What is Grid Dynamics Holdings, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Grid Dynamics Holdings, Inc.'s reported free cash flow gives $13.11 per share. The share price was $14.06 on November 10, 2026, 7% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $9.34 | -34% |
| Base | 15.0% | 9.0% | $13.11 | -7% |
| Bull | 20.0% | 8.0% | $20.13 | +43% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $15.96 | $16.85 | $17.94 | $19.30 | $21.05 |
| 8.0% | $13.82 | $14.40 | $15.08 | $15.90 | $16.90 |
| 9.0% | $12.26 | $12.65 | $13.11 | $13.64 | $14.27 |
| 10.0% | $11.08 | $11.36 | $11.67 | $12.04 | $12.46 |
| 11.0% | $10.15 | $10.36 | $10.59 | $10.84 | $11.14 |
Where the presets come from
Base: years 1 to 5 grow at Grid Dynamics Holdings, Inc.'s revenue growth rate over the last 5 fiscal years (29.9% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions