, is 16.9%: comfortably above what that capital costs.
- **Return on assets: 2.0%**. Each dollar of assets produces 2.0% of profit.

## Growth
- **Revenue growth (1 yr): 6.7%** (3-yr 20.7%/yr, 5-yr 44.9%/yr). Revenue grew 6.7% over the last year, against 44.9% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -56.6%**. Earnings per share fell 56.6%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 89.4%/yr**. Free cash flow has compounded at 89.4% a year over three years.

## Financial health
- **Net debt / EBITDA: 3.2×**. It would take 3.2 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 1.4×**. Operating profit covers interest only 1.4×: fragile.
- **Current ratio: 3.05** (quick 3.05). Current assets cover the next year's liabilities 3.05 times.
- **Altman Z-score: 3.05**. A Z-score of 3.05 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. MakeMyTrip Limited does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): -44.4%** (YTD -32.3%, 3-mo 26.2%). The shares are down 44.4% over twelve months including dividends.
- **From 52-week high: -46.1%** (70.2% above the low). Trading 46% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 41**. An RSI of 41 is neutral.
- **Beta (1 yr): 1.22** (volatility 53%). Beta of 1.22 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=MMYT · Page: https://foliofundamentals.com/stocks/mmyt

Not investment advice.