GRNDGrindr Inc.
Is the business good?
The checks split: earnings fully cash-backed (1.3×) and margins widening, but returns that lean on debt.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
Leverage-amplified, a high assets-to-equity ratio does much of the work. ROE 2645% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is GRND?
Grindr Inc. earns 33% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 24 points above what the capital costs: growth creates value
- Operating margin
- 30%
Operating margin · Software - Application median 6.4% · 12 months to Q2 2026
- Cash conversion
- 1.33×
Cash conversion · 1.54× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −10%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2021 | 16% |
| FY2022 | 6.7% |
| FY2023 | 21% |
| FY2024 | 27% |
| FY2025 | 29% |
Details›
- Gross margin12 months to Q2 2026
- 75%
- Operating margin12 months to Q2 2026
- 30%
- Net margin12 months to Q2 2026
- 19%
- Free cash flow margin
- 30%
- R&D as % of revenue
- 12%
- Revenue, trailing twelve months
- $510M
- Free cash flow, trailing twelve months
- $154M
- Net income, trailing twelve months
- $96M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 33%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Software, Application
Ranks #20 of 96 by RyuScore