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IndiGo Valuation Multiples

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

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 $9.4B

LTM EBITDA $2.1B

EV

$25.5B

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IndiGo Financials

IndiGo has a last 12-month revenue of $9.4B and a last 12-month EBITDA of $2.1B.

In the most recent fiscal year, IndiGo achieved revenue of $7.8B and an EBITDA of $2.2B.

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

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IndiGo P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $6.3B $7.8B XXX XXX XXX
Gross Profit -$215M $999M XXX XXX XXX
Gross Margin -3% 13% XXX XXX XXX
EBITDA $921M $2.2B XXX XXX XXX
EBITDA Margin 15% 28% XXX XXX XXX
Net Profit -$716M -$35.5M XXX XXX XXX
Net Margin -11% 0% XXX XXX XXX
Net Debt $335M $114M XXX XXX XXX

Financial data powered by Morningstar, Inc.

IndiGo Stock Performance

As of April 15, 2025, IndiGo's stock price is INR 5151 (or $60).

IndiGo has current market cap of INR 1.99T (or $23.1B), and EV of INR 2.20T (or $25.5B).

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IndiGo Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$25.5B $23.1B XXX XXX XXX XXX $1.99

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IndiGo Valuation Multiples

As of April 15, 2025, IndiGo has market cap of $23.1B and EV of $25.5B.

IndiGo's trades at 2.7x LTM EV/Revenue multiple, and 12.3x LTM EBITDA.

Analysts estimate IndiGo's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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IndiGo Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $25.5B XXX XXX XXX
EV/Revenue 2.9x XXX XXX XXX
EV/EBITDA 12.2x XXX XXX XXX
P/E 28.1x XXX XXX XXX
P/E/Growth 2.0x XXX XXX XXX
EV/FCF 15.9x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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IndiGo Valuation Multiples

IndiGo's NTM/LTM revenue growth is 11%

IndiGo's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $8K for the same period.

Over next 12 months, IndiGo's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate IndiGo's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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IndiGo Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 24% XXX XXX XXX XXX
EBITDA Margin 23% XXX XXX XXX XXX
EBITDA Growth 135% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 35% XXX XXX XXX XXX
Revenue per Employee $0.2M XXX XXX XXX XXX
Opex per Employee $8K XXX XXX XXX XXX
S&M Expenses to Revenue 0% XXX XXX XXX XXX
G&A Expenses to Revenue 1% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 4% XXX 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 $23.1B
What is the current revenue of IndiGo? IndiGo's last 12-month revenue is $9.4B.
What is the current EBITDA of IndiGo? IndiGo's last 12-month EBITDA is $2.1B.
What is the current EV/Revenue multiple of IndiGo? Current revenue multiple of IndiGo is 2.7x.
What is the current EV/EBITDA multiple of IndiGo? Current EBITDA multiple of IndiGo is 12.3x.
What is the current revenue growth of IndiGo? IndiGo revenue growth between 2023 and 2024 was 24%.
Is IndiGo profitable? Yes, IndiGo is EBITDA-positive (as of the last 12 months).

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