Yatra Online Limited (YATRA.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-1431.6%

-₹967.79

vs ₹72.68 price

Levered DCF

-₹3,052.31

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	30.33×	38.02×	-445.76×	277.35×	-49.24×	-17.95×	-30.54×	-10.04×
P/B	1.71×	1.78×	2.68×	12.58×	15.06×	17.27×	10.04×	9.11×
P/S	1.41×	1.76×	4.75×	6.12×	7.67×	17×	3.17×	2.52×
EV / EBITDA	13.99×	18.55×	48.01×	42.03×	-115.34×	-41.56×	252.39×	-16×
Gross margin	27.2%	26.3%	23.5%	33.3%	41.3%	-3.0%	37.9%	28.7%
Operating margin	3.9%	1.7%	-0.6%	5.3%	35.0%	-58.8%	-9.6%	-25.0%
Net margin	4.7%	4.6%	-1.1%	2.2%	-15.5%	-94.7%	-10.4%	-25.2%
Current ratio	2.08×	1.93×	2.33×	1.09×	0.94×	1.1×	0.96×	0.89×
Debt / equity	0.12×	0.1×	0.11×	1.05×	0.62×	0.5×	0.71×	0.5×
Interest coverage	3.12×	1.32×	-0.12×	0.79×	13.72×	-7.2×	-3.59×	-13.01×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.6%	4.7%	-0.6%	4.5%	-30.5%	-96.3%	-32.9%	-90.8%
Return on invested capital	3.9%	1.5%	-0.3%	3.3%	38.7%	-29.1%	-16.3%	-56.5%
Return on assets	3.5%	2.8%	-0.4%	1.1%	-5.6%	-21.1%	-8.0%	-17.6%
Free cash flow yield	5.3%	-6.0%	-8.4%	-7.9%	-6.1%	4.5%	-2.1%	-21.2%
Earnings yield	3.3%	2.6%	-0.2%	0.4%	-2.0%	-5.6%	-3.3%	-10.0%
Enterprise value	₹14.3B	₹14.1B	₹19.5B	₹22.6B	₹15.1B	₹20.5B	₹21.5B	₹21.1B
Net debt / EBITDA	0.11×	0.3×	-1.35×	2.44×	0.66×	1.71×	2.48×	0.15×
Cash conversion cycle (days)	88	111	186	111	-232	30	7	-26