iFAST Corporation Ltd (AIY) AI Stock Analysis

• Market Cap: S$2.89B
• Dividend Yield: 0.52%
• Average Volume (3M): 2.22M
• Price to Earnings (P/E): 36.9
• Beta (1Y): 0.84
• Revenue Growth: 31.66%
• EPS Growth: 46.37%
• Country: SG
• Employees: 1,708
• Sector: Technology
• Sector Strength: 94
• Industry: Software - Application
• EPS (TTM): 0.07
• Shares Outstanding: 303,938,870
• 10 Day Avg. Volume: 2,500,340
• 30 Day Avg. Volume: 2,224,583
• PEG Ratio: 0.24
• Price to Book (P/B): 6.97
• Price to Sales (P/S): 6.50
• P/FCF Ratio: 3.42
• 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$9.97
• Price Target Upside: 1.94% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 66 Neutral
• Price Target: S$10.00 ▲(2.25% Upside)

iFAST Corporation Ltd's strong financial performance is the most significant factor contributing to its overall score, reflecting robust revenue growth and solid profitability. However, technical analysis indicates potential overbought conditions, and the high P/E ratio suggests overvaluation concerns. These factors collectively result in a moderate overall stock score.

Positive Factors

Dividend Policy

A 33% higher interim dividend was declared, with full-year payout guided at at least 8.0 S cents/share.

Financial Performance

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

Growth Strategy

IFAST Global Bank's potential for value creation is significant with synergistic benefits promising faster growth, reduced costs, streamlined operations, expanded reach, and enhanced profitability.

Negative Factors

Investment Costs

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

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. provides investment products and services in Singapore, Hong Kong, Malaysia, and China. The company operates through Business-to-Business (B2B), Business-to-Consumer (B2C), and Business-to-Business-to-Consumer (B2B2C) divisions. The B2B division operates iFAST Central that includes a range of services, including investment administration and transactions services, research and trainings, IT services, and backroom functions to banks, financial advisory firms, and financial institutions. It also operates iFAST Global Prestige, an investment platform designed to meet the requirements of high net worth individuals, as well as the wealth advisers servicing them; and iFAST Pensions that delivers tax-effective employee benefit solutions to multinational companies and its employees comprising expatriates, as well as assists companies to administer pension schemes for its employees through an Internet platform. In addition, this division operates iFAST Global Markets that provides investors with transparent adviser-assisted wealth management plans. The B2C division offers a distribution and transactional platform for investors through its Fundsupermart.com Website that offers a range of investment products, transparent fees structure, tools to compare investments, customer services support, and research advice. The B2B2C division provides fintech solutions to institutional clients to develop and enhance its capabilities. The company also operates bondsupermart.com, a regional bond information portal that provides bond information and research for investors and wealth advisers. iFAST Corporation Ltd. was incorporated in 2000 and is headquartered in Singapore.

How the Company Makes Money

iFAST Corporation Ltd generates revenue primarily through fees and commissions collected from the distribution of investment products. The company earns trailer fees from fund houses based on the assets under administration on its platform. Additionally, iFAST charges service fees for account maintenance and transactions, including subscription, redemption, and switching fees for the various financial products it offers. The company also benefits from platform fees charged to financial advisors and institutions using its infrastructure for their clients. Strategic partnerships with financial institutions and asset management companies enhance iFAST's product offerings and expand its market reach, contributing to its revenue growth.

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	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	403.86M	339.48M	256.54M	205.31M	216.20M	169.93M
Gross Profit	230.88M	155.78M	110.85M	115.42M	113.22M	85.86M
EBITDA	170.03M	143.24M	47.53M	37.94M	54.08M	37.98M
Net Income	77.23M	66.63M	28.27M	6.42M	30.63M	21.15M
Balance Sheet
Total Assets	2.28B	1.70B	832.90M	458.54M	224.85M	254.28M
Cash, Cash Equivalents and Short-Term Investments	1.34B	1.06B	460.48M	192.84M	59.29M	53.28M
Total Debt	149.24M	152.56M	59.41M	23.41M	15.18M	19.22M
Total Liabilities	1.94B	1.39B	575.52M	227.82M	97.22M	150.88M
Stockholders Equity	346.21M	316.79M	250.20M	222.49M	128.65M	104.11M
Cash Flow
Free Cash Flow	808.36M	645.66M	251.62M	32.39M	26.97M	29.34M
Operating Cash Flow	834.41M	671.28M	273.45M	47.40M	46.53M	41.56M
Investing Cash Flow	-114.54M	-465.37M	-66.53M	-16.61M	-20.24M	-10.50M
Financing Cash Flow	-31.32M	51.26M	-1.85M	90.91M	-18.88M	-19.18M

iFAST Corporation Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 9.78
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:AIY, the sentiment is Positive. The current price of 9.78 is above the 20-day moving average (MA) of 8.71, above the 50-day MA of 7.47, and above the 200-day MA of 7.26, indicating a bullish trend. The MACD of 0.69 indicates Negative momentum. The RSI at 79.70 is Negative, neither overbought nor oversold. The STOCH value of 89.71 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:AIY.

iFAST Corporation Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AIY	66 Neutral	S$2.89B	36.87	24.72%	0.52%	31.66%	46.37%
Sector *	61 Neutral	$36.30B	7.30	-7.27%	1.97%	7.76%	-6.42%
BBW	―	S$475.50M	16.59	86.78%	―	―	―
BVQ	―	S$103.54M	262.50	-12.31%	―	―	―
E28	66 Neutral	S$657.72M	17.72	8.89%	1.69%	6.93%	14.19%
JLB	64 Neutral	S$313.84M	32.23	7.60%	0.32%	47.45%	51.05%
MZH	64 Neutral	S$475.76M	36.50	3.50%	0.91%	22.66%	83.49%

iFAST Corporation Ltd Corporate Events

iFAST Securities US Gains Direct Access to US Exchanges

iFAST Corporation Ltd’s US subsidiary, iFAST Securities US, has received approval to become a Participant of The Depository Trust Company and a Self-Clearing Member of the National Securities Clearing Corporation. This approval allows iFAST Securities US to gain direct access to US exchanges, enhancing the company’s operational efficiency and reducing costs by enabling internal custody of US securities.

The most recent analyst rating on (SG:AIY) stock is a Buy with a S$9.50 price target. To see the full list of analyst forecasts on iFAST Corporation Ltd stock, see the SG:AIY Stock Forecast page.

iFAST Corporation Ltd Conducts Annual General Meeting with Business Update

iFAST Corporation Ltd held its Annual General Meeting (AGM) on April 28, 2025, at the Sands Expo & Convention Centre in Singapore, with participation both physically and via live webcast. The meeting, chaired by Mr. Lim Chung Chun, included a business update presentation by Mr. Jean Paul Wong Tin Niam, and confirmed the presence of a quorum, allowing the AGM to proceed as planned.

The most recent analyst rating on (SG:AIY) stock is a Buy with a S$9.50 price target. To see the full list of analyst forecasts on iFAST Corporation Ltd stock, see the SG:AIY Stock Forecast page.