Expedia Group, Inc. (EXPE) vs MakeMyTrip Limited (MMYT)

Expedia Group, Inc. and MakeMyTrip Limited are both Travel Services companies. Expedia Group, Inc. is the larger, with a market value of $32.7B against $4.8B — 6.8× the size. Expedia Group, Inc. trades at the lower P/E: 15.6× against 120×. Expedia Group, Inc. grew revenue faster over the last twelve months: 12.9% against 5.49%. Expedia Group, Inc. has the higher net margin (13.0% vs 3.91%) and the higher return on invested capital (138.1% vs 17.6%). Across the 20 metrics below, Expedia Group, Inc. leads on 17 and MakeMyTrip Limited on 3.

Valuation

Metric EXPE MMYT Travel Services median
P/E 15.62 119.75 19.05
P/S 2.02 4.66 2.64
P/B 11.25 n/m 2.71
Price to free cash flow 8.75 42.90 13.14
EV/EBITDA 8.15 34.80 13.28
EV/Sales 1.92 5.27 3.26
Earnings yield 6.40% 0.84% 4.29%
Free cash flow yield 11.42% 2.33% 4.65%

Profitability

Metric EXPE MMYT Travel Services median
Gross margin 90.48% 77.26% 52.17%
Operating margin 17.24% 15.15% 15.57%
Net margin 12.99% 3.91% 8.07%
Free cash flow margin 23.09% 15.87% 7.89%
Return on equity 76.49% (162.39%) 1.26%
Return on assets 8.11% 2.26% 3.81%
Return on invested capital 138.08% 17.58% 5.65%

Growth

Metric EXPE MMYT Travel Services median
Revenue growth (TTM) 12.92% 5.49% 11.33%
EPS growth (last fiscal year) 9.61% (56.63%) 5.97%
Revenue growth, 5-year CAGR 23.16% 44.90% 29.37%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric EXPE MMYT Travel Services median
Debt to equity 1.87 (18.05) 0.21
Current ratio 0.77 2.94 1.33
Net debt to EBITDA (0.36) 3.48 1.01

Dividend

Metric EXPE MMYT Travel Services median
Dividend yield 0.67% — 1.52%
Payout ratio 0.11 — 0.20

Size

Metric EXPE MMYT Travel Services median
Market cap 32.70b 4.82b 4.77b

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