Company Overview
Yatra Online, Inc. operates as an online travel entity serving markets in India and internationally, providing services across Air Ticketing, Hotels and Packages, and Other Services segments. The company functions within the Consumer Cyclical sector, specifically the Travel Services industry, a classification that denotes its sensitivity to discretionary consumer spending patterns and economic cycles. With a market capitalization of $62.70M and an annual revenue of $10.37B, the firm employs a workforce of 1452 individuals to execute its operations. The disparity between the relatively modest market cap of $62.70M and the substantial revenue figure of $10.37B indicates that the company is valued on a small-cap basis despite generating significant top-line sales, suggesting the market prices its equity based on future earnings potential or specific risk factors rather than current revenue scale. This valuation structure implies that while the business generates considerable volume in travel transactions, the equity value assigned to the firm does not directly correlate with its full revenue generation in a traditional large-cap manner.
Financial Health
The company reported a trailing twelve-month revenue of $10.37B alongside a net income of $-128,635,000, while maintaining an EBITDA of $112.13M. The significant gap between the massive revenue of $10.37B and the negative net income of $-128,635,000 reveals a cost structure where operating expenses, including commissions and overhead, exceed the gross profit generated from ticketing and hotel bookings. Free cash flow stands at $-212,704,128, indicating that the company is currently burning cash, which limits immediate financial flexibility for capital expenditures or acquisitions without external funding. Despite the negative net income, the firm holds $2.00B in cash, a figure that is more than double its total debt of $916.18M. The debt-to-equity ratio is recorded at 11.70, a metric that suggests a highly leveraged balance sheet relative to shareholders' equity, although the substantial cash position provides a buffer against immediate liquidity crises. Operating liquidity is supported by a current ratio of 2.02, which indicates that the company holds more than double the current assets necessary to cover its short-term liabilities. Return on Equity is 0.8% and Return on Assets is -0.3%, figures that reveal management has yet to generate positive returns on the capital invested, with assets currently contributing to losses rather than profits.
Valuation Assessment
The trailing P/E ratio is listed as N/A due to the lack of positive net income, whereas the forward P/E is 10.97. The existence of a forward P/E while the trailing P/E is unavailable implies that the market expects a trajectory toward profitability in the future earnings period, as current earnings cannot support a traditional valuation multiple. The price-to-book ratio is 1.15, indicating that the stock trades at a slight premium over its book value, suggesting investors are willing to pay slightly more than the net asset value per share. The price-to-sales ratio is 0.01 and the EV/EBITDA is 14.40; these alternative metrics suggest that the market values the company based on enterprise value relative to cash flows rather than earnings or sales multiples typical of profitable firms. The 52-week high is $2.00 and the 52-week low is $0.58, meaning the current price sits at the upper limit of the recent trading range relative to the low and near the high. The beta value is 0.80, which signifies that the stock's price volatility is lower than the broader market, moving at roughly 20% less intensity than the general market index during periods of fluctuation.
Growth & Income
Revenue growth year-over-year is 9.6%, while earnings growth is N/A due to the company's current lack of net income. The absence of positive earnings growth relative to revenue growth implies that the top-line expansion has not yet translated into bottom-line profitability, as costs are scaling faster than revenue or margins are under pressure. As a non-dividend payer, the company has a dividend yield of N/A and a payout ratio of 0.0%, indicating that the firm reinvests all available cash flow into business operations or debt management rather than distributing income to shareholders. The overall growth and income profile is characterized by strong revenue expansion of 9.6% coupled with a complete absence of dividend distributions, reflecting a capital allocation strategy focused on operational scaling and financial restructuring rather than income generation for investors.