General American Investors Company, Inc. (GAM) Financial Ratios
13 years of historical data (2012–2024) · Financial Services · Asset Management
EV/EBITDA
↓
6.07
+1% vs avg
5yr avg: 6.02
30Y Low2.4·High12.1
P/FCF
N/A
—
5yr avg: N/A
P/B Ratio
↑
0.90
↑+69% vs avg
5yr avg: 0.53
30Y Low0.5·High0.8
ROE
↑
16.5%
↓+61% vs avg
5yr avg: 10.3%
30Y Low-13%·High25%
Debt/EBITDA
↓
0.01
↓-71% vs avg
5yr avg: 0.03
30Y Low0.0·High0.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
GAM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
General American Investors Company, Inc. trades at 5.9x earnings, 20% above its 5-year average of 4.9x, sitting at the 70th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a discount of 56%.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.5B | $1.1B | $656M | $578M | $743M | $650M | $932M | $852M | $885M | $667M | $904M |
| Enterprise Value | $1.5B | $1.1B | $659M | $581M | $751M | $654M | $942M | $854M | $885M | $667M | $900M |
| P/E Ratio → | 5.92 | 4.72 | 2.54 | — | 2.63 | 9.89 | 2.32 | — | 5.55 | 9.12 | — |
| P/S Ratio | 5.92 | 4.39 | 7.32 | — | 6.88 | 7.30 | 3.01 | — | 4.79 | 6.82 | 14.65 |
| P/B Ratio | 0.90 | 0.71 | 0.46 | 0.47 | 0.50 | 0.51 | 0.73 | 0.78 | 0.70 | 0.55 | 0.72 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
GAM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
General American Investors Company, Inc.'s enterprise value stands at 6.1x EBITDA, roughly in line with its 5-year average of 6.0x. The Financial Services sector median is 11.4x, placing the stock at a 47% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.40 | 7.35 | — | 6.95 | 7.35 | 3.04 | — | 4.79 | 6.82 | 14.59 |
| EV / EBITDA | 6.07 | 4.51 | 2.41 | 12.12 | 2.56 | 8.50 | 11.47 | 10.67 | 7.75 | 5.90 | — |
| EV / EBIT | 6.08 | — | 2.41 | — | 2.56 | 8.50 | 3.17 | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
GAM Profitability
Margins and return-on-capital ratios measuring operating efficiency
General American Investors Company, Inc. earns an operating margin of 97.5%, significantly above the Financial Services sector average of 20.3%. Operating margins have compressed from 107.6% to 97.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 16.5% indicates solid capital efficiency, compared to the sector median of 9.0%. ROIC of 12.4% represents solid returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 84.8% | 106.5% | 277.4% | 92.4% | 96.3% | 117.9% | 94.0% | 89.0% | 82.0% |
| Operating Margin | 97.5% | 97.5% | 304.9% | 107.6% | 272.0% | 86.4% | 95.8% | 121.3% | 92.5% | 86.4% | -46.1% |
| Net Profit Margin | 97.5% | 97.5% | 304.9% | 107.6% | 272.0% | 86.4% | 95.8% | 121.3% | 92.5% | 86.4% | -46.1% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.5% | 16.5% | 20.6% | -13.1% | 21.3% | 6.0% | 25.1% | -6.1% | 13.8% | 6.8% | -2.1% |
| ROA | 16.3% | 16.3% | 20.3% | -12.9% | 20.9% | 5.9% | 24.7% | -6.0% | 13.6% | 6.7% | -2.1% |
| ROIC | 12.4% | 12.4% | 15.4% | -9.8% | 15.9% | 4.5% | 18.8% | -4.6% | 10.4% | 5.1% | -1.6% |
| ROCE | 16.3% | 16.3% | 20.3% | -12.9% | 21.0% | 5.9% | 24.7% | -6.0% | 13.7% | 6.8% | -2.1% |
GAM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
General American Investors Company, Inc. carries a Debt/EBITDA ratio of 0.0x, which is very conservative (100% below the sector average of 4.3x). Net debt stands at $2M ($2M total debt minus $69600 cash).
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | — | — | — |
| Debt / EBITDA | 0.01 | 0.01 | 0.01 | 0.07 | 0.01 | 0.06 | 0.06 | 0.07 | — | — | — |
| Net Debt / Equity | — | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | -0.00 |
| Net Debt / EBITDA | 0.01 | 0.01 | 0.01 | 0.07 | 0.03 | 0.06 | 0.12 | 0.03 | 0.00 | 0.00 | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
GAM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
General American Investors Company, Inc.'s current ratio of 31.80x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 2.18x to 31.80x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 31.80 | 31.80 | 3.70 | 2.18 | -0.83 | 0.57 | 3.04 | 4.88 | 2.98 | 2.41 | 0.49 |
| Quick Ratio | 31.80 | 31.80 | 3.70 | 2.18 | -0.83 | 0.57 | 3.04 | 4.88 | 2.98 | 2.41 | 0.49 |
| Cash Ratio | 0.19 | 0.19 | 0.07 | 0.10 | -1.40 | — | -2.91 | 1.59 | — | — | 0.27 |
| Asset Turnover | — | 0.16 | 0.06 | -0.13 | 0.07 | 0.07 | 0.24 | -0.05 | 0.14 | 0.08 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
GAM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
General American Investors Company, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 16.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 16.9% | 21.2% | 39.4% | — | 38.0% | 10.1% | 43.2% | — | 18.0% | 11.0% | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $22M | $15M | $16M | $17M | $17M | $25M | $30M | $26M | $21M | $28M |
Peer Comparison
Compare GAM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 GAMYou | $1B | 5.9 | 6.1 | — | 100.0% | 97.5% | 16.5% | 12.4% | 0.0 |
 TRI | $34B | 23.1 | 12.3 | 16.7 | 75.8% | 26.6% | 12.6% | 11.2% | 0.7 |
 CET | $2B | 5.8 | 5.8 | 32.5 | 93.4% | 305.0% | 15.8% | 11.8% | 0.0 |
 SOR | $373M | 9.5 | 9.5 | — | 100.0% | 97.4% | 10.9% | 8.2% | — |
 BLK | $174B | 29.6 | 23.0 | 46.3 | 55.5% | 29.1% | 10.0% | 7.5% | 1.9 |
 IVZ | $13B | -17.6 | 16.8 | 8.7 | 43.2% | -10.9% | -2.0% | -2.3% | 8.2 |
 AMG | $9B | 15.5 | 12.2 | 9.4 | 86.0% | 31.8% | 15.8% | 8.1% | 2.8 |
 TROW | $23B | 11.6 | 8.0 | 15.8 | 62.7% | 29.9% | 17.8% | 13.3% | 0.3 |
 BEN | $17B | 36.3 | 23.7 | 18.8 | 80.3% | 6.9% | 3.7% | 1.6% | 11.7 |
 CSWC | $1B | 12.1 | 12.9 | — | 94.3% | 76.9% | 11.9% | 7.1% | 5.8 |
 GAIN | $589M | 3.1 | 5.1 | — | 19.4% | 315.8% | 31.7% | 15.5% | 2.5 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 13 years · Updated daily
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GAM — Frequently Asked Questions
Quick answers to the most common questions about buying GAM stock.
What is General American Investors Company, Inc.'s P/E ratio?
General American Investors Company, Inc.'s current P/E ratio is 5.9x. The historical average is 6.1x. This places it at the 70th percentile of its historical range.
What is General American Investors Company, Inc.'s EV/EBITDA?
General American Investors Company, Inc.'s current EV/EBITDA is 6.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.3x.
What is General American Investors Company, Inc.'s ROE?
General American Investors Company, Inc.'s return on equity (ROE) is 16.5%. The historical average is 10.0%.
Is GAM stock overvalued?
Based on historical data, General American Investors Company, Inc. is trading at a P/E of 5.9x. This is at the 70th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are General American Investors Company, Inc.'s profit margins?
General American Investors Company, Inc. has 100.0% gross margin and 97.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does General American Investors Company, Inc. have?
General American Investors Company, Inc.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.