Grindr vs Yelp
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KIRA’s take AI analyst
I put Grindr and Yelp side by side, using each one’s latest annual report. Here is what stands out:
- Yelp is the larger business, with $1.5B of revenue in fiscal 2025 against $440M for Grindr, about 3.3 times as much.
- Grindr grew revenue faster (27.6%, against 3.8%).
- Grindr kept more of each dollar of sales as operating profit (28.7% operating margin, against 12.6%).
- Grindr turned more of its sales into free cash flow (32.0% FCF margin, against 22.1%).
- Investors pay more for each dollar of Grindr’s earnings: a P/E of 26.2x against 9.3x for Yelp.
Who comes out ahead
Of the 5 measures where higher (or lower) is clearly better, how many each company leads.
Grindr
GRND
4/5
Revenue growthOperating marginNet marginFCF margin
Yelp
YELP
1/5
Share count change
Side by side
Best in the row
| Latest fiscal year | GRND FY25 | YELP FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.3B | $1.1B |
| Revenue | $440M | $1.5B |
| Free cash flow | $141M | $324M |
| Net income | $94.8M | $146M |
| Growth | ||
| Revenue growth | 27.6% | 3.8% |
| 5-year growth | — | 10.9% |
| Share count change | 11.0% | −7.8% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 28.7% | 12.6% |
| Net margin | 21.5% | 9.9% |
| FCF margin | 32.0% | 22.1% |
| Return on capital | 44.3% | — |
| Return on equity | — | 20.0% |
| Balance sheet | ||
| Net debt | $309M | — |
| Net debt / EBITDA | 2.3x | — |
| Dividends and buybacks | $451M | $291M |
| Valuation & quality | ||
| P/E | 26.2x | 9.3x |
| Piotroski F-score | 6 | — |
Ten years
Revenue
FY16
GRND —
YELP $716M
FY17
GRND —
YELP $851M
FY18
GRND —
YELP $943M
FY19
GRND —
YELP $1.0B
FY20
GRND —
YELP $873M
FY21
GRND $146M
YELP $1.0B
FY22
GRND $195M
YELP $1.2B
FY23
GRND $260M
YELP $1.3B
FY24
GRND $345M
YELP $1.4B
FY25
GRND $440M
YELP $1.5B
GRND
YELP
Operating margin
FY16
GRND —
YELP −0.3%
FY17
GRND —
YELP 21.1%
FY18
GRND —
YELP 2.8%
FY19
GRND —
YELP 3.5%
FY20
GRND —
YELP −4.4%
FY21
GRND 16.3%
YELP 3.1%
FY22
GRND 6.7%
YELP 4.9%
FY23
GRND 21.4%
YELP 5.9%
FY24
GRND 26.9%
YELP 10.7%
FY25
GRND 28.7%
YELP 12.6%
GRND
YELP
Free cash flow
FY16
GRND —
YELP $104M
FY17
GRND —
YELP $137M
FY18
GRND —
YELP $115M
FY19
GRND —
YELP $167M
FY20
GRND —
YELP $145M
FY21
GRND $34.2M
YELP $184M
FY22
GRND $50.2M
YELP $160M
FY23
GRND $35.6M
YELP $279M
FY24
GRND $94.0M
YELP $248M
FY25
GRND $141M
YELP $324M
GRND
YELP
Return on capital
FY16
GRND —
YELP —
FY17
GRND —
YELP —
FY18
GRND —
YELP —
FY19
GRND —
YELP —
FY20
GRND —
YELP —
FY21
GRND —
YELP —
FY22
GRND 2.8%
YELP —
FY23
GRND 13.5%
YELP —
FY24
GRND 37.1%
YELP —
FY25
GRND 44.3%
YELP —
GRND
YELP
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.