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Financial statements

Yatra Online, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Yatra Online, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue18813596.317.426.246.650.393.1
Cost of revenue75.761.938.80.312.18.1410.447.3
Gross profit11273.457.517.124.138.439.945.8
Operating income-51.6-37.3-8.29-20.1-5.690.97-1.91-1.06
Interest expense2.353.812.561.61.323.973.441.25
Interest income1.410.60.781.120.630.352.052.43
Pre-tax income-61.4-16.6-10.2-15.5-6.14-2.94-3.950.12
Income tax0.870.690.930.880.220.570.45-0.15
Net income to minority interests-0.9-0.66-0.09-0.24-0.060.01-0.191.53
Net income-61.3-16.6-11.1-16.1-6.3-3.52-4.21-1.25
EBITDA-45.1-28.90.55-9.86-1.623.280.462.56
EPS, basic-1.79-0.38-0.24-0.28-0.10-0.06-0.07-0.02
EPS, diluted-1.79-0.39-0.24-0.28-0.10-0.06-0.07-0.02

Balance sheet

FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash and equivalents35.618.18.8422.69.746.0420.46.42
Receivables61.671.231.411.925.537.255.665.2
Total current assets136141815655.266.6132120
Property, plant and equipment3.712.250.830.330.290.560.891.6
Lease right-of-use assets7.146.153.032.441.922.14
Total assets17818111678.67282.3150155
Accounts payable77.676.137.930.331.626.531.334.6
Total current liabilities1651438547.455.270.352.757.2
Lease liabilities5.853.042.481.972.18
Total liabilities18214796.162.760.373.656.862.1
Paid-in capital230273251277267248246241
Retained earnings-246-250-239-262-259-242-243-238
Shareholders' equity-3.4634.119.815.811.78.6164.763.3
Minority interests-0.010.280.250.070.030.1428.529.3
Total equity-3.4634.42015.911.88.7593.192.5
Total liabilities and equity17818111678.67282.3150155

Cash flow statement

FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net income-62.2-17.3-11.1-16.3-6.36-3.51-4.40.27
Depreciation and amortization6.548.418.8410.24.062.312.373.62
Cash from operations-13.5-51.2-7.310.5-12.8-23.9-17.2-3.41
Capital expenditures-3.43-0.44-0.21-0.02-0.12-0.24-0.24-0.73
Cash from investing18.8-9.41.28-3.15-1.14-1.78-27.50.57
Debt issued21.5
Debt repaid-9.15-7.26-4.54
Cash from financing8.8742-4.427.321.7821.361.6-12
Exchange rate effect0.252.70.93-0.070.160.73-1.310.81
Net change in cash14.1-18.6-10.414.6-12.2-4.3416.2-14.8
Free cash flow-17-51.7-7.5110.5-12.9-24.1-17.4-4.14
Income taxes paid1.623.540.53-3.14-0.381.551.22-0.57

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $0.99 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Gross margin49.2%Gross profit / revenue.
Operating margin-1.1%Operating income / revenue.
EBITDA margin2.7%EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin0.1%Pre-tax income / revenue.
Net margin-1.3%Net income / revenue.
FCF margin-4.4%Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin-3.7%Cash from operations / revenue.
Effective tax rate-121.0%Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)-2.0%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)-0.8%Net income / average total assets.
Return on invested capital (ROIC)-1.7%Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue0.8%Capital expenditures / revenue.
D&A / revenue3.9%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y85.2%Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y52.6%Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y-0.7%Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y14.9%Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y23.9%Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y-4.4%Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y451.3%EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 5y36.1%Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y-2.2%Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y75.3%Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y26.2%Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y3.2%Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y29.0%Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y5.9%Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

MetricValueHow it is calculated
Current ratio2.09xCurrent assets / current liabilities.
Quick ratio1.25x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio0.11x(Cash + short-term investments) / current liabilities.
Liabilities / assets40.2%Total liabilities / total assets.
Interest coverage-0.85xOperating income / interest expense.
Working capital$62.4MCurrent assets - current liabilities.
Tangible book value$63.3MShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover0.61xRevenue / average total assets.
Fixed asset turnover74.8xRevenue / average property, plant and equipment.
Receivables turnover1.54xRevenue / average receivables.
Days sales outstanding237 days365 x average receivables / revenue.
Days payables254 days365 x average accounts payable / cost of revenue.

Per share

MetricValueHow it is calculated
EPS, diluted-$0.02Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic-$0.02Net income per basic share, as reported (split-adjusted).

Valuation

MetricValueHow it is calculated
Market cap$63.3MShare price x shares outstanding.
Enterprise value$56.9MMarket cap + total debt - cash - short-term investments.
P/S0.68xMarket cap / revenue.
P/B1.00xMarket cap / shareholders' equity. Only when equity is positive.
Price / tangible book1.00xMarket cap / tangible book value, when positive.
EV/Sales0.61xEnterprise value / revenue.
EV/EBITDA22.2xEnterprise value / EBITDA, when both are positive.
FCF yield-6.5%Free cash flow / market cap.
Earnings yield-2.0%Net income / market cap (the inverse of P/E).
What was Yatra Online, Inc.'s revenue in fiscal 2025?

Yatra Online, Inc. reported revenue of $93.1M for fiscal 2025, 85.2% higher than the year before.

Was Yatra Online, Inc. profitable in fiscal 2025?

No. It reported a net loss of $1.3M.

How much free cash flow did Yatra Online, Inc. generate in fiscal 2025?

Cash from operations of $3.4M minus capital expenditures of $733.0K left free cash flow of -$4.1M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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