RYDE NYSE Services-Business Services, Nec Financials FY2021βFY2025
Ryde Group Ltd had $9.6M of revenue in fiscal 2025, up 42.8% on the year before.
Hi! I read Ryde Group Ltdβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+42.8%
Yes. Sales grew 42.8% last year.
Does it make a profit?
β139.5%
No. It lost money last year.
Does profit turn into cash?
β188.2%
No. It spent more cash than it brought in.
How healthy are the accounts?
2 / 7
Weak. It passes 2 of 7 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Ryde Group Ltd had $9.6M of revenue in fiscal 2025, up 42.8% on the year before. Its operating margin was β50.1%, up 43.0Β pts: of every 100 in sales, about β50 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
KIRA Β· Ryde Group Ltd lost $13.3M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$18.0M in fiscal 2025, β188.2% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Ryde Group Ltd can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | β | $2.2M | $1.3M | $4.0M | $3.9M |
| Interest coverage | β | β999.1x | β30.7x | β225.0x | β |
| Current ratio | β | 0.9x | 0.4x | 1.6x | 5.6x |
| Quick ratio | β | 0.9x | 0.4x | 1.6x | 5.6x |
| Total assets | β | $3.2M | $3.9M | $6.7M | $29.8M |
| Total liabilities | β | $7.0M | $9.6M | $3.8M | $4.9M |
| Shareholders' equity | β$0.1M | β$3.7M | β$5.6M | $2.9M | $24.8M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
KIRA Β· Ryde Group Ltd passes 2 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β |
| F-score | β / 3 | β / 4 | 1 / 7 | 3 / 7 | 2 / 7 |
| Accruals ratio | β | β25.2% | β234.1% | β98.0% | 25.5% |
| Altman Z'' | β | β18.61 | β33.78 | β19.26 | 3.92 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $4.6M | $6.4M | $6.5M | $6.7M | $9.6M |
| Operating income | β | β$3.6M | β$3.9M | β$6.2M | β$4.8M |
| Interest expense | $0.0M | $0.0M | $0.1M | $0.0M | β |
| Pretax income | β$0.9M | β$3.6M | β$9.6M | β$14.0M | β$13.4M |
| Income tax | β | β | β | β | β$0.0M |
| Net income | β$0.9M | β$3.6M | β$9.6M | β$14.0M | β$13.3M |
| Diluted EPS | β$0.08 | β$0.30 | β$0.74 | β$0.65 | β$0.31 |
| Diluted shares | 0.01B | 0.01B | 0.01B | 0.02B | 0.04B |
| Cash flow | |||||
| Cash from operations | β$0.1M | β$2.8M | β$1.2M | β$8.8M | β$18.0M |
| Capital expenditure | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Free cash flow | β$0.1M | β$2.8M | β$1.2M | β$8.8M | β$18.0M |
| Depreciation and amortization | $0.2M | $0.2M | $0.3M | $0.4M | $0.5M |
| Stock-based compensation | β | β | $5.2M | $7.7M | $8.5M |
| Balance sheet | |||||
| Cash and short-term investments | β | $2.2M | $1.3M | $4.0M | $3.9M |
| Current assets | β | $2.8M | $3.4M | $6.0M | $27.8M |
| Current liabilities | β | $3.2M | $9.5M | $3.8M | $4.9M |
| Property and equipment, net | β | $0.0M | $0.0M | $0.1M | $0.1M |
| Intangible assets | β | $0.4M | $0.5M | $0.5M | $0.6M |
| Total assets | β | $3.2M | $3.9M | $6.7M | $29.8M |
| Total liabilities | β | $7.0M | $9.6M | $3.8M | $4.9M |
| Shareholders' equity | β$0.1M | β$3.7M | β$5.6M | $2.9M | $24.8M |
| Margins | |||||
| Operating margin | β | β56.2% | β60.5% | β93.1% | β50.1% |
| EBITDA margin | β | β52.8% | β55.9% | β86.8% | β45.2% |
| Net margin | β19.9% | β56.2% | β148.5% | β208.7% | β139.5% |
| FCF margin | β2.2% | β43.7% | β18.6% | β131.4% | β188.2% |
| Returns | |||||
| Return on capital employed | β | β5,080.2% | 69.8% | β214.6% | β19.3% |
| Return on equity | β | β | β | β | β96.5% |
| Return on assets | β | β111.5% | β267.7% | β263.7% | β73.2% |
| Return on tangible equity | β | β | β | β589.7% | β55.3% |
| Growth | |||||
| Revenue growth | β | 38.8% | 0.8% | 3.8% | 42.8% |
| Share count change | β | 0.0% | 11.2% | 63.5% | 110.7% |
| Financial health | |||||
| Interest coverage | β | β999.1x | β30.7x | β225.0x | β |
| Current ratio | β | 0.9x | 0.4x | 1.6x | 5.6x |
| Quick ratio | β | 0.9x | 0.4x | 1.6x | 5.6x |
| Capital allocation | |||||
| Capex / revenue | 0.4% | 0.2% | 0.0% | 0.3% | 0.0% |
| Stock comp / revenue | β | β | 80.3% | 115.6% | 88.7% |
| Quality scores | |||||
| Piotroski F-score | β | β | 1.0 | 3.0 | 2.0 |
| Altman Z'' | β | β18.6 | β33.8 | β19.3 | 3.9 |
| Accruals ratio | β | β25.2% | β234.1% | β98.0% | 25.5% |
Source: SEC EDGAR XBRL filings (CIK 0001971115). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in SGD under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only β not investment advice. Check the original filings before relying on any figure.
