GBTG
Global Business Travel Group, Inc.
Software - Application
Market Cap$4.94B
5Y Perf.-4.9%
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Stock Comparison
GBTG vs MMYT
Revenue, margins, valuation, and 5-year total return — side by side.
MMYT
MakeMyTrip Limited
Travel Services
Market Cap$4.43B
5Y Perf.+99.5%
GBTG vs MMYT — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | GBTG | MMYT |
|---|---|---|
| Industry | Software - Application | Travel Services |
| Market Cap | $4.94B | $4.43B |
| Revenue (TTM) | $2.94B | $1.04B |
| Net Income (TTM) | $86M | $57M |
| Gross Margin | 59.0% | 73.4% |
| Operating Margin | 4.4% | 14.1% |
| Forward P/E | 57.8x | 71.7x |
| Total Debt | $1.51B | $237M |
| Cash & Equiv. | $434M | $509M |
GBTG vs MMYT — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
GBTG
MMYT
| Stock | Nov 20 | May 26 | Return |
|---|---|---|---|
| Global Business Tra… (GBTG) | 100 | 95.1 | -4.9% |
| MakeMyTrip Limited (MMYT) | 100 | 199.5 | +99.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: GBTG vs MMYT
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: MMYT leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Global Business Travel Group, Inc. is the stronger pick specifically for valuation and capital efficiency and recent price momentum and sentiment. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
GBTG
Global Business Travel Group, Inc.
The Value Play
GBTG is the clearest fit if your priority is value and momentum.
- Lower P/E (57.8x vs 71.7x)
- +52.8% vs MMYT's -56.0%
Best for: value and momentum
MMYT
MakeMyTrip Limited
The Income Pick
MMYT carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- beta 1.17
- Rev growth 25.0%, EPS growth -54.6%, 3Y rev CAGR 47.7%
- 187.2% 10Y total return vs GBTG's -2.3%
Best for: income & stability and growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | MMYT | 25.0% revenue growth vs GBTG's 12.2% |
| Value | GBTG | Lower P/E (57.8x vs 71.7x) |
| Quality / Margins | MMYT | 5.5% margin vs GBTG's 2.9% |
| Stability / Safety | MMYT | Beta 1.17 vs GBTG's 1.44, lower leverage |
| Dividends | Tie | Neither stock pays a meaningful dividend |
| Momentum (1Y) | GBTG | +52.8% vs MMYT's -56.0% |
| Efficiency (ROA) | MMYT | 3.1% ROA vs GBTG's 1.8%, ROIC 9.2% vs 5.8% |
GBTG vs MMYT — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
GBTG vs MMYT — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLMMYTLAGGINGGBTG
GBTGGlobal Business Trave…
1leads
MMYTMakeMyTrip Limited
3leads
6 Total Categories
CATEGORYLEADERvs GBTGMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
MMYT4/6
Valuation MetricsMultiples, price ratios, and targets
GBTG5/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
MMYT8/9
Total Returns1Y, 3Y, 5Y total returns with dividends
MMYT4/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
MMYT leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
GBTG is the larger business by revenue, generating $2.9B annually — 2.8x MMYT's $1.0B. Profitability is closely matched — net margins range from 5.5% (MMYT) to 2.9% (GBTG). On growth, GBTG holds the edge at +35.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | GBTGGlobal Business T… | MMYTMakeMyTrip Limited |
|---|---|---|
| RevenueTrailing 12 months | $2.9B | $1.0B |
| EBITDAEarnings before interest/tax | $341M | $175M |
| Net IncomeAfter-tax profit | $86M | $57M |
| Free Cash FlowCash after capex | $26M | $224M |
| Gross MarginGross profit ÷ Revenue | +59.0% | +73.4% |
| Operating MarginEBIT ÷ Revenue | +4.4% | +14.1% |
| Net MarginNet income ÷ Revenue | +2.9% | +5.5% |
| FCF MarginFCF ÷ Revenue | +0.9% | +21.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +35.3% | +10.6% |
| EPS Growth (YoY)Latest quarter vs prior year | -37.5% | -68.3% |
MMYT leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
GBTG leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 44.9x trailing earnings, GBTG trades at a 25% valuation discount to MMYT's 59.6x P/E. On an enterprise value basis, GBTG's 16.1x EV/EBITDA is more attractive than MMYT's 28.3x.
| Metric | GBTGGlobal Business T… | MMYTMakeMyTrip Limited |
|---|---|---|
| Market CapShares × price | $4.9B | $4.4B |
| Enterprise ValueMkt cap + debt − cash | $6.0B | $4.2B |
| Trailing P/EPrice ÷ TTM EPS | 44.90x | 59.63x |
| Forward P/EPrice ÷ next-FY EPS est. | 57.78x | 71.69x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 16.06x | 28.30x |
| Price / SalesMarket cap ÷ Revenue | 1.82x | 4.53x |
| Price / BookPrice ÷ Book value/share | 2.97x | 4.69x |
| Price / FCFMarket cap ÷ FCF | 47.45x | 25.55x |
GBTG leads this category, winning 5 of 6 comparable metrics.
Profitability & Efficiency
MMYT leads this category, winning 8 of 9 comparable metrics.
Profitability & Efficiency
MMYT delivers a 8.2% return on equity — every $100 of shareholder capital generates $8 in annual profit, vs $6 for GBTG. MMYT carries lower financial leverage with a 0.20x debt-to-equity ratio, signaling a more conservative balance sheet compared to GBTG's 0.91x. On the Piotroski fundamental quality scale (0–9), MMYT scores 6/9 vs GBTG's 5/9, reflecting solid financial health.
| Metric | GBTGGlobal Business T… | MMYTMakeMyTrip Limited |
|---|---|---|
| ROE (TTM)Return on equity | +5.7% | +8.2% |
| ROA (TTM)Return on assets | +1.8% | +3.1% |
| ROICReturn on invested capital | +5.8% | +9.2% |
| ROCEReturn on capital employed | +5.7% | +9.2% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 |
| Debt / EquityFinancial leverage | 0.91x | 0.20x |
| Net DebtTotal debt minus cash | $1.1B | -$272M |
| Cash & Equiv.Liquid assets | $434M | $509M |
| Total DebtShort + long-term debt | $1.5B | $237M |
| Interest CoverageEBIT ÷ Interest expense | 1.74x | 1.67x |
MMYT leads this category, winning 8 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
MMYT leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in MMYT five years ago would be worth $19,804 today (with dividends reinvested), compared to $9,496 for GBTG. Over the past 12 months, GBTG leads with a +52.8% total return vs MMYT's -56.0%. The 3-year compound annual growth rate (CAGR) favors MMYT at 24.6% vs GBTG's 18.7% — a key indicator of consistent wealth creation.
| Metric | GBTGGlobal Business T… | MMYTMakeMyTrip Limited |
|---|---|---|
| YTD ReturnYear-to-date | +25.4% | -39.6% |
| 1-Year ReturnPast 12 months | +52.8% | -56.0% |
| 3-Year ReturnCumulative with dividends | +67.2% | +93.5% |
| 5-Year ReturnCumulative with dividends | -5.0% | +98.0% |
| 10-Year ReturnCumulative with dividends | -2.3% | +187.2% |
| CAGR (3Y)Annualised 3-year return | +18.7% | +24.6% |
MMYT leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
Evenly matched — GBTG and MMYT each lead in 1 of 2 comparable metrics.
Risk & Volatility
MMYT is the less volatile stock with a 1.17 beta — it tends to amplify market swings less than GBTG's 1.44 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. GBTG currently trades 98.8% from its 52-week high vs MMYT's 43.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | GBTGGlobal Business T… | MMYTMakeMyTrip Limited |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.44x | 1.17x |
| 52-Week HighHighest price in past year | $9.54 | $113.85 |
| 52-Week LowLowest price in past year | $4.96 | $32.84 |
| % of 52W HighCurrent price vs 52-week peak | +98.8% | +43.5% |
| RSI (14)Momentum oscillator 0–100 | 87.6 | 52.9 |
| Avg Volume (50D)Average daily shares traded | 3.4M | 1.5M |
Evenly matched — GBTG and MMYT each lead in 1 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates GBTG as "Buy" and MMYT as "Buy". Consensus price targets imply 83.9% upside for MMYT (target: $91) vs -4.0% for GBTG (target: $9).
| Metric | GBTGGlobal Business T… | MMYTMakeMyTrip Limited |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $9.05 | $91.00 |
| # AnalystsCovering analysts | 8 | 11 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 0 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +1.5% | +0.5% |
Insufficient data to determine a leader in this category.
Key Takeaway
MMYT leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). GBTG leads in 1 (Valuation Metrics). 1 tied.
Best OverallMakeMyTrip Limited (MMYT)Leads 3 of 6 categories
Loading custom metrics...
GBTG vs MMYT: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is GBTG or MMYT a better buy right now?
For growth investors, MakeMyTrip Limited (MMYT) is the stronger pick with 25.
0% revenue growth year-over-year, versus 12. 2% for Global Business Travel Group, Inc. (GBTG). Global Business Travel Group, Inc. (GBTG) offers the better valuation at 44. 9x trailing P/E (57. 8x forward), making it the more compelling value choice. Analysts rate Global Business Travel Group, Inc. (GBTG) a "Buy" — based on 8 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — GBTG or MMYT?
On trailing P/E, Global Business Travel Group, Inc.
(GBTG) is the cheapest at 44. 9x versus MakeMyTrip Limited at 59. 6x. On forward P/E, Global Business Travel Group, Inc. is actually cheaper at 57. 8x.
03Which is the better long-term investment — GBTG or MMYT?
Over the past 5 years, MakeMyTrip Limited (MMYT) delivered a total return of +98.
0%, compared to -5. 0% for Global Business Travel Group, Inc. (GBTG). Over 10 years, the gap is even starker: MMYT returned +187. 2% versus GBTG's -2. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — GBTG or MMYT?
By beta (market sensitivity over 5 years), MakeMyTrip Limited (MMYT) is the lower-risk stock at 1.
17β versus Global Business Travel Group, Inc. 's 1. 44β — meaning GBTG is approximately 23% more volatile than MMYT relative to the S&P 500. On balance sheet safety, MakeMyTrip Limited (MMYT) carries a lower debt/equity ratio of 20% versus 91% for Global Business Travel Group, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — GBTG or MMYT?
By revenue growth (latest reported year), MakeMyTrip Limited (MMYT) is pulling ahead at 25.
0% versus 12. 2% for Global Business Travel Group, Inc. (GBTG). On earnings-per-share growth, the picture is similar: Global Business Travel Group, Inc. grew EPS 170. 0% year-over-year, compared to -54. 6% for MakeMyTrip Limited. Over a 3-year CAGR, MMYT leads at 47. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — GBTG or MMYT?
MakeMyTrip Limited (MMYT) is the more profitable company, earning 9.
7% net margin versus 4. 0% for Global Business Travel Group, Inc. — meaning it keeps 9. 7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MMYT leads at 12. 3% versus 6. 7% for GBTG. At the gross margin level — before operating expenses — MMYT leads at 72. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is GBTG or MMYT more undervalued right now?
On forward earnings alone, Global Business Travel Group, Inc.
(GBTG) trades at 57. 8x forward P/E versus 71. 7x for MakeMyTrip Limited — 13. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MMYT: 83. 9% to $91. 00.
08Which pays a better dividend — GBTG or MMYT?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
09Is GBTG or MMYT better for a retirement portfolio?
For long-horizon retirement investors, MakeMyTrip Limited (MMYT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.
17), +187. 2% 10Y return). Both have compounded well over 10 years (MMYT: +187. 2%, GBTG: -2. 3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between GBTG and MMYT?
These companies operate in different sectors (GBTG (Technology) and MMYT (Consumer Cyclical)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: GBTG is a small-cap quality compounder stock; MMYT is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(GBTG: 35.3% · MMYT: 10.6%)Net Margin>
%
(GBTG: 2.9% · MMYT: 5.5%)P/E Ratio<
x
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