GRID DYNAMICS HOLDINGS, INC. (GDYN)

Services-Prepackaged Software

Latest Price

$6.89

TTM P/E

114.83

Normalized P/E

Div Yield

Book Value

6.26

P/B Ratio

1.10

Valuation metrics

EPS: $0.11

Book value / share: $6.39

Formula: √(22.5 × EPS × BVPS)

Graham Number

$3.98

42% 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

+280% upside

EPS: $0.11

Target P/E: 15×

Formula: EPS × P/E

P/E Fair Value

$1.65

76% downside

75.6% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	11.78M	$67.0M	14.10%	-42.0K	2026-03-31
Alyeska Investment Group, L.P.	5.25M	$29.0M	6.29%	+1.47M	2026-03-31
BAMCO INC /NY/	3.00M	$17.0M	3.59%	--	2026-03-31
STATE STREET CORP	2.92M	$16.0M	3.49%	+154.9K	2026-03-31
VANGUARD CAPITAL MANAGEMENT LLC	2.82M	$16.0M	3.38%	--	2026-03-31
VANGUARD PORTFOLIO MANAGEMENT LLC	2.78M	$15.0M	3.33%	--	2026-03-31
T. Rowe Price Investment Management, Inc.	2.57M	$14.0M	3.07%	+2.17M	2026-03-31
ALLIANCEBERNSTEIN L.P.	2.27M	$20.0M	2.72%	-103.1K	2026-03-31
MORGAN STANLEY	1.87M	$10.0M	2.24%	+152.8K	2026-03-31
GEODE CAPITAL MANAGEMENT, LLC	1.61M	$9.0M	1.93%	-14.8K	2026-03-31