Yatra Online Inc (YTRA)
NASDAQ:YTRA
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Yatra Online
(NASDAQ:YTRA)
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Rating:58Neutral
Price Target:
$1.00
▼(-13.04% Downside)
Action:Reiterated
Date: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 Key Performance Indicators (KPIs)
Yatra Online (YTRA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$58.02M
Dividend YieldN/A
Average Volume (3M)193.26K
Price to Earnings (P/E)―
Beta (1Y)0.89
Revenue Growth21.63%
EPS Growth-86.07%
CountryUS
Employees1,268
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Services
Share Statistics
EPS (TTM)-2.05
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 Cap271.82
Enterprise Value/Revenue1.52
Enterprise Value/Gross Profit4.20
Enterprise Value/Ebitda30.17
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.1
Revenue Forecast (FY)$122.90M
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:May 23, 2026
(Q4-2026)
| Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The call emphasized a strong full-year performance with double-digit revenue growth (27% YoY), meaningful gross margin expansion (+22.6% YoY) and a large jump in adjusted EBITDA (+64% YoY). These full-year achievements, plus continued traction in corporate sales, air and hotels momentum, technology investments and healthy cash, constitute the dominant narrative. However, the quarter suffered notable short-term headwinds from a West Asia conflict that led to a 14% QoQ revenue decline in Q4, a 49% drop in Q4 adjusted EBITDA and cancellations/deferrals in MICE and international group travel, creating near-term uncertainty. On balance, the strong full-year operating and margin improvements outweigh the Q4 disruptions, and management expects recovery in H2 FY'27 backed by structural demand and continued investments.Positive Updates
Strong Full-Year Revenue Growth
Revenue from operations for FY'26 grew 27% YoY to INR 10,074 million (~$107M), demonstrating resilient topline expansion despite macro headwinds.
Negative Updates
Q4 Revenue Decline
Revenue from operations in Q4 FY'26 decreased 14% YoY to INR 1,890 million (~$20M), reflecting short-term weakness driven by external disruptions.
Read all updates
Q4-2026 Updates
Positive
Negative
Strong Full-Year Revenue Growth
Revenue from operations for FY'26 grew 27% YoY to INR 10,074 million (~$107M), demonstrating resilient topline expansion despite macro headwinds.
Read all positive updates
Company Guidance
Management guided to a strong medium‑term trajectory, targeting a mid‑term CAGR of ~20% in revenue less service costs (RLSC) and ~30% in adjusted EBITDA, expecting FY27 H2 to be materially stronger than H1 with Q1 run‑rates already ~20% above Q4; they cited a large addressable market (online managed corporate travel penetration <25%) and high customer stickiness (retention ~97%) alongside ongoing enterprise traction (163 new corporate customers in FY26 with ~INR 9,568m annual billable value; 55 added in Q4 with ~INR 2,709m potential). The guidance is anchored to FY26 results—revenue INR 10,074m, RLSC INR 4,801m (+22.6% YoY), adjusted EBITDA INR 564m (+64% YoY), cash/term deposits INR 2,512m—and management expects gradual margin expansion driven by hotel supply, API distribution and AI/automation investments.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
Negative
1.15
Price Trends
1.02
Negative
1.26
Negative
1.41
Negative
Market Momentum
-0.05
Positive
42.51
Neutral
24.72
Neutral
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 1.15 is above the 20-day moving average (MA) of 0.97, above the 50-day MA of 1.02, and below the 200-day MA of 1.41, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 42.51 is Neutral, neither overbought nor oversold. The STOCH value of 24.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
67 Neutral | $25.76B | ― | 154.33% | 0.56% | 10.01% | 33.63% | |
66 Neutral | $30.91B | 19.53 | 21.02% | 0.39% | 17.27% | 94.65% | |
66 Neutral | $68.68B | 19.74 | 45.86% | 1.09% | 9.74% | 34.02% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | $58.02M | -95.54 | 6.86% | ― | 21.63% | -86.07% | |
55 Neutral | $4.06B | 73.40 | -38.21% | ― | 6.71% | -41.74% | |
52 Neutral | $1.17B | ― | 2.86% | ― | 2.03% | -64.68% |
* Consumer Cyclical Sector Average
YTRA
Yatra Online
0.89
0.04
5.06%
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222.97
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36.24%
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-58.06%
RCL
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TRIP
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-29.94%
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.