GAM

MKT CAP:$2B

General American Investors Company, Inc.

Market Cap

$2B

Financial Services·Asset Management·🇺🇸 United States·NYSE

Financials·Asset Management·🇺🇸·NYSE

Stock Price

$65.24+$6.42 (+10.91%)

Apr 24, 2026

Company Details

General 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, Finan...

CEO

Jeffrey Priest

IPO Date

Mar 17, 1980

Website

www.generalamericaninvestors.com

Key Metrics TTM

Revenue

$28M

-69.1% YoY

Net Income

$202M

EPS (Diluted)

$8.18

Free Cash Flow

$0

Revenue / Share

$1.19

Gross Margin

100.0%

Operating Margin

21.3%

Net Margin

730.0%

FCF Margin

0.0%

P/S

55.2x

P/E

7.6x

Earnings Reports

FY 2025

Dec 31, 2025

$164M-34.9%EPS $20.46

Q2 2025

Jun 30, 2025

$6M-14.2%EPS $3.11

Q1 2025

Mar 31, 2025

$6M-84.9%EPS $3.11

FY 2024

Dec 31, 2024

$252M+180.6%EPS $10.81

Q4 2024

Dec 31, 2024

$8M-32.9%EPS $0.98

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$22M	$19M	-$3M
Q4 21	$26M	$23M	$123M
Q1 22	$32M	$30M	-$32M
Q2 22	$9M	$7M	-$209M
Q3 22	-$801.7K	-$3M	-$36M
Q4 22	$7M	$4M	$100M
Q1 23	$31M	$28M	$80M
Q2 23	$18M	$15M	$92M
Q3 23	$29M	$26M	-$23M
Q4 23	$11M	$7M	-$1M
Q1 24	$42M	$38M	$123M
Q2 24	$7M	$7M	$71M
Q3 24	$8M	$8M	$2M
Q4 24	$8M	$8M	$2M
Q1 25	$6M	$6M	$1M
Q2 25	$6M	$6M	$1M

Valuation

Quarter	P/S	P/E
Q3 21	19.1x	5.0x
Q4 21	14.1x	5.2x
Q1 22	14.1x	8.0x
Q2 22	17.0x	—
Q3 22	22.7x	—
Q4 22	31.8x	—
Q1 23	33.0x	—
Q2 23	27.5x	6.4x
Q3 23	17.8x	6.1x
Q4 23	17.0x	5.6x
Q1 24	15.2x	4.8x
Q2 24	17.1x	5.2x
Q3 24	22.6x	4.4x
Q4 24	23.9x	6.2x
Q1 25	53.2x	7.7x
Q2 25	55.2x	7.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$0	$0
Q4 21	$0	$0
Q1 22	$0	$0
Q2 22	$0	$0
Q3 22	$0	$0
Q4 22	$0	$0
Q1 23	$0	$0
Q2 23	$0	$0
Q3 23	$0	$0
Q4 23	$0	$0
Q1 24	$0	$0
Q2 24	$0	$0
Q3 24	$0	$0
Q4 24	$0	$0
Q1 25	$0	$0
Q2 25	$0	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+90.5%	+143.6%
Q4 21	+1601.4%	+28.5%
Q1 22	+2.0%	+272.8%
Q2 22	-67.6%	+388.4%
Q3 22	-103.7%	+44.5%
Q4 22	-72.8%	+4.1%
Q1 23	-5.0%	-176.2%
Q2 23	+100.1%	-134.0%
Q3 23	+3764.3%	+49.3%
Q4 23	+56.6%	+113.3%
Q1 24	+34.6%	-64.2%
Q2 24	-59.8%	+13.8%
Q3 24	-74.3%	-89.0%
Q4 24	-32.9%	-53.5%
Q1 25	-84.9%	+106.3%
Q2 25	-14.2%	+108.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	—
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 21	$2M	$3M	$255.6K
Q4 21	$2M	$4M	$240.4K
Q1 22	$2M	$3M	$250.0K
Q2 22	$1M	$3M	$252.7K
Q3 22	$2M	$3M	$258.0K
Q4 22	$2M	$3M	$238.0K
Q1 23	$2M	$3M	$246.6K
Q2 23	$2M	$3M	$249.3K
Q3 23	$2M	$3M	$252.1K
Q4 23	$3M	$5M	$248.9K
Q1 24	$2M	$4M	$258.5K
Q2 24	$2M	$3M	$258.7K
Q3 24	$2M	$3M	$179.9K
Q4 24	$2M	$3M	$179.9K
Q1 25	$2M	$3M	$236.8K
Q2 25	$2M	$3M	$236.8K

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$0	$0	$0
Q1 22	$0	$0	$0
Q2 22	$9.7K	$0	$9.7K
Q3 22	$77M	$0	$77M
Q4 22	$182.2K	$0	$182.2K
Q1 23	$149M	$0	$149M
Q2 23	$20.0K	$0	$20.0K
Q3 23	$124M	$0	$124M
Q4 23	$117.5K	$0	$117.5K
Q1 24	$67M	$0	$67M
Q2 24	$65M	$0	$65M
Q3 24	$1M	$0	$1M
Q4 24	$69.6K	$0	$69.6K
Q1 25	$1M	$0	$1M
Q2 25	$0	$0	$0
Q4 25	$415.1K	$0	$415.1K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	16M	-3.3%	-6.1%
Q4 21	17M	+6.0%	-3.8%
Q1 22	17M	-0.6%	-0.6%
Q2 22	16M	-4.4%	-2.5%
Q3 22	16M	-0.7%	+0.1%
Q4 22	16M	+0.7%	-4.9%
Q1 23	16M	-0.2%	-4.6%
Q2 23	16M	-1.0%	-1.2%
Q3 23	15M	-4.5%	-5.0%
Q4 23	15M	+2.8%	-3.1%
Q1 24	15M	-1.9%	-4.7%
Q2 24	23M	+53.5%	+47.8%
Q3 24	23M	+0.7%	+55.8%
Q4 24	23M	0.0%	+51.6%
Q1 25	23M	-0.8%	+53.3%
Q2 25	23M	0.0%	-0.1%

Shares Outstanding