Grab Holdings Ltd. Class A (GRAB) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.01	$0.07	+600.0%	—	$998M	—
Q1 26	$0.01	$0.03	+200.0%	—	$955M	—
Q4 25	$0.01	$0.04	+300.0%	—	$906M	—
Q3 25	$0.01	$0.01	0.0%	—	$873M	—
Q2 25	$0.01	$0.01	0.0%	—	$819M	—
Q1 25	$0.01	$0.01	0.0%	—	$773M	—
Q4 24	$0.01	$0.02	+100.0%	—	$764M	—
Q3 24	—	$0.01	—	—	$716M	—
Q2 24	-$0.01	-$0.01	0.0%	—	$664M	—
Q1 24	-$0.01	-$0.02	-100.0%	—	$653M	—
Q4 23	—	$0.01	—	—	$653M	—
Q3 23	-$0.01	-$0.01	0.0%	—	$615M	—
Q2 23	-$0.06	-$0.02	+66.7%	—	$567M	—
Q1 23	-$0.07	-$0.05	+28.6%	—	$525M	—
Q4 22	-$0.05	-$0.06	-20.0%	—	$502M	—
Q3 22	-$0.1	-$0.07	+30.0%	—	$382M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.07	—	—	$3.4B	—
FY24	—	-$0.03	—	—	$2.8B	—
FY23	—	-$0.11	—	—	$2.4B	—
FY22	—	-$0.44	—	—	$1.4B	—
FY21	—	-$0.92

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	-$845M	$469M	$675M	$1.4B	$2.4B	$2.8B	$3.4B
YoY change	—	+155.5%	+43.9%	+112.3%	+64.6%	+18.6%	+20.5%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	-845M	469M	675M	1.4B	2.4B	2.8B	3.4B
Cost of revenue	1.3B	963M	1.1B	1.4B	1.5B	1.6B	1.9B
Gross profit	-2.2B	-494M	-395M	77M	860M	1.2B	1.5B
Gross margin	256.2%	-105.3%	-58.5%	5.37%	36.5%	42%	43.2%
Research & development	231M	257M	356M	465M	421M	410M	428M
Selling, general & administrative	542M	477M	785M	924M	843M	836M	826M
Operating expenses	759M	701M	1.1B	1.4B	1.2B	1.2B	1.2B
Operating income	-2.9B	-1.2B	-1.5B	-1.3B	-387M	-55M	222M
Operating margin	346%	-254.8%	-225.8%	-90.4%	-16.4%	-1.97%	6.59%
Non-operating income, net	-80M	-115M	1M	-381M	-177M	-186M	-80M
Pretax income	-4B	-2.7B	-3.6B	-1.7B	-466M	-95M	269M
Income tax	7M	2M	3M	6M	19M	63M	69M
Net income	-4B	-2.7B	-3.6B	-1.7B	-485M	-158M	200M
Net margin	472%	-585.3%	-526.7%	-121.4%	-20.6%	-5.65%	5.93%
EBITDA	-2.2B	-828M	-1.5B	-1.1B	-56M	267M	593M
EPS	-0.95	-0.66	-0.92	-0.44	-0.11	-0.03	0.07
Diluted EPS	-0.95	-0.66	-0.92	-0.44	-0.11	-0.03	0.06

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	615M	653M	653M	664M	716M	764M	773M	819M	873M	906M	955M	998M
Cost of revenue	375M	377M	394M	387M	409M	432M	449M	465M	491M	509M	541M	561M
Gross profit	240M	276M	259M	277M	307M	332M	324M	354M	382M	397M	414M	437M
Gross margin	39%	42.3%	39.7%	41.7%	42.9%	43.5%	41.9%	43.2%	43.8%	43.8%	43.4%	43.8%
Research & development	99M	102M	116M	104M	97M	93M	121M	114M	103M	91M	120M	104M
Selling, general & administrative	207M	219M	198M	209M	194M	235M	195M	208M	212M	211M	219M	241M
Operating expenses	300M	316M	312M	311M	285M	323M	308M	315M	315M	299M	340M	343M
Operating income	-60M	-40M	-53M	-34M	22M	9M	16M	39M	67M	98M	74M	93M
Operating margin	-9.76%	-6.13%	-8.12%	-5.12%	3.07%	1.18%	2.07%	4.76%	7.67%	10.8%	7.75%	9.32%
Non-operating income, net	-59M	25M	-41M	-32M	-56M	-57M	-59M	-25M	-50M	57M	44M	-250M
Pretax income	-83M	8M	-102M	-51M	47M	11M	24M	43M	38M	164M	124M	191M
Income tax	16M	-3M	13M	18M	32M	0	14M	23M	21M	11M	4M	-44M
Net income	-99M	11M	-115M	-69M	15M	11M	10M	20M	17M	153M	120M	235M
Net margin	-16.1%	1.68%	-17.6%	-10.4%	2.09%	1.44%	1.29%	2.44%	1.95%	16.9%	12.6%	23.5%
EBITDA	13M	58M	26M	47M	74M	125M	127M	124M	161M	182M	166M	524M
EPS	-0.02	0.01	-0.03	-0.01	0.01	0.01	0.01	—	0.01	0.04	0.03	0.06
Diluted EPS	-0.02	0.01	-0.03	-0.01	0.01	0.01	0.01	—	0.01	0	-0.01	0.06

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	50.8B	26.7B	12.3B	13.1B	18.9B	20.4B	12.7B
Enterprise value	—	47.7B	20.8B	8.6B	8.9B	13.6B	15.7B	8.7B
Shares outstanding	3.9B	3.9B	3.7B	3.8B	3.9B	4B	4.1B	4.1B

Valuation

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	102.1	28.5
P/S	—	108.3	39.5	8.57	5.56	6.74	6.06	3.43
P/B	—	-8.07	3.33	1.85	2.03	2.97	3.02	1.89
EV/EBITDA	—	-57.7	-13.7	-8.12	-158.5	50.9	26.4	25.4
EV/Sales	—	101.8	30.8	5.97	3.76	4.86	4.65	2.33
Earnings yield	—	—	—	—	—	—	0.98%	3.51%
FCF yield	—	-1.34%	-3.89%	-7.1%	-0.05%	3.92%	-0.22%	3.97%
PEG	—	—	—	—	—	—	—	22.9

Profitability

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	256.2%	-105.3%	-58.5%	5.37%	36.5%	42%	43.2%	43.8%
Operating margin	346%	-254.8%	-225.8%	-90.4%	-16.4%	-1.97%	6.59%	2.1%
Net margin	472%	-585.3%	-526.7%	-121.4%	-20.6%	-5.65%	5.93%	16%
ROE	94.4%	43.6%	-44.3%	-26.1%	-7.5%	-2.49%	2.96%	7.74%
ROA	-79.4%	-50.4%	-31.8%	-19%	-5.52%	-1.7%	1.67%	0.7%
ROIC	45%	12.8%	-72%	-44.1%	-17.4%	-5.06%	8.23%	11.3%
Return on tangible assets	-149.7%	-75.9%	-36.2%	-23.6%	-6.97%	-2.15%	2.03%	4.42%

Financial health

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	4.01	4.49	8.46	5.19	3.9	2.53	1.75	1.52
Quick ratio	4	4.49	8.45	5.14	3.87	2.51	1.73	1.51
Debt / equity	-0.08	-0.04	0.27	0.21	0.12	0.06	0.3	0.28
Debt / assets	0.07	0.05	0.19	0.15	0.09	0.04	0.17	0.15
Net debt / EBITDA	1.03	3.68	3.89	3.53	75.9	-19.7	-8.01	-4.13
Interest coverage	-2.78	-0.91	-1.09	-9.51	-3.71	-1.32	4.79	5.58
Effective tax rate	0%	0%	0%	0%	0%	0%	25.7%	0%

Per share

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	-0.21	0.12	0.18	0.38	0.61	0.7	0.82	0.91
EPS (basic)	-0.95	-0.66	-0.92	-0.44	-0.11	-0.03	0.07	0.07
EPS (diluted)	-0.95	-0.66	-0.92	-0.44	-0.11	-0.03	0.06	0.11
Book value per share	-1.07	-1.59	2.14	1.75	1.66	1.59	1.65	1.66
FCF per share	-0.57	-0.17	-0.28	-0.23	-0	0.18	-0.01	-0.04
Cash per share	0.66	0.84	2.16	1.33	1.29	1.41	1.66	1.6
Capex per share	0.02	0.01	0.01	0.01	0.01	0.01	—	—

Capital allocation

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	-10.9%	8.74%	7.11%	3.21%	1.82%	1.82%	—	—
Capex / operating cash flow	-3.83%	-4.93%	-4.96%	-4.06%	11.1%	6.27%	—	—
Payout ratio	0%	0%	0%	0%	0%	0%	0%	0%
Dividend yield	—	0%	0%	0%	0%	0%	0%	0%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	2.6B	3.3B	8.1B	5.1B	5B	5.6B	6.8B
Receivables	69M	84M	95M	100M	119M	138M	136M
Inventory	5M	3M	4M	48M	49M	59M	87M
Total current assets	3.1B	3.8B	8.7B	5.7B	5.8B	6.6B	8.1B
Property, plant & equipment	417M	255M	213M	201M	215M	259M	441M
Goodwill & intangibles	2.4B	1.8B	1.4B	1.8B	1.8B	1.9B	2.1B
Total assets	5B	5.4B	11.2B	9.2B	8.8B	9.3B	12B
Accounts payable	99M	109M	167M	189M	185M	208M	260M
Short-term debt	161M	140M	144M	117M	125M	123M	1.7B
Total current liabilities	783M	836M	1B	1.1B	1.5B	2.6B	4.6B
Long-term debt	184M	111M	2B	1.2B	668M	241M	373M
Total liabilities	9.2B	11.7B	3.2B	2.5B	2.3B	2.9B	5.2B
Shareholders' equity	-4.2B	-6.3B	8B	6.7B	6.5B	6.4B	6.8B
Total debt	345M	251M	2.2B	1.4B	793M	364M	2.1B
Net debt	-1B	-1.8B	-2.7B	-587M	-2.3B	-2.6B	-1.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	4.8B	—	4B	4.4B	5.7B	—	5.9B	7B	6.9B	6.8B	6.3B	6.3B
Receivables	148M	—	203M	202M	262M	—	267M	262M	230M	136M	210M	249M
Inventory	46M	—	48M	48M	56M	—	74M	75M	79M	87M	87M	90M
Total current assets	5.5B	—	4.8B	5.5B	6.5B	—	6.9B	8.2B	8B	8.1B	7.6B	8.4B
Property, plant & equipment	—	—	—	—	—	—	—	—	—	441M	—	—
Goodwill & intangibles	917M	—	912M	914M	943M	—	1B	1B	1B	2.1B	1.1B	1.6B
Total assets	8.6B	—	8.2B	8.5B	9.2B	—	9.6B	11.1B	11.4B	12B	11.7B	13.4B
Accounts payable	895M	—	855M	952M	1.1B	—	1.1B	1.1B	1.2B	260M	1.3B	1.3B
Short-term debt	121M	—	92M	86M	100M	—	132M	1.6B	1.8B	1.7B	1.6B	1.6B
Total current liabilities	1.4B	—	1.5B	1.8B	2.4B	—	2.8B	4.4B	4.4B	4.6B	4.6B	5.5B
Long-term debt	657M	—	206M	209M	228M	—	253M	283M	320M	373M	384M	409M
Total liabilities	2.3B	—	1.9B	2.1B	2.7B	—	3.2B	4.8B	4.8B	5.2B	5.2B	6.2B
Shareholders' equity	6.3B	—	6.3B	6.3B	6.4B	—	6.5B	6.4B	6.5B	6.8B	6.5B	7.2B
Total debt	778M	—	298M	295M	328M	—	385M	1.9B	2.1B	2.1B	1.9B	2B
Net debt	-2.2B	—	-1.8B	-2B	-2.6B	—	-2.4B	-1.8B	-1.1B	-1.4B	-1B	-826M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-4B	-2.7B	-3.6B	-1.7B	-466M	-95M	269M
Depreciation & amortization	647M	387M	345M	150M	145M	147M	177M
Stock-based compensation	34M	54M	357M	412M	304M	279M	241M
Change in working capital	-73M	75M	-144M	-20M	503M	563M	-431M
Operating cash flow	-2.4B	-832M	-968M	-1.1B	387M	813M	79M
Capital expenditure	-92M	41M	-48M	-46M	-43M	-51M	—
Investing cash flow	-223M	-351M	-2.8B	-1.1B	-43M	-24M	-244M
Dividends paid	0	0	0	0	0	0	0
Share repurchases	—	—	—	—	—	-226M	-274M
Financing cash flow	2B	1.6B	6.6B	-970M	-706M	-762M	1.1B
Net change in cash	-660M	407M	2.9B	-3.2B	-362M	27M	932M
Free cash flow	-2.3B	-683M	-1B	-872M	-6M	739M	-44M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-83M	8M	-102M	-51M	47M	11M	24M	43M	38M	164M	124M	191M
Depreciation & amortization	37M	37M	40M	34M	36M	37M	40M	41M	47M	49M	54M	55M
Stock-based compensation	70M	66M	94M	82M	53M	49M	80M	61M	55M	45M	78M	62M
Change in working capital	610M	-108M	39M	202M	97M	133M	-45M	-48M	-342M	-141M	-242M	-130M
Operating cash flow	599M	-73M	79M	252M	152M	236M	32M	63M	-127M	69M	-59M	56M
Capital expenditure	-10M	-27M	-7M	-11M	-12M	-21M	-12M	—	—	—	—	—
Investing cash flow	-10M	-27M	-45M	-16M	79M	-42M	-57M	-303M	-63M	-90M	-105M	-254M
Dividends paid	0	0	0	0	0	0	0	0	0	0	0	0
Share repurchases	0	—	-97M	-34M	-58M	-37M	0	-274M	0	0	-400M	0
Financing cash flow	-9M	-30M	-600M	27M	-132M	-59M	-4M	1.2B	-50M	-35M	-416M	121M
Net change in cash	580M	-130M	-566M	263M	99M	135M	-29M	948M	-240M	-56M	-580M	-77M
Free cash flow	291M	-49M	-25M	253M	302M	209M	47M	51M	-159M	17M	-72M	28M

Grab Holdings Ltd. Class A Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement