Grid Dynamics HOLDINGS, Inc. (GDYN) intrinsic value & 10-year financials
Grid Dynamics HOLDINGS, Inc. (GDYN) has a Graham intrinsic value of $3.65 per share. At $7.79 on Oct 17, 2026, the stock trades 113% above that value. Over the last 9 fiscal years revenue grew 23.9% a year to $411.8M, with an average return on invested capital of -14.7%.
- Graham intrinsic value
- $3.65
- Share price (Oct 17, 2026)
- $7.79
- Price vs Graham value
- 113% above
- Market cap
- $676.9M
- Revenue (FY2025)
- $411.8M
- Revenue growth (9-yr CAGR)
- 23.9%
- ROIC (10-yr avg)
- -14.7%
- Free cash flow (FY2025)
- $25.3M
GDYN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $411.8M | $9.7M | $0.11 | $25.3M | -0.5% | -0.6% |
| FY2024 | $350.6M | $4.0M | $0.05 | $18.4M | -0.6% | -0.7% |
| FY2023 | $312.9M | -$1.8M | -$0.02 | $33.2M | -1.8% | -2.3% |
| FY2022 | $310.5M | -$29.2M | -$0.42 | $25.6M | -6.8% | -21.6% |
| FY2021 | $211.3M | -$7.7M | -$0.13 | $13.3M | 0.0% | 0.1% |
| FY2020 | $111.3M | -$12.6M | -$0.00 | $3.7M | -13.9% | -16.3% |
| FY2019 | $118.3M | -$3.3M | $0.00 | -$5.8M | -6.0% | -142.9% |
| FY2018 | $91.9M | $9.2M | $0.00 | $7.5M | 15.1% | 66.4% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
GRID DYNAMICS HOLDINGS, INC. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
GRID DYNAMICS HOLDINGS, INC. has historically struggled to out-earn its cost of capital, averaging just -14.7% ROIC.
GRID DYNAMICS HOLDINGS, INC. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, GRID DYNAMICS HOLDINGS, INC. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $3.65 per share.