General American Investors Company, Inc. (GAM) 10-Year Financial Performance & Capital Metrics

GAM • • Banking & Credit

Financial ServicesAsset ManagementTraditional Asset ManagementGlobal Diversified Asset Managers

AboutGeneral American Investors Company, Inc. is a publicly owned investment manager. The firm invests in the public equity markets of United States. It invests in growth stocks of companies. It makes investments in Information Technology, Financials, Consumer Staples, Consumer Discretionary, Retailing, Communication Services, Industrials, Health Care, Energy and Materials. The firm employs fundamental analysis with a bottom-up stock picking approach to make its investments. It conducts in-house research to make its investments. General American Investors Company, Inc. was founded in 1927 and is based in New York, New York.Show more

Net Interest Income $7M -21.0%
Total Revenue $252M +180.6%
Net Income $245M -10.2%
Return on Equity 16.53% -19.7%
Net Interest Margin 0.42% -27.0%
Efficiency Ratio 2.47% -91.0%
ROA 16.31% -19.5%
Equity / Assets 98.81% +0.3%
Book Value per Share 71.38 -23.4%
Tangible BV/Share 71.38 -23.4%
Debt/Equity 0.00 -25.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Efficient operations: 2.5% efficiency ratio
✓Well capitalized: 98.8% equity/assets
✓Diversified revenue: 97.4% from non-interest income
✓Trading at only 0.8x book value

✗Weaknesses

✗Weak NIM of 0.4%
✗Shares diluted 41.8% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y26.84%

5Y-4.08%

3Y-6.55%

TTM-

Profit (Net Income) CAGR

10Y12.96%

5Y-3.73%

3Y-5.8%

TTM-31.53%

EPS CAGR

10Y16.49%

5Y-7.87%

3Y-13.67%

TTM-52.19%

ROCE

10Y Avg8.77%

5Y Avg10.13%

3Y Avg7.9%

Latest16.33%

Peer Comparison

Global Diversified Asset Managers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SIISprott Inc.	2.97B	115.19	60.31	19.02%	29.28%	14.59%	2.27%
EMBJEmbraer S.A.	13.36B	73.93	38.51	21.38%	5.51%	10.43%	3.03%	0.78
BENFranklin Resources, Inc.	13.54B	25.97	28.54	3.45%	5.98%	3.61%	6.73%	0.94
BLKBlackRock, Inc.	179.4B	1156.65	27.53	14.27%	31.21%	9.86%	2.62%	0.29
IVZInvesco Ltd.	13.08B	29.39	24.91	6.13%	12.77%	6.75%	8.57%	0.48
SEICSEI Investments Company	10.6B	86.54	19.62	10.7%	27.35%	28.87%	5.34%	0.01
JHGJanus Henderson Group plc	7.15B	47.89	18.71	17.67%	16.53%	9.41%	9.57%	0.10
STTState Street Corporation	38.07B	136.29	16.60	19.64%	12.23%	10.78%		1.45

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	0	244.63K	1.34M	1.52M	2.46M	484.48K	11.71K	2.28M	8.4M	6.64M
NII Growth %	-	-	4.5%	0.13%	0.62%	-0.8%	-0.98%	194.04%	2.68%	-0.21%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	244.63K	1.34M	1.52M	2.46M	484.48K	11.71K	2.28M	8.4M	6.64M
Interest Expense	0	0	0	0	0	0	0	0	0	0
Loan Loss Provision	11.11M	10.75M	11.04M	10.6M	11.32M	10.33M	12.98M	10.72M	13.6M	0
Non-Interest Income+	61.68M	97.48M	183.18M	-60.62M	307.46M	88.56M	308.39M	-166.97M	81.27M	245.03M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	61.68M	97.72M	184.53M	-59.1M	309.92M	89.04M	308.4M	-164.69M	89.68M	251.67M
Revenue Growth %	1.64%	0.58%	0.89%	-1.32%	6.24%	-0.71%	2.46%	-1.53%	1.54%	1.81%
Non-Interest Expense	78.98M	13.3M	13.79M	12.6M	13.05M	5.3M	5.8M	5.46M	24.72M	6.22M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	-28.41M	84.42M	170.73M	-71.7M	296.88M	76.97M	293.61M	-177.27M	273.4M	245.46M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-3.92%	3.97%	1.02%	-1.42%	5.14%	-0.74%	2.81%	-1.6%	2.54%	-0.1%
Pretax Income+	-28.41M	84.42M	170.73M	-71.7M	296.88M	76.97M	293.61M	-177.27M	273.4M	245.46M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	0	0	0	-161.14K	0	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-28.41M	84.42M	170.73M	-71.7M	296.88M	76.97M	293.61M	-177.27M	273.4M	245.46M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-1.39%	3.97%	1.02%	-1.42%	5.14%	-0.74%	2.81%	-1.6%	2.54%	-0.1%
Net Income (Continuing)	-28.41M	84.42M	170.73M	-71.7M	296.88M	76.97M	293.61M	-177.27M	273.4M	245.46M
EPS (Diluted)+	-1.00	3.42	6.20	-2.39	16.29	3.76	16.80	-11.80	16.93	10.81
EPS Growth %	-1.43%	4.42%	0.81%	-1.39%	7.82%	-0.77%	3.47%	-1.7%	2.43%	-0.36%
EPS (Basic)	-1.00	3.42	6.20	-2.39	12.02	3.76	16.80	-11.80	16.93	10.11
Diluted Shares Outstanding	28.3M	21.38M	25.71M	29.97M	24.7M	17.48M	16.8M	15.98M	15.27M	21.66M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	0	0	1000K	-1000K	0	-1000K	182.25K	117.47K	69.6K
Cash & Due from Banks	3.85M	0	0	3.44M	-5.01M	0	-4.03M	182.25K	117.47K	69.6K
Short Term Investments	0	0	0	0	0	0	0	0	0	0
Total Investments+	1.27B	3.7M	2.95M	2.25M	1.28B	0	1.48B	1.23B	1.01M	945K
Investments Growth %	-0.11%	-1%	-0.2%	-0.24%	566.94%	-1%	-	-0.17%	-1%	-0.06%
Long-Term Investments	1.27B	3.7M	2.95M	2.25M	1.28B	0	1.48B	1.23B	1.01M	945K
Accounts Receivables	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
PP&E (Net)	0	0	0	0	5.01M	0	4.03M	3.52M	2.98M	2.4M
Other Assets	2M	1.22B	1.26B	1.1B	-5.01M	1.3B	-4.03M	-1.24B	1.43B	1.55B
Total Current Assets	6.96M	6.75M	9.85M	10.54M	5.24M	4.54M	-2.38M	4.01M	5.94M	11.76M
Total Non-Current Assets	1.27B	1.22B	1.27B	1.1B	1.28B	1.3B	1.48B	1.24B	1.44B	1.55B
Total Assets+	1.28B	1.23B	1.28B	1.11B	1.29B	1.31B	1.5B	1.25B	1.44B	1.56B
Asset Growth %	-0.11%	-0.04%	0.04%	-0.13%	0.17%	0.01%	0.15%	-0.16%	0.15%	0.08%
Return on Assets (ROA)	-0.02%	0.07%	0.14%	-0.06%	0.25%	0.06%	0.21%	-0.13%	0.2%	0.16%
Accounts Payable	5.36M	2.8M	3.31M	2.16M	1.72M	8.01M	2.87M	1.84M	1.6M	369.77K
Total Debt+	0	0	0	5.48M	5.01M	4.53M	4.03M	3.52M	2.98M	2.4M
Net Debt	-3.85M	0	0	2.04M	10.02M	4.53M	8.06M	3.34M	2.87M	2.33M
Long-Term Debt	0	0	0	5.48M	5.01M	4.53M	4.03M	3.52M	2.98M	2.4M
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	19.68M	12.56M	12.52M	13.72M	-14.4M	16.3M	-11.46M	-3.52M	16.73M	15.82M
Total Current Liabilities	14.17M	2.8M	3.31M	2.16M	1.72M	8.01M	2.87M	1.84M	1.6M	369.77K
Total Non-Current Liabilities	19.68M	12.56M	12.52M	19.2M	5.01M	20.82M	4.03M	1.84M	19.72M	18.22M
Total Liabilities	19.68M	15.37M	15.83M	21.36M	23.11M	28.83M	23.9M	211.3M	21.32M	18.59M
Total Equity+	1.26B	1.21B	1.26B	1.09B	1.28B	1.28B	1.48B	1.23B	1.42B	1.55B
Equity Growth %	-0.11%	-0.04%	0.04%	-0.14%	0.17%	0%	0.16%	-0.17%	0.16%	0.09%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	-0.02%	0.07%	0.14%	-0.06%	0.25%	0.06%	0.21%	-0.13%	0.21%	0.17%
Book Value per Share	44.46	56.73	49.03	36.27	51.70	73.14	87.90	77.08	93.17	71.38
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	28.3M	27.22M	26.45M	25.98M	24.75M	24.73M	24.39M	23.98M	23.73M	23.47M
Additional Paid-in Capital	511.04M	477.8M	451.84M	432.38M	391.03M	390.69M	376.07M	359.21M	347.92M	334.88M
Retained Earnings	-92.81K	-2.17M	-2.61M	442.39M	670.11M	675.94M	880.94M	657.57M	859.85M	992.86M
Accumulated OCI	528.79M	0	0	0	-4.41M	0	1.17M	175.04K	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	190.12M	190.12M	190.12M	190.12M	190.12M	190.12M	190.12M	190.12M	190.04M	190.04M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	0	0	0	0	0	0	0	0	0	0
Operating CF Growth %	-	-	-	-	-	-	-	-	-	-
Net Income	-28.41M	84.42M	170.73M	-71.7M	296.88M	76.97M	293.61M	-177.27M	273.4M	245.46M
Depreciation & Amortization	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	28.41M	-84.42M	-170.73M	71.7M	-296.88M	-76.97M	-293.61M	177.27M	-273.4M	-245.46M
Working Capital Changes	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	0	0	0	0	0	0	0	0	0	0
Purchase of Investments	0	0	0	0	0	0	0	0	0	0
Sale/Maturity of Investments	0	0	0	0	0	0	0	0	0	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	0	0	0	0	0	0	0	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	0	0	0	0	0	0	0	0
Other Financing	0	0	0	0	0	0	0	0	0	0
Net Change in Cash+	0	0	0	0	0	0	0	0	0	0
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	0	0	0	0	3.44M	0	0	0	0	0
Cash at End	0	0	0	0	3.44M	0	0	0	0	0
Interest Paid	0	0	0	0	0	0	0	0	0	0
Income Taxes Paid	0	0	0	0	0	0	0	0	0	0
Free Cash Flow+	0	0	0	0	0	0	0	0	0	0
FCF Growth %	-	-	-	-	-	-	-	-	-	-

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-2.12%	6.83%	13.81%	-6.11%	25.12%	6.03%	21.31%	-13.09%	20.6%	16.53%
Return on Assets (ROA)	-2.09%	6.74%	13.63%	-6.01%	24.71%	5.92%	20.94%	-12.9%	20.28%	16.31%
Net Interest Margin	0%	0.02%	0.11%	0.14%	0.19%	0.04%	0%	0.18%	0.58%	0.42%
Efficiency Ratio	128.06%	13.61%	7.47%	-21.33%	4.21%	5.95%	1.88%	-3.32%	27.57%	2.47%
Equity / Assets	98.46%	98.75%	98.76%	98.07%	98.6%	97.79%	98.67%	98.33%	98.52%	98.81%
Book Value / Share	44.46	56.73	49.03	36.27	51.7	73.14	87.9	77.08	93.17	71.38
NII Growth	-	-	449.79%	13.01%	61.85%	-80.31%	-97.58%	19404.3%	267.83%	-20.95%

Frequently Asked Questions

Valuation & Price

General American Investors Company, Inc. (GAM) has a price-to-earnings (P/E) ratio of 5.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

General American Investors Company, Inc. (GAM) grew revenue by 180.6% over the past year. This is strong growth.

Yes, General American Investors Company, Inc. (GAM) is profitable, generating $201.8M in net income for fiscal year 2024 (97.5% net margin).

Dividend & Returns

General American Investors Company, Inc. (GAM) has a return on equity (ROE) of 16.5%. This is reasonable for most industries.

Industry Metrics

General American Investors Company, Inc. (GAM) has a net interest margin (NIM) of 0.4%. NIM has been under pressure due to interest rate environment.

General American Investors Company, Inc. (GAM) has an efficiency ratio of 2.5%. This is excellent, indicating strong cost control.

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