GRID DYNAMICS HOLDINGS, INC. (GDYN)

Services-Prepackaged Software

Latest Price

$8.13

TTM P/E

271.00

Normalized P/E

Div Yield

Book Value

6.23

P/B Ratio

1.31

Valuation metrics

EPS: $0.11

Book value / share: $6.39

Formula: √(22.5 × EPS × BVPS)

Graham Number

$3.98

51% downside

Base FCF: $25M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$26.19

+222% upside

EPS: $0.11

Target P/E: 15×

Formula: EPS × P/E

P/E Fair Value

$1.65

80% downside

72.9% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	6.68M	$37.0M	8.24%	-5.11M	2026-06-30
Alyeska Investment Group, L.P.	6.07M	$34.0M	7.48%	+811.4K	2026-06-30
T. Rowe Price Investment Management, Inc.	3.71M	$21.0M	4.58%	+1.15M	2026-06-30
BAMCO INC /NY/	3.00M	$17.0M	3.70%	-322	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	2.80M	$15.0M	3.46%	-18.9K	2026-06-30
MORGAN STANLEY	2.42M	$13.0M	2.99%	+552.0K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	2.15M	$12.0M	2.66%	-626.0K	2026-06-30
STATE STREET CORP	2.02M	$11.0M	2.49%	-897.4K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	1.76M	$9.0M	2.17%	+147.3K	2026-06-30
FEDERATED HERMES, INC.	1.75M	$9.0M	2.15%	+302.9K	2026-06-30