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GAM Holding AG
(GAM)
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Rating:42Neutral
Price Target:
CHF0.06
▲(0.00% Upside)
Action:Reiterated
Date:07/08/26
The score is primarily constrained by weak financial performance, including multi-year losses, negative free cash flow, and a notable 2025 balance-sheet deterioration (higher leverage and reduced equity). Technicals add further pressure with price trading below key moving averages and a negative MACD, while valuation is not supportive given the negative P/E and lack of dividend yield data.
Positive Factors
Fee-based asset management model
A fee-based model tied to AUM yields a recurring revenue base that is structurally more stable than transactional income. Over a multi-month horizon this supports predictable revenue when AUM is stable, aligns manager-client incentives and enables scalable margins as assets grow.
Negative Factors
Persistent multi-year net losses
Six consecutive years of net losses erode retained earnings and reduce strategic flexibility. Persistent losses constrain reinvestment, make it harder to retain talent and clients, and lengthen the timeline required for operational fixes to restore sustainable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Fee-based asset management model
A fee-based model tied to AUM yields a recurring revenue base that is structurally more stable than transactional income. Over a multi-month horizon this supports predictable revenue when AUM is stable, aligns manager-client incentives and enables scalable margins as assets grow.
Read all positive factors
GAM Holding AG (GAM) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF71.77M
Dividend YieldN/A
Average Volume (3M)187.46K
Price to Earnings (P/E)―
Beta (1Y)0.14
Revenue Growth-51.49%
EPS Growth65.36%
CountryCH
Employees226
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-0.07
Shares Outstanding1,107,643,400
10 Day Avg. Volume86,867
30 Day Avg. Volume187,461
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 | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 71.60M | 143.30M | 343.40M | 463.40M | 681.40M |
| Gross Profit | 62.20M | 14.50M | 55.20M | 80.20M | 123.60M |
| EBITDA | -63.60M | -51.30M | -39.10M | -30.70M | 1.30M |
| Net Income | -74.20M | -70.90M | -82.10M | -290.00M | -23.30M |
Balance Sheet | |||||
| Total Assets | 122.80M | 173.10M | 266.00M | 352.90M | 755.20M |
| Cash, Cash Equivalents and Short-Term Investments | 39.90M | 65.50M | 87.80M | 142.60M | 245.90M |
| Total Debt | 43.40M | 3.20M | 36.60M | 38.70M | 48.00M |
| Total Liabilities | 93.20M | 63.10M | 204.40M | 202.30M | 276.70M |
| Stockholders Equity | 29.60M | 110.00M | 61.60M | 150.60M | 478.50M |
Cash Flow | |||||
| Free Cash Flow | -61.30M | -75.70M | -52.30M | -77.40M | -14.90M |
| Operating Cash Flow | -58.80M | -68.10M | -49.50M | -63.30M | 5.80M |
| Investing Cash Flow | -3.80M | -25.00M | -2.80M | -14.10M | -23.50M |
| Financing Cash Flow | 35.40M | 49.80M | 27.00M | -13.90M | -16.30M |
GAM Holding AG Technical Analysis
Neutral
0.06
Price Trends
0.07
Negative
0.08
Negative
0.11
Negative
Market Momentum
>-0.01
Negative
50.14
Neutral
45.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:GAM, the sentiment is Neutral. The current price of 0.06 is below the 20-day moving average (MA) of 0.06, below the 50-day MA of 0.07, and below the 200-day MA of 0.11, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 50.14 is Neutral, neither overbought nor oversold. The STOCH value of 45.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | CHF6.50B | 17.09 | ― | 1.82% | 8.23% | 24.29% | |
70 Outperform | CHF2.64B | 14.39 | 14.28% | 5.11% | -3.21% | 3.07% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | CHF4.77B | 12.71 | 9.43% | 3.74% | 11.49% | 51.27% | |
66 Neutral | CHF4.87B | 17.29 | 12.14% | 4.07% | -0.85% | -25.22% | |
52 Neutral | CHF313.24M | -9.88 | ― | 17.96% | -32.12% | -4018.55% | |
42 Neutral | CHF71.77M | -0.95 | -150.51% | ― | -51.49% | 65.36% |
* Financial Sector Average
CH:GAM
GAM Holding AG
0.07
-0.04
-35.00%
CH:EFGN
EFG International AG
16.08
0.64
4.18%
CH:VONN
Vontobel Holding AG
86.30
29.39
51.64%
CH:CMBN
Cembra Money Bank AG
89.80
3.73
4.34%
CH:LEON
Leonteq AG
17.00
-0.74
-4.17%
CH:SQN
Swissquote Group Holding Ltd.
41.88
-11.96
-22.21%
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.