Grab Holdings (GRAB) – Turnaround Phase Begins

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Grab appears to be entering a clear turnaround phase based on its latest financials. Revenue continues to grow, and more importantly, the company has achieved positive EBITDA and Free Cash Flow (FCF) for the first time in 2024.


Key Highlights
  • Revenue growth: $675M (2021) → $2.8B (2024 TTM), 4x increase
  • EBITDA turns positive: from -$1.5B to +$93M
  • Operating Cash Flow (OCF) turns positive: +$852M
  • Free Cash Flow (FCF) positive: +$739M
  • Net debt significantly reduced: $2.18B$364M
  • Cash position strong: $2.96B in cash & equivalents



Risks & Watch Points
  • Net income remains negative: -$105M
  • Equity is decreasing, potentially limiting future investment flexibility
  • Highly sensitive to macro risks (pandemic, recession)
  • Fintech division (GXS Bank) growth may bring credit risk


Grab is expected to begin realizing its profit-generating potential starting this year

The recent weekly candle tested the previous structure and could serve as a key reference point for trading.
Nota
Alternative Scenario :
The price drops to the previous low area and then rebounds.


If the previous low is clearly broken, this bullish scenario becomes invalid

Penafian

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