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Grab Holdings Limited (GRAB)

NEUTRAL
TechnologySoftware - ApplicationSingapore

Fondamental

50

Prix

$3.59

Capitalisation boursière

$14.40B

Partie 1 · Ce que vaut l'entreprise

Vue d'ensemble

Grab runs a 'superapp' used across Southeast Asia for ride-hailing, food and package delivery, and digital financial services, all inside one app. A driver or rider in Singapore, Indonesia, Thailand, the Philippines, Vietnam or Malaysia can book a car, order food from a local restaurant, pay a merchant with GrabPay, or take out a small loan, all without leaving Grab. It does not own the vehicles or restaurants involved; it connects independent drivers, riders, merchants and diners.

Comment l'entreprise gagne de l'argent

Grab earns a commission on each ride, delivery or payment that flows through the app, plus advertising fees from merchants who pay to be promoted and interest income from its lending business. Because drivers and merchants keep most of the transaction value, Grab's revenue is a slice of a much larger flow of money (GMV) rather than the full sale price, so profitability depends on that slice growing faster than the incentives Grab pays drivers and merchants to stay on the platform.

Chiffre d'affaires par segment

Deliveries53.4%

Food, grocery and package delivery across Southeast Asian cities, plus advertising revenue from restaurants and merchants on the platform.

Mobility36.2%

Ride-hailing bookings for cars, motorbikes and taxis across the region's major cities, the business Grab was originally built on.

Financial Services10.3%

Digital payments, consumer and small-merchant lending, and insurance distribution offered through the Grab app, the fastest-growing of the three segments.

Avantage concurrentiel

Effets de réseau · Étroit

Grab benefits from classic two-sided network effects: more drivers on the app means shorter wait times for riders and diners, which attracts more users, which in turn attracts more drivers. The advantage is narrow rather than wide, though, because both drivers and users routinely run a rival app like Gojek alongside Grab and switch to whichever offers the better price at that moment.

Ce qui stimule la demande

Modérément cyclique

Rides, food delivery and payments are used habitually and tied to daily life in the region's cities, giving demand some resilience, but spending on discretionary trips and food orders still slows when consumers in emerging Southeast Asian economies pull back, and currency swings across six-plus countries add another layer of variability to reported results.

Principaux risques

  • Intense regional competition — Gojek and other local players compete directly for the same drivers, riders and merchants across multiple countries, keeping pressure on prices and on the incentive spending needed to retain them.
  • Fragmented regulation across countries — Ride-hailing, delivery and digital lending are each regulated differently in Singapore, Indonesia, Thailand, the Philippines, Vietnam and Malaysia, and a rule change in any one market can force costly adjustments.
  • Driver classification risk — Drivers are treated as independent contractors rather than employees; a legal or regulatory change requiring employee status in any market would raise costs significantly.
  • Currency and macroeconomic exposure — Results are reported in US dollars but earned across several Southeast Asian currencies, so currency depreciation or a regional economic slowdown can reduce reported revenue even if local operations are stable.
  • Credit risk in the lending business — As Financial Services grows its loan book to consumers and small merchants, Grab takes on credit risk it did not carry as a pure ride-hailing and delivery company.

Les arguments en faveur

Buyers argue that Grab's superapp habit, its leading position in ride-hailing and delivery across Southeast Asia, and a financial-services arm that just turned the company profitable for the first time show a platform that can keep growing revenue per user for years.

Les arguments contre

Sellers fear that price-sensitive users and drivers who freely multi-home across Grab and Gojek will keep competition, and the incentive spending needed to win them, structurally high, limiting how much of that growth converts into durable profit.

Written by the editors, published on 18 août 2026

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

Bilan & Liquidités

Chiffre d'affaires

$3.73B

12 derniers mois (au 30/06/2026)

Résultat net

$597M

12 derniers mois (au 30/06/2026)

Flux de trésorerie libre

$503M

Capitaux propres totaux

$6.59B

Passif total

$2.03B

Ratio de liquidité général

1.52

Couverture des intérêts

-

Dette/EBITDA

5.93

Bénéfice par action

Chiffre d'affaires & Résultat net

Flux de trésorerie libre

Décomposition du résultat

État historique

Marges dans le temps

La dette dans le temps

Le poids de la dette

Grille de la croissance

Croissance — Chiffre d'affaires

Estimation de la juste valeur

Justement valorisé

Juste valeur

$3.92

Prix actuel

$3.59

Marge de sécurité

+8.4%

Fourchette de juste valeur

$2.55 - $5.29

Méthodes d'estimation

Analyst Target:$5.86
DCF:$2.54
PE-based:$2.90
Graham Growth:$1.79
EPV:$0.24
Consensus des analystes:Achat fort (27B / 2H / 0S)
Dernière surprise sur les résultats:+157.51%

Indicateurs de valorisation

Ratio P/E

32.00

ROE

7.7%

Ratio P/B

2.12

P/FCF

27.83

Marge brute

40.5%

ROIC

0.7%

Radar de rentabilité

Value Creation (Economic Moat)

ROIC

0.7%

WACC

8.3%

ROIC − WACC

-7.6 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

Critères d'analyse fondamentale

Réussi (12)

  • Gross Margin 40.5%
  • P/FCF 27.83
  • P/B Ratio 2.12
  • Debt/Equity ratio
  • Positive Free Cash Flow
  • Current Ratio
  • Debt/EBITDA
  • ROE 9.0%
  • Revenue Growth 5Y 48.4%
  • Analyst Consensus 93% Buy
  • Earnings Surprise avg 152.0%
  • Net Margin Trend 8.0% vs -3.8%

Échoué (6)

  • Price CAGR -19.58%
  • ROIC 0.7%
  • CapEx intensity
  • DCF valuation (Overvalued)
  • Earnings Quality (OCF/NI) -0.22
  • Piotroski F-Score 0/9

Indisponible (9)

  • EPS data insufficient
  • Dividend Payout NaN%
  • Operating Margin NaN%
  • Interest Coverage
  • Return on Tangible Assets
  • Low reliance on intangibles
  • Price below Graham Number
  • PEG Ratio (need PE > 0 and growth > 0)
  • Share Dilution (missing shares data)

Score F de Piotroski

0/9

Préoccupations financières sérieuses

score
criteria

Qualité des bénéfices

-0.22

Qualité faible : examiner la comptabilité

Dilution du capital

-

Rachat d'actions. Favorable aux actionnaires

Gouvernance

Équipe dirigeante

NomTitreÂge
Mr. Ping Yeow TanCo-Founder, Chairman & CEO42
Mr. Alexander Charles HungatePresident, COO & Director58
Mr. Peter OeyChief Financial Officer54
Mr. John E. PierantoniChief Accounting Officer52
Mr. Suthen Thomas ParadathethChief Technology Officer43
Mr. Douglas EuDirector of Investor Relations & Strategic Finance-
Mr. Liam BarkerGroup General Counsel-
Ms. Hooi Ling TanAdvisor42
Ms. Chin Yin OngChief Organisation Capability Officer49
Mr. Ken Vin LekHead of Strategic Finance33

Partie 2 · Le prix et le moment d'entrer

Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.

Latest News

Recent headlines for GRAB, sourced from Markets Gazette.

  • 3/23/2026POSITIVE
    Grab Strikes $600 Million Deal for Foodpanda Taiwan Business

    Grab Holdings Ltd. has announced a significant strategic move, agreeing to acquire Delivery Hero SE's Foodpanda operations in Taiwan for $600 million. This acquisition marks Grab's first expansion beyond its core Southeast Asian markets, signaling a bold growth strategy. The deal is expected to bolster Grab's market position and revenue streams by entering a new, potentially lucrative territory. Investors will be watching how Grab integrates Foodpanda Taiwan and leverages this expansion to drive future profitability and shareholder value.

via Markets Gazette