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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%
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 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 283.94 (above 35: high)
Fwd P/E 62.40 (above 35: high)
P/S ratio 1.51
P/B ratio 1.23
Past 5Y EPS Growth —
This Y EPS Growth 16.50% (at or above 15%: strong)
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
EV/Sales is 0.8×, against a ten-year median of 2.1×; over the ten years it ranged from 0.4× in 2026 to 12.9× in 2021.
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.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Grid Dynamics Holdings, Inc. vs peers in Information Technology Services (Q) = latest quarter vs a year earlier

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.

Grid Dynamics Holdings, Inc. (GDYN) Latest News

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stockrow.com/GDYN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com