Booking Holdings Inc. (BKNG) vs MakeMyTrip Limited (MMYT)

Booking Holdings Inc. and MakeMyTrip Limited are both Travel Services companies. Booking Holdings Inc. is the larger, with a market value of $120.2B against $4.1B — 29.4× the size. Booking Holdings Inc. trades at the lower P/E: 17.7× against 128×. Booking Holdings Inc. grew revenue faster over the last twelve months: 12.9% against 6.86%. Booking Holdings Inc. has the higher net margin (25.5% vs 3.23%) and the lower return on invested capital (0.00% vs 16.6%). Across the 21 metrics below, Booking Holdings Inc. leads on 15 and MakeMyTrip Limited on 6.

Valuation

Metric BKNG MMYT Travel Services median
P/E 17.65 127.80 17.35
P/S 4.36 4.08 2.69
P/B n/m n/m 2.65
Price to free cash flow 12.91 38.04 11.30
EV/EBITDA 12.80 31.33 13.07
EV/Sales 4.47 4.71 3.07
Earnings yield 5.67% 0.78% 3.72%
Free cash flow yield 7.75% 2.63% 3.91%

Profitability

Metric BKNG MMYT Travel Services median
Gross margin 100.00% 76.78% 76.78%
Operating margin 32.87% 15.02% 15.09%
Net margin 25.53% 3.23% 7.49%
Free cash flow margin 33.78% 15.78% 3.61%
Return on equity (82.67%) 2,808.04% 8.82%
Return on assets 23.88% 1.03% 3.46%
Return on invested capital 0.00% 16.60% 5.08%

Growth

Metric BKNG MMYT Travel Services median
Revenue growth (TTM) 12.85% 6.86% 12.85%
EPS growth (last fiscal year) (4.12%) (56.63%) 7.79%
Revenue growth, 5-year CAGR 31.69% 44.90% 29.37%
Net income growth, 5-year CAGR 146.82% 0.00% 0.00%

Health

Metric BKNG MMYT Travel Services median
Debt to equity (1.87) (24.20) 0.24
Current ratio 1.09 3.13 1.21
Net debt to EBITDA 0.16 3.48 1.04

Dividend

Metric BKNG MMYT Travel Services median
Dividend yield 1.03% — 1.71%
Payout ratio 0.18 — 0.20

Size

Metric BKNG MMYT Travel Services median
Market cap 120.20b 4.09b 3.96b

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