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iFAST Corporation Ltd
(SGX:AIY)
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Rating:62Neutral
Price Target:
S$8.50
▼(-5.56% Downside)
Action:Reiterated
Date:10/29/26
The score is driven primarily by strong financial performance (fast growth and solid profitability), partially offset by weaker recent cash flow quality and increasing leverage. Technical indicators are notably bearish (below major moving averages with negative MACD), while valuation is fair with a moderate P/E and modest yield.
Positive Factors
Revenue Growth
Exceptional top-line expansion indicates strong platform adoption and increasing business scale. If growth remains supported by client, account, and asset expansion, iFAST can broaden its recurring fee base and create operating leverage across its investment and wealth-management infrastructure.
Negative Factors
Rising Leverage
Higher leverage increases financial risk and reduces flexibility if earnings or cash generation become more volatile. Although equity and assets have expanded, the faster increase in debt could raise financing costs and constrain future investment or capital allocation choices.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Exceptional top-line expansion indicates strong platform adoption and increasing business scale. If growth remains supported by client, account, and asset expansion, iFAST can broaden its recurring fee base and create operating leverage across its investment and wealth-management infrastructure.
Read all positive factors
iFAST Corporation Ltd (AIY) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$2.36B
Dividend Yield1.34%
Average Volume (3M)1.04M
Price to Earnings (P/E)18.8
Beta (1Y)0.81
Revenue Growth35.49%
EPS Growth40.68%
CountrySG
Employees3,554
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.41
Shares Outstanding306,759,860
10 Day Avg. Volume993,070
30 Day Avg. Volume1,036,626
Financial Highlights & Ratios
PEG Ratio0.58
Price to Book (P/B)7.23
Price to Sales (P/S)6.46
P/FCF Ratio5.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$12.58Price Target Upside39.72% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.42
Revenue Forecast (FY)S$638.72M
iFAST Corporation Ltd Business Overview & Revenue Model
Company Description
iFAST Corporation Ltd., founded in Singapore in 2000, offers investment products and services across Singapore, Hong Kong, Malaysia, and China. The company's operations are structured into Business-to-Business (B2B), Business-to-Consumer (B2C), an...
How the Company Makes Money
iFAST makes money mainly by operating investment and wealth-platform services and earning recurring, transaction-linked, and service-based fees from assets and activity processed on its platforms. Key revenue streams typically include: (1) Platfor...
iFAST Corporation Ltd Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
74
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 595.67M | 445.32M | 339.48M | 256.54M | 205.31M | 216.20M |
| Gross Profit | 291.92M | 202.84M | 155.78M | 110.85M | 115.42M | 113.22M |
| EBITDA | 231.26M | 204.00M | 143.24M | 67.12M | 32.77M | 54.79M |
| Net Income | 123.13M | 100.01M | 66.63M | 28.27M | 6.42M | 30.63M |
Balance Sheet | ||||||
| Total Assets | 3.14B | 2.43B | 1.70B | 832.90M | 458.54M | 224.85M |
| Cash, Cash Equivalents and Short-Term Investments | 1.50B | 1.38B | 1.06B | 460.48M | 192.84M | 59.29M |
| Total Debt | 294.91M | 209.61M | 152.56M | 59.41M | 23.41M | 15.18M |
| Total Liabilities | 2.67B | 2.03B | 1.39B | 575.52M | 227.82M | 97.22M |
| Stockholders Equity | 465.59M | 397.99M | 316.79M | 250.20M | 222.49M | 128.65M |
Cash Flow | ||||||
| Free Cash Flow | 125.28M | 520.58M | 645.66M | 251.62M | 32.39M | 26.97M |
| Operating Cash Flow | 153.48M | 551.73M | 671.28M | 273.45M | 47.40M | 46.53M |
| Investing Cash Flow | -190.89M | -415.75M | -465.37M | -66.53M | -16.61M | -20.24M |
| Financing Cash Flow | 74.83M | -40.00M | 51.26M | -1.85M | 90.91M | -18.88M |
iFAST Corporation Ltd Technical Analysis
Negative
9.00
Price Trends
8.48
Negative
8.76
Negative
8.97
Negative
Market Momentum
-0.17
Negative
32.35
Neutral
15.72
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:AIY, the sentiment is Negative. The current price of 9 is above the 20-day moving average (MA) of 8.00, above the 50-day MA of 8.48, and above the 200-day MA of 8.97, indicating a bearish trend. The MACD of -0.17 indicates Negative momentum. The RSI at 32.35 is Neutral, neither overbought nor oversold. The STOCH value of 15.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:AIY.
iFAST Corporation Ltd Peers Comparison
UnderperformOutperform
Sector (61)
SG:AIY
iFAST Corporation Ltd
7.71
-1.87
-19.53%
SG:TVV
OxPay Financial Limited
0.03
-0.02
-49.02%
SG:BBW
Azeus Systems Holdings Ltd.
9.70
-4.60
-32.19%
SG:HBBD
Alibaba Group Holding Ltd UnSp Singapore Depositary Receipt Repr 1/5 Sh
3.16
-2.34
-42.56%
SG:HTCD
Tencent Holdings Ltd UnSp Singapore Depositary Receipt Repr 1/10 Sh
6.24
-4.19
-40.16%
SG:HBUD
Baidu, Inc. Shs UnSp Singapore Depositary Receipt Repr 1/10 Sh
1.24
-0.89
-41.78%
iFAST Corporation Ltd Corporate Events
iFAST debuts first SGX-listed ETFs in tie-up with Xtrackers
Oct 1, 2026
iFAST Corporation Ltd, a Singapore-headquartered digital banking and wealth management platform with a broad fintech ecosystem across several markets, has grown its assets under administration to S$36.13 billion and offers extensive access to fund...
iFAST clinches Singapore Corporate Awards risk management honour as it scales global fintech platform
Sep 22, 2026
iFAST Corporation Ltd, a Singapore-headquartered digital banking and wealth management platform, has grown into a large-cap fintech player with a broad multi-market presence. It connects investors and product providers through an extensive online ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.