NASDAQ : MMYT
MakeMyTrip Limited — Financial statements
Consumer Discretionary · Travel Services · India
Last price 43 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 4.04B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
MakeMyTrip Limited (MMYT) reported revenue of 1.07B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 929.54M | 918.28M | 881.30M | 729.48M | 560.35M | 285.88M |
| Other Revenue | 136.99M | 125.71M | 97.03M | 53.04M | 32.68M | 18.05M |
| Revenue | 1.07B | 1.04B | 978.34M | 782.52M | 593.04M | 303.92M |
| Cost of Revenue | 434.76M | 432.69M | 434.41M | 362.68M | 309.54M | 175.67M |
| Gross Profit | 631.78M | 611.31M | 543.92M | 419.85M | 283.50M | 128.25M |
| Selling, General & Admin | 182.13M | 176.27M | 165.32M | 123.30M | 101.60M | 51.03M |
| Other Operating Expenses | 259.23M | 251.03M | 230.19M | 193.18M | 133.19M | 76.04M |
| Operating Expenses | 470.04M | 455.14M | 422.63M | 343.73M | 262.04M | 156.43M |
| Operating Income | 161.74M | 156.16M | 121.29M | 76.12M | 21.46M | -28.18M |
| Interest Expense | -109.42M | -91.86M | -16.94M | -17.75M | -16.62M | -15.31M |
| Interest & Investment Income | 26.47M | 27.15M | 28.26M | 24.31M | 10.97M | 9.98M |
| Earnings From Equity Investments | 16.00K | -2.00K | -64.00K | 52.00K | 10.00K | 34.00K |
| Currency Exchange Gain (Loss) | -41.28M | -41.28M | -13.35M | -7.60M | -25.64M | -8.22M |
| Other Non Operating Income (Expenses) | 29.06M | 29.06M | -1.90M | 28.66M | -1.66M | -2.79M |
| EBT Excluding Unusual Items | 66.58M | 79.23M | 117.29M | 103.79M | -11.47M | -44.50M |
| Gain (Loss) on Sale of Investments | 685.00K | 685.00K | -2.00K | 55.00K | -803.00K | 2.25M |
| Asset Writedown | -1.61M | -1.61M | -1.42M | -872.00K | 27.00K | -149.00K |
| Legal Settlements | -4.70M | |||||
| Other Unusual Items | 63.00K | 63.00K | 20.00K | -10.04M | 100.00K | 417.00K |
| Pretax Income | 65.72M | 78.37M | 115.89M | 92.94M | -12.14M | -46.67M |
| Income Tax Expense | 23.24M | 26.70M | 20.62M | -123.81M | -976.00K | -1.11M |
| Earnings From Continuing Operations | 42.48M | 51.67M | 95.27M | 216.74M | -11.17M | -45.57M |
| Minority Interest in Earnings | -788.00K | 134.00K | -173.00K | 58.00K | -153.00K | 162.00K |
| Net Income | 41.69M | 51.80M | 95.10M | 216.80M | -11.32M | -45.41M |
| Net Income to Common | 41.69M | 51.80M | 95.10M | 216.80M | -11.32M | -45.41M |
| Shares Outstanding (Basic) | 97.14M | 101.97M | 112.59M | 111.09M | 109.66M | 108.47M |
| Shares Outstanding (Diluted) | 104.47M | 109.67M | 114.54M | 118.24M | 109.66M | 108.47M |
| EPS (Basic) | 0.43 | 0.51 | 0.84 | 1.95 | -0.10 | -0.42 |
| EPS (Diluted) | 0.27 | 0.36 | 0.83 | 1.74 | -0.10 | -0.42 |
| Free Cash Flow | 164.75M | 178.03M | 180.81M | 119.84M | 24.72M | 3.10M |
| Free Cash Flow Per Share | 1.58 | 1.62 | 1.58 | 1.01 | 0.23 | 0.03 |
| Gross Margin | 59.24% | 58.55% | 55.60% | 53.65% | 47.80% | 42.20% |
| Operating Margin | 15.17% | 14.96% | 12.40% | 9.73% | 3.62% | -9.27% |
| Profit Margin | 3.91% | 4.96% | 9.72% | 27.71% | -1.91% | -14.94% |
| Free Cash Flow Margin | 15.45% | 17.05% | 18.48% | 15.31% | 4.17% | 1.02% |
| EBITDA | 179.25M | 172.84M | 137.80M | 99.60M | 48.71M | 1.17M |
| EBITDA Margin | 16.81% | 16.56% | 14.09% | 12.73% | 8.21% | 0.39% |
| D&A For EBITDA | 17.51M | 16.68M | 16.52M | 23.48M | 27.25M | 29.36M |
| EBIT | 161.74M | 156.16M | 121.29M | 76.12M | 21.46M | -28.18M |
| EBIT Margin | 15.17% | 14.96% | 12.40% | 9.73% | 3.62% | -9.27% |
| Effective Tax Rate | 35.37% | 34.07% | 17.79% | |||
| Revenue as Reported | 1.07B | 1.04B | 978.34M | 782.52M | 593.04M | 303.92M |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 427.90M | 424.83M | 508.90M | 327.06M | 284.02M | 213.28M |
| Short-Term Investments | 381.03M | 340.30M | 252.29M | 279.72M | 197.06M | 264.18M |
| Cash & Short-Term Investments | 808.93M | 765.12M | 761.18M | 606.79M | 481.07M | 477.46M |
| Accounts Receivable | 224.62M | 163.09M | 141.65M | 92.20M | 68.85M | 35.91M |
| Other Receivables | 9.14M | 4.95M | 117.00K | 117.00K | ||
| Receivables | 224.62M | 163.09M | 150.79M | 97.17M | 69.01M | 36.03M |
| Inventory | 110.00K | 612.00K | 363.00K | 218.00K | 25.00K | 11.00K |
| Prepaid Expenses | 5.98M | 5.51M | 4.61M | 3.52M | 4.23M | |
| Other Current Assets | 144.47M | 111.67M | 147.42M | 148.49M | 118.28M | 73.64M |
| Total Current Assets | 1.18B | 1.05B | 1.07B | 857.28M | 671.91M | 591.37M |
| Property, Plant & Equipment | 21.76M | 21.65M | 26.46M | 25.89M | 25.38M | 19.31M |
| Long-Term Investments | 21.01M | 32.05M | 5.02M | 4.35M | 8.96M | 7.59M |
| Goodwill | 515.38M | 551.90M | 559.88M | 561.50M | 601.15M | |
| Other Intangible Assets | 538.83M | 36.87M | 45.89M | 53.50M | 67.47M | 84.51M |
| Long-Term Accounts Receivable | 8.22M | 9.18M | 8.88M | 7.70M | 6.18M | 3.71M |
| Long-Term Deferred Tax Assets | 56.81M | 70.50M | 106.43M | 129.32M | ||
| Other Long-Term Assets | 12.87M | 22.77M | 18.45M | 22.16M | 18.43M | 15.05M |
| Total Assets | 1.84B | 1.75B | 1.83B | 1.66B | 1.36B | 1.32B |
| Accounts Payable | 160.59M | 83.90M | 91.24M | 67.05M | 45.75M | 33.52M |
| Accrued Expenses | 78.41M | 87.20M | 86.78M | 69.71M | 51.41M | |
| Short-Term Debt | 791.00K | 822.00K | 536.00K | |||
| Current Portion of Long-Term Debt | 6.56M | 1.42M | 217.56M | 1.12M | 216.88M | 437.00K |
| Current Portion of Leases | 4.46M | 4.58M | 3.69M | 2.63M | 2.34M | |
| Current Unearned Revenue | 147.09M | 113.00M | 120.10M | 93.06M | 75.48M | 53.59M |
| Other Current Liabilities | 85.58M | 61.19M | 55.40M | 45.87M | 43.20M | 49.92M |
| Total Current Liabilities | 400.61M | 343.20M | 576.61M | 297.57M | 453.66M | 191.22M |
| Long-Term Debt | 1.45B | 1.39B | 3.12M | 203.85M | 1.90M | 202.19M |
| Long-Term Leases | 12.00M | 7.32M | 10.78M | 12.97M | 13.75M | 11.61M |
| Long-Term Unearned Revenue | 164.00K | 147.00K | 175.00K | 413.00K | 240.00K | 434.00K |
| Pension & Post-Retirement Benefits | 16.77M | 16.48M | 14.71M | 11.66M | 8.89M | 9.09M |
| Long-Term Deferred Tax Liabilities | 36.84M | 47.14M | 2.53M | 4.75M | 822.00K | 2.60M |
| Other Long-Term Liabilities | 6.65M | 6.65M | 12.40M | 12.44M | 4.51M | 9.13M |
| Total Liabilities | 1.92B | 1.81B | 620.31M | 543.66M | 483.77M | 426.27M |
| Common Stock | 48.00K | 48.00K | 56.00K | 55.00K | 53.00K | 53.00K |
| Additional Paid-In Capital | 2.72B | 2.71B | 2.20B | 2.16B | 2.06B | 2.03B |
| Retained Earnings | -2.78B | -2.79B | -929.87M | -1.02B | -1.23B | -1.21B |
| Treasury Stock | -138.40M | -113.45M | -21.72M | |||
| Comprehensive Income & Other | 111.70M | 124.22M | -49.28M | -29.90M | 40.14M | 73.57M |
| Total Common Equity | -91.02M | -67.77M | 1.20B | 1.11B | 869.57M | 894.13M |
| Minority Interest | 9.90M | 9.31M | 5.35M | 5.56M | 6.49M | 2.34M |
| Shareholders' Equity | -81.11M | -58.46M | 1.21B | 1.12B | 876.06M | 896.48M |
| Total Liabilities & Equity | 1.84B | 1.75B | 1.83B | 1.66B | 1.36B | 1.32B |
| Total Debt | 1.47B | 1.41B | 236.57M | 221.62M | 235.16M | 216.58M |
| Net Cash (Debt) | -656.13M | -641.30M | 524.61M | 385.16M | 245.91M | 260.88M |
| Net Cash Per Share | -6.28 | -5.85 | 4.58 | 3.26 | 2.24 | 2.41 |
| Filing Date Shares Outstanding | 96.84M | 94.06M | 111.03M | 109.78M | 106.13M | 105.27M |
| Total Common Shares Outstanding | 96.84M | 94.06M | 111.03M | 109.78M | 106.13M | 105.27M |
| Working Capital | 777.53M | 703.28M | 488.65M | 559.70M | 218.25M | 400.15M |
| Book Value Per Share | -0.94 | -0.72 | 10.83 | 10.12 | 8.19 | 8.49 |
| Tangible Book Value | -629.84M | -620.02M | 604.84M | 497.47M | 240.59M | 208.48M |
| Tangible Book Value Per Share | -6.50 | -6.59 | 5.45 | 4.53 | 2.27 | 1.98 |
| Land | 441.00K | 823.00K | 768.00K | 818.00K | 839.00K | |
| Buildings | 589.00K | 495.00K | 462.00K | 486.00K | 505.00K | |
| Machinery | 24.01M | 24.22M | 20.74M | 19.94M | 18.56M | |
| Construction In Progress | 39.00K | 19.00K | ||||
| Leasehold Improvements | 5.96M | 6.48M | 5.42M | 5.39M | 4.55M |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 41.69M | 51.80M | 95.10M | 216.80M | -11.32M | -45.41M |
| Depreciation & Amortization | 22.17M | 21.33M | 20.90M | 27.25M | 27.25M | 29.36M |
| Other Amortization | 6.51M | 6.51M | 6.22M | |||
| Asset Writedown & Restructuring Costs | 1.61M | 1.61M | 1.42M | 10.92M | -27.00K | 149.00K |
| Loss (Gain) From Sale of Investments | -1.36M | -1.36M | -2.02M | -2.25M | ||
| Loss (Gain) on Equity Investments | 2.00K | 2.00K | 64.00K | -52.00K | -10.00K | -34.00K |
| Stock-Based Compensation | 22.98M | 22.98M | 36.02M | 36.96M | 35.64M | 36.65M |
| Other Operating Activities | 115.83M | 99.75M | 19.16M | -161.21M | 30.63M | 25.91M |
| Change in Accounts Receivable | -22.60M | -22.60M | -52.42M | -25.11M | -37.67M | -11.01M |
| Change in Inventory | -273.00K | -273.00K | -145.00K | -195.00K | -6.00K | 29.00K |
| Change in Accounts Payable | -32.78M | -32.78M | 51.18M | 42.52M | 42.67M | 26.54M |
| Change in Other Net Operating Assets | 15.48M | 35.56M | 7.79M | -22.14M | -52.92M | -53.73M |
| Operating Cash Flow | 169.26M | 182.54M | 185.29M | 125.74M | 32.21M | 6.20M |
| Capital Expenditures | -4.51M | -4.51M | -4.47M | -5.90M | -7.49M | -3.10M |
| Sale of Property, Plant & Equipment | 1.29M | 1.29M | 437.00K | 389.00K | 410.00K | 304.00K |
| Cash Acquisitions | -12.51M | -12.51M | -10.39M | -6.48M | -1.46M | |
| Sale (Purchase) of Intangibles | -10.02M | -10.02M | -7.29M | -6.92M | -9.41M | -9.81M |
| Investment in Securities | -123.34M | -123.34M | 23.91M | -77.72M | 56.54M | -111.22M |
| Other Investing Activities | 44.80M | 22.01M | 24.25M | 21.04M | 8.04M | 46.02M |
| Investing Cash Flow | -104.28M | -127.08M | 26.44M | -75.59M | 46.63M | -77.81M |
| Long-Term Debt Issued | 1.44B | 2.11M | 2.17M | 1.17M | ||
| Long-Term Debt Repaid | -11.11M | -5.22M | -4.11M | -3.16M | -2.25M | |
| Lease Payments | -4.69M | -4.69M | -3.76M | -3.10M | -2.42M | -1.77M |
| Net Debt Issued (Repaid) | 1.43B | 1.43B | -5.22M | -2.00M | -996.00K | -1.08M |
| Issuance of Common Stock | 1.66B | 1.66B | 7.01M | 6.00M | 2.20M | 36.00K |
| Repurchase of Common Stock | -3.16B | -3.13B | -21.84M | |||
| Other Financing Activities | -63.89M | -60.58M | -2.84M | -10.23M | -7.41M | -8.52M |
| Financing Cash Flow | -135.66M | -107.41M | -22.89M | -6.24M | -6.21M | -9.57M |
| Foreign Exchange Rate Adjustments | -23.45M | -32.41M | -7.54M | -867.00K | -1.90M | -608.00K |
| Net Cash Flow | -94.14M | -84.36M | 181.30M | 43.05M | 70.73M | -81.78M |
| Free Cash Flow | 164.75M | 178.03M | 180.81M | 119.84M | 24.72M | 3.10M |
| Free Cash Flow Margin | 15.45% | 17.05% | 18.48% | 15.31% | 4.17% | 1.02% |
| Free Cash Flow Per Share | 1.58 | 1.62 | 1.58 | 1.01 | 0.23 | 0.03 |
| Levered Free Cash Flow | 35.98M | 81.78M | 124.17M | 86.84M | 17.78M | -15.07M |
| Unlevered Free Cash Flow | 104.36M | 139.19M | 134.76M | 97.93M | 28.17M | -5.50M |
| Free Cash Flow After Leases | 160.06M | 173.34M | 177.05M | 116.73M | 22.31M | 1.33M |
| Cash Interest Paid | 2.65M | 2.65M | 2.84M | 2.80M | 2.38M | 2.36M |
| Cash Income Tax Paid | 5.63M | 5.63M | 6.07M | 10.58M | 4.36M | -11.05M |
| Change in Working Capital | -40.17M | -20.09M | 6.41M | -4.92M | -47.93M | -38.17M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.01B | 3.54B | 10.76B | 7.75B | 2.58B | 2.81B |
| Enterprise Value | 4.67B | 4.14B | 10.29B | 7.40B | 2.37B | 2.56B |
| Last Close Price | 42.68 | 37.29 | 97.99 | 71.05 | 24.47 | 26.83 |
| PE Ratio | 155.53 | 68.29 | 113.12 | 35.74 | ||
| Forward PE | 70.27 | 74.58 | 82.73 | 68.09 | 76.09 | 125.67 |
| PS Ratio | 3.76 | 3.39 | 11.00 | 9.90 | 4.34 | 9.25 |
| PB Ratio | -60.51 | 8.90 | 6.94 | 2.94 | 3.13 | |
| P/TBV Ratio | 17.79 | 15.58 | 10.71 | 13.48 | ||
| P/FCF Ratio | 24.37 | 19.87 | 59.50 | 64.66 | 104.19 | 905.86 |
| P/OCF Ratio | 23.72 | 19.38 | 58.06 | 61.63 | 79.97 | 453.15 |
| PEG Ratio | 4.68 | 5.17 | 5.17 | 4.57 | 4.57 | 4.57 |
| EV/Sales Ratio | 4.38 | 3.96 | 10.52 | 9.45 | 4.00 | 8.44 |
| EV/EBITDA Ratio | 26.06 | 23.95 | 74.69 | 74.26 | 48.66 | 2,186.45 |
| EV/EBIT Ratio | 28.88 | 26.50 | 84.86 | 97.16 | 110.44 | |
| EV/FCF Ratio | 28.35 | 23.25 | 56.92 | 61.72 | 95.86 | 826.79 |
| Debt / Equity Ratio | -18.06 | -24.06 | 0.20 | 0.20 | 0.27 | 0.24 |
| Debt / EBITDA Ratio | 7.97 | 7.92 | 1.66 | 2.14 | 4.83 | 184.64 |
| Debt / FCF Ratio | 8.89 | 7.90 | 1.31 | 1.85 | 9.51 | 69.82 |
| Net Debt / Equity Ratio | -8.09 | -10.97 | -0.43 | -0.34 | -0.28 | -0.29 |
| Net Debt / EBITDA Ratio | 3.66 | 3.71 | -3.81 | -3.87 | -5.05 | -222.40 |
| Net Debt / FCF Ratio | 3.98 | 3.60 | -2.90 | -3.21 | -9.95 | -84.10 |
| Asset Turnover | 0.58 | 0.58 | 0.56 | 0.52 | 0.44 | 0.23 |
| Inventory Turnover | 1,154.74 | 887.56 | 1,495.40 | 2,984.99 | 17,196.39 | 6,889.18 |
| Quick Ratio | 2.58 | 2.71 | 1.58 | 2.37 | 1.21 | 2.69 |
| Current Ratio | 2.94 | 3.05 | 1.85 | 2.88 | 1.48 | 3.09 |
| Return on Equity (ROE) | 8.99% | 8.20% | 21.76% | -1.26% | -5.10% | |
| Return on Assets (ROA) | 5.47% | 5.45% | 4.35% | 3.15% | 1.00% | -1.34% |
| Return on Invested Capital (ROIC) | 7.28% | 9.83% | 14.10% | 11.18% | 3.39% | -4.32% |
| Return on Capital Employed (ROCE) | 11.30% | 11.10% | 9.70% | 5.60% | 2.40% | -2.50% |
| Earnings Yield | 0.64% | 1.46% | 0.88% | 2.80% | -0.44% | -1.62% |
| FCF Yield | 4.10% | 5.03% | 1.68% | 1.55% | 0.96% | 0.11% |
| Buyback Yield / Dilution | 6.22% | 4.25% | 3.13% | -7.82% | -1.09% | -1.57% |