Yatra Online (YTRA) AI Stock Analysis

• Market Cap: $64.67M
• Dividend Yield: N/A
• Average Volume (3M): 193.26K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.96
• Revenue Growth: 75.67%
• EPS Growth: N/A
• Country: US
• Employees: 1,268
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Travel Services
• EPS (TTM): -0.02
• Shares Outstanding: 60,330,925
• 10 Day Avg. Volume: 441,784
• 30 Day Avg. Volume: 193,257
• PEG Ratio: -1.98
• Price to Book (P/B): 1.36
• Price to Sales (P/S): 0.92
• P/FCF Ratio: -12.54
• Enterprise Value/Market Cap: 256.74
• Enterprise Value/Revenue: 1.60
• Enterprise Value/Gross Profit: 4.42
• Enterprise Value/Ebitda: 31.77
• 1Y Price Target: $3.00
• Price Target Upside: 101.34% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.04
• Revenue Forecast (FY): $115.99M

• Rating: 58 Neutral
• Price Target: $1.00 ▼(-32.89% Downside)
• Action: Reiterated Date: 03/10/26
• Date: Action: Reiterated 03/10/26

The score is driven mainly by improving fundamentals (revenue scale-up, stronger balance sheet, and positive TTM cash generation) and a generally constructive earnings update on growth and margins. These are tempered by weak technicals (bearish trend/momentum) and valuation uncertainty due to negative earnings (negative P/E and no dividend yield provided).

Positive Factors

Revenue Scale-Up

Sustained top-line expansion over multiple years indicates widening market penetration and product adoption across air, hotels and packages. Larger revenue base supports supplier leverage, drives fixed-cost absorption, and creates durable runway to fund technology, corporate sales and margin improvement initiatives.

Improving Margins & Take Rates

Rising take rates and expanding gross margins, especially in air, reflect improving pricing power and mix shift toward higher‑margin corporate and package sales. If sustained, margin expansion offers a structural path to profitability as booking scale grows and the company monetizes SaaS and corporate offerings.

Stronger Balance Sheet & Lower Leverage

A materially improved balance sheet with low leverage enhances resilience to industry shocks and funds strategic investments. Strong equity base and expanded assets give the company financial flexibility to invest in product, absorb working capital swings, and pursue corporate client growth without excessive refinancing risk.

Negative Factors

Persistent Net Losses

Continued net losses, even if smaller, constrain the company’s ability to self-fund growth, pay down capital, or return capital to shareholders. Persistent negative net income also depresses realized ROE and leaves long-term value dependent on sustaining margin improvements and consistent operational leverage gains.

Volatile Cash Generation

Sharp swings in operating and free cash flow reduce predictability for investing in product, sales and corporate programs. Volatility increases financing risk when bookings or MICE events defer, forcing reactive working capital draws and complicating multi-quarter planning for SaaS rollouts and corporate penetration.

Legal/Compliance Funding via Stake Sale

A share sale to cover legal and compliance costs signals recurring regulatory or governance-related cash drains. Diverting proceeds to liabilities rather than growth can limit strategic investments, and ongoing legal exposure may increase operating uncertainty and consume management attention over the medium term.

Yatra Online Business Overview & Revenue Model

Company Description

Yatra Online, Inc. operates as an online travel company in India and internationally. It operates in Air Ticketing, and Hotels and Packages, and Other Services segments. The company provides travel-related services, including domestic and international air ticketing, hotel bookings, homestays, holiday packages, bus ticketing, rail ticketing, cab bookings, and ancillary services for leisure and business travelers. It also offers various services, including exploring and searching comprises web and mobile platforms that enable customers to explore and search flights, hotels, holiday packages, buses, trains, and activities through its website, www.yatra.com. In addition, the company provides its services through mobile applications that comprise Yatra, a mobile interface; Yatra Web Check-In, an application for flight check-in process for travelers; and Yatra Corporate, a self-booking application for business customers. Further, it offers tours, sightseeing, shows, and event services; rail and cab services, and other ancillary travel services; and sells travel vouchers and coupons. As of March 31, 2022, the company served approximately 12.4 million customers. Yatra Online, Inc. was incorporated in 2005 and is based in Gurugram, India.

How the Company Makes Money

Yatra Online generates revenue through multiple channels, primarily from commissions earned on bookings made through its platform. The key revenue streams include flight ticket sales, hotel bookings, and holiday packages, where the company earns a commission from airlines, hotels, and travel service providers. Additionally, Yatra offers ancillary services such as travel insurance and car rentals, contributing further to its revenue. Strategic partnerships with airlines, hotel chains, and travel aggregators enhance its service offerings and create additional revenue opportunities. Furthermore, the company may also generate income through advertising on its platform and by leveraging customer data for targeted marketing campaigns.

Yatra Online Financial Statement Overview

Summary

Financials show a recovery with sharply higher revenue, improved profitability vs prior deep losses, reduced leverage, and positive TTM operating and free cash flow. However, net losses persist and cash flow has been volatile, limiting the score.

Income Statement

Income statement trends are improving but still mixed. Revenue has scaled sharply, reaching 10.37B in TTM (Trailing-Twelve-Months) vs 7.95B in FY2025 and ~1.27B in FY2021, indicating strong top-line momentum. Profitability has improved materially from deep losses in FY2021–FY2022 to a much smaller loss in TTM (net income -129M), with positive EBITDA in recent periods. However, the company is still not consistently profitable at the bottom line (losses persist in TTM and FY2025), and margins have been volatile across years.

Balance Sheet

The balance sheet looks meaningfully stronger than earlier years, with low leverage in the latest period and a large equity base. In TTM (Trailing-Twelve-Months), debt is 916M against equity of 5.19B (low debt-to-equity), a major improvement versus FY2023 when leverage was very high. Total assets have expanded to 13.39B, supporting scale. Key watch-out: returns on equity have been negative in several annual periods, reflecting that profitability has not been consistently strong enough to fully validate the capital base, even though the latest ROE is positive.

Cash Flow

Cash flow has improved notably in the latest period, but consistency remains a concern. TTM (Trailing-Twelve-Months) shows solid positive operating cash flow (705M) and positive free cash flow (708M), a sharp turnaround from FY2025 and FY2024 where both were negative. The main weakness is volatility: operating and free cash flow swung significantly across years, and TTM free cash flow growth is negative (down meaningfully vs the prior period), suggesting recent cash generation may not be steady yet.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	10.37B	7.95B	4.19B	3.83B	1.99B	1.27B
Gross Profit	3.75B	3.92B	3.32B	3.16B	1.83B	1.25B
EBITDA	522.71M	396.00M	107.55M	166.53M	-62.50M	-286.07M
Net Income	-128.63M	-106.92M	-350.94M	-289.24M	-477.85M	-1.18B
Balance Sheet
Total Assets	13.39B	13.21B	12.49B	6.77B	5.46B	5.75B
Cash, Cash Equivalents and Short-Term Investments	2.00B	1.92B	4.41B	1.14B	1.42B	2.34B
Total Debt	916.18M	784.01M	853.93M	2.60B	628.24M	634.02M
Total Liabilities	5.56B	5.30B	4.73B	6.05B	4.57B	4.58B
Stockholders Equity	5.19B	5.40B	5.39B	707.70M	890.26M	1.16B
Cash Flow
Free Cash Flow	979.58M	-586.35M	-19.88M	-2.12B	-1.07B	686.47M
Operating Cash Flow	705.20M	-291.09M	-19.64M	-1.96B	-972.20M	765.44M
Investing Cash Flow	-323.05M	49.03M	64.46M	-145.95M	-86.54M	-230.37M
Financing Cash Flow	-319.01M	-1.03B	-27.86M	1.75B	135.26M	535.28M

Yatra Online Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.49
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For YTRA, the sentiment is Negative. The current price of 1.49 is above the 20-day moving average (MA) of 1.18, above the 50-day MA of 1.45, and above the 200-day MA of 1.39, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 32.19 is Neutral, neither overbought nor oversold. The STOCH value of 10.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for YTRA.

Yatra Online Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RCL	73 Outperform	$75.18B	17.69	45.87%	1.09%	8.61%	49.58%
TCOM	71 Outperform	$34.59B	4.41	20.98%	0.39%	17.34%	91.51%
EXPE	62 Neutral	$29.56B	27.45	114.29%	0.56%	7.29%	36.51%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
YTRA	58 Neutral	$64.67M	-15.80	6.86%	―	75.67%	―
MMYT	53 Neutral	$4.34B	276.78	31.18%	―	14.55%	-68.46%
TRIP	51 Neutral	$1.09B	45.50	6.10%	―	4.24%	159.81%

Yatra Online Corporate Events

Yatra Online Subsidiary Trims Yatra India Stake to Fund Legal and Compliance Costs

On February 17, 2026, THCL Travel Holding Cyprus Limited, a wholly owned subsidiary of Yatra Online, Inc., sold 2,833,000 equity shares of Yatra Online Limited in open market transactions, representing about 1.8% of the Indian unit’s outstanding share capital. After this sale, Yatra Online, Inc. and its subsidiaries continue to hold roughly 62.6% of Yatra India, with the proceeds earmarked to cover legal and compliance expenses for THCL and affiliated group entities, including the parent company, signaling a modest capital-raising move without ceding effective control.

The most recent analyst rating on (YTRA) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Yatra Online stock, see the YTRA Stock Forecast page.

Yatra Online Posts Q3 FY2026 Revenue Growth but Swings to Loss Amid Restructuring Push

On February 11, 2026, Yatra Online reported unaudited results for the quarter ended December 31, 2025, highlighting resilient top-line growth despite disruptions in India’s domestic aviation sector and geopolitical headwinds affecting Middle East routes. Revenue rose 9.6% year-on-year to INR 2,576.9 million, driven by a stronger consumer and affiliate mix, robust air ticketing expansion, and improved hotel and packages profitability.

The company’s corporate travel arm remained a key growth engine, adding 40 new clients and lifting potential annual billings by INR 2,234 million, while the Globe Travels integration delivered supplier and technology synergies and cross-selling gains. However, Yatra swung to a quarterly loss of INR 129.3 million from a profit a year earlier, and adjusted EBITDA fell 17.9% year-on-year, even as gross bookings jumped 20.9%, underscoring a trade-off between growth, restructuring efforts to unlock shareholder value, and near-term earnings pressure.

The most recent analyst rating on (YTRA) stock is a Buy with a $1.50 price target. To see the full list of analyst forecasts on Yatra Online stock, see the YTRA Stock Forecast page.