MMYT
MakeMyTrip Limited
MMYT
46.87USD
+0.17%
Sep 25, 2026
Price
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Price Action
Price trend is broken
Longer-term context reads early recovery, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryWeak / unconfirmed recovery
The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.
Key Financials
- Market Cap
- $4.3B
- Avg Volume (60D)
- 681.0K
- Revenue Growth YoY
- +6.9%
- Gross Margin
- +58.6%
- Operating Margin
- +14.9%
- Free Cash Flow Yield
- +1.0%
- Distance from 200DMA
- -15.7%
- Next Earnings
- 2026-10-27
- P/E
- 145.2x
- EV / EBITDA
- 28.2x
- EV / Sales
- 4.7x
60 sessions
Trailing twelve months
Trailing twelve months
Market metrics as of Sep 24, 2026
Fundamentals & Valuation
Both valuation perspectives agree this company is expensive.
MakeMyTrip Limited has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces. It trades at a 1.0% free-cash-flow yield and 28.2x EBITDA, which require sustained delivery to be justified.
Company Research
Thesis
MakeMyTrip is a leading India-focused online travel platform and a direct, multi-category beneficiary of higher travel volumes and greater online booking penetration. MMYT has a genuine, direct exposure to a distinct India travel-demand and online-booking-penetration story that is absent from the active narrative set.
Opportunity
Moderate opportunity
Rising Indian household travel consumption, growing middle-class discretionary spending, mobile-first commerce and the ongoing shift from fragmented offline travel agents to digital platforms that aggregate air, lodging, ground transport and packages.
Key risk
Economic downturns reducing travel demand.
Narrative & Theme
Indian Consumer Travel Formalization and Digital Booking Adoption
Part of Online Aggregation of Domestic and Outbound Travel Bookings, with moderate fit.
MMYT has a genuine, direct exposure to a distinct India travel-demand and online-booking-penetration story that is absent from the active narrative set.
Narrative HeatCooling4.1 / 10
This reading is no longer current (last measured 2026-08-14). It is kept until the next scheduled measurement replaces it.
Theme HeatHeating up7.0 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.
Business & Markets
Consumer Cyclical · Travel Services
What they do
MakeMyTrip Limited operates an online travel service platform offering booking services for air tickets, hotels, holiday packages, and bus tickets across multiple countries including India and the US.
How it earns
The company generates revenue primarily through transactional fees and commissions on travel bookings.
Products & services
Air tickets
Hotels and alternative accommodations
Holiday packages
Bus tickets
Rail tickets
Car hire
Tours and attractions
Travel assurance products
Customers & end markets
Individual travelers
Leisure travelers
Business travelers
Market position
MakeMyTrip is a leading online travel service provider in India with a significant presence in other international markets.
Demand drivers
High cyclicality
Travel services are sensitive to economic cycles, geopolitical events, and public health situations affecting travel demand.