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GAM Holding AG
(GAM)
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Rating:48Neutral
Price Target:
CHF0.07
▼(-13.75% Downside)
Action:Reiterated
Date:08/07/26
The score is held down primarily by very weak financial performance—multi-year losses, contracting revenue, negative free cash flow, and a materially more levered balance sheet in 2025. Technicals provide some support due to improving near-term momentum and price strength versus shorter moving averages, but the stock remains below the 200-day average. Valuation is not supportive because the company is loss-making and no dividend yield is available.
Positive Factors
Recurring fee model
Recurring management and advisory fees provide an established revenue model linked to ongoing client relationships and assets managed. Although fee income varies with AUM, the model can support revenue visibility when mandates are retained and gives GAM multiple ways to monetize investment expertise.
Negative Factors
Severe revenue contraction
Sharp and sustained revenue contraction weakens the earnings base and reduces the scale available to absorb operating and distribution costs. For a fee-based asset manager, declining revenue can also signal lower AUM, client outflows, or weaker demand, making a durable recovery more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring fee model
Recurring management and advisory fees provide an established revenue model linked to ongoing client relationships and assets managed. Although fee income varies with AUM, the model can support revenue visibility when mandates are retained and gives GAM multiple ways to monetize investment expertise.
Read all positive factors
GAM Holding AG (GAM) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF77.61M
Dividend Yield5.97%
Average Volume (3M)544.66K
Price to Earnings (P/E)―
Beta (1Y)0.42
Revenue Growth-35.48%
EPS Growth20.77%
CountryCH
Employees227
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-0.05
Shares Outstanding1,112,215,300
10 Day Avg. Volume91,678
30 Day Avg. Volume544,657
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)5.32
Price to Sales (P/S)2.20
P/FCF Ratio-2.57
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.01
Revenue Forecast (FY)N/A
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 inco...
How the Company Makes Money
GAM primarily makes money by charging fees for managing client assets and delivering investment-related services. The core revenue stream is recurring management fees earned as a percentage of assets under management (AUM) in its investment produc...
GAM Holding AG Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
28
Negative
Cash Flow
10
Very Negative
| 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
Negative
0.08
Price Trends
0.07
Negative
0.07
Negative
0.10
Negative
Market Momentum
>-0.01
Positive
43.76
Neutral
23.23
Neutral
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 0.08 is above the 20-day moving average (MA) of 0.07, above the 50-day MA of 0.07, and below the 200-day MA of 0.10, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.76 is Neutral, neither overbought nor oversold. The STOCH value of 23.23 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
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | CHF16.04B | 13.55 | ― | 7.41% | 8.63% | -0.75% | |
74 Outperform | CHF126.45B | 17.05 | 10.26% | 2.04% | -9.74% | 42.77% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | CHF14.89B | 13.24 | ― | 3.54% | -0.29% | 31.63% | |
67 Neutral | CHF5.12B | 13.74 | 14.87% | 3.22% | 11.49% | 51.27% | |
66 Neutral | CHF4.65B | 16.60 | 12.14% | 4.21% | -0.85% | -25.22% | |
48 Neutral | CHF77.61M | -1.30 | -277.14% | 5.97% | -35.48% | 20.77% |
* Financial Sector Average
CH:GAM
GAM Holding AG
0.07
-0.05
-42.15%
CH:UBSG
UBS Group AG
41.89
9.88
30.89%
CH:PGHN
Partners Group Holding AG
621.00
-425.15
-40.64%
CH:BAER
Julius Baer Group Ltd
73.50
20.62
39.00%
CH:EFGN
EFG International AG
15.44
0.04
0.29%
CH:VONN
Vontobel Holding AG
93.30
35.43
61.23%
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.