MMYT vs. ONON: A Head-to-Head Stock Comparison

Updated on October 5, 2025

Here’s a clear look at MMYT and ONON, comparing key factors like historical performance, profitability, financial strength, growth, dividend, and valuation.

Company Profile

Symbol	MMYT	ONON
Company Name	MakeMyTrip Limited	On Holding AG
Country	India	Switzerland
GICS Sector	Consumer Discretionary	Consumer Discretionary
GICS Industry	Hotels, Restaurants & Leisure	Textiles, Apparel & Luxury Goods
Market Capitalization	8.99 billion USD	13.75 billion USD
Exchange	NasdaqGS	NYSE
Listing Date	August 12, 2010	September 15, 2021
Security Type	Common Stock	Common Stock

Historical Performance

This chart compares the performance of MMYT and ONON by tracking the growth of an initial $10,000 investment in each. Use the tabs to select the desired time period. Data is adjusted for dividends and splits.

MMYT vs. ONON: Growth of a $10,000 investment over the past one year.

Historical Performance at a Glance

Symbol	MMYT	ONON
5-Day Price Return	0.40%	-3.42%
13-Week Price Return	-1.30%	-22.48%
26-Week Price Return	-3.61%	-4.14%
52-Week Price Return	8.68%	-14.45%
Month-to-Date Return	0.91%	-0.59%
Year-to-Date Return	-15.88%	-23.13%
10-Day Avg. Volume	0.84M	5.57M
3-Month Avg. Volume	1.20M	5.78M
3-Month Volatility	33.17%	41.25%
Beta	0.72	2.22

Profitability

Return on Equity (TTM)

MMYT

8.10%

Hotels, Restaurants & Leisure Industry

Max: 84.03%
Q3: 40.12%
Median: 17.38%
Q1: 7.45%
Min: -33.94%

MMYT’s Return on Equity of 8.10% is on par with the norm for the Hotels, Restaurants & Leisure industry, indicating its profitability relative to shareholder equity is typical for the sector.

ONON

9.86%

Textiles, Apparel & Luxury Goods Industry

Max: 42.05%
Q3: 24.41%
Median: 17.18%
Q1: 7.87%
Min: -8.23%

ONON’s Return on Equity of 9.86% is on par with the norm for the Textiles, Apparel & Luxury Goods industry, indicating its profitability relative to shareholder equity is typical for the sector.

MMYT vs. ONON: A comparison of their Return on Equity (TTM) against their respective Hotels, Restaurants & Leisure and Textiles, Apparel & Luxury Goods industry benchmarks.

Net Profit Margin (TTM)

MMYT

10.07%

Hotels, Restaurants & Leisure Industry

Max: 25.61%
Q3: 14.65%
Median: 8.66%
Q1: 3.36%
Min: -9.83%

MMYT’s Net Profit Margin of 10.07% is aligned with the median group of its peers in the Hotels, Restaurants & Leisure industry. This indicates its ability to convert revenue into profit is typical for the sector.

ONON

5.00%

Textiles, Apparel & Luxury Goods Industry

Max: 21.16%
Q3: 13.26%
Median: 6.06%
Q1: 3.93%
Min: -3.05%

ONON’s Net Profit Margin of 5.00% is aligned with the median group of its peers in the Textiles, Apparel & Luxury Goods industry. This indicates its ability to convert revenue into profit is typical for the sector.

MMYT vs. ONON: A comparison of their Net Profit Margin (TTM) against their respective Hotels, Restaurants & Leisure and Textiles, Apparel & Luxury Goods industry benchmarks.

Operating Profit Margin (TTM)

MMYT

13.34%

Hotels, Restaurants & Leisure Industry

Max: 45.80%
Q3: 22.44%
Median: 14.98%
Q1: 6.59%
Min: -15.28%

MMYT’s Operating Profit Margin of 13.34% is around the midpoint for the Hotels, Restaurants & Leisure industry, indicating that its efficiency in managing core business operations is typical for the sector.

ONON

10.87%

Textiles, Apparel & Luxury Goods Industry

Max: 29.47%
Q3: 20.87%
Median: 11.68%
Q1: 6.26%
Min: -0.12%

ONON’s Operating Profit Margin of 10.87% is around the midpoint for the Textiles, Apparel & Luxury Goods industry, indicating that its efficiency in managing core business operations is typical for the sector.

MMYT vs. ONON: A comparison of their Operating Profit Margin (TTM) against their respective Hotels, Restaurants & Leisure and Textiles, Apparel & Luxury Goods industry benchmarks.

Profitability at a Glance

Symbol	MMYT	ONON
Return on Equity (TTM)	8.10%	9.86%
Return on Assets (TTM)	5.32%	5.75%
Net Profit Margin (TTM)	10.07%	5.00%
Operating Profit Margin (TTM)	13.34%	10.87%
Gross Profit Margin (TTM)	73.39%	61.00%

Financial Strength

Current Ratio (MRQ)

MMYT

1.85

Hotels, Restaurants & Leisure Industry

Max: 2.73
Q3: 1.63
Median: 1.12
Q1: 0.73
Min: 0.18

MMYT’s Current Ratio of 1.85 is in the upper quartile for the Hotels, Restaurants & Leisure industry. This signifies a strong liquidity position, suggesting the company is well-equipped to cover its immediate liabilities compared to its peers.

ONON

2.53

Textiles, Apparel & Luxury Goods Industry

Max: 2.94
Q3: 2.22
Median: 1.61
Q1: 1.48
Min: 0.74

ONON’s Current Ratio of 2.53 is in the upper quartile for the Textiles, Apparel & Luxury Goods industry. This signifies a strong liquidity position, suggesting the company is well-equipped to cover its immediate liabilities compared to its peers.

MMYT vs. ONON: A comparison of their Current Ratio (MRQ) against their respective Hotels, Restaurants & Leisure and Textiles, Apparel & Luxury Goods industry benchmarks.

Debt-to-Equity Ratio (MRQ)

MMYT

0.20

Hotels, Restaurants & Leisure Industry

Max: 11.29
Q3: 4.71
Median: 1.65
Q1: 0.27
Min: 0.00

Falling into the lower quartile for the Hotels, Restaurants & Leisure industry, MMYT’s Debt-to-Equity Ratio of 0.20 points to a conservative financing strategy. This results in lower financial risk but potentially limits strategic investments compared to more leveraged competitors.

ONON

0.36

Textiles, Apparel & Luxury Goods Industry

Max: 2.79
Q3: 1.32
Median: 0.60
Q1: 0.27
Min: 0.00

ONON’s Debt-to-Equity Ratio of 0.36 is typical for the Textiles, Apparel & Luxury Goods industry, indicating its use of leverage is in line with the sector norm. This suggests a balanced approach to its capital structure.

MMYT vs. ONON: A comparison of their Debt-to-Equity Ratio (MRQ) against their respective Hotels, Restaurants & Leisure and Textiles, Apparel & Luxury Goods industry benchmarks.

Interest Coverage Ratio (TTM)

MMYT

56.32

Hotels, Restaurants & Leisure Industry

Max: 21.72
Q3: 11.40
Median: 4.02
Q1: 1.19
Min: -11.84

With an Interest Coverage Ratio of 56.32, MMYT demonstrates a superior capacity to service its debt, placing it well above the typical range for the Hotels, Restaurants & Leisure industry. This stems from either robust earnings or a conservative debt load.

ONON

1.62

Textiles, Apparel & Luxury Goods Industry

Max: 57.00
Q3: 32.83
Median: 7.87
Q1: 3.52
Min: -32.49

In the lower quartile for the Textiles, Apparel & Luxury Goods industry, ONON’s Interest Coverage Ratio of 1.62 indicates a tighter cushion for servicing debt, suggesting less financial flexibility than many of its competitors.

MMYT vs. ONON: A comparison of their Interest Coverage Ratio (TTM) against their respective Hotels, Restaurants & Leisure and Textiles, Apparel & Luxury Goods industry benchmarks.

Financial Strength at a Glance

Symbol	MMYT	ONON
Current Ratio (MRQ)	1.85	2.53
Quick Ratio (MRQ)	1.59	1.94
Debt-to-Equity Ratio (MRQ)	0.20	0.36
Interest Coverage Ratio (TTM)	56.32	1.62

Growth

Revenue Growth

MMYT vs. ONON: A side-by-side comparison of their Revenue Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

EPS Growth

MMYT vs. ONON: A side-by-side comparison of their EPS Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

Dividend

Dividend Yield (TTM)

MMYT

0.00%

Hotels, Restaurants & Leisure Industry

Max: 6.81%
Q3: 2.73%
Median: 0.74%
Q1: 0.00%
Min: 0.00%

MMYT currently does not pay a dividend, resulting in a yield of 0%. This is a common strategy for growth-focused companies that prioritize reinvesting earnings, though it may be less typical in mature, income-oriented sectors.

ONON

0.00%

Textiles, Apparel & Luxury Goods Industry

Max: 5.22%
Q3: 3.07%
Median: 2.34%
Q1: 1.11%
Min: 0.00%

ONON currently does not pay a dividend, resulting in a yield of 0%. This is a common strategy for growth-focused companies that prioritize reinvesting earnings, though it may be less typical in mature, income-oriented sectors.

MMYT vs. ONON: A comparison of their Dividend Yield (TTM) against their respective Hotels, Restaurants & Leisure and Textiles, Apparel & Luxury Goods industry benchmarks.

Dividend Payout Ratio (TTM)

MMYT

0.00%

Hotels, Restaurants & Leisure Industry

Max: 128.39%
Q3: 61.60%
Median: 21.91%
Q1: 0.00%
Min: 0.00%

MMYT has a Dividend Payout Ratio of 0%, indicating it does not currently pay a dividend. This is a common strategy for growth-oriented companies that reinvest all profits back into the business.

ONON

0.00%

Textiles, Apparel & Luxury Goods Industry

Max: 156.63%
Q3: 94.60%
Median: 52.65%
Q1: 35.04%
Min: 0.00%

ONON has a Dividend Payout Ratio of 0%, indicating it does not currently pay a dividend. This is a common strategy for growth-oriented companies that reinvest all profits back into the business.

MMYT vs. ONON: A comparison of their Dividend Payout Ratio (TTM) against their respective Hotels, Restaurants & Leisure and Textiles, Apparel & Luxury Goods industry benchmarks.

Dividend at a Glance

Symbol	MMYT	ONON
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

Price-to-Earnings Ratio (TTM)

MMYT

89.77

Hotels, Restaurants & Leisure Industry

Max: 56.96
Q3: 33.82
Median: 21.30
Q1: 15.75
Min: 6.06

At 89.77, MMYT’s P/E Ratio is exceptionally high, exceeding the typical maximum for the Hotels, Restaurants & Leisure industry. This suggests the stock may be significantly overvalued compared to its peers and implies high market expectations that could be difficult to meet.

ONON

80.65

Textiles, Apparel & Luxury Goods Industry

Max: 48.15
Q3: 33.82
Median: 20.70
Q1: 14.57
Min: 7.12

At 80.65, ONON’s P/E Ratio is exceptionally high, exceeding the typical maximum for the Textiles, Apparel & Luxury Goods industry. This suggests the stock may be significantly overvalued compared to its peers and implies high market expectations that could be difficult to meet.

MMYT vs. ONON: A comparison of their Price-to-Earnings Ratio (TTM) against their respective Hotels, Restaurants & Leisure and Textiles, Apparel & Luxury Goods industry benchmarks.

Price-to-Sales Ratio (TTM)

MMYT

9.04

Hotels, Restaurants & Leisure Industry

Max: 7.19
Q3: 3.99
Median: 1.93
Q1: 1.26
Min: 0.17

With a P/S Ratio of 9.04, MMYT trades at a valuation that eclipses even the highest in the Hotels, Restaurants & Leisure industry. This implies the market has priced in exceptionally optimistic scenarios for future revenue growth, posing considerable valuation risk.

ONON

4.03

Textiles, Apparel & Luxury Goods Industry

Max: 4.35
Q3: 3.06
Median: 1.66
Q1: 0.83
Min: 0.26

ONON’s P/S Ratio of 4.03 is in the upper echelon for the Textiles, Apparel & Luxury Goods industry. This means the company is valued richly on its revenue stream compared to its peers, suggesting the stock is priced for a high level of future performance.

MMYT vs. ONON: A comparison of their Price-to-Sales Ratio (TTM) against their respective Hotels, Restaurants & Leisure and Textiles, Apparel & Luxury Goods industry benchmarks.

Price-to-Book Ratio (MRQ)

MMYT

8.95

Hotels, Restaurants & Leisure Industry

Max: 24.89
Q3: 11.60
Median: 4.91
Q1: 2.29
Min: 0.37

MMYT’s P/B Ratio of 8.95 is within the conventional range for the Hotels, Restaurants & Leisure industry. This shows a balanced market view, where the stock’s price is neither at a significant premium nor a discount to the book value of its peers.

ONON

9.68

Textiles, Apparel & Luxury Goods Industry

Max: 9.74
Q3: 5.59
Median: 3.41
Q1: 2.01
Min: 0.56

ONON’s P/B Ratio of 9.68 is in the upper tier for the Textiles, Apparel & Luxury Goods industry. This indicates that investors are paying a premium relative to the company’s net assets, a valuation that hinges on its ability to generate superior profits.

MMYT vs. ONON: A comparison of their Price-to-Book Ratio (MRQ) against their respective Hotels, Restaurants & Leisure and Textiles, Apparel & Luxury Goods industry benchmarks.

Valuation at a Glance

Symbol	MMYT	ONON
Price-to-Earnings Ratio (TTM)	89.77	80.65
Price-to-Sales Ratio (TTM)	9.04	4.03
Price-to-Book Ratio (MRQ)	8.95	9.68
Price-to-Free Cash Flow Ratio (TTM)	54.29	29.45