MakeMyTrip (MMYT) Operating Margin (2009 - 2026)
MakeMyTrip (MMYT) posted quarterly Operating Margin of 16.11% for Q1 2026, up 338.0% year-over-year from 3.68% in Q1 2025, and up 16.48% quarter-over-quarter from 13.83% in Q4 2025.
MakeMyTrip (MMYT) Operating Margin (2009 - 2026) Analysis & Trends
MakeMyTrip's Operating Margin history runs 18 years deep, the most recent figure standing at 16.11% for Q1 2026.
- In Q1 2026, Operating Margin rose 338.0% year-over-year to 16.11%; the TTM figure through Mar 2026 stood at 14.94% (up 269.0% YoY), while the FY2026 annual figure was 14.94%, up 269.0% from the prior year.
- Operating Margin for Q1 2026 stood at 16.11%, up from 13.83% in the prior quarter.
- The five-year high for Operating Margin was 16.11% in Q1 2026, with the low at 2.97% in Q3 2022.
- The 5-year median for Operating Margin is 10.57% (2023), against an average of 9.47%.
- The sharpest annual moves came in 2022 and 2025: Operating Margin jumped 10833 bps in 2022, then surged 85 bps in 2025.
- MakeMyTrip's Operating Margin stood at 4.38% in 2022, then surged by 141 bps to 10.57% in 2023, then grew by 23 bps to 12.97% in 2024, then grew by 7 bps to 13.83% in 2025, then increased by 16 bps to 16.11% in 2026.
- Business Quant data shows MMYT's Operating Margin at 16.11% in Q1 2026, 13.83% in Q4 2025, and 15.02% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 159.34 Bn | 142.12 Bn | 4.98 Bn | 34.00% |
| 2 | Airbnb | 108.60 Bn | 96.53 Bn | 2.98 Bn | 21.01% |
| 3 | Royal Caribbean Cruises | 81.57 Bn | 80.88 Bn | 2.29 Bn | 27.05% |
| 4 | Viking Holdings | 44.18 Bn | 40.38 Bn | 713.43 Mn | 20.91% |
| 5 | Carnival | 38.51 Bn | 36.29 Bn | - | 12.77% |
| 6 | Expedia | 38.08 Bn | 30.96 Bn | 3.91 Bn | 18.54% |
| 7 | Trip.com | 29.19 Bn | 17.73 Bn | 1.86 Bn | 24.34% |
| 8 | Norwegian Cruise Line Holdings | 8.73 Bn | 8.51 Bn | 1.05 Bn | 13.76% |
| 9 | MakeMyTrip | 5.85 Bn | 5.09 Bn | 212.91 Mn | 15.30% |
| 10 | Global Business Travel | 4.94 Bn | 4.47 Bn | 514.00 Mn | 2.76% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 15.30% |
| Mar 31, 2026 | 16.11% |
| Dec 31, 2025 | 13.83% |
| Sep 30, 2025 | 15.02% |
| Jun 30, 2025 | 15.01% |
| Mar 31, 2025 | 12.72% |
| Dec 31, 2024 | 12.97% |
| Sep 30, 2024 | 12.38% |
| Jun 30, 2024 | 10.95% |
| Mar 31, 2024 | 8.24% |
| Dec 31, 2023 | 10.57% |
| Sep 30, 2023 | 3.98% |
| Jun 30, 2023 | 9.72% |
| Mar 31, 2023 | 5.37% |
| Dec 31, 2022 | 4.38% |
| Sep 30, 2022 | 2.97% |
| Jun 30, 2022 | 2.99% |
| Mar 31, 2022 | 3.78% |
| Dec 31, 2021 | -5.40% |
| Sep 30, 2021 | -11.84% |