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GRID DYNAMICS HOLDINGS, INC. GDYN

Nasdaq · stock · Services-Prepackaged Software · website · IPO 2018-10-10 · LEI

GRID DYNAMICS HOLDINGS, INC. statistics & valuation

Market cap$457.4M
P / E47.3×
P / S1.1×
P / B0.8×
P / FCF18.1×
Net margin2.3%
FCF margin6.1%
Return on capital-0.3%
Graham number -49.6%$3.93

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($3.93); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
10.00% 9.10% -11.30% -3.60% -9.40% -0.60% 1.20% 2.30% 20182019202020212022202320242025
Gross margin (%)
42.80% 40.80% 37.40% 41.50% 38.80% 36.20% 36.20% 34.60% 20182019202020212022202320242025
Operating margin (%)
15.10% 13.20% -13.90% 0.00% -6.80% -1.80% -0.60% -0.50% 20182019202020212022202320242025
Return on equity (%)
27.60% 20.00% -8.30% -3.40% -8.00% -0.50% 0.80% 1.80% 20182019202020212022202320242025
Shares outstanding
20217 21.6M 50.9M 66.9M 74.2M 75.9M 83.6M 86.9M 20182019202020212022202320242025
Net debt ($)
-$144.4M 20182019202020212022202320242025
Share buybacks ($)
20182019202020212022202320242025
Return on assets (%)
4.10% 15.10% -7.50% -3.00% -7.10% -0.40% 0.70% 1.60% 20182019202020212022202320242025
Free cash flow margin (%)
8.20% 8.20% 3.30% 6.30% 8.20% 10.60% 5.30% 6.10% 20182019202020212022202320242025
Debt / equity (×)
0.00× 20182019202020212022202320242025
EPS ($)
$0.46 $0.49 -$0.28 -$0.13 -$0.42 -$0.02 $0.05 $0.11 20182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

GRID DYNAMICS HOLDINGS, INC. trades at about 70.8× earnings — near its 10-year norm (10-year range 21.1×–451.8×, median 75.2×).

21.1× 451.8×

Shaded band = 10-year range (21.1×–451.8×); dot = today's 70.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Gross margin34.6%36.2%36.2%38.8%41.5%37.4%40.8%42.8%
Operating margin-0.5%-0.6%-1.8%-6.8%0.0%-13.9%13.2%15.1%
Net margin2.3%1.2%-0.6%-9.4%-3.6%-11.3%9.1%10.0%
FCF margin6.1%5.3%10.6%8.2%6.3%3.3%8.2%8.2%
Return on assets1.6%0.7%-0.4%-7.1%-3.0%-7.5%15.1%4.1%
Return on equity1.8%0.8%-0.5%-8.0%-3.4%-8.3%20.0%27.6%
Debt / equity0.00×
Current ratio8.437.627.678.357.6110.117.952.71

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.