General American Investors Company, Inc.(GAM)Earnings, Financials & Key Ratios
GAM•NYSE•Banking & Credit
$64.17
$1.49B mkt cap·5.9× P/E·Price updated May 6, 2026
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 Equity16.53%-19.7%
- Net Interest Margin0.42%-27.0%
- Efficiency Ratio2.47%-91.0%
- ROA16.31%-19.5%
- Equity / Assets98.81%+0.3%
- Book Value per Share71.38-23.4%
- Tangible BV/Share71.38-23.4%
- Debt/Equity0.00-25.9%
GAM Key Insights
General American Investors Company, Inc. (GAM) fundamental analysis — strengths, weaknesses & financial health based on 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 near 52-week high
- ✓Trading at only 0.9x book value
✗Weaknesses
- ✗Weak NIM of 0.4%
- ✗Shares diluted 41.8% in last year
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
GAM Price & Volume
General American Investors Company, Inc. (GAM) stock price & volume — 10-year historical chart
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GAM Growth Metrics
General American Investors Company, Inc. (GAM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years26.84%
5 Years-4.08%
3 Years-6.55%
TTM-
Profit CAGR
10 Years12.96%
5 Years-3.73%
3 Years-5.8%
TTM-31.53%
EPS CAGR
10 Years16.49%
5 Years-7.87%
3 Years-13.67%
TTM-52.19%
Return on Capital
10 Years8.77%
5 Years10.13%
3 Years7.9%
Last Year16.33%
GAM Recent Earnings
General American Investors Company, Inc. (GAM) EPS & revenue vs analyst estimates — last 4 quarters
Q3 2025Latest
Aug 8, 2025EPS
$3.23
Revenue
$6M
Q3 2024
Aug 5, 2024EPS
$3.06
Revenue
$7M
Q2 2024
May 3, 2024EPS
$8.08
Revenue
$42M
Q1 2024
Feb 16, 2024EPS
$7.98
Revenue
$11M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q3 2025Latest | Aug 8, 2025 | $3.23 | $6M |
| Q3 2024 | Aug 5, 2024 | $3.06 | $7M |
| Q2 2024 | May 3, 2024 | $8.08 | $42M |
| Q1 2024 | Feb 16, 2024 | $7.98 | $11M |
Based on last 12 quarters of dataView full earnings history →
GAM Peer Comparison
General American Investors Company, Inc. (GAM) competitors in Closed-end funds and investment trusts — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 TRI | 41.61B | 95.41 | 28.06 | 4.81% | 20.08% | 12.4% | 4.93% | 0.18 |
 CET | 1.55B | 53.58 | 5.28 | 416.32% | 97.22% | 30.43% | 2.41% | 0.00 |
 SOR | 382.85M | 46.54 | 9.74 | 31.26% | 97.36% | 21.13% | ||
 BLK | 162.7B | 1048.84 | 24.97 | 14.27% | 31.21% | 9.86% | 2.89% | 0.29 |
 IVZ | 11.92B | 26.83 | -16.77 | 5.11% | -4.42% | -1.74% | 12.09% | 0.78 |
 AMG | 8.1B | 303.64 | 13.35 | 19.83% | 29.3% | 16.01% | 12.4% | 0.61 |
 TROW | 22.65B | 104.11 | 11.26 | 3.12% | 28.53% | 17.56% | 6.53% | 0.07 |
 BEN | 15.83B | 30.46 | 33.47 | 3.45% | 5.98% | 5.64% | 5.76% | 0.94 |
Compare GAM vs Peers
General American Investors Company, Inc. (GAM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
GAM Income Statement
General American Investors Company, Inc. (GAM) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 244.63K | 1.34M | 1.52M | 2.46M | 484.48K | 11.71K | 2.28M | 8.4M | 6.64M | 0 |
| NII Growth % | - | 449.79% | 13.01% | 61.85% | -80.31% | -97.58% | 19404.3% | 267.83% | -20.95% | 0% |
| Net Interest Margin % | 0.02% | 0.11% | 0.14% | 0.19% | 0.04% | 0% | 0.18% | 0.58% | 0.42% | 0% |
| Interest Income | 244.63K | 1.34M | 1.52M | 2.46M | 484.48K | 11.71K | 2.28M | 8.4M | 6.64M | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Loan Loss Provision | 10.75M | 11.04M | 10.6M | 11.32M | 10.33M | 12.98M | 10.72M | 13.6M | 0 | 0 |
| Non-Interest Income | 97.48M | 183.18M | -60.62M | 307.46M | 88.56M | 308.39M | -166.97M | 81.27M | 245.03M | 27.65M |
| Non-Interest Income % | 99.75% | 99.27% | 102.57% | 99.21% | 99.46% | 100% | 101.39% | 90.63% | 97.36% | 100% |
| Total Revenue | 97.72M▲ 0% | 184.53M▲ 88.8% | -59.1M▼ 132.0% | 309.92M▲ 624.4% | 89.04M▼ 71.3% | 308.4M▲ 246.4% | -164.69M▼ 153.4% | 89.68M▲ 154.5% | 251.67M▲ 180.6% | 27.65M▲ 0% |
| Revenue Growth % | 58.44% | 88.83% | -132.03% | 624.4% | -71.27% | 246.35% | -153.4% | 154.45% | 180.65% | -206.39% |
| Non-Interest Expense | 13.3M | 13.79M | 12.6M | 13.05M | 5.3M | 5.8M | 5.46M | 24.72M | 6.22M | 21.75M |
| Efficiency Ratio | 13.61% | 7.47% | -21.33% | 4.21% | 5.95% | 1.88% | -3.32% | 27.57% | 2.47% | 78.66% |
| Operating Income | 84.42M▲ 0% | 170.73M▲ 102.2% | -71.7M▼ 142.0% | 296.88M▲ 514.0% | 76.97M▼ 74.1% | 293.61M▲ 281.5% | -177.27M▼ 160.4% | 273.4M▲ 254.2% | 245.46M▼ 10.2% | 5.9M▲ 0% |
| Operating Margin % | 86.39% | 92.53% | 121.33% | 95.79% | 86.44% | 95.2% | 107.64% | 304.87% | 97.53% | 21.34% |
| Operating Income Growth % | 397.15% | 102.24% | -142% | 514.03% | -74.07% | 281.45% | -160.38% | 254.22% | -10.22% | - |
| Pretax Income | 84.42M▲ 0% | 170.73M▲ 102.2% | -71.7M▼ 142.0% | 296.88M▲ 514.0% | 76.97M▼ 74.1% | 293.61M▲ 281.5% | -177.27M▼ 160.4% | 273.4M▲ 254.2% | 245.46M▼ 10.2% | 201.81M▲ 0% |
| Pretax Margin % | 86.39% | 92.53% | 121.33% | 95.79% | 86.44% | 95.2% | 107.64% | 304.88% | 97.53% | 729.98% |
| Income Tax | 0 | 0 | -161.14K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0.22% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | 84.42M▲ 0% | 170.73M▲ 102.2% | -71.7M▼ 142.0% | 296.88M▲ 514.0% | 76.97M▼ 74.1% | 293.61M▲ 281.5% | -177.27M▼ 160.4% | 273.4M▲ 254.2% | 245.46M▼ 10.2% | 201.81M▲ 0% |
| Net Margin % | 86.39% | 92.53% | 121.33% | 95.79% | 86.44% | 95.2% | 107.64% | 304.88% | 97.53% | 729.98% |
| Net Income Growth % | 397.15% | 102.24% | -142% | 514.03% | -74.07% | 281.45% | -160.38% | 254.23% | -10.22% | -31.53% |
| Net Income (Continuing) | 84.42M | 170.73M | -71.7M | 296.88M | 76.97M | 293.61M | -177.27M | 273.4M | 245.46M | 201.81M |
| EPS (Diluted) | 3.42▲ 0% | 6.20▲ 81.3% | -2.39▼ 138.5% | 16.29▲ 781.6% | 3.76▼ 76.9% | 16.80▲ 346.8% | -11.80▼ 170.2% | 16.93▲ 243.5% | 10.81▼ 36.1% | 8.67▲ 0% |
| EPS Growth % | 442% | 81.29% | -138.55% | 781.59% | -76.92% | 346.81% | -170.24% | 243.47% | -36.15% | -52.19% |
| EPS (Basic) | 3.42 | 6.20 | -2.39 | 12.02 | 3.76 | 16.80 | -11.80 | 16.93 | 10.11 | - |
| Diluted Shares Outstanding | 21.38M | 25.71M | 29.97M | 24.7M | 17.48M | 16.8M | 15.98M | 15.27M | 21.66M | 23.28M |
GAM Balance Sheet
General American Investors Company, Inc. (GAM) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 0 | 0 | 3.44M | -5.01M | 0 | -4.03M | 182.25K | 117.47K | 69.6K | 2.13M |
| Cash & Due from Banks | 0 | 0 | 3.44M | -5.01M | 0 | -4.03M | 182.25K | 117.47K | 69.6K | 0 |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 3.7M | 2.95M | 2.25M | 1.28B | 0 | 1.48B | 1.23B | 1.01M | 945K | 1.05M |
| Investments Growth % | -99.71% | -20.24% | -23.79% | 56694.19% | -100% | - | -16.51% | -99.92% | -6.36% | -85.27% |
| Long-Term Investments | 3.7M | 2.95M | 2.25M | 1.28B | 0 | 1.48B | 1.23B | 1.01M | 945K | 3.21B |
| Accounts Receivables | 6.15M | 8.8M | 5.1M | 0 | 1.13M | 1.65M | 3.83M | 5.82M | 11.69M | 1.67M |
| Goodwill & Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 | 5.01M | 0 | 4.03M | 3.52M | 2.98M | 2.4M | 0 |
| Other Assets | 1.22B | 1.26B | 1.1B | -5.01M | 1.3B | -4.03M | -1.24B | 1.43B | 1.55B | 1.69B |
| Total Current Assets | 6.75M | 9.85M | 10.54M | 5.24M | 4.54M | -2.38M | 4.01M | 5.94M | 11.76M | 1.67M |
| Total Non-Current Assets | 1.22B | 1.27B | 1.1B | 1.28B | 1.3B | 1.48B | 1.24B | 1.44B | 1.55B | 1.69B |
| Total Assets | 1.23B▲ 0% | 1.28B▲ 3.9% | 1.11B▼ 13.2% | 1.29B▲ 16.8% | 1.31B▲ 0.9% | 1.5B▲ 14.5% | 1.25B▼ 16.3% | 1.44B▲ 15.3% | 1.56B▲ 8.3% | 1.69B▲ 0% |
| Asset Growth % | -3.9% | 3.94% | -13.17% | 16.84% | 0.93% | 14.53% | -16.32% | 15.32% | 8.32% | 35.3% |
| Return on Assets (ROA) | 6.74% | 13.63% | -6.01% | 24.71% | 5.92% | 20.94% | -12.9% | 20.28% | 16.31% | 11.92% |
| Accounts Payable | 2.8M | 3.31M | 2.16M | 1.72M | 8.01M | 2.87M | 1.84M | 1.6M | 369.77K | 274.91K |
| Total Debt | 0 | 0 | 5.48M | 5.01M | 4.53M | 4.03M | 3.52M | 2.98M | 2.4M | 2.1M |
| Net Debt | 0 | 0 | 2.04M | 10.02M | 4.53M | 8.06M | 3.34M | 2.87M | 2.33M | 2.1M |
| Long-Term Debt | 0 | 0 | 5.48M | 5.01M | 4.53M | 4.03M | 3.52M | 2.98M | 2.4M | 2.1M |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 12.56M | 12.52M | 13.72M | -14.4M | 16.3M | -11.46M | -3.52M | 16.73M | 15.82M | 15.35M |
| Total Current Liabilities | 2.8M | 3.31M | 2.16M | 1.72M | 8.01M | 2.87M | 1.84M | 1.6M | 369.77K | 274.91K |
| Total Non-Current Liabilities | 12.56M | 12.52M | 19.2M | 5.01M | 20.82M | 4.03M | 1.84M | 19.72M | 18.22M | 17.46M |
| Total Liabilities | 15.37M | 15.83M | 21.36M | 23.11M | 28.83M | 23.9M | 211.3M | 21.32M | 18.59M | 17.73M |
| Total Equity | 1.21B▲ 0% | 1.26B▲ 4.0% | 1.09B▼ 13.8% | 1.28B▲ 17.5% | 1.28B▲ 0.1% | 1.48B▲ 15.6% | 1.23B▼ 16.6% | 1.42B▲ 15.6% | 1.55B▲ 8.6% | 1.68B▲ 0% |
| Equity Growth % | -3.62% | 3.95% | -13.78% | 17.47% | 0.1% | 15.56% | -16.62% | 15.56% | 8.64% | 37.07% |
| Equity / Assets (Capital Ratio) | 98.75% | 98.76% | 98.07% | 98.6% | 97.79% | 98.67% | 98.33% | 98.52% | 98.81% | 98.95% |
| Return on Equity (ROE) | 6.83% | 13.81% | -6.11% | 25.12% | 6.03% | 21.31% | -13.09% | 20.6% | 16.53% | 12.05% |
| Book Value per Share | 56.73 | 49.03 | 36.27 | 51.70 | 73.14 | 87.90 | 77.08 | 93.17 | 71.38 | 71.96 |
| Tangible BV per Share | 56.73 | 49.03 | 36.27 | 51.70 | 73.14 | 87.90 | 77.08 | 93.17 | 71.38 | 71.96 |
| Common Stock | 27.22M | 26.45M | 25.98M | 24.75M | 24.73M | 24.39M | 23.98M | 23.73M | 23.47M | 23.28M |
| Additional Paid-in Capital | 477.8M | 451.84M | 432.38M | 391.03M | 390.69M | 376.07M | 359.21M | 347.92M | 334.88M | 325.29M |
| Retained Earnings | -2.17M | -2.61M | 442.39M | 670.11M | 675.94M | 880.94M | 657.57M | 859.85M | 992.86M | 1.13B |
| Accumulated OCI | 0 | 0 | 0 | -4.41M | 0 | 1.17M | 175.04K | 0 | 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 | 190.04M | 190.04M | 190.04M |
GAM Cash Flow Statement
General American Investors Company, Inc. (GAM) cash flow — operating, investing & free cash flow history
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating CF Growth % | - | - | - | - | - | - | - | - | - | 0% |
| Net Income | 84.42M | 170.73M | -71.7M | 296.88M | 76.97M | 293.61M | -177.27M | 273.4M | 245.46M | 201.81M |
| 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 | -84.42M | -170.73M | 71.7M | -296.88M | -76.97M | -293.61M | 177.27M | -273.4M | -245.46M | -201.81M |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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% | 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 | 3.44M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at End | 0 | 0 | 0 | 3.44M | 0 | 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% | 0▲ 0% | 0▲ 0% | 0▲ 0% | 0▲ 0% | 0▲ 0% |
| FCF Growth % | - | - | - | - | - | - | - | - | - | - |
GAM Banking Ratios
General American Investors Company, Inc. (GAM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 6.83% | 13.81% | -6.11% | 25.12% | 6.03% | 21.31% | -13.09% | 20.6% | 16.53% | 12.05% |
| Return on Assets (ROA) | 6.74% | 13.63% | -6.01% | 24.71% | 5.92% | 20.94% | -12.9% | 20.28% | 16.31% | 11.92% |
| Net Interest Margin | 0.02% | 0.11% | 0.14% | 0.19% | 0.04% | 0% | 0.18% | 0.58% | 0.42% | 0% |
| Efficiency Ratio | 13.61% | 7.47% | -21.33% | 4.21% | 5.95% | 1.88% | -3.32% | 27.57% | 2.47% | 78.66% |
| Equity / Assets | 98.75% | 98.76% | 98.07% | 98.6% | 97.79% | 98.67% | 98.33% | 98.52% | 98.81% | 98.95% |
| Book Value / Share | 56.73 | 49.03 | 36.27 | 51.7 | 73.14 | 87.9 | 77.08 | 93.17 | 71.38 | 71.96 |
| NII Growth | - | 449.79% | 13.01% | 61.85% | -80.31% | -97.58% | 19404.3% | 267.83% | -20.95% | - |
| Dividend Payout | - | - | - | - | - | - | - | - | - | 0% |
GAM Frequently Asked Questions
General American Investors Company, Inc. (GAM) stock FAQ — growth, dividends, profitability & financials explained
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.
Explore More GAM
General American Investors Company, Inc. (GAM) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates