MakeMyTrip Limited (MMYT) vs Royal Caribbean Cruises Ltd. (RCL)

MakeMyTrip Limited and Royal Caribbean Cruises Ltd. are both Travel Services companies. Royal Caribbean Cruises Ltd. is the larger, with a market value of $75.3B against $4.1B — 18.4× the size. Royal Caribbean Cruises Ltd. trades at the lower P/E: 17.3× against 128×. Royal Caribbean Cruises Ltd. grew revenue faster over the last twelve months: 8.72% against 6.86%. Royal Caribbean Cruises Ltd. has the higher net margin (23.5% vs 3.23%) and the lower return on invested capital (9.84% vs 16.6%). Across the 19 metrics below, Royal Caribbean Cruises Ltd. leads on 11 and MakeMyTrip Limited on 8.

Valuation

Metric MMYT RCL Travel Services median
P/E 127.80 17.35 17.35
P/S 4.08 4.05 2.69
P/B n/m 7.23 2.65
Price to free cash flow 38.04 n/m 11.30
EV/EBITDA 31.33 13.98 13.07
EV/Sales 4.71 5.22 3.07
Earnings yield 0.78% 5.76% 3.72%
Free cash flow yield 2.63% (0.55%) 3.91%

Profitability

Metric MMYT RCL Travel Services median
Gross margin 76.78% 49.06% 76.78%
Operating margin 15.02% 27.32% 15.09%
Net margin 3.23% 23.54% 7.49%
Free cash flow margin 15.78% (2.23%) 3.61%
Return on equity 2,808.04% 44.37% 8.82%
Return on assets 1.03% 10.57% 3.46%
Return on invested capital 16.60% 9.84% 5.08%

Growth

Metric MMYT RCL Travel Services median
Revenue growth (TTM) 6.86% 8.72% 12.85%
EPS growth (last fiscal year) (56.63%) 42.69% 7.79%
Revenue growth, 5-year CAGR 44.90% 52.02% 29.37%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MMYT RCL Travel Services median
Debt to equity (24.20) 2.18 0.24
Current ratio 3.13 0.21 1.21
Net debt to EBITDA 3.48 3.05 1.04

Dividend

Metric MMYT RCL Travel Services median
Dividend yield — 1.95% 1.71%
Payout ratio — 0.34 0.20

Size

Metric MMYT RCL Travel Services median
Market cap 4.09b 75.26b 3.96b

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