Subdued Growth No Barrier To MakeMyTrip Limited’s (NASDAQ:MMYT) Price

When close to half the companies in the United States have price-to-earnings ratios (or “P/E’s”) below 17x, you may consider MakeMyTrip Limited (NASDAQ:MMYT) as a stock to avoid entirely with its 45.2x P/E ratio. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the highly elevated P/E.

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MakeMyTrip certainly has been doing a good job lately as it’s been growing earnings more than most other companies. It seems that many are expecting the strong earnings performance to persist, which has raised the P/E. You’d really hope so, otherwise you’re paying a pretty hefty price for no particular reason.

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