GRND
Grindr Inc.
Technology • CIK: 0001820144
Loading...
Market Cap
$2.82B
P/E (TTM)
-46.9x
Rev Growth (TTM)
+29.0%
Net Margin (TTM)
-12.0%
FCF Yield (TTM)
5.2%
FCF Margin (TTM)
35.4%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$146M
Q3 '25
$55M+48%
Q2 '25
$37M+58%
FCF Margin
TTM35.4%
Q3 '2547.7%+33%
Sector: 10.0%Top 10%
OCF Margin35.5%
OCF/NI-2.96x
CapEx Coverage190.0x
FCF Yield5.2%
FCF Growth (2Y)+43%
Cash Conversion Cycle
38 days
DSO: 47+DIO: 0−DPO: 9
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldTTM
TTM16.0%
Div Yield0.0%
+Buyback (TTM)16.0%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$145.5M
Stock Repurchases (TTM)$450.5M
Capital Return / FCF309.6%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
39.9%
Moderate
+0.0% YoY-13.0%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
43.8%
8Q: 24.6%
Asset Turnover
0.76x
8Q: 0.72x
Leverage (1+D/E)
–
Asset & CapEx Efficiency
Fixed Asset Turn
261.55x
8Q:234.13x
+3307.4%
Invested Cap Turn
0.91x
8Q:0.93x
-15.7%
CapEx Intensity
0.2%
8Q:0.2%
CapEx/Depreciation
0.06x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $411.5M | $115.8M↑11.1% | $104.2M↑10.9% | $93.9M↓3.8% | $97.6M↑9.3% | $89.3M↑8.5% | $82.3M↑9.3% | $75.3M↑4.5% | $72.1M |
Operating Income | $115.4M | $45.2M↑85.8% | $24.3M↓4.1% | $25.4M↑24.5% | $20.4M↓28.1% | $28.4M↑15.6% | $24.6M↑27.5% | $19.3M↑17.7% | $16.4M |
Net Income | $-49.4M | $30.8M↑85.3% | $16.6M↓38.4% | $27.0M↑121.8% | $-123.9M↓601.8% | $24.7M↑210.1% | $-22.4M↓138.4% | $-9.4M↑79.0% | $-44.8M |
Operating Cash Flow | $146.3M | $55.4M↑47.8% | $37.5M↑57.7% | $23.8M↓19.4% | $29.5M↑1.4% | $29.1M↑83.8% | $15.8M↓22.5% | $20.4M↑56.9% | $13.0M |
Free Cash Flow | $145.5M | $55.2M↑48.0% | $37.3M↑57.7% | $23.7M↓19.2% | $29.3M↑1.7% | $28.8M↑83.8% | $15.7M↓22.6% | $20.3M↑58.7% | $12.8M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
-46.9x
Volatile
8Q: 29.9x+32338%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
-46.9x
vs – sector
Cash Flow
20.6x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: 39.9%
Shareholder Returns
Dividend
–
Buyback
16.0%
Total Yield
16.0%
Market Cap$2.82B
EV$3.00B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
48/100
Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)
–
8Q:–
Return on Invested Capital (ROIC)Top 25%
39.9%
8Q:–
-13.0%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 43.8%
Asset Turnover: 0.76x
Earnings Quality
Cash Conversion
-2.96x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin74.5%
Capital Efficiency
Invested Capital Turnover0.91x
Working Capital
Cash Conversion Cycle38 days
Growth Quality & Momentum
Quality Growth
Growth Quality Score
80/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
29.0%
OpInc Growth YoY
59.4%
EPS Growth YoY
-5.7%
FCF 3Y CAGR
42.6%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
✓Sustainability Index: 8.5/10 - Highly sustainable growth
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
74.5%
Operating
28.0%
Top 25% in sector
Net
-12.0%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+47.4 pts
FCF: 35.4% | Net: -12.0%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Net Debt / EBITDA
–Net Debt: $272.98M
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
–x
Balance sheet risk & solvency analysis