General de Alquiler de Maquinaria (GAM) AI Stock Analysis

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General de Alquiler de Maquinaria

(BME:GAM)

Select Model

Rating:57Neutral

Price Target:EUR 1.50▲(7.91% Upside)

Action:reiterated

Date:10/31/26

The score is primarily constrained by high leverage on the balance sheet and thin bottom-line profitability, despite solid operating cash flow and improving operating margins. Technicals are mildly weak with the stock trading below key moving averages and slightly negative momentum. Valuation is moderately supportive based on a P/E of 12.775.

Positive Factors

Stable Operating Cash FlowConsistent operating cash generation supports GAM’s rental-led business model and provides internal funding for maintenance, fleet needs, and operations. This recurring cash support can help the company manage leverage and preserve financial flexibility across the next several quarters.

Negative Factors

Elevated and Worsening LeverageHigher leverage increases GAM’s sensitivity to cyclical demand declines, financing conditions, and weaker asset utilization. It can also constrain capital allocation by directing more cash toward debt obligations, leaving less flexibility to fund fleet investment or absorb operating pressure.

General de Alquiler de Maquinaria (GAM) vs. iShares MSCI Spain ETF (EWP)

Market Cap: EUR 130.63M
Dividend Yield: ―
Average Volume (3M): 7,846
Price to Earnings (P/E): 12.8
Beta (1Y): 0.51
Revenue Growth: 2.34%
EPS Growth: 100.55%
Country: Spain
Employees: 1,865
Sector: General
Sector Strength: 55
Industry: Rental & Leasing Services

General de Alquiler de Maquinaria Business Overview & Revenue Model

Company Description

General de Alquiler de Maquinaria, S.A. (GAM) is a prominent company primarily engaged in the rental of machinery and equipment. Its operations extend across Spain and into international markets. The company's extensive inventory includes specialized...

How the Company Makes Money

GAM primarily generates revenue by providing machinery and equipment on a rental/lease basis, charging customers recurring fees for the use of assets over agreed periods (short-, medium-, or long-term). This rental activity is typically complemented...

General de Alquiler de Maquinaria Financial Statement Overview

Summary

Income statement trends are mixed: revenue expanded strongly through 2023 and operating profitability improved into 2025, but net profitability remains thin and gross margin fell sharply in 2025. The balance sheet is the main weakness due to elevated and worsening leverage in 2025, increasing sensitivity to downturns. Cash flow is a support—operating cash generation is stable and free cash flow remains positive, though it declined in 2025 versus 2024.

Income Statement

68Positive

Balance Sheet

45Neutral

Cash Flow

60Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	320.12M	316.11M	304.04M	280.86M	223.24M	168.26M
Gross Profit	73.79M	68.30M	193.59M	168.61M	142.62M	108.14M
EBITDA	73.77M	87.05M	78.87M	59.77M	56.17M	42.72M
Net Income	10.17M	6.74M	4.40M	9.07M	7.66M	2.63M
Balance Sheet
Total Assets	573.07M	562.74M	551.23M	537.22M	449.52M	339.21M
Cash, Cash Equivalents and Short-Term Investments	27.42M	33.45M	30.38M	39.08M	57.54M	13.88M
Total Debt	321.57M	310.35M	191.31M	336.95M	283.63M	201.81M
Total Liabilities	454.34M	451.25M	444.02M	433.20M	351.98M	254.29M
Stockholders Equity	117.48M	110.29M	105.17M	101.95M	93.51M	84.50M
Cash Flow
Free Cash Flow	37.40M	31.72M	33.20M	17.91M	5.13M	9.34M
Operating Cash Flow	84.85M	78.41M	78.96M	81.69M	49.54M	40.44M
Investing Cash Flow	-54.78M	-48.59M	-46.96M	-83.72M	-42.41M	-39.81M
Financing Cash Flow	-24.77M	-26.75M	-40.71M	-16.43M	36.53M	-7.73M

General de Alquiler de Maquinaria Technical Analysis

Technical Analysis SentimentNeutral

Last Price1.39

Price Trends

50DMA1.40Negative

100DMA1.45Negative

200DMA1.47Negative

Market Momentum

MACD-0.01Positive

RSI48.07Neutral

STOCH30.77Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:GAM, the sentiment is Neutral. The current price of 1.39 is below the 20-day moving average (MA) of 1.40, below the 50-day MA of 1.40, and below the 200-day MA of 1.47, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 48.07 is Neutral, neither overbought nor oversold. The STOCH value of 30.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ES:GAM.

General de Alquiler de Maquinaria Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

ES:GAM against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ES:FER	67Neutral	EUR 36.20B	58.95	10.42%	2.19%	5.46%	-81.98%
ES:FCC	60Neutral	EUR 4.84B	22.73	6.14%	4.88%	9.68%	-10.60%
ES:GAM	57Neutral	EUR 130.63M	12.78	8.93%	―	2.34%	100.55%
ES:OHLA	57Neutral	EUR 481.92M	15.16	5.26%	―	-2.92%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
ES:ANA	51Neutral	EUR 11.13B	30.75	7.63%	2.77%	7.62%	-56.65%

* General Sector Average

Performance Comparison

ES:GAM and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
ES:GAM	General de Alquiler de Maquinaria	1.39	-0.10	-6.71%
ES:ANA	Acciona SA	203.60	12.70	6.65%
ES:FER	Ferrovial SA	50.70	-2.68	-5.02%
ES:FCC	Fomento de Construcciones y Contratas	10.24	-0.75	-6.82%
ES:OHLA	Obrascon Huarte Lain	0.35	-0.10	-23.01%
ES:ALQ	Alquiber Quality SA	16.20	3.81	30.77%

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: Oct 30, 2026

General de Alquiler de Maquinaria AI Stock Analysis

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