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IndiGo Valuation Multiples

Discover revenue and EBITDA valuation multiples for IndiGo and similar public comparables like Bangkok Airways, flyExclusive, and Asia Aviation.

IndiGo Overview

About IndiGo

InterGlobe Aviation Ltd is an airline service provider based in India. The company serves as a low-cost carrier through its Indigo brand. The company caters to its customers through an official website and the IndigoGo App, enabling them to book airline tickets and travel packages. The segments of the company are Air transportation services and Other income. The company earns its revenue predominantly through passenger ticket sales of the domestic airline operation.


Founded

2004

HQ

India
Employees

36.9K+

Website

goindigo.in

Sectors

Airlines

Financials

LTM Revenue $9.6B

LTM EBITDA $2.3B

EV

$26.4B

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IndiGo Financials

IndiGo has a last 12-month revenue (LTM) of $9.6B and a last 12-month EBITDA of $2.3B.

In the most recent fiscal year, IndiGo achieved revenue of $9.5B and an EBITDA of $2.5B.

IndiGo expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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IndiGo P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $9.6B XXX $9.5B XXX XXX XXX
Gross Profit $6.5B XXX $2.1B XXX XXX XXX
Gross Margin 68% XXX 22% XXX XXX XXX
EBITDA $2.3B XXX $2.5B XXX XXX XXX
EBITDA Margin 24% XXX 26% XXX XXX XXX
EBIT $1.2B XXX $1.3B XXX XXX XXX
EBIT Margin 13% XXX 14% XXX XXX XXX
Net Profit $902M XXX $850M XXX XXX XXX
Net Margin 9% XXX 9% XXX XXX XXX
Net Debt XXX XXX $85.1M XXX XXX XXX

Financial data powered by Morningstar, Inc.

IndiGo Stock Performance

As of May 30, 2025, IndiGo's stock price is INR 5330 (or $62).

IndiGo has current market cap of INR 2.06T (or $24.1B), and EV of INR 2.25T (or $26.4B).

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IndiGo Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$26.4B $24.1B XXX XXX XXX XXX $2.39

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IndiGo Valuation Multiples

As of May 30, 2025, IndiGo has market cap of $24.1B and EV of $26.4B.

IndiGo's trades at 2.9x EV/Revenue multiple, and 10.9x EV/EBITDA.

Equity research analysts estimate IndiGo's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

IndiGo has a P/E ratio of 26.7x.

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IndiGo Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $24.1B XXX $24.1B XXX XXX XXX
EV (current) $26.4B XXX $26.4B XXX XXX XXX
EV/Revenue 2.7x XXX 2.9x XXX XXX XXX
EV/EBITDA 11.6x XXX 10.9x XXX XXX XXX
EV/EBIT 21.8x XXX 20.6x XXX XXX XXX
EV/Gross Profit 4.1x XXX n/a XXX XXX XXX
P/E 26.7x XXX 27.5x XXX XXX XXX
EV/FCF 14.9x XXX 10.3x XXX XXX XXX

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IndiGo Margins & Growth Rates

IndiGo's last 12 month revenue growth is 10%

IndiGo's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $23K for the same period.

IndiGo's rule of 40 is 37% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

IndiGo's rule of X is 50% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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IndiGo Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 10% XXX 12% XXX XXX XXX
EBITDA Margin 24% XXX 27% XXX XXX XXX
EBITDA Growth 17% XXX 9% XXX XXX XXX
Rule of 40 37% XXX 37% XXX XXX XXX
Bessemer Rule of X XXX XXX 50% XXX XXX XXX
Revenue per Employee XXX XXX $0.3M XXX XXX XXX
Opex per Employee XXX XXX $23K XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 9% XXX XXX XXX

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IndiGo Public Comps

See public comps and valuation multiples for Airlines comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
flyExclusive XXX XXX XXX XXX XXX XXX
Qantas Airways XXX XXX XXX XXX XXX XXX
Aegean Airlines XXX XXX XXX XXX XXX XXX
Asia Aviation XXX XXX XXX XXX XXX XXX
Bangkok Airways XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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IndiGo M&A and Investment Activity

IndiGo acquired  XXX companies to date.

Last acquisition by IndiGo was  XXXXXXXX, XXXXX XXXXX XXXXXX . IndiGo acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by IndiGo

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About IndiGo

When was IndiGo founded? IndiGo was founded in 2004.
Where is IndiGo headquartered? IndiGo is headquartered in India.
How many employees does IndiGo have? As of today, IndiGo has 36.9K+ employees.
Is IndiGo publicy listed? Yes, IndiGo is a public company listed on NSE.
What is the stock symbol of IndiGo? IndiGo trades under INDIGO ticker.
When did IndiGo go public? IndiGo went public in 2015.
Who are competitors of IndiGo? Similar companies to IndiGo include e.g. flyExclusive, Qantas Airways, Aegean Airlines, Asia Aviation.
What is the current market cap of IndiGo? IndiGo's current market cap is $24.1B
What is the current revenue of IndiGo? IndiGo's last 12 months revenue is $9.6B.
What is the current revenue growth of IndiGo? IndiGo revenue growth (NTM/LTM) is 10%.
What is the current EV/Revenue multiple of IndiGo? Current revenue multiple of IndiGo is 2.7x.
Is IndiGo profitable? Yes, IndiGo is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of IndiGo? IndiGo's last 12 months EBITDA is $2.3B.
What is IndiGo's EBITDA margin? IndiGo's last 12 months EBITDA margin is 24%.
What is the current EV/EBITDA multiple of IndiGo? Current EBITDA multiple of IndiGo is 11.6x.
What is the current FCF of IndiGo? IndiGo's last 12 months FCF is $1.8B.
What is IndiGo's FCF margin? IndiGo's last 12 months FCF margin is 18%.
What is the current EV/FCF multiple of IndiGo? Current FCF multiple of IndiGo is 14.9x.

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