Grandstand Limited (GRSD)

Nasdaq: GRSD · filing with the SEC since 2021

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Grade5.9

◀ Past 6.7● Present 5.2▶ Future 5.9

1 est.

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The grade of Grandstand Limited

Nine metrics read from its own filings, by tense

Headline grade

5.9/10

◀ Past6.730% of the headline

● Present5.240% of the headline

▶ Future5.930% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.7/1030% of the headline grade · 3 of 3 filed

Surviving crises

as filed

6.4/10

Has it survived what it has been through?

No warning events in its filings since 2021.

weight 33% of this tense · 64th percentile among 111 sector filers · read for itself

From the record

Grandstand Limited's filings since 2021 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

7.7/10

What has it actually done, year after year?

+43.1% a year over 7 filed years; profitable in 5 of 7.

weight 33% of this tense · 77th percentile among 9 sector filers · read for its customers

From the record

Grandstand Limited's 7 filed years say what it did: revenue went from $19 million in fiscal 2019 to $165 million in fiscal 2025, up 43.1% a year; it rose in 6 of 6 years; it never fell from a peak; net income was positive in 5 of 7 of those years (its annual reports).

What it rests on

revenue growth over the filed span43.1%top 6% of its family
the share of years revenue rosetop 22% of its family
the share of filed years with a profittop 44% of its family
the deepest fall from a revenue peak0.0%top 22% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

6.2/10

How has it treated the people who own it?

Share count shrank 2.4% a year. 47% of cash flow returned. Insiders: 0 sales, 4 purchases.

weight 33% of this tense · 62nd percentile among 46 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Grandstand Limited's diluted share count shrank about 2.4% a year, and dividends and buybacks returned about 47% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 4 purchases of their own stock on the open market in the year to 2026-10-19, buying about $31 thousand (their Form 4 filings).

What it rests on

the share count over the yearstop 7% of its family
cash returned against operating cash flowbottom 30% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

5.2/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

4.8/10

Is it financially healthy right now?

ROE -31%: lost 31¢ per shareholder dollar. Leverage 64%: owes 64¢ per asset dollar.

weight 33% of this tense · 48th percentile among 49 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Grandstand Limited lost about 31 cents for every dollar of shareholders' money, and gross profitability: its products earned about 50 cents per dollar of everything the company owns. Leverage: it owed about 64 cents per dollar of assets, and net share issuance: its share count shrank 2.4% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 17% of its family
return on equitybottom 5% of its family
gross profit against assetstop 25% of its family
the share count against the year beforetop 5% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

6.1/10

How strong is its position in its industry?

top 39% of 12 in its family; net margin -19.9%.

weight 33% of this tense · 61st percentile among 12 sector filers · read for its customers

From the record

Grandstand Limited's standing among 12 graded names in its industry family: revenue of $165 million in fiscal 2025 ranks in the top 29% by size; a net margin of -19.9% ranks in the bottom 32%; revenue growth of 29.3% a year over the last 3 filed years ranks in the top 21% (its annual reports).

What it rests on

revenue against the family$165Mtop 29% of its family
net margin-19.9%bottom 32% of its family
three-year revenue growth29.3%top 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

4.7/10

What are the people in charge doing?

SI estimate 4.7/10, confidence 20 of 100 (family median).

weight 33% of this tense · 50th percentile among 48 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 48 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 48 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Grandstand Limited's leadership is put at 4.7 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 48 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

5.9/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

7.5/10

How much room does it have to grow?

top 25% of 9 in its family for room to expand.

weight 33% of this tense · 75th percentile among 9 sector filers · read for itself

From the record

Grandstand Limited's room to grow, from the newest filed statements (fiscal 2025): cash of $16 million against debt of $119 million leaves -34.3% of its assets as net cash, top 40% of its family; cash from operations less capital spending is 11% of revenue (top 17%); a gross margin of 90.8% (top 17%) (its annual report).

What it rests on

cash less debt against assets-34.3%top 40% of its family
cash from operations less capital spending against revenue11.0%top 17% of its family
gross margin90.8%top 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

6.5/10

What could actually drive growth from here?

top 35% of 8 in its family for growth drivers.

weight 33% of this tense · 65th percentile among 8 sector filers · read for its customers

From the record

Grandstand Limited's growth drivers, from the filed years to fiscal 2025: revenue grew 29.3% a year over the last three filed years against 43.1% over all 7, slowing (bottom 17% of its family); the newest year grew 30.1% (top 6%); capital spending grew 37.8% a year (top 17%) (its annual reports). Grandstand Limited reported 2 product lines in fiscal 2025: Marketing at $124 million (75%), Data at $41 million (25%); 2 of 2 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span-13.8 points a yearbottom 17% of its family
the newest year's revenue growth30.1%top 6% of its family
three-year growth of capital spending37.8%top 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

3.6/10

Did its newest year beat what its own record pointed to?

bottom 36% of 7 in its family for expectations against reality.

weight 33% of this tense · 36th percentile among 7 sector filers · read for its shareholders

From the record

Grandstand Limited's newest year against its own record: revenue of $165 million in fiscal 2025 came in 0.9% above the $164 million its prior three years' pace pointed to (top 19% of its family); net income of $33 million against a prior three-year average of $17 million (bottom 6%); a net margin of -19.9% against 14.7% before (bottom 21%) (its annual reports).

What it rests on

revenue against the prior three years' pace0.9%top 19% of its family
net income against the prior three years' average-293%bottom 6% of its family
net margin against its prior average-34.6 pointsbottom 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton GRSD · research, not advice