Is MMYT a good stock to buy right now?

Based on our 6-factor quantitative model, MakeMyTrip Ltd (MMYT) receives a "Reduce" rating with a composite score of 44.5/100. It is ranked #2,637 out of 4,446 stocks. Key factor scores: Quality 42/100, Value 68/100, Momentum 26/100. The timing signal is "Bearish". This is quantitative analysis only — not investment advice.

What is the stock rating for MMYT?

MakeMyTrip Ltd (MMYT) has a "Reduce" rating and 2-star score. The composite score of 44.5 ranks it #2,637 among 4,446 U.S. stocks. Ratings are updated weekly using academically-proven factor models.

What sector is MMYT in?

MakeMyTrip Ltd operates in the Industrials sector (Transportation industry) with a market cap of $3.59 billion. It is classified as a mid-cap stock.

Does MMYT pay a dividend?

MMYT does not currently pay a regular dividend. The company may be reinvesting profits for growth.

What is MMYT's P/E ratio?

MMYT has a trailing P/E ratio of 49.51x. The Industrials sector average is 28.3x. This above-average P/E reflects growth expectations or premium valuation.

How profitable is MMYT?

MMYT's quality factor score is 42/100. Gross margin: 55.6%. ROE: 31.7% vs sector average 8.9%. High margins suggest pricing power and competitive moats.

How is MMYT valued compared to peers?

MMYT's value factor score is 68/100 (higher = cheaper). Key multiples: P/E 49.5x, EV/EBITDA 5.7x. The stock appears attractively valued versus peers.

What is MMYT's debt level?

MMYT's debt-to-equity ratio is 20%. Sector average: 70%. Low leverage suggests conservative financial management.

MMYT has a beta of 1.09, meaning it tracks the market. Stability score: 42/100.

Does MMYT have high short interest?

MMYT's short interest factor score is 55/100 (higher = less short selling). Moderate short interest.

MMYT Stock Analysis: Top Mid-Cap Reduce (Score 44.5/100) | Blank Capital Research

Data Series	1D	5D	1M	YTD	1Y	3Y	5Y	10Y
MMYT	-1.78%	+2.54%	-16.00%	-50.26%	-56.54%	-	-	-
Industry Proxy XLI	-0.39%	+4.73%	+0.88%	+10.57%	+38.89%	-	-	-
U.S. Market SPY	-0.07%	+3.60%	+0.34%	-0.36%	+29.52%	-	-	-
Alpha vs Market	-1.71%	-1.07%	-16.34%	-49.89%	-86.07%	-	-	-
Alpha vs Sector	-1.39%	-2.20%	-16.88%	-60.83%	-95.44%	-	-	-

Metric	MMYT	Benchmark
P/E Ratio	49.5x	+75%
EV/EBITDA	5.7x	+0%
Price / Book	3.0x

Stock Entity	Score▼	Quality	Value	Momentum	P/E Ratio	ROE	Gross Margin	Net Margin	Rev Growth	D/E Ratio	Market Cap	Compare
STNG Scorpio Tankers Inc.	64	43	96	73	-	93.3%	63.1%	53.8%	-	30.0x	$3.8B	VS
TNK TEEKAY TANKERS LTD.	62	50	97	71	6.4x	91.9%	67.0%	32.8%	-	0.0x	$2.5B	VS
TEN TSAKOS ENERGY NAVIGATION LTD	61	50	86	75	7.6x	42.1%	97.8%	22.6%	-	103.0x	$1.2B	VS
HAFN Hafnia Ltd	60	42	79	77	-	439.1%	48.5%	27.0%	-	0.0x	$3.8B	VS
TPH Tri Pointe Homes, Inc.	57	50	67	66	13.6x	8.8%	47.5%	7.9%	-26.0%	50.0x	$4.0B	VS
GLDD Great Lakes Dredge & Dock CORP	57	50	69	70	16.3x	13.5%	22.2%	8.1%	14.8%	73.0x	$1.1B	VS
SOBO South Bow Corp	57	39	79	66	22.0x	48.4%	82.3%	14.9%	-	219.0x	$6.8B	VS
IMPP Imperial Petroleum Inc./Marshall Islands	54	44	98	58	2.8x	47.7%	100.0%	34.0%	-19.7%	0.0x	$156M	VS
CCO Clear Channel Outdoor Holdings, Inc.	52	48	58	69	59.3x	-	53.4%	-0.3%	7.7%	-	$1.2B	VS
IMXI International Money Express, Inc.	52	50	73	52	11.6x	25.5%	0.0%	6.4%	-9.7%	221.0x	$476M	VS
MMYT MakeMyTrip Ltd	45	42	68	26	49.5x	31.7%	55.6%	9.7%	-	20.0x	$3.6B

Key Ratio	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
Gross Margin %	0.6%	0.6%	0.5%	0.5%	0.4%	0.9%	0.7%	0.6%	1.7%	0.4%
Operating Margin %	0.1%	0.1%	0.1%	0.0%	-0.1%	-0.4%	-0.8%	-0.3%	0.7%	-0.3%
EBITDA Margin %	0.2%	0.2%	0.1%	0.1%	-0.0%	-0.4%	-0.8%	-0.3%	-0.3%	-0.2%
Net Margin %	0.1%	0.1%	0.3%	-0.0%	-0.2%	-0.3%	-0.9%	-0.3%	-0.3%	-0.2%
FCF Margin %	17.7%	17.7%	13.1%	2.9%	1.6%	34.1%	4.6%	1.1%	-2.0%	-290.3%
ROE %	0.3%	0.1%	0.3%	-0.0%	-0.0%	-0.1%	-0.3%	-0.1%	-0.1%	-0.0%
ROA %	0.2%	0.1%	0.2%	-0.0%	-0.0%	-0.0%	-0.4%	-0.1%	-0.1%	-0.1%
ROIC %	10.2%	10.2%	5.1%	2.3%	-1.3%	-6.7%	-21.0%	-4.8%	-5.9%	-3.9%

Key Ratio

TTM

2025

2024

2023

2022

2021

2020

2019

2018

2017

Gross Margin %

0.6%

0.5%

0.4%

0.9%

0.7%

0.6%

1.7%

0.4%

Operating Margin %

0.1%

0.0%

-0.1%

-0.4%

-0.8%

-0.3%

0.7%

-0.3%

EBITDA Margin %

0.2%

0.1%

-0.0%

-0.4%

-0.8%

-0.3%

-0.2%

Net Margin %

0.1%

0.3%

-0.0%

-0.2%

-0.3%

-0.9%

-0.3%

-0.2%

FCF Margin %

17.7%

13.1%

2.9%

1.6%

34.1%

4.6%

1.1%

-2.0%

-290.3%

ROE %

0.3%

0.1%

0.3%

-0.0%

-0.1%

-0.3%

-0.1%

-0.0%

ROA %

0.2%

0.1%

0.2%

-0.0%

-0.4%

-0.1%

ROIC %

10.2%

5.1%

2.3%

-1.3%

-6.7%

-21.0%

-4.8%

-5.9%

-3.9%

Line Item	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
	$978M	$978M	$783M	$593M	$304M	$163M	$512M	$486M	$675M	$448M
	$544M	$544M	$567M	$284M	$245M	$141M	$357M	$313M	$499M	$200M
Gross Margin	55.6%	55.6%	53.6%	47.8%	42.0%	86.4%	69.8%	64.3%	174.0%	44.7%
	—	$27M	$27M	$27M	$29M	$9M	$34M	$27M	$4M	$0
	$120M	$120M	$65M	$24M	-$30M	-$68M	-$429M	-$153M	-$219M	-$135M
EBIT	$120M	$120M	$65M	$24M	-$30M	-$68M	-$429M	-$153M	-$219M	-$135M
EBITDA	$147M	$147M	$93M	$30M	-$2M	-$59M	-$385M	-$137M	-$217M	-$107M
Operating Margin	12.3%	12.3%	8.3%	4.0%	-12.8%	-41.4%	-84.0%	-31.5%	67.5%	-30.3%
EBITDA Margin	15.0%	15.0%	11.8%	5.0%	-0.6%	-35.9%	-75.3%	-28.2%	-32.1%	-24.0%
	—	$32M	-$3M	$47M	$26M	$5M	$21M	$11M	$4M	$18M
	—	$21M	-$124M	-$976K	-$1M	-$5M	-$29K	-$740K	$91K	$193K
	$95M	$95M	$364M	-$11M	-$46M	-$56M	-$448M	-$168M	-$220M	-$110M
Net Margin	9.7%	9.7%	27.7%	-1.9%	-15.4%	-34.3%	-87.5%	-34.5%	-32.6%	-24.6%
	$0.84	$0.84	$1.95	$-0.10	$-0.42	$-0.52	$-4.26	$-1.61	$-2.18	$-2.09
Diluted EPS	$0.84	$0.84	$1.95	$-0.10	$-0.42	$-0.52	$-4.26	$-1.61	$-2.18	$-2.09

Line Item

TTM

2025

2024

2023

2022

2021

2020

2019

2018

2017

$978M

$783M

$593M

$304M

$163M

$512M

$486M

$675M

$448M

$544M

$567M

$284M

$245M

$141M

$357M

$313M

$499M

$200M

Gross Margin

55.6%

53.6%

47.8%

42.0%

86.4%

69.8%

64.3%

174.0%

44.7%

—

$27M

$29M

$9M

$34M

$27M

$4M

$120M

$65M

$24M

-$30M

-$68M

-$429M

-$153M

-$219M

-$135M

EBIT

$120M

$65M

$24M

-$30M

-$68M

-$429M

-$153M

-$219M

-$135M

EBITDA

$147M

$93M

$30M

-$2M

-$59M

-$385M

-$137M

-$217M

-$107M

Operating Margin

12.3%

8.3%

4.0%

-12.8%

-41.4%

-84.0%

-31.5%

67.5%

-30.3%

EBITDA Margin

15.0%

11.8%

5.0%

-0.6%

-35.9%

-75.3%

-28.2%

-32.1%

-24.0%

—

$32M

-$3M

$47M

$26M

$5M

$21M

$11M

$4M

$18M

—

$21M

-$124M

-$976K

-$1M

-$5M

-$29K

-$740K

$91K

$193K

$95M

$364M

-$11M

-$46M

-$56M

-$448M

-$168M

-$220M

-$110M

Net Margin

9.7%

27.7%

-1.9%

-15.4%

-34.3%

-87.5%

-34.5%

-32.6%

-24.6%

$0.84

$1.95

$-0.10

$-0.42

$-0.52

$-4.26

$-1.61

$-2.18

$-2.09

Diluted EPS

$0.84

$1.95

$-0.10

$-0.42

$-0.52

$-4.26

$-1.61

$-2.18

$-2.09

MakeMyTrip Ltd (MMYT) Stock Analysis — April 2026 Rating, Price, and Forecast

Last updated: April 2026

Company Overview — What Does MakeMyTrip Ltd Do?

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing. Its services and products include air tickets; hotels; packages; rail tickets; bus tickets; and car hire, as well as ancillary travel requirements, such as visa processing and facilitating access to travel insurance. The company allows travelers to research, plan, book, and purchase travel services and products through its Websites makemytrip.com, goibibo.com, redbus.in, makemytrip.com.sg, and makemytrip.ae; and other technology-enhanced distribution channels, such as call centers, travel stores, and travel agents' network, as well as mobile service platform. As of March 31, 2021, it had approximately 150 franchisee-owned travel stores. The company serves leisure and corporate travelers. MakeMyTrip Limited was incorporated in 2000 and is based in Gurugram, India. MakeMyTrip Ltd (MMYT) is classified as a mid-cap stock in the Industrials sector, specifically within the Transportation industry. The company is led by CEO Rajesh Magow and employs approximately 3,340 people. With a market capitalization of $3.6B, MMYT is one of the notable companies in the Industrials sector.

MakeMyTrip Ltd (MMYT) Stock Rating — Reduce (April 2026)

As of April 2026, MakeMyTrip Ltd receives a Reduce rating with a composite score of 44.5/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.MMYT ranks #2,637 out of 4,446 stocks in our coverage universe. Within the Industrials sector, MakeMyTrip Ltd ranks #426 of 752 stocks, placing it in the lower half of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

MMYT Stock Price and 52-Week Range

MakeMyTrip Ltd (MMYT) currently trades at $41.59. The 52-week high for MMYT is $113.85, which means the stock is currently trading -63.5% from its annual peak. The 52-week low is $42.72, putting the stock -2.6% above its annual trough. Recent trading volume was 0 shares, suggesting relatively thin trading activity.

Is MMYT Overvalued or Undervalued? — Valuation Analysis

MakeMyTrip Ltd (MMYT) carries a value factor score of 68/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 49.51x, compared to the Industrials sector average of 28.33x — a premium of 75%. The price-to-book ratio stands at 3.02x, versus the sector average of 2.23x. The price-to-sales ratio is 0.93x, compared to 0.50x for the average Industrials stock. On an enterprise value basis, MMYT trades at 5.71x EV/EBITDA, versus 5.70x for the sector.

Overall, MMYT's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.

MakeMyTrip Ltd Profitability — ROE, Margins, and Quality Score

MakeMyTrip Ltd (MMYT) earns a quality factor score of 42/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 31.7%, compared to the Industrials sector average of 8.9%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 20.8% versus the sector average of 3.3%.

On a margin basis, MakeMyTrip Ltd reports gross margins of 55.6%, compared to 35.8% for the sector. The operating margin is 12.3% (sector: 6.2%). Net profit margin stands at 9.7%, versus 3.9% for the average Industrials stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

MMYT Debt, Balance Sheet, and Financial Health

MakeMyTrip Ltd has a debt-to-equity ratio of 20.0%, compared to the Industrials sector average of 70.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. Total debt on the balance sheet is $236M. Cash and equivalents stand at $509M.

MMYT has a beta of 1.09, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for MakeMyTrip Ltd is 42/100, reflecting average volatility within the normal range for its sector.

MakeMyTrip Ltd Revenue and Earnings History — Quarterly Trend

In TTM 2026, MakeMyTrip Ltd reported revenue of $978M and earnings per share (EPS) of $0.84. Net income for the quarter was $95M. Gross margin was 55.6%. Operating income came in at $120M.

In FY 2025, MakeMyTrip Ltd reported revenue of $978M and earnings per share (EPS) of $0.84. Net income for the quarter was $95M. Gross margin was 55.6%. Revenue grew 25.0% year-over-year compared to FY 2024. Operating income came in at $120M.

In FY 2024, MakeMyTrip Ltd reported revenue of $783M and earnings per share (EPS) of $1.95. Net income for the quarter was $364M. Gross margin was 53.6%. Revenue grew 32.0% year-over-year compared to FY 2023. Operating income came in at $65M.

In FY 2023, MakeMyTrip Ltd reported revenue of $593M and earnings per share (EPS) of $-0.10. Net income for the quarter was $-11M. Gross margin was 47.8%. Revenue grew 95.1% year-over-year compared to FY 2022. Operating income came in at $24M.

Over the past 8 quarters, MakeMyTrip Ltd has demonstrated a growth trajectory, with revenue expanding from $486M to $978M. Investors analyzing MMYT stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

MMYT Dividend Yield and Income Analysis

MakeMyTrip Ltd (MMYT) does not currently pay a dividend. This is common among smaller companies in the Transportation industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Industrials dividend stocks may want to explore other Industrials stocks or use the stock screener to filter by dividend yield.

MMYT Momentum and Technical Analysis Profile

MakeMyTrip Ltd (MMYT) has a momentum factor score of 26/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 54/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 55/100 reflects moderate short selling activity.

MMYT vs Competitors — Industrials Sector Ranking and Peer Comparison

Within the Industrials sector, MakeMyTrip Ltd (MMYT) ranks #426 out of 752 stocks based on the Blank Capital composite score. This places MMYT in the lower half of all Industrials stocks in our coverage universe. Key competitors and sector peers include South Bow Corp (SOBO) with a score of 56.5/100, TSAKOS ENERGY NAVIGATION LTD (TEN) with a score of 61.4/100, Great Lakes Dredge & Dock CORP (GLDD) with a score of 56.7/100, Tri Pointe Homes, Inc. (TPH) with a score of 57.3/100, and Clear Channel Outdoor Holdings, Inc. (CCO) with a score of 52.2/100.

Comparing MMYT against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full MMYT vs S&P 500 (SPY) comparison to assess how MakeMyTrip Ltd stacks up against the broader market across all factor dimensions.

MMYT Next Earnings Date

No upcoming earnings date has been announced for MakeMyTrip Ltd (MMYT) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy MMYT? — Investment Thesis Summary

The quantitative profile for MakeMyTrip Ltd suggests caution. The value score of 68/100 suggests attractive pricing relative to fundamentals. Momentum is weak at 26/100, a headwind for near-term performance.

In summary, MakeMyTrip Ltd (MMYT) earns a Reduce rating with a composite score of 44.5/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on MMYT stock.

Related Resources for MMYT Investors

Explore more research and tools: MMYT vs S&P 500 comparison, top Industrials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare MMYT head-to-head with peers: MMYT vs SOBO, MMYT vs TEN, MMYT vs GLDD.

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MakeMyTrip Ltd (MMYT) Stock Analysis — April 2026 Rating, Price, and Forecast

Company Overview — What Does MakeMyTrip Ltd Do?

MakeMyTrip Ltd (MMYT) Stock Rating — Reduce (April 2026)

MMYT Stock Price and 52-Week Range

Is MMYT Overvalued or Undervalued? — Valuation Analysis

MakeMyTrip Ltd Profitability — ROE, Margins, and Quality Score

MMYT Debt, Balance Sheet, and Financial Health

MakeMyTrip Ltd Revenue and Earnings History — Quarterly Trend

MMYT Dividend Yield and Income Analysis

MMYT Momentum and Technical Analysis Profile

MMYT vs Competitors — Industrials Sector Ranking and Peer Comparison

MMYT Next Earnings Date

Should You Buy MMYT? — Investment Thesis Summary

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