MakeMyTrip Limited (MMYT)
Consumer · NMS
Price as at 1 Oct 2026, 15:14 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
MakeMyTrip Limited trades at $47.50, which is 59% above the $19.68 our fair value estimate puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 46 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 144.7 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
MMYT earnings and analyst estimates
Recommendation mix, 10 published ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About MakeMyTrip Limited
MakeMyTrip Limited, together with its subsidiaries, operates as a travel service provider in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, Saudi Arabia, Cambodia, and Indonesia. The company operates through three segments: Air Ticketing, Hotels, and Packages and Bus Ticketing. Its products and services include air tickets, hotels and alternative accommodations, holiday packages, bus tickets, rail tickets, car hire, tours and attractions, travel assurance products and add-on products for bookings; activities and experiences and ancillary travel requirements, such as facilitating access to third-party travel and other insurance products; and visa-related products and services under the MakeMyTrip, Goibibo, and redBus brands, as well as foreign exchange, prepaid forex cards, cross-border remittances and related financial services. The company allows travelers to research, plan, and book a range of travel services and products in India and internationally through its primary websites, including makemytrip.com, goibibo.com, redbus.in, and makemytrip.ae; and other technology-enhanced distribution channels, such as call centers, franchisee-owned travel stores, and travel agents' network, as well as its mobile applications. It primarily serves leisure travelers and corporates. The company was formerly known as International Web Travel Private Limited and changed its name to MakeMyTrip Limited in March 2010. MakeMyTrip Limited was incorporated in 2000 and is based in Gurugram, India.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
MMYT peers
The largest companies in the same industry (Travel Services), then in the same sector.
- VIK Viking Holdings Ltd
- CCL Carnival Corporation Ltd.
- TRPCF Trip.com Group Limited
- NCLH Norwegian Cruise Line Holdings Ltd.
- LIND Lindblad Expeditions Holdings, Inc.
- TRIP Tripadvisor, Inc.
- FLT.AX Flight Centre Travel Group Limited
- PRSU Pursuit Attractions and Hospitality, Inc.
Every consumer company we cover is on the Consumer hub.
Common questions
Is MakeMyTrip Limited (MMYT) undervalued?
Against our fair value estimate of $19.68, MMYT at $47.50 is 59% above fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
What is MMYT's P/E ratio?
MMYT trades at 144.7 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Where does SteadyShares get its MMYT data?
Fundamentals for MMYT come from company filings and exchange data, as listed on NMS; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 1 Oct 2026, 15:14 UTC and is delayed. Our data quality score for this company is 88/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for MMYT, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.