Last 47 quarters of trend data · Consumer Cyclical · Travel Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
MakeMyTrip Limited's quarterly P/E stands at 281.2x, up 130.4% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has compressed 36.4% YoY to 49.1x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 60.86 | 281.23 | — | 111.39 | 97.99 | 122.04 | 145.23 | 110.66 | 14.10 | 53.39 | 506.50 | 39.68 | 122.35 |
| — | +130.4% | — | +0.7% | +595.1% | +128.6% | -71.3% | +178.9% | -88.5% | -99.2% | — | — | — | |
| P/S Ratio | 4.62 | 6.90 | 10.00 | 10.69 | 11.43 | 12.12 | 12.64 | 9.37 | 10.39 | 6.18 | 6.75 | 3.83 | 4.58 |
| — | -43.1% | -20.9% | +14.0% | +10.0% | +96.2% | +87.1% | +144.8% | +127.0% | +37.3% | +5.3% | -22.0% | -44.4% | |
| P/B Ratio | 4.79 | — | — | 186.20 | 9.29 | 10.88 | 9.10 | 8.32 | 7.55 | 5.62 | 5.02 | 3.33 | 3.10 |
| — | — | — | +2136.7% | +23.0% | +93.4% | +81.4% | +149.7% | +143.4% | +57.6% | +27.9% | +4.0% | -4.6% | |
| P/FCF | 26.07 | 44.74 | 47.10 | 68.69 | 31.94 | — | 74.80 | 32.99 | — | 18.38 | 63.91 | 20.62 | 18.44 |
| — | — | -37.0% | +108.2% | — | — | +17.1% | +60.0% | — | — | -65.8% | — | — | |
| EV / EBITDA | 28.92 | 49.13 | 62.24 | 65.07 | 71.60 | 77.25 | 79.92 | 68.23 | 87.87 | 44.52 | 83.57 | 28.13 | 45.35 |
| — | -36.4% | -22.1% | -4.6% | -18.5% | +73.5% | -4.4% | +142.5% | +93.8% | -17.3% | +7.5% | -54.5% | -36.8% | |
| EV / EBIT | 35.47 | 49.28 | 61.86 | 65.59 | 118.11 | 77.50 | 78.71 | 67.18 | 46.75 | 43.04 | 92.72 | 30.86 | — |
| — | -36.4% | -21.4% | -2.4% | +152.6% | +80.1% | -15.1% | +117.7% | — | -41.2% | -22.2% | -73.5% | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
MakeMyTrip Limited's operating margin was 13.8% in Q3 2026, down 1.2 pp QoQ and up 0.9 pp YoY.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.0% | 70.3% | 77.5% | 72.1% | 74.7% | 71.1% | 76.4% | 66.6% | 74.0% | 70.9% | 76.1% | 69.7% | 71.2% |
| — | -1.1% | +1.5% | +8.4% | +1.0% | +0.2% | +0.4% | -4.5% | +3.9% | +8.5% | +0.9% | +0.1% | -11.8% | |
| Operating Margin | 12.3% | 13.8% | 15.0% | 15.0% | 12.7% | 13.0% | 12.4% | 10.9% | 8.2% | 10.6% | 4.0% | 9.7% | 5.4% |
| — | +6.6% | +21.3% | +37.2% | +54.4% | +22.7% | +210.9% | +12.5% | +53.5% | +141.4% | +34.0% | +225.4% | +41.8% | |
| Net Margin | 9.7% | 2.5% | -2.4% | 9.6% | 11.9% | 10.1% | 8.5% | 8.3% | 84.8% | 11.3% | 1.2% | 9.4% | 3.8% |
| — | -75.7% | -128.9% | +16.7% | -86.0% | -10.8% | +589.2% | -11.9% | +2123.1% | +20681.7% | +123.1% | +232.6% | +183.1% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.2% | — | — | 4.1% | 2.4% | 2.3% | 1.5% | 1.9% | 16.7% | 2.6% | 0.2% | 2.1% | 0.7% |
| — | — | — | +119.7% | -85.4% | -12.8% | +574.0% | -10.4% | +2462.3% | +24188.9% | +128.4% | +281.8% | +244.3% | |
| ROA | 5.5% | 0.4% | -0.2% | 0.8% | 1.6% | 1.5% | 1.0% | 1.2% | 10.8% | 1.6% | 0.1% | 1.3% | 0.4% |
| — | -74.1% | -116.4% | -37.6% | -85.1% | -7.2% | +607.4% | -6.8% | +2470.0% | +23074.3% | +127.2% | +273.7% | +237.4% | |
| ROIC | 9.2% | 3.3% | 2.8% | 3.2% | 2.4% | 2.6% | 1.9% | 2.1% | 1.3% | 2.0% | 0.6% | 1.8% | 0.7% |
| — | +28.4% | +45.6% | +57.5% | +79.4% | +30.2% | +218.8% | +17.2% | +87.5% | +193.7% | +71.5% | +377.0% | +158.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
MakeMyTrip Limited's Debt/EBITDA ratio is 35.2x, down from 40.1x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 35.6% YoY to 1.85x, tightening the short-term liquidity position.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.20 | — | — | 22.03 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.26 | 0.27 | 0.26 | 0.27 |
| — | — | — | +11129.0% | -1.3% | -26.1% | -26.9% | -25.7% | -26.0% | -1.6% | +1.8% | +4.8% | +11.1% | |
| Debt / EBITDA | 1.61 | 35.16 | 40.09 | 28.62 | 6.19 | 5.61 | 6.98 | 6.52 | 9.36 | 8.46 | 18.05 | 9.20 | 15.98 |
| — | +526.3% | +474.6% | +339.2% | -33.9% | -33.7% | -61.3% | -29.2% | -41.4% | -47.7% | -14.6% | -53.2% | -25.0% | |
| Current Ratio | 1.85 | 1.85 | 1.91 | 1.15 | 1.85 | 2.88 | 2.82 | 2.78 | 2.88 | 1.53 | 1.48 | 1.51 | 1.48 |
| — | -35.6% | -32.0% | -58.8% | -35.9% | +88.2% | +90.9% | +84.0% | +94.5% | -44.9% | -45.8% | -49.1% | -52.1% | |
| Quick Ratio | 1.85 | 1.85 | 1.91 | 1.15 | 1.85 | 2.88 | 2.81 | 2.77 | 2.88 | 1.53 | 1.48 | 1.51 | 1.48 |
| — | -35.6% | -32.0% | -58.7% | -35.9% | +88.1% | +90.8% | +83.8% | +94.5% | -44.9% | -45.8% | -49.1% | -52.1% | |
| Interest Coverage | 6.78 | 1.18 | 0.80 | 3.75 | 4.18 | 3.03 | 3.36 | 5.03 | — | 3.64 | 0.68 | 3.79 | 1.37 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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MakeMyTrip Limited's current P/E is 60.9x. The average P/E over the last 3 quarters is 163.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
MakeMyTrip Limited's current operating margin is 12.3%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking MakeMyTrip Limited's business trajectory between earnings reports.