Saturday 17 October 2026 Export GDYN’s income statement to Excel — free account

Grid Dynamics Holdings, Inc.

GDYN Technology Information Technology Services

Grid Dynamics Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $411.8 million, up 17.5% from fiscal 2024. In the quarter to June 2026, revenue grew 6.99%, EPS fell 50.0% and free cash flow fell 75.3%, each against the same quarter a year earlier. Revenue growth for five consecutive years.

7.78 0.23 −2.87%

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Market cap: $649.8M
P/E: 284×
Fwd P/E: 62.4×
Dividend yield: —
F-score: 7/9
Altman Z: 7.88
Beneish M: −2.53
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 1.10

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	6	3	—	1	1	1	1	1	2	1	2

Insider Ownership 24.47%

Capital & Financial Ratios $m

Market Cap 649.82

Revenue 422.58

Net Income 2.86

Free Cash Flow 16.00

Net Debt (298.43)

Current Ratio 7.22

Debt/Equity 0.00

P/E ratio 283.94

Fwd P/E 62.40

P/S ratio 1.51

P/B ratio 1.23

Past 5Y EPS Growth —

This Y EPS Growth 16.50%

Next Y EPS Growth 12.83%

Next Y revenue growth 6.38%

Next 5Y EPS Growth 12.13%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 76.68%

10-year low 10-year high

P/S against its own 10 years 9.25%

10-year low 10-year high

P/B against its own 10 years 8.25%

10-year low 10-year high

EV/Sales against its own 10 years 10.36%

10-year low 10-year high

EV/FCF against its own 10 years 36.50%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	257	335	342	298
Receivables	54	69	79	96
Inventory	—	—	—	—
Other	—	—	—	—
	324	423	440	410

	2023	2024	2025	Q'26
Payables	4	4	4	5
ST’ Debt	—	—	—	—
Other	—	—	—	16
	42	56	52	57

Compound Annual Growth %

	10y	5y	3y
Sales	13.28%	29.91%	9.87%
Cash Flow	12.47%	46.91%	8.65%
Earnings	(0.76%)	0.00%	0.00%
Book Value	23.97%	29.00%	14.30%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	104	108	—	—	—
’25	100	101	104	106	412
’24	80	83	87	100	351
’23	80	77	77	78	313
’22	71	77	81	81	310
’21	39	48	58	67	211
’20	32	22	26	30	111

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	8	6	—	—	—
’25	9	14	7	10	41
’24	3	11	9	7	30
’23	12	11	11	8	41
’22	10	6	4	12	32
’21	3	4	8	3	18
’20	(3)	2	4	3	6

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	4	3	—	—	—
’25	6	10	3	6	25
’24	0	8	6	4	18
’23	10	9	9	5	33
’22	8	4	3	10	26
’22	—	—	—	—	31
’21	2	3	7	2	13

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.02)	0.03	—	—	—
’25	0.03	0.06	0.01	0.00	0.11
’24	(0.05)	(0.01)	0.05	0.05	0.05
’23	(0.11)	0.03	0.01	0.04	(0.02)
’22	(0.04)	(0.20)	(0.10)	(0.09)	(0.42)
’21	(0.04)	(0.03)	(0.01)	(0.05)	(0.13)
’20	(0.16)	(0.04)	(0.02)	(0.10)	(0.28)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	9.50	9.65	4.61	11.97	9.09	8.00	9.07	7.37	Analyst estimates 2026–2028 Powerpack
	High	—	—	10.28	11.10	13.51	42.81	39.67	14.24	24.16	25.50
People
People	Employees	—	—	2	2	1,894	3,274	3,798	3,920	4,730	4,961
	Revenue/emp, $m	—	—	45.93	59.16	0.06	0.06	0.08	0.08	0.07	0.08
Income, $m
Income, $m	Revenue	—	—	92	118	111	211	310	313	351	412
	Gross margin, %	—	—	42.79	40.77	37.40	41.52	38.84	36.16	36.23	34.56
	EBT	—	—	13	15	(15)	(2)	(20)	5	11	16
	EBT margin, %	—	—	14.24	13.06	(13.67)	(1.16)	(6.59)	1.55	3.15	3.81
	Net income	—	0	9	11	(13)	(8)	(29)	(2)	4	10
	Depreciation	—	—	1	2	3	5	10	12	19	25
Per share, $
Per share, $	Revenue	—	—	4.54	5.60	2.49	3.60	4.49	4.16	4.53	4.87
	Earnings	—	—	0.46	0.51	(0.28)	(0.13)	(0.42)	(0.02)	0.05	0.11
	Cash flow	—	—	0.52	0.59	0.13	0.31	0.46	0.55	0.39	0.48
	Capex	—	—	(0.15)	(0.13)	(0.05)	(0.08)	(0.09)	(0.10)	(0.15)	(0.18)
	Free cash flow	—	—	0.37	0.46	0.08	0.23	0.37	0.44	0.24	0.30
	Book value	—	—	0.25	2.56	3.39	3.87	5.25	5.09	6.68	6.41
	Shares, m	—	—	20	21	45	59	69	75	77	85
Valuation, ×
Valuation, ×	P/E	—	—	88.16	21.01	0.00	0.00	0.00	0.00	370.67	84.08
	P/S	—	—	0.00	1.94	5.07	10.54	2.50	3.15	4.91	1.85
	P/B	—	—	9.68	4.24	3.72	9.81	2.14	2.57	3.33	1.41
	EV/Sales	—	—	0.00	1.58	4.05	9.86	1.69	2.34	3.97	1.03
	EV/FCF	—	—	0.00	19.23	122.54	157.13	20.53	22.07	75.57	16.87
Cash, $m
Cash, $m	Operating cash flow	—	—	11	13	6	18	32	41	30	41
	Capex	—	—	(3)	(3)	(2)	(5)	(6)	(8)	(12)	(15)
	Free cash flow	—	—	8	10	4	13	26	33	18	25
Balance, $m
Balance, $m	Working capital	—	—	1	58	121	167	284	282	368	387
	Total debt	—	—	—	—	—	—	8	—	—	—
	Net debt	—	—	(1)	(42)	(113)	(144)	(257)	(257)	(335)	(342)
	Shareholders’ equity	—	—	5	54	152	227	363	383	518	542
Returns, %
Returns, %	ROA	—	—	4.15	7.10	(10.56)	(3.63)	(8.75)	(0.42)	0.79	1.60
	ROIC	—	—	216.68	82.38	(24.77)	0.04	(12.35)	(2.77)	(0.72)	(0.59)
	ROE	—	—	8.42	35.33	(12.25)	(4.07)	(9.90)	(0.47)	0.90	1.82

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
CLVT Clarivate PLC	$1.1B	— (loss-making)	— (loss-making)	−5.49% (below 0%: shrinking)	n/m	−12.52% (below 0%: shrinking)	68.41%	(34.09%)	Compare
VYX NCR Voyix Corporation	$1.0B	18.4×	346×	−20.76% (below 0%: shrinking)	n/m	+91.55% (above 0%: growing)	29.83%	2.68%	Compare
TDTH Trident Digital Tech Holdings Ltd	$940.0M	—	—	—	—	—	—	—	Compare
NABL N-able, Inc.	$869.0M	— (loss-making)	34.4×	+5.90% (above 0%: growing)	n/m	−19.43% (below 0%: shrinking)	76.83%	11.92%	Compare
TASK TaskUs, Inc.	$781.2M	6.9×	6.4×	+5.02% (above 0%: growing)	+9.09% (above 0%: growing)	+85,705.26% (above 0%: growing)	34.69%	10.79%	Compare
GDYN Grid Dynamics Holdings, Inc.	$649.8M	284×	62.4×	+6.99% (above 0%: growing)	−50.00% (below 0%: shrinking)	−75.27% (below 0%: shrinking)	36.63%	1.18%
IBEX IBEX Limited	$609.6M	13.2×	7.8×	+11.64% (above 0%: growing)	−9.72% (below 0%: shrinking)	−4.91% (below 0%: shrinking)	28.56%	5.98%	Compare
WYFI WhiteFiber, Inc.	$505.4M	— (loss-making)	— (loss-making)	+54.53% (above 0%: growing)	n/m	−5.87% (below 0%: shrinking)	59.40%	(32.09%)	Compare
VRRM VERRA MOBILITY CORP	$446.8M	10.6×	5.1×	+11.68% (above 0%: growing)	n/m	−19.16% (below 0%: shrinking)	54.92%	(12.44%)	Compare
Median of peers	$825.1M	11.9×	7.8×	+5.90%	—	−5.87%	54.92%	2.68%

All 73 Information Technology Services stocks →

Grid Dynamics Holdings, Inc. (GDYN) key facts

Strength: Grid Dynamics Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $411.8 million, up 17.5% from fiscal 2024.
Grid Dynamics Holdings, Inc. (GDYN) is an Information Technology Services company in the Technology sector, listed on Nasdaq.
As of October 16, 2026, GDYN traded at $7.78, a market capitalization of $649.8 million.
Return on equity was 1.82% and debt-to-equity 0.00.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 7.88 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.