GAM Holding AG (GAM) AI Stock Analysis

GAM Holding AG

(Six Swiss:GAM)

Select Model

Rating:39Underperform

Price Target:CHF 0.06▼(-4.04% Downside)

Action:reiterated

Date:08/07/26

GAM Holding scores near the bottom of the range, driven primarily by its catastrophic financial deterioration: a 90% revenue collapse, persistent and deepening net losses, severe cash burn, and a balance sheet approaching insolvency with only CHF 29.6M in equity. Valuation metrics are meaningless given chronic unprofitability and no dividend. The only modest offset is a short-term technical bounce above near-term moving averages, but this is insufficient to overcome the fundamental distress. The company faces existential risk without a credible restructuring, recapitalization, or strategic transaction. This is a highly speculative, distressed situation with very limited financial flexibility.

Positive Factors

Diversified investment-management offeringThe broad product and client mix gives GAM multiple channels through which to retain and attract assets. Serving institutional, intermediary, and private clients across asset classes can support business diversification and reduce reliance on any single strategy or customer segment over time.

Negative Factors

Persistent losses and revenue contractionMulti-year losses combined with a shrinking revenue base indicate that GAM has not yet established a durable path to profitable scale. Continued contraction can reduce operating leverage, weaken client and investment capacity, and make recovery dependent on reversing both revenue pressure and cost burdens.

GAM Holding AG (GAM) vs. iShares MSCI Switzerland ETF (EWL)

Market Cap: CHF 66.52M
Dividend Yield: ―
Average Volume (3M): 408.04K
Price to Earnings (P/E): -1.1
Beta (1Y): 0.31
Revenue Growth: -35.48%
EPS Growth: 20.77%
Country: Switzerland
Employees: 227
Sector: Financial
Sector Strength: 68
Industry: Asset Management

GAM Holding AG Business Overview & Revenue Model

Company Description

GAM Holding AG is a publicly listed asset management group, offering specialized services to a broad spectrum of clients including institutions, financial intermediaries, and private investors. Its subsidiaries manage bespoke equity and fixed income...

GAM Holding AG Financial Statement Overview

Summary

GAM Holding is in severe financial distress. Revenue has collapsed ~90% over five years to CHF 71.6M, with a -43% decline in the most recent year. The company has posted persistent net losses (CHF -74.2M in 2025, net margin of -104%). The balance sheet is critically weakened with equity down to CHF 29.6M and debt-to-equity surging to 1.47x. Free cash flow is deeply negative at CHF -61.3M with no sign of improvement. All three financial statement scores (Income: 4, Balance Sheet: 10, Cash Flow: 5) indicate existential risk.

Income Statement

4Very Negative

Balance Sheet

10Very Negative

Cash Flow

5Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	64.20M	71.60M	143.30M	343.40M	463.40M	681.40M
Gross Profit	34.50M	62.20M	14.50M	55.20M	80.20M	123.60M
EBITDA	-48.40M	-63.60M	-51.30M	-39.10M	-30.70M	1.30M
Net Income	-58.20M	-74.20M	-70.90M	-82.10M	-290.00M	-23.30M
Balance Sheet
Total Assets	115.10M	122.80M	173.10M	266.00M	352.90M	755.20M
Cash, Cash Equivalents and Short-Term Investments	26.50M	39.90M	65.50M	87.80M	142.60M	245.90M
Total Debt	65.40M	43.40M	3.20M	36.60M	38.70M	48.00M
Total Liabilities	102.70M	93.20M	63.10M	204.40M	202.30M	276.70M
Stockholders Equity	12.40M	29.60M	110.00M	61.60M	150.60M	478.50M
Cash Flow
Free Cash Flow	-57.90M	-61.30M	-75.70M	-52.30M	-77.40M	-14.90M
Operating Cash Flow	-55.70M	-58.80M	-68.10M	-49.50M	-63.30M	5.80M
Investing Cash Flow	-3.50M	-3.80M	-25.00M	-2.80M	-14.10M	-23.50M
Financing Cash Flow	39.60M	35.40M	49.80M	27.00M	-13.90M	-16.30M

GAM Holding AG Technical Analysis

Technical Analysis SentimentNegative

Last Price0.06

Price Trends

50DMA0.07Negative

100DMA0.07Negative

200DMA0.09Negative

Market Momentum

MACD-0.00Positive

RSI41.71Neutral

STOCH20.00Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:GAM, the sentiment is Negative. The current price of 0.06 is below the 20-day moving average (MA) of 0.07, below the 50-day MA of 0.07, and below the 200-day MA of 0.09, indicating a bearish trend. The MACD of -0.00 indicates Positive momentum. The RSI at 41.71 is Neutral, neither overbought nor oversold. The STOCH value of 20.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:GAM.

GAM Holding AG Peers Comparison

Overall Rating

UnderperformOutperform

Sector (68)

Financial Indicators

CH:GAM against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CH:PGHN	75Outperform	CHF 16.59B	13.97	―	7.18%	8.63%	-0.75%
CH:VONN	74Outperform	CHF 5.02B	13.28	14.87%	3.33%	11.49%	51.27%
CH:EFGN	73Outperform	CHF 4.94B	17.31	12.14%	4.04%	-0.85%	-25.22%
Sector *	68Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CH:BAER	64Neutral	CHF 14.20B	12.43	―	3.77%	-0.29%	31.63%
CH:UBSG	60Neutral	CHF 120.14B	15.65	10.53%	2.18%	-5.43%	29.16%
CH:GAM	39Underperform	CHF 67.41M	-1.13	-277.14%	―	-35.48%	20.77%

* Financial Sector Average

Performance Comparison

CH:GAM and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
CH:GAM	GAM Holding AG	0.06	-0.12	-66.10%
CH:UBSG	Ubs Group	39.24	9.38	31.41%
CH:PGHN	Partners Group Holding	640.40	-280.97	-30.49%
CH:BAER	Julius Baer Group	69.00	17.14	33.05%
CH:EFGN	EFG International AG	16.10	-0.13	-0.77%
CH:VONN	Vontobel Holding AG	90.20	32.62	56.65%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 07, 2026

GAM Holding AG AI Stock Analysis