MakeMyTrip Limited (MMYT) Key Metrics
MMYT valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.38B
- Enterprise value
- $5.06B
- P/E (TTM)
- 233.0 10-yr median 78.9
- Forward P/E
- 96.2
- PEG ratio
- 5.39
- Price / sales
- 4.1 10-yr median 5.5
- Price / book
- 158.9 10-yr median 3.1
- EV / EBITDA
- 25.2 10-yr median 62.5
- Dividend yield
- —
- Beta
- 1.06
MMYT key metrics, FY2017–FY2026
Fiscal year ended March 31, 2026 · U.S. dollarsMMYT valuation Price multiples at each fiscal year-end price.
MMYT returns How much profit the business earns on the capital it uses.
MMYT per-share figures Results divided by the shares outstanding at year-end.
MMYT financial health Debt, liquidity and how easily interest is covered.
MMYT efficiency & capital use Working capital cycle and where the cash goes.
MMYT valuation history
MMYT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MMYT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MMYT cash returned to shareholders
MMYT price vs earnings per share
MMYT key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $4.09B | $11.22B | $8.40B | $2.72B | $2.91B | $3.37B | $1.26B | $2.87B | $3.48B | $1.82B |
| Enterprise value | $4.73B | $10.70B | $8.02B | $2.47B | $2.65B | $3.15B | $1.12B | $2.56B | $3.09B | $1.64B |
| P/E ratio | 78.9 | 118.0 | 38.7 | — | — | — | — | — | — | — |
| Price / sales | 3.9 | 11.5 | 10.7 | 4.6 | 9.6 | 20.6 | 2.5 | 5.9 | 5.2 | 4.1 |
| Price / book | — | 9.3 | 7.6 | 3.1 | 3.3 | 3.8 | 1.5 | 2.1 | 2.2 | 1.3 |
| Price / free cash flow | 24.3 | 64.7 | 74.4 | 177.5 | — | 50.1 | — | — | — | — |
| Price / operating cash flow | 22.4 | 60.6 | 66.8 | 84.4 | 485.2 | 49.7 | — | — | — | — |
| EV / sales | 4.5 | 10.9 | 10.2 | 4.2 | 8.7 | 19.3 | 2.2 | 5.3 | 4.6 | 3.7 |
| EV / EBITDA | 22.4 | 66.9 | 58.1 | 77.9 | — | — | — | — | — | — |
| EV / free cash flow | 28.2 | 61.7 | 71.0 | 161.5 | — | 46.8 | — | — | — | — |
| Earnings yield | 1.3% | 0.8% | 2.6% | −0.4% | −1.6% | −1.6% | −35.6% | −5.8% | −6.3% | −6.1% |
| Free cash flow yield | 4.1% | 1.5% | 1.3% | 0.6% | −0.2% | 2.0% | −10.0% | −3.1% | −3.9% | −6.8% |
| Dividend yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% |
| Shareholder yield (dividends + buybacks) | 76.5% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% |
| Share price at fiscal year-end | $37.29 | $97.99 | $71.05 | $24.47 | $26.83 | $31.58 | $11.96 | $27.60 | $34.70 | $34.60 |
| Per share | ||||||||||
| Revenue per share | $9.52 | $8.54 | $6.62 | $5.34 | $2.80 | $1.53 | $4.86 | $4.67 | $6.73 | $8.51 |
| Earnings per share | $0.47 | $0.83 | $1.83 | −$0.10 | −$0.42 | −$0.52 | −$4.26 | −$1.61 | −$2.18 | −$2.09 |
| Operating cash flow per share | $1.66 | $1.62 | $1.06 | $0.29 | $0.06 | $0.64 | −$1.07 | −$0.76 | −$1.25 | −$2.06 |
| Free cash flow per share | $1.53 | $1.51 | $0.96 | $0.14 | −$0.06 | $0.63 | −$1.19 | −$0.85 | −$1.37 | −$2.35 |
| Cash per share | $6.98 | $6.65 | $5.13 | $4.33 | $4.40 | $3.98 | $1.59 | $3.00 | $3.88 | $3.37 |
| Book value per share | −$0.62 | $10.50 | $9.40 | $7.83 | $8.24 | $8.31 | $8.16 | $13.05 | $15.53 | $26.70 |
| Tangible book value per share | −$5.65 | $5.28 | $4.21 | $2.17 | $1.92 | $1.56 | $1.30 | $2.77 | $4.10 | $4.45 |
| Dividends per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.08 |
| Capex per share | $0.13 | $0.10 | $0.11 | $0.15 | $0.12 | $0.01 | $0.12 | $0.09 | $0.12 | $0.28 |
| Debt per share | $12.82 | $2.07 | $1.87 | $2.12 | $2.00 | $1.91 | $0.24 | $0.01 | $0.01 | $0.01 |
| Shares outstanding | 109.7M | 114.5M | 118.2M | 111.1M | 108.5M | 106.8M | 105.2M | 104.0M | 100.4M | 52.6M |
| Change in shares outstanding | −4.2% | −3.1% | +6.4% | +2.4% | +1.6% | +1.5% | +1.2% | +3.6% | +90.8% | +26.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | — | 8.2% | 21.9% | −1.3% | −5.1% | −6.4% | −40.4% | −11.5% | −14.7% | −14.9% |
| Return on invested capital (ROIC) | 16.2% | 14.0% | 9.7% | 3.0% | −3.7% | −7.7% | −38.5% | −10.9% | −14.5% | −16.3% |
| Return on assets (ROA) | 2.9% | 5.5% | 14.4% | −0.8% | −3.5% | −4.7% | −33.8% | −10.1% | −13.2% | −11.3% |
| Return on tangible assets | 4.3% | 7.7% | 20.7% | −1.5% | −7.1% | −9.5% | −124.0% | −33.5% | −35.3% | −29.5% |
| Free cash flow margin | 16.1% | 17.7% | 14.4% | 2.6% | −2.3% | 41.2% | −24.5% | −18.2% | −20.4% | −27.6% |
| Income quality (OCF / net income) | 3.52 | 1.95 | 0.58 | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $1.41B | $236.6M | $221.6M | $235.2M | $216.6M | $204.0M | $25.6M | $707,000 | $652,000 | $749,000 |
| Cash & short-term investments | $765.1M | $761.2M | $606.8M | $481.1M | $477.5M | $424.9M | $167.7M | $312.0M | $389.8M | $177.2M |
| Net debt | $641.3M | −$524.6M | −$385.2M | −$245.9M | −$260.9M | −$220.9M | −$142.1M | −$311.3M | −$389.2M | −$176.5M |
| Debt / equity | — | 0.20 | 0.20 | 0.27 | 0.24 | 0.23 | 0.03 | 0.00 | 0.00 | 0.00 |
| Debt / assets | 0.80 | 0.13 | 0.13 | 0.17 | 0.16 | 0.16 | 0.02 | 0.00 | 0.00 | 0.00 |
| Net debt / EBITDA | 3.04 | −3.28 | −2.79 | −7.75 | — | — | — | — | — | — |
| Current ratio | 3.05 | 1.85 | 2.88 | 1.48 | 3.09 | 2.58 | 1.55 | 2.15 | 2.70 | 1.96 |
| Quick ratio | 3.05 | 1.85 | 2.88 | 1.48 | 3.09 | 2.58 | 1.55 | 2.15 | 2.70 | 1.96 |
| Interest coverage | 1.5 | 6.8 | 3.7 | 1.4 | -2.0 | -15.2 | -70.0 | -209.5 | -240.9 | -9.1 |
| Working capital | $703.3M | $488.7M | $559.7M | $218.3M | $400.1M | $307.0M | $99.2M | $236.1M | $340.6M | $128.8M |
| Invested capital | $573.5M | $678.0M | $725.7M | $623.7M | $633.3M | $666.6M | $716.1M | $1.05B | $1.17B | $1.23B |
| Tangible asset value | −$610.7M | $610.2M | $503.0M | $247.1M | $210.8M | $170.3M | $140.3M | $288.5M | $411.4M | $234.7M |
| Net current asset value | −$766.9M | $445.0M | $313.6M | $188.1M | $165.1M | $83.4M | $58.1M | $227.7M | $334.1M | $123.9M |
| Graham number | — | $14.01 | $19.69 | — | — | — | — | — | — | — |
| Graham net-net per share | −$8.44 | $2.22 | $1.15 | $0.44 | $0.72 | $0.24 | −$0.09 | $1.35 | $2.38 | $1.22 |
| Capital allocation | ||||||||||
| Dividends paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4.1M |
| Share buybacks (net) | $3.13B | $21.7M | $0 | $0 | — | — | — | $0 | $0 | $2.0M |
| Dividend payout ratio | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Dividends + buybacks / free cash flow | — | 12.5% | 0.0% | 0.0% | — | 0.0% | — | — | — | — |
| Capex / revenue | 1.4% | 1.2% | 1.6% | 2.8% | 4.2% | 0.4% | 2.5% | 2.0% | 1.8% | 3.3% |
| Capex / operating cash flow | 8.0% | 6.3% | 10.2% | 52.5% | 215.3% | 0.9% | — | — | — | — |
| Capex / depreciation | 0.52 | 0.43 | 0.47 | 0.62 | 0.44 | 0.02 | 0.38 | 0.36 | 0.41 | 1.03 |
| Stock-based compensation / revenue | 2.2% | 3.7% | 4.7% | 6.0% | 12.1% | 21.8% | 8.1% | 8.2% | 6.6% | 6.0% |
| R&D / revenue | — | 0.6% | 0.9% | 1.2% | 3.0% | — | — | — | — | — |
| SG&A / revenue | 38.9% | 39.7% | 41.2% | 41.3% | 58.6% | 83.0% | 61.1% | 67.0% | 86.9% | 71.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 54.9 | 46.3 | 38.7 | 32.3 | 36.7 | 92.7 | 40.2 | 48.2 | 29.4 | 25.9 |
| Days of inventory on hand | 0.4 | 0.4 | 0.2 | 0.0 | 0.2 | 0.6 | 0.8 | 1.3 | 0.9 | 0.8 |
| Days payables outstanding | 90.0 | 105.3 | 95.7 | 81.5 | 178.1 | 366.8 | 106.7 | 151.6 | 110.0 | 67.5 |
| Cash conversion cycle (days) | -34.7 | -58.7 | -56.8 | -49.2 | -141.2 | -273.4 | -65.7 | -102.1 | -79.7 | -40.8 |
| Receivables turnover | 6.65 | 7.89 | 9.42 | 11.32 | 9.95 | 3.94 | 9.07 | 7.57 | 12.42 | 14.10 |
| Payables turnover | 4.06 | 3.47 | 3.81 | 4.48 | 2.05 | 1.00 | 3.42 | 2.41 | 3.32 | 5.41 |
| Inventory turnover | 944.68 | 944.40 | 1,770.28 | 9,864.83 | 2,303.92 | 587.05 | 480.75 | 288.54 | 415.29 | 447.09 |
| Asset turnover | 0.58 | 0.56 | 0.52 | 0.44 | 0.23 | 0.14 | 0.39 | 0.29 | 0.41 | 0.46 |
| Average receivables | $156.9M | $124.0M | $83.0M | $52.4M | $30.5M | $41.5M | $56.4M | $64.2M | $54.4M | $31.7M |
| Average payables | $113.5M | $79.1M | $56.4M | $39.6M | $28.7M | $22.4M | $45.1M | $72.0M | $53.0M | $32.2M |
| Average inventory | $487,500 | $290,500 | $121,500 | $18,000 | $25,500 | $38,000 | $321,000 | $601,000 | $423,500 | $389,000 |
| Intangibles / total assets | 31.5% | 32.7% | 36.9% | 46.3% | 51.8% | 55.1% | 66.7% | 68.1% | 65.0% | 75.8% |
Computed from MMYT's annual financial statements (latest annual report filed July 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MMYT valuation and financial ratios
At the end of fiscal 2026 (March 31, 2026), MakeMyTrip traded at 78.9 times earnings, against a 10-year median of 78.9. Based on the latest twelve months, the trailing P/E is 233.0 and the forward P/E is 96.2. MakeMyTrip earned a return on invested capital of 16.2% in fiscal 2026. It ended the year with $1.4 billion of debt and $765.1 million in cash and short-term investments, net debt of $641.3 million. It returned $3.1 billion to shareholders: $0 in dividends and $3.1 billion in share buybacks. The share count rose 108.5% from 52.6M to 109.7M over 9 years.
See the MMYT income statement, the MMYT chart for price history, or the MMYT stock overview for the latest quote and news.
MMYT key metrics FAQ
What is MakeMyTrip's P/E ratio?
MakeMyTrip's trailing P/E ratio is 233.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 96.2. At the end of fiscal 2026 it was 78.9, compared with a 10-year median of 78.9.
What is MakeMyTrip's EV/EBITDA?
MakeMyTrip's enterprise value was 22.4 times EBITDA at the end of fiscal 2026 (enterprise value $4.7 billion, EBITDA $211.0 million); the current EV/EBITDA is 25.2.
What is MakeMyTrip's ROIC?
MakeMyTrip's return on invested capital was 16.2% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does MakeMyTrip have?
MakeMyTrip had total debt of $1.4 billion at the end of fiscal 2026 and $641.3 million of net debt (3.04 times EBITDA).
Does MakeMyTrip pay a dividend?
MakeMyTrip did not pay a dividend in fiscal 2026.
Does MakeMyTrip buy back its shares?
Yes. MakeMyTrip spent $3.1 billion on net share repurchases in fiscal 2026 Shares outstanding changed −4.2% over the year, to 109.7M..
What is MakeMyTrip's free cash flow yield?
MakeMyTrip generated $168.0 million of free cash flow in fiscal 2026, a free cash flow yield of 4.1% on its market value at year-end ($4.1 billion).
What is MakeMyTrip's current ratio?
MakeMyTrip's current ratio was 3.05 at the end of fiscal 2026: current assets were 3.05 times current liabilities.