iFAST Corporation Ltd (AIY) AI Stock Analysis

• Market Cap: S$1.91B
• Dividend Yield: 0.9%
• Average Volume (3M): 1.34M
• Price to Earnings (P/E): 26.4
• Beta (1Y): 1.05
• Revenue Growth: 39.98%
• EPS Growth: 77.40%
• Country: SG
• Employees: 1,708
• Sector: Technology
• Sector Strength: 68
• Industry: Software - Application
• EPS (TTM): 0.24
• Shares Outstanding: 302,873,260
• 10 Day Avg. Volume: 1,658,440
• 30 Day Avg. Volume: 1,336,620
• PEG Ratio: 0.34
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• Price to Cash Flow (P/CF): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: S$9.22
• Price Target Upside: 46.35% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

iFAST Corporation's stock score is driven by its strong financial performance, highlighted by robust revenue growth and effective cash flow management. However, the technical analysis indicates bearish momentum with oversold conditions, and the valuation suggests it is priced for moderate growth. The lack of recent earnings call data or notable corporate events leaves the score reliant on these analyses.

Positive Factors

Assets Under Administration

Another record AUA of S$25b (+26% yoy, +6% qoq) was set, indicating strong growth in assets under administration.

Dividend

A higher interim dividend per share of 1.6 S cents was proposed, indicating a positive outlook on cash distribution to shareholders.

Revenue Growth

Revenue rose 24% year over year, driven by growth in its core wealth management platform business and iGB’s profit turnaround.

Negative Factors

1Q25 Results

1Q25 results slightly below expectations, weighed down by higher investments in ePension.

Profit Guidance

IFAST lowered its 2025 profit before tax guidance for its Hong Kong operations due to resource ramp-up.

Regulatory Risks

Its operations are vulnerable to changes in laws and regulations as well as market sentiment.

iFAST Corporation Ltd Business Overview & Revenue Model

Company Description

iFAST Corporation Ltd (AIY) is a Singapore-based investment management fintech company that operates a global financial platform. The company provides a range of financial services, including investment products such as unit trusts, bonds, and exchange-traded funds (ETFs) to financial advisory firms, financial institutions, and retail investors. iFAST also offers wealth management, transaction processing, and investment administration services across several countries, including Singapore, Malaysia, Hong Kong, and China.

How the Company Makes Money

iFAST Corporation Ltd generates revenue primarily through fees and commissions from the distribution and administration of investment products. The company earns a significant portion of its income from platform fees charged to financial advisors and institutions for using its comprehensive financial platform. Additionally, iFAST receives transactional fees from the buying and selling of financial products on its platform, as well as trailer fees from fund management companies for distributing their products. The company also benefits from strategic partnerships with various financial institutions, which help expand its product offerings and client base. Furthermore, iFAST's geographical diversification across Asia allows it to tap into different markets, enhancing its revenue potential.

iFAST Corporation Ltd Financial Statement Overview

Summary

iFAST Corporation exhibits strong financial health with robust revenue and profit growth, efficient operations, and effective cash flow management. The moderate leverage and high return on equity reflect a well-managed balance sheet. However, maintaining growth amidst industry competition and ensuring long-term stability through a higher equity ratio are key areas to watch.

Income Statement

The company has shown strong revenue growth with a 11.21% increase in TTM. Gross profit margin remains robust at 51.37%, and net profit margin is healthy at 18.85%. EBIT and EBITDA margins are commendable at 23.98% and 39.57% respectively, indicating solid operational efficiency. However, sustaining these growth rates could be challenging in a competitive industry.

Balance Sheet

iFAST Corporation maintains a strong equity base with an equity ratio of 17.20%, although the debt-to-equity ratio is moderate at 0.44, suggesting manageable leverage. The return on equity is impressive at 20.91%, demonstrating effective use of shareholder funds. However, a higher equity ratio could provide more financial stability.

Cash Flow

Excellent cash flow performance with a high free cash flow growth rate of -8.12% due to slight decline but remains strong overall. The operating cash flow to net income ratio is robust at 8.67, implying efficient cash conversion. The free cash flow to net income ratio stands at 8.34, which indicates strong cash flow generation relative to profitability, providing financial flexibility.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
339.48M	256.54M	205.31M	216.20M	169.93M
	Gross Profit
155.78M	110.85M	115.42M	113.22M	85.86M
	EBIT
84.60M	37.14M	17.13M	36.03M	25.77M
	EBITDA
143.24M	47.53M	37.94M	54.08M	37.98M
	Net Income Common Stockholders
66.63M	28.27M	6.42M	30.63M	21.15M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
1.06B	460.48M	192.84M	59.29M	53.28M
	Total Assets
1.70B	832.90M	458.54M	224.85M	254.28M
	Total Debt
152.56M	59.41M	23.41M	15.18M	19.22M
	Net Debt
-319.06M	-300.40M	-113.56M	-23.17M	-12.39M
	Total Liabilities
1.39B	575.52M	227.82M	97.22M	150.88M
	Stockholders Equity
316.79M	250.20M	222.49M	128.65M	104.11M
Cash Flow		Free Cash Flow
645.66M	251.62M	32.39M	26.97M	29.34M
	Operating Cash Flow
671.28M	273.45M	47.40M	46.53M	41.56M
	Investing Cash Flow
-465.37M	-66.53M	-16.61M	-20.24M	-10.50M
	Financing Cash Flow
51.26M	-1.85M	90.91M	-18.88M	-19.18M

iFAST Corporation Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: 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 6.3 is below the 20-day moving average (MA) of 6.60, below the 50-day MA of 7.33, and below the 200-day MA of 7.35, indicating a bearish trend. The MACD of -0.21 indicates Positive momentum. The RSI at 37.38 is Neutral, neither overbought nor oversold. The STOCH value of 5.78 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
D05	78 Outperform	$108.21B	9.67	17.99%	4.80%	13.03%	12.01%
S68	77 Outperform	$15.36B	23.37	35.32%	2.42%	8.76%	15.45%
C07	74 Outperform	S$10.10B	7.99	11.58%	6.55%	-0.21%	-22.52%
U11	69 Neutral	$58.32B	9.81	13.43%	5.59%	5.68%	5.92%
G07	66 Neutral	S$12.21B	12.27	12.01%	3.49%	23.83%	28.49%
AIY	64 Neutral	S$1.91B	26.40	23.33%	0.90%	39.98%	77.40%
Sector *	60 Neutral	$10.94B	10.58	-7.08%	2.98%	7.52%	-12.04%

iFAST Corporation Ltd Corporate Events

iFAST Corporation Expands Wealth Management with New Trust Platform

iFAST Corporation Ltd has received a Trust Business Licence from the Monetary Authority of Singapore, enabling it to launch iFAST Global Trust, a platform aimed at expanding its wealth management services. This initiative seeks to make trust solutions more accessible and inclusive, targeting not only high net worth individuals but also a broader market by reducing traditional barriers such as high costs and complex structures. The platform will leverage iFAST’s proprietary IT infrastructure to offer efficient management and integration with legacy planning goals, enhancing its service offerings across the wealth lifecycle.

iFAST Corporation Celebrates Milestones and Outlines Future Strategic Plans

iFAST Corporation Ltd has responded to questions from the Securities Investors Association (Singapore) regarding its annual report for the financial year ending December 2024. Celebrating its 25th anniversary and 10th year as a listed company, iFAST has achieved a record $25.01 billion in assets under administration. The company is committed to expanding its global fintech ecosystem, enhancing its wealth management platforms, and maintaining compliance with international regulations, as outlined in its 3-year strategic roadmap for 2025-2027.

iFAST Corp Partners with TSFC Securities to Launch Fintech Bond Platform in Thailand

iFAST Corporation Ltd has entered into a strategic partnership with TSFC Securities, a government-linked securities financing firm in Thailand, to expand its global footprint and develop a fintech service platform for trading offshore bonds. Facilitated by Enterprise Singapore, this collaboration aims to enhance cross-border investment access for Thai brokers, asset managers, and accredited investors by offering immediate executable pricing and full price transparency, which are uncommon in traditional bond markets.

iFAST Corp Appoints New CEO for Singapore Subsidiary Amidst Strategic Expansion

iFAST Corporation Ltd announced the appointment of Vincent Tong as the new CEO of its Singapore subsidiary, iFAST Financial Pte Ltd, as part of its strategic leadership restructuring to support business expansion. This change allows Group CEO Lim Chung Chun to focus on overseeing the Group’s global strategic growth, while Tong, who has been with the company since 2007, will lead the Singapore operations, ensuring continuity and expertise in the local market.