Icar Asia (ICQ.AX) Stock Price

Icar Asia Price

Delisted

Over the last 10 years Icar Asia grew revenue by 106.4% annually, reaching 14.06 M AUD. For Icar Asia, the net margin of -75.9% is up versus -225.1% a few years ago.

Icar Asia stock price

Volume
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Stock Price

How to Read This Chart

This chart tracks the historical stock price of Icar Asia over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how Icar Asia stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing Icar Asia's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

Icar Asia Stock Price History
DateIcar Asia Price
Access this data via the Eulerpool API

Icar Asia Revenue, EBIT, Net Income

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Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2018
11.56 M AUD
-13.80 M AUD
-13.61 M AUD
Jan 1, 2019
14.84 M AUD
-10.24 M AUD
-10.79 M AUD
Jan 1, 2020
14.06 M AUD
-10.16 M AUD
-10.67 M AUD
Jan 1, 2021 (e)
18.58 M AUD
-11.32 M AUD
-8.93 M AUD
Jan 1, 2022 (e)
26.87 M AUD
-12.43 M AUD
-8.93 M AUD
Jan 1, 2023 (e)
35.15 M AUD
0.00 AUD
-4.46 M AUD
Jan 1, 2024 (e)
44.64 M AUD
0.00 AUD
-5.52 M AUD
Jan 1, 2025 (e)
50.95 M AUD
0.00 AUD
-6.91 M AUD

Icar Asia Income Statement, Balance Sheet, Cash Flow Statement

Last updated Jul 26, 2026, 1:18 PM
 
REVENUEM AUD
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMEM AUD
EBITM AUD
EBIT MARGIN%
NET INCOMEM AUD
NET INCOME GROWTH%
SHARESM
201020112012201320142015201620172018201920202021e2022e2023e2024e2025e
1.002.006.006.009.0011.0014.0014.0018.0026.0035.0044.0050.00
100.00200.0050.0022.2227.2728.5744.4434.6225.7113.64
100.00100.0083.33100.0088.89100.00100.0085.7185.7185.7185.7185.7185.71
12.0012.0012.001.002.005.006.008.0011.0014.0012.0015.4322.2930.0037.7142.86
-1.00-7.00-16.00-12.00-15.00-13.00-13.00-10.00-10.00-11.00-12.00
-700.00-800.00-200.00-250.00-144.44-118.18-71.43-71.43-61.11-46.15
-1.00-6.00-16.00-12.00-14.00-13.00-13.00-10.00-10.00-8.00-8.00-4.00-5.00-6.00
500.00166.67-25.0016.67-7.14-23.08-20.00-50.0025.0020.00
139.43139.4372.30168.45193.32230.84270.32324.59380.92406.83428.49428.49428.49428.49428.49428.49
Details

Income Statement Key Figures

Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales Icar Asia generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue Icar Asia retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare Icar Asia's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares Icar Asia has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against Icar Asia's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

Icar Asia stock margins

The Icar Asia margin analysis displays the gross margin, EBIT margin, as well as the profit margin of Icar Asia. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for Icar Asia.
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Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2016
97.16 %
-227.09 %
-225.10 %
Jan 1, 2017
97.74 %
-149.54 %
-146.82 %
Jan 1, 2018
99.24 %
-119.38 %
-117.74 %
Jan 1, 2019
96.13 %
-69.02 %
-72.68 %
Jan 1, 2020
90.92 %
-72.30 %
-75.90 %
Jan 1, 2021 (e)
90.92 %
-60.90 %
-48.04 %
Jan 1, 2022 (e)
90.92 %
-46.28 %
-33.23 %
Jan 1, 2023 (e)
90.92 %
0.00 %
-12.70 %

Icar Asia Stock Revenue, EBIT, Earnings per Share

The Icar Asia earnings per share therefore indicates how much revenue Icar Asia has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.
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Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2016
0.02 AUD
-0.06 AUD
-0.06 AUD
Jan 1, 2017
0.03 AUD
-0.04 AUD
-0.04 AUD
Jan 1, 2018
0.03 AUD
-0.04 AUD
-0.04 AUD
Jan 1, 2019
0.04 AUD
-0.03 AUD
-0.03 AUD
Jan 1, 2020
0.03 AUD
-0.02 AUD
-0.02 AUD
Jan 1, 2021 (e)
0.04 AUD
-0.03 AUD
-0.02 AUD
Jan 1, 2022 (e)
0.06 AUD
-0.03 AUD
-0.02 AUD
Jan 1, 2023 (e)
0.08 AUD
0.00 AUD
-0.01 AUD

Icar Asia business model & stock analysis

Icar Asia Ltd is a leading company in the online automotive market in Southeast Asia. The company was founded in 2012 and has since achieved remarkable success. It is headquartered in Kuala Lumpur, Malaysia, and also has branches in Thailand, Indonesia, and Vietnam. Business model: The main business of Icar Asia Ltd is the online automotive market. The company has two main products it offers - the automotive classifieds website Carlist.my and the car platform LiveLifeDrive.com. Carlist.my: Carlist.my is an online marketplace for cars in Southeast Asia. It is the most visited automotive website in Malaysia with over 1 million visitors per month. The website offers high-quality online content, including detailed descriptions and reviews of cars, as well as a comprehensive database of local car dealerships, service stations, and parts providers. LiveLifeDrive.com: LiveLifeDrive.com is a leading car platform in Indonesia and Thailand. It provides its users with up-to-date information on the automotive industry, including new cars, test drive reports, opinions, and maintenance tips. It also has a large number of users and offers a comprehensive selection of new cars, used cars, and motorcycles. Segments: Icar Asia Ltd has three main segments - Content, Marketplace, and Data. Each segment has its own role and utilizes its vital system to generate data and drive the automotive market in Southeast Asia. Content: The Content segment creates detailed and high-quality content related to cars. This content includes test drive reports, review videos, opinions, and interviews. The content is provided on all online platforms of Icar Asia Ltd and supports the two main products, Carlist.my and LiveLifeDrive.com. Marketplace: The Marketplace segment strives to provide solutions for the online automotive market. Icar Asia Ltd engages in conducting online marketing campaigns, performing data analysis procedures, and providing products and services that enhance communication between buyers and sellers. Data: The Data segment focuses on data processing. It collects and analyzes data from various sources to create trends and statistics for the automotive industry. This information helps sellers, buyers, and other stakeholders make proactive decisions. Products and services: Icar Asia Ltd offers a range of products and services tailored to the needs of the automotive industry in Southeast Asia. Some of the key products and services are: - Car search: An online platform that facilitates the search, evaluation, and purchase of cars. - Online marketing campaigns: Icar Asia Ltd helps companies promote their products and services through targeted online marketing campaigns. - Data analysis: Icar Asia Ltd offers data analysis procedures tailored to the needs of the automotive industry. These analyze market trends and data to make predictions. - Advertising on Carlist.my and LiveLifeDrive.com: Companies can rent advertising space on Icar Asia Ltd's two main products to promote their products and services. Conclusion: Icar Asia Ltd is a company that has established itself as a leader in the online automotive market in Southeast Asia. The company has written its success story with products like Carlist.my and LiveLifeDrive.com. These products have helped many stakeholders meet their needs and meet the demands of the automotive industry in Southeast Asia. With its strong presence in the region and innovative solutions, Icar Asia Ltd remains a key player in the Southeast Asian automotive market.

Icar Asia SWOT Analysis

Strengths

  • Established market presence and industry reputation
  • Strong brand recognition and customer loyalty
  • Extensive network of partnerships with dealers and manufacturers
  • Robust technology infrastructure and digital platforms

Weaknesses

  • Dependency on a limited number of markets
  • Vulnerability to economic downturns affecting automotive industry
  • Relatively high operating costs due to continuous technology investments
  • Limited diversification of revenue sources

Opportunities

  • Expansion into emerging markets with growing automotive industries
  • Leveraging data analytics for personalized marketing and offerings
  • Collaboration with manufacturers to develop innovative solutions
  • Increasing adoption of online car buying and selling

Threats

  • Intense competition from local and global online automotive platforms
  • Regulatory changes impacting automotive industry and digital platforms
  • Economic instability and market uncertainties
  • Rapid technological advancements disrupting traditional business models

Icar Asia Eulerpool Fair Value

Details

Fair Value Estimate

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

Icar Asia historical P/E ratio, EBIT multiple, and P/S ratio

Icar Asia annual returns

Details

Annual Return

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

Icar Asia shares outstanding

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Number of stocks
Details
Date
Number of stocks
Jan 1, 2016
270.32 M Stocks
Jan 1, 2017
324.59 M Stocks
Jan 1, 2018
380.92 M Stocks
Jan 1, 2019
406.83 M Stocks
Jan 1, 2020
428.49 M Stocks
Jan 1, 2021 (e)
428.49 M Stocks
Jan 1, 2022 (e)
428.49 M Stocks
Jan 1, 2023 (e)
428.49 M Stocks
Price targets and forecasts for Icar Asia are not yet available.

Icar Asia Earnings Estimates

DateEPS estimateRevenue EstimateQuarterly report
8/22/2019-0.01AUD7.21 MAUD2019 Q2

Icar Asia shareholder structure

% Name
20.24019%
Catcha Group Sdn. Bhd.
Catcha Group Sdn. Bhd.
17.90851%
Collins St Asset Management Pty Ltd
Collins St Asset Management Pty Ltd
11.87852%
ICQ Holdings Bhd.
ICQ Holdings Bhd.
11.39735%
Carsales.Com Ltd
Carsales.Com Ltd
8.24163%
PM CAPITAL Limited
PM CAPITAL Limited
2.26339%
Stone (Hamish)
Stone (Hamish)

Icar Asia Executives and Management Board

DR

Damon Shay Rielly

Chief Executive Officer · since 2012

Compensation725,849.00 AUD
JC

Joey Caisse

Chief Information Officer · since 2012

Compensation544,942.00 AUD
RB

Rod Brandenburg

Chief Financial Officer · since 2012

Compensation248,355.00 AUD
JD

Mr. Joe Dische

Group Chief Financial Officer · since 2014

Compensation218,073.00 AUD
YG

Mr. Y-Kin Grove

(40)

Non-Independent Non-Executive Director · since 2017

Compensation60,000.00 AUD

Icar Asia Supply Chain

Icar Asia Supply Chain

Correlation: how closely stock prices move together

Same directionNo relationOpposite
2 companies
#Name1M3M6M1Y2YTrend
1
0.34
0.22
0.68
0.80
2
Carsales.Com
Supplier
0.50
0.25
-0.66
-0.31

Frequently asked questions about Icar Asia

The business model of Icar Asia Ltd focuses on connecting automotive buyers and sellers through its online marketplace platform. As a leading online classifieds platform in Southeast Asia, Icar Asia Ltd offers a wide range of automotive-related services such as classified advertising, dealer subscription, and lead generation. By providing a convenient and efficient platform for automotive transactions, Icar Asia Ltd aims to facilitate the buying and selling process for both individual users and automotive dealers. With a strong presence in various markets across Southeast Asia, including Malaysia, Thailand, and Indonesia, Icar Asia Ltd continues to expand its services and deliver value to its customers in the automotive industry.

All fundamentals and in-depth analysis of Icar Asia

Our stock analysis for Icar Asia stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of Icar Asia. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.