Grab Holdings Limited

GRAB

Software - Application · Technology

Price

$3.48

-0.03 (-0.85%)

Market Cap

$13.83B

Exchange

NASDAQ

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Exceptional

Cash Flow

Weak

Stability

Good

Valuation

Good

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Share count rising — dilution

+12.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 3.74B (2021) → 4.21B (2025)

Winston Score History

The full picture

Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+21.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+617.4% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$428M/ year

→ Flat (+4% vs prior year)

12.7% of revenue

In line with sector average (15%)

Steady R&D investment year-over-year

Insider Activity

35.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$7.8B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Grab Holdings Limited is a rare growth stock that's already generating positive cash flow while growing at 22%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

43.6%

Healthy — 43.6% gross margin

Profit after running costs

Operating Margin

9.1%

Modest — 9.1% operating margin

Return on the money invested

ROCE

3.8%

Weak — 3.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+21.5%

Fast-growing sales (+21.5% YoY)

Profit growth

EPS YoY

+359.9%

Earnings growing fast (+359.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

Weak — only 6% of profit becomes cash

Spare cash per sale

FCF Margin

-1.8%

Burning cash (-1.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.30

Conservative — low debt load (0.30)

Covers its interest

Interest Cover

2.92x

Tight — interest eats into profit (2.9x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

23.9x

Growth-priced — P/E 23.9

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+2.4

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Not applicable for this business.

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