Zacks Investment Research·1 day ago
MakeMyTrip (MMYT) Stock Dips While Market Gains: Key FactsMakeMyTrip (MMYT) reached $57.35 at the closing of the latest trading day, reflecting a -1.58% change compared to its last close.
MakeMyTrip Limited(MMYT)Earnings, Financials & Key Ratios
MMYT•NASDAQ
$58.70
124.9× P/E·Price updated Jul 7, 2026
AboutMakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing. Its services and products include air tickets; hotels; packages; rail tickets; bus tickets; and car hire, as well as ancillary travel requirements, such as visa processing and facilitating access to travel insurance. The company allows travelers to research, plan, book, and purchase travel services and products through its websites, such as makemytrip.com, goibibo.com, redbus.in, makemytrip.com.sg, and makemytrip.ae; and other technology-enhanced distribution channels, such as call centers, travel stores, and travel agents' network, as well as mobile service platform. As of March 31, 2022, it had approximately 125 franchisee-owned travel stores. The company serves leisure and corporate travelers. MakeMyTrip Limited was incorporated in 2000 and is based in Gurugram, India.Show more
- Revenue$1.04B+6.7%
- EBITDA$182M+23.6%
- Net Income$52M-45.5%
- EPS (Diluted)0.47-43.4%
- Gross Margin55.89%-22.3%
- EBITDA Margin17.41%+15.9%
- Operating Margin14.74%+20.3%
- Net Margin4.96%-49.0%
- ROE9.01%+10.1%
MMYT Price & Volume
MakeMyTrip Limited (MMYT) stock price & volume — 10-year historical chart
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Revenue Deceleration Challenges Aggressive Capital Allocation Strategy
Investment Thesis • Updated 2026Q4
VerdictNegative
Growth:Decelerating
Profitability:Moderate
Financial:Vulnerable
Cash Flow:Mixed
Primary Risk:Negative equity and leverage
Key Thesis Takeaways
- MakeMyTrip faces a complex fundamental outlook characterized by a sharp deceleration in revenue growth to 1.9% in 2026Q4 and significant erosion of the shareholder equity base to a negative $67.8M.
- While management has demonstrated cost discipline to maintain a 16.0% operating margin, the company's reliance on aggressive share repurchases, including a $3.0B outflow in 2026Q2, has strained the balance sheet.
- Investors should monitor the sustainability of this capital allocation strategy against the backdrop of a $1.4B total debt load and inconsistent free cash flow generation.
Verdict Logic
the combination of a negative equity position of $67.8M and a forward P/E ratio of 122.21 suggests the stock is currently overvalued relative to its decelerating growth profile.
MMYT Growth Metrics
MakeMyTrip Limited (MMYT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years12%
5 Years44.9%
3 Years20.75%
TTM6.71%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-45.53%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-43.89%
Return on Capital
10 Years-5.97%
5 Years5.22%
3 Years8.83%
Last Year11.56%
MMYT Recent Earnings
MakeMyTrip Limited (MMYT) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
May 19, 2026Metric
Actual
Est
EPS
$0.25+51.1%
$0.17
Rev
$282M+2.3%
$275M
Q1 2026
Jan 21, 2026Metric
Actual
Est
EPS
$0.45+15.4%
$0.39
Rev
$311M+1.5%
$306M
Q4 2025
Oct 28, 2025Metric
Actual
Est
EPS
$0.37+96.2%
$0.19
Rev
$229M-12.5%
$262M
Q3 2025
Jul 22, 2025Metric
Actual
Est
EPS
$0.42-6.7%
$0.45
Rev
$269M+2.2%
$263M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 19, 2026 | $0.25vs $0.17+51.1% | $282Mvs $275M+2.3% |
| Q1 2026 | Jan 21, 2026 | $0.45vs $0.39+15.4% | $311Mvs $306M+1.5% |
| Q4 2025 | Oct 28, 2025 | $0.37vs $0.19+96.2% | $229Mvs $262M-12.5% |
| Q3 2025 | Jul 22, 2025 | $0.42vs $0.45-6.7% | $269Mvs $263M+2.2% |
Based on last 12 quarters of dataView full earnings history →
Latest MMYT News
Recent stock market news and headlines for MakeMyTrip Limited (MMYT)
Zacks Investment Research·Jun 26, 2026
MakeMyTrip (MMYT) Advances While Market Declines: Some Information for InvestorsIn the closing of the recent trading day, MakeMyTrip (MMYT) stood at $53.38, denoting a +2.4% move from the preceding trading day.
Seeking Alpha·Jun 23, 2026
MakeMyTrip: Temporary Travel Pressure Does Not Break The Buy CaseMakeMyTrip remains a buy as recent growth slowdown is attributed to temporary travel disruptions, not structural demand issues. MMYT's platform resilience is evident, with strong growth in hotels, packages, and bus segments offsetting air travel weakness. Valuation has become more attractive at 27x NTM PE, reflecting conflict-driven de-rating rather than fundamental deterioration.
Zacks Investment Research·Jun 18, 2026
Why MakeMyTrip (MMYT) Outpaced the Stock Market TodayIn the closing of the recent trading day, MakeMyTrip (MMYT) stood at $46.72, denoting a +2.79% move from the preceding trading day.
Peers Comparison
Key metrics vs top competitors for MakeMyTrip Limited (MMYT)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $58.70 | $5.57B | 124.89 | 6.71% | 4.96% | 9.01% | — | |
| $181.95 | $140.99B | 27.48 | 13.39% | 22.23% | — | — | |
| $269.87 | $31.58B | 27.51 | 7.61% | 10.26% | 68.68% | — | |
| $41.08 | $25.87B | 6.02 | 13.91% | 53.44% | 20.8% | — | |
| $13.72 | $1.6B | 44.26 | 3.05% | 0.99% | 2.86% | — | |
| $148.80 | $88.31B | 36.92 | 10.26% | 19.9% | 31.24% | — |
Compare MMYT vs Peers
MakeMyTrip Limited (MMYT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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MMYT Frequently Asked Questions
MakeMyTrip Limited (MMYT) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is MakeMyTrip Limited's revenue?
MakeMyTrip Limited (MMYT) reported $1.04B in revenue for fiscal year 2026. This represents a 1423% increase from $68.6M in 2009.
How fast is MakeMyTrip Limited growing?
MakeMyTrip Limited (MMYT) grew revenue by 6.7% over the past year. This is steady growth.
Is MMYT profitable?
Yes, MakeMyTrip Limited (MMYT) is profitable, generating $51.8M in net income for fiscal year 2026 (5.0% net margin).
Dividend & Returns
What is MMYT's return on equity?
MakeMyTrip Limited (MMYT) has a return on equity (ROE) of 9.0%. This is below average, suggesting room for improvement.
What is MakeMyTrip Limited's free cash flow?
MakeMyTrip Limited (MMYT) generated $136.1M in free cash flow for fiscal year 2026. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.