Makemytrip Limited Mauritius Financials
Makemytrip Limited Mauritius (MMYT) reported $978.3M in revenue for fiscal year 2025, up 25.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash conversion has become the dominant mechanic, with light reinvestment turning revenue recovery into balance-sheet strength.
FY2025’s net margin of9.7% fell from FY2024’s27.7% , but that mostly reflects a move away from tax-assisted earnings rather than weaker cash generation. Operating cash flow still climbed to$185.3M while net income settled at$95.3M , and with minimal reinvestment most of that cash reached free cash flow.
The balance sheet is becoming more self-funded: cash increased to
Capital intensity is unusually light: only
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Makemytrip Limited Mauritius's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Makemytrip Limited Mauritius, and counted as zero in the overall score.
Makemytrip Limited Mauritius's revenue surged 25.0% year-over-year to $978.3M, reflecting rapid business expansion. This strong growth earns a score of 88/100.
Makemytrip Limited Mauritius carries a low D/E ratio of 0.01, meaning only $0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.
Makemytrip Limited Mauritius's current ratio of 1.85 indicates adequate short-term liquidity, earning a score of 53/100. The company can meet its near-term obligations, though with limited headroom.
Makemytrip Limited Mauritius converts 18.5% of revenue into free cash flow ($180.8M). This strong cash generation earns a score of 78/100.
Not available for Makemytrip Limited Mauritius, and counted as zero in the overall score.
Makemytrip Limited Mauritius passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Makemytrip Limited Mauritius generates $1.94 in operating cash flow ($185.3M OCF vs $95.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Makemytrip Limited Mauritius generated $978.3M in revenue in fiscal year 2025. This represents an increase of 25.0% from the prior year.
Makemytrip Limited Mauritius reported $95.3M in net income in fiscal year 2025. This represents a decrease of 56.0% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Makemytrip Limited Mauritius generated $180.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 50.9% from the prior year.
Makemytrip Limited Mauritius held $508.9M in cash against $10.8M in long-term debt as of fiscal year 2025, with $576.6M of liabilities due within a year.
Not reported for fiscal year 2025.
Margins & Returns
Makemytrip Limited Mauritius's net profit margin was 9.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 18.0 percentage points from the prior year.
Makemytrip Limited Mauritius's ROE was 7.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 11.5 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Makemytrip Limited Mauritius spent $21.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Makemytrip Limited Mauritius invested $4.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 24.2% from the prior year.
Not reported for fiscal year 2025.
MMYT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $978.3M+25.0% | $782.5M+32.0% | $593.0M+95.1% | $303.9M+86.0% | $163.4M-68.0% | $511.5M+5.3% | $486.0M-28.0% | $675.3M+50.9% | $447.6M+33.2% | $336.1M |
| Interest Expense | $1.7M-4.8% | $1.8M+14.7% | $1.6M-1.0% | $1.6M-16.0% | $1.9M-31.6% | $2.7M+156.1% | -$4.9M-478.1% | $1.3M-95.2% | $27.0M+244.0% | -$18.7M |
| Income Tax | $20.6M+116.7% | -$123.8M-12584.9% | -$976K+11.8% | -$1.1M+75.4% | -$4.5M-15441.4% | -$29K+96.1% | -$740K-913.2% | $91K-52.8% | $193K+24.5% | $155K |
| Net Income | $95.3M-56.0% | $216.7M+2040.8% | -$11.2M+75.5% | -$45.6M+18.7% | -$56.0M+87.5% | -$447.5M-166.6% | -$167.9M+23.8% | -$220.2M-99.7% | -$110.3M-24.6% | -$88.5M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EPS (Diluted).
MMYT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.8B+10.1% | $1.7B+22.1% | $1.4B+2.8% | $1.3B+1.0% | $1.3B+20.8% | $1.1B-31.0% | $1.6B-11.1% | $1.8B+14.3% | $1.5B | N/A |
| Current Assets | $1.1B+24.3% | $857.3M+27.6% | $671.9M+13.6% | $591.4M+18.0% | $501.2M+79.6% | $279.0M-36.7% | $440.6M-18.5% | $540.6M+105.4% | $263.2M | N/A |
| Cash & Equivalents | $508.9M+55.6% | $327.1M+15.2% | $284.0M+33.2% | $213.3M-27.7% | $295.1M+127.2% | $129.9M-27.0% | $178.0M-5.1% | $187.6M+84.5% | $101.7M | N/A |
| Inventory | $363K+66.5% | $218K+772.0% | $25K+127.3% | $11K-72.5% | $40K+11.1% | $36K-94.1% | $606K+1.7% | $596K+137.5% | $251K | N/A |
| Accounts Receivable | $141.1M+53.5% | $92.0M+33.6% | $68.8M+91.7% | $35.9M+42.6% | $25.2M-52.9% | $53.4M+0.4% | $53.2M-5.7% | $56.4M+60.6% | $35.1M | N/A |
| Goodwill | $597.8M-2.5% | $613.4M-2.5% | $629.0M+4.6% | $601.2M-3.0% | $619.9M-14.1% | $722.0M-32.5% | $1.1B-6.9% | $1.1B-2.0% | $1.2B+3255.9% | $34.9M |
| Total Liabilities | $620.3M+14.1% | $543.7M+12.4% | $483.8M+13.5% | $426.3M+2.0% | $417.8M+89.1% | $220.9M+3.8% | $212.9M+3.1% | $206.5M+48.2% | $139.3M | N/A |
| Current Liabilities | $576.6M+93.8% | $297.6M-34.4% | $453.7M+137.2% | $191.2M-1.5% | $194.2M+8.0% | $179.9M-12.1% | $204.6M+2.3% | $200.0M+48.8% | $134.4M | N/A |
| Long-Term Debt | $10.8M-16.9% | $13.0M-5.7% | $13.7M+18.4% | $11.6M-14.7% | $13.6M-34.9% | $20.9M | N/A | N/A | N/A | N/A |
| Total Equity | $1.2B+8.2% | $1.1B+27.4% | $876.1M-2.3% | $896.5M+0.6% | $891.2M+3.4% | $862.3M-36.5% | $1.4B-12.9% | $1.6B+10.9% | $1.4B+1711.0% | $77.6M |
| Retained Earnings | -$929.9M+8.9% | -$1.0B+16.9% | -$1.2B-1.1% | -$1.2B-0.9% | -$1.2B-4.9% | -$1.1B-68.3% | -$682.1M-32.2% | -$515.9M-72.8% | -$298.6M | N/A |
MMYT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $185.3M+47.4% | $125.7M+290.3% | $32.2M+419.5% | $6.2M-90.4% | $64.5M+157.2% | -$112.7M-42.8% | -$78.9M+37.1% | -$125.5M-15.7% | -$108.5M-64.3% | -$66.0M |
| Capital Expenditures | $4.5M-24.2% | $5.9M-21.2% | $7.5M+141.7% | $3.1M+382.7% | $642K-81.9% | $3.5M+2.4% | $3.5M-18.8% | $4.3M-51.4% | $8.8M+53.7% | $5.7M |
| Free Cash Flow | $180.8M+50.9% | $119.8M+384.7% | $24.7M+697.0% | $3.1M-95.1% | $63.9M+154.9% | -$116.3M-41.1% | -$82.4M+36.5% | -$129.7M-10.7% | -$117.2M-63.5% | -$71.7M |
| Investing Cash Flow | $26.4M+135.0% | -$75.6M-262.1% | $46.6M+159.9% | -$77.8M+34.5% | -$118.9M-261.0% | $73.8M+5.5% | $70.0M+160.8% | -$115.1M-170.6% | $163.0M+257.3% | -$103.6M |
| Financing Cash Flow | -$22.9M-267.1% | -$6.2M-0.5% | -$6.2M+35.1% | -$9.6M-104.4% | $219.4M+2096.7% | -$11.0M-3180.0% | -$335K-100.1% | $327.9M+15087.5% | $2.2M-98.7% | $164.6M |
| Share Buybacks | $21.7M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $2.0M-81.5% | $11.1M |
Not reported in any period shown, so not listed: Dividends Paid.
MMYT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 9.7%-18.0pp | 27.7%+29.6pp | -1.9%+13.1pp | -15.0%+19.3pp | -34.3%+53.2pp | -87.5%-53.0pp | -34.5%-1.9pp | -32.6%-8.0pp | -24.6%+1.7pp | -26.4% |
| Return on Equity | 7.9%-11.5pp | 19.4%+20.7pp | -1.3%+3.8pp | -5.1%+1.2pp | -6.3%+45.6pp | -51.9%-39.5pp | -12.4%+1.8pp | -14.1%-6.3pp | -7.8%+106.2pp | -114.1% |
| Return on Assets | 5.2%-7.8pp | 13.1%+13.9pp | -0.8%+2.6pp | -3.4%+0.8pp | -4.3%+37.0pp | -41.3%-30.6pp | -10.7%+1.8pp | -12.5%-5.3pp | -7.1% | N/A |
| Current Ratio | 1.85-1.0x | 2.88+1.4x | 1.48-1.6x | 3.09+0.5x | 2.58+1.0x | 1.55-0.6x | 2.15-0.5x | 2.70+0.7x | 1.96 | N/A |
| Debt-to-Equity | 0.010.0x | 0.010.0x | 0.020.0x | 0.010.0x | 0.020.0x | 0.02-0.1x | 0.160.0x | 0.130.0x | 0.10 | N/A |
| FCF Margin | 18.5%+3.2pp | 15.3%+11.1pp | 4.2%+3.1pp | 1.0%-38.1pp | 39.1%+61.8pp | -22.7%-5.8pp | -17.0%+2.3pp | -19.2%+7.0pp | -26.2%-4.9pp | -21.3% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
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Where Makemytrip Limited Mauritius Ranks
Frequently Asked Questions
What is Makemytrip Limited Mauritius's annual revenue?
Makemytrip Limited Mauritius (MMYT) reported $978.3M in total revenue for fiscal year 2025. This represents a 25.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Makemytrip Limited Mauritius's revenue growing?
Makemytrip Limited Mauritius (MMYT) revenue grew by 25.0% year-over-year, from $782.5M to $978.3M in fiscal year 2025.
Is Makemytrip Limited Mauritius profitable?
Yes, Makemytrip Limited Mauritius (MMYT) reported a net income of $95.3M in fiscal year 2025, with a net profit margin of 9.7%.
How much debt does Makemytrip Limited Mauritius have?
As of fiscal year 2025, Makemytrip Limited Mauritius (MMYT) had $508.9M in cash and equivalents against $10.8M in long-term debt.
What is Makemytrip Limited Mauritius's net profit margin?
Makemytrip Limited Mauritius (MMYT) had a net profit margin of 9.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Makemytrip Limited Mauritius's return on equity (ROE)?
Makemytrip Limited Mauritius (MMYT) has a return on equity of 7.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Makemytrip Limited Mauritius's free cash flow?
Makemytrip Limited Mauritius (MMYT) generated $180.8M in free cash flow during fiscal year 2025. This represents a 50.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Makemytrip Limited Mauritius's operating cash flow?
Makemytrip Limited Mauritius (MMYT) generated $185.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Makemytrip Limited Mauritius's total assets?
Makemytrip Limited Mauritius (MMYT) had $1.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Makemytrip Limited Mauritius's capital expenditures?
Makemytrip Limited Mauritius (MMYT) invested $4.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Makemytrip Limited Mauritius's current ratio?
Makemytrip Limited Mauritius (MMYT) had a current ratio of 1.85 as of fiscal year 2025, which is generally considered healthy.
What is Makemytrip Limited Mauritius's debt-to-equity ratio?
Makemytrip Limited Mauritius (MMYT) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Makemytrip Limited Mauritius's return on assets (ROA)?
Makemytrip Limited Mauritius (MMYT) had a return on assets of 5.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Makemytrip Limited Mauritius's Piotroski F-Score?
Makemytrip Limited Mauritius (MMYT) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Makemytrip Limited Mauritius's earnings high quality?
Makemytrip Limited Mauritius (MMYT) has an earnings quality ratio of 1.94x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Makemytrip Limited Mauritius?
Makemytrip Limited Mauritius (MMYT) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.