Saturday 17 October 2026 Export MMYT’s income statement to Excel — free account

MakeMyTrip Limited

MakeMyTrip Limited’s revenue for fiscal 2026 (year ended March 2026) was $1.0 billion, up 6.71% from fiscal 2025. In the quarter to June 2026, revenue grew 6.22%, EPS fell 60.9%, free cash flow fell 36.2% and total debt rose 5.59%, each against the same quarter a year earlier. Revenue growth for five consecutive years.

46.60 0.18 −0.38%

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Market cap: $4.4B
P/E: 133×
Fwd P/E: 82.6×
Dividend yield: —
F-score: 7/9
Altman Z: 0.40
Beneish M: −3.40
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 23.94%

Capital & Financial Ratios $m

Market Cap 4,400.00

Revenue 1,060.72

Net Income 34.97

Free Cash Flow 167.40

Net Debt 659.19

Current Ratio 3.13

Debt/Equity (24.20)

P/E ratio 133.14

Fwd P/E 82.60

P/S ratio 4.26

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth 3.61%

Next Y EPS Growth 103.60%

Next Y revenue growth 15.33%

Next 5Y EPS Growth 51.86%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 70.89%

10-year low 10-year high

P/S against its own 10 years 18.47%

10-year low 10-year high

EV/Sales against its own 10 years 42.20%

10-year low 10-year high

EV/FCF against its own 10 years 13.50%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2029	Powerpack
2028	Powerpack
2027	Powerpack
2026	Powerpack
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2018	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2024	2025	2026	Q'26
Cash	607	761	765	776
Receivables	92	141	163	187
Inventory	0	0	1	0
Other	158	163	118	127
	857	1,065	1,046	1,090

	2024	2025	2026	Q'26
Payables	119	147	136	158
ST’ Debt	5	222	6	6
Other	174	207	201	183
	298	577	343	349

Compound Annual Growth %

	10y	5y	3y
Sales	12.00%	44.90%	20.75%
Cash Flow	0.00%	23.12%	78.28%
Earnings	0.00%	0.00%	0.00%
Book Value	0.00%	0.00%	0.00%

Revenue $m

	Jun	Sep	Dec	Mar	Year
’26	286	—	—	—	—
’26	269	229	296	250	1,044
’25	255	211	267	245	978
’24	197	169	214	203	783
’23	143	131	171	149	593
’22	33	67	115	89	304
’21	6	21	57	79	163

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Jun	Sep	Dec	Mar	Year
’26	27	—	—	—	—
’26	42	49	46	46	183
’25	72	36	(11)	88	185
’24	37	18	72	(1)	126
’23	(8)	5	(8)	44	32
’22	(32)	34	5	(2)	6
’21	7	25	31	1	65

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Jun	Sep	Dec	Mar	Year
’26	27	—	—	—	—
’26	42	49	46	33	169
’25	72	36	(11)	77	174
’24	37	18	72	(14)	113
’23	(8)	5	(8)	28	16
’22	(32)	34	5	(14)	(7)
’21	7	25	25	(7)	56

Fiscal quarters ending in the months shown.

EPS $

	Jun	Sep	Dec	Mar	Year
’26	0.09	—	—	—	—
’26	0.22	(0.06)	0.07	0.24	0.36
’25	0.19	0.16	0.23	0.25	0.83
’24	0.17	0.02	0.22	1.26	1.74
’23	(0.09)	(0.06)	0.00	0.05	(0.10)
’22	(0.22)	(0.07)	(0.08)	(0.04)	(0.42)
’21	(0.32)	(0.20)	(0.03)	0.03	(0.52)

Fiscal quarters ending in the months shown.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027e
Price, $
Price, $	Low	22.40	19.66	20.82	10.00	22.96	20.06	22.50	43.31	69.69	32.67	Analyst estimates 2027–2029 Powerpack
	High	40.90	41.70	32.30	30.13	39.02	34.68	47.39	123.00	122.35	85.37
People
People	Employees	4,000	3,051	3,450	3,960	3,256	3,338	4,090	4,576	5,122	5,507
	Revenue/emp, $m	0.11	0.22	0.14	0.13	0.05	0.09	0.14	0.17	0.19	0.19
Income, $m
Income, $m	Revenue	448	675	486	512	163	304	593	783	978	1,044
	Gross margin, %	61.15	73.95	64.32	69.83	86.35	80.67	70.06	73.12	74.80	76.93
	EBT	(110)	(220)	(169)	(448)	(61)	(47)	(12)	93	116	78
	EBT margin, %	(24.60)	(32.60)	(34.70)	(87.49)	(37.05)	(15.36)	(2.05)	11.88	11.85	7.51
	Net income	(110)	(220)	(168)	(448)	(56)	(46)	(11)	217	95	52
	Depreciation	15	30	27	34	33	29	27	27	27	28
Per share, $
Per share, $	Revenue	8.51	6.73	4.67	4.86	1.53	2.80	5.41	7.04	8.69	10.24
	Earnings	(2.09)	(2.18)	(1.61)	(4.26)	(0.52)	(0.42)	(0.10)	1.95	0.84	0.51
	Cash flow	(2.06)	(1.25)	(0.76)	(1.07)	0.60	0.06	0.29	1.13	1.65	1.79
	Capex	(0.28)	(0.12)	(0.09)	(0.12)	(0.08)	(0.12)	(0.15)	(0.11)	(0.10)	(0.13)
	Free cash flow	(2.34)	(1.37)	(0.85)	(1.19)	0.53	(0.06)	0.14	1.02	1.55	1.66
	Book value	26.72	15.53	13.05	8.20	8.34	8.26	7.99	10.05	10.73	(0.57)
	Shares, m	53	100	104	105	107	108	110	111	113	102
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	36.62	115.28	76.10
	P/S	4.07	4.82	5.90	2.46	20.64	9.58	4.52	10.14	11.28	3.64
	P/B	1.30	2.09	2.11	1.46	3.78	3.25	3.06	7.11	9.13	0.00
	EV/Sales	3.67	4.24	5.26	2.18	19.28	8.72	4.11	9.64	10.74	4.26
	EV/FCF	(12.99)	(19.10)	(20.28)	(7.61)	84.56	(110.48)	(212.00)	99.49	79.35	34.43
Cash, $m
Cash, $m	Operating cash flow	(108)	(125)	(79)	(113)	65	6	32	126	185	183
	Capex	(15)	(12)	(10)	(13)	(8)	(13)	(16)	(12)	(11)	(13)
	Free cash flow	(123)	(137)	(88)	(125)	56	(7)	16	113	174	169
Balance, $m
Balance, $m	Working capital	129	341	236	99	307	400	218	560	489	703
	Total debt	1	1	1	26	204	217	235	222	236	1,406
	Net debt	(176)	(389)	(311)	(142)	(221)	(261)	(246)	(385)	(525)	640
	Shareholders’ equity	1,405	1,559	1,357	862	891	896	876	1,116	1,208	(58)
Returns, %
Returns, %	ROA	(11.32)	(13.20)	(10.06)	(33.75)	(4.65)	(3.45)	(0.84)	14.36	5.45	2.89
	ROIC	(6.89)	(11.72)	(9.14)	(37.27)	(6.31)	(2.99)	2.34	5.57	10.97	16.75
	ROE	(14.86)	(14.74)	(11.50)	(40.35)	(6.35)	(5.08)	(1.28)	21.76	8.18	9.01

Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
CCL Carnival Corporation	$35.6B	11.2×	12.3×	+3.46% (above 0%: growing)	+0.06% (above 0%: growing)	−3.26% (below 0%: shrinking)	45.13%	26.31%	Compare
EXPE Expedia Group, Inc.	$35.0B	17.3×	14.4×	+13.97% (above 0%: growing)	+179.69% (above 0%: growing)	+38.87% (above 0%: growing)	90.66%	18.54%	Compare
TCOM Trip.com Group Limited Sponsored ADR	$25.9B	7.7×	12.8×	+11.39% (above 0%: growing)	n/m	+531.82% (above 0%: growing)	79.81%	(9.36%)	Compare
NCLH Norwegian Cruise Line Holdings Ltd.	$7.1B	9.0×	12.6×	+4.89% (above 0%: growing)	+585.71% (above 0%: growing)	−61.99% (below 0%: shrinking)	39.91%	13.76%	Compare
MMYT MakeMyTrip Limited	$4.4B	133×	82.6×	+6.22% (above 0%: growing)	−60.87% (below 0%: shrinking)	−36.17% (below 0%: shrinking)	74.55%	15.30%
TNL Travel + Leisure Co.	$4.0B	17.2×	10.0×	+4.42% (above 0%: growing)	+7.36% (above 0%: growing)	0.00%	51.18%	19.76%	Compare
LIND Lindblad Expeditions	$2.3B	— (loss-making)	127×	+18.64% (above 0%: growing)	n/m	+279.01% (above 0%: growing)	48.50%	6.00%	Compare
PRSU Pursuit Attractions and Hospitality, Inc.	$1.5B	40.8×	26.9×	+14.35% (above 0%: growing)	+175.00% (above 0%: growing)	−139.39% (below 0%: shrinking)	92.82%	18.59%	Compare
TRIP TripAdvisor, Inc.	$1.1B	233×	21.2×	−7.16% (below 0%: shrinking)	−34.48% (below 0%: shrinking)	−26.17% (below 0%: shrinking)	92.98%	8.55%	Compare
Median of peers	$5.5B	17.2×	13.6×	+8.14%	+91.18%	−1.63%	65.50%	16.15%

All 18 Travel Services stocks →

MakeMyTrip Limited (MMYT) key facts

Strength: MakeMyTrip Limited’s revenue for fiscal 2026 (year ended March 2026) was $1.0 billion, up 6.71% from fiscal 2025.
MakeMyTrip Limited (MMYT) is a Travel Services company in the Consumer Cyclical sector, listed on Nasdaq.
As of October 16, 2026, MMYT traded at $46.60, a market capitalization of $4.4 billion.
Return on equity was 9.01% and debt-to-equity -24.20.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 0.40 (distress zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.