Yatra Online, Inc.

YTRA
About the company

Yatra Online, Inc. operates as an online travel company in India and internationally. It operates through Air Ticketing; Hotels and Packages; and Other Services segments. The company offers travel-related services, including domestic and international air ticketing, hotel bookings, homestays, holiday packages, bus ticketing, rail ticketing, cab bookings, and ancillary services for leisure and business travelers.

Country: IndiaPrice: $0.82Market Cap: $54.1M

Investment snapshot

18%positive consensus
Scored 1d ago

Positive

3

BUY / PASS

Neutral / negative

1 / 12

NEUTRAL / FAIL

Median fair value

$0.37

-54.9% vs price

Models with upside

0 / 17

Positive margin of safety

Strongest signal

9 of 12 pass — Buffett, Marks and Asness object

Key risk

No clean pass — all 13 investors flag at least one valuation criterion

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

MetricGraham

Defensive Value

Buffett

Quality Compounder

Lynch

GARP

Greenblatt

Magic Formula

Piotroski

F-Score

Dreman

Contrarian Value

Munger

Quality Focus

Pabrai

Dhandho Framework

Akre

Three-Legged Stool

Marks

Risk-Aware Value

Ackman

Activist Value

Templeton

Global Bargain Hunter

Sleep

Scale Economies Shared

Asness

Systematic Factors

Neff

Low-P/E Total Return

Schloss

Asset-Value Discipline

O'Shaughnessy

Systematic Factor Composite

VerdictFAILFAILFAILFAIL · Rank #1912 (Top 61.7%)PASSFAILPASSFAILFAILFAILPASSFAILFAILFAILFAILFAILNEUTRAL
Score
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Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of SafetyN/A-164.5%N/AN/AN/AN/AN/A-90.7%N/AN/AN/AN/AN/AN/AN/AN/AN/A
Financial Basis

Annual history · FY 2024

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024 · Market data at 2026-11-01

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2024

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2024

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024 · Market data at 2026-11-01

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024 · Qualitative assessment

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Annual history · FY 2024 · Price history 2025-01-01–2026-11-01

Latest source filing: 2025-07-31

Score computed: 2026-11-14

Where It Passes

  • Debt & Leverage75% pass✓ 12✗ 3▾

    9 of 12 pass — Buffett, Marks and Asness object

    LT Debt vs Net Current AssetsLT Debt $0.2M vs NCA $62.3M
    ✓GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: 0.10, IC: -0.8x
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / Equity0.10
    ✓Lynch< 0.33
    Cash - Long-term Debt$6.2M
    ✓LynchPositive preferred
    LT Debt / Total Assets Change0.92% -> 0.16%
    ✓PiotroskiDecreased YoY
    Current Assets / Current Liabilities2.09
    ✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity0.10
    ✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
    Debt Levels0.10
    ✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3
    Interest Coverage & Debt/EBITDAIC=-0.8x, D/EBITDA=2.5x
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity0.10
    ✓Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)-0.1010; #1285/4210 (top 30.5%)
    ✗AsnessTop 30% of eligible cross-section

Where It Falls Short

  • Valuation0% pass✓ 5✗ 23▾

    No clean pass — all 13 investors flag at least one valuation criterion

    Price / Book Value per Share0.8x
    ✓Dreman< 1.2x✓Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio0.8x
    ✓Graham<= 1.5x
    P/E x P/B
    ✗Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    EBIT / Enterprise Value-2.0%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-2.0%, ROC=-1.7%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / EPS
    ✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    Valuation ReasonablenessOE Yield=3.2%
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldFCF Yield=-7.6%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/B=0.8x
    ✓MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Price / FCF per ShareN/A (negative FCF)
    ✗Ackman<= 25
    Price vs. Trailing Low121% of trailing low ($0.68)
    ✗Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-2.31%; #3601/6340 (top 56.8%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+1.1684; #1246/6449 (top 19.3%)
    ✓AsnessTop 30% of eligible cross-section
    Price / Diluted EPS
    ✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
    (EPS CAGR % + Dividend Yield %) / P/E
    ✗Neff> 0.7 (Neff's published traditional edge)
    Price / Tangible Book Value per Share1.05x
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+1.7200; #1207/5247 (top 23.0%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization-7.65%; #3132/4519 (top 69.3%)
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date-19.61%; #3944/6202 (top 63.6%)
    ✗OshaughnessyTop 10% of eligible cross-section
  • Valuation models0% pass✗ 2▾

    YTRA overvalued: all 2 models price fair value below $0.82 (median $0.37)

    Buffett fair value$0.31
    ✗Buffett-164.5% margin vs $0.82
    Pabrai fair value$0.43
    ✗Pabrai-90.7% margin vs $0.82
  • Profitability6% pass✓ 3✗ 32▾

    15 of 16 flag YTRA's profitability — Graham, Buffett, Lynch +12 more

    Positive EPS (10 years)0/11 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)0/11 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-40.9%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)-1.1% (latest)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy$1.6M
    ✓BuffettPositive and growing
    Earnings Variance (10-yr CoV)
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness
    ✗Buffett$1 retained -> > $1 market value created
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    ROE-2.0%
    ✗Lynch> 15%
    EBIT / Enterprise Value-2.0%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-2.0%, ROC=-1.7%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-0.81%
    ✗PiotroskiROA > 0
    ROA Change YoY-2.81% -> -0.81% (delta: +2.00%)
    ✓PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=-2.20%, ROA=-0.81%
    ✗PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY79.3% -> 49.2%
    ✗PiotroskiImproved YoY
    Pre-Tax Income / Revenue0.1%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity-2.0%
    ✗Dreman> 12%
    Margin of SafetyP/B=0.8x
    ✓PabraiP/B < 1.5 or P/E < 15
    Return on Equity-16.5% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency0/10 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue-1.1%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity-2.0%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend2.1% (2022) -> -1.1% (2024)
    ✗TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendgross margin 82.5% -> 49.2%, operating margin 2.1% -> -1.1%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-2.31%; #3601/6340 (top 56.8%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+29.64%; #1454/3702 (top 39.3%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity-1.98%; #3051/5226 (top 58.4%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.0703; #3029/5884 (top 51.5%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years0/10 years positive
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
  • Cash Flow10% pass✓ 1✗ 11▾

    9 of 10 flag YTRA's cash flow — Lynch, Piotroski, Dreman +6 more

    Free Cash Flow Proxy$1.6M
    ✓BuffettPositive and growing
    FCF Positive and Growing$-4.1M
    ✗LynchPositive and growing
    Operating Cash Flow$-3.4M
    ✗PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=-2.20%, ROA=-0.81%
    ✗PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    P/E or FCF YieldFCF Yield=-7.6%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive1/10 years FCF positive
    ✗MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap-8.1%
    ✗Ackman>= 4%
    Price / FCF per ShareN/A (negative FCF)
    ✗Ackman<= 25
    Positive Operating Cash Flow frequency1/10 years positive
    ✗SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures$-4.1M
    ✗Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization-7.65%; #3132/4519 (top 69.3%)
    ✗OshaughnessyTop 10% of eligible cross-section
  • Growth13% pass✓ 3✗ 10▾

    7 of 8 flag YTRA's growth — Graham, Lynch, Dreman +4 more

    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    Inventory Growth vs Revenue GrowthN/A (no inventory)
    ✓LynchInventory growth < Revenue growth
    EPS Growth Direction
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency0/10 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth77.7%
    ✓Ackman>= 5%
    Positive EPS Growth Frequency3/5 years with positive EPS growth
    ✓AckmanPositive EPS growth in >= 3 of last 5 years
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Revenue growth vs. gross and operating margin trendgross margin 82.5% -> 49.2%, operating margin 2.1% -> -1.1%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR-0.4%
    ✗SleepCAGR > 7%
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
  • Verdicts19% pass✓ 3✗ 13▾

    Split decision: 12 FAIL · 3 PASS · 1 NEUTRAL

    Overall verdict
    ✗GrahamFAIL (3/9)✗BuffettFAIL (1/9)✗LynchFAIL (3/7)✗GreenblattRank #1912✓PiotroskiPASS (F-Score 4)✗DremanFAIL (3/11)✓MungerPASS (2/4)✗PabraiFAIL (1/3)✗AkreFAIL (2/6)✗MarksFAIL (1/5)✓AckmanPASS (4/9)✗TempletonFAIL (3/8)✗SleepFAIL (2/6)✗AsnessFAIL (Rank #1415/2370 (Top 59.7%))✗NeffFAIL (0/6)✗SchlossFAIL (2/7)•OshaughnessyNEUTRAL (Not ranked)
  • Efficiency25% pass✓ 3✗ 8▾

    6 of 8 flag YTRA's efficiency — Buffett, Greenblatt, Piotroski +3 more

    Current Ratio2.09
    ✓Graham>= 2.0
    ROIC (3-5 yr avg)-20.9%
    ✗Buffett> 10%
    ROIC - WACC-30.9%
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)-1.7%
    ✗Greenblatt> 25%
    Current Ratio Change YoY2.50 -> 2.09
    ✗PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.34x -> 0.60x
    ✓PiotroskiImproved YoY
    Current Assets / Current Liabilities2.09
    ✓Dreman> 1.5
    Return on Invested Capital-1.2%
    ✗Munger> 15%
    ROIC (high and growing)FY2022: ROIC=2.1%; FY2023: ROIC=-2.1%; FY2024: ROIC=-1.2%
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROICN/A (non-positive net income)
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)0/5 years above 12% (latest -1.2%)
    ✗SleepROIC > 12% in a majority of years

Business & financials

Financial snapshot: annual FY 2024. Current investor scores may use newer quarterly data.

Company Profile

Industry: Transportation
SIC Sector: Transportation Services
Size: Micro Cap($54.1M)
Revenue: $93.0M+85.1% YoY
Net Income: $1.3M+70.3% YoY

Financial Snapshot

Operating Margin-1.1%
Return on Equity-2.0%
Debt / Equity0.10
Current Ratio2.09
EPS (Diluted)$-0.02
Shares Retired1.6% / 2.5% 2y

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Shareholder Return

Fiscal 2024

Retired 1.6% of shares last year, 2.5% over two.

Buybacks
—
Dividends
—

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

MetricFY 2024
Sources
  • 20-F · 2025-07-31
FY 2023
Sources
  • 20-F · 2025-07-31
FY 2022
Sources
  • 20-F · 2025-07-31
FY 2021
Sources
  • 20-F · 2022-08-01
FY 2020
Sources
  • 20-F · 2021-07-29
Market Cap$54.1Mcurrent$106.7Mest.$148.0Mest.$110.2Mest.$121.8Mest.
Revenue$93.0M↑85%$50.2M↑8%$46.6M↑78%$26.2M↑50%$17.5M
Operating Income-$1.1M↑45%-$1.9M↓296%$970.3K↑117%-$5.7M↑72%-$20.2M
Net Income-$1.3M↑70%-$4.2M↓19%-$3.5M↑44%-$6.3M↑61%-$16.2M
EPS (Diluted)$-0.02↑70%$-0.07↓20%$-0.06↑45%$-0.10↑64%$-0.28
Gross Margin49.2%↓38%79.3%↓4%82.5%↓10%92.0%↓6%98.2%
Operating Margin-1.1%↑70%-3.8%↓282%2.1%↑110%-21.7%↑81%-115.6%
ROE-2.0%↑70%-6.5%↑84%-40.9%↑24%-53.7%↑47%-101.7%
Total Debt$6.4M↓17%$7.7M↓73%$28.7M↑506%$4.7M↑163%$1.8M
Shareholders' Equity$63.2M↓2%$64.6M↑650%$8.6M↓27%$11.7M↓26%$15.9M
Current Ratio2.09↓16%2.50↑163%0.95↓5%1.00↓15%1.18
Debt / Equity0.10↓15%0.12↓96%3.32↑725%0.40↑256%0.11
Operating Cash Flow-$3.4M↑80%-$17.2M↑28%-$23.9M↓86%-$12.8M↓222%$10.5M
Free Cash Flow-$4.1M↑76%-$17.4M↑28%-$24.1M↓87%-$12.9M↓223%$10.5M

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Transportation

YTRA vs Peers — Financial Grading

Revenue$93.0MBottom 25%
Net Income$1.3MBottom 25%
ROE-2.0%Bottom 25%
D/E0.10Top 25%
Op. Margin-1.1%Bottom 25%
Curr. Ratio2.09Top 25%
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
UNION PACIFIC CORPUNP$179.7B$302.44$24.5B$7.1B38.7%1.7240.2%0.912/94/94/70/3F-Score 73/11
CSX CORPCSX$95.9B$52.05$14.1B$2.9B22.0%1.4332.1%0.812/94/93/70/3F-Score 53/11
ROYAL CARIBBEAN CRUISES LTDRCL$86.5B$323.27$17.9B$4.3B42.5%2.1327.4%0.181/91/91/70/3F-Score 73/11
CANADIAN NATIONAL RAILWAY COCNI$76.3B$127.18————————————
NORFOLK SOUTHERN CORPNSC$73.6B$327.88$12.2B$2.9B18.5%1.1035.8%0.853/96/93/70/3F-Score 65/11
MPLX LPMPLX$58.0B$57.25$13.0B$5.0B34.6%1.7945.7%1.232/94/94/71/3F-Score 68/11
Carnival Corp Ltd.CCL$39.3B$29.23$26.6B$2.8B22.5%2.1716.8%0.321/91/92/70/3F-Score 74/11
OLD DOMINION FREIGHT LINE, INC.ODFL$36.0B$174.54$5.5B$1.0B23.7%0.0124.8%1.443/97/95/71/3F-Score 65/11