Stock MMYT MAKEMYTRIP LIMITED
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Financials MakeMyTrip Limited

Equities

MMYT

MU0295S00016

Leisure & Recreation

Market Closed - Nasdaq
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
67.47 USD -0.07% Intraday chart for MakeMyTrip Limited +10.79% +43.61%
Feb. 21 MakeMyTrip Shares Decline Following Macquarie Downgrade MT
Feb. 21 Macquarie Downgrades MakeMyTrip to Neutral From Outperform, Adjusts Price Target to $60 From $50 MT

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,815 1,231 3,261 2,810 2,576 7,359 - -
Enterprise Value (EV) 1 2,503 1,089 3,040 2,549 2,330 6,994 6,876 6,705
P/E ratio -17.1 x -2.81 x -60.7 x -63.9 x -245 x 110 x 57.4 x 42.2 x
Yield - - - - - - - -
Capitalization / Revenue 4.18 x 1.7 x 17.7 x 7.88 x 3.96 x 9.26 x 7.53 x 6.28 x
EV / Revenue 3.72 x 1.51 x 16.5 x 7.15 x 3.58 x 8.81 x 7.04 x 5.72 x
EV / EBITDA -19.8 x -11.8 x -87.7 x -2,930 x 45.7 x 61.4 x 39.8 x 29.3 x
EV / FCF -28.2 x - 54.5 x -35.6 x 154 x 48.1 x 42.1 x 31.8 x
FCF Yield -3.54% - 1.83% -2.81% 0.65% 2.08% 2.38% 3.15%
Price to Book 2.11 x 1.47 x 3.87 x 3.25 x 3.09 x 7.92 x 7.22 x 6.21 x
Nbr of stocks (in thousands) 101,982 102,990 103,255 104,733 105,274 109,065 - -
Reference price 2 27.60 11.96 31.58 26.83 24.47 67.47 67.47 67.47
Announcement Date 5/16/19 6/26/20 5/25/21 5/25/22 5/16/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 673.4 723.4 184.1 356.4 651.2 794.3 977.3 1,172
EBITDA 1 -126.1 -92.44 -34.67 -0.87 51 114 172.6 229.2
EBIT 1 -152.9 -429.4 -67.68 -30.37 23.6 70.37 134.7 192.1
Operating Margin -22.71% -59.36% -36.76% -8.52% 3.62% 8.86% 13.78% 16.39%
Earnings before Tax (EBT) 1 -168.6 -447.5 -60.55 -46.67 -12.14 66.35 135.3 199.9
Net income 1 -167.8 -447.8 -55.64 -45.4 -11.32 64.44 124.6 164.1
Net margin -24.91% -61.9% -30.22% -12.74% -1.74% 8.11% 12.75% 13.99%
EPS 2 -1.610 -4.260 -0.5200 -0.4200 -0.1000 0.6124 1.176 1.598
Free Cash Flow 1 -88.63 - 55.73 -71.61 15.16 145.5 163.5 211
FCF margin -13.16% - 30.26% -20.09% 2.33% 18.32% 16.73% 18%
FCF Conversion (EBITDA) - - - - 29.73% 127.67% 94.73% 92.07%
FCF Conversion (Net income) - - - - - 225.8% 131.25% 128.61%
Dividend per Share 2 - - - - - - - -
Announcement Date 5/16/19 6/26/20 5/25/21 5/25/22 5/16/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: März 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 64.31 89.97 37.92 86.4 127 105.1 156.2 156.8 172.1 166.1 198.3 171.5 208.6 198.2 250.6
EBITDA 1 - - - - - - - 8.232 14.11 14.87 25.94 15.27 29.33 22.43 39.59
EBIT 1 - 0.317 -19.85 -8.375 -8.774 3.353 4.266 1.459 7.31 7.973 19.13 9.448 22.46 17.64 33.02
Operating Margin - 0.35% -52.35% -9.69% -6.91% 3.19% 2.73% 0.93% 4.25% 4.8% 9.65% 5.51% 10.77% 8.9% 13.17%
Earnings before Tax (EBT) 1 - - - - - - - -7.17 -0.207 5.356 18.59 8.045 22.03 15.63 34.11
Net income 1 - - - - - - - -6.98 0.093 5.664 18.46 8.045 22.03 15.63 34.11
Net margin - - - - - - - -4.45% 0.05% 3.41% 9.31% 4.69% 10.56% 7.89% 13.61%
EPS 2 -0.0300 0.0300 -0.2200 -0.0700 -0.0800 -0.0400 -0.0900 -0.0600 0.001000 0.0500 0.1700 0.0746 0.1898 0.1594 0.3027
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 1/28/21 5/25/21 7/27/21 10/26/21 1/25/22 5/25/22 7/27/22 11/1/22 1/31/23 5/16/23 8/1/23 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 311 142 221 261 246 365 483 654
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 -88.6 - 55.7 -71.6 15.2 146 164 211
ROE (net income / shareholders' equity) -11.5% -40.4% -6.37% -5.1% 6% 10.7% 15% 17.3%
ROA (Net income/ Total Assets) -10.1% - - - 3.95% 6.7% 9.9% 10.3%
Assets 1 1,668 - - - -286.9 962.2 1,258 1,599
Book Value Per Share 2 13.10 8.160 8.160 8.240 7.930 8.520 9.350 10.90
Cash Flow per Share 2 - - - - 0.7700 0.7700 1.400 2.040
Capex 1 9.7 12.8 8.8 77.6 16.9 16.3 17.3 14.7
Capex / Sales 1.44% 1.77% 4.78% 21.77% 2.6% 2.06% 1.77% 1.25%
Announcement Date 5/16/19 6/26/20 5/25/21 5/25/22 5/16/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for MakeMyTrip Limited

Trading Rating
Investor Rating
ESG Refinitiv
D+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
9
Last Close Price
67.47 USD
Average target price
66.89 USD
Spread / Average Target
-0.86%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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