GRANDSTAND LTD Financials

GRSD

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows GRANDSTAND LTD (GRSD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Health Score 47/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of GRANDSTAND LTD's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

GRANDSTAND LTD's revenue surged 30.1% year-over-year to $165.4M, reflecting rapid business expansion. This strong growth earns a score of 85/100.

Leverage

GRANDSTAND LTD carries a low D/E ratio of 0.03, meaning only $0.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

GRANDSTAND LTD's current ratio of 1.21 is below the typical benchmark, resulting in a score of 29/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

GRANDSTAND LTD converts 11.0% of revenue into free cash flow ($18.2M). This strong cash generation earns a score of 84/100.

Piotroski F-Score Partial

4/8

GRANDSTAND LTD passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

-0.58x

For every $1 of reported earnings, GRANDSTAND LTD generates $-0.58 in operating cash flow ($19.1M OCF vs -$32.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$165.4M

YoY+30.1%

5Y CAGR+42.7%

GRANDSTAND LTD generated $165.4M in revenue in fiscal year 2025. This represents an increase of 30.1% from the prior year.

EBITDA

N/A

Net Income

-$32.9M

YoY-207.3%

GRANDSTAND LTD reported -$32.9M in net income in fiscal year 2025. This represents a decrease of 207.3% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$18.2M

YoY-49.8%

5Y CAGR+11.0%

GRANDSTAND LTD generated $18.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 49.8% from the prior year.

Cash & Debt

$15.8M

YoY+15.2%

GRANDSTAND LTD held $15.8M in cash against $3.6M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

35M

YoY+1.0%

GRANDSTAND LTD had 35M shares outstanding in fiscal year 2025. This represents an increase of 1.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-19.9%

YoY-44.0pp

5Y CAGR-74.0pp

GRANDSTAND LTD's net profit margin was -19.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 44.0 percentage points from the prior year.

Return on Equity

-30.5%

YoY-55.4pp

5Y CAGR-74.8pp

GRANDSTAND LTD's ROE was -30.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 55.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$5.6M

YoY-79.3%

GRANDSTAND LTD spent $5.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 79.3% from the prior year.

Capital Expenditures

$863K

YoY-34.9%

5Y CAGR+79.7%

GRANDSTAND LTD invested $863K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 34.9% from the prior year.

GRSD Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$165.4M+30.1%	$127.2M+17.1%	$108.7M+42.0%	$76.5M+80.8%	$42.3M+51.3%	$28.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$324K+30.1%	$249K+50.9%	$165K-9.3%	$182K	N/A	$204K
Income Tax	$522K-85.0%	$3.5M+84.5%	$1.9M+268.8%	$510K	N/A	-$4.4M
Net Income	-$32.9M-207.3%	$30.7M+68.0%	$18.3M+664.0%	$2.4M	N/A	$15.2M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q2'22	Q1'22
Revenue	N/A	$39.6M	N/A	$30.5M	N/A	$26.0M+63.1%	$15.9M-18.7%	$19.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	$78K	N/A	$55K	N/A	$44K-2.2%	$45K-10.0%	$50K
Income Tax	N/A	$1.2M	N/A	$723K	N/A	$643K+394.6%	$130K-64.8%	$369K
Net Income	N/A	-$13.4M	N/A	$6.9M	N/A	$278K+396.4%	$56K-98.8%	$4.5M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

GRSD Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$299.7M+67.8%	$178.6M+15.3%	$154.9M+17.5%	$131.8M+44.8%	$91.0M+100.6%	$45.4M
Current Assets	$42.3M+21.2%	$34.9M-26.3%	$47.4M+18.2%	$40.1M-29.2%	$56.5M+311.8%	$13.7M
Cash & Equivalents	$15.8M+15.2%	$13.7M-46.0%	$25.4M-14.3%	$29.7M-41.9%	$51.0M	N/A
Inventory	N/A	N/A	N/A	N/A	$0	N/A
Accounts Receivable	$26.5M+25.2%	$21.2M-3.5%	$21.9M+145.0%	$9.0M+62.9%	$5.5M-0.2%	$5.5M
Goodwill	$245.7M+87.8%	$130.8M+1111.2%	$10.8M-87.8%	$88.5M	N/A	$23.6M
Total Liabilities	$191.7M+246.1%	$55.4M+54.1%	$35.9M-23.3%	$46.9M+321.6%	$11.1M-0.5%	$11.2M
Current Liabilities	$35.0M+17.8%	$29.7M-9.2%	$32.7M+19.6%	$27.4M+178.5%	$9.8M+167.7%	$3.7M
Long-Term Debt	$3.6M-6.2%	$3.8M+220.9%	$1.2M-30.1%	$1.7M+32.3%	$1.3M-17.7%	$1.6M
Total Equity	$108.0M-12.4%	$123.2M+3.6%	$118.9M+36.5%	$87.1M+9.0%	$79.9M+133.6%	$34.2M
Retained Earnings	$42.4M-43.7%	$75.3M+68.7%	$44.7M+56.4%	$28.6M+20.0%	$23.8M+109.8%	$11.3M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q2'22	Q1'22
Total Assets	$299.7M-3.0%	$309.0M+73.0%	$178.6M+2.0%	$175.1M+13.1%	$154.9M+8.2%	$143.1M+8.6%	$131.8M-5.6%	$139.6M
Current Assets	$42.3M+2.8%	$41.2M+18.0%	$34.9M+23.2%	$28.3M-40.2%	$47.4M+6.3%	$44.6M+11.3%	$40.1M-11.1%	$45.1M
Cash & Equivalents	$15.8M-15.3%	$18.7M+36.0%	$13.7M+82.5%	$7.5M-70.4%	$25.4M-18.8%	$31.3M+0.7%	$31.1M-5.9%	$33.1M
Inventory	N/A	N/A	N/A	N/A	N/A	$13K	N/A	N/A
Accounts Receivable	$26.5M+17.7%	$22.5M+6.3%	$21.2M+1.7%	$20.8M-5.2%	$21.9M+65.6%	$13.2M+47.9%	$9.0M-25.3%	$12.0M
Goodwill	$245.7M-3.7%	$255.1M+95.0%	$130.8M+1111.2%	$10.8M0.0%	$10.8M-88.0%	$89.9M+8.2%	$83.1M-6.5%	$88.8M
Total Liabilities	$191.7M+13.3%	$169.3M+205.6%	$55.4M+6.1%	$52.2M+45.3%	$35.9M-3.9%	$37.4M-20.2%	$46.9M-2.5%	$48.0M
Current Liabilities	$35.0M-50.0%	$70.1M+135.6%	$29.7M+3.8%	$28.6M-12.6%	$32.7M-3.2%	$33.8M+23.6%	$27.4M+28.6%	$21.3M
Long-Term Debt	$3.6M-11.4%	$4.0M+5.9%	$3.8M-12.1%	$4.3M+265.0%	$1.2M-11.7%	$1.3M-20.9%	$1.7M-3.8%	$1.8M
Total Equity	$108.0M-22.7%	$139.7M+13.4%	$123.2M+0.2%	$122.9M+3.4%	$118.9M+12.5%	$105.7M+24.5%	$85.0M-7.2%	$91.6M
Retained Earnings	$42.4M-42.0%	$73.2M-2.9%	$75.3M+27.9%	$58.9M+31.9%	$44.7M+34.2%	$33.3M+16.5%	$28.6M+0.9%	$28.3M

GRSD Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$19.1M-49.2%	$37.6M+110.2%	$17.9M-4.5%	$18.8M	N/A	$10.9M
Capital Expenditures	$863K-34.9%	$1.3M+194.0%	$451K+36.7%	$330K	N/A	$46K
Free Cash Flow	$18.2M-49.8%	$36.3M+108.0%	$17.5M-5.2%	$18.4M	N/A	$10.8M
Investing Cash Flow	-$98.9M-125.7%	-$43.8M-125.1%	-$19.5M+40.4%	-$32.7M	N/A	-$90K
Financing Cash Flow	$81.5M+1653.5%	-$5.2M-66.8%	-$3.1M+57.0%	-$7.3M	N/A	-$10.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$5.6M-79.3%	$26.9M+874.7%	$2.8M+692.8%	$348K	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q2'22	Q1'22
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	$3.4M-6.4%	$3.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	$99K-30.8%	$143K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	$3.3M-5.3%	$3.4M
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$4.7M+78.3%	-$21.5M
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$124K+51.6%	-$256K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

GRSD Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-19.9%-44.0pp	24.1%+7.3pp	16.8%+13.7pp	3.1%	N/A	54.1%
Return on Equity	-30.5%-55.4pp	24.9%+9.6pp	15.3%+12.6pp	2.7%	N/A	44.3%
Return on Assets	-11.0%-28.2pp	17.2%+5.4pp	11.8%+10.0pp	1.8%	N/A	33.4%
Current Ratio	1.21+0.0	1.17-0.3	1.45-0.0	1.46-4.3	5.75+2.0	3.74
Debt-to-Equity	0.030.0	0.03+0.0	0.010.0	0.020.0	0.02-0.0	0.05
FCF Margin	11.0%-17.5pp	28.5%+12.5pp	16.1%-8.0pp	24.1%	N/A	38.8%

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q2'22	Q1'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	-33.9%	N/A	22.7%	N/A	1.1%+0.7pp	0.4%-22.6pp	22.9%
Return on Equity	N/A	-9.6%	N/A	5.6%	N/A	0.3%+0.2pp	0.1%-4.8pp	4.9%
Return on Assets	N/A	-4.3%	N/A	4.0%	N/A	0.2%+0.1pp	0.0%-3.2pp	3.2%
Current Ratio	1.21+0.6	0.59-0.6	1.17+0.2	0.99-0.5	1.45+0.1	1.32-0.1	1.46-0.7	2.12
Debt-to-Equity	0.030.0	0.030.0	0.030.0	0.04+0.0	0.010.0	0.010.0	0.020.0	0.02
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	20.5%+2.9pp	17.6%

Frequently Asked Questions

What is GRANDSTAND LTD's annual revenue?

GRANDSTAND LTD (GRSD) reported $165.4M in total revenue for fiscal year 2025. This represents a 30.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is GRANDSTAND LTD's revenue growing?

GRANDSTAND LTD (GRSD) revenue grew by 30.1% year-over-year, from $127.2M to $165.4M in fiscal year 2025.

Is GRANDSTAND LTD profitable?

No, GRANDSTAND LTD (GRSD) reported a net income of -$32.9M in fiscal year 2025, with a net profit margin of -19.9%.

How much debt does GRANDSTAND LTD have?

As of fiscal year 2025, GRANDSTAND LTD (GRSD) had $15.8M in cash and equivalents against $3.6M in long-term debt.

What is GRANDSTAND LTD's net profit margin?

GRANDSTAND LTD (GRSD) had a net profit margin of -19.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is GRANDSTAND LTD's return on equity (ROE)?

GRANDSTAND LTD (GRSD) has a return on equity of -30.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is GRANDSTAND LTD's free cash flow?

GRANDSTAND LTD (GRSD) generated $18.2M in free cash flow during fiscal year 2025. This represents a -49.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is GRANDSTAND LTD's operating cash flow?

GRANDSTAND LTD (GRSD) generated $19.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are GRANDSTAND LTD's total assets?

GRANDSTAND LTD (GRSD) had $299.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are GRANDSTAND LTD's capital expenditures?

GRANDSTAND LTD (GRSD) invested $863K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does GRANDSTAND LTD buy back shares?

Yes, GRANDSTAND LTD (GRSD) spent $5.6M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does GRANDSTAND LTD have outstanding?

GRANDSTAND LTD (GRSD) had 35M shares outstanding as of fiscal year 2025.

What is GRANDSTAND LTD's current ratio?

GRANDSTAND LTD (GRSD) had a current ratio of 1.21 as of fiscal year 2025, which is considered adequate.

What is GRANDSTAND LTD's debt-to-equity ratio?

GRANDSTAND LTD (GRSD) had a debt-to-equity ratio of 0.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is GRANDSTAND LTD's return on assets (ROA)?

GRANDSTAND LTD (GRSD) had a return on assets of -11.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is GRANDSTAND LTD's Piotroski F-Score?

GRANDSTAND LTD (GRSD) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are GRANDSTAND LTD's earnings high quality?

GRANDSTAND LTD (GRSD) has an earnings quality ratio of -0.58x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is GRANDSTAND LTD?

GRANDSTAND LTD (GRSD) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.