Grab Holdings Ltd

GRAB
About the company

Grab Holdings Limited operates the Grab superapp in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers delivery services on its platform, such as GrabFood, a food ordering and delivery booking service; Dine-Out for table reservations; GrabMart, a goods ordering and delivery booking service; GrabAds, an online advertising solution; GrabExpress, a package delivery booking service; Grab for Business platform, a unified management portal for corporate clients.

Country: SingaporePrice: $3.10Market Cap: $12.7B

Investment snapshot

19%positive consensus
Scored 37d ago

Positive

3

BUY / PASS

Neutral / negative

1 / 11

NEUTRAL / FAIL

Median fair value

$1.48

-52.2% vs price

Models with upside

0 / 16

Positive margin of safety

Strongest signal

7 of 11 pass — Buffett, Akre, Marks +1 more object

Key risk

No clean pass — all 15 investors flag at least one profitability criterion

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.
Scored from 10-K37d ago
MetricO'Shaughnessy

Systematic Factor Composite

Lynch

GARP

Buffett

Quality Compounder

Pabrai

Dhandho Framework

Akre

Three-Legged Stool

Schloss

Asset-Value Discipline

Neff

Low-P/E Total Return

Sleep

Scale Economies Shared

Templeton

Global Bargain Hunter

Marks

Risk-Aware Value

Munger

Quality Focus

Ackman

Activist Value

Dreman

Contrarian Value

Piotroski

F-Score

Greenblatt

Magic Formula

Graham

Defensive Value

VerdictNEUTRALFAILFAILFAILFAILFAILFAILFAILPASSFAILFAILPASSFAILPASSNot rankedFAIL
Score
Analysis
Intrinsic ValueN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of SafetyN/AN/A-209.5%-109.1%N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-107.7%
Data As Of10-K (2026-08-25)10-K (2026-08-25)10-K (2026-08-25)10-K (2026-08-25)10-K (2026-08-25)10-K (2026-08-24)10-K (2026-08-24)10-K (2026-08-23)10-K (2026-08-23)10-K (2026-08-23)10-K (2026-08-23)10-K (2026-08-23)10-K (2026-08-23)10-K (2026-08-23)10-K (2026-08-23)10-K (2026-08-23)

Where It Passes

  • Debt & Leverage64% pass✓ 10✗ 4▾

    7 of 11 pass — Buffett, Akre, Marks +1 more object

    Debt Levels0.31
    ✗AkreDebt/Equity < 0.3✓MungerDebt/Equity < 0.5
    Total Debt / Equity0.31
    ✓Lynch< 0.33
    Cash - Long-term Debt$3.1B
    ✓LynchPositive preferred
    Debt/Equity & Interest CoverageD/E: 0.31, IC: 0.9x
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / Shareholders' Equity0.31x
    ✓SchlossD/E < 1.00x✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓Dreman< 0.8
    Current Assets / Current Liabilities1.75x
    ✓SchlossCurrent ratio >= 1.50x (app cutoff)✓Dreman> 1.5
    Interest Coverage & Debt/EBITDAIC=0.9x, D/EBITDA=8.5x
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity0.31
    ✓Ackman<= 1.0
    LT Debt / Total Assets Change2.59% -> 3.11%
    ✗PiotroskiDecreased YoY
    LT Debt vs Net Current AssetsLT Debt $373.0M vs NCA $3.5B
    ✓GrahamLT Debt <= Net Current Assets

Where It Falls Short

  • Profitability0% pass✓ 6✗ 25▾

    No clean pass — all 15 investors flag at least one profitability criterion

    Net income / market capitalization+2.12%; #2509/6251 (top 40.1%)
    ✗OshaughnessyTop 10% of eligible cross-section
    Basic earnings-growth PEG (dividends excluded)P/E 51.6x (growth N/A)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    ROE4.0%
    ✗Lynch> 15%
    Net Income Positive (10+ years)1/8 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-14.9%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)1.9% (latest)
    ✓BuffettStable or rising over 10 years
    Free Cash Flow Proxy$348.0M
    ✓BuffettPositive and growing
    Earnings Variance (10-yr CoV)N/A (negative mean EPS)
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness
    ✗Buffett$1 retained -> > $1 market value created
    Margin of SafetyP/E=51.6x, P/B=1.9x
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity-1.5% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Positive Diluted-EPS Years1/7 years positive
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Revenue growth vs. gross and operating margin trendgross margin 36.5% -> 43.2%, operating margin -22.0% -> 1.9%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend-22.0% (2023) -> 1.9% (2025)
    ✓TempletonNon-negative operating-margin trend over 3 years
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency1/7 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue1.9%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity4.0%
    ✗Ackman>= 15%
    Pre-Tax Income / Revenue8.0%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity4.0%
    ✗Dreman> 12%
    Net Income / Total Assets2.24%
    ✓PiotroskiROA > 0
    ROA Change YoY-1.13% -> 2.24% (delta: +3.37%)
    ✓PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=0.66%, ROA=2.24%
    ✗PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY42.0% -> 43.2%
    ✓PiotroskiImproved YoY
    EBIT / Enterprise Value0.6%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=0.6%, ROC=None
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Positive EPS (10 years)1/8 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)N/A (negative base EPS)
    ✗Graham>= 33% growth
  • Valuation0% pass✓ 2✗ 24▾

    No clean pass — all 12 investors flag at least one valuation criterion

    Revenue / market capitalization+0.2661; #3341/5203 (top 64.2%)
    ✗OshaughnessyTop 10% of eligible cross-section
    Net income / market capitalization+2.12%; #2509/6251 (top 40.1%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization-0.14%; #2562/4487 (top 57.1%)
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date-15.44%; #4278/6203 (top 69.0%)
    ✗OshaughnessyTop 10% of eligible cross-section
    Basic earnings-growth PEG (dividends excluded)P/E 51.6x (growth N/A)
    ✗Lynch< 1.0 (ideally < 0.5)
    P/E or FCF YieldP/E=51.6x, FCF Yield=-0.1%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    Price / Book Value per Share1.88x
    ✗SchlossP/B <= 0.80x (app cutoff)✗Templeton< 1.5x✗Dreman< 1.2x
    Price / Tangible Book Value per Share1.88x
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Price / Diluted EPS51.6x
    ✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
    (EPS CAGR % + Dividend Yield %) / P/E
    ✗Neff> 0.7 (Neff's published traditional edge)
    Price / EPS51.6x
    ✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)✗Dreman< 12x
    Price vs. Trailing Low100% of trailing low ($3.10)
    ✓Templeton<= 120% of trailing low (certified split-adjusted live window)
    P/B or P/E vs. Historical AverageP/E=51.6x, P/B=1.9x
    ✓MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic ValueN/A (negative normalized EPS)
    ✗Marks>= 20% below intrinsic value
    Valuation ReasonablenessP/E=51.6x, OE Yield=2.7%
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    Price / FCF per ShareN/A (negative FCF)
    ✗Ackman<= 25
    Price / (CFO / Shares)160.3x
    ✗Dreman< 8x
    EBIT / Enterprise Value0.6%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=0.6%, ROC=None
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio1.9x
    ✗Graham<= 1.5x
    P/E x P/B
    ✗Graham<= 22.5
  • Valuation models0% pass✗ 3▾

    GRAB overvalued: all 3 models price fair value below $3.10 (median $1.48)

    Buffett fair value$1.00
    ✗Buffett-209.5% margin vs $3.10
    Pabrai fair value$1.48
    ✗Pabrai-109.1% margin vs $3.10
    Graham fair value$1.49
    ✗Graham-107.7% margin vs $3.10
  • Cash Flow10% pass✓ 2✗ 10▾

    9 of 10 flag GRAB's cash flow — Oshaughnessy, Lynch, Pabrai +6 more

    (Operating cash flow - capex) / market capitalization-0.14%; #2562/4487 (top 57.1%)
    ✗OshaughnessyTop 10% of eligible cross-section
    FCF Positive and Growing$-18.0M
    ✗LynchPositive and growing
    Free Cash Flow Proxy$348.0M
    ✓BuffettPositive and growing
    P/E or FCF YieldP/E=51.6x, FCF Yield=-0.1%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    Operating Cash Flow - Capital Expenditures$-18.0M
    ✗Neff> $0 (app proxy for a strong fundamental case)
    Positive Operating Cash Flow frequency3/7 years positive
    ✗SleepPositive OCF in >= 70% of available years
    FCF Positive2/4 years FCF positive
    ✗MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap-0.1%
    ✗Ackman>= 4%
    Price / FCF per ShareN/A (negative FCF)
    ✗Ackman<= 25
    Price / (CFO / Shares)160.3x
    ✗Dreman< 8x
    Operating Cash Flow$79.0M
    ✓PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=0.66%, ROA=2.24%
    ✗PiotroskiCFO/Assets > ROA
  • Growth13% pass✓ 4✗ 9▾

    7 of 8 flag GRAB's growth — Lynch, Neff, Sleep +4 more

    Basic earnings-growth PEG (dividends excluded)P/E 51.6x (growth N/A)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR
    ✗Lynch15-30% (Fast Grower); > 0% to pass
    Inventory Growth vs Revenue GrowthInv: 47.5% vs Rev: 20.5%
    ✗LynchInventory growth < Revenue growth
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Revenue growth vs. gross and operating margin trendgross margin 36.5% -> 43.2%, operating margin -22.0% -> 1.9%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR48.4%
    ✓SleepCAGR > 7%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Positive Net Income Frequency1/7 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth20.5%
    ✓Ackman>= 5%
    Positive EPS Growth Frequency5/5 years with positive EPS growth
    ✓AckmanPositive EPS growth in >= 3 of last 5 years
    EPS Growth Direction$-24.31 (2019) -> $0.06 (2025)
    ✓DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    EPS Growth (3-yr avg, 10-yr window)N/A (negative base EPS)
    ✗Graham>= 33% growth
  • Efficiency13% pass✓ 1✗ 10▾

    7 of 8 flag GRAB's efficiency — Buffett, Akre, Sleep +4 more

    ROIC (3-5 yr avg)-10.0%
    ✗Buffett> 10%
    ROIC - WACC-20.0%
    ✗BuffettPositive (WACC = 10%)
    ROIC (high and growing)FY2023: ROIC=-5.7%; FY2024: ROIC=-2.0%; FY2025: ROIC=0.6%
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROIC0.6% (RR=100% x ROIC=0.6%)
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)0/5 years above 12% (latest 0.6%)
    ✗SleepROIC > 12% in a majority of years
    Return on Invested Capital0.6%
    ✗Munger> 15%
    Current Assets / Current Liabilities1.75
    ✓Dreman> 1.5
    Current Ratio Change YoY2.53 -> 1.75
    ✗PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.30x -> 0.28x
    ✗PiotroskiImproved YoY
    EBIT / (NWC + Net Fixed Assets)
    ✗Greenblatt> 25%
    Current Ratio1.75
    ✗Graham>= 2.0
  • Verdicts21% pass✓ 3✗ 11▾

    Split decision: 11 FAIL · 3 PASS · 1 NEUTRAL

    Overall verdict
    •OshaughnessyNEUTRAL (Not ranked)✗LynchFAIL (2/7)✗BuffettFAIL (2/9)✗PabraiFAIL (0/3)✗AkreFAIL (1/6)✗SchlossFAIL (2/7)✗NeffFAIL (1/6)✗SleepFAIL (2/6)✓TempletonPASS (4/8)✗MarksFAIL (1/5)✗MungerFAIL (1/4)✓AckmanPASS (5/9)✗DremanFAIL (4/11)✓PiotroskiPASS (F-Score 4)•GreenblattNot ranked✗GrahamFAIL (2/9)

Business & financials

Company Profile

Industry: Business Services
Size: Large Cap($12.7B)
Revenue: $3.4B+20.5% YoY
Net Income: $268.0M+355.2% YoY

Financial Snapshot

Operating Margin1.9%
Return on Equity4.0%
Debt / Equity0.31
Current Ratio1.75
EPS (Diluted)$0.06
Buybacks (1y)$274.0M
Buybacks (2y)$500.0M
Shares Retired−2.4% / −5.1% 2y

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Shareholder Return

Fiscal 2025

Issued 2.4% of shares last year, 5.1% issued over two.

Buybacks
$274.0M
Dividends
—

Company Financials

Annual data (10-K) · Last 5 years

MetricFY 2025FY 2024FY 2023FY 2022FY 2021
Market Cap$12.7B$18.3Best.$12.0Best.$14.5Best.$3.1Best.
Revenue$3.4B↑20%$2.8B↑19%$2.4B↑65%$1.4B↑112%$675.0M
Operating Income$65.0M↑139%-$168.0M↑68%-$519.0M↑62%-$1.4B↑12%-$1.6B
Net Income$268.0M↑355%-$105.0M↑76%-$434.0M↑74%-$1.7B↑51%-$3.4B
EPS (Diluted)$0.06↑300%$-0.03↑73%$-0.11↑75%$-0.44↑93%$-6.39
Gross Margin43.2%↑3%42.0%↑15%36.5%↓62%95.3%↑263%-58.5%
Operating Margin1.9%↑132%-6.0%↑73%-22.0%↑77%-95.8%↑58%-230.4%
ROE4.0%↑343%-1.6%↑76%-6.7%↑74%-25.5%↑43%-44.6%
Total Debt$2.1B↑464%$364.0M↓54%$793.0M↓42%$1.4B↓37%$2.2B
Shareholders' Equity$6.7B↑5%$6.4B↓1%$6.4B↓2%$6.6B↓15%$7.7B
Current Ratio1.75↓31%2.53↓35%3.90↓25%5.19↓39%8.46
Debt / Equity0.31↑436%0.06↓54%0.12↓41%0.21↓27%0.28
Operating Cash Flow$79.0M↓91%$852.0M↑891%$86.0M↑111%-$798.0M↑16%-$954.0M
Free Cash Flow-$18.0M↓102%$775.0M↑5067%$15.0M↑102%-$856.0M--

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Business Services

GRAB vs Peers — Financial Grading

Revenue$3.4BMedian
Net Income$268.0MMedian
ROE4.0%Bottom 25%
D/E0.31Top 25%
Op. Margin1.9%Bottom 25%
Curr. Ratio1.75Top 25%
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
Mastercard IncMA$514.8B$568.26$32.8B$15.0B193.5%2.4657.6%1.032/95/94/70/3F-Score 83/11
AUTOMATIC DATA PROCESSING INCADP$103.7B$261.80$21.9B$4.4B73.2%0.8224.2%1.054/95/93/70/3F-Score 65/11
ELECTRONIC ARTS INC.EA$52.9B$209.70$7.5B$887.0M13.1%0.2215.4%1.051/94/93/70/3F-Score 66/11
PAYCHEX INCPAYX$35.4B$99.31$6.5B$1.8B47.1%1.2238.6%1.264/96/94/71/3F-Score 76/11
Rubrik, Inc.RBRK$23.4B$113.80$1.3B$348.8M67.1%—-26.2%1.691/90/90/70/3F-Score 42/11
COMMVAULT SYSTEMS INCCVLT$6.1B$148.08$1.2B$70.7M942.8%—6.3%1.951/92/94/70/3F-Score 65/11
ROBERT HALF INC.RHI$3.8B$36.88$5.4B$133.0M10.4%—1.4%1.534/95/91/70/3F-Score 54/11
CSG SYSTEMS INTERNATIONAL INCCSGS$2.3B$80.04$1.2B$55.9M19.7%1.909.7%1.441/93/94/71/3F-Score 64/11