Is Yatra Online overvalued or undervalued?

As of 4 July 2025, Yatra Online's valuation grade has moved from expensive to fair, indicating a more favorable assessment of its market position. The company is currently fairly valued, with a PE ratio of 35.66, an EV to EBITDA of 28.91, and a PEG ratio of 0.04, which suggests that its growth prospects may not be fully reflected in its price.
In comparison to peers, Yatra Online's valuation metrics are more attractive than those of I R C T C, which has a PE ratio of 48.85 and an EV to EBITDA of 38.97, as well as TBO Tek, which has a PE ratio of 70.70. Conversely, Thomas Cook (I) is considered attractive with a PE ratio of 29.86, highlighting that Yatra Online's valuation is competitive within the industry. Despite recent underperformance, with a year-to-date return of -28.11% compared to the Sensex's 6.77%, the current valuation suggests that Yatra Online may offer potential upside for investors.