WallStSmart

MakeMyTrip Limited (MMYT)vsPDD Holdings Inc. (PDD)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

PDD Holdings Inc. generates 42276% more annual revenue ($442.40B vs $1.04B). PDD leads profitability with a 21.6% profit margin vs 5.0%. PDD appears more attractively valued with a PEG of 0.76. PDD earns a higher WallStSmart Score of 76/100 (B+).

MMYT

Hold

38

out of 100

Grade: F

Growth: 5.3Profit: 6.0Value: 4.0Quality: 7.0
Piotroski: 4/9Altman Z: -0.81

PDD

Strong Buy

76

out of 100

Grade: B+

Growth: 6.0Profit: 8.0Value: 9.3Quality: 8.0
Piotroski: 2/9Altman Z: 3.69
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

MMYTUndervalued (+29.8%)

Margin of Safety

+29.8%

Fair Value

$84.65

Current Price

$44.09

$40.56 discount

UndervaluedFair: $84.65Overvalued
PDDUndervalued (+70.4%)

Margin of Safety

+70.4%

Fair Value

$361.05

Current Price

$78.11

$282.94 discount

UndervaluedFair: $361.05Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

MMYT1 strengths · Avg: 10.0/10
Debt/EquityHealth
-20.7510/10

Conservative balance sheet, low leverage

PDD6 strengths · Avg: 9.7/10
P/E RatioValuation
8.6x10/10

Attractively priced relative to earnings

Debt/EquityHealth
0.0110/10

Conservative balance sheet, low leverage

Free Cash FlowQuality
$24.12B10/10

Generating 24.1B in free cash flow

Altman Z-ScoreHealth
3.6910/10

Safe zone — low bankruptcy risk

Market CapQuality
$116.09B9/10

Large-cap with strong market position

Return on EquityProfitability
22.9%9/10

Every $100 of equity generates 23 in profit

Areas to Watch

MMYT4 concerns · Avg: 2.8/10
Revenue GrowthGrowth
1.9%4/10

1.9% revenue growth

Profit MarginProfitability
5.0%3/10

5.0% margin — thin

PEG RatioValuation
5.392/10

Expensive relative to growth rate

P/E RatioValuation
119.9x2/10

Premium valuation, high expectations priced in

PDD2 concerns · Avg: 2.5/10
Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

EPS GrowthGrowth
-14.9%2/10

Earnings declined 14.9%

Comparative Analysis Report

WallStSmart Research

Bull Case : MMYT

The strongest argument for MMYT centers on Debt/Equity.

Bull Case : PDD

The strongest argument for PDD centers on P/E Ratio, Debt/Equity, Free Cash Flow. Profitability is solid with margins at 21.6% and operating margin at 18.4%. Revenue growth of 11.0% demonstrates continued momentum.

Bear Case : MMYT

The primary concerns for MMYT are Revenue Growth, Profit Margin, PEG Ratio. A P/E of 119.9x leaves little room for execution misses. Thin 5.0% margins leave little buffer for downturns.

Bear Case : PDD

The primary concerns for PDD are Piotroski F-Score, EPS Growth.

Key Dynamics to Monitor

MMYT profiles as a value stock while PDD is a mature play — different risk/reward profiles.

MMYT carries more volatility with a beta of 1.00 — expect wider price swings.

PDD is growing revenue faster at 11.0% — sustainability is the question.

Monitor TRAVEL SERVICES industry trends, competitive dynamics, and regulatory changes.

Bottom Line

PDD scores higher overall (76/100 vs 38/100), backed by strong 21.6% margins and 11.0% revenue growth. MMYT offers better value entry with a 29.8% margin of safety. Both earn "Strong Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

MakeMyTrip Limited

CONSUMER CYCLICAL · TRAVEL SERVICES · USA

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, and Indonesia. The company is headquartered in Gurugram, India.

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PDD Holdings Inc.

CONSUMER CYCLICAL · INTERNET RETAIL · China

Pinduoduo Inc., operates an electronic commerce platform in the People's Republic of China. The company is headquartered in Shanghai, the People's Republic of China.

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