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Swvl Holdings Corp. (SWVL) 10-Year Financial Performance & Capital Metrics

SWVL • • Industrial / General
TechnologyApplication SoftwareMarketing & Customer EngagementCustomer Analytics
AboutSwvl Holdings Corp. provides mass transit ridesharing services. It offers B2C Swvl Retail, which provides riders with a network of minibuses and other vehicles running on fixed or semi-fixed routes within cities; Swvl Travel that allows riders to book rides on long-distance intercity routes on vehicle available through the Swvl platform or through third-party services; and Swvl Business, a transport as a service enterprise product for businesses, schools, municipal transit agencies, and other customers. The company was incorporated in 2017 and is headquartered in Dubai, the United Arab Emirates.Show more
  • Revenue $17M -24.7%
  • EBITDA -$8M -159.2%
  • Net Income -$10M -438.3%
  • EPS (Diluted) -1.19 -525.0%
  • Gross Margin 21.15% +17.6%
  • EBITDA Margin -46.6% -178.6%
  • Operating Margin -49.33% -188.1%
  • Net Margin -60.08% -549.2%
  • ROE -395.6% -652.9%
  • ROIC -5982.19% -2621.7%
  • Debt/Equity -
  • Interest Coverage -207.15 -309.5%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Share count reduced 21.5% through buybacks
  • ✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Weak momentum: RS Rating 9 (bottom 9%)
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y6.86%
3Y-12.36%
TTM-20.11%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-221.17%

EPS CAGR

10Y-
5Y-
3Y-
TTM-213.65%

ROCE

10Y Avg-340.82%
5Y Avg-374.9%
3Y Avg-458.09%
Latest-222.65%

Peer Comparison

Customer Analytics
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Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+12.35M17.31M25.56M43M22.85M17.21M
Revenue Growth %-0.4%0.48%0.68%-0.47%-0.25%
Cost of Goods Sold+33.78M26.41M48.92M48.74M18.74M13.57M
COGS % of Revenue2.74%1.53%1.91%1.13%0.82%0.79%
Gross Profit+-21.43M-4.21M-5.79M179.83K4.11M3.64M
Gross Margin %-1.74%-0.24%-0.23%0%0.18%0.21%
Gross Profit Growth %-0.8%-0.37%1.03%21.86%-0.11%
Operating Expenses+19.5M20.36M82.32M80.26M9.89M12.13M
OpEx % of Revenue1.58%1.18%3.22%1.87%0.43%0.7%
Selling, General & Admin18.15M21.73M83.27M36.68M10.14M10.45M
SG&A % of Revenue1.47%1.26%3.26%0.85%0.44%0.61%
Research & Development708.31K1.03M3.78M9.04M1.12M750.03K
R&D % of Revenue0.06%0.06%0.15%0.21%0.05%0.04%
Other Operating Expenses640.08K-2.4M-4.74M34.54M-1.36M929.13K
Operating Income+-40.92M-24.57M-88.11M-80.79M12.79M-8.49M
Operating Margin %-3.31%-1.42%-3.45%-1.88%0.56%-0.49%
Operating Income Growth %-0.4%-2.59%0.08%1.16%-1.66%
EBITDA+-40.67M-24.45M-87.37M-76.52M13.54M-8.02M
EBITDA Margin %-3.29%-1.41%-3.42%-1.78%0.59%-0.47%
EBITDA Growth %-0.4%-2.57%0.12%1.18%-1.59%
D&A (Non-Cash Add-back)253.07K123.6K739.58K4.28M752.78K470.14K
EBIT-40.57M-24.57M-132.31M-98.31M4.2M-11.02M
Net Interest Income+182.67K482.05K-1.37M-3.6M-83.24K-39.37K
Interest Income303.75K546.87K125.18K68.4K46.12K1.61K
Interest Expense70.64K63.68K1.49M3.67M129.35K40.98K
Other Income/Expense286.22K524.93K-45.7M-21.18M299.44K-2.58M
Pretax Income+-40.64M-24.05M-133.81M-101.97M13.09M-11.07M
Pretax Margin %-3.29%-1.39%-5.23%-2.37%0.57%-0.64%
Income Tax+-5.38M-3.16M-4.72M-3.23M-41.3K0
Effective Tax Rate %0.87%1.24%1.06%1.14%0.23%0.93%
Net Income+-35.26M-29.73M-141.49M-116.5M3.06M-10.34M
Net Margin %-2.85%-1.72%-5.53%-2.71%0.13%-0.6%
Net Income Growth %-0.16%-3.76%0.18%1.03%-4.38%
Net Income (Continuing)-35.26M-20.89M-129.09M-98.75M13.13M-11.07M
Discontinued Operations0-8.83M-12.4M-24.83M-1.06M795.37K
Minority Interest0066.38K-4.19M-3.04M-2.97M
EPS (Diluted)+-7.44-6.27-29.85-24.390.28-1.19
EPS Growth %-0.16%-3.76%0.18%1.01%-5.25%
EPS (Basic)-7.44-6.27-29.85-24.530.45-1.19
Diluted Shares Outstanding4.74M4.74M4.74M4.78M11.03M8.66M
Basic Shares Outstanding4.74M4.74M4.74M4.75M6.79M8.66M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+17.32M13.47M34.59M25.58M10.97M10.28M
Cash & Short-Term Investments15.33M10.35M19.53M1.54M2.92M4.96M
Cash Only15.33M10.35M9.53M1.54M2.92M4.96M
Short-Term Investments0010M000
Accounts Receivable1.73M2.86M7.24M16.41M7.12M4.99M
Days Sales Outstanding51.2460.3103.34139.27113.7105.91
Inventory007.81M01.26K0
Days Inventory Outstanding--58.3-0.02-
Other Current Assets91.17K0-262.59K5.62M404.29K136.35K
Total Non-Current Assets+8.29M11.29M24.75M31.88M10.93M6.09M
Property, Plant & Equipment1.53M1.37M4.71M2.09M1.24M690.41K
Fixed Asset Turnover8.07x12.61x5.43x20.61x18.49x24.92x
Goodwill004.42M000
Intangible Assets00988.41K10.53M225.78K106.26K
Long-Term Investments000553.03K00
Other Non-Current Assets000001.52K
Total Assets+25.61M24.76M59.34M57.46M21.9M16.37M
Asset Turnover0.48x0.70x0.43x0.75x1.04x1.05x
Asset Growth %--0.03%1.4%-0.03%-0.62%-0.25%
Total Current Liabilities+5.6M5.56M144.96M51.46M14.77M15.87M
Accounts Payable1.36M1.06M5.18M29.16M6.81M5.71M
Days Payables Outstanding14.6614.6138.62218.37132.67153.59
Short-Term Debt0075.15M751.01K640.7K158.2K
Deferred Revenue (Current)710.15K1000K1000K1000K1000K5.69K
Other Current Liabilities4.16M1.64M50.44M11.81M4.97M5.17M
Current Ratio3.09x2.42x0.24x0.50x0.74x0.65x
Quick Ratio3.09x2.42x0.18x0.50x0.74x0.65x
Cash Conversion Cycle--123.02--18.95-
Total Non-Current Liabilities+776.19K790.38K4.11M3.37M1.21M1.19M
Long-Term Debt00337.55K000
Capital Lease Obligations776.19K625.86K2.96M1.59M1.02M440.18K
Deferred Tax Liabilities000-194.09K00
Other Non-Current Liabilities0164.51K815.41K1.78M190.38K745.96K
Total Liabilities6.37M6.35M149.08M54.83M15.98M17.05M
Total Debt+1.15M928.58K79.65M2.34M1.66M1.21M
Net Debt-14.19M-9.42M70.12M804.78K-1.26M-3.75M
Debt / Equity0.06x0.05x-0.89x0.28x-
Debt / EBITDA----0.12x-
Net Debt / EBITDA-----0.09x-
Interest Coverage-579.36x-385.87x-58.95x-22.04x98.89x-207.15x
Total Equity+19.24M18.41M-89.74M2.63M5.91M-687.95K
Equity Growth %--0.04%-5.87%1.03%1.25%-1.12%
Book Value per Share4.063.88-18.930.550.54-0.08
Total Shareholders' Equity4.81M18.41M-89.8M6.82M8.95M2.28M
Common Stock15.63M88.88M8.53K13.9K16.98K24.75K
Retained Earnings-11.23M-74.65M-216.07M-332.56M-329.51M-339.85M
Treasury Stock0000-507.68K0
Accumulated OCI-6.48K860.37K450.86K-4.84M-8.85M-12.35M
Minority Interest0066.38K-4.19M-3.04M-2.97M

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-39.99M-30.55M-62.13M-117.46M-9.11M-3.57M
Operating CF Margin %-3.24%-1.76%-2.43%-2.73%-0.4%-0.21%
Operating CF Growth %-0.24%-1.03%-0.89%0.92%0.61%
Net Income-40.64M-32.88M-146.21M-126.8M4.12M-10.27M
Depreciation & Amortization253.07K487.41K739.58K4.28M752.78K470.14K
Stock-Based Compensation433.34K2.83M33.61M-36.16M3.27M56.45K
Deferred Taxes001.98M-52.33M00
Other Non-Cash Items325.71K893.37K45.87M110.81M-16.06M1.67M
Working Capital Changes-360.89K-1.87M1.87M-17.26M-1.18M4.51M
Change in Receivables-837.75K-1.79M-4.83M-11.91M3.92M2.13M
Change in Inventory837.75K1.79M4.83M000
Change in Payables186.07K-257.75K8.16M-3.56M-6.47M1.47M
Cash from Investing+-388.63K-212.99K-11.15M-8.09M8.79M583.37K
Capital Expenditures-388.63K-212.99K-321.69K-2.48M-275.39K0
CapEx % of Revenue0.03%0.01%0.01%0.06%0.01%0%
Acquisitions------
Investments------
Other Investing00-2.22K1.81M668.24K583.37K
Cash from Financing+46.36M26.04M72.72M124.85M343.89K4.04M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing0-26.38M-2.65K38.91M00
Net Change in Cash------
Free Cash Flow+-40.38M-30.76M-62.46M-119.95M-9.38M-3.57M
FCF Margin %-3.27%-1.78%-2.44%-2.79%-0.41%-0.21%
FCF Growth %-0.24%-1.03%-0.92%0.92%0.62%
FCF per Share-8.52-6.49-13.18-25.11-0.85-0.41
FCF Conversion (FCF/Net Income)1.13x1.03x0.44x1.01x-2.98x0.34x
Interest Paid000000
Taxes Paid000000

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-183.29%-157.91%--4430.89%71.55%-395.6%
Return on Invested Capital (ROIC)-607.58%-262.5%--1764.6%237.23%-5982.19%
Gross Margin-173.52%-24.33%-22.63%0.42%17.99%21.15%
Net Margin-285.47%-171.7%-553.47%-270.94%13.37%-60.08%
Debt / Equity0.06x0.05x-0.89x0.28x-
Interest Coverage-579.36x-385.87x-58.95x-22.04x98.89x-207.15x
FCF Conversion1.13x1.03x0.44x1.01x-2.98x0.34x
Revenue Growth-40.16%47.66%68.19%-46.85%-24.7%

Revenue by Segment

202120232024
Business To Business SaaS8.54K16.64M12.98M
Business To Business SaaS Growth-194820.57%-22.01%
Business To Customers-6.22M4.23M
Business To Customers Growth---31.91%

Revenue by Geography

202120232024
EGYPT25.01M20.97M13.55M
EGYPT Growth--16.16%-35.41%
SAUDI ARABIA-1.88M3.6M
SAUDI ARABIA Growth--91.36%
UNITED ARAB EMIRATES--61.23K
UNITED ARAB EMIRATES Growth---
PAKISTAN10.39M--
PAKISTAN Growth---
KENYA1.87M--
KENYA Growth---
Other Countries1.07M--
Other Countries Growth---

Frequently Asked Questions

Growth & Financials

Swvl Holdings Corp. (SWVL) reported $18.3M in revenue for fiscal year 2024. This represents a 48% increase from $12.4M in 2019.

Swvl Holdings Corp. (SWVL) saw revenue decline by 24.7% over the past year.

Swvl Holdings Corp. (SWVL) reported a net loss of $5.3M for fiscal year 2024.

Dividend & Returns

Swvl Holdings Corp. (SWVL) has a return on equity (ROE) of -395.6%. Negative ROE indicates the company is unprofitable.

Swvl Holdings Corp. (SWVL) had negative free cash flow of $0.8M in fiscal year 2024, likely due to heavy capital investments.

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