iFAST Corporation (AIY) Q4 2025 earnings summary

Executive summary

• Achieved record total revenue of SGD 514.72 million in FY 2025, up 34.4% year-on-year, and net profit of SGD 100.01 million, up 50.1% year-on-year.

• Q4 2025 revenue grew 45.7% year-on-year to SGD 151.74 million, with net profit up 70.4% to SGD 32.86 million.

• Growth driven by Hong Kong ePension business, core wealth management, and first full year of profitability for iFAST Global Bank.

• Group assets under administration (AUA) reached a record SGD 31.98 billion, up 27.9% year-on-year, with net inflows at a record SGD 4.72 billion.

• Board proposes a final dividend of 2.50 cents per share, total FY 2025 dividend of 8.40 cents, up 42.4% year-on-year.

Financial highlights

• FY 2025 net revenue was SGD 339.65 million, up 36.7% year-on-year.

• Operating expenses for FY 2025 were SGD 220.7 million, up 33.2% year-on-year.

• FY 2025 EPS was 33.09 cents, up 47.8% year-on-year.

• FY 2025 operating cashflows were SGD 551.73 million.

• Recurring net revenue contributed 85.6% of total net revenue in 2024–2025.

Outlook and guidance

• Targeting AUA of SGD 100 billion by 2030, implying a CAGR of 25.6% or higher.

• Expecting double-digit growth in Hong Kong revenues and profitability in 2026; ORSO pension administration to contribute from H2 2026.

• FY 2026 dividend expected to be at least SGD 0.105 per share, 25% higher than FY 2025.

• iFAST Global Bank aims to sustain robust growth rates in 2026 and beyond.

• Focus on operational efficiency improvements in ePension from H2 2026.