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GRID DYNAMICS HOLDINGS INC (GDYN) Stock Fundamental Analysis

NASDAQ:GDYN - Nasdaq - US39813G1094 - Common Stock - Currency: USD

21.37  +0.89 (+4.35%)

After market: 21.2 -0.17 (-0.8%)

Fundamental Rating

4

Overall GDYN gets a fundamental rating of 4 out of 10. We evaluated GDYN against 82 industry peers in the IT Services industry. No worries on liquidiy or solvency for GDYN as it has an excellent financial health rating, but there are worries on the profitability. GDYN is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year GDYN was profitable.
In the past year GDYN had a positive cash flow from operations.
GDYN had negative earnings in each of the past 5 years.
GDYN had a positive operating cash flow in 4 of the past 5 years.
GDYN Yearly Net Income VS EBIT VS OCF VS FCFGDYN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 0 20M -20M 40M

1.2 Ratios

The Return On Assets of GDYN (0.51%) is comparable to the rest of the industry.
GDYN's Return On Equity of 0.60% is in line compared to the rest of the industry. GDYN outperforms 53.85% of its industry peers.
Industry RankSector Rank
ROA 0.51%
ROE 0.6%
ROIC N/A
ROA(3y)-3.5%
ROA(5y)-3.9%
ROE(3y)-3.97%
ROE(5y)-17.24%
ROIC(3y)N/A
ROIC(5y)N/A
GDYN Yearly ROA, ROE, ROICGDYN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 0 -20 -40 -60

1.3 Margins

With a Profit Margin value of 0.74%, GDYN perfoms like the industry average, outperforming 51.28% of the companies in the same industry.
GDYN has a Gross Margin (35.96%) which is in line with its industry peers.
GDYN's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM N/A
PM (TTM) 0.74%
GM 35.96%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.1%
GM growth 5YN/A
GDYN Yearly Profit, Operating, Gross MarginsGDYN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20 30 40

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8

2. Health

2.1 Basic Checks

GDYN does not have a ROIC to compare to the WACC, probably because it is not profitable.
There is no outstanding debt for GDYN. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
GDYN Yearly Shares OutstandingGDYN Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 20M 40M 60M
GDYN Yearly Total Debt VS Total AssetsGDYN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M

2.2 Solvency

GDYN has an Altman-Z score of 14.59. This indicates that GDYN is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of GDYN (14.59) is better than 96.15% of its industry peers.
GDYN has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF 0
Altman-Z 14.59
ROIC/WACCN/A
WACC10.61%
GDYN Yearly LT Debt VS Equity VS FCFGDYN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 0 100M 200M 300M

2.3 Liquidity

A Current Ratio of 5.96 indicates that GDYN has no problem at all paying its short term obligations.
GDYN has a Current ratio of 5.96. This is amongst the best in the industry. GDYN outperforms 97.44% of its industry peers.
GDYN has a Quick Ratio of 5.96. This indicates that GDYN is financially healthy and has no problem in meeting its short term obligations.
The Quick ratio of GDYN (5.96) is better than 97.44% of its industry peers.
Industry RankSector Rank
Current Ratio 5.96
Quick Ratio 5.96
GDYN Yearly Current Assets VS Current LiabilitesGDYN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 100M 200M 300M

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4

3. Growth

3.1 Past

GDYN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 15.62%, which is quite good.
The Earnings Per Share has been growing slightly by 0.92% on average over the past years.
EPS 1Y (TTM)15.62%
EPS 3Y0.92%
EPS 5YN/A
EPS Q2Q%71.43%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%28.45%

3.2 Future

GDYN is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 22.29% yearly.
The Revenue is expected to grow by 17.54% on average over the next years. This is quite good.
EPS Next Y17.99%
EPS Next 2Y22.29%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year18.16%
Revenue Next 2Y17.54%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
GDYN Yearly Revenue VS EstimatesGDYN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 100M 200M 300M 400M
GDYN Yearly EPS VS EstimatesGDYN Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.1 0.2 0.3 0.4 0.5

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 57.76, which means the current valuation is very expensive for GDYN.
The rest of the industry has a similar Price/Earnings ratio as GDYN.
Compared to an average S&P500 Price/Earnings ratio of 29.63, GDYN is valued quite expensively.
With a Price/Forward Earnings ratio of 48.95, GDYN can be considered very expensive at the moment.
GDYN's Price/Forward Earnings ratio is in line with the industry average.
The average S&P500 Price/Forward Earnings ratio is at 22.68. GDYN is valued rather expensively when compared to this.
Industry RankSector Rank
PE 57.76
Fwd PE 48.95
GDYN Price Earnings VS Forward Price EarningsGDYN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of GDYN indicates a slightly more expensive valuation: GDYN is more expensive than 66.67% of the companies listed in the same industry.
The rest of the industry has a similar Price/Free Cash Flow ratio as GDYN.
Industry RankSector Rank
P/FCF 92.41
EV/EBITDA 188.89
GDYN Per share dataGDYN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3 4

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
A more expensive valuation may be justified as GDYN's earnings are expected to grow with 22.29% in the coming years.
PEG (NY)3.21
PEG (5Y)N/A
EPS Next 2Y22.29%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

No dividends for GDYN!.
Industry RankSector Rank
Dividend Yield N/A

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GRID DYNAMICS HOLDINGS INC

NASDAQ:GDYN (2/21/2025, 8:23:17 PM)

After market: 21.2 -0.17 (-0.8%)

21.37

+0.89 (+4.35%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Earnings (Last)02-20 2025-02-20/amc
Earnings (Next)04-30 2025-04-30/amc
Inst Owners75.72%
Inst Owner Change27.39%
Ins Owners6.28%
Ins Owner Change-1.88%
Market Cap1.78B
Analysts83.64
Price Target21.01 (-1.68%)
Short Float %5.16%
Short Ratio3.28
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)7%
Min EPS beat(2)6.76%
Max EPS beat(2)7.23%
EPS beat(4)2
Avg EPS beat(4)0.07%
Min EPS beat(4)-10.37%
Max EPS beat(4)7.23%
EPS beat(8)4
Avg EPS beat(8)4.92%
EPS beat(12)8
Avg EPS beat(12)18.63%
EPS beat(16)12
Avg EPS beat(16)28.19%
Revenue beat(2)2
Avg Revenue beat(2)0.49%
Min Revenue beat(2)0.4%
Max Revenue beat(2)0.58%
Revenue beat(4)3
Avg Revenue beat(4)0.35%
Min Revenue beat(4)-0.07%
Max Revenue beat(4)0.58%
Revenue beat(8)4
Avg Revenue beat(8)-0.05%
Revenue beat(12)8
Avg Revenue beat(12)2.08%
Revenue beat(16)12
Avg Revenue beat(16)3.74%
PT rev (1m)1.75%
PT rev (3m)19.59%
EPS NQ rev (1m)4.8%
EPS NQ rev (3m)6.62%
EPS NY rev (1m)-0.58%
EPS NY rev (3m)2.63%
Revenue NQ rev (1m)1.81%
Revenue NQ rev (3m)2.72%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.95%
Valuation
Industry RankSector Rank
PE 57.76
Fwd PE 48.95
P/S 5.43
P/FCF 92.41
P/OCF 58.06
P/B 4.45
P/tB 6.27
EV/EBITDA 188.89
EPS(TTM)0.37
EY1.73%
EPS(NY)0.44
Fwd EY2.04%
FCF(TTM)0.23
FCFY1.08%
OCF(TTM)0.37
OCFY1.72%
SpS3.94
BVpS4.8
TBVpS3.41
PEG (NY)3.21
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.51%
ROE 0.6%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 0.74%
GM 35.96%
FCFM 5.87%
ROA(3y)-3.5%
ROA(5y)-3.9%
ROE(3y)-3.97%
ROE(5y)-17.24%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.1%
GM growth 5YN/A
F-Score5
Asset Turnover0.69
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF 0
Debt/EBITDA 0
Cap/Depr 93.15%
Cap/Sales 3.47%
Interest Coverage N/A
Cash Conversion 392.67%
Profit Quality 796.9%
Current Ratio 5.96
Quick Ratio 5.96
Altman-Z 14.59
F-Score5
WACC10.61%
ROIC/WACCN/A
Cap/Depr(3y)91.06%
Cap/Depr(5y)N/A
Cap/Sales(3y)2.23%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)15.62%
EPS 3Y0.92%
EPS 5YN/A
EPS Q2Q%71.43%
EPS Next Y17.99%
EPS Next 2Y22.29%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%28.45%
Revenue Next Year18.16%
Revenue Next 2Y17.54%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y56.26%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year44.25%
EBIT Next 3Y30.77%
EBIT Next 5YN/A
FCF growth 1Y14.27%
FCF growth 3Y108.22%
FCF growth 5YN/A
OCF growth 1Y33.7%
OCF growth 3Y90.65%
OCF growth 5YN/A