Yatra Online Inc (YTRA)
NASDAQ:YTRA
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Yatra Online
(NASDAQ:YTRA)
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Rating:58Neutral
Price Target:
$1.00
▼(-32.89% Downside)
Action:ReiteratedDate: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.
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.
Read all positive and negative factors
Positive Factors
Negative 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.
Read all positive factors
Yatra Online (YTRA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$67.16M
Dividend YieldN/A
Average Volume (3M)193.26K
Price to Earnings (P/E)―
Beta (1Y)0.93
Revenue Growth75.67%
EPS GrowthN/A
CountryUS
Employees1,268
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Services
Share Statistics
EPS (TTM)-0.02
Shares Outstanding60,330,925
10 Day Avg. Volume441,784
30 Day Avg. Volume193,257
Financial Highlights & Ratios
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 Cap238.24
Enterprise Value/Revenue1.54
Enterprise Value/Gross Profit4.26
Enterprise Value/Ebitda30.61
Forecast
1Y Price Target
$3.00Price Target Upside101.34% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.13
Revenue Forecast (FY)$123.72M
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 internat...
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...
Yatra Online Earnings Call Summary
Earnings Call Date:Feb 11, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:May 29, 2026
Earnings Call Sentiment Positive
The call highlights robust operational momentum—double-digit growth in bookings across air and hotels, strong margin expansion (gross margins up to 10.2%), meaningful corporate client additions (40 new clients adding INR 2.2B potential revenue), and early SaaS traction with 8 customers on the expense management product. These positives were partially offset by a one-off industry airline disruption in December that deferred MICE bookings, increased working capital needs, and caused temporary revenue timing impacts. Liquidity remains adequate and management expects the disruption to be non-structural, with strategies in place to accelerate corporate penetration and product-led upsell.Positive Updates
Consolidated Revenue Growth
Revenue from operations grew 10% year-on-year to INR 2,577 million (~$29M) for Q3 FY2026, driven by strength across key segments, notably air ticketing and hotels.
Negative Updates
Airline Operational Disruptions and Cancellations
Industry-wide airline schedule disruptions (notably IndiGo in early December) caused widespread cancellations and operational challenges, producing a one-time adverse impact on December results and leading to deferred travel and bookings.
Read all updates
Q3-2026 Updates
Positive
Negative
Consolidated Revenue Growth
Revenue from operations grew 10% year-on-year to INR 2,577 million (~$29M) for Q3 FY2026, driven by strength across key segments, notably air ticketing and hotels.
Read all positive updates
Company Guidance
Guidance from the call was constructive and metric-driven: management expects continued margin expansion and improved profitability over the long term, with Q3 FY26 results showing revenue from operations up 10% YoY to INR 2,577m (~$29m), Air gross bookings +22% YoY to INR 16,931m (~$188m) with passenger volume ~1,491,000 (+13% YoY) and take rates/margin% improving from 6.2% to 7.1% (Air adjusted margins +40% YoY to INR 1,195m/~$13m); Hotels & Packages room nights +22% to 508,000, gross bookings +20% to INR 4,306m (~$47m) and adjusted margins +15% YoY to INR 502m (~$6m) (gross take rates 12.2% → 11.7%); B2B:B2C mix ~60:40 (9‑month avg 65:35); cash + term deposits INR 2,042m (~$23m) and gross debt INR 583m (vs INR 546m Mar‑25). They expect deferred MICE bookings to largely roll into Q4 (with some into Q1 FY27), see strong corporate momentum (40 new corporate clients adding INR 2.2bn annual billing, 8 customers on expense management, online penetration ~23%), and view policy tailwinds (TCS on overseas packages to a uniform 2%) and AI-enabled product investments as drivers of growth over the next 3–4 quarters.Yatra Online Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
74
Positive
Cash Flow
58
Neutral
| 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
Neutral
1.49
Price Trends
1.22
Negative
1.47
Negative
1.40
Negative
Market Momentum
-0.04
Negative
47.43
Neutral
35.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For YTRA, the sentiment is Neutral. The current price of 1.49 is above the 20-day moving average (MA) of 1.05, above the 50-day MA of 1.22, and above the 200-day MA of 1.40, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 47.43 is Neutral, neither overbought nor oversold. The STOCH value of 35.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for YTRA.
Yatra Online Risk Analysis
Yatra Online disclosed 102 risk factors in its most recent earnings report. Yatra Online reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Compliance with rules and regulations applicable to U.S. reporting companies could cause us to incur additional costs, and any failure by us to comply with such requirements could negatively affect investor confidence in us and cause the market price of our securities to decline. Q1, 2023
2.
We may become subject to Foreign Account Tax Compliance Act withholdings Q1, 2023
3.
Increased focus on our environmental, social and governance responsibilities have and will likely continue to result in additional costs and risks, and may adversely impact our reputation, employee retention and willingness of customers and partners to do business with us. Q1, 2023
Yatra Online Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $74.92B | 17.69 | 45.87% | 1.09% | 8.61% | 49.58% | |
71 Outperform | $33.75B | 10.21 | 20.98% | 0.39% | 17.34% | 91.50% | |
64 Neutral | $27.95B | 27.45 | 114.29% | 0.56% | 7.61% | 9.99% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | $67.16M | -15.80 | 6.86% | ― | 75.67% | ― | |
52 Neutral | $1.25B | 45.50 | 6.10% | ― | 3.05% | 890.32% | |
50 Neutral | $3.88B | 276.78 | 31.18% | ― | 11.07% | -76.51% |
* Consumer Cyclical Sector Average
YTRA
Yatra Online
1.08
0.33
44.00%
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Yatra Online Corporate Events
Yatra Online Subsidiary Trims Yatra India Stake to Fund Legal and Compliance Costs
Feb 19, 2026
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 outstan...
Yatra Online Posts Q3 FY2026 Revenue Growth but Swings to Loss Amid Restructuring Push
Feb 11, 2026
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...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.