Yatra Online, Inc. (YTRA) 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

-5119.9%

-$41.01

vs $0.82 price

Levered DCF

-$74.16

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

-0.38

Distress zone

Rating

Overall 2 / 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	-27.96×	-68.7×	-189.8×	-101.79×	-76.85×	-22.61×	-17.6×	-25.45×
P/B	1.27×	1.36×	3.46×	41.53×	18.92×	23.19×	623.2×	23.1×
P/S	0.63×	0.92×	4.45×	7.68×	8.47×	21.12×	2.14×	7.2×
EV / EBITDA	17.27×	19.02×	165.07×	189.09×	-266.73×	-90.1×	102.76×	-40.84×
Gross margin	23.8%	49.2%	79.3%	82.5%	92.0%	98.2%	28.8%	21.1%
Operating margin	-1.7%	-1.1%	-3.8%	2.1%	-21.7%	-115.6%	-8.0%	-25.0%
Net margin	-2.2%	-1.3%	-8.4%	-7.6%	-24.0%	-92.6%	-12.2%	-28.3%
Current ratio	2.23×	2.09×	2.5×	0.95×	1×	1.18×	0.95×	0.89×
Debt / equity	0.19×	0.15×	0.16×	3.68×	0.71×	0.55×	1.02×	0.5×
Interest coverage	-125.14×	-1.18×	-0.71×	0.37×	-4.55×	-12.7×	-2.25×	-10.77×
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	-4.5%	-2.0%	-6.5%	-40.9%	-53.7%	-101.7%	-3542.4%	-90.8%
Return on invested capital	-1.9%	-1.0%	-1.8%	2.4%	-25.8%	-59.3%	-1024.8%	-50.1%
Return on assets	-1.8%	-0.8%	-2.8%	-4.3%	-8.7%	-20.5%	-603.4%	-17.6%
Free cash flow yield	0.0%	-8.0%	-9.1%	-7.2%	-6.4%	2.6%	-5.0%	-8.3%
Earnings yield	-3.5%	-1.5%	-1.9%	-1.0%	-2.8%	-4.4%	-5.7%	-3.9%
Enterprise value	$6.7B	$7.5B	$17.8B	$31.5B	$16.7B	$25.8B	$12.3B	$53.9B
Net debt / EBITDA	0.07×	0.45×	-8.26×	12.61×	2.75×	3.77×	0.02×	0.09×
Cash conversion cycle (days)	79	129	-46	-287	-5,093	-35,954	-0	-334