Thomas Cook (India) Limited (THOMASCOOK) AI Stock Analysis

• Market Cap: ₹57.74B
• Dividend Yield: 0.32%
• Average Volume (3M): 183.74K
• Price to Earnings (P/E): 22.6
• Beta (1Y): 1.47
• Revenue Growth: 11.02%
• EPS Growth: -9.59%
• Country: IN
• Employees: 9,097
• Sector: Services
• Sector Strength: N/A
• Industry: Travel Services
• EPS (TTM): 1.10
• Shares Outstanding: 470,380,550
• 10 Day Avg. Volume: 480,741
• 30 Day Avg. Volume: 183,743
• PEG Ratio: -12.65
• Price to Book (P/B): 2.81
• Price to Sales (P/S): 0.78
• P/FCF Ratio: 10.59
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: ₹131.00 ▼(-7.97% Downside)

Thomas Cook (India) Limited's overall stock score is driven primarily by its solid financial performance, with strong revenue growth and stable cash flow. However, technical indicators suggest a neutral to slightly bearish trend, and the high P/E ratio indicates potential overvaluation. The lack of earnings call data and notable corporate events limits further insights.

Positive Factors

Revenue Growth

An 11.3% year-on-year revenue increase indicates sustained top-line recovery and improving market traction across leisure and corporate segments. Durable revenue growth supports scale economics, stronger supplier negotiating power and funds reinvestment in distribution and product expansion over multiple quarters.

Cash Generation

Robust free cash flow and strong operating cash conversion demonstrate durable cash generation capacity. This underpins debt servicing, working capital through seasonal cycles, and funding for strategic initiatives without heavy reliance on external financing, enhancing financial resilience.

Conservative Leverage

Low debt-to-equity and a solid equity ratio reflect conservative capital structure and lower refinancing risk. This balance-sheet flexibility allows counter-cyclical investment, supports longer-term strategic moves, and provides a buffer during demand downturns, strengthening financial durability.

Negative Factors

Low Net Profit Margin

A net margin near 3.1% offers limited cushion against rising supplier costs, FX swings or higher operating expenses. Persistently thin profitability constrains internal funding for growth, reduces ability to absorb shocks, and limits long-term returns to shareholders if not expanded.

Declining EPS

Negative EPS growth despite revenue gains signals pressure on per-share profitability, which may reflect margin compression, rising costs, or mix deterioration. Continued EPS declines can limit reinvestment capacity, weaken ROE improvements, and impede sustained shareholder value creation.

Demand Sensitivity / Seasonality

Revenue and fees are structurally tied to travel volumes and seasonal patterns, making results cyclical and vulnerable to macro downturns, travel restrictions or consumer confidence shifts. This demand sensitivity complicates forecasting and can cause material swings in medium-term earnings.

Thomas Cook (India) Limited Business Overview & Revenue Model

Company Description

Thomas Cook (India) Limited provides integrated travel and travel-related financial services in India and internationally. The company operates through four segments: Financial Services, Travel and Related Services, Vacation Ownership and Resorts Business, and Digiphoto Imaging Services. The Financial Services segment engages in the wholesale, and retail purchase and sale of foreign currencies and paid documents. The Travel and Related Services segment is involved in tour operations, travel management, visa services, and travel insurance and related activities. The Vacation Ownership and Resorts Business segment engages in the time share holidays' business. The Digiphoto Imaging Services segment offers turnkey imaging solutions and related services. The company was founded in 1881 and is headquartered in Mumbai, India. Thomas Cook (India) Limited operates as a subsidiary of Fairbridge Capital (Mauritius) Limited.

How the Company Makes Money

Thomas Cook (India) Limited generates revenue through multiple streams, primarily by offering holiday packages, which include flights, accommodations, and local tours, thereby earning commission from service providers. Additionally, the company profits from foreign exchange services by providing currency exchange and related financial products, capitalizing on exchange rate margins. The travel insurance segment contributes significantly to revenue by selling insurance policies to travelers. Corporate travel solutions also serve as a key revenue driver, providing businesses with travel management services. Furthermore, strategic partnerships with airlines, hotels, and other travel-related entities enhance revenue opportunities through bundled services and negotiated rates.

Thomas Cook (India) Limited Financial Statement Overview

Summary

Thomas Cook (India) Limited shows a positive financial trajectory with strong revenue growth and improving profitability metrics. The balance sheet reflects a stable financial structure with manageable leverage. Cash flow generation is solid, supporting ongoing operations and strategic growth initiatives. Continued focus on improving net margins and ROE will enhance the company's financial standing.

Income Statement

Thomas Cook (India) Limited has demonstrated a strong recovery in its financial performance, with a notable revenue growth rate of 11.31% from 2024 to 2025. The company has significantly improved its EBIT and EBITDA margins, indicating enhanced operational efficiency. However, the net profit margin is modest at 3.12%, suggesting room for improvement in profitability.

Balance Sheet

The company maintains a healthy equity position with an equity ratio of 31.75% and a reasonable debt-to-equity ratio of 0.21, indicating financial stability. The return on equity is relatively low at 11.25%, yet reflects an upward trend. There is potential for enhancing shareholder returns through strategic financial management.

Cash Flow

Thomas Cook's cash flow situation is robust, with a strong free cash flow of 6,002.5 million and a high operating cash flow to net income ratio. The free cash flow growth rate is negative due to fluctuations in capital expenditure, but the overall cash flow health supports future investments and debt servicing.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	84.42B	81.40B	73.13B	50.48B	18.87B	7.94B
Gross Profit	13.40B	11.21B	9.76B	5.19B	6.94B	-2.13B
EBITDA	5.71B	6.15B	5.17B	2.39B	-1.33B	-2.06B
Net Income	2.51B	2.54B	2.59B	64.60M	-2.29B	-2.54B
Balance Sheet
Total Assets	0.00	71.16B	64.17B	56.84B	46.43B	47.64B
Cash, Cash Equivalents and Short-Term Investments	11.17B	11.17B	14.49B	11.45B	5.84B	8.72B
Total Debt	0.00	4.65B	4.18B	5.39B	5.98B	6.12B
Total Liabilities	-22.37B	48.79B	43.84B	40.09B	29.88B	28.48B
Stockholders Equity	22.37B	22.60B	20.57B	17.13B	16.95B	19.29B
Cash Flow
Free Cash Flow	0.00	6.00B	7.25B	4.06B	-2.01B	-5.97B
Operating Cash Flow	0.00	7.17B	8.29B	4.73B	-1.39B	-5.81B
Investing Cash Flow	0.00	-3.29B	-4.39B	-111.56M	-1.25B	3.53B
Financing Cash Flow	0.00	-1.83B	-2.91B	-2.30B	-847.51M	3.35B

Thomas Cook (India) Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 142.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:THOMASCOOK, the sentiment is Negative. The current price of 142.35 is above the 20-day moving average (MA) of 133.04, above the 50-day MA of 140.26, and below the 200-day MA of 155.92, indicating a bearish trend. The MACD of -5.40 indicates Positive momentum. The RSI at 33.14 is Neutral, neither overbought nor oversold. The STOCH value of 31.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:THOMASCOOK.

Thomas Cook (India) Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TAJGVK	72 Outperform	₹23.13B	15.99	―	0.48%	9.49%	40.16%
YATRA	69 Neutral	₹23.13B	41.67	―	―	82.79%	208.75%
EASEMYTRIP	66 Neutral	₹22.84B	120.77	―	―	-16.06%	-79.12%
THOMASCOOK	63 Neutral	₹57.74B	22.62	―	0.32%	11.02%	-9.59%
MHRIL	57 Neutral	₹59.81B	59.08	―	―	4.25%	17.51%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
ITDC	53 Neutral	₹45.35B	62.78	―	0.50%	6.56%	4.21%

Thomas Cook (India) Limited Corporate Events

Thomas Cook India’s Nature Trails Debuts Fifth Resort in Rishikesh to Tap Experiential Travel Boom

Thomas Cook India’s experiential hospitality brand Nature Trails has expanded its resort portfolio with the launch of Nature Trails Rishikesh in Uttarakhand, its fifth property after locations in Maharashtra and Goa. The new 29-room resort, set on four acres between Rishikesh and Haridwar near Rajaji National Park, is positioned to capture rising demand for domestic experiential travel by offering a mix of spiritual tourism, adventure activities such as safaris and rafting, and local Garhwali cuisine. With strong connectivity to major hubs like Delhi, Haridwar and Dehradun, the property targets families, couples, spiritual travelers, corporate off-sites and group retreats, and forms part of Thomas Cook India’s aggressive expansion strategy for Nature Trails following last year’s acquisition, underscoring the company’s push to capitalize on India’s growing domestic tourism market.

Thomas Cook India’s Nature Trails Enters Goa With Fourth Experiential Resort

Thomas Cook India’s Nature Trails brand has expanded beyond Maharashtra with the launch of its fourth property, Nature Trails Rock Valley at Ponda, Goa, marking its entry into the state’s high-potential experiential tourism market. The 15-acre resort, set in a valley at the foothills of the Western Ghats, offers nature-facing rooms, infinity pools, an extensive adventure zone with activities such as zip lining, rope courses, kayaking and ATV rides, as well as a spice farm and curated learning programs for schools and colleges, positioning it for families, groups and corporate offsites. With convenient access from Goa’s airport, railhead and beaches, all-inclusive dining and conference facilities for up to 120 guests, the property is designed to tap multiple traveler segments, reinforcing Thomas Cook India’s strategy to capture booming domestic demand for nature, activity and adventure-based stays and to build out its Nature Trails portfolio across more destinations in India.

Thomas Cook (India) Limited Faces GST Demand, Plans Appeal

Thomas Cook (India) Limited has received orders from regulatory authorities regarding a demand for short payment of GST, including interest and penalties. The company plans to appeal the order, asserting a strong case on merits, and states that there is no significant financial or operational impact expected from this development.

Thomas Cook India Expands Forex Network with Varanasi Outlet

Thomas Cook (India) Limited has expanded its foreign exchange distribution network by inaugurating its first outlet in Varanasi, increasing its presence to five outlets in Uttar Pradesh. This strategic move aims to capitalize on the growing forex demand in the region, particularly from the influx of foreign tourists and the local student population. The new outlet offers a comprehensive range of forex services, including currency exchange, prepaid travel cards, and digital services, enhancing consumer access and strengthening the company’s market position.

Thomas Cook (India) Schedules Investor Meeting in Mumbai

Thomas Cook (India) Limited has announced a scheduled meeting with investors and analysts on December 8, 2025, in Mumbai. The meeting aims to facilitate discussions based on publicly available information, ensuring no unpublished price sensitive information is shared. This engagement is part of the company’s compliance with SEBI regulations and reflects its commitment to transparency and investor relations.