Growth & profitability
- Revenue has grown 29.9% per year over the past 5 years.
- Operating margin has expanded, at -0.5% in the latest year.
- Free cash flow has grown 47.0% per year over the past 5 years.
GDYN Financials Grid Dynamics Holdings, Inc.
8 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $412M | $10M | 34.6% | -0.5% | $25M | — | $342M |
| 2024 | $351M | $4M | 36.2% | -0.6% | $18M | — | $335M |
| 2023 | $313M | -$2M | 36.2% | -1.8% | $33M | — | $257M |
| 2022 | $310M | -$29M | 38.8% | -6.8% | $26M | — | $257M |
| 2021 | $211M | -$8M | 41.5% | 0.0% | $13M | $0 | $144M |
| 2020 | $111M | -$13M | 37.4% | -13.9% | $4M | — | $113M |
| 2019 | $118M | $11M | 40.8% | 13.2% | $10M | — | $42M |
| 2018 | — | $9M | — | — | $8M | — | $1M |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $104M | -$1M | 34.8% | -3.5% | $4M | — | $327M |
| Dec '25 | $106M | $306000 | 34.0% | 0.5% | $6M | — | $342M |
| Sep '25 | $104M | $1M | 33.3% | -0.2% | $3M | — | $339M |
| Jun '25 | $101M | $5M | 34.1% | -0.1% | $10M | — | $337M |
| Mar '25 | $100M | $3M | 36.8% | -2.0% | $6M | — | $326M |
| Dec '24 | $100M | $5M | 36.9% | 1.3% | $4M | — | $335M |
| Sep '24 | $87M | $4M | 37.4% | 2.4% | $6M | — | $231M |
| Jun '24 | $83M | -$817000 | 35.6% | 0.0% | $8M | — | $256M |
| Mar '24 | $80M | -$4M | 34.7% | -6.9% | $43000 | — | $249M |
| Dec '23 | $78M | $3M | 36.0% | -1.4% | $5M | — | $257M |
| Sep '23 | $77M | $676000 | 36.4% | 0.2% | $9M | — | $254M |
| Jun '23 | $77M | $3M | 36.6% | 1.7% | $9M | — | $246M |
| Mar '23 | $80M | -$8M | 35.7% | -7.5% | $10M | — | $258M |
| Dec '22 | $81M | -$7M | 40.1% | -7.0% | $10M | — | $257M |
| Sep '22 | $81M | -$7M | 40.3% | -5.9% | $3M | — | $255M |
| Jun '22 | $77M | -$13M | 37.3% | -14.0% | $4M | — | $150M |
| Mar '22 | $71M | -$3M | 37.5% | 0.3% | $8M | $5M | $153M |
| Dec '21 | $67M | -$4M | 41.1% | -2.3% | $2M | $0 | $144M |
| Sep '21 | $58M | -$549000 | 43.6% | 3.4% | $7M | — | $199M |
| Jun '21 | $48M | -$1M | 41.5% | 2.9% | $3M | — | $68M |
Valuation over time
How the market has priced GDYN against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has fallen from 460.0× (Dec '24) to 45.2× (Jun '26).
- The price-to-sales ratio has fallen from 3.0× (Mar '23) to 1.1× (Jun '26).
P/E
P/S
Frequently asked questions
Is GDYN growing its revenue and profit?
Over the past 5 years, Grid Dynamics Holdings, Inc.'s revenue has grown 29.9% per year. These are computed facts, not advice.
How much debt does GDYN have?
As of FY2025, Grid Dynamics Holdings, Inc. reported — of total debt against $342M of cash.
What is GDYN's profit margin?
In FY2025, gross margin was 34.6%, operating margin -0.5%, and net margin 2.3%.
What is GDYN's P/E ratio?
As of Jun '26, Grid Dynamics Holdings, Inc. traded at a price-to-earnings ratio of about 45.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.