NasdaqGS:MMYTHospitality
MakeMyTrip (NasdaqGS:MMYT) Stock Rich Valuation Meets Thin Profit Margins
MakeMyTrip stock edged up 2.6% to US$53.72 after earnings, a modest move for a company priced on big growth expectations and a trailing P/E near 97x. The headline this quarter is not the share price pop. It is the strain between rich valuation, a thinner net profit margin of 5% over the last year and weak interest coverage.
Investors are being asked to pay well above an estimated cash flow value for MakeMyTrip while accepting a business that currently converts far less of its large booking...