MakeMyTrip Limited (MMYT) Fair Value 2026

MMYT · Travel Services ·

By CirclFi Research Team · Data from SEC EDGAR, FRED & GDELT

Quality Score

8.4 /10

32 fundamental signals · 10 models active

Value Trap Risk

SAFE (18/100)

Quick Summary — As of 2026-08-28, MakeMyTrip Limited (MMYT) trades at $59.02, versus a $31.45 median fair value across its 10 active models — 46.7% below the current price. QOC: 8.4/10. Value Trap Risk: 18/100 (SAFE). 10/13 models active. Within that set, the Bayesian DCF component alone returns $38.44.

Key Facts

Ticker
MMYT
Price
$59.02
Quality Score
8.4/10
Value Trap Risk
18/100
Models Active
10/13
Last Updated
Strength: Quality Score of 8.4/10 indicates strong fundamentals
Risk: Majority of models suggest overvaluation

Is MakeMyTrip Limited (MMYT) Undervalued or Overvalued in 2026?

According to CirclFi’s 10-model valuation engine, MakeMyTrip Limited (MMYT) appears overvalued as of : the median of 10 independent fair value estimates is $31.45, 46.7% below the current price of $59.02. Estimates range from $6.43 to $63.97. MMYT scores 8.4/10 on fundamental quality and 18/100 on value-trap risk.

For context, the median US equity CirclFi rates trades at an implied -23.4% versus its own 13-model consensus, across 3,809 rated companies as of 2026-08-28. MMYT’s -46.7% gap is wider than that market norm, and the Travel Services sector median is -4.6%. Full market index →

This verdict compares price to intrinsic value only — it is not a buy or sell rating. For the decision case (bull vs bear arguments, risk factors, peers), read Should You Buy MakeMyTrip Limited Stock in 2026? →

What Fair Value Does Each Model Give MMYT?

10 Intrinsic Value Models vs. Current Price ($59.02)

Core Models (Unlocked)
Model Fair Value Upside
Intrinsic · High Conviction
 $38.44 -34.9%
Ensemble · Low Conviction
 $31.19 -47.2%
Scenario · Medium Conviction
 $39.70 -32.7%
Intrinsic · Medium Conviction
 $44.51 -24.6%
Unlock the Full Matrix

Access 6 additional models including EROIC Spread, Dynamic NAV, and more.

$1.30 / day

Billed monthly ($39/mo) or annually ($299/yr)

Unlock All 10 Models →

Cancel anytime · No contracts · Instant access

What Is MMYT's Fair Value Range?

Spread across 10 independent models · $6.43 to $63.97

CirclFi's 10 active models place MakeMyTrip Limited (MMYT) between $6.43 and $63.97 per share, a spread of 183% of the median. The median of that range — $31.45 — is the fair value CirclFi publishes for MMYT, against a current price of $59.02.

Low · Dynamic NAVHigh · Regime Cross
$6.43median $31.45$63.97
Where the range comes from
Most bearish modelDynamic NAV$6.43
Most bullish modelRegime Cross-Sectional$63.97
Model agreement1 bullish · 9 bearishwide

A band this wide is itself the finding. When independent methods land far apart, they are reading a business whose value depends heavily on which lens you apply — volatile earnings, heavy reinvestment, or an asset base that cash-flow and asset-based methods score differently. That disagreement is information: it says the choice of method matters more than usual for MMYT. Treat the median as one reading among several and compare the individual models below before acting.

Every figure above is one model's standalone output on MMYT, not a CirclFi price target. How each model works →

What Is MakeMyTrip Limited (MMYT) Worth in 2026?

According to the CirclFi Deep Alpha Valuation Engine, MakeMyTrip Limited's intrinsic value is estimated at $31.45, suggesting the stock is overvalued at its current price of $59.02. With 9 out of 10 models flagging downside (-46.7% vs price), the market may be pricing in unsustainable growth. The most optimistic model, Regime Cross, places fair value at $63.97 (+8.4%), while Dynamic NAV — the most conservative — estimates $6.43 (-89.1%). This +97.5% gap reflects genuine analytical uncertainty about MakeMyTrip Limited's intrinsic worth.

What Do the Models Say About MMYT?

10 of 13 models are currently active for MMYT. Of these, 1 model suggests upside while 9 models suggest overvaluation. Taken together, their median fair value for MMYT is $31.45 — the figure CirclFi publishes as this stock's fair value. One component of that median, the Bayesian DCF, returns $38.44 on its own, implying -34.9% downside from the current price. See which stocks rank higher →

How Does MMYT Rank in Travel Services?

Among 19 Travel Services stocks, MMYT ranks #5 by Quality of Company score. CirclFi's QOC score of 8.4/10 evaluates 32 fundamental signals. A score of 8.4 places MMYT in the top tier.

MakeMyTrip Limited operates in a competitive landscape where fundamental quality metrics are key differentiators for long-term value creation.

Is MMYT a Value Trap?

CirclFi's Value Trap algorithm assigns MMYT a score of 18/100 (SAFE). This indicates minimal risk. Fundamentals are healthy. The score cross-references apparent undervaluation against fundamental deterioration signals. Browse lowest value-trap stocks →

Multi-Model Methodology

10 of 13 models are active for MakeMyTrip Limited. Broad coverage provides high confidence. Each model applies a fundamentally different valuation philosophy. See the complete methodology →

According to the CirclFi 32-factor quality framework, MakeMyTrip Limited's fundamental quality profile registers 8.4/10. This robust score captures the company's profitability depth, growth consistency, balance sheet resilience, and shareholder return track record.

The gap between the most bullish and bearish model spans +97.5% — demonstrating why single-model analysis is dangerous. Browse all stocks with 13-model coverage →

Data Sources & Confidence

Every MMYT valuation is built from SEC EDGAR XBRL filings — 700+ standardized financial tags. Macroeconomic context from FRED calibrates discount rates, while GDELT news sentiment feeds into our Sentiment SOTP model. All pipelines run daily. Read the complete data methodology →

Across MMYT's 10 active models, average confidence is 37%. Lower confidence may reflect limited history or high volatility.

CirclFi's output is a research starting point, not a buy/sell signal. All data updates daily. Read the full methodology →

This analysis is produced by the CirclFi Valuation Engine using quantitative models applied to SEC EDGAR filings, public market feeds, and FRED macroeconomic indicators. It is not financial advice.

Read the full investment analysis: Should You Buy MakeMyTrip Limited Stock in 2026? →

Bull case, bear case, risk factors & peer comparison — updated daily

Which Similar Travel Services Stocks Should You Also Analyze?

10 related Travel Services stocks with 13-model coverage

TCOMTrip.com Group LimitedQOC 8.8CCLCarnival Corporation Ltd.QOC 8.2BKNGBooking Holdings Inc.QOC 9.0RCLRoyal Caribbean Cruises Ltd.QOC 8.2EXPEExpedia Group, Inc.QOC 9.0PRSUPursuit Attractions and Hospitality, Inc.QOC 8.1TRIPTripadvisor, Inc.QOC 8.0NCLHNorwegian Cruise Line Holdings Ltd.QOC 7.3VIKViking Holdings LtdQOC 2.8ABNBAirbnb, Inc.QOC 9.5

Read investment analysis: TCOM · CCL · BKNG · RCL · EXPE · PRSU · TRIP · NCLH · VIK · ABNB

Which Other Stocks Have a Similar Quality Score to MMYT?

7 companies across all industries closest to MMYT’s Quality of Company score of 8.4/10.

NATHNathan's Famous, Inc.QOC 8.4FIVNFive9, Inc.QOC 8.4CCJCameco CorporationQOC 8.4AMGNAmgen Inc.QOC 8.4GWREGuidewire Software, Inc.QOC 8.4VABKVirginia National Bankshares CorporationQOC 8.4NVDANVIDIA CorporationQOC 10.0

Read investment analysis: NATH · FIVN · CCJ · AMGN · GWRE · VABK · NVDA

What Else Do Investors Ask About MakeMyTrip Limited’s Valuation?

What is MakeMyTrip Limited's intrinsic value in 2026?

CirclFi puts MakeMyTrip Limited (MMYT)'s intrinsic value at $31.45 — the median of 10 independent model estimates as of 2026-08-28, ranging from $6.43 to $63.97. One component of that median, the Bayesian DCF, runs 10,000 Monte Carlo simulations with jump-diffusion and returns $38.44 on its own. The Quality of Company score is 8.4/10 across 32 fundamental signals. All models use SEC EDGAR filings updated daily. See our methodology page for how each model works.

Is MMYT overvalued or undervalued right now?

At $59.02, 1 of 10 active models suggest MMYT may be undervalued, while 9 indicate potential overvaluation. The median of all 10 fair value estimates is $31.45, 46.7% below the current price of $59.02 — a consensus view that MMYT is overvalued. The assessment depends on which methodology best fits MakeMyTrip Limited's business model in Travel Services.

What does a Quality of Company score of 8.4 mean for MMYT?

MakeMyTrip Limited's QOC of 8.4/10 reflects 32 fundamental signals: profitability margins, revenue growth consistency, balance sheet leverage, free cash flow generation, and capital allocation efficiency. Scores above 7 indicate strong fundamentals and disciplined management.

How many valuation models does CirclFi run on MMYT?

CirclFi analyzes MMYT with 13 institutional-grade models daily: Bayesian DCF (Monte Carlo + jump-diffusion), EPV (Greenwald zero-growth), EROIC Spread (McKinsey reinvestment), First Chicago (3-scenario), Markov DDM (regime-switching), ML-RIV (machine learning residual income), Dynamic NAV (asset-based), PWERM (option-theoretic), Regime Cross-Sectional (relative), Sentiment SOTP (hybrid), CUCE Ensemble (meta-model), FTNN Topology (neural network), and RCMH-DCF (conditional regime). Currently 10 of 13 are active for this stock. Read the full methodology →

Which valuation models are most bullish and most bearish on MMYT?

Of the 10 models currently active on MMYT, Regime Cross-Sectional is the most bullish at $63.97 per share, and Dynamic NAV is the most bearish at $6.43. CirclFi's published fair value for MMYT is the median of that range, $31.45, not either extreme. The gap between the two ends equals 183% of the median — a wide spread, meaning the methods genuinely disagree and the median should carry less weight. Browse stocks by value-trap risk →

Is MMYT a value trap in 2026?

MakeMyTrip Limited's Value Trap score is 18/100 (SAFE). This low score indicates the current valuation is not artificially depressed by fundamental deterioration, suggesting genuine opportunity rather than a trap.

Cite this analysis — “According to CirclFi’s 10-model valuation engine, MakeMyTrip Limited (MMYT) has a median fair value of $31.45 — 46.7% below the current price of $59.02 — as of 2026-08-28.” Source: circlfi.com/stock/MMYT/ · Methodology
Primary sources for this MMYT valuation
  • Financial statements: MakeMyTrip Limited 10-K and 10-Q filings on SEC EDGAR (CIK 0001495153) — 700+ standardized XBRL tags, published by the U.S. Securities and Exchange Commission.
  • Discount-rate inputs: FRED, Federal Reserve Bank of St. Louis — risk-free rates, VIX, yield curve, inflation.
  • News sentiment: The GDELT Project — global media tone, input to the Sentiment SOTP model.
  • Model definitions: CirclFi methodology — the published specification for all 13 models, including the academic sources each one implements.

Market data for MMYT as of ; valuations recomputed .

You’ve done the research. Don’t stop at half the picture.

Stop collecting opinions. Let 10 mathematical frameworks give you clarity on MMYT.

Unlock All 10 Fair Values — $39/mo

Cancel anytime · Less than a cup of coffee · Instant access

6 models hidden for MMYT Unlock All 10 — $39/mo