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ValueScreener company report

Grindr Inc. (GRND)

NYSE / Technology / Software - Application

Share price

15.10 USD Market dataClose of Oct 15, 2026

Market capitalisation

2.63B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Mar 2, 2026
Ratios computed
Oct 15, 2026
Filed years
5, FY2021 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

28.0% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

33.56x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

4.8% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, by fiscal year

FY2019 Revenue: 108.7M USDFY2019 Net income: 7.7M USDFY2020 Revenue: 104.5M USDFY2020 Net income: -13.1M USDFY2021 Revenue: 145.8M USDFY2021 Net income: 5.1M USDFY2022 Revenue: 195.0M USDFY2022 Net income: 852.0K USDFY2023 Revenue: 259.7M USDFY2023 Net income: -55.8M USDFY2024 Revenue: 344.6M USDFY2024 Net income: -131.0M USDFY2025 Revenue: 439.9M USDFY2025 Net income: 94.8M USD
Revenue Net income7 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.
Named tests met
2 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 33.56x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 25.00x and 40.00x.

Today, against the Software - Application industry (100 companies), 33.56x sits at the 60th percentile; the middle half of that group runs from 15.62x to 50.75x.

Is it good

Return on invested capital was 28.0% in FY2025, in the band labelled "Exceptional" (20.0% and above), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on the capital in the business well above the usual cost of that capital.

Today, against the Software - Application industry (47 companies), 28.0% sits at the 83rd percentile; the middle half of that group runs from 1.3% to 18.7%.

Is it safe

Net debt to EBITDA was 2.32x in FY2025, in the band labelled "Moderate" (1.00x to 2.50x), on lines set by credit-analyst convention.

No peer distribution is published for net debt to EBITDA today; the year-by-year comparison uses the filed annual figures.

Year by year against peers
Whether Grindr Inc.'s operating margin stayed above the median of the Software - Application industry, year by year. (FY2019 to FY2025, 7 fiscal years of Grindr Inc. with a comparable figure)
The direction
Which way Grindr Inc.'s operating margin has moved, and how steadily. (FY2019 to FY2025, 7 filed years of Grindr Inc.)
What could explain it
What in Grindr Inc.'s filed statements could explain the movements. (12 readings drawn from the statement lines Grindr Inc. filed)
What to check next
What to check next on Grindr Inc., and where in its filings. (6 questions for Grindr Inc.)
In one paragraph
One paragraph on Grindr Inc.'s returns, cash, balance sheet and price. (13 of sixteen figures read for Grindr Inc.)

These are GRND’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research GRNDPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Mar 2, 2026, accession 0001820144-26-000007.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Grindr Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax28.0% ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Return on equity201.6% ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Return on capital employed, pre-tax28.3% ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Return on assets17.8% ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Gross margin
Why n/a

Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.

n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Operating margin28.7% ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Net margin21.5% ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
GRND 21.5%
ALRM 13.0%ADEA 25.1%FRSH 21.9%AGYS 12.2%PLUS 5.4%
5.4%25.1%
Net margin: GRND against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Grindr Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity8.52 ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Current ratio1.96 ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Quick ratio1.96 ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Interest coverage
Why n/a

No interest expense is filed for this year, so coverage is not computed.

n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Altman Z-score5.19 ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Net debt313.5M ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Total assets 531.0MTotal liabilities 484.0MShareholders' equity 47.0MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Grindr Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Mar 2, 2026, 0001820144-26-000007).

Grindr Inc: balance sheet position
Total assets531.0M FiledFY2025 10-K, filed Mar 2, 2026
Total liabilities484.0M FiledFY2025 10-K, filed Mar 2, 2026
Shareholders' equity47.0M FiledFY2025 10-K, filed Mar 2, 2026
Cash87.0M FiledFY2025 10-K, filed Mar 2, 2026
Total debt400.6M FiledFY2025 10-K, filed Mar 2, 2026
Net debt313.5M
Current ratio1.96
Debt to equity8.52
  • Interest cover: FY2025: No interest expense is filed for this year, so coverage is not computed.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Grindr Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings33.56x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
P/E on trailing twelve months30.12x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book62.70x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Price to sales6.70x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Enterprise value to EBIT25.82x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Enterprise value to EBITDA24.13x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Diluted earnings per share0.43 USD FiledFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Graham number1.56 USD ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007

We publish no fair value or price target of our own. Value GRND on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Grindr Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Grindr Inc: valuation
Share price15.10 USD
Market capitalisation2.63B USD
Enterprise value to EBITDA24.13x
Graham number1.56 USD
Diluted earnings per share, FY20250.43 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Mar 17, 2023: low 22.29x, median 31.06x, high 648.00x, latest 30.12x. 198 trading days with a meaningful ratio, 700 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Grindr Inc

  1. Alarm.com Holdings, Inc. (ALRM)Market cap 2.83B USD
  2. Adeia Inc. (ADEA)Market cap 2.40B USD
  3. Freshworks Inc. (FRSH)Market cap 3.72B USD
  4. Agilysys, Inc. (AGYS)Market cap 3.20B USD
  5. ePlus inc. (PLUS)Market cap 2.48B USD

Same industry (Software - Application) and size band (Mid, 2B to 10B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Grindr Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield4.8% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Free cash flow140.8M USD ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Free cash flow margin32.0% ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
FY2019 Free cash flow: 35.5M USDFY2019 Net income: 7.7M USDFY2020 Free cash flow: 25.6M USDFY2020 Net income: -13.1M USDFY2021 Free cash flow: 34.2M USDFY2021 Net income: 5.1M USDFY2022 Free cash flow: 50.2M USDFY2022 Net income: 852.0K USDFY2023 Free cash flow: 35.6M USDFY2023 Net income: -55.8M USDFY2024 Free cash flow: 94.0M USDFY2024 Net income: -131.0M USDFY2025 Free cash flow: 140.8M USDFY2025 Net income: 94.8M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Grindr Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
33.56xFY2025Oct 15, 2026
62.70xFY2025Oct 15, 2026
25.82xFY2025Oct 15, 2026
4.8%FY2025Oct 15, 2026
28.0%FY2025Mar 2, 2026
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
8.52FY2025Mar 2, 2026
1.96FY2025Mar 2, 2026
6.70xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
5.19FY2025Oct 15, 2026
-2.31FY2025Mar 2, 2026
6/9FY2025Mar 2, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 5 filed fiscal years on record, FY2021 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

7 fiscal years, FY2019 to FY2025. 5 read from the annual reports Grindr Inc filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in USD, as reported.

Grindr Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY2025439.9M126.3M94.8M0.43140.8M28.7%201.6%10-K, Mar 2, 20260001820144-26-000007
FY2024344.6M92.6M-131.0M-0.7494.0M26.9%n/m10-K, Mar 7, 20250001820144-25-000013
FY2023259.7M55.4M-55.8M-0.3235.6M21.4%n/m10-K, Mar 11, 20240001820144-24-000011
FY2022195.0M13.0M852.0K0.0150.2M6.7%21.0%10-K, Mar 17, 20230001820144-23-000005
FY2021145.8M23.7M5.1M0.0334.2M16.3%n/m10-K, Mar 22, 20220001140361-22-010575
FY2020104.5M-907.0K-13.1M-0.6025.6M-0.9%-5.1%Market data, supplied Oct 15, 2026accession n/a
FY2019108.7M10.1M7.7M0.0535.5M9.3%n/aMarket data, supplied Oct 15, 2026accession n/a
  • Revenue, compound annual growth FY2019 to FY2025: 26.2%
  • Earnings, compound annual growth FY2019 to FY2025: 51.9%
  • Earnings per share, compound annual growth FY2019 to FY2025: 42.9%
  • Free cash flow, compound annual growth FY2019 to FY2025: 25.8%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Grindr Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.31 ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Piotroski F-score6/9 ComputedFY2025 10-K, filed Mar 2, 2026, 0001820144-26-000007
Named tests met2 of 30 Computed
Beta0.73 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 2 met, 26 not met, 2 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
ROIC at or above WACC; High return on tangibles
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Owner earnings yield; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Gross margin, turnover (Robert Novy-Marx); Cash-covered dividend. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(9)
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Gross Margin: Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.
  • Interest Coverage: No interest expense is filed for this year, so coverage is not computed.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.
  • Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 9 figures could not be read on this company, among them PEG Ratio, Eps Growth 5Y, Gross Margin. Each blank in the table above names the rest, with its reason. 2 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 5 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.