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GRAB

Grab Holdings Limited

GRAB

Grab Holdings Limited • NASDAQ
$5.45 ▲ 2.44% (+0.13)
Market Cap $21.61 B
52w High $6.62
52w Low $3.36
Dividend Yield 0%
P/E 272.5
Volume 16.39M
Outstanding Shares 3.96B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $873M ▲ $355M ▲ $37M ▲ 4.238% ▼ $0.009 ▲ $85M ▼
Q2-2025 $819M ▲ $347M ▲ $35M ▲ 4.274% ▲ $0.009 ▼ $96M ▲
Q1-2025 $773M ▲ $345M ▲ $24M ▼ 3.105% ▼ $0.01 ▲ $69M ▲
Q4-2024 $764M ▲ $330M ▼ $27M ▲ 3.534% ▼ $0.007 ▲ $45M ▼
Q3-2024 $716M $345M $26M 3.631% $0.006 $58M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.927B ▼ $11.355B ▲ $4.841B ▲ $6.471B ▲
Q2-2025 $6.973B ▲ $11.145B ▲ $4.784B ▲ $6.362B ▼
Q1-2025 $5.881B ▲ $9.636B ▲ $3.168B ▲ $6.479B ▲
Q4-2024 $5.629B ▼ $9.295B ▲ $2.944B ▲ $6.399B ▲
Q3-2024 $5.654B $9.178B $2.746B $6.359B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $37M ▼ $-83M ▼ $-480M ▼ $-21M ▼ $119M ▼ $-111M ▼
Q2-2025 $43M ▲ $64M ▼ $-257M ▼ $1.185B ▲ $1.052B ▲ $51M ▼
Q1-2025 $24M ▼ $73M ▼ $-213M ▼ $0 ▲ $-136M ▼ $57M ▼
Q4-2024 $27M ▼ $253M ▼ $8M ▼ $-64M ▲ $79M ▼ $223M ▼
Q3-2024 $47M $338M $65M $-129M $438M $302M

Five-Year Company Overview

Income Statement

Income Statement Grab’s income statement shows a business that has grown rapidly while steadily reducing its losses. Revenue has increased several-fold over the last five years, reflecting strong expansion across ride-hailing, delivery, and financial services. Profitability has improved meaningfully: gross profit has turned from negative to clearly positive, operating losses have shrunk, and earnings before key non-cash items are now close to break-even. The company is still loss-making at the net income level, but those losses are far smaller than in the early years, suggesting a more disciplined approach to spending and incentives.

Balance Sheet

Balance Sheet Grab’s balance sheet is relatively solid for a high-growth tech platform. The company holds a substantial cash cushion, which provides a buffer for ongoing investment and volatility in the business. Debt levels have come down from earlier peaks and appear manageable relative to its overall asset base. Shareholders’ equity is clearly positive and stable, a notable shift from the negative equity position earlier in its life, indicating a healthier capital structure and reduced financial fragility.

Cash Flow

Cash Flow Cash flow trends are one of the clearest signs of progress. The business has moved from burning cash to generating cash from operations, showing that its core activities are becoming self-sustaining. After years of negative free cash flow, the company is now roughly free cash flow positive, helped by improving margins and disciplined investment. Capital spending needs are modest relative to the size of the business, which reduces pressure on future fundraising as long as operating performance holds up.

Competitive Edge

Competitive Edge Grab holds a leading position as a “superapp” in Southeast Asia, combining mobility, delivery, and financial services in one ecosystem. Its strength comes from network effects: more users attract more drivers and merchants, which further enhances service quality and convenience. Strong brand recognition, high switching costs for users embedded in the app, and the breadth of services all reinforce its position. However, the region remains highly competitive, with aggressive rivals in ride-hailing, food delivery, and fintech, as well as regulatory and pricing pressures that can squeeze margins.

Innovation and R&D

Innovation and R&D Innovation is a core pillar for Grab. The company invests heavily in artificial intelligence, using hundreds of models to match riders and drivers, personalize offers, fight fraud, and improve delivery accuracy. Its proprietary mapping technology is tailored to the region’s complex roads and two-wheeler traffic, which can offer a real operational edge. Grab is also pushing into new areas such as AI tools for merchants, expanded digital financial services, and early-stage work in autonomous vehicles. These efforts could deepen its moat and open new revenue streams, but they also carry execution risk and may take time to translate into durable profits.

Summary

Overall, Grab looks like a scaling platform that has moved from heavy early-stage losses toward a more mature, financially disciplined phase. Revenue growth has been strong, losses have narrowed significantly, and cash generation has improved to the point where the core business is closer to funding itself. Its competitive advantages lie in its superapp ecosystem, local know-how, and technology investments, especially in AI and mapping. Key uncertainties revolve around competition, regulation, and whether new services and innovations can deliver sustainable, high-quality earnings over time without returning to aggressive cash burn.

NEWS

November 13, 2025 · 2:50 AM UTC

WeRide and Grab Achieve First Autonomous Vehicle Testing in Singapore's Punggol District

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October 23, 2025 · 8:00 AM UTC

May Mobility to Expand Its AV Technology into Southeast Asia with Grab Investment

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September 22, 2025 · 5:14 AM UTC

WeRide to Launch GXRs and Robobus in Singapore as part of Grab's New Ai.R Autonomous Service

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