<p>MakeMyTrip (MMYT) 最近吸引了投资者的关注，因为新的分析师评级为 “跑赢大盘”，恰逢其股价上涨 5%，这得益于国际机票和酒店收入的强劲表现。</p>
<p>查看我们对 MakeMyTrip 的最新分析。</p>
<p>这种乐观反应符合 MakeMyTrip 这一年较为复杂的表现，过去 30 天的股价回报为 14.31%，但年初至今的股价回报为负 27.40%。五年的总股东回报为 210.33%，仍然显示出强劲的长期动能。</p>
<p>如果你喜欢这里的增长故事，现在也是扫描内部持股比例高的快速增长股票的好时机，看看还有哪些快速发展的机会开始吸引严肃的投资者关注。</p>
<p>尽管今年股价仍大幅下跌，但交易价格约低于共识目标价 32%，投资者面临着强劲增长和情绪变化的权衡：MakeMyTrip 今天被低估了吗，还是已经反映了其下一阶段的扩张？</p>
<h2>最受欢迎的叙述：24.3% 被低估</h2>
<p>MakeMyTrip 最近收盘价为 84.38 美元，而公允价值估计为 111.40 美元，主流叙述认为仍有显著的上涨空间。</p>
<blockquote>
<p><em>持续投资于产品创新，特别是在人工智能驱动的个性化和用户体验改进方面，使 MakeMyTrip 能够实现更高的转化率、更好的客户留存，最终通过改善运营杠杆支持扩大的净利润率。</em></p>
</blockquote>
<p>阅读完整叙述。</p>
<p>想看看支撑这一上涨预测的收益和利润路线图吗？该叙述悄然融入了加速的利润增长和未来的高倍数。好奇哪些假设真正影响了这个公允价值吗？</p>
<p><strong>结果：公允价值为 111.40 美元（被低估）</strong></p>
<p>完整阅读叙述，了解预测背后的内容。</p>
<p>然而，国内航空旅行的持续压力和持续高企的客户获取成本可能迅速打击今天积极展望中蕴含的乐观情绪。</p>
<p>了解 MakeMyTrip 叙述中的关键风险。</p>
<h2>另一种观点：盈利的高估值</h2>
<p>虽然叙述的公允价值暗示有上涨空间，但当前价格讲述了一个更为严峻的故事。MakeMyTrip 的市盈率为 104.9 倍，而美国酒店行业约为 24.1 倍，同行为 21.4 倍，公允比率为 32.7 倍。这一非常大的差距表明，如果增长或利润率稍有波动，执行风险将非常高，因此投资者必须问今天的乐观情绪是否已经完全反映在价格中。</p>
<p>查看数字对这个价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/04965fa8-0e48-4f6d-b994-aca16de29f0a/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/04965fa8-0e48-4f6d-b994-aca16de29f0a/chart/pe-multiple-vs-industry"/></p>
<p>NasdaqGS:MMYT 截至 2025 年 12 月的市盈率</p>
<h2>自建 MakeMyTrip 叙述</h2>
<p>如果这个观点与你的看法不太一致，可以自己深入数字，几分钟内构建个性化叙述，按你的方式进行。</p>
<p>你对 MakeMyTrip 研究的一个很好的起点是我们的分析，强调了 2 个关键奖励和 2 个可能影响你投资决策的重要警示信号。</p>
<h2>寻找更多投资想法？</h2>
<p>在你继续之前，确保你没有因为忽视基于真实基本面和市场趋势的目标股票想法而错过潜在赢家。</p>
<ul>
<li>通过审查这些 908 只可能被低估的股票，利用潜在的错误定价，这些股票的现金流可能低于其现金流所暗示的价值。</li>
<li>通过关注这 26 只有望受益于人工智能快速发展的 AI 小型股，乘上下一波技术变革的浪潮。</li>
<li>通过这些 13 只收益率超过 3% 的分红股票，增强你的收入策略，这些股票结合了吸引人的收益率和资本增长的潜力。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑你的目标或财务状况。我们旨在为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 对提到的任何股票没有持仓。</em></p>
<p>国防和灾难的移动基础设施</p>
<p>下一波机器人技术不是人形的。它是完全自主的塔，在 30 分钟内提供 5G、ISR 和雷达，随处可达。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

MMYT

<p>MakeMyTrip (MMYT) 收到了 “跑赢大盘” 的评级，股价上涨了 5%。尽管这一年表现参差不齐，30 天回报率为 14.31%，但年初至今回报率为负 27.40%，其长期动能依然强劲。该股票被认为低估了 24.3%，合理价值为 111.40 美元，受益于人工智能创新和利润率改善。然而，高市盈率和国内旅游压力带来了风险。建议投资者同时考虑增长潜力和估值风险</p>

<p>MakeMyTrip (MMYT) recently drew investors’ attention after new analyst coverage with an Outperform rating coincided with a 5% rise in its share price, supported by stronger international air ticketing and hotel revenues.</p>
<div class="lb-trans"><p>MakeMyTrip (MMYT) 最近吸引了投资者的关注，因为新的分析师评级为 “跑赢大盘”，恰逢其股价上涨 5%，这得益于国际机票和酒店收入的强劲表现。</p>
</div><p>See our latest analysis for MakeMyTrip.</p>
<div class="lb-trans"><p>查看我们对 MakeMyTrip 的最新分析。</p>
</div><p>That bullish reaction fits into a more mixed year for MakeMyTrip, with a 30 day share price return of 14.31% but a year to date share price return of negative 27.40%. The five year total shareholder return of 210.33% still speaks to strong long term momentum.</p>
<div class="lb-trans"><p>这种乐观反应符合 MakeMyTrip 这一年较为复杂的表现，过去 30 天的股价回报为 14.31%，但年初至今的股价回报为负 27.40%。五年的总股东回报为 210.33%，仍然显示出强劲的长期动能。</p>
</div><p>If you like the growth story here, it is also a good moment to scan fast growing stocks with high insider ownership and see what other fast moving opportunities are starting to attract serious investor attention.</p>
<div class="lb-trans"><p>如果你喜欢这里的增长故事，现在也是扫描内部持股比例高的快速增长股票的好时机，看看还有哪些快速发展的机会开始吸引严肃的投资者关注。</p>
</div><p>With the shares still down sharply this year but trading about 32% below consensus price targets, investors are left weighing strong growth and sentiment shifts: is MakeMyTrip undervalued today or already pricing in its next leg of expansion?</p>
<div class="lb-trans"><p>尽管今年股价仍大幅下跌，但交易价格约低于共识目标价 32%，投资者面临着强劲增长和情绪变化的权衡：MakeMyTrip 今天被低估了吗，还是已经反映了其下一阶段的扩张？</p>
</div><h2>Most Popular Narrative Narrative: 24.3% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：24.3% 被低估</h2>
</div><p>With MakeMyTrip last closing at $84.38 versus a fair value estimate of $111.40, the dominant narrative sees meaningful upside still on the table.</p>
<div class="lb-trans"><p>MakeMyTrip 最近收盘价为 84.38 美元，而公允价值估计为 111.40 美元，主流叙述认为仍有显著的上涨空间。</p>
</div><blockquote>
<p><em>Ongoing investment in product innovation, particularly in AI powered personalization and user experience improvements, positions MakeMyTrip for higher conversion rates, better customer retention, and ultimately supports expanding net margins through improved operating leverage.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>持续投资于产品创新，特别是在人工智能驱动的个性化和用户体验改进方面，使 MakeMyTrip 能够实现更高的转化率、更好的客户留存，最终通过改善运营杠杆支持扩大的净利润率。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>Want to see the earnings and margin roadmap behind that upside call? The narrative quietly bakes in turbocharged profit growth and a punchy future multiple. Curious which assumptions really move the needle on that fair value?</p>
<div class="lb-trans"><p>想看看支撑这一上涨预测的收益和利润路线图吗？该叙述悄然融入了加速的利润增长和未来的高倍数。好奇哪些假设真正影响了这个公允价值吗？</p>
</div><p><strong>Result: Fair Value of $111.40 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为 111.40 美元（被低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的内容。</p>
</div><p>However, lingering pressure on domestic air travel and consistently high customer acquisition costs could quickly puncture the optimism embedded in today’s positive outlook.</p>
<div class="lb-trans"><p>然而，国内航空旅行的持续压力和持续高企的客户获取成本可能迅速打击今天积极展望中蕴含的乐观情绪。</p>
</div><p>Find out about the key risks to this MakeMyTrip narrative.</p>
<div class="lb-trans"><p>了解 MakeMyTrip 叙述中的关键风险。</p>
</div><h2>Another View: Rich Valuation on Earnings</h2>
<div class="lb-trans"><h2>另一种观点：盈利的高估值</h2>
</div><p>While the narrative fair value suggests upside, the current price tells a tougher story. MakeMyTrip trades on a price to earnings ratio of 104.9 times, versus about 24.1 times for the US Hospitality industry, 21.4 times for peers, and a fair ratio of 32.7 times. That very wide gap points to a lot of execution risk if growth or margins wobble even slightly, so investors must ask whether today’s optimism is already fully priced in.</p>
<div class="lb-trans"><p>虽然叙述的公允价值暗示有上涨空间，但当前价格讲述了一个更为严峻的故事。MakeMyTrip 的市盈率为 104.9 倍，而美国酒店行业约为 24.1 倍，同行为 21.4 倍，公允比率为 32.7 倍。这一非常大的差距表明，如果增长或利润率稍有波动，执行风险将非常高，因此投资者必须问今天的乐观情绪是否已经完全反映在价格中。</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这个价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/04965fa8-0e48-4f6d-b994-aca16de29f0a/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/04965fa8-0e48-4f6d-b994-aca16de29f0a/chart/pe-multiple-vs-industry"/></p>
<p>NasdaqGS:MMYT PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>NasdaqGS:MMYT 截至 2025 年 12 月的市盈率</p>
</div><h2>Build Your Own MakeMyTrip Narrative</h2>
<div class="lb-trans"><h2>自建 MakeMyTrip 叙述</h2>
</div><p>If this perspective does not quite match your own view, dive into the numbers yourself and build a personalized narrative in minutes, Do it your way.</p>
<div class="lb-trans"><p>如果这个观点与你的看法不太一致，可以自己深入数字，几分钟内构建个性化叙述，按你的方式进行。</p>
</div><p>A great starting point for your MakeMyTrip research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.</p>
<div class="lb-trans"><p>你对 MakeMyTrip 研究的一个很好的起点是我们的分析，强调了 2 个关键奖励和 2 个可能影响你投资决策的重要警示信号。</p>
</div><h2>Looking for more investment ideas?</h2>
<div class="lb-trans"><h2>寻找更多投资想法？</h2>
</div><p>Before you move on, make sure you are not leaving potential winners on the table by overlooking targeted stock ideas shaped by real fundamentals and market trends.</p>
<div class="lb-trans"><p>在你继续之前，确保你没有因为忽视基于真实基本面和市场趋势的目标股票想法而错过潜在赢家。</p>
</div><ul>
<li>Capitalize on potential mispricing by reviewing these 908 undervalued stocks based on cash flows that may be trading below what their cash flows suggest they are worth.</li>
<li>Ride the next wave of technological change by focusing on these 26 AI penny stocks positioned to benefit from rapid advances in artificial intelligence.</li>
<li>Strengthen your income strategy with these 13 dividend stocks with yields &gt; 3% that combine attractive yields with the potential for capital growth.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过审查这些 908 只可能被低估的股票，利用潜在的错误定价，这些股票的现金流可能低于其现金流所暗示的价值。</li>
<li>通过关注这 26 只有望受益于人工智能快速发展的 AI 小型股，乘上下一波技术变革的浪潮。</li>
<li>通过这些 13 只收益率超过 3% 的分红股票，增强你的收入策略，这些股票结合了吸引人的收益率和资本增长的潜力。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑你的目标或财务状况。我们旨在为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 对提到的任何股票没有持仓。</em></p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>国防和灾难的移动基础设施</p>
</div><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p>
<div class="lb-trans"><p>下一波机器人技术不是人形的。它是完全自主的塔，在 30 分钟内提供 5G、ISR 和雷达，随处可达。</p>
</div><p>Get the investor briefing before the next round of contracts</p>
<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>由 CiTech 赞助</p>
</div>

MakeMyTrip (NasdaqGS:MMYT)：在获得新的跑赢大盘评级和旅游收入强劲增长后重新审视其估值