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iFAST Corporation Ltd (SG:AIY)
SGX:AIY
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iFAST Corporation Ltd (AIY) AI Stock Analysis

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SG:AIY

iFAST Corporation Ltd

(SGX:AIY)

Rating:76Outperform
Price Target:
S$8.50
â–²(13.79%Upside)
iFAST Corporation's strong financial performance is the most significant factor, supported by robust revenue and profit growth along with effective cash flow management. Technical analysis indicates bullish momentum, although the stock appears overbought. Valuation metrics suggest the stock may be overvalued, which could limit upside potential.
Positive Factors
Dividend and shareholder returns
A higher final DPS of 1.6 S cents was proposed, bringing total DPS to 5.9 S cents and reflecting a commitment to shareholder returns.
Growth in assets under administration
Another record AUA of S$25b was set, indicating strong growth in assets under administration.
Return on equity improvement
The group’s return on equity ratio (ROE) has improved to 22.7% in 1H24, closer to its peak of 25.8% in FY21.
Negative Factors
Investment impact on results
1Q25 results were slightly below expectations, weighed down by higher investments in ePension.
Profit guidance adjustment
IFAST lowered its 2025 profit before tax guidance for its Hong Kong operations due to resource ramp-up.
Regulatory and market sentiment risks
Operations are vulnerable to changes in laws and regulations as well as market sentiment.

iFAST Corporation Ltd (AIY) vs. iShares MSCI Singapore ETF (EWS)

iFAST Corporation Ltd Business Overview & Revenue Model

Company DescriptioniFAST Corporation Ltd (AIY) is a Singapore-based investment holding company that operates in the financial services sector. The company provides an online platform for the distribution of unit trusts, bonds, and other financial products across various markets, including Singapore, Hong Kong, Malaysia, and China. iFAST's core services include the provision of investment products, research, and advisory services to financial advisors, financial institutions, and retail investors.
How the Company Makes MoneyiFAST 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
85
Very Positive
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
78
Positive
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
90
Very Positive
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.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue377.51M339.48M256.54M205.31M216.20M169.93M
Gross Profit193.96M155.78M110.85M115.42M113.22M85.86M
EBITDA149.39M143.24M47.53M37.94M54.08M37.98M
Net Income71.16M66.63M28.27M6.42M30.63M21.15M
Balance Sheet
Total Assets1.98B1.70B832.90M458.54M224.85M254.28M
Cash, Cash Equivalents and Short-Term Investments1.13B1.06B460.48M192.84M59.29M53.28M
Total Debt150.21M152.56M59.41M23.41M15.18M19.22M
Total Liabilities1.64B1.39B575.52M227.82M97.22M150.88M
Stockholders Equity340.16M316.79M250.20M222.49M128.65M104.11M
Cash Flow
Free Cash Flow593.18M645.66M251.62M32.39M26.97M29.34M
Operating Cash Flow617.34M671.28M273.45M47.40M46.53M41.56M
Investing Cash Flow-43.88M-465.37M-66.53M-16.61M-20.24M-10.50M
Financing Cash Flow41.11M51.26M-1.85M90.91M-18.88M-19.18M

iFAST Corporation Ltd Technical Analysis

Technical Analysis Sentiment
Positive
Last Price7.47
Price Trends
50DMA
6.64
Positive
100DMA
6.83
Positive
200DMA
7.17
Positive
Market Momentum
MACD
0.20
Negative
RSI
82.63
Negative
STOCH
88.94
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 7.47 is above the 20-day moving average (MA) of 6.86, above the 50-day MA of 6.64, and above the 200-day MA of 7.17, indicating a bullish trend. The MACD of 0.20 indicates Negative momentum. The RSI at 82.63 is Negative, neither overbought nor oversold. The STOCH value of 88.94 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

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
76
Outperform
S$2.14B29.5523.33%0.60%39.98%77.40%
66
Neutral
S$679.07M18.308.89%1.59%6.93%14.19%
64
Neutral
S$312.15M28.138.66%0.33%43.32%96.93%
64
Neutral
S$501.83M65.252.02%0.86%15.39%140.82%
63
Neutral
$34.55B5.25-11.40%1.91%5.47%-20.39%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SG:AIY
iFAST Corporation Ltd
7.47
0.04
0.54%
SG:E28
Frencken Group Limited
1.62
0.29
21.80%
SG:JLB
Grand Venture Technology Limited
0.92
0.35
61.40%
SG:MZH
Nanofilm Technologies International Ltd.
0.76
-0.10
-11.63%

iFAST Corporation Ltd Corporate Events

iFAST Securities US Gains Direct Access to US Exchanges
May 29, 2025

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
May 27, 2025

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.

iFAST Corporation Expands Wealth Management with New Trust Platform
May 2, 2025

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
Apr 28, 2025

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.

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.Date of analysis: Jul 24, 2025