The firm's capital structure remains strained with $414.5 million in total debt and a history of negative equity, which only recently shifted to a marginal $25.5 million in 2026Q1.
| Cash & Short Term Investments | 725.59M | 242.12M | 89.45M | 44.35M | 85.16M | 96.19M | 198.15M | 79.87M | 68.1M |
| Cash & Due from Banks | 164.39M | 242.12M | 89.45M | 44.35M | 85.16M | 96.19M | 198.15M | 79.87M | 68.1M |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 282.68M | 275.31M | 257.81M | 240.2M | 223.97M | 226.34M | 166.27M | 159.36M | 172.93M |
| Investments Growth % | 29.37% | 6.79% | 7.33% | 7.25% | -1.05% | 36.13% | 4.34% | -7.85% | - |
| Long-Term Investments | 1.09B | 275.31M | 257.81M | 240.2M | 223.97M | 226.34M | 166.27M | 159.36M | 172.93M |
| Accounts Receivables | 57.72M | 97.8M | 86.73M | 52.37M | 35.2M | 113.29M | 83.95M | 34.67M | 32.52M |
| Goodwill & Intangibles | 57.92M | 28.96M | 30.27M | 31.59M | 32.9M | 35.22M | 37.55M | 45.05M | 52.85M |
| Goodwill | 28.96M | 0 | 28.96M | 28.96M | 28.96M | 28.96M | 28.96M | 28.96M | 28.96M |
| Intangible Assets | 28.96M | 28.96M | 1.31M | 2.63M | 3.94M | 6.26M | 8.59M | 16.09M | 23.89M |
| PP&E (Net) | 71.82M | 69.9M | 63.83M | 45.93M | 17.1M | 5.41M | 7.87M | 8.87M | 7.44M |
| Other Assets | -282.68M | 28.36M | 20.79M | 18.62M | 21.16M | 24.86M | 53.02M | 34.99M | 31M |
| Total Current Assets | 164.39M | 354.52M | 188.87M | 110.3M | 133.48M | 221.26M | 293.42M | 124.76M | 107.38M |
| Total Non-Current Assets | 157.1M | 459.24M | 423.86M | 394.64M | 355.45M | 360.37M | 338.86M | 248.4M | 264.22M |
| Total Assets | 688.77M | 813.76M | 612.73M | 504.94M | 488.93M | 581.62M | 632.28M | 373.16M | 371.6M |
| Asset Growth % | 87.97% | 32.81% | 21.35% | 3.27% | -15.94% | -8.01% | 69.44% | 0.42% | - |
| Return on Assets (ROA) | 7.13% | 6.36% | 3.35% | 2.57% | 3.7% | 3.54% | 0.81% | - | - |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 414.47M | 480.23M | 485.92M | 426.21M | 403.15M | 390.52M | 335.15M | 448.5M | 432.23M |
| Net Debt | 250.07M | 238.11M | 396.46M | 381.85M | 317.98M | 294.33M | 137.01M | 368.63M | 364.13M |
| Long-Term Debt | 359.65M | 428.44M | 432.04M | 384.73M | 387.63M | 390.52M | 335.15M | 423.5M | 432.23M |
| Short-Term Debt | 3.29M | 0 | 0 | 0 | 0 | 0 | 0 | 25M | 0 |
| Other Liabilities | 152.03M | 54.64M | 155.63M | 127.08M | 115.2M | 177.55M | 190.52M | 121.62M | 44.15M |
| Total Current Liabilities | 3.29M | 151.47M | 61.53M | 62.89M | 64.59M | 69.36M | 73.67M | 41.87M | 96.31M |
| Total Non-Current Liabilities | 563.21M | 534.87M | 641.54M | 553.29M | 518.35M | 568.07M | 525.67M | 545.12M | 476.39M |
| Total Liabilities | 566.5M | 686.33M | 703.07M | 616.17M | 582.94M | 637.42M | 599.35M | 586.99M | 572.7M |
| Total Equity | 122.28M | 127.43M | -90.34M | -111.23M | -94.01M | -55.8M | 32.93M | -213.83M | -201.11M |
| Equity Growth % | 658.78% | 241.06% | 18.78% | -18.32% | -68.47% | -269.45% | 115.4% | -6.33% | - |
| Equity / Assets (Capital Ratio) | 17.75% | 15.66% | -14.74% | -22.03% | -19.23% | -9.59% | 5.21% | -57.3% | -54.12% |
| Return on Equity (ROE) | 86.52% | 244.63% | - | - | - | - | 12.3% | - | - |
| Book Value per Share | 0.60 | 0.65 | -0.47 | -0.59 | -0.50 | -1.27 | 0.82 | -5.36 | -5.04 |
| Tangible BV per Share | 0.31 | 0.50 | -0.63 | -0.76 | -0.67 | -2.08 | -0.12 | -6.49 | -6.36 |
| Common Stock | 20K | 14K | 18K | 18K | 18K | 18K | 18K | 0 | 0 |
| Additional Paid-in Capital | 45.56M | 44M | 5.75M | 1.94M | 0 | 1.5M | 2.71M | 0 | 0 |
| Retained Earnings | -19.44M | -16.26M | -35.04M | -32.22M | -23.93M | -26.22M | -29.83M | -308.44M | -73K |
| Accumulated OCI | -651K | -770K | 1.65M | 2.63M | 4.1M | -1.01M | -2.23M | -6.85M | -586K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Negative equity and leverage
According to reported financial statements, GCMG has maintained a negative equity position for nine of the last ten quarters, with the most recent 2026Q1 figure of $25.5 million representing a rare, albeit fragile, return to positive territory after a prolonged period of balance sheet erosion.
The firm's historical inability to sustain positive shareholder equity suggests a structural challenge in retaining earnings, likely exacerbated by the accounting treatment of its post-SPAC capital structure. Investors should monitor whether this recent shift into positive equity is a durable trend or merely a temporary fluctuation driven by non-operating adjustments.
Based on GCMG's reported figures, total debt has remained consistently high, hovering near $414.5 million as of 2026Q1, which, when coupled with the firm's historically thin or negative equity base, creates a D/E ratio that has reached extreme levels in recent periods.
The reliance on significant debt financing appears to be a necessity for maintaining the firm's operational scale rather than a strategic choice to optimize capital structure. This high leverage profile warrants further investigation into the firm's debt covenants and the potential for refinancing risks should market conditions for alternative asset managers tighten.
As reported in recent SEC filings, GCMG's cash reserves have fluctuated significantly, peaking at $242.1 million in 2025Q4 before receding to $164.4 million in 2026Q1, highlighting the firm's sensitivity to the timing of capital distributions and the inherent lumpiness of its cash-generating activities.
While the current ratio of 50.04 in 2026Q1 appears superficially strong, it may be distorted by the specific composition of current assets and liabilities rather than a true surplus of liquid capital. The firm's liquidity buffer appears susceptible to sudden shifts, necessitating a cautious view on its ability to absorb unexpected operational shocks.
Based on the provided data, GCMG's retained earnings have remained consistently negative, reaching -$19.4 million in 2026Q1, which indicates that the firm has struggled to generate and retain sufficient organic capital to offset its historical losses and ongoing capital allocation decisions.
The persistent deficit in retained earnings suggests that the firm's business model may be struggling to achieve the scale necessary to overcome its high fixed-cost base. This trend implies that shareholder value is being pressured by the combination of operational inefficiencies and the potential dilution associated with equity-based compensation.
Quick answers to the most common questions about buying GCMG stock.
As of 2025, GCM Grosvenor Inc. (GCMG) had total assets of $813.8M including $354.5M in current assets.
GCM Grosvenor Inc. (GCMG) carries total debt of $480.2M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
GCM Grosvenor Inc. (GCMG) has total shareholders' equity (book value) of $27.0M ($0.65 book value per share). Book value represents the net worth of the company belonging to common stock holders.
GCM Grosvenor Inc. (GCMG) reported a current ratio of 2.34x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.