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Yatra Online
(NASDAQ:YTRA)
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Rating:53Neutral
Price Target:
$0.85
▼(-25.74% Downside)
Action:Reiterated
Date:05/31/26
The score is primarily shaped by improving but still mixed fundamentals: rapid top-line growth and a healthier balance sheet are positives, but inconsistent profitability and uneven free-cash-flow quality limit conviction. Technically, the stock’s downtrend signals (below key moving averages and negative MACD) further weigh on the rating, while earnings-call guidance provides some offset with constructive medium-term growth and margin expansion targets despite near-term disruption risk.
Positive Factors
Balance Sheet Strength
Material derisking of the capital structure gives Yatra durable financial flexibility. Low leverage reduces refinancing and interest burdens, enabling continued investment in technology and supply expansion while preserving runway to fund growth or weather cycles without immediate capital raises.
Negative Factors
Inconsistent Profitability
Despite rapid revenue scaling, the business has not yet delivered stable net profitability. Persistent operating losses and margin volatility raise execution risk for management's margin targets and mean shareholder returns depend on successful, sustained margin improvement rather than one-off gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Material derisking of the capital structure gives Yatra durable financial flexibility. Low leverage reduces refinancing and interest burdens, enabling continued investment in technology and supply expansion while preserving runway to fund growth or weather cycles without immediate capital raises.
Read all positive factors
Yatra Online Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down sales across different parts of the business so investors can see where cash is actually coming from and how the mix is shifting over time. A well-balanced mix reduces risk; concentration in low-margin segments or falling share in higher-margin areas can materially affect profitability and growth prospects.
Breaks down sales across different parts of the business so investors can see where cash is actually coming from and how the mix is shifting over time. A well-balanced mix reduces risk; concentration in low-margin segments or falling share in higher-margin areas can materially affect profitability and growth prospects.
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The Fly
The FlyYatra Online (YTRA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$57.21M
Dividend YieldN/A
Average Volume (3M)193.26K
Price to Earnings (P/E)38.3
Beta (1Y)0.95
Revenue Growth21.63%
EPS Growth-86.07%
CountryUS
Employees1,268
SectorConsumer Cyclical
Sector Strength84
IndustryTravel Services
Share Statistics
EPS (TTM)-3.49
Shares Outstanding60,330,925
10 Day Avg. Volume441,784
30 Day Avg. Volume193,257
Financial Highlights & Ratios
PEG Ratio-0.10
Price to Book (P/B)1.27
Price to Sales (P/S)0.63
P/FCF Ratio0.00
Enterprise Value/Market Cap310.56
Enterprise Value/Revenue1.76
Enterprise Value/Gross Profit6.67
Enterprise Value/Ebitda39.09
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. functions as a digital travel agency, catering to customers both within India and across global markets. Its operations are segmented into air travel bookings, accommodation and package deals, and a diverse category of ancillary...
How the Company Makes Money
Yatra Online primarily makes money by earning revenue on travel bookings and related services made through its platforms. Key revenue streams typically include: (1) commissions and/or incentives from airlines, hotels, and other travel suppliers fo...
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
44
Neutral
Balance Sheet
72
Positive
Cash Flow
48
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 10.60B | 7.95B | 4.19B | 3.83B | 1.99B |
| Gross Profit | 2.53B | 3.92B | 3.32B | 3.16B | 1.83B |
| EBITDA | 385.77M | 396.00M | 107.55M | 166.53M | -62.50M |
| Net Income | -233.64M | -106.92M | -350.94M | -289.24M | -477.85M |
Balance Sheet | |||||
| Total Assets | 13.20B | 13.21B | 12.49B | 6.77B | 5.46B |
| Cash, Cash Equivalents and Short-Term Investments | 2.43B | 1.92B | 4.41B | 1.14B | 1.42B |
| Total Debt | 1.01B | 784.01M | 853.93M | 2.60B | 628.24M |
| Total Liabilities | 5.01B | 5.30B | 4.73B | 6.05B | 4.57B |
| Stockholders Equity | 5.22B | 5.40B | 5.39B | 707.70M | 890.26M |
Cash Flow | |||||
| Free Cash Flow | 0.00 | -586.35M | -19.88M | -2.12B | -1.07B |
| Operating Cash Flow | 614.79M | -291.09M | -19.64M | -1.96B | -972.20M |
| Investing Cash Flow | -468.95M | 49.03M | 64.46M | -145.95M | -86.54M |
| Financing Cash Flow | -415.32M | -1.03B | -27.86M | 1.75B | 135.26M |
Yatra Online Technical Analysis
Neutral
1.15
Price Trends
0.93
Negative
1.02
Negative
1.33
Negative
Market Momentum
>-0.01
Negative
50.59
Neutral
55.07
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 1.15 is above the 20-day moving average (MA) of 0.91, above the 50-day MA of 0.93, and below the 200-day MA of 1.33, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 50.59 is Neutral, neither overbought nor oversold. The STOCH value of 55.07 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $32.51B | 22.62 | 147.58% | 0.56% | 10.01% | 33.63% | |
73 Outperform | $27.70B | 5.92 | 21.02% | 0.39% | 19.28% | 87.04% | |
69 Neutral | $76.53B | 17.33 | 45.86% | 1.09% | 9.74% | 34.02% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | $5.56B | 117.77 | -38.21% | ― | 6.71% | -41.74% | |
57 Neutral | $1.63B | 100.18 | 2.86% | ― | 2.03% | -64.68% | |
53 Neutral | $57.21M | 38.31 | 5.83% | ― | 21.63% | -86.07% |
* Consumer Cyclical Sector Average
YTRA
Yatra Online
0.92
-0.05
-5.15%
TCOM
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EXPE
Expedia
270.83
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48.70%
MMYT
Makemytrip
58.62
-32.34
-35.55%
RCL
Royal Caribbean
285.37
-50.91
-15.14%
TRIP
TripAdvisor
13.98
-4.18
-23.02%
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.