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Employees: 4,961
Size Grid Dynamics (GDYN) is a United States Information Technology company (Information Technology Services) with a market value of $1.05B, the 2216th largest of 3,117 United States companies the cockpit tracks. Shares closed at $13.10 on 6 Nov 2026.
Performance Over six months the shares gained 87.8%, against +4.4% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 6.6% over the last twelve months (peer median +4.5%); the operating margin is 3.6% (peer median 0.4%).
Valuation It trades at 21.8× forward earnings against a peer median of 16.5× (5th most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +30%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.9 points below its cost of capital (9.2% WACC).
Backlog Backlog (remaining performance obligations) was $600,000 at 30 Sep 2025, down 91% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $433M | $412M | $351M | $313M | $310M |
| Revenue growth | — | +17% | +12% | +1% | — |
| Gross profit | $158M | $142M | $127M | $113M | $121M |
| EBITDA | $42.7M | $27.1M | $22.1M | $8.03M | -$11.4M |
| Net income | $7.85M | $9.67M | $4.04M | -$1.76M | -$29.2M |
| Free cash flow | $26.3M | $25.0M | $18.4M | $33.2M | $25.3M |
| Capital expenditure | $14.1M | $15.3M | $11.8M | $7.87M | $6.07M |
| Total debt | $15.6M | $17.0M | $12.6M | $11.0M | $8.14M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GDYN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +63.5% | -1.0% | highest of 21 |
| 6-month return | +87.8% | +4.4% | 4th highest of 21 |
| Distance from 52-week high | -6.6% | -38.7% | 3rd highest of 21 |
| Revenue growth (TTM) | +6.6% | +4.5% | 9th highest of 21 |
| Operating margin | 3.6% | 0.4% | 9th highest of 21 |
| Forward P/E | 21.8× | 16.5× | 5th most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 27.8% | 6.1% | 2nd most demanding of 14 |
| Growth delivered (Del g) | +29.9% | +8.8% | highest of 13 |
| Hurdle (Req g minus delivered) | -2.1 pp | +1.9 pp | 6th least demanding of 13 |
| ROIC minus cost of capital | -3.9 pp | -5.2 pp | 9th highest of 20 |
| EV / EBITDA | 17.9× | 10.1× | 4th most expensive of 9 |
| Net debt / EBITDA | -6.8× | -0.9× | least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Grid Dynamics GDYN | United States | $1.05B | +88% | +7% | 4% | 21.8× | 27.8% | +29.9% |
| Wonders Information 300168.SZ | China | $1.05B | -16% | +3% | -17% | 487.0× | 51.6% | -7.6% |
| E2E Networks E2E.NS | India | $1.06B | +49% | +252% | 28% | 60.1× | n/a | n/a |
| China Reform Health Management & Services 000503.SZ | China | $1.03B | -11% | +6% | -45% | n/a | n/a | n/a |
| Systena 2317.T | Japan | $1.02B | +4% | +6% | 16% | 14.5× | -10.9% | +9.2% |
| Northsand,Inc 446A.T | Japan | $1.11B | +99% | +60% | 21% | 26.0× | 2.3% | n/a |
| Shenzhen Das Intellitech 002421.SZ | China | $996M | +5% | -17% | -17% | n/a | 14.8% | -8.8% |
| Rapid7 RPD | United States | $989M | +113% | 0% | 2% | 7.7× | 21.4% | +15.9% |
| Nagarro NA9.DE | Germany | $1.12B | +78% | +1% | 8% | 16.9× | 3.8% | +18.4% |
| Shanghai Ganglian E-Commerce 300226.SZ | China | $979M | -21% | +1% | 0% | 19.9× | 6.1% | +3.9% |
| DTS 9682.T | Japan | $1.14B | +14% | 0% | 12% | 15.5× | -9.1% | +8.4% |
| Strait Innovation Internet 300300.SZ | China | $964M | -23% | -8% | -66% | n/a | n/a | n/a |
| Nanjing Sciyon Wisdom Technology 002380.SZ | China | $957M | -22% | +7% | 12% | 16.2× | 11.3% | +17.4% |
| 4DMedical 4DX.AX | Australia | $952M | -33% | +21% | -814% | n/a | n/a | n/a |
| Insigma Technology 600797.SS | China | $943M | -28% | -13% | 0% | n/a | 20.0% | -2.9% |
| Asseco South Eastern Europe ASE.WA | Poland | $940M | +20% | +7% | 16% | 16.0× | -0.9% | +11.9% |
| Shanghai Fengyuzhu Culture Technology 603466.SS | China | $1.21B | +40% | -23% | -4% | 74.3× | n/a | n/a |
| Tanla Platforms TANLA.NS | India | $915M | +14% | +18% | 14% | 14.6× | 15.0% | +13.5% |
| ArcherMind Technology 300598.SZ | China | $906M | -24% | +7% | -5% | n/a | n/a | n/a |
| Taiji Computer 002368.SZ | China | $1.24B | -23% | -37% | -27% | n/a | 4.1% | -1.8% |
| Zhejiang Whyis Technology 301218.SZ | China | $1.27B | +147% | +23% | -15% | n/a | n/a | n/a |
Grid Dynamics reported $600,000 of remaining performance obligations at 30 Sep 2025, down 91% from a year earlier and down 54% from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 0.99.