Logo

GCMG

GCM Grosvenor Inc.

GCMG

GCM Grosvenor Inc. • NASDAQ
$10.98 ▲ 0.73% (+0.08)
Market Cap $2.05 B
52w High $14.48
52w Low $10.23
Dividend Yield 0.44%
P/E 34.31
Volume 247.06K
Outstanding Shares 186.88M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $138.677M ▲ $94.503M ▼ $10.495M ▼ 7.568% ▼ $0.2 ▼ $55.433M ▲
Q2-2025 $123.964M ▼ $104.719M ▼ $15.437M ▲ 12.453% ▲ $0.3 ▲ $46.748M ▲
Q1-2025 $125.147M ▼ $109.817M ▲ $463K ▼ 0.37% ▼ $0.01 ▼ $9.174M ▼
Q4-2024 $170.106M ▲ $44.626M ▲ $7.615M ▲ 4.477% ▲ $0.17 ▼ $43.618M ▲
Q3-2024 $122.931M $24.617M $4.156M 3.381% $0.27 $22.284M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $182.749M ▲ $685.933M ▲ $682.11M ▲ $-7.39M ▲
Q2-2025 $136.334M ▲ $636.859M ▲ $657.498M ▼ $-12.289M ▲
Q1-2025 $94.499M ▲ $579.818M ▼ $669.492M ▼ $-28.325M ▼
Q4-2024 $89.454M ▼ $612.731M ▲ $703.07M ▲ $-27.62M ▲
Q3-2024 $98.447M $575.042M $688.087M $-31.879M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $45.082M ▲ $79.817M ▲ $-6.84M ▼ $-26.228M ▼ $46.415M ▲ $78.269M ▲
Q2-2025 $39.891M ▲ $41.977M ▲ $-6.491M ▼ $5.651M ▲ $41.835M ▲ $40.755M ▲
Q1-2025 $-1.09M ▼ $33.264M ▼ $-1.14M ▲ $-27.703M ▲ $5.045M ▲ $32.094M ▼
Q4-2024 $30.419M ▲ $38.1M ▼ $-6.726M ▲ $-38.85M ▼ $-8.993M ▼ $36.984M ▼
Q3-2024 $12.131M $68.992M $-8.611M $-37.192M $24.526M $62.246M

Revenue by Products

Product Q3-2024Q4-2024Q2-2025Q3-2025
Asset Management
Asset Management
 $100.00M ▲$210.00M ▲$100.00M ▼$110.00M ▲
Expense Reimbursement
Expense Reimbursement
 $0 ▲$10.00M ▲$0 ▼$0 ▲
Management Fees Before Reimbursement Revenue
Management Fees Before Reimbursement Revenue
 $100.00M ▲$200.00M ▲$100.00M ▼$100.00M ▲
Management Service Incentive
Management Service Incentive
 $20.00M ▲$70.00M ▲$20.00M ▼$30.00M ▲
Management Service Incentive Carried Interest
Management Service Incentive Carried Interest
 $20.00M ▲$30.00M ▲$10.00M ▼$20.00M ▲
Management Service Incentive Performance Fees
Management Service Incentive Performance Fees
 $0 ▲$50.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown modestly over the past few years, with a small step-up in the most recent period after a softer patch. Profitability has been positive but thin, and earnings have swung around from year to year, reflecting the cyclical nature of performance fees and incentive income in alternatives. After margin pressure and a slightly loss-making year at the operating level not long ago, the latest year shows a healthier spread between revenue and costs and a return to solid operating and EBITDA profitability. Overall, the business looks capable of generating profit, but with earnings that can be uneven and sensitive to markets and fundraising conditions.

Balance Sheet

Balance Sheet The balance sheet is stable in size but clearly geared. Total assets have held in a fairly narrow range, yet debt has crept up over time and now represents a large share of the capital structure. Shareholders’ equity has been consistently negative, which signals a leveraged, financial-engineering–heavy structure rather than a traditional net-asset base. Cash on hand is modest relative to debt, though it did improve in the latest year versus the prior one. In simple terms, the company runs with high leverage and limited tangible cushion, which can work in normal times but leaves less room for adverse shocks or prolonged downturns.

Cash Flow

Cash Flow Cash generation is a relative bright spot. The firm has produced positive operating cash flow every year shown, with particularly strong conversion in its better years. Because the business is asset-light and capital spending is very low, free cash flow tracks operating cash flow closely. This means that most cash generated is available for debt service, incentives, and capital returns rather than heavy reinvestment needs. The flip side is that if performance or fundraising slow, cash flow could drop quickly, given the high fixed obligations tied to debt and compensation.

Competitive Edge

Competitive Edge GCM Grosvenor operates in a crowded, sophisticated part of asset management but has carved out a defensible niche. Its strengths include long-standing relationships with institutional clients, a reputation built over decades, and a highly customized, solutions-oriented approach rather than standard pooled products. The firm offers a broad platform across private equity, infrastructure, credit, real estate, and hedge fund–like strategies, with particular depth in backing smaller, emerging, and diverse managers. This specialization in less efficient corners of the market, along with an open-architecture manager selection model, provides differentiation. The main competitive challenges are intense fee and performance pressure across alternatives, the scale and branding power of mega-managers, and the need to continually prove value in an environment where clients have many options.

Innovation and R&D

Innovation and R&D While it does not do traditional R&D, the firm has invested meaningfully in data, technology, and process innovation. Its proprietary data environment and advanced analytics aim to give investment teams and clients better insight and transparency. Partnerships with specialized fintech providers for portfolio monitoring, deal management, and automated reporting help the firm stay modern without building everything internally. Internally, programs that encourage staff-driven innovation signal a culture open to process improvement and technology adoption. Strategically, GCM Grosvenor is pushing into areas like private credit, infrastructure, co-investments, seeding emerging managers, and, importantly, distribution to individual investors through advisors and family offices. These moves could support growth, but they also bring execution risk and require sustained investment and careful scaling.

Summary

GCM Grosvenor is a specialized alternative asset manager with steady, if not explosive, revenue growth and a return to healthier profitability after a weaker year. Its earnings profile is inherently volatile, but the underlying business has shown an ability to generate cash consistently. The balance sheet is highly leveraged with negative equity, which heightens financial risk and makes ongoing cash generation particularly important. On the strategic side, the firm’s client-centric, bespoke solutions, depth in niche and diverse-manager strategies, and early commitment to ESG and impact investing strengthen its positioning against larger, more commoditized rivals. Its emphasis on data, technology partnerships, and new distribution channels suggests a forward-looking mindset. Overall, this is a cash-generative but leveraged business operating in a competitive, cyclical industry, with meaningful upside potential tied to execution in newer growth areas and continued ability to maintain client trust and performance through market cycles.

NEWS

November 5, 2025 · 8:00 AM UTC

GCM Grosvenor Reports Third Quarter 2025 Earnings Results, with Year-To-Date Fundraising Increasing 49% Year-Over-Year, Year-to-Date GAAP Net Income, Fee-Related Earnings and Adjusted Net Income Increasing 138%, 15% and 19%, Respectively, Year-Over-Year

Read more

November 4, 2025 · 4:30 AM UTC

Melford Carter, Former GCM Grosvenor Principal and Denali Co-Founder, Joins Star Mountain Capital as Senior Advisor

Read more

October 22, 2025 · 8:30 AM UTC

GCM Grosvenor to Announce Third Quarter 2025 Financial Results and Host Investor Conference Call on November 5, 2025

Read more

October 15, 2025 · 7:40 AM UTC

GCM Grosvenor Posts Investor Day Presentation and Announces Dividend Increase

Read more

October 1, 2025 · 8:18 AM UTC

Zenzic Capital Launches New European Opportunistic Credit Evergreen Fund

Read more