All Q2 FY26 results →

GH

Grab Holdings Limited

Q2 FY26Ground Transportation

Grab Holdings Limited Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹4

Market cap₹14.5K Cr

P/E89.8

Updated29 May 2026

Read4 min read

Grab Holdings Limited Q2 FY26 key numbers

Revenue: Financial Services loan disbursals grew 67% year-on-year to over $1 billion, with expectations to breakeven on adjusted EBITDA in H2 2026.

As stated in Grab Holdings Limited's Q2 FY26 earnings call transcript · published 29 May 2026. Reported figures, not investment advice.

The short version

- Grab’s on-demand GMV growth accelerated to 24% year-on-year in Q1 2026. - Grab delivered its 17th consecutive quarter of adjusted EBITDA growth, with trailing 12-month adjusted free cash flow expanding to $489 million.

From Grab Holdings Limited's Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Good growth

Grab’s on-demand GMV growth accelerated to 24% year-on-year in Q1 2026.
Group monthly transacting users (MTUs) increased to 52 million, indicating expanding customer base.
Financial Services loan disbursals grew 67% year-on-year to over $1 billion, with expectations to breakeven on adjusted EBITDA in H2 2026.
Mobility transactions grew 28% year-on-year, outpacing GMV growth, driven by AI-powered tools.
GrabMart (grocery delivery) is growing 1.7x faster than food deliveries, with strong MTU growth and higher basket sizes; expected to contribute significantly to delivery GMV by 2028.
The company targets a $2 billion loan book by end of 2026.

2 more points from Grab Holdings Limited's call on revenue

Create a free account to keep reading this call

Profitability & Margins

Grab delivered its 17th consecutive quarter of adjusted EBITDA growth, with trailing 12-month adjusted free cash flow expanding to $489 million.
Financial Services segment is on track to achieve adjusted EBITDA breakeven in the second half of 2026.
Revenue growth in Financial Services accelerated 43% YoY, with over one-third of incremental revenue dropping to the bottom line, showing strong operating leverage.
The company reiterates full-year 2026 guidance of group revenue between $4.04 billion and $4.10 billion, and adjusted EBITDA of $700 million to $720 million.
First quarter provided a strong foundation; incentives related to fuel costs peaked in Q1 and should normalize, supporting margin stabilization.

2 more points from Grab Holdings Limited's call on margins

Create a free account to keep reading this call

See what Grab Holdings Limited said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned

Grab is making a conscious investment in AI infrastructure, including tokenization stack and cloud capacity, to power AI-powered product features and enhance marketplace efficiency (Page 6).
Small investments have been made ahead of the curve in autonomous vehicles (AVs) technology and partnerships, focusing on pilot programs in Singapore with plans to scale in partnership with regional governments (Page 2).
Strategic capital allocation remains highly disciplined, evaluated strictly through the lens of long-term shareholder value and diversification of the Grab business (Page 5).

2 more points from Grab Holdings Limited's call on capex

Create a free account to keep reading this call

Fundraising & Capital Structure

No immediate plans for new fundraising through deposits as Grab is currently managing deposit levels carefully to optimize P&L.
Grab has sufficient trust from consumers to raise deposits if needed, but they avoid excess deposits given the current yield curve environment.
The company is focusing on scaling lending through digital banks with existing deposits (~$1.6 billion) and expects to reach a $2 billion loan book by year-end.

2 more points from Grab Holdings Limited's call on fundraising

Create a free account to keep reading this call

See what Grab Holdings Limited said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Order book rising

Relevant operational insights include: - Mobility transactions grew 28% YoY, with driver partners using AI tools seeing earnings uplift. - Deliveries business maintains record high daily transacting users as of April. - Group orders GMV increased 74% YoY. - GrabMart (grocery delivery) is growing 1.7x faster than food delivery.

2 more points from Grab Holdings Limited's call on order book

Create a free account to keep reading this call

What the Q2 FY26 call signalled

3 of 4 strong

RevenueGood growth

MarginMargins steady

CapexCapex planned

Order bookOrder book rising

Others in Ground Transportation this season

Knight-Swift Transportation Holdings Inc. (Q2 FY26)
Knight-Swift Transportation Holdings Inc. Q2 FY26 quarterly results analysis. Truckload volumes show improving demand, with tonnage up 1.6% (Jan), 2.6% (Feb), a
Saia, Inc. (Q2 FY26)
Saia, Inc. Q2 FY26 quarterly results analysis. Legacy facilities showed growth for the first time in about five quarters, indicating improved demand. Market Cap
TFI International Inc. (Q2 FY26)
TFI International Inc. Q2 FY26 quarterly results analysis. Expect organic growth in LTL (less-than-truckload) segment in Q2 2026 compared to Q2 2025, including
XPO, Inc. (Q2 FY26)
XPO, Inc. Q2 FY26 quarterly results analysis. The company anticipates accelerating momentum in volumes and sales throughout 2026, with volume tracking in line w

Compare:vs Union Pacific Corporation vs Uber Technologies, Inc.vs CSX Corporation

🔎 Who's planning the most growth?

Companies ranked by management's own guidance — revenue, margins, capex and order book, from every earnings call in India.

See rankings →

Arthneeti Pro · Annual

Grab Holdings Limited and 15K+ more earnings calls,
for less than your morning chai

a day

Every earnings call, ranking and concall Q&A across all four results seasons.

Secure Razorpay payment · instant access

Frequently Asked Questions

What were Grab Holdings Limited Q2 FY26 results?

- Grab’s on-demand GMV growth accelerated to 24% year-on-year in Q1 2026. - Grab delivered its 17th consecutive quarter of adjusted EBITDA growth, with trailing 12-month adjusted free cash flow expanding to $489 million.

What is Grab Holdings Limited share price analysis?

Grab Holdings Limited currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 89.8 with a market cap of $14,516. Investors should review the full earnings analysis for detailed insights.

Is Grab Holdings Limited planning capital expenditure?

- Grab is making a conscious investment in AI infrastructure, including tokenization stack and cloud capacity, to power AI-powered product features and enhance marketplace efficiency (Page 6).

Keep Grab Holdings Limited on your radar — track it to get its next earnings analysis in your feed.

This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.