SINGAPORE, September 3, 2026, 02:23 (SGT) — Grab shares gained 0.9% as its $750 million share buyback moved ahead following a decline after earnings.
- Shares of Grab Holdings Limited NASDAQ:GRAB were up 0.9% at $3.49 as of 14:15 EDT.
- The stock was still trading 6.2% below its closing level after results on August 4.
- A $750 million repurchase represents 5.3% of the present market capitalization.
- Adjusted free cash flow for the quarter stood at $73 million, compared to a reported profit of $235 million.
Grab shares gained slightly on Wednesday, but the gap from post-earnings persisted. The stock was up 0.9% at $3.49 as of 14:15 EDT, still 6.2% lower than its August 4 closing level.
The discrepancy puts Grab’s recent $750 million buyback initiative to the test. That amount represents roughly 5.3% of its $14.28 billion market capitalization. However, its trailing adjusted free cash flow produces a yield of just 3.2%.
Grab intraday price
Source: Yahoo Finance five-minute data. Labels show observed prices, not a live stream.
Business performance outpaced what the stock chart indicates. Revenue for the second quarter climbed 22% to $997 million. Gross merchandise value for on-demand services jumped 21% to $6.5 billion.
Adjusted EBITDA rose by 54% to $168 million. The company’s revenue margin improved to 16.9% from 13.3%. Chief Executive Anthony Tan said, “We delivered another strong quarter.” Monthly transacting users totaled 54 million.
Q2 growth widened beyond core bookings
Year-over-year change; common scale runs from 0% to 200%
Source: Grab Q2 2026 results, reported August 4. Measures have different bases.
Growth led to an increased support bill, with total incentives amounting to $706 million. On-demand incentives climbed by 72 basis points to 10.9% of GMV. Grab attributed this to driver support amid higher fuel prices.
Mobility revenue climbed 12% to $331 million, while Mobility GMV was up 18% at $2.21 billion. Segment EBITDA, however, dropped nine basis points to 8.6% of GMV.
Financial services posted stronger growth but continued to generate losses. Revenue surged 59% to $134 million. Adjusted EBITDA for the segment narrowed to a loss of $15 million, compared to the previous $26 million loss.
The expansion gained momentum with the consolidation of PT Super Bank Indonesia Tbk IDX:SUPA. Gross loans rose 197% to $2.3 billion. Grab reported its portfolio still doubled when excluding Superbank.
Profit figures require scrutiny. Grab posted net income of $235 million, which factors in a $307 million Superbank remeasurement gain. Operating cash flow totaled $56 million. Adjusted free cash flow stood at $73 million.
Profit and cash measures diverged
Q2 2026, USD millions; bars share a $320 million scale
Source: Grab Q2 2026 results. These are reported measures, not a reconciliation.
The balance sheet provides flexibility for management. Gross cash liquidity stood at $7.4 billion, while net cash liquidity reached $5.4 billion. By July, Grab had finished $351 million in previous buybacks.
Analysts maintain a positive outlook. Of 26 analysts surveyed by S&P Global, 21 gave Grab a strong buy rating, while five recommended buying. The consensus price target was $5.86.
Analyst recommendations and target range
Source: S&P Global consensus via StockAnalysis, retrieved September 2. Targets are estimates, not outcomes.
Risks: Increased fuel support could sustain high incentives. Rapid loan expansion lifts credit costs. Integration risks are heightened by Superbank and Stash. Fair-value changes may also impact reported profit.
The following assessment concerns cash conversion. Grab anticipates adjusted EBITDA for this year between $720 million and $740 million. Investors remain reliant on this expansion translating into free cash flow.
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