Grid Dynamics Holdings, Inc. GDYN R2K

Technology · Information Technology Services · United States

https://www.griddynamics.com

Grid Dynamics Holdings, Inc., together with its subsidiaries, provides enterprise artificial intelligence and digital transformation services in North America, Europe, and internationally. The company offers artificial intelligence services, such as AI-Readiness through strategy consulting, data modernization, rapid and deployment-ready prototyping, and software development lifecycle transformation; identify AI use cases service, which deploys AI in customer-facing, operational, and knowledge management scenarios; AI infrastructure agentic systems; and enterprise AI scale, which helps enterprises gain enterprise-wide efficiency with deployment. It also provides cloud platform and product engineering services, including digital engagement, which delivers modular composable commerce platforms; IoT and edge computing, which assists manufacturers and logistics providers in implementing physical AI; and AI and data platforms. The company serves retail, technology, media and telecom, finance, consumer packaged goods and manufacturing, healthcare and pharma, and other verticals. Grid Dynamics Holdings, Inc. was founded in 2006 and is headquartered in San Ramon, California.

Market & Price

Market Cap

$602.11M

Current Price

$7.20

High / Low (52W)

$12.53 / $5.28

Beta

0.86

Valuation

Stock P/E

120.00

Industry PE

32.74

Forward P/E

13.43

PEG Ratio

Book Value

$6.34

Price to Book

1.13

P/S

1.45

EV/EBITDA

13.03

Dividend Yield

Profitability & Returns

ROCE

-0.28%

ROE

1.01%

ROA

0.23%

Profit Margin

1.27%

Op Margin

-1.95%

EPS (Latest Qtr)

$-0.02

EPS (TTM)

$0.06

Balance Sheet & Liquidity

Debt/Equity

3.29

Quick Ratio

7.56

Current Ratio

7.88

Debt

$17.42M

Total Assets

$612.89M

Current Assets

$439.53M

Working Capital

$387.42M

Ownership

Promoter Holding

22.80%

Chg in Prom Hold

FII / Inst Holding

82.82%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

$292.06M

Total Revenue (TTM)

$415.51M

EBITDA

$22.41M

Free Cash Flow

$26.81M

Operating Cash Flow

$39.64M

Shares Outstanding

83.63M

Gross Margin

34.07%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

9.87%

Profit 5Y

44.36%

Revenue (YoY)

3.70%

Earnings (YoY)

PROS

Profit CAGR of 44.4% over 5 years.
Generates positive free cash flow.

CONS

Trading at a high P/E of 120.0.
Trading 42.5% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	GDYN Grid Dynamics Holdings, Inc. R2K	7.20	120.00	$602.11M	-	-0.28%	1.01%	9.87%	44.36%
2	NVDA NVIDIA Corporation NDXSPXAI	211.14	32.38	$5.11T	0.47%	81.14%	114.29%	100.05%	201.80%
3	AAPL Apple Inc. NDXSPX	312.06	37.73	$4.58T	0.35%	68.72%	141.47%	1.81%	3.92%
4	MSFT Microsoft Corporation NDXSPXAI	450.24	26.82	$3.34T	0.81%	26.37%	34.01%	12.42%	11.87%
5	TSM Taiwan Semiconductor Manufacturing Company Limited AI	418.45	35.86	$2.17T	0.91%	32.04%	36.21%	18.94%	19.57%
6	MU Micron Technology, Inc. NDXSPXAI	971.00	45.87	$1.10T	0.06%	14.20%	39.82%	6.71%	-0.57%
7	AMD Advanced Micro Devices, Inc. NDXSPXAI	516.10	172.61	$841.55B	-	6.33%	8.06%	13.64%	48.64%
8	ORCL Oracle Corporation SPXAI	225.78	40.46	$649.35B	0.89%	13.07%	57.57%	10.59%	22.81%
9	ASML ASML Holding N.V. NDXAI	1,612.76	53.76	$621.59B	0.54%	43.81%	52.24%	15.55%	19.55%

Quarterly Results

Figures in USD.

Metric	Sep 2018	Mar 2019	Jun 2019	Sep 2019	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	26.33M	39.13M	47.68M	57.93M	71.41M	77.33M	81.16M	80.08M	77.34M	77.42M	79.82M	83.04M	-	100.42M	101.09M	104.16M	106.15M	104.10M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	63.42M	66.59M	69.45M	70.02M	67.87M
Gross Profit	-	10.35M	11.43M	13.80M	9.82M	8.39M	11.15M	15.34M	19.80M	25.27M	26.78M	28.86M	32.67M	28.57M	28.30M	28.15M	27.66M	29.56M	-	37.00M	34.50M	34.71M	36.14M	36.23M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39.03M	34.63M	34.95M	35.33M	39.91M
Operating Income	-33	-317.21K	4.84M	5.58M	-7.03M	-3.19M	-1.67M	-1.78M	1.38M	1.97M	203.00K	-10.85M	-4.75M	-5.99M	1.33M	143.00K	-5.54M	40.00K	-	-2.04M	-123.00K	-241.00K	806.00K	-3.68M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.92M	6.01M	6.08M	7.19M	2.83M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.47M	7.30M	3.12M	2.81M	-440.00K
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-443.00K	2.03M	1.95M	2.50M	1.03M
Net Income	-33	712.00K	3.54M	4.45M	-4.60M	-2.17M	-1.12M	-2.06M	-1.48M	-549.00K	-2.67M	-13.19M	-6.66M	-7.97M	2.63M	676.00K	-3.95M	-817.00K	-	2.91M	5.27M	1.18M	306.00K	-1.47M
Diluted EPS	-	0.04	0.16	0.20	-0.16	-0.04	-0.02	-0.04	-0.03	-0.01	-0.04	-0.20	-0.10	-0.11	0.03	0.01	-0.05	-0.01	-	0.03	0.06	0.01	0.00	-0.02
R&D Expense	-	1.54M	656.00K	1.08M	2.54M	2.58M	2.08M	1.78M	1.77M	2.13M	3.10M	3.84M	4.14M	4.20M	3.27M	3.40M	4.37M	4.13M	4.45M	6.49M	6.74M	5.76M	-	6.08M

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	118.33M	111.28M	-	310.48M	312.91M	350.57M	411.83M
Cost of Revenue	-	-	-	-	189.89M	199.76M	223.57M	269.48M
Gross Profit	39.31M	48.24M	41.62M	-	120.59M	113.15M	127.00M	142.35M
Operating Expenses	-	-	-	-	141.60M	117.73M	126.71M	143.94M
Operating Income	13.83M	15.62M	-15.45M	-	-21.01M	-4.58M	295.00K	-1.59M
EBITDA	-	-	-	-	-11.36M	7.54M	19.03M	23.21M
Interest Expense	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-20.45M	4.84M	11.05M	15.70M
Tax Provision	-	-	-	-	8.76M	6.60M	7.01M	6.03M
Net Income	9.23M	10.81M	-12.60M	-	-29.21M	-1.76M	4.04M	9.67M
Diluted EPS	0.46	0.49	-0.28	-	-0.42	-0.02	0.05	0.11
R&D Expense	2.64M	4.35M	9.31M	8.46M	15.77M	14.74M	18.35M	23.66M

Compounded Sales Growth

5 Years:	9.87%
1 Year:	3.70%

Compounded Profit Growth

5 Years:	44.36%
1 Year:	-

Stock Price Performance

1 Year:	-42.54%
6 Months:	-17.62%
3 Months:	+6.67%
1 Month:	+28.34%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	222.36M	71.53M	167.13M	-	411.15M	435.17M	592.19M	612.89M
Current Assets	-	-	-	-	-	323.13M	323.98M	423.30M	439.53M
Cash & Equivalents	-	1.01M	42.19M	112.75M	-	256.73M	257.23M	334.65M	342.06M
Inventory	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	48.36M	49.82M	64.75M	71.26M
Total Liabilities	-	8.15M	8.30M	15.41M	-	48.10M	52.26M	74.36M	70.82M
Current Liabilities	-	445.12K	8.30M	13.32M	-	38.71M	42.22M	55.54M	52.11M
Long Term Debt	-	-	-	-	-	-	-	-	-
Total Debt	-	-	-	-	-	8.14M	11.00M	12.62M	17.04M
Total Equity	24.39M	33.38M	54.04M	151.72M	-	363.04M	382.91M	517.83M	542.07M
Shares Outstanding	-	-	-	-	-	74.16M	75.89M	83.61M	84.84M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	10.58M	12.53M	5.93M	-	31.65M	41.09M	30.20M	40.60M
Investing Cash Flow	-3.08M	-2.81M	-18.34M	-	-16.32M	-25.95M	-51.30M	-15.14M
Financing Cash Flow	-	14.60M	82.97M	-	97.76M	-16.32M	101.16M	-19.94M
Capital Expenditure	-3.08M	-2.81M	-2.25M	-	-6.07M	-7.87M	-11.77M	-15.33M
Free Cash Flow	7.50M	9.72M	3.68M	-	25.58M	33.22M	18.43M	25.27M
Net Change in Cash	-	-	-	-	113.09M	-1.18M	80.06M	5.53M
Share Buybacks	-	0	123.86M	0	0	0	0	2.00M
Dividends Paid	-	2.00M	0	0	-	-	-	-

Ratios (Annual)

Figures in %.

Metric	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	40.8%	37.4%	-	38.8%	36.2%	36.2%	34.6%
Operating Margin %	-	13.2%	-13.9%	-	-6.8%	-1.5%	0.1%	-0.4%
Net Margin %	-	9.1%	-11.3%	-	-9.4%	-0.6%	1.2%	2.3%
ROE %	27.6%	20.0%	-8.3%	-	-8.0%	-0.5%	0.8%	1.8%
ROCE %	6.2%	24.7%	-10.0%	-	-5.6%	-1.2%	0.1%	-0.3%

Shareholding Pattern

Insiders

22.80%

Institutions

82.82%

Public Float

107.29%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	14.09%	11.78M	$84.83M
2	Alyeska Investment Group, L.p.	6.28%	5.25M	$37.83M
3	BAMCO Inc.	3.59%	3.00M	$21.60M
4	State Street Corporation	3.49%	2.92M	$21.00M
5	Vanguard Capital Management LLC	3.37%	2.82M	$20.32M
6	Vanguard Portfolio Management LLC	3.32%	2.78M	$20.02M
7	T. Rowe Price Investment Management, Inc.	3.07%	2.57M	$18.48M
8	Alliancebernstein L.P.	2.72%	2.27M	$16.37M
9	Morgan Stanley	2.24%	1.87M	$13.46M
10	Geode Capital Management, LLC	1.92%	1.61M	$11.59M

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