Ryde Group

RYDE

Software - Application · Technology

Price

$0.83

-0.01 (-0.75%)

Market Cap

$22.2M

Exchange

New York Stock Exchange Arca

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.

Data as of Aug 9, 2026 · filings through Dec 31, 2025

Share count rising — dilution

+134.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 11.7M (2021) → 27.4M (2025)

Ryde Group Ltd is a Singapore-based ride-hailing and carpooling app that connects passengers with drivers for everyday trips. Its main products are a ridesharing platform and a carpooling service, targeting commuters and urban travelers in Southeast Asia. The company competes in a crowded regional market dominated by much larger players like Grab and Gojek.

Ryde makes money by taking a commission on each completed ride booked through its app, along with some advertising and platform fees. It operates primarily in Singapore, which is a small but wealthy market with high smartphone penetration. With a near-zero market cap and a deeply negative operating margin, the company is spending far more than it earns, and its biggest challenge is scaling revenue fast enough to survive against well-funded competitors with much larger user bases and driver networks.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+195.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-376.2% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

34.6%ownership

Insiders own a meaningful stake in the company

Cash Runway

~1 months

$7M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Ryde Group grew revenue 195% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

25.7%

Modest — 25.7% gross margin

Operating Margin

-139.7%

Losing money on operations — -139.7%

ROCE

-54.9%

Weak — -54.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+39.7%

Fast-growing sales (+39.7% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

N/A

Data not available

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-193.0%

Burning cash (-193.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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