olivLaw · US equity research
WEBUY GLOBAL LTD WBUY
Retail-Miscellaneous Retail · SIC 5900 · Vertical: Retail-Miscellaneous Retail (SIC 5900)
WEBUY GLOBAL LTD is an Asia-focused travel services company that shifted its focus from grocery e-commerce to travel through its WeTrip platform and its Webuy Travel and Altitude brands. The shift has sharply reduced revenue from continuing operations while the net loss widened, and the company remains in a transition with limited operating history in travel.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, WEBUY GLOBAL LTD (WBUY) stock was 0.54 USD (+0.94% on the day), with market capitalisation 1.3 m USD, beta 0.63, 52-week range 0.52–4.06 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 31.8
- weak (30–45)
- Bollinger (20, 2)
- 0.45 – 0.89
- in the lower half of the band · %B 0.19 · band width 64.9%
- SMA 50 / 200
- 0.79 / 0.98
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.08 / -0.06
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −29.1% | −1.1% | −28.0 pp | — |
| 3 months | −41.0% | −0.5% | −40.6 pp | — |
| 6 months | −59.8% | +4.4% | −64.2 pp | — |
| Year to date | −58.8% | +12.3% | −71.2 pp | — |
| 1 year | −77.1% | +13.5% | −90.7 pp | −24.1% |
| 3 years | −99.9% | +76.4% | −176.3 pp | +0.4% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | 22.3 m | 44.6 m | 50.8 m | 50.9 m | 18.8 m |
| Revenue YoY | unavailable | +99.9% | +14.1% | +0.1% | −63.0% |
| Net income | -8.0 m | -6.7 m | -5.1 m | -6.6 m | -8.5 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | -0.21 | -0.16 | -12.69 | -13.13 | -6.03 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -36.1% | -14.9% | -10.1% | -13.0% | -45.3% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 3.1 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 3.3 m USD
- Total assets
- 16.2 m USD
- Debt / equity
- unavailable
- Current ratio
- 1.15x
- ROE
- -167.6%
- ROA
- -43.4%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|
| Revenue | 22.3 m | 44.6 m | 50.8 m | 50.9 m | 18.8 m | SEC (XBRL)· 29 Apr 2026verified |
| Cost of revenue | 19.8 m | 40.8 m | 47.5 m | 48.3 m | 16.6 m | SEC (XBRL)· 29 Apr 2026verified |
| Gross profit | 2.5 m | 3.8 m | 3.3 m | 2.6 m | 2.3 m | SEC (XBRL)· 29 Apr 2026verified |
| SG&A | — | — | 3.7 m | 6.4 m | 7.4 m | SEC (XBRL)· 29 Apr 2026verified |
| Operating income | -8.2 m | -7.4 m | -1.4 m | -5.8 m | -6.6 m | SEC (XBRL)· 29 Apr 2026verified |
| Interest expense | — | — | 241.9 k | 215.0 k | — | SEC (XBRL)· 29 Apr 2026verified |
| Pre-tax income | -8.2 m | -6.7 m | -1.1 m | -3.4 m | -5.6 m | SEC (XBRL)· 29 Apr 2026verified |
| Net income | -8.0 m | -6.7 m | -5.1 m | -6.6 m | -8.5 m | SEC (XBRL)· 29 Apr 2026verified |
| Diluted EPS | -0.21 | -0.16 | -12.69 | -13.13 | -6.03 | SEC (XBRL)· 29 Apr 2026verified |
| Weighted average diluted shares | 38.4 m | 41.7 m | 406.9 k | 516.2 k | 1.4 m | SEC (XBRL)· 29 Apr 2026verified |
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|
| Cash | 1.5 m | 1.6 m | 5.4 m | 4.1 m | 3.1 m | SEC (XBRL)· 29 Apr 2026verified |
| Receivables | — | 2.6 m | 10.1 m | 4.2 m | 1.1 m | SEC (XBRL)· 29 Apr 2026verified |
| Inventories | — | 1.1 m | 769.6 k | 154.1 k | — | SEC (XBRL)· 22 Apr 2025verified |
| Current assets | — | 6.6 m | 25.4 m | 19.4 m | 13.7 m | SEC (XBRL)· 29 Apr 2026verified |
| Property, plant & equipment, net | — | 423.6 k | 896.5 k | 730.6 k | 287.1 k | SEC (XBRL)· 29 Apr 2026verified |
| Intangibles (excl. goodwill) | — | 933.0 k | 1.3 m | 1.1 m | 713.0 k | SEC (XBRL)· 29 Apr 2026verified |
| Total assets | — | 8.0 m | 30.2 m | 23.1 m | 16.2 m | SEC (XBRL)· 29 Apr 2026verified |
| Accounts payable | — | 5.5 m | 11.1 m | 6.1 m | 2.7 m | SEC (XBRL)· 29 Apr 2026verified |
| Short-term debt | — | — | — | 166.4 k | — | SEC (XBRL)· 22 Apr 2025verified |
| Current liabilities | — | 10.3 m | 22.2 m | 14.6 m | 11.9 m | SEC (XBRL)· 29 Apr 2026verified |
| Total liabilities | — | 10.8 m | 24.6 m | 16.3 m | 12.9 m | SEC (XBRL)· 29 Apr 2026verified |
| Equity | -1.2 m | -2.8 m | 5.7 m | 6.9 m | 3.3 m | SEC (XBRL)· 29 Apr 2026verified |
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|
| Operating cash flow | -4.0 m | -4.1 m | -7.2 m | -7.0 m | -2.9 m | SEC (XBRL)· 29 Apr 2026verified |
| Investing cash flow | -615.8 k | -1.1 m | -4.6 m | -944.4 k | -204.1 k | SEC (XBRL)· 29 Apr 2026verified |
| Financing cash flow | 968.9 k | 5.4 m | 15.5 m | 6.3 m | 2.4 m | SEC (XBRL)· 29 Apr 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 25.0% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 1.3 m USD
Key indicators
Coverage and freshness
Score by group
25% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -45.3% | 9 (vs peers) | 25% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -25.0% | 0 (on a fixed band) | 33% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -30.8x | 0 (on a fixed band) | 25% |
| Current ratio · Balance sheet | 1.1x | 29 (on a fixed band) | 17% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet12/100 · 2/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality· partial9/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
WEBUY GLOBAL LTD (WBUY). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 18.8 m USD in 2025; YoY growth -63.0%; net margin -45.3%; ROE -160.3%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: -45.3%
- Revenue CAGR 3Y: -25.0%
- Interest coverage: -30.8x
- Current ratio: 1.1x
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Retail-Miscellaneous Retail (SIC 5900) · same industry (4-digit SIC) · compared with 12 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| FCFSFirstcash Holdings, Inc. | 8.3 bn | 20.9 | 18.2% | 9.5% | +8.0% | +22% / +73% |
| REALTheRealReal, Inc. | 1.7 bn | — | — | -1.4% | +15.4% | −6% / +500% |
| SVVSavers Value Village, Inc. | 1.5 bn | 63.3 | 5.7% | 1.4% | unavailable | +10% / −33% |
| SPHSuburban Propane Partners LP | 1.1 bn | 7.3 | — | 9.4% | +7.9% | −12% / +0% |
| WINAWinmark Corporation | 987.7 m | 24.8 | — | 45.1% | +5.9% | −32% / −35% |
| TMSTeamshares Inc | 344.7 m | — | -6.7% | — | unavailable | −54% / unavailable |
| PLBYPlayboy, Inc. | 164.1 m | 609.5 | 12.4% | 0.2% | +4.1% | −29% / +161% |
| LIVELIVE VENTURES Inc | 22.9 m | — | -2.8% | -0.6% | −5.9% | −19% / −70% |
| WBUYWebuy Global Ltd | 1.3 m | — | -160.3% | -45.3% | −63.0% | −77% / −100% |
| NEXRNexera Technologies Ltd | 62.0 k | — | -43.2% | -21.8% | +23.0% | −100% / −100% |
| EZPWEzcorp, Inc. | — | 15.1 | 14.7% | 10.0% | +9.7% | +53% / +260% |
| WSHPWeShop Holdings Ltd | — | — | -946.5% | -14,972.7% | −67.3% | −98% / unavailable |
| POMPOMDOCTOR Ltd | — | — | — | -32.7% | unavailable | −98% / unavailable |
1- and 3-year price returns: for WBUY from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Apr 2026; since then the company filed 6-K (23 Oct 2026), 6-K (28 Sept 2026), 6-K (18 Sept 2026), 6-K (01 Sept 2026), 6-K (14 Aug 2026), 6-K (06 May 2026).
In brief
WEBUY GLOBAL LTD is an Asia-focused travel services company that shifted its focus from grocery e-commerce to travel through its WeTrip platform and its Webuy Travel and Altitude brands. The shift has sharply reduced revenue from continuing operations while the net loss widened, and the company remains in a transition with limited operating history in travel 1.
SWOT
Strengths
- The company has experience in digital marketing, social commerce and community-based customer acquisition, built in its former retail business and extended into travel 1.
- The technology-enabled operating model with AI tools may support itinerary personalization and operational efficiency, as the company describes 1.
- A three-brand portfolio allows the company to address different customer segments, from affordable travel to premium experiences 1.
Weaknesses
Opportunities
- If the packaged tour segment keeps growing, the company could improve profitability through better travel margins 1.
- Expansion in Indonesia, including the Surabaya presence, and the China inbound corridor could open new revenue sources 1.
- Developing the Golden Circle loyalty program could support customer retention if it reaches scale 1.
Threats
- Competition from established online agencies and traditional providers may limit growth and margins 1.
- Travel demand can be affected by macroeconomic conditions, travel restrictions and regulation in the operating markets 1.
- Access to capital and the ability to attract and retain customers are uncertain, and these may constrain expansion plans 1.
Risks
- Limited operating history in travelhigh
The company has recently moved from retail to travel, so past results give an uncertain basis for estimating future performance 1.
- Revenue decline and net losseshigh
Revenue from continuing operations contracted sharply and the net loss increased, raising questions about the sustainability of the model during the transition 1.
- Recoverability of receivablesmedium
Bad debt expenses rose considerably, indicating credit risk on outstanding balances and advances to suppliers 1.
- Intense competitionmedium
Competition from established platforms and traditional providers may prevent the company from reaching its targeted margins 1.
- Sensitivity to macroeconomic and travel conditionsmedium
Demand for travel services can be affected by travel restrictions, economic conditions and discretionary consumer spending 1.
Investment thesis
What would need to be true (bull case)
- If the packaged tour segment maintains its growth and margins keep improving, the company could show that its technology-enabled travel model can scale 1.
- Experience in digital marketing and social commerce could give an advantage in acquiring customers in new Southeast Asian markets and on the China corridor 1.
- The brand portfolio, from WeTrip to Altitude, could allow coverage of several price points and customer segments 1.
What would break the thesis
- The limited travel history and negative operating results in 2025 make it hard to assess whether the company can reach its targeted margins 1.
- Rising bad debt expenses and volatile demand could continue to weigh on revenue and profitability 1.
- Intense competition from established agencies and technology platforms could limit the company's ability to grow its market share 1.
What to watch
- Trend in packaged tour revenue and gross margin in continuing operationsQ1 2027
- Level of bad debt expenses and outstanding receivable balances2027
- Development of the Golden Circle program and the AI Travel Assistant device2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Apr 2026; since then the company filed 6-K (23 Oct 2026), 6-K (28 Sept 2026), 6-K (18 Sept 2026), 6-K (01 Sept 2026), 6-K (14 Aug 2026), 6-K (06 May 2026).
The business
Until the third quarter of 2025 the company primarily operated a community e-commerce business focused on grocery and daily essentials. From that point its focus moved to travel services and technology infrastructure, and the source presents the Singapore grocery business as discontinued operations 1. The company says travel has different margin and cash flow characteristics, but its limited travel history means future results may not be comparable with past ones 1.
The operating model combines digital marketing, social commerce and AI tools for customer acquisition, itinerary personalization and travel service delivery. The company is developing an internal AI Travel Assistant device and a loyalty initiative called Golden Circle, which is at an early stage 1.
Segments
WeTrip, Webuy Travel and Altitude brands
WeTrip offers bookings, itinerary planning and inbound China services for international travelers, Webuy Travel targets affordable outbound travel from Southeast Asia, and Altitude serves the premium segment through a curated advisory model with AI-assisted personalization 1.
Fresh produce (remaining in continuing operations)
Fresh produce in Indonesia, still within continuing operations, fell sharply in 2025 as management decided to wind down most grocery trading because of working capital pressure 1.
Market context
The company operates in Singapore, Indonesia and Malaysia and serves outbound demand from these markets as well as inbound demand to China 1. The source describes Southeast Asian travel markets and the China inbound corridor as large, but stresses strong competition from established online agencies, traditional providers and other technology platforms 1.
Demand is seasonal, peaking during school and year-end holidays, and can be affected by macroeconomic conditions, travel restrictions and discretionary consumer spending 1.
Trends
- Shift from retail to travelmixed
The move toward travel could improve margins if the segment gains scale, as the company reports a higher gross margin in continuing operations. However, the travel history is still short and total revenue has contracted sharply 1.
- Outbound travel demand in Southeast Asiatailwind
The source indicates that outbound travel demand from Singapore and Indonesia supported growth in the packaged tour segment in 2025 1.
- Receivables pressure and recoverabilityheadwind
Bad debt expenses rose considerably, reflecting the aging of outstanding balances and uncertainty over recoverability, including advances to suppliers 1.
- Investment in digital marketing and AI toolsmixed
Selling expenses increased alongside digital marketing investment, and AI tool development is presented as a way to support scaling of the business model 1. The effect depends on converting these investments into revenue.
Competitive position
The source cites competition from established online travel agencies, traditional travel service providers and other technology-enabled platforms in the region 1. The company is not in a dominant position and competes on accessible pricing, curated experiences and digital marketing channels 1.
The company's stated advantages include experience in digital marketing and social commerce, a technology-enabled operating model and a presence on Southeast Asian and China travel corridors 1. These advantages depend on applying them in new markets, which the company acknowledges is uncertain 1.
- Established online travel agencies
The source describes these as established competitors with greater customer reach and resources than the company 1.
- Traditional travel service providers
Agencies and tour operators with consolidated offline networks in Southeast Asia and China, named in the source as direct competition 1.
- Other technology-enabled travel platforms
Regional digital platforms competing for the same outbound and inbound customers, described in the source as a source of pressure 1.
- Premium tour operators
Competitors for the Altitude segment, where customers look for curated experiences and advisory services 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)23 Oct 2026
- Current report (foreign issuer)28 Sept 2026
- Current report (foreign issuer)18 Sept 2026
- Current report (foreign issuer)01 Sept 2026
- Current report (foreign issuer)14 Aug 2026
- Current report (foreign issuer)06 May 2026
- Annual report (foreign issuer)29 Apr 2026
- Current report (foreign issuer)23 Apr 2026
- Current report (foreign issuer)03 Apr 2026
- Current report (foreign issuer)24 Mar 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / WEBUY GLOBAL LTD · 29 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.