Added to YB: 2026-06-08
Pitch date: 2026-06-05
GRAB [neutral]
Grab Holdings Limited
Author Info
No bio for this author
Company Info
Grab Holdings Limited operates the Grab superapp in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
Market Cap
$13.7B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
28.87
P/E
85.87
EV/Sales
2.58
Sector
Ground Transportation
Category
N/A
Grab: Not as cash-generative as you think
GRAB (pass): Passing at $3.41, $13.9B mkt cap, 33x NTM P/E. Adj FCF of $290M (2025) overstates cash gen—deducting SBC (employee financing) yields true FCF of just $49M (-83%). Weak pricing power despite ~55% SEA food delivery share; take-rate plateaued vs UBER's rising rates. Price-sensitive consumers, fierce competition, regulatory pressure (Indonesia capping 2W commissions 20%→8%) constrain monopoly. Still, CEO Anthony Tan's strong fundraising (zero-coupon $1.5B converts) means biz likely does well.
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