Company Valuation: GAM Holding AG

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 339.1 212.4 146.9 62.03 93.33 158
Change - -37.37% -30.86% -57.76% 50.45% 69.27%
Enterprise Value (EV) 1 130 14.61 43.96 45.43 46.43 175.1
Change - -88.76% 200.81% 3.34% 2.19% 277.11%
P/E -0.87x -9.07x -0.51x -0.75x -0.32x -2.09x
PBR 0.71x 0.44x 0.97x 1.01x 0.85x 5.34x
PEG - 0.1x -0x 0x 0x 0x
Capitalization / Revenue 1.46x 0.94x 0.89x 0.48x 1.16x 3.24x
EV / Revenue 0.56x 0.06x 0.27x 0.35x 0.58x 3.59x
EV / EBITDA -17.6x -4.3x -1.13x -1.24x -0.87x -3.09x
EV / EBIT -8.03x -1.68x -1.04x -0.94x -0.79x -2.9x
EV / FCF -4.3x 1.47x -0.91x -0.96x -1.2x -7.94x
FCF Yield -23.2% 68% -110% -104% -83.7% -12.6%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -2.48 -0.15 -1.86 -0.52 -0.2701 -0.07
Distribution rate - - - - - -
Net sales 1 232.6 226.5 165.4 130.2 80.7 48.8
EBITDA 1 -7.4 -3.4 -38.8 -36.6 -53.4 -56.7
EBIT 1 -16.2 -8.7 -42.1 -48.1 -58.6 -60.4
Net income 1 -388.4 -23.3 -290 -82.1 -70.9 -74.2
Net Debt 1 -209.1 -197.8 -102.9 -16.6 -46.9 17.1
Reference price 2 2.1640 1.3600 0.9400 0.3915 0.0877 0.1465
Nbr of stocks (in thousands) 156,717 156,187 156,237 158,445 1,064,151 1,078,332
Announcement Date 2/18/21 2/18/22 5/4/23 3/26/24 3/26/25 3/27/26
1CHF in Million2CHF
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 84.8M
21.58x5.88x12.71x2.02% 176B
13.36x3.3x - 2.65% 143B
15.81x7.25x - 1.56% 99.31B
19.42x6.99x12.46x4.36% 93.33B
14.5x9.83x16.85x0.85% 82.51B
22.09x11.58x18.97x4.29% 74.75B
18.45x10.63x8.19x1.96% 67.48B
12.71x4.85x - 2.05% 46.62B
Average 17.24x 7.54x 13.83x 2.47% 87.02B
Weighted average by Cap. 17.59x 7.02x 13.68x 2.45%

Y-o-Y evolution of P/E

Valuation ratios - P/E - GAM Holding AG

Historical PBR trend

Valuation ratios - PBR - GAM Holding AG

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - GAM Holding AG

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - GAM Holding AG

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