Grab Holdings Limited (GRAB)
NEUTRALFondamental
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
Food, grocery and package delivery across Southeast Asian cities, plus advertising revenue from restaurants and merchants on the platform.
Ride-hailing bookings for cars, motorbikes and taxis across the region's major cities, the business Grab was originally built on.
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 · ÉtroitGrab 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 cycliqueRides, 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
Juste valeur
$3.92
Prix actuel
$3.59
Marge de sécurité
+8.4%
Fourchette de juste valeur
$2.55 - $5.29
Méthodes d'estimation
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
Préoccupations financières sérieuses
Qualité des bénéfices
Qualité faible : examiner la comptabilité
Dilution du capital
Rachat d'actions. Favorable aux actionnaires
Gouvernance
Équipe dirigeante
| Nom | Titre | Âge |
|---|---|---|
| Mr. Ping Yeow Tan | Co-Founder, Chairman & CEO | 42 |
| Mr. Alexander Charles Hungate | President, COO & Director | 58 |
| Mr. Peter Oey | Chief Financial Officer | 54 |
| Mr. John E. Pierantoni | Chief Accounting Officer | 52 |
| Mr. Suthen Thomas Paradatheth | Chief Technology Officer | 43 |
| Mr. Douglas Eu | Director of Investor Relations & Strategic Finance | - |
| Mr. Liam Barker | Group General Counsel | - |
| Ms. Hooi Ling Tan | Advisor | 42 |
| Ms. Chin Yin Ong | Chief Organisation Capability Officer | 49 |
| Mr. Ken Vin Lek | Head of Strategic Finance | 33 |
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.
- 3/23/2026POSITIVEGrab 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