As of the latest data point in Q4'25, GRAB's Operating ROA stands at 1.28%, with ROE at 2.27% and ROIC at 2.15%. This marks a notable improvement across all three profitability metrics compared to earlier quarters in the period from Q1'23 to Q4'25. Over the observed timeframe, the chart reveals a clear upward trend for ROA, ROE, and ROIC, all of which started in negative territory in early 2023. After a period of gradual improvement and some volatility—particularly with brief returns to negative values in early 2024—all three metrics turned positive by late 2024 and continued to strengthen into 2025. The most significant inflection point occurred between Q4'23 and Q1'24, where temporary setbacks were quickly reversed, leading to sustained positive momentum and culminating in the highest values at the end of the period.