(AIY) iFAST Pte - SG
Sector: Technology | Industry: Software - Application | Exchange: SG (Singapore) | Market Cap: 2.742m SGD | Total Return: 41.9% in 12m
Avg Turnover: 6.08M
EPS Trend: 93.5%
Qual. Beats: -1
Rev. Trend: 98.9%
Qual. Beats: 1
Warnings
Choppy
Tailwinds
No distinct edge detected
iFAST Corporation Ltd. is a Singapore-based wealth management and digital banking platform operating across Asia and the United Kingdom. The company utilizes a B2B2C and B2C business model, providing a vertically integrated suite of services including investment product distribution, pension administration, and global banking connectivity. Its core infrastructure supports self-directed investors through FSMOne and financial advisers via iFAST Central.
The wealth management platform industry relies heavily on Assets Under Administration (AUA) as a primary driver of recurring fee income. By integrating a licensed digital bank into its ecosystem, iFAST aims to capture the full life cycle of client assets, from cash deposits to diversified investment holdings. The company has recently expanded into pension administrative services, a sector characterized by long-term contracts and high regulatory barriers to entry.
To better understand how these revenue streams impact long-term valuation, you may find it useful to examine the fundamental data on ValueRay. iFAST continues to invest in automation through its Global HUB.AI division to streamline operational support and scale its fintech solutions for institutional clients.
- Hong Kong ePension contract execution drives high-margin recurring revenue growth
- iFAST Global Bank customer deposit growth scales digital banking profitability
- Assets Under Administration expansion in Singapore and Malaysia boosts platform fees
- Regulatory shifts in wealth management commissions impact core brokerage margins
| Net Income: 102.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.19 > 0.02 and ΔFCF/TA -10.64 > 1.0 |
| NWC/Revenue: 34.46% < 20% (prev 61.27%; Δ -26.81% < -1%) |
| CFO/TA 0.21 > 3% & CFO 551.7m > Net Income 102.1m |
| Net Debt (-300.1m) to EBITDA (187.5m): -1.60 < 3 |
| Current Ratio: 1.09 > 1.5 & < 3 |
| Outstanding Shares: last quarter (304.7m) vs 12m ago 2.26% < -2% |
| Gross Margin: 56.08% > 18% (prev 54.32%; Δ 1.77% > 0.5%) |
| Asset Turnover: 22.07% > 50% (prev 18.02%; Δ 4.05% > 0%) |
| Interest Coverage Ratio: 2.93 > 6 (EBIT TTM 153.2m / Interest Expense TTM 52.4m) |
| A: 0.07 (Total Current Assets 2.05b - Total Current Liabilities 1.87b) / Total Assets 2.69b |
| B: 0.08 (Retained Earnings 212.0m / Total Assets 2.69b) |
| C: 0.07 (EBIT TTM 153.2m / Avg Total Assets 2.33b) |
| D: 0.19 (Book Value of Equity 427.9m / Total Liabilities 2.26b) |
| Altman-Z'' = 1.33 = BB |
| DSRI: 1.07 (Receivables 574.6m/370.9m, Revenue 515.0m/356.4m) |
| GMI: 0.97 (GM 54.32% / 56.08%) |
| AQI: 1.65 (AQ_t 0.21 / AQ_t-1 0.13) |
| SGI: 1.45 (Revenue 515.0m / 356.4m) |
| TATA: -0.17 (NI 102.1m - CFO 551.7m) / TA 2.69b) |
| Beneish M = -2.31 (Cap -4..+1) = BBB |
As of June 19, 2026, the stock is trading at SGD 9.13 with a total of 855,900 shares traded.
Over the past week, the price has changed by +4.82%,
over one month by +6.33%,
over three months by +2.70% and
over the past year by +41.90%.
iFAST Pte has no consensus analysts rating.
P/E Trailing = 25.7143
P/E Forward = 21.4592
P/S = 4.8771
P/B = 6.4083
P/EG = 1.1788
Revenue TTM = 515.0m SGD
EBIT TTM = 153.2m SGD
EBITDA TTM = 187.5m SGD
Long Term Debt = 218.6m SGD (from longTermDebt, last quarter)
Short Term Debt = 17.0m SGD (from shortLongTermDebt, last quarter)
Debt = 50.4m SGD (Leases only: 50.4m)
Net Debt = -300.1m SGD (calculated: Debt 50.4m - CCE 350.5m)
Enterprise Value = 2.44b SGD (2.74b + Debt 50.4m - CCE 350.5m)
Interest Coverage Ratio = 2.93 (Ebit TTM 153.2m / Interest Expense TTM 52.4m)
EV/FCF = 4.69x (Enterprise Value 2.44b / FCF TTM 520.6m)
FCF Yield = 21.32% (FCF TTM 520.6m / Enterprise Value 2.44b)
FCF Margin = 101.1% (FCF TTM 520.6m / Revenue TTM 515.0m)
Net Margin = 19.81% (Net Income TTM 102.1m / Revenue TTM 515.0m)
Gross Margin = 56.08% ((Revenue TTM 515.0m - Cost of Revenue TTM 226.2m) / Revenue TTM)
Gross Margin QoQ = 51.33% (prev 44.41%)
Tobins Q-Ratio = 0.91 (Enterprise Value 2.44b / Total Assets 2.69b)
Interest Expense / Debt = 104.0% (Interest Expense 52.4m / Debt 50.4m)
Taxrate = 15.19% (18.3m / 120.2m)
NOPAT = 129.9m (EBIT 153.2m * (1 - 15.19%))
Current Ratio = 1.09 (Total Current Assets 2.05b / Total Current Liabilities 1.87b)
Debt / Equity = 0.12 (Debt 50.4m / totalStockholderEquity, last quarter 427.9m)
Debt / EBITDA = -1.60 (Net Debt -300.1m / EBITDA 187.5m)
Debt / FCF = -0.58 (Net Debt -300.1m / FCF TTM 520.6m)
Total Stockholder Equity = 378.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.37% (Net Income 102.1m / Total Assets 2.69b)
RoE = 26.99% (Net Income TTM 102.1m / Total Stockholder Equity 378.1m)
RoCE = 25.67% (EBIT 153.2m / Capital Employed (Equity 378.1m + L.T.Debt 218.6m))
RoIC = 16.41% (NOPAT 129.9m / Invested Capital 791.8m)
WACC = 8.70% (E(2.74b)/V(2.79b) * Re(8.86%) + (debt cost/tax rate unavailable))
Discount Rate = 8.86% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.11 | Cagr: 3.25%
[DCF] Terminal Value 72.30% ; FCFF base≈549.6m ; Y1≈495.0m ; Y5≈421.8m
[DCF] Fair Price = 21.85 (EV 6.36b - Net Debt -300.1m = Equity 6.66b / Shares 304.7m; r=8.70% [WACC]; 5y FCF grow -12.24% → 2.50% )
EPS Correlation: 93.48 | EPS CAGR: 110.3% | SUE: -1.09 | # QB: -1
Revenue Correlation: 98.94 | Revenue CAGR: 41.66% | SUE: 1.62 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.09 | Chg30d=-14.21% | Revisions=-20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.10 | Chg30d=-6.84% | Revisions=-20% | Analysts=1
EPS current Year (2026-12-31): EPS=0.41 | Chg30d=+0.00% | Revisions=-14% | GrowthEPS=+27.3% | GrowthRev=+16.8%
EPS next Year (2027-12-31): EPS=0.50 | Chg30d=+0.00% | Revisions=-14% | GrowthEPS=+20.1% | GrowthRev=+13.9%
[Analyst] Revisions Ratio: -20%