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Side-by-side financial comparison of Grab Holdings Ltd (GRAB) and KeyCorp (KEY). Click either name above to swap in a different company.
KeyCorp is the larger business by last-quarter revenue ($1.9B vs $1.5B, roughly 1.3× Grab Holdings Ltd). KeyCorp runs the higher net margin — 26.8% vs 1.8%, a 25.1% gap on every dollar of revenue.
Grab Holdings Inc. is a Singaporean multinational technology company headquartered in one-north, Singapore. It is the developer of a super-app for ride-hailing, food delivery, and digital payment services on mobile devices. It operates in Singapore, Malaysia, Cambodia, Indonesia, Myanmar, the Philippines, Thailand, and Vietnam.
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
GRAB vs KEY — Head-to-Head
Income Statement — Q4 FY2024 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $1.9B |
| Net Profit | $26.0M | $522.0M |
| Gross Margin | 43.1% | — |
| Operating Margin | -2.5% | — |
| Net Margin | 1.8% | 26.8% |
| Revenue YoY | — | 10.2% |
| Net Profit YoY | — | 28.9% |
| EPS (diluted) | $0.01 | $0.44 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $1.9B | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | $1.5B | $865.0M | ||
| Q3 24 | — | $695.0M | ||
| Q2 24 | — | $1.5B |
| Q1 26 | — | $522.0M | ||
| Q4 25 | — | $510.0M | ||
| Q3 25 | — | $489.0M | ||
| Q2 25 | — | $425.0M | ||
| Q1 25 | — | $405.0M | ||
| Q4 24 | $26.0M | $-244.0M | ||
| Q3 24 | — | $-410.0M | ||
| Q2 24 | — | $274.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 43.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 32.3% | ||
| Q3 25 | — | 31.8% | ||
| Q2 25 | — | 29.3% | ||
| Q1 25 | — | 29.0% | ||
| Q4 24 | -2.5% | -92.6% | ||
| Q3 24 | — | -72.8% | ||
| Q2 24 | — | 22.0% |
| Q1 26 | — | 26.8% | ||
| Q4 25 | — | 25.4% | ||
| Q3 25 | — | 25.8% | ||
| Q2 25 | — | 23.1% | ||
| Q1 25 | — | 22.8% | ||
| Q4 24 | 1.8% | -54.7% | ||
| Q3 24 | — | -59.0% | ||
| Q2 24 | — | 18.0% |
| Q1 26 | — | $0.44 | ||
| Q4 25 | — | $0.43 | ||
| Q3 25 | — | $0.41 | ||
| Q2 25 | — | $0.35 | ||
| Q1 25 | — | $0.33 | ||
| Q4 24 | $0.01 | $-0.30 | ||
| Q3 24 | — | $-0.47 | ||
| Q2 24 | — | $0.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.0B | $11.8B |
| Total DebtLower is stronger | — | $10.9B |
| Stockholders' EquityBook value | $6.4B | $20.0B |
| Total Assets | $9.3B | $188.7B |
| Debt / EquityLower = less leverage | — | 0.54× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $11.8B | ||
| Q4 25 | — | $10.2B | ||
| Q3 25 | — | $13.3B | ||
| Q2 25 | — | $11.6B | ||
| Q1 25 | — | $15.3B | ||
| Q4 24 | $3.0B | $17.5B | ||
| Q3 24 | — | $22.8B | ||
| Q2 24 | — | $15.5B |
| Q1 26 | — | $10.9B | ||
| Q4 25 | — | $9.9B | ||
| Q3 25 | — | $10.9B | ||
| Q2 25 | — | $12.1B | ||
| Q1 25 | — | $12.4B | ||
| Q4 24 | — | $12.1B | ||
| Q3 24 | — | $15.7B | ||
| Q2 24 | — | $16.9B |
| Q1 26 | — | $20.0B | ||
| Q4 25 | — | $20.4B | ||
| Q3 25 | — | $20.1B | ||
| Q2 25 | — | $19.5B | ||
| Q1 25 | — | $19.0B | ||
| Q4 24 | $6.4B | $18.2B | ||
| Q3 24 | — | $16.9B | ||
| Q2 24 | — | $14.8B |
| Q1 26 | — | $188.7B | ||
| Q4 25 | — | $184.4B | ||
| Q3 25 | — | $187.4B | ||
| Q2 25 | — | $185.5B | ||
| Q1 25 | — | $188.7B | ||
| Q4 24 | $9.3B | $187.2B | ||
| Q3 24 | — | $189.8B | ||
| Q2 24 | — | $187.4B |
| Q1 26 | — | 0.54× | ||
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.54× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.93× | ||
| Q2 24 | — | 1.14× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $591.0M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 22.73× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $396.0M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $-140.0M | ||
| Q4 24 | $591.0M | $664.0M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | — | $-217.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $367.0M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $-150.0M | ||
| Q4 24 | — | $599.0M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | — | $-230.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 104.8% | ||
| Q3 25 | — | 19.4% | ||
| Q2 25 | — | 65.8% | ||
| Q1 25 | — | -8.5% | ||
| Q4 24 | — | 69.2% | ||
| Q3 24 | — | -175.8% | ||
| Q2 24 | — | -15.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.33× | ||
| Q3 25 | — | 0.81× | ||
| Q2 25 | — | 2.90× | ||
| Q1 25 | — | -0.35× | ||
| Q4 24 | 22.73× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.79× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRAB
Segment breakdown not available.
KEY
| Net Interest Income | $1.2B | 63% |
| Noninterest Income | $723.0M | 37% |
