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GAM Holding (GMHLF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of GAM Holding $0.03, price $0.05, upside -44.0%, quality 26 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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Thin data
Jul 26, 2026
Thin data
Jul 26, 2026
GAM Holding
GMHLF · USWeakest SetupStrongly overvalued and low quality.
!Fair value $0.0280 · Strongly overvalued (−44.0%)
!Quality 26/100
!Weak Growth (revenue 5y −36.4 %/yr)
!Loss-making · -152.1% net margin (TTM)
!Moderate debt · negative free cash flow
!Narrow moat 13/100
!Evidence only low, so the estimate is less certain
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.
How to read this chart
60‑month range $0.0500 – $18.35 · the $0.0500 price screens above the $0.0280 fair value. Dashed = 300-day average. As of Jul 26, 2026.
Company profile
GAM Holding AG is a publicly owned asset management holding company. The firm provides its services to institutions, financial intermediaries and private investors. Through its subsidiaries, the firm manages separate client focused equity and fixed income portfolios.
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GAM Holding AG is a publicly owned asset management holding company. The firm provides its services to institutions, financial intermediaries and private investors. Through its subsidiaries, the firm manages separate client focused equity and fixed income portfolios. Through its subsidiaries, it also launches and manages equity, fixed income, and balanced mutual funds. Through its subsidiaries, the firm invests in public equity and fixed income markets. GAM Holding AG is based in Zurich, Switzerland with an additional office in Geneva, Switzerland and London, United Kingdom.
Stock analysis
GAM Holding (GMHLF) currently trades at $0.0500, while our model-based Fair Value estimate is $0.0280, 44.0% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.
Quality & growth
The Quality Score stands at 26/100 (below-average quality), in the Financial Services sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
GAM Holding reported revenue of CHF 71.6M in FY2025 versus CHF 227M in FY2021, a compound −25.0%/yr. Reported net income was −CHF 74.2M in FY2025.
Key figures
Market cap $244M · P/S ratio 4.99 · EPS (TTM) $−0.1800 · Net margin −104% · Return on equity −115% · Return on assets (EBIT) −22.0% · Operating margin −123% · Revenue (TTM) CHF 48.8M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (medium confidence).
What moves the price
The share trades about 77% below its 52-week high and at its 52-week low.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at −44%, GMHLF screens richer than that median.
Fair Value models
Bear $0.0280
Fair Value $0.0280
Bull $0.0280
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.
Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham)
$0.0200
$0.0200
$0.0300
55
All 1 models by family
Asset-Based
NCAV (Graham)
$0.0200
$0.0200
$0.0300
55
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Set up alert →Quality Score breakdown
Overall quality
26/100
Of which business quality 29 · Market factors (momentum, volatility) 10
Profitability
17
Margins and returns on capital today
Quality Growth
20
Are margins and returns improving?
Cashflow
7
Earnings quality: real cash, not paper profit
Fin. Strength
53
Balance sheet, leverage, solvency risk
Investment
97
Disciplined investing over empire-building
Low Volatility
22
Calm price path (market factor)
Momentum
9
Price trend over the last 3–12 months (market factor)
52W Momentum
0
Distance to the 52-week high (market factor)
Net Issuance
0
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−50.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−24.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−36.4%
Start year 2020 (pandemic). Over 10 years: −23.8% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−11.9%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
1.9% (2019) → −87.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
GMHLF screens overvalued: fair value 44% below the price. Compare with Blackstone Inc →
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Blackstone Inc BX | $112.09 | $52.29 | −53% |
| KKR & Co KKR | $93.18 | $29.26 | −69% |
| Brookfield Corporation BN | $36.87 | $13.45 | −64% |
| Apollo Global Management, Inc APO | $116.06 | $197.23 | +70% |
| State Street Corporation STT | $177.78 | $139.37 | −22% |
| Ameriprise Financial, Inc AMP | $494.82 | $595.40 | +20% |
| Ares Management Corporation ARES | $122.01 | $103.68 | −15% |
| Northern Trust Corporation NTRS | $175.73 | $123.42 | −30% |
| Raymond James Financial, Inc RJF | $161.16 | $317.27 | +97% |
| Exor N.V EXO | €68.10 | €136.20 | +100% |
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Frequently asked questions
Is GAM Holding (GMHLF) overvalued or undervalued?
As of Jul 26, 2026, our model estimates a fair value of $0.0280 versus a price of $0.0500, about −44% upside (overvalued).
What is the fair value of GMHLF?
Our model-based fair value for GAM Holding is $0.0280 (as of Jul 26, 2026), built from audited fundamentals. The current price: $0.0500.
What is the quality score of GMHLF?
GAM Holding has a Quality Score of 26/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for GAM Holding (GMHLF)?
Our model-based price target is the fair value of $0.0280 (as of Jul 26, 2026) from 1 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the GAM Holding stock forecast for 2026?
Our models put fair value at $0.0280, about −44% upside versus a price of $0.0500 (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of GAM Holding (GMHLF)?
GAM Holding reported trailing-twelve-month revenue of about CHF 48.8M (latest available figure, as of Jul 26, 2026).
What is the intrinsic value of GAM Holding (GMHLF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GAM Holding it is $0.0280 per share (as of Jul 26, 2026), against a price of $0.0500. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is GAM Holding stock overvalued or undervalued in 2026?
As of Jul 26, 2026, GMHLF trades above its calculated fair value: price $0.0500, fair value $0.0280, a gap of about −44% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GMHLF?
No. The price is what the market pays today ($0.0500); the fair value is what the company's own numbers justify ($0.0280). For GAM Holding the two are $0.0220 per share apart. That gap is exactly why we show both numbers side by side.
How much is GAM Holding worth?
The market values GAM Holding at about $244M (market capitalisation, as of Jul 26, 2026). Per share that is $0.0500; our models calculate a fair value of $0.0280 per share.
How far is GMHLF from its 52-week high?
GAM Holding trades at $0.0500, about 77% below its 52-week high of $0.2200 and at the low of $0.0500 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $0.0280 is for.
Which stocks are comparable to GAM Holding?
From the same area (Financial Services) we also value Blackstone Inc, KKR & Co, Brookfield Corporation, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is GAM Holding stock attractive at the current price?
The data as of Jul 26, 2026: price $0.0500, calculated fair value $0.0280 (−44%), Quality Score 26/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GMHLF calculated?
We run GAM Holding through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.0280, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. GAM Holding itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of GAM Holding (GMHLF)?
The closing price on Oct 2, 2026 was $0.0500. Our model-based fair value is $0.0280, about −44% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GAM Holding right now?
The price sits above even our optimistic bull case ($0.0280). The favourable scenario is already priced in. Weak quality (26/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of GAM Holding
How large is the market capitalisation of GAM Holding (GMHLF)?
The market capitalisation of GAM Holding is $244M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of GAM Holding (GMHLF)?
The price-to-sales ratio of GAM Holding is 4.99 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of GAM Holding (GMHLF)?
Earnings per share at GAM Holding are $−0.1800. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of GAM Holding (GMHLF)?
The net margin of GAM Holding is −104% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of GAM Holding (GMHLF)?
The return on equity (ROE) of GAM Holding is −115% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of GAM Holding (GMHLF)?
On an EBIT basis the return on assets of GAM Holding is −22.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of GAM Holding (GMHLF)?
The operating margin of GAM Holding is −123% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at GAM Holding (GMHLF)?
Revenue at GAM Holding is growing −37.2% versus a year earlier (3y avg −24.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at GAM Holding (GMHLF)?
Earnings per share at GAM Holding are growing −96.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does GAM Holding (GMHLF) generate?
The free cash flow of GAM Holding is −CHF 61.3M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does GAM Holding (GMHLF) carry?
The net debt of GAM Holding is CHF 4.8M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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