MakeMyTrip Ltd (MMYT)

MakeMyTrip Limited, together with its subsidiaries, operates as a travel service provider in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, Saudi Arabia, Cambodia, and Indonesia. The company operates through three segments: Air Ticketing, Hotels, and Packages and Bus Ticketing. Its products and services include air tickets, hotels and alternative accommodations, holiday packages, bus tickets, rail tickets, car hire, tours and attractions, travel assurance products and add-on products for bookings; activities and experiences and ancillary travel requirements, such as facilitating access to third-party travel and other insurance products; and visa-related products and services under the MakeMyTrip, Goibibo, and redBus brands, as well as foreign exchange, prepaid forex cards, cross-border remittances and related financial services. The company allows travelers to research, plan, and book a range of travel services and products in India and internationally through its primary websites, including makemytrip.com, goibibo.com, redbus.in, and makemytrip.ae; and other technology-enhanced distribution channels, such as call centers, franchisee-owned travel stores, and travel agents' network, as well as its mobile applications. It primarily serves leisure travelers and corporates. The company was formerly known as International Web Travel Private Limited and changed its name to MakeMyTrip Limited in March 2010. MakeMyTrip Limited was incorporated in 2000 and is based in Gurugram, India.

Ticker
MMYT
Exchange
Nasdaq
Sector
Consumer Cyclical
Industry
Travel Services
Market cap
$4.95B
52-week range
$32.67 - $86.94

Valuation

Share price
$51.10 (close of Nov 6, 2026)
P/E (TTM)
118.84x
Price to book
-61.00x
Price to free cash flow
29.27x
Enterprise value
$5.99B
Book value per share
$-0.84

Price performance

PeriodChange
1 day-0.35%
5 days+19.73%
1 month+17.82%
3 months-14.90%
6 months+3.25%
Year to date-37.77%
1 year-34.95%
3 years+24.69%
5 years+46.13%
10 years+92.11%
All time+93.19%

Short interest

As of
Oct 15, 2026
Short % of float
14.26%
Shares short
8.25M
Days to cover
6.18
Change since prior report
+0.24%
Source
FINRA consolidated short interest

Profitability and growth

Return on invested capital
9.59%
Return on assets
2.95%
Return on capital employed
11.05%
Gross margin
73.77%
Net margin
4.96%
EBITDA margin
15.88%
Revenue growth
6.71%
Net income growth
-45.53%
Free cash flow growth
-1.54%

Cash flow and balance sheet

Free cash flow yield (TTM)
3.42%
Current ratio
2.94x
Net debt to EBITDA
5.08x

Latest reported year

Period end
Mar 31, 2026
Fiscal year
2026
Revenue
$1.04B
Cost of revenue
$273.85M
Gross profit
$770.14M
EBITDA
$165.77M
Net income
$51.80M
Earnings per share
$0.51
Interest expense
$104.76M
Shares outstanding
101.97M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2026-03-31$1.04B$770.14M$51.80M$0.51
2025-03-31$978.34M$703.99M$95.10M$0.84
2024-03-31$782.52M$567.43M$216.80M$1.95
2023-03-31$593.04M$415.47M-$11.32M-$0.10
2022-03-31$303.92M$245.17M-$45.41M-$0.42
2021-03-31$163.44M$141.22M-$55.64M-$0.52
2020-03-31$511.53M$362.26M-$447.78M-$4.26
2019-03-31$486.01M$315.07M-$167.76M-$1.61
2018-03-31$675.26M$499.38M-$218.41M-$2.18
2017-03-31$447.62M$273.70M-$110.17M-$2.09

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2026-03-3173.77%4.96%-9.59%
2025-03-3171.96%9.72%7.87%6.87%
2024-03-3172.51%27.71%19.42%4.87%
2023-03-3170.06%-1.91%-1.29%1.06%
2022-03-3180.67%-14.94%-5.06%-2.60%
2021-03-3186.41%-34.04%-6.24%-5.69%
2020-03-3170.82%-87.54%-51.93%-47.06%
2019-03-3164.83%-34.52%-12.36%-11.21%
2018-03-3173.95%-32.35%-14.01%-14.07%
2017-03-3161.15%-24.61%-7.84%-9.63%

Cash and debt by year

Period endCashDebt
2026-03-31$424.83M$1.40B
2025-03-31$508.90M$13.89M
2024-03-31$327.06M$216.82M
2023-03-31$284.02M$15.65M
2022-03-31$213.28M$213.81M
2021-03-31$295.07M$201.62M
2020-03-31$129.88M$21.61M
2019-03-31$177.99M$474.00K
2018-03-31$187.65M$424.00K
2017-03-31$101.70M$523.00K

Free cash flow by year

Period endFree cash flowStock-based compensation
2026-03-31$178.03M$22.98M
2025-03-31$180.81M$36.02M
2024-03-31$119.84M$36.96M
2023-03-31$24.72M$35.64M
2022-03-31$3.10M$36.65M
2021-03-31$63.88M$35.59M
2020-03-31-$116.27M$41.63M
2019-03-31-$82.38M$40.03M
2018-03-31-$129.74M$44.86M
2017-03-31-$117.21M$26.80M

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-10-26Sep 2026$0.36
2026-08-03Jun 2026$0.20
2026-05-19Mar 2026$0.22
2026-01-21Dec 2025$0.32
2025-10-28Sep 2025$0.39
2025-07-22Jun 2025$0.37
2025-05-14Mar 2025$0.33
2025-01-23Dec 2024$0.36

Filings and sources

Company website
makemytrip.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

Similar companies

Booking Holdings Inc. (BKNG) · Airbnb, Inc. (ABNB) · Royal Caribbean Cruises Ltd (RCL) · Carnival Corp Ltd. (CCL) · Expedia Group, Inc. (EXPE) · Norwegian Cruise Line Holdings Ltd. (NCLH) · Tapestry, Inc. (TPR) · Capri Holdings Ltd (CPRI)

All Consumer Cyclical companies

Understanding these figures

Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

Explore

Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades