Latest Ratios: P/E Ratio 31.8x · EV/EBITDA 17.7x · ROE 244.6%. (2018–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.5B | $2.2B | $2.3B | $1.7B | $1.4B | $460M | $533M | $409M | — |
| Enterprise Value | $2.7B | $2.5B | $2.7B | $2.1B | $1.8B | $754M | $670M | $778M | — |
| P/E Ratio → | 31.81 | 26.95 | 357.73 | — | 27.18 | 21.43 | 74.00 | 6.83 | — |
| P/S Ratio | 4.41 | 3.95 | 4.47 | 3.72 | 3.17 | 0.80 | 1.23 | 0.98 | — |
| P/B Ratio | 20.68 | 17.53 | — | — | — | — | 16.17 | — | — |
| P/FCF | 14.26 | 12.76 | 17.71 | 19.02 | 6.65 | 2.58 | 7.97 | 4.44 | — |
| P/OCF | 13.60 | 12.17 | 15.72 | 18.24 | 6.63 | 2.57 | 7.81 | 4.25 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.37 | 5.22 | 4.56 | 3.87 | 1.31 | 1.55 | 1.87 | — |
| EV / EBITDA | 17.74 | 16.04 | 35.61 | — | 20.83 | 6.65 | — | 8.16 | — |
| EV / EBIT | 18.27 | 13.91 | 36.80 | 923.92 | 15.59 | 4.35 | — | 8.84 | — |
| EV / FCF | — | 14.12 | 20.71 | 23.34 | 8.13 | 4.23 | 10.01 | 8.44 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 45.0% | 21.2% | 38.7% | 42.2% | 10.3% | 41.7% | 46.0% |
| Operating Margin | 26.5% | 26.5% | 14.0% | -2.6% | 17.7% | 18.9% | -10.0% | 20.4% | 19.3% |
| Net Profit Margin | 8.0% | 8.0% | 3.6% | 2.8% | 4.4% | 3.7% | 0.9% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 244.6% | 244.6% | — | — | — | — | 12.3% | — | — |
| ROA | 6.4% | 6.4% | 3.3% | 2.6% | 3.7% | 3.5% | 0.8% | — | — |
| ROIC | 22.4% | 22.4% | 15.5% | -2.8% | 18.7% | 23.4% | -10.7% | 27.4% | 24.4% |
| ROCE | 24.7% | 24.7% | 14.8% | -2.7% | 17.1% | 20.4% | -9.7% | 28.0% | 27.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.77 | 3.77 | — | — | — | — | 10.18 | — | — |
| Debt / EBITDA | 3.12 | 3.12 | 6.33 | — | 4.79 | 3.44 | — | 4.71 | 4.98 |
| Net Debt / Equity | — | 1.87 | — | — | — | — | 4.16 | — | — |
| Net Debt / EBITDA | 1.54 | 1.54 | 5.16 | — | 3.78 | 2.59 | — | 3.87 | 4.20 |
| Debt / FCF | — | 1.36 | 3.00 | 4.32 | 1.47 | 1.65 | 2.05 | 4.00 | 3.13 |
| Interest Coverage | 7.80 | 7.80 | — | 0.09 | 4.82 | 8.62 | — | 3.43 | 3.46 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.34 | 2.34 | 3.07 | 1.75 | 2.07 | 3.19 | 3.98 | 2.98 | 1.11 |
| Quick Ratio | 2.34 | 2.34 | 3.07 | 1.75 | 2.07 | 3.19 | 3.98 | 2.98 | 1.11 |
| Cash Ratio | 1.60 | 1.60 | 1.45 | 0.71 | 1.32 | 1.39 | 2.69 | 1.91 | 0.71 |
| Asset Turnover | — | 0.69 | 0.85 | 0.90 | 0.93 | 0.99 | 0.69 | 1.12 | 1.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.0% | — | — | — | — | — | — | — | — |
| Payout Ratio | 55.9% | 55.9% | 109.9% | 159.1% | 93.0% | 67.6% | 3795.3% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.1% | 3.7% | 0.3% | — | 3.7% | 4.7% | 1.4% | 14.6% | — |
| FCF Yield | 7.0% | 7.8% | 5.6% | 5.3% | 15.0% | 38.8% | 12.6% | 22.5% | — |
| Buyback Yield | 1.2% | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 2.2% | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $197M | $191M | $187M | $189M | $44M | $40M | $40M | $40M |
Performance fee realization volatility
According to recent market data, GCMG trades at a 29.38x TTM P/E ratio, which appears elevated relative to its forward P/E of 14.31, suggesting that investors are pricing in significant future earnings recovery that remains contingent on the firm's ability to stabilize its volatile performance-based revenue streams.
The current valuation multiples reflect a market that is struggling to reconcile the firm's legacy hedge fund-of-funds identity with its pivot toward higher-growth infrastructure mandates. Investors should monitor whether the forward P/E compression is a sign of anticipated earnings growth or merely a reflection of market skepticism regarding the sustainability of current fee-related earnings.
Based on reported figures, GCMG's ROIC has remained largely suppressed, fluctuating between -3.7% and 8.5% over the last ten quarters, which indicates that the firm is struggling to generate consistent returns on its invested capital compared to more established peers like Hamilton Lane.
The erratic nature of these returns suggests that the firm's capital allocation is heavily influenced by non-recurring investment gains and the complexities of its post-SPAC organizational structure. This lack of compounding efficiency warrants further investigation into whether the firm's customized separate account model can eventually deliver the scale-driven returns necessary to justify its current capital base.
As reported in financial statements, GCMG's asset turnover has remained stagnant at approximately 0.20x, highlighting a structural limitation in the firm's ability to generate revenue relative to its asset base, a trend that appears significantly weaker than the operational efficiency observed in broader asset management peers.
The lack of meaningful improvement in asset turnover suggests that the firm's growth is heavily dependent on capital-intensive mandates rather than scalable, high-velocity product offerings. Investors should monitor whether the firm's focus on customized institutional solutions creates a permanent drag on efficiency that prevents the realization of operating leverage.
According to recent SEC filings, GCMG's debt-to-EBITDA ratio has shown extreme volatility, peaking at 30.97x in 2023Q4, which indicates that the firm's debt service capacity is highly sensitive to the lumpy and unpredictable nature of its performance fee realizations.
The firm's reliance on debt to manage its capital structure, combined with a historically thin or negative equity base, creates a precarious financial position that leaves little room for error during market downturns. This leverage profile suggests that the firm's ability to navigate future liquidity constraints may be more limited than its headline cash balances might otherwise imply.
Based on the firm's unique business model, the P/E ratio is frequently misapplied by market participants, as it fails to account for the significant non-cash charges and volatile performance fees that distort GAAP net income, thereby obscuring the true underlying profitability of the management business.
Analysts should instead prioritize Fee-Related Earnings (FRE) to strip away the noise of carried interest and equity-based compensation, which are the primary drivers of the current valuation disconnect. Relying on standard P/E multiples for GCMG risks misinterpreting accounting-driven earnings volatility as a fundamental shift in the firm's long-term competitive position.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying GCMG stock.
GCM Grosvenor Inc.'s current P/E ratio is 31.8x. The historical average is 31.3x. This places it at the 80th percentile of its historical range.
GCM Grosvenor Inc.'s current EV/EBITDA is 17.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.5x.
GCM Grosvenor Inc.'s return on equity (ROE) is 244.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 128.5%.
Based on historical data, GCM Grosvenor Inc. is trading at a P/E of 31.8x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
GCM Grosvenor Inc.'s current dividend yield is 0.96% with a payout ratio of 55.9%.
GCM Grosvenor Inc. has 100.0% gross margin and 26.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
GCM Grosvenor Inc.'s Debt/EBITDA ratio is 3.1x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.