MakeMyTrip (MMYT) Net Margin (2009 - 2026)
MakeMyTrip (MMYT) recorded quarterly Net Margin of 9.69% in Q1 2026, up 295.56% quarter-over-quarter from 2.45% in Q4 2025, and down 279.0% on a YoY basis from 5.42% in Q1 2025.
MakeMyTrip (MMYT) Net Margin (2009 - 2026) Analysis & Trends
MakeMyTrip's Net Margin history runs 18 years deep, the most recent figure standing at 9.69% for Q1 2026.
- In Q1 2026, Net Margin fell 279.0% year-over-year to 9.69%; the TTM figure through Mar 2026 stood at 1.84% (down 803.0% YoY), while the FY2026 annual figure was 4.96%, down 476.0% from the prior year.
- Net Margin was 9.69% for Q1 2026 at MakeMyTrip, up from 2.45% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 84.78% in Q1 2024 to a low of 24.49% in Q2 2022.
- Historically, Net Margin has averaged 5.17% across 5 years, with a median of 8.26% in 2024.
- The sharpest annual moves came in 2024 and 2025: Net Margin jumped 7903 bps in 2024, then sank 7229 bps in 2025.
- A 5-year view of Net Margin shows it stood at 4.6% in 2022, then jumped by 348 bps to 11.4% in 2023, then retreated by 11 bps to 10.11% in 2024, then plunged by 76 bps to 2.45% in 2025, then jumped by 296 bps to 9.69% in 2026.
- The last three Net Margin figures came in at 9.69% (Q1 2026), 2.45% (Q4 2025), and 16.67% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 131.01 Bn | 114.99 Bn | 3.46 Bn | 19.58% |
| 2 | Airbnb | 79.86 Bn | 67.85 Bn | 2.10 Bn | 5.97% |
| 3 | Royal Caribbean Cruises | 75.60 Bn | 75.08 Bn | 2.21 Bn | 21.34% |
| 4 | Carnival | 37.80 Bn | 36.39 Bn | - | 4.27% |
| 5 | Expedia | 27.88 Bn | 22.09 Bn | 3.05 Bn | -0.35% |
| 6 | Norwegian Cruise Line Holdings | 8.56 Bn | 8.38 Bn | 953.34 Mn | 4.49% |
| 7 | Global Business Travel | 4.79 Bn | 4.35 Bn | 714.00 Mn | 6.19% |
| 8 | Travel & Leisure | 4.51 Bn | 4.25 Bn | 926.00 Mn | 8.22% |
| 9 | Trip.com | 4.42 Bn | -788.25 Mn | 1.74 Bn | 12.06% |
| 10 | MakeMyTrip | 2.12 Bn | 1.35 Bn | - | 9.69% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 9.69% |
| Dec 31, 2025 | 2.45% |
| Sep 30, 2025 | -16.67% |
| Jun 30, 2025 | 9.64% |
| Mar 31, 2025 | 12.49% |
| Dec 31, 2024 | 10.11% |
| Sep 30, 2024 | 8.46% |
| Jun 30, 2024 | 8.26% |
| Mar 31, 2024 | 84.78% |
| Dec 31, 2023 | 11.40% |
| Sep 30, 2023 | -3.90% |
| Jun 30, 2023 | 9.66% |
| Mar 31, 2023 | 5.75% |
| Dec 31, 2022 | -4.60% |
| Sep 30, 2022 | -18.99% |
| Jun 30, 2022 | -24.49% |
| Mar 31, 2022 | -16.16% |
| Dec 31, 2021 | -8.98% |
| Sep 30, 2021 | -11.85% |
| Jun 30, 2021 | -73.94% |