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 Aug 7, 2026, 2:12 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 & Surprises

DateEPS estimateEPS ActualRevenue EstimatePrice reactionQuarterly report
8/22/2019-0.01AUD-7.21 MAUD-2019 Q2

Icar Asia shareholder structure

% Name
17.90851%
Collins St Asset Management Pty Ltd
Collins St Asset Management Pty Ltd
0.51827%
Chmiel (Georg)
Chmiel (Georg)

Icar Asia Executives and Management Board

25 members · avg. age 40 · 4 % women

DR

Damon Shay Rielly

Chief Executive Officer · since 2012

725,849.00 AUD

Management

JC

Joey Caisse

Chief Information Officer · since 2012

544,942.00 AUD
RB

Rod Brandenburg

Chief Financial Officer · since 2012

248,355.00 AUD
JD

Mr. Joe Dische

Group Chief Financial Officer · since 2014

218,073.00 AUD
HS

Mr. Hamish Stone

Chief Executive Officer, Director · since 2020

JA

Mr. Jonathan Adams

Chief Marketing Officer · since 2017

JN

Ms. Jamie Ng

Head of Events · since 2017

Board of Directors

YG

Mr. Y-Kin Grove (40)

Non-Independent Non-Executive Director · since 2017

60,000.00 AUD
GC

Mr. Georg Chmiel

Executive Chairman of the Board · since 2017

LE

Mr. Lucas Elliott (40)

Non-Independent Non-Executive Director · since 2012

PE

Mr. Peter Everingham

Non-Executive Director · since 2017

RK

Mr. Richard Kuo

Non-Executive Director · since 2017

SI

Mr. Syed Khalil Syed Ibrahim

Non-Executive Director · since 2016

Icar Asia Supply Chain

Icar Asia Supply Chain

Correlation: how closely stock prices move together

Same directionNo relationOpposite
2 companies
#NameTrend
1
HSBC Holdings
Supplier·Customer·Banks·GB
0.41
0.34
0.22
0.68
0.80
2
Carsales.Com
Supplier·Customer·Interactive Media & Services·AU
0.21
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.

Icar Asia Ltd is primarily active in the automotive and online classifieds industries.

The main competitors of Icar Asia Ltd in the market include prominent players such as Carsales.com Ltd and AutoTrader Group.

Icar Asia Ltd is a prominent company in the automotive industry, operating as a leading online classifieds platform in Southeast Asia, primarily focusing on vehicle sales. Established in 2013, the company quickly gained recognition and now operates in three countries: Malaysia, Indonesia, and Thailand. With its user-friendly interface and comprehensive database, Icar Asia Ltd has successfully created an online marketplace for individuals and businesses to buy and sell vehicles. Over the years, the company has grown exponentially, expanding its services and partnerships to cater to the evolving needs of the automotive market in the region. Icar Asia Ltd continues to play a pivotal role in revolutionizing the online automobile industry in Southeast Asia.

Icar Asia Ltd has achieved several significant milestones in its journey. One of the major accomplishments includes the successful expansion of its online automotive marketplaces in Southeast Asia, namely Malaysia, Indonesia, and Thailand. The company has witnessed remarkable growth, establishing itself as a leading digital marketplace for buying and selling new and used vehicles in these regions. Icar Asia Ltd has also forged strong partnerships with various automotive industry players, enhancing its market position and delivering extensive reach to its customers. These achievements signify Icar Asia Ltd's commitment to driving innovation and making a substantial impact in the online automotive industry.

Icar Asia Ltd is primarily present in the countries and regions of Malaysia, Thailand, and Indonesia.

Icar Asia Ltd represents a set of core values and a corporate philosophy that guides its operations. The company focuses on providing innovative technological solutions in the automotive industry. It is committed to delivering exceptional customer service and strives to create a seamless online marketplace for buying and selling vehicles. Icar Asia Ltd believes in fostering strong partnerships with automotive dealers, manufacturers, and advertisers to enhance overall customer experience. With a customer-centric approach, Icar Asia Ltd aims to continuously improve its services, increase transparency, and become a leading player in the automotive digital marketplace.

7 analysts currently rate the Icar Asia stock: 0 recommend buying, 3 holding and 4 selling.

Icar Asia Ltd is a leading online marketplace operator in Southeast Asia, providing its customers with a comprehensive platform for buying and selling vehicles. The company operates in various regions, including Malaysia, Indonesia, and Thailand, and operates successful brands such as Carlist, Livelifedrive, and Mobil123. The business model of Icar Asia is based on building growth and customer experience by providing platforms that offer customers an easier and better way to buy or sell their vehicles online. The company works closely with its customers to understand their needs and requirements and present corresponding offers. Icar Asia's portfolio includes various offerings tailored to the needs of different target groups. The main divisions of the company are offerings for private customers, dealers, and automobile manufacturers. The private customer division offers various platforms for consumers, including Carlist and Livelifedrive. These platforms allow customers to buy or sell vehicles online by offering a wide range of vehicles and accessories on a user-friendly platform. In addition, Icar Asia offers an independent valuation service that helps increase trust between buyers and sellers. The dealer division offers dealers various platforms on which they can showcase, sell, or buy vehicles. With platforms like Carlist-Dealer and Mobil123-Dealer, dealers can effectively reach their customers and expand their business. The automobile manufacturer division offers customized solutions for automobile manufacturers to improve their marketing and sales activities. This includes the development of special websites and applications to provide customers with seamless access to product details and manufacturer offers. In recent years, Icar Asia has also launched various new products to expand its offering and grow its business. These include products such as knowledge databases, training programs, and financial and insurance services. Overall, Icar Asia's business model is based on the core principles of effectiveness, innovation, and customer satisfaction. The company pursues a wide range of offerings and services aimed at providing customers with better quality and a better experience. By combining user-friendly platforms, understanding customer needs, and constantly evolving products and services, the company is able to build a strong and growing customer and dealer base in various regions of Southeast Asia. Overall, Icar Asia is a fascinating company focused on improving online vehicle trading. The company has focused on the needs of different target groups and developed a wide range of platforms and services to provide customers with a better experience. With the growing importance of the online market in Southeast Asia and the impressive success of Icar Asia as a leading marketplace operator, the company will undoubtedly play an important role in the future.

The revenue cannot currently be calculated for Icar Asia.

The profit cannot currently be calculated for Icar Asia.

The P/E ratio cannot be calculated for Icar Asia at the moment.

The P/S cannot be calculated for Icar Asia currently.

The Eulerpool Quality Score for Icar Asia is 4/10.

The ISIN of Icar Asia is AU000000ICQ8. The ISIN (International Securities Identification Number) is a globally unique identifier for securities.

The ticker of Icar Asia is ICQ.AX. The ticker symbol is used to trade Icar Asia shares on the stock exchange.

Icar Asia is assigned to the 'Communication' sector.

The dividends of Icar Asia are distributed in AUD.

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.