GAM FY 2025 Earnings Report — General American Investors Company, Inc. Revenue & Financial Results | Market Cap Arena

General American Investors Company, Inc.GAM

FY 2025 Earnings

Reported December 31, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$164M	—	$252M	—	-34.9%
Op. Income	$340M	—	$245M	—	38.5%
Gross Margin	91.5%	—	100.0%	—	-8.5pp
Net Margin	207.4%	—	97.5%	—	109.8pp
EPS (Diluted)	$20.46	—	$10.81	—	89.3%

Revenue Flow

Item	Amount
REVENUE	$164M
Cost of Revenue	$14M
GROSS PROFIT	$150M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$6M
SG&A Expenses	$6M
Other Expenses	-$195M
Operating Expenses	-$190M
Cost & Expenses	-$176M
OPERATING INCOME	$340M
Interest Income	$24M
Interest Expense	$0
Other Income/Expenses	$67.4K
INCOME BEFORE TAX	$340M
Income Tax Expense	$0
Net Income from Continuing Ops	$340M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$340M
Net Income Deductions	-$11M
BOTTOM LINE NET INCOME	$340M
D&A	$90.9K
EBIT	$340M
EBITDA	$340M
EPS	$20
EPS Diluted	$20

Income Statement

Item	Amount
REVENUE	$164M
Cost of Revenue	$14M
GROSS PROFIT	$150M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$6M
SG&A Expenses	$6M
Other Expenses	-$195M
Operating Expenses	-$190M
Cost & Expenses	-$176M
OPERATING INCOME	$340M
Interest Income	$24M
Interest Expense	$0
Other Income/Expenses	$67.4K
INCOME BEFORE TAX	$340M
Income Tax Expense	$0
Net Income from Continuing Ops	$340M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$340M
Net Income Deductions	-$11M
BOTTOM LINE NET INCOME	$340M
D&A	$90.9K
EBIT	$340M
EBITDA	$340M
EPS	$20
EPS Diluted	$20

Balance Sheet

Item	Amount
Cash & Equivalents	$415.1K
Short-Term Investments	$0
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$415.1K
PP&E (Net)	$2M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$3M
Tax Assets	$0
Other Non-Current Assets	$1.8B
TOTAL NON-CURRENT ASSETS	$1.8B
TOTAL ASSETS	$1.8B
Account Payables	$330.1K
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$330.1K
Long-Term Debt	$2M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$15M
TOTAL NON-CURRENT LIABILITIES	$17M
TOTAL LIABILITIES	$17M
Common Stock	$24M
Additional Paid-In Capital	$364M
Retained Earnings	$1.2B
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$7M
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$0
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$2M
Net Debt	$1M