Grid Dynamics Holdings (GDYN) Operating Margin (2019 - 2026)
Grid Dynamics Holdings' Operating Margin was 1.18% in Q2 2026, up 1.30 percentage points from -0.12% a year earlier and up 4.72 percentage points from the prior quarter.
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Analysis
Grid Dynamics Holdings (GDYN) Operating Margin (2019 - 2026) Analysis & Trends
On a trailing twelve-month basis, Grid Dynamics Holdings' Operating Margin was -0.51% through Jun 30, 2026, down 0.82 percentage points year-over-year; for FY2025, it was -0.46%, up 0.14 percentage points from FY2024.
- Operating Margin has now increased for three consecutive years, with a five-year change of +13.42 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was -0.60% in FY2024 (+1.18 pp), -1.78% in FY2023 (+4.98 pp), -6.77% in FY2022 (-6.79 pp) and 0.02% in FY2021 (+13.91 pp).
- The Q2 2026 figure marks the highest quarterly Operating Margin since Q4 2024.
- Compared with a year earlier, Operating Margin was higher in four of the last eight quarters, with an average year-over-year change of +0.75 percentage points.
- The best year-over-year quarter for Operating Margin over five years was Q2 2023 (a gain of 15.75 percentage points); the worst was Q2 2022 (a drop of 16.93 percentage points).
- Per Business Quant data, GDYN's Operating Margin in the three quarters before Q2 2026 was -3.54% (Q1 2026), 0.48% (Q4 2025) and -0.23% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 42.66 Bn | 42.72 Bn | 1.60 Bn | 21.09% |
| 2 | Cognizant Technology Solutions | 25.65 Bn | 18.82 Bn | 1.83 Bn | 15.95% |
| 3 | Td Synnex | 20.51 Bn | 14.54 Bn | 1.34 Bn | 2.65% |
| 4 | Cdw | 16.33 Bn | 14.32 Bn | 1.32 Bn | 6.52% |
| 5 | Cgi | 15.07 Bn | 12.85 Bn | - | - |
| 6 | Arrow Electronics | 11.72 Bn | 10.75 Bn | 1.13 Bn | 3.78% |
| 7 | Avnet | 8.33 Bn | 7.51 Bn | 865.03 Mn | 2.79% |
| 8 | Ingram Micro Holding | 6.23 Bn | 1.84 Bn | 958.68 Mn | 1.62% |
| 9 | EPAM Systems | 5.55 Bn | 1.19 Bn | 429.57 Mn | 10.76% |
| 10 | Grid Dynamics Holdings | 615.35 Mn | -691.16 Mn | 39.62 Mn | 1.18% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.18% |
| Mar 31, 2026 | -3.54% |
| Dec 31, 2025 | 0.48% |
| Sep 30, 2025 | -0.23% |
| Jun 30, 2025 | -0.12% |
| Mar 31, 2025 | -2.03% |
| Dec 31, 2024 | 1.26% |
| Sep 30, 2024 | 2.44% |
| Jun 30, 2024 | 0.05% |
| Mar 31, 2024 | -6.94% |
| Dec 31, 2023 | -1.36% |
| Sep 30, 2023 | 0.18% |
| Jun 30, 2023 | 1.72% |
| Mar 31, 2023 | -7.48% |
| Dec 31, 2022 | -6.96% |
| Sep 30, 2022 | -5.85% |
| Jun 30, 2022 | -14.03% |
| Mar 31, 2022 | 0.28% |
| Dec 31, 2021 | -2.29% |
| Sep 30, 2021 | 3.40% |
API Access
Grid Dynamics Holdings Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=GDYN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "GDYN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=GDYN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();