GCM Grosvenor (GCMG) Financials

$11.26 +0.20 (+1.81%)

Closing price 04:00 PM Eastern

Extended Trading

$11.30 +0.04 (+0.31%)

As of 07:56 PM Eastern

Annual Income Statements for GCM Grosvenor

This table shows GCM Grosvenor's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	0.00	0.00	4.05	21	20	13	19	45
Consolidated Net Income / (Loss)	64	60	-83	142	79	-29	37	142
Net Income / (Loss) Continuing Operations	64	60	-83	142	79	-29	37	142
Total Pre-Tax Income	65	62	-79	153	89	-22	50	155
Total Operating Income	75	85	-43	109	80	-12	73	133
Total Gross Profit	168	173	42	198	169	89	178	238
Total Revenue	378	416	430	532	447	445	514	558
Operating Revenue	378	416	430	532	447	445	514	558
Total Cost of Revenue	210	243	388	334	277	356	336	319
Operating Cost of Revenue	210	243	388	334	277	356	336	319
Total Operating Expenses	93	88	85	88	89	101	104	105
Selling, General & Admin Expense	93	88	85	88	89	101	104	105
Total Other Income / (Expense), net	-10	-23	-36	44	8.78	-9.67	-23	21
Interest Expense	26	26	23	20	23	24	24	23
Interest & Investment Income	17	7.52	-	-	10	12	16	16
Other Income / (Expense), net	-0.54	-4.49	-12	64	22	2.44	-15	28
Income Tax Expense	1.40	2.32	4.51	11	9.61	7.69	14	13
Net Income / (Loss) Attributable to Noncontrolling Interest	64	60	-87	121	60	-42	18	97
Basic Earnings per Share	$0.00	$0.00	$0.10	$0.49	$0.45	$0.30	$0.42	$0.87
Weighted Average Basic Shares Outstanding	0.00	0.00	39.98M	43.77M	43.87M	43.20M	44.74M	51.96M
Diluted Earnings per Share	$0.00	$0.00	($0.58)	$0.28	$0.28	($0.28)	$0.03	$0.42
Weighted Average Diluted Shares Outstanding	0.00	0.00	184.22M	189.06M	188.57M	187.43M	190.59M	197.29M
Weighted Average Basic & Diluted Shares Outstanding	-	-	185.84M	43.98M	185.85M	187.23M	189.15M	202.48M
Cash Dividends to Common per Share	-	-	-	-	-	$0.44	$0.44	$0.45

This table shows GCM Grosvenor's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	4.85	5.90	3.26	2.12	4.80	4.16	7.62	0.46	15	10	19
Consolidated Net Income / (Loss)	-36	18	4.57	-19	13	12	30	-1.09	40	45	58
Net Income / (Loss) Continuing Operations	-36	18	4.57	-19	13	12	30	-1.09	40	45	58
Total Pre-Tax Income	-34	21	6.45	-18	16	15	36	2.50	40	49	64
Total Operating Income	-36	24	13	-16	21	25	44	15	19	44	55
Total Gross Profit	-7.26	45	38	9.22	49	50	70	44	45	69	81
Total Revenue	108	122	117	109	117	123	165	126	120	135	177
Operating Revenue	108	122	117	109	117	123	165	126	120	135	177
Total Cost of Revenue	115	76	79	100	68	73	95	82	75	66	96
Operating Cost of Revenue	115	76	79	100	68	73	95	82	75	66	96
Total Operating Expenses	29	21	25	25	28	25	26	28	26	25	26
Selling, General & Admin Expense	29	21	25	25	28	25	26	28	26	25	26
Total Other Income / (Expense), net	1.78	-2.95	-6.67	-1.84	-4.63	-9.68	-7.17	-13	20	4.53	9.34
Interest & Investment Income	-5.68	-5.69	-	-0.25	-4.84	2.68	-	-4.90	-0.13	7.29	14
Other Income / (Expense), net	7.46	2.74	-13	-1.59	0.21	-6.44	-17	-7.93	21	2.81	13
Income Tax Expense	2.05	3.34	1.88	1.11	3.24	3.19	6.02	3.59	-0.20	3.62	5.89
Net Income / (Loss) Attributable to Noncontrolling Interest	-41	12	1.31	-21	8.16	7.98	23	-1.55	24	35	39
Basic Earnings per Share	$0.11	$0.14	$0.08	$0.05	$0.11	$0.09	$0.17	$0.01	$0.30	$0.20	$0.36
Weighted Average Basic Shares Outstanding	43.71M	43.47M	43.20M	43.67M	44.93M	45.16M	44.74M	45.63M	51.07M	53.59M	51.96M
Diluted Earnings per Share	($0.23)	$0.04	$0.01	($0.13)	$0.04	$0.03	$0.09	($0.02)	$0.05	$0.16	$0.23
Weighted Average Diluted Shares Outstanding	187.94M	188.00M	187.43M	187.91M	190.18M	190.60M	190.59M	189.87M	196.34M	197.48M	197.29M
Weighted Average Basic & Diluted Shares Outstanding	186.08M	187.22M	187.23M	188.46M	188.81M	189.13M	189.15M	194.23M	194.89M	194.20M	202.48M

This table details how cash moves in and out of GCM Grosvenor's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-29	12	118	-102	-11	-41	45	153
Net Cash From Operating Activities	117	96	68	179	217	92	149	184
Net Cash From Continuing Operating Activities	117	96	68	179	217	92	149	184
Net Income / (Loss) Continuing Operations	64	60	-83	142	79	-29	37	142
Consolidated Net Income / (Loss)	64	60	-83	142	79	-29	37	142
Depreciation Expense	12	10	9.82	4.02	3.86	2.70	3.32	4.42
Amortization Expense	0.79	1.80	1.47	4.07	5.28	-5.60	-6.70	-6.81
Non-Cash Adjustments To Reconcile Net Income	31	35	148	-19	172	114	89	59
Changes in Operating Assets and Liabilities, net	10	-11	-8.37	48	-44	9.74	26	-15
Net Cash From Investing Activities	7.96	6.13	-5.53	-28	-10	-19	-32	-27
Net Cash From Continuing Investing Activities	7.96	6.13	-5.53	-28	-10	-19	-32	-27
Purchase of Property, Plant & Equipment	-0.87	-4.00	-1.31	-0.58	-0.78	-3.76	-17	-8.50
Purchase of Investments	-23	-22	-24	-40	-29	-28	-26	-35
Sale and/or Maturity of Investments	32	32	20	11	20	13	11	17
Net Cash From Financing Activities	-154	-91	55	-251	-215	-114	-70	-4.86
Net Cash From Continuing Financing Activities	-154	-91	55	-251	-215	-114	-70	-4.86
Repayment of Debt	-29	-7.33	-136	-56	-4.00	-4.00	-3.75	-4.38
Repurchase of Common Equity	-	0.00	0.00	-2.16	-29	-4.48	0.00	-31
Payment of Dividends	-131	-113	-193	-174	-177	-97	-106	-126
Issuance of Debt	0.00	25	20	110	0.00	0.00	50	0.00
Issuance of Common Equity	6.45	4.72	178	3.47	1.79	2.26	1.87	53
Other Financing Activities, net	0.00	0.02	187	-133	-6.45	-10	-13	103
Effect of Exchange Rate Changes	-	-	0.88	-1.38	-2.40	-0.37	-1.46	0.49
Cash Interest Paid	24	23	21	14	18	30	32	29
Cash Income Taxes Paid	1.35	1.74	3.16	4.37	8.54	3.45	5.02	6.50

This table details how cash moves in and out of GCM Grosvenor's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-11	4.60	-11	-2.49	32	25	-8.99	5.05	42	46	59
Net Cash From Operating Activities	27	44	27	24	17	69	38	33	42	80	28
Net Cash From Continuing Operating Activities	27	44	27	24	17	69	38	33	42	80	28
Net Income / (Loss) Continuing Operations	-36	18	4.57	-19	13	12	30	-1.09	40	45	58
Consolidated Net Income / (Loss)	-36	18	4.57	-19	13	12	30	-1.09	40	45	58
Depreciation Expense	0.68	0.70	0.64	0.63	0.64	1.05	1.00	1.01	1.15	1.16	1.10
Amortization Expense	-1.62	-1.63	-1.64	-1.62	-1.66	-1.71	-1.72	-1.68	-1.70	-1.72	-1.72
Non-Cash Adjustments To Reconcile Net Income	61	29	21	64	18	8.36	-0.43	82	11	8.23	-43
Changes in Operating Assets and Liabilities, net	2.79	-1.68	2.46	-19	-12	49	8.83	-47	-8.47	27	14
Net Cash From Investing Activities	-4.73	-3.56	-5.81	-8.66	-7.84	-8.61	-6.73	-1.14	-6.49	-6.84	-12
Net Cash From Continuing Investing Activities	-4.73	-3.56	-5.81	-8.66	-7.84	-8.61	-6.73	-1.14	-6.49	-6.84	-12
Purchase of Property, Plant & Equipment	-0.58	-0.54	-2.45	-4.20	-4.67	-6.75	-1.12	-1.17	-1.22	-1.55	-4.56
Purchase of Investments	-6.85	-5.72	-6.57	-6.05	-5.96	-5.19	-9.04	-5.89	-9.17	-8.63	-11
Sale and/or Maturity of Investments	2.69	2.69	3.21	1.59	2.79	3.33	3.43	5.92	3.90	3.34	3.51
Net Cash From Financing Activities	-32	-35	-33	-17	23	-37	-39	-28	5.65	-26	43
Net Cash From Continuing Financing Activities	-32	-35	-33	-17	23	-37	-39	-28	5.65	-26	43
Repayment of Debt	-1.00	-1.00	-1.00	-1.00	-0.56	-1.10	-1.10	-1.10	-1.10	-1.10	-1.10
Payment of Dividends	-27	-28	-32	-16	-17	-34	-38	-29	-29	-26	-42
Issuance of Common Equity	0.69	0.96	0.44	0.40	0.40	0.56	0.51	0.26	51	0.81	1.10
Other Financing Activities, net	-3.79	-6.43	-	-0.15	-10	-2.43	-	2.45	-15	-0.22	116
Effect of Exchange Rate Changes	-0.54	-0.61	0.85	-0.79	-0.49	1.34	-1.52	0.62	0.70	-0.33	-0.50
Cash Interest Paid	7.44	7.77	7.83	7.82	8.04	8.65	7.76	7.17	7.22	7.29	6.92
Cash Income Taxes Paid	1.63	0.61	0.66	1.38	2.05	2.17	-0.58	1.32	3.83	0.14	1.20

This table presents GCM Grosvenor's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	373	632	582	489	505	613	814
Total Current Assets	80	198	323	98	298	360	532
Cash & Equivalents	80	198	96	85	44	89	242
Short-Term Investments	-	-	226	-	240	258	275
Accounts Receivable	-	-	-	13	14	13	15
Plant, Property, & Equipment, net	8.87	7.87	5.41	4.62	7.38	23	30
Total Noncurrent Assets	90	426	254	386	199	230	252
Goodwill	29	29	29	29	29	29	29
Intangible Assets	16	8.59	6.26	3.94	2.63	1.31	0.00
Noncurrent Deferred & Refundable Income Taxes	0.13	74	69	60	58	51	57
Other Noncurrent Operating Assets	45	245	150	276	110	149	166
Total Liabilities & Shareholders' Equity	373	632	582	489	505	613	814
Total Liabilities	587	599	637	583	616	703	686
Total Current Liabilities	52	61	28	27	73	85	95
Accrued Expenses	52	61	28	27	31	31	43
Other Current Liabilities	-	-	0.00	-	41	54	52
Total Noncurrent Liabilities	512	538	609	556	543	618	591
Long-Term Debt	449	335	391	388	385	432	428
Noncurrent Employee Benefit Liabilities	64	75	129	89	99	113	108
Other Noncurrent Operating Liabilities	0.00	129	90	79	60	74	55
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	0.00	-82	-56	-94	-111	-90	127
Total Preferred & Common Equity	0.00	-29	-26	-20	-28	-28	27
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	0.00	-29	-26	-20	-28	-28	27
Common Stock	0.00	2.72	1.52	0.02	1.95	5.77	44
Retained Earnings	0.00	-30	-26	-24	-32	-35	-16
Accumulated Other Comprehensive Income / (Loss)	-	-2.23	-1.01	4.10	2.63	1.65	-0.77
Noncontrolling Interest	-	-53	-30	-74	-84	-63	100

This table presents GCM Grosvenor's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	549	472	451	505	497	544	575	580	637	686
Total Current Assets	326	294	299	308	301	334	357	361	413	467
Cash & Equivalents	102	62	51	55	42	74	98	94	136	183
Short-Term Investments	224	232	236	240	248	251	251	255	263	269
Accounts Receivable	-	-	12	13	10	9.19	7.40	11	14	15
Plant, Property, & Equipment, net	5.59	4.18	4.40	4.55	13	17	22	23	24	24
Total Noncurrent Assets	218	174	147	192	184	193	197	196	200	195
Goodwill	29	29	29	29	29	29	29	29	29	29
Intangible Assets	4.52	3.61	3.28	2.96	2.30	1.97	1.64	0.99	0.66	0.33
Noncurrent Deferred & Refundable Income Taxes	62	62	60	58	59	55	54	51	61	61
Other Noncurrent Operating Assets	123	80	56	103	94	107	113	115	109	105
Total Liabilities & Shareholders' Equity	549	472	451	505	497	544	575	580	637	686
Total Liabilities	596	580	552	598	598	638	688	669	657	682
Total Current Liabilities	38	56	45	69	75	80	100	92	95	96
Accrued Expenses	22	41	33	27	32	31	46	39	41	44
Other Current Liabilities	16	15	13	43	43	48	55	53	54	52
Total Noncurrent Liabilities	558	524	507	529	523	558	588	578	563	586
Long-Term Debt	388	387	386	385	384	434	433	431	430	429
Noncurrent Employee Benefit Liabilities	100	71	60	83	77	62	85	64	61	87
Other Noncurrent Operating Liabilities	70	65	61	61	62	63	70	82	72	70
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-47	-108	-101	-94	-101	-94	-113	-90	-21	3.82
Total Preferred & Common Equity	-19	-26	-25	-25	-26	-28	-32	-28	-12	-7.39
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-19	-26	-25	-25	-26	-28	-32	-28	-12	-7.39
Common Stock	0.02	1.30	1.60	1.10	4.84	5.07	5.33	12	19	20
Retained Earnings	-24	-30	-30	-31	-34	-36	-37	-41	-31	-27
Accumulated Other Comprehensive Income / (Loss)	4.98	2.75	4.05	4.71	2.97	2.43	0.16	0.55	0.05	-0.50
Noncontrolling Interest	-28	-82	-76	-69	-74	-65	-81	-61	-8.35	11

This table displays calculated financial ratios and metrics derived from GCM Grosvenor's official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	10.01%	3.26%	23.63%	-16.00%	-0.34%	15.51%	8.47%
EBITDA Growth	0.00%	6.40%	-147.48%	512.21%	-38.51%	-111.05%	549.44%	187.41%
EBIT Growth	0.00%	7.90%	-168.65%	413.39%	-40.92%	-109.20%	724.24%	174.92%
NOPAT Growth	0.00%	11.28%	-136.89%	436.46%	-29.44%	-111.57%	746.60%	128.17%
Net Income Growth	0.00%	-5.79%	-238.67%	270.75%	-44.05%	-136.75%	225.33%	288.05%
EPS Growth	0.00%	0.00%	0.00%	148.28%	0.00%	-200.00%	110.71%	1,300.00%
Operating Cash Flow Growth	0.00%	-17.80%	-29.13%	162.29%	21.09%	-57.48%	61.60%	23.37%
Free Cash Flow Firm Growth	0.00%	0.00%	-320.22%	219.64%	-148.06%	269.49%	-77.22%	62.80%
Invested Capital Growth	0.00%	0.00%	1,123.30%	-92.83%	1,610.78%	-105.30%	49.71%	791.21%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	7.07%	-16.89%	3.91%	10.47%	2.17%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	886.24%	-41.98%	-223.53%	37.63%	23.91%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	1,606.04%	-43.79%	-188.89%	33.86%	23.38%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	576.89%	-41.04%	-5.91%	134.00%	11.38%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	795.46%	-45.41%	-30.55%	240.28%	24.27%
EPS Q/Q Growth	0.00%	0.00%	0.00%	145.16%	-49.09%	-16.67%	160.00%	50.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	5.28%	11.64%	-24.52%	8.32%	-4.98%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-146.71%	1,739.69%	-1.66%	-20.77%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-92.44%	1,216.27%	-218.31%	81.15%	307.38%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	44.41%	41.65%	9.66%	37.20%	37.90%	19.99%	34.59%	42.73%
EBITDA Margin	23.00%	22.24%	-10.23%	34.09%	24.96%	-2.77%	10.77%	28.53%
Operating Margin	19.85%	20.41%	-10.03%	20.58%	17.99%	-2.66%	14.30%	23.94%
EBIT Margin	19.71%	19.33%	-12.85%	32.57%	22.91%	-2.11%	11.43%	28.96%
Profit (Net Income) Margin	16.83%	14.41%	-19.35%	26.73%	17.80%	-6.56%	7.12%	25.48%
Tax Burden Percent	97.86%	96.28%	105.73%	92.82%	89.21%	135.75%	72.97%	91.67%
Interest Burden Percent	87.26%	77.44%	142.44%	88.40%	87.09%	228.65%	85.41%	95.96%
Effective Tax Rate	2.14%	3.72%	0.00%	7.18%	10.79%	0.00%	27.03%	8.33%
Return on Invested Capital (ROIC)	0.00%	0.00%	-39.37%	111.51%	64.95%	-8.40%	0.00%	744.23%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-127.44%	151.05%	69.17%	-18.79%	0.00%	-190.28%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	-465.95%	-1,353.92%	-171.06%	36.86%	0.00%	21.63%
Return on Equity (ROE)	0.00%	0.00%	-505.31%	-1,242.40%	-106.11%	28.46%	-36.32%	765.86%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-127.53%	284.75%	-112.97%	0.00%	0.00%	203.81%
Operating Return on Assets (OROA)	0.00%	21.57%	-10.99%	28.53%	19.11%	-1.89%	10.51%	22.64%
Return on Assets (ROA)	0.00%	16.08%	-16.55%	23.41%	14.85%	-5.88%	6.55%	19.91%
Return on Common Equity (ROCE)	0.00%	0.00%	450.24%	-2,990.68%	-32.25%	6.58%	-9.96%	-12.97%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	283.56%	-552.58%	-401.02%	105.69%	-132.53%	0.00%
Net Operating Profit after Tax (NOPAT)	74	82	-30	102	72	-8.29	54	122
NOPAT Margin	19.42%	19.65%	-7.02%	19.10%	16.05%	-1.86%	10.43%	21.94%
Net Nonoperating Expense Percent (NNEP)	0.00%	-262.66%	88.07%	-39.54%	-4.23%	10.39%	18.40%	934.51%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	24.40%	-3.03%	15.69%	22.01%
Cost of Revenue to Revenue	55.59%	58.35%	90.34%	62.80%	62.10%	80.01%	65.41%	57.27%
SG&A Expenses to Revenue	24.56%	21.24%	19.68%	16.62%	19.91%	22.65%	20.29%	18.79%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	24.56%	21.24%	19.68%	16.62%	19.91%	22.65%	20.29%	18.79%
Earnings before Interest and Taxes (EBIT)	75	80	-55	173	102	-9.41	59	161
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	87	93	-44	181	111	-12	55	159
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	81.44
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	1.12	3.27	2.87	3.61	4.51	3.94
Price to Earnings (P/E)	0.00	0.00	118.87	80.94	64.76	125.76	124.13	48.45
Dividend Yield	0.00%	0.00%	0.00%	3.57%	5.96%	5.13%	3.59%	3.98%
Earnings Yield	0.00%	0.00%	0.84%	1.24%	1.54%	0.80%	0.81%	2.06%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	4.00	145.81	7.25	0.00	0.00	57.49
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	1.58	3.34	3.39	3.65	4.56	3.96
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	9.80	13.57	0.00	42.32	13.89
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	10.26	14.78	0.00	39.89	13.68
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	17.50	21.10	0.00	43.69	18.06
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	9.98	9.94	6.98	17.63	15.75	12.04
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	6.85	0.00	7.68	48.69	28.21
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	10.18	-7.00	-4.12	-3.46	-4.78	3.36
Long-Term Debt to Equity	0.00	0.00	10.18	-7.00	-4.12	-3.46	-4.78	3.36
Financial Leverage	0.00	0.00	3.66	-8.96	-2.47	-1.96	-0.92	-0.11
Leverage Ratio	0.00	0.00	30.53	-53.08	-7.15	-4.84	-5.54	38.46
Compound Leverage Factor	0.00	0.00	43.49	-46.92	-6.22	-11.07	-4.74	36.90
Debt to Total Capital	0.00%	100.00%	91.05%	116.67%	132.02%	140.67%	126.44%	77.08%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	100.00%	91.05%	116.67%	132.02%	140.67%	126.44%	77.08%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	16.92%	-8.99%	-25.27%	-30.57%	-18.36%	18.07%
Common Equity to Total Capital	0.00%	0.00%	-7.97%	-7.68%	-6.75%	-10.10%	-8.08%	4.86%
Debt to EBITDA	0.00	4.84	-7.62	2.15	3.48	-31.24	7.81	2.69
Net Debt to EBITDA	0.00	3.98	-3.12	0.38	2.71	-8.13	1.53	-0.56
Long-Term Debt to EBITDA	0.00	4.84	-7.62	2.15	3.48	-31.24	7.81	2.69
Debt to NOPAT	0.00	5.48	-11.11	3.85	5.41	-46.40	8.06	3.50
Net Debt to NOPAT	0.00	4.51	-4.54	0.67	4.22	-12.08	1.58	-0.73
Long-Term Debt to NOPAT	0.00	5.48	-11.11	3.85	5.41	-46.40	8.06	3.50
Altman Z-Score	0.00	0.00	1.07	4.08	3.03	2.83	3.59	3.88
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	189.10%	-140.72%	69.61%	76.88%	72.59%	101.69%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.53	3.25	11.51	3.61	4.10	4.26	5.59
Quick Ratio	0.00	1.53	3.25	11.51	3.61	4.10	4.26	5.59
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	98	-217	259	-125	211	48	78
Operating Cash Flow to CapEx	13,482.60%	2,407.83%	5,211.77%	30,988.39%	27,687.08%	2,446.59%	889.32%	2,160.04%
Free Cash Flow to Firm to Interest Expense	0.00	3.83	-9.24	12.91	-5.35	8.90	1.99	3.44
Operating Cash Flow to Interest Expense	4.42	3.75	2.91	8.90	9.29	3.88	6.16	8.05
Operating Cash Flow Less CapEx to Interest Expense	4.39	3.59	2.85	8.87	9.25	3.72	5.47	7.68
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.00	1.12	0.86	0.88	0.83	0.90	0.92	0.78
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	33.33	39.14	40.87
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	46.94	51.37	80.05	89.03	74.18	34.20	21.21
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	10.95	9.32	8.93
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	10.95	9.32	8.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	0.00	-17	170	12	208	-11	-5.56	38
Invested Capital Turnover	0.00	-50.15	5.61	5.84	4.05	4.51	-61.86	33.92
Increase / (Decrease) in Invested Capital	0.00	-17	187	-158	196	-220	5.50	44
Enterprise Value (EV)	0.00	0.00	681	1,777	1,512	1,623	2,343	2,210
Market Capitalization	0.00	0.00	481	1,739	1,284	1,606	2,321	2,198
Book Value per Share	$0.00	$0.00	($0.69)	($0.14)	($0.11)	($0.15)	($0.15)	$0.14
Tangible Book Value per Share	$0.00	$0.00	($1.58)	($0.32)	($0.28)	($0.32)	($0.31)	($0.01)
Total Capital	0.00	449	368	335	294	273	342	556
Total Debt	0.00	449	335	391	388	385	432	428
Total Long-Term Debt	0.00	449	335	391	388	385	432	428
Net Debt	0.00	369	137	68	302	100	85	-89
Capital Expenditures (CapEx)	0.87	4.00	1.31	0.58	0.78	3.76	17	8.50
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-52	-61	-28	-14	-59	-72	-81
Debt-free Net Working Capital (DFNWC)	0.00	28	137	294	71	225	275	437
Net Working Capital (NWC)	0.00	28	137	294	71	225	275	437
Net Nonoperating Expense (NNE)	9.83	22	53	-41	-7.83	21	17	-20
Net Nonoperating Obligations (NNO)	0.00	-17	137	68	302	100	85	-89
Total Depreciation and Amortization (D&A)	12	12	11	8.09	9.14	-2.91	-3.38	-2.39
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-12.54%	-14.17%	-5.27%	-3.16%	-13.28%	-13.99%	-14.44%
Debt-free Net Working Capital to Revenue	0.00%	6.64%	31.91%	55.40%	15.91%	50.66%	53.57%	78.36%
Net Working Capital to Revenue	0.00%	6.64%	31.91%	55.40%	15.91%	50.66%	53.57%	78.36%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.49	$0.45	$0.30	$0.42	$0.87
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	43.77M	43.87M	43.20M	44.74M	51.96M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.28	$0.28	($0.28)	$0.03	$0.42
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	189.06M	188.57M	187.43M	190.59M	197.29M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	43.98M	185.85M	187.23M	189.15M	202.48M
Normalized Net Operating Profit after Tax (NOPAT)	74	82	-30	102	72	-8.29	54	122
Normalized NOPAT Margin	19.42%	19.65%	-7.02%	19.10%	16.05%	-1.86%	10.43%	21.94%
Pre Tax Income Margin	17.19%	14.97%	-18.30%	28.79%	19.95%	-4.83%	9.76%	27.79%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.82	3.13	-2.36	8.62	4.39	-0.40	2.43	7.09
NOPAT to Interest Expense	2.78	3.19	-1.29	5.06	3.07	-0.35	2.22	5.37
EBIT Less CapEx to Interest Expense	2.79	2.98	-2.41	8.59	4.35	-0.55	1.74	6.71
NOPAT Less CapEx to Interest Expense	2.74	3.03	-1.34	5.03	3.04	-0.51	1.53	5.00
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	206.46%	188.81%	-232.54%	122.24%	223.26%	-332.88%	288.91%	88.90%
Augmented Payout Ratio	206.46%	188.81%	-232.54%	123.76%	259.70%	-348.21%	288.91%	110.49%

This table displays calculated financial ratios and metrics derived from GCM Grosvenor's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.12%	-11.30%	16.76%	9.84%	8.68%	1.00%	41.79%	15.60%	2.31%	9.79%	7.16%
EBITDA Growth	-172.03%	1.37%	-103.93%	-58.47%	172.41%	-20.00%	5,820.43%	136.32%	95.99%	159.47%	85.38%
EBIT Growth	-174.50%	17.12%	-94.88%	-47.14%	178.33%	-20.30%	4,971.48%	142.16%	89.15%	153.13%	83.43%
NOPAT Growth	-235.28%	-16.28%	-17.90%	-23.85%	166.16%	-1.51%	291.72%	40.20%	16.08%	106.58%	36.44%
Net Income Growth	-218.16%	24.39%	-59.92%	-24.82%	135.75%	-31.15%	565.33%	94.23%	207.78%	271.63%	91.19%
EPS Growth	-276.92%	100.00%	-80.00%	-30.00%	117.39%	-25.00%	800.00%	84.62%	25.00%	433.33%	155.56%
Operating Cash Flow Growth	-43.46%	-39.88%	-52.86%	608.38%	-34.21%	58.30%	42.83%	37.43%	140.17%	15.69%	-25.25%
Free Cash Flow Firm Growth	-89.37%	-76.72%	223.71%	-156.89%	-99.60%	16.25%	-86.49%	70.27%	31,347.38%	-34.67%	-81.64%
Invested Capital Growth	-103.47%	-121.94%	-105.30%	51.73%	1,121.57%	-748.99%	49.71%	-15.01%	-30.46%	37.16%	791.21%
Revenue Q/Q Growth	8.57%	13.10%	-4.24%	-6.60%	7.43%	5.11%	34.43%	-23.85%	-4.92%	12.79%	31.21%
EBITDA Q/Q Growth	-262.99%	187.30%	-101.79%	-215.01%	265.87%	-3.55%	27.92%	-74.42%	483.33%	18.23%	43.58%
EBIT Q/Q Growth	-253.40%	193.44%	-98.00%	-197.54%	288.13%	-4.92%	27.27%	-72.62%	438.04%	18.01%	43.18%
NOPAT Q/Q Growth	-179.20%	179.79%	-53.75%	-220.20%	249.16%	18.77%	83.95%	-118.35%	389.51%	111.38%	21.49%
Net Income Q/Q Growth	-139.33%	148.61%	-74.05%	-513.54%	168.55%	-6.40%	150.75%	-103.58%	3,759.72%	13.01%	29.00%
EPS Q/Q Growth	-130.00%	117.39%	-75.00%	-1,400.00%	130.77%	-25.00%	200.00%	-122.22%	350.00%	220.00%	43.75%
Operating Cash Flow Q/Q Growth	658.01%	64.05%	-38.79%	-9.27%	-27.79%	294.74%	-44.78%	-12.69%	26.19%	90.14%	-64.32%
Free Cash Flow Firm Q/Q Growth	-42.76%	107.75%	480.64%	-108.24%	100.40%	60,066.28%	-32.53%	-118.13%	527.19%	24.99%	-81.04%
Invested Capital Q/Q Growth	90.04%	-134.89%	-218.31%	35.19%	310.81%	-295.21%	81.15%	-48.23%	227.47%	-276.41%	307.38%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-6.74%	37.22%	32.62%	8.47%	41.90%	40.36%	42.32%	34.65%	37.44%	51.03%	45.72%
EBITDA Margin	-27.37%	21.12%	-0.39%	-11.81%	18.24%	16.73%	15.92%	5.35%	32.82%	34.40%	37.64%
Operating Margin	-33.44%	19.64%	11.25%	-14.66%	17.81%	20.33%	26.39%	12.18%	16.08%	32.73%	30.89%
EBIT Margin	-26.50%	21.89%	0.46%	-10.91%	19.10%	17.28%	16.36%	5.88%	33.27%	34.81%	37.99%
Profit (Net Income) Margin	-33.69%	14.48%	3.92%	-17.37%	11.08%	9.87%	18.41%	-0.87%	33.34%	33.40%	32.84%
Tax Burden Percent	105.99%	84.07%	70.85%	106.24%	79.98%	79.18%	83.49%	-43.58%	100.51%	92.56%	90.80%
Interest Burden Percent	119.92%	78.65%	1,210.69%	149.88%	72.54%	72.14%	134.79%	33.80%	99.68%	103.66%	95.20%
Effective Tax Rate	0.00%	15.93%	29.15%	0.00%	20.02%	20.82%	16.51%	143.58%	-0.51%	7.44%	9.20%
Return on Invested Capital (ROIC)	-504.23%	1,143.91%	35.95%	0.00%	970.30%	0.00%	0.00%	0.00%	673.59%	0.00%	951.39%
ROIC Less NNEP Spread (ROIC-NNEP)	-516.06%	1,140.67%	33.61%	0.00%	966.74%	0.00%	0.00%	0.00%	702.95%	0.00%	548.97%
Return on Net Nonoperating Assets (RNNOA)	661.85%	-1,240.93%	-65.93%	0.00%	-1,034.45%	0.00%	0.00%	0.00%	-860.43%	0.00%	-62.40%
Return on Equity (ROE)	157.61%	-97.02%	-29.98%	31.55%	-64.16%	-10.41%	-36.32%	-57.12%	-186.84%	-209.30%	888.99%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	64.69%	0.00%	0.00%	0.00%	733.52%	0.00%	203.81%
Operating Return on Assets (OROA)	-24.54%	17.80%	0.41%	-10.23%	17.82%	14.89%	15.04%	5.80%	30.08%	30.13%	29.70%
Return on Assets (ROA)	-31.19%	11.77%	3.51%	-16.30%	10.34%	8.51%	16.93%	-0.85%	30.14%	28.91%	25.67%
Return on Common Equity (ROCE)	45.86%	-30.09%	-6.93%	7.89%	-17.57%	-2.85%	-9.96%	-16.40%	-66.65%	-75.25%	-15.05%
Return on Equity Simple (ROE_SIMPLE)	104.12%	90.50%	0.00%	124.90%	-57.01%	-33.74%	0.00%	-192.13%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-25	20	9.29	-11	17	20	36	-6.68	19	41	50
NOPAT Margin	-23.40%	16.51%	7.97%	-10.26%	14.25%	16.10%	22.03%	-5.31%	16.17%	30.29%	28.05%
Net Nonoperating Expense Percent (NNEP)	11.83%	3.24%	2.35%	8.28%	3.56%	8.82%	6.48%	-6.39%	-29.36%	-13.71%	402.41%
Return On Investment Capital (ROIC_SIMPLE)	-	-	3.40%	-	-	-	10.65%	-1.96%	4.72%	9.44%	8.94%
Cost of Revenue to Revenue	106.74%	62.78%	67.38%	91.53%	58.10%	59.64%	57.68%	65.35%	62.56%	48.97%	54.28%
SG&A Expenses to Revenue	26.69%	17.58%	21.36%	23.13%	24.08%	20.03%	15.94%	22.47%	21.35%	18.30%	14.83%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	26.69%	17.58%	21.36%	23.13%	24.08%	20.03%	15.94%	22.47%	21.35%	18.30%	14.83%
Earnings before Interest and Taxes (EBIT)	-29	27	0.53	-12	22	21	27	7.40	40	47	67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-29	26	-0.46	-13	21	21	26	6.73	39	46	67
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	81.44
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.00	3.21	3.61	3.93	3.96	4.59	4.51	4.71	4.21	4.31	3.94
Price to Earnings (P/E)	119.95	98.99	125.76	110.92	114.39	149.07	124.13	146.91	81.14	69.16	48.45
Dividend Yield	6.01%	5.95%	5.13%	4.61%	4.51%	3.89%	3.59%	3.33%	3.81%	3.65%	3.98%
Earnings Yield	0.83%	1.01%	0.80%	0.90%	0.87%	0.67%	0.81%	0.68%	1.23%	1.45%	2.06%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	124.63	0.00	0.00	0.00	215.86	0.00	57.49
Enterprise Value to Revenue (EV/Rev)	3.05	3.26	3.65	3.98	4.06	4.60	4.56	4.75	4.25	4.29	3.96
Enterprise Value to EBITDA (EV/EBITDA)	140.89	140.19	0.00	0.00	41.51	53.20	42.32	31.29	22.71	18.24	13.89
Enterprise Value to EBIT (EV/EBIT)	202.67	132.05	0.00	0.00	38.21	48.77	39.89	30.14	22.14	17.89	13.68
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	71.43	93.38	43.69	31.17	25.39	21.31	18.06
Enterprise Value to Operating Cash Flow (EV/OCF)	8.98	11.46	17.63	14.94	16.82	15.58	15.75	15.98	12.44	12.12	12.04
Enterprise Value to Free Cash Flow (EV/FCFF)	34.14	121.74	7.68	0.00	192.66	43.73	48.69	30.76	24.14	23.68	28.21
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-3.83	-4.11	-3.46	-3.81	-4.63	-3.83	-4.78	-4.81	-20.85	112.30	3.36
Long-Term Debt to Equity	-3.83	-4.11	-3.46	-3.81	-4.63	-3.83	-4.78	-4.81	-20.85	112.30	3.36
Financial Leverage	-1.28	-1.09	-1.96	-0.89	-1.07	-0.84	-0.92	-0.92	-1.22	-0.56	-0.11
Leverage Ratio	-6.57	-7.49	-4.84	-4.64	-5.11	-5.22	-5.54	-5.65	-10.33	-11.55	38.46
Compound Leverage Factor	-7.88	-5.89	-58.63	-6.95	-3.71	-3.77	-7.47	-1.91	-10.29	-11.97	36.61
Debt to Total Capital	135.36%	132.11%	140.67%	135.63%	127.55%	135.34%	126.44%	126.26%	105.04%	99.12%	77.08%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	135.36%	132.11%	140.67%	135.63%	127.55%	135.34%	126.44%	126.26%	105.04%	99.12%	77.08%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-26.67%	-23.64%	-30.57%	-26.31%	-19.17%	-25.37%	-18.36%	-17.97%	-2.04%	2.59%	18.07%
Common Equity to Total Capital	-8.69%	-8.47%	-10.10%	-9.32%	-8.38%	-9.97%	-8.08%	-8.30%	-3.00%	-1.71%	4.86%
Debt to EBITDA	40.13	38.66	-31.24	-70.85	9.56	10.76	7.81	5.35	4.31	3.34	2.69
Net Debt to EBITDA	10.33	9.05	-8.13	-17.29	2.40	2.08	1.53	1.01	0.31	-0.17	-0.56
Long-Term Debt to EBITDA	40.13	38.66	-31.24	-70.85	9.56	10.76	7.81	5.35	4.31	3.34	2.69
Debt to NOPAT	-86.76	-49.23	-46.40	-36.77	16.46	18.89	8.06	5.33	4.82	3.91	3.50
Net Debt to NOPAT	-22.33	-11.52	-12.08	-8.97	4.13	3.65	1.58	1.01	0.35	-0.20	-0.73
Long-Term Debt to NOPAT	-86.76	-49.23	-46.40	-36.77	16.46	18.89	8.06	5.33	4.82	3.91	3.50
Altman Z-Score	2.81	2.88	2.90	3.08	3.19	3.24	3.42	3.66	3.62	3.68	3.50
Noncontrolling Interest Sharing Ratio	70.91%	68.98%	76.88%	74.98%	72.61%	72.62%	72.59%	71.28%	64.33%	64.05%	101.69%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	6.62	4.43	4.10	4.01	4.20	3.56	4.26	3.93	4.37	4.85	5.59
Quick Ratio	6.62	4.43	4.10	4.01	4.20	3.56	4.26	3.93	4.37	4.85	5.59
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	19	39	229	-19	0.08	46	31	-5.61	24	30	5.68
Operating Cash Flow to CapEx	4,596.37%	8,131.16%	1,090.60%	576.97%	374.10%	1,022.71%	3,413.98%	2,843.08%	3,435.11%	5,156.14%	624.99%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-3.18	0.00	0.00	0.00	0.00	0.00	5.37	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	4.09	0.00	0.00	0.00	0.00	0.00	14.33	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	3.38	0.00	0.00	0.00	0.00	0.00	14.05	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.93	0.81	0.90	0.94	0.93	0.86	0.92	0.99	0.90	0.87	0.78
Accounts Receivable Turnover	0.00	0.00	33.33	0.00	43.25	46.68	39.14	49.29	46.07	48.92	40.87
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	91.78	84.50	74.18	52.43	44.10	35.68	34.20	29.17	26.39	23.73	21.21
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	10.95	0.00	8.44	7.82	9.32	7.41	7.92	7.46	8.93
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	10.95	0.00	8.44	7.82	9.32	7.41	7.92	7.46	8.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-1.48	-3.47	-11	-7.17	15	-29	-5.56	-8.24	11	-19	38
Invested Capital Turnover	21.54	69.28	4.51	-41.31	68.10	-28.23	-61.86	-68.92	41.67	-22.73	33.92
Increase / (Decrease) in Invested Capital	-44	-19	-220	7.68	17	-26	5.50	-1.08	-4.60	11	44
Enterprise Value (EV)	1,356	1,398	1,623	1,808	1,883	2,140	2,343	2,522	2,268	2,341	2,210
Market Capitalization	1,332	1,376	1,606	1,789	1,839	2,137	2,321	2,502	2,245	2,352	2,198
Book Value per Share	($0.13)	($0.13)	($0.15)	($0.14)	($0.15)	($0.17)	($0.15)	($0.15)	($0.06)	($0.04)	$0.14
Tangible Book Value per Share	($0.31)	($0.30)	($0.32)	($0.31)	($0.32)	($0.33)	($0.31)	($0.31)	($0.22)	($0.19)	($0.01)
Total Capital	285	292	273	283	340	320	342	341	410	433	556
Total Debt	386	385	385	384	434	433	432	431	430	429	428
Total Long-Term Debt	386	385	385	384	434	433	432	431	430	429	428
Net Debt	99	90	100	94	109	84	85	81	31	-22	-89
Capital Expenditures (CapEx)	0.58	0.54	2.45	4.20	4.67	6.75	1.12	1.17	1.22	1.55	4.56
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-33	-57	-59	-65	-70	-93	-72	-81	-81	-81	-81
Debt-free Net Working Capital (DFNWC)	254	238	225	226	255	257	275	269	318	370	437
Net Working Capital (NWC)	254	238	225	226	255	257	275	269	318	370	437
Net Nonoperating Expense (NNE)	11	2.48	4.72	7.74	3.70	7.66	5.99	-5.59	-21	-4.19	-8.48
Net Nonoperating Obligations (NNO)	99	90	100	94	109	84	85	81	31	-22	-89
Total Depreciation and Amortization (D&A)	-0.93	-0.94	-0.99	-0.98	-1.01	-0.67	-0.72	-0.67	-0.55	-0.56	-0.61
Debt-free, Cash-free Net Working Capital to Revenue	-7.42%	-13.30%	-13.28%	-14.23%	-15.17%	-19.93%	-13.99%	-15.19%	-15.11%	-14.89%	-14.44%
Debt-free Net Working Capital to Revenue	57.20%	55.64%	50.66%	49.61%	54.87%	55.15%	53.57%	50.67%	59.67%	67.87%	78.36%
Net Working Capital to Revenue	57.20%	55.64%	50.66%	49.61%	54.87%	55.15%	53.57%	50.67%	59.67%	67.87%	78.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.11	$0.14	$0.08	$0.05	$0.11	$0.09	$0.17	$0.01	$0.30	$0.20	$0.36
Adjusted Weighted Average Basic Shares Outstanding	43.71M	43.47M	43.20M	43.67M	44.93M	45.16M	44.74M	45.63M	51.07M	53.59M	51.96M
Adjusted Diluted Earnings per Share	($0.23)	$0.04	$0.01	($0.13)	$0.04	$0.03	$0.09	($0.02)	$0.05	$0.16	$0.23
Adjusted Weighted Average Diluted Shares Outstanding	187.94M	188.00M	187.43M	187.91M	190.18M	190.60M	190.59M	189.87M	196.34M	197.48M	197.29M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	186.08M	187.22M	187.23M	188.46M	188.81M	189.13M	189.15M	194.23M	194.89M	194.20M	202.48M
Normalized Net Operating Profit after Tax (NOPAT)	-25	20	9.29	-11	17	20	36	11	13	41	50
Normalized NOPAT Margin	-23.40%	16.51%	7.97%	-10.26%	14.25%	16.10%	22.03%	8.53%	11.26%	30.29%	28.05%
Pre Tax Income Margin	-31.78%	17.22%	5.54%	-16.35%	13.86%	12.46%	22.05%	1.99%	33.17%	36.09%	36.17%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	-2.00	0.00	0.00	0.00	0.00	0.00	8.44	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	-1.89	0.00	0.00	0.00	0.00	0.00	7.34	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	-2.71	0.00	0.00	0.00	0.00	0.00	8.16	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	-2.59	0.00	0.00	0.00	0.00	0.00	7.06	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-514.70%	-596.51%	-332.88%	-315.97%	577.14%	926.26%	288.91%	217.89%	160.71%	106.95%	88.90%
Augmented Payout Ratio	-585.99%	-642.91%	-348.21%	-319.44%	577.14%	926.26%	288.91%	217.89%	160.71%	106.95%	110.49%

Financials Breakdown Chart

Key Financial Trends

GCM Grosvenor (GCMG) has posted a series of quarterly results in 2025 showing improving revenue and cash generation, along with a balance sheet that has grown meaningfully in total assets while maintaining a heavy liability load. Below are the key takeaways drawn from the last four quarters (Q1–Q4 2025) and a look at relevant year-over-year context from 2024 to 2025.

Operating revenue rose through 2025, with Q4 2025 revenue at 177,095,000 vs. Q4 2024 at 165,261,000 (approx. +7%). Similarly, Q3 2025 revenue was 134,967,000 vs. 121,714,000 in Q3 2024 (approx. +11%).
Gross margin showed improvement, notably in Q3 2025 and Q4 2025. Q4 2025 gross profit was 80,960,000 on 177,095,000 revenue (about 45.6% gross margin), up from Q4 2024’s 69,440,000 on 165,261,000 (about 42.3%).
Operating cash flow: Q3 2025 delivered a strong cash generation signal (net cash from continuing operating activities around 79,817,000). Q4 2025 CFO was 28,481,000, supported by modest capital expenditures, suggesting ongoing cash generation capability.
Balance sheet growth: Total assets increased meaningfully in 2025 (e.g., about 686 million in Q3 2025 vs. roughly 498–543 million in 2024), indicating stronger asset base and potential liquidity runway. Long-term debt declined modestly in 2025, contributing to a modest improvement in leverage indicators.
Cash returns to shareholders: The company continued paying dividends each quarter (e.g., sizable dividends observed across 2025 quarters), reflecting ongoing capital return to shareholders.
Earnings and margin variability: Quarterly earnings and margins fluctuated (e.g., Q1 2025 showed a small negative net income, while subsequent quarters improved). This highlights earnings quality variability and potential sensitivity to non-operating items.
Restatements and equity signals: Several quarters in 2023–2024 show restatements and volatility in equity-related line items, which can complicate assessment of the company’s underlying profitability and capital structure on a per-quarter basis.
Profitability volatility: Despite improving quarter-to-quarter, there have been periods of negative or very small net income (e.g., Q1 2025 net income to common shareholders was modestly positive, but some earlier quarters showed declines), indicating earnings volatility.
Cash outflows for dividends: Substantial quarterly dividend payments reduce cash balance and may constrain cash available for growth initiatives or debt reduction in the near term.
Liability and leverage profile: Total liabilities remained elevated across 2024–2025, with long-term debt continuing at a high level. While debt trended modestly downward in parts of 2025, the liability base remains a risk factor to watch as the business grows.

05/05/26 08:24 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About GCM Grosvenor's Financials

When does GCM Grosvenor's financial year end?

According to the most recent income statement we have on file, GCM Grosvenor's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has GCM Grosvenor's net income changed over the last 7 years?

GCM Grosvenor's net income appears to be on an upward trend, with a most recent value of $142.04 million in 2025, rising from $63.69 million in 2018. The previous period was $36.60 million in 2024. Check out GCM Grosvenor's forecast to explore projected trends and price targets.

What is GCM Grosvenor's operating income?

GCM Grosvenor's total operating income in 2025 was $133.45 million, based on the following breakdown:

Total Gross Profit: $238.23 million
Total Operating Expenses: $104.78 million

How has GCM Grosvenor's revenue changed over the last 7 years?

Over the last 7 years, GCM Grosvenor's total revenue changed from $378.50 million in 2018 to $557.57 million in 2025, a change of 47.3%.

How much debt does GCM Grosvenor have?

GCM Grosvenor's total liabilities were at $686.33 million at the end of 2025, a 2.4% decrease from 2024, and a 16.9% increase since 2019.

How much cash does GCM Grosvenor have?

In the past 6 years, GCM Grosvenor's cash and equivalents has ranged from $44.35 million in 2023 to $242.12 million in 2025, and is currently $242.12 million as of their latest financial filing in 2025.

How has GCM Grosvenor's book value per share changed over the last 7 years?

Over the last 7 years, GCM Grosvenor's book value per share changed from 0.00 in 2018 to 0.14 in 2025, a change of 13.9%.

Related Companies

Financial statements for NASDAQ:GCMG last updated on 2/22/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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GCM Grosvenor (GCMG) Financials

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GCM Grosvenor (GCMG) Financials

Annual Income Statements for GCM Grosvenor

Quarterly Income Statements for GCM Grosvenor

Annual Cash Flow Statements for GCM Grosvenor

Quarterly Cash Flow Statements for GCM Grosvenor

Annual Balance Sheets for GCM Grosvenor

Quarterly Balance Sheets for GCM Grosvenor

Annual Metrics And Ratios for GCM Grosvenor

Quarterly Metrics And Ratios for GCM Grosvenor

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Key Financial Trends

Frequently Asked Questions About GCM Grosvenor's Financials

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