Grab vs Lyft
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The short version
- Lyft is the larger business, with $6.3B of revenue in fiscal 2025 against $3.4B for Grab, about 1.9 times as much.
- Grab grew revenue faster (20.5%, against 9.2%).
- Grab kept more of each dollar of sales as operating profit (1.9% operating margin, against β3.0%).
- Grab earned a higher return on the capital invested in it (0.9%, against β12.3%).
| Latest fiscal year | GRAB Β· FY25 | LYFT Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.7B | $6.5B |
| Revenue | $3.4B | $6.3B |
| Free cash flow | β$18.0M | β |
| Net income | $268M | $2.8B |
| Growth | ||
| Revenue growth | 20.5% | 9.2% |
| 5-year growth | 48.4% | 21.7% |
| Share count change | 5.3% | 1.0% |
| Profitability | ||
| Gross margin | 43.2% | 41.5% |
| Operating margin | 1.9% | β3.0% |
| Net margin | 8.0% | 45.0% |
| FCF margin | β0.5% | β |
| Return on capital | 0.9% | β12.3% |
| Return on equity | 4.1% | 140.8% |
| Balance sheet | ||
| Net debt | $300M | β$709M |
| Net debt / EBITDA | 1.2x | β |
| Dividends and buybacks | $274M | $500M |
| Valuation & quality | ||
| P/E | β | 2.5x |
| Piotroski F-score | 5 | 4 |
FY17
GRAB β
LYFT $1.1B
FY18
GRAB β
LYFT $2.2B
FY19
GRAB β$845M
LYFT $3.6B
FY20
GRAB $469M
LYFT $2.4B
FY21
GRAB $675M
LYFT $3.2B
FY22
GRAB $1.4B
LYFT $4.1B
FY23
GRAB $2.4B
LYFT $4.4B
FY24
GRAB $2.8B
LYFT $5.8B
FY25
GRAB $3.4B
LYFT $6.3B
GRAB
LYFT
FY17
GRAB β
LYFT β66.8%
FY18
GRAB β
LYFT β45.3%
FY19
GRAB 356.2%
LYFT β74.7%
FY20
GRAB β276.8%
LYFT β76.5%
FY21
GRAB β230.4%
LYFT β35.4%
FY22
GRAB β95.8%
LYFT β35.6%
FY23
GRAB β22.0%
LYFT β10.8%
FY24
GRAB β6.0%
LYFT β2.1%
FY25
GRAB 1.9%
LYFT β3.0%
GRAB
LYFT
FY17
GRAB β
LYFT β
FY18
GRAB β
LYFT β
FY19
GRAB β
LYFT β
FY20
GRAB β
LYFT β
FY21
GRAB β
LYFT β
FY22
GRAB β$856M
LYFT β
FY23
GRAB $15.0M
LYFT β
FY24
GRAB $775M
LYFT β
FY25
GRAB β$18.0M
LYFT β
GRAB
LYFT
FY17
GRAB β
LYFT β
FY18
GRAB β
LYFT β
FY19
GRAB β
LYFT β
FY20
GRAB β
LYFT β
FY21
GRAB β
LYFT β
FY22
GRAB β18.8%
LYFT β
FY23
GRAB β7.9%
LYFT β
FY24
GRAB β3.3%
LYFT β
FY25
GRAB 0.9%
LYFT β12.3%
GRAB
LYFT
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.