GRABGrab Holdings Limited
Is the business good?
The checks split: nothing decisive, though earnings fully cash-backed (1.6×).
Operating profit is fully backed by cash.
A balanced mix of margins, efficiency, and leverage. ROE 4% = margin × turnover × leverage.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is GRAB?
Grab Holdings Limited earns 0.81% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 8.2 points below what the capital costs: growth destroys value
- Operating margin
- 1.9%
Operating margin · Software - Application median 6.4% · fiscal year to FY2025
- Cash conversion
- 1.64×
Cash conversion · operating cash flow covers the operating profit after tax
- Share count, year on year
- +2.4%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −277% |
| FY2021 | −230% |
| FY2022 | −96% |
| FY2023 | −22% |
| FY2024 | −6.0% |
| FY2025 | 1.9% |
Details›
- Gross marginfiscal year to FY2025
- 43%
- Operating marginfiscal year to FY2025
- 1.9%
- Net marginfiscal year to FY2025
- 8.0%
- Free cash flow margin
- −0.53%
- R&D as % of revenue
- 13%
- Revenue, trailing twelve months
- $3.37B
- Free cash flow, trailing twelve months
- −$18M
- Net income, trailing twelve months
- $268M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 0.81%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Software, Application
Ranks #72 of 96 by RyuScore