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Side-by-side financial comparison of MakeMyTrip Ltd (MMYT) and Trip.com Group Ltd (TCOM). Click either name above to swap in a different company.
Trip.com Group Ltd is the larger business by last-quarter revenue ($304.6M vs $88.6M, roughly 3.4× MakeMyTrip Ltd).
MakeMyTrip Limited is an Indian online travel company, headquartered in Gurgaon. Founded in 2000, it operates an online travel-booking platform for travel services such as airline tickets, hotel reservations, holiday packages, and rail and bus tickets. The company also maintains offices outside India, including locations in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, Dubai and Istanbul.
Trip.com Group Limited is a multinational travel agency headquartered in Shanghai, China. It is the largest online travel service provider in the world.
MMYT vs TCOM — Head-to-Head
Income Statement — Q4 FY2022 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $88.6M | $304.6M |
| Net Profit | — | $84.6M |
| Gross Margin | — | 78.8% |
| Operating Margin | 3.8% | 16.5% |
| Net Margin | — | 27.8% |
| Revenue YoY | 11.8% | — |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $0.12 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $304.6M | ||
| Q2 24 | — | $242.7M | ||
| Q2 23 | — | $214.5M | ||
| Q4 22 | — | $100.7M | ||
| Q3 22 | — | $82.7M | ||
| Q1 22 | $88.6M | — | ||
| Q4 21 | $115.0M | — | ||
| Q3 21 | $67.5M | — |
| Q4 25 | — | $84.6M | ||
| Q2 24 | — | $73.8M | ||
| Q2 23 | — | $12.6M | ||
| Q4 22 | — | $41.5M | ||
| Q3 22 | — | $152.6M | ||
| Q1 22 | — | — | ||
| Q4 21 | — | — | ||
| Q3 21 | — | — |
| Q4 25 | — | 78.8% | ||
| Q2 24 | — | 81.8% | ||
| Q2 23 | — | 82.0% | ||
| Q4 22 | — | 76.0% | ||
| Q3 22 | — | 75.5% | ||
| Q1 22 | — | — | ||
| Q4 21 | — | — | ||
| Q3 21 | — | — |
| Q4 25 | — | 16.5% | ||
| Q2 24 | — | 27.8% | ||
| Q2 23 | — | 26.4% | ||
| Q4 22 | — | — | ||
| Q3 22 | — | -4.2% | ||
| Q1 22 | 3.8% | — | ||
| Q4 21 | -5.4% | — | ||
| Q3 21 | -11.8% | — |
| Q4 25 | — | 27.8% | ||
| Q2 24 | — | 30.4% | ||
| Q2 23 | — | 5.9% | ||
| Q4 22 | — | 41.2% | ||
| Q3 22 | — | 184.6% | ||
| Q1 22 | — | — | ||
| Q4 21 | — | — | ||
| Q3 21 | — | — |
| Q4 25 | — | $0.12 | ||
| Q2 24 | — | $0.11 | ||
| Q2 23 | — | $0.02 | ||
| Q4 22 | — | $0.06 | ||
| Q3 22 | — | $0.00 | ||
| Q1 22 | — | — | ||
| Q4 21 | — | — | ||
| Q3 21 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $213.3M | $10.8B |
| Total DebtLower is stronger | — | $4.2B |
| Stockholders' EquityBook value | $896.5M | $23.8B |
| Total Assets | $1.3B | $36.9B |
| Debt / EquityLower = less leverage | — | 0.18× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $10.8B | ||
| Q2 24 | — | $12.4B | ||
| Q2 23 | — | $7.6B | ||
| Q4 22 | — | $6.2B | ||
| Q3 22 | — | $7.4B | ||
| Q1 22 | $213.3M | — | ||
| Q4 21 | — | — | ||
| Q3 21 | — | — |
| Q4 25 | — | $4.2B | ||
| Q2 24 | — | $8.2B | ||
| Q2 23 | — | $7.2B | ||
| Q4 22 | — | $1.8B | ||
| Q3 22 | — | $7.4B | ||
| Q1 22 | — | — | ||
| Q4 21 | — | — | ||
| Q3 21 | — | — |
| Q4 25 | — | $23.8B | ||
| Q2 24 | — | $18.1B | ||
| Q2 23 | — | $16.3B | ||
| Q4 22 | — | $16.3B | ||
| Q3 22 | — | $15.2B | ||
| Q1 22 | $896.5M | — | ||
| Q4 21 | — | — | ||
| Q3 21 | — | — |
| Q4 25 | — | $36.9B | ||
| Q2 24 | — | $34.2B | ||
| Q2 23 | — | $30.1B | ||
| Q4 22 | — | $27.8B | ||
| Q3 22 | — | $26.9B | ||
| Q1 22 | $1.3B | — | ||
| Q4 21 | — | — | ||
| Q3 21 | — | — |
| Q4 25 | — | 0.18× | ||
| Q2 24 | — | 0.45× | ||
| Q2 23 | — | 0.44× | ||
| Q4 22 | — | 0.11× | ||
| Q3 22 | — | 0.49× | ||
| Q1 22 | — | — | ||
| Q4 21 | — | — | ||
| Q3 21 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MMYT
Segment breakdown not available.
TCOM
| Others | $273.0M | 90% |
| Other | $31.6M | 10% |
