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GAM Holding

DB:GAD
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GAD
DB
CHF627M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

GAM Holding AG is a publicly owned asset management holding company. The last earnings update was 57 days ago. More info.


Add to Portfolio Compare Print
  • GAM Holding is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
GAD Share Price and Events
7 Day Returns
0%
DB:GAD
-1%
DE Capital Markets
-0.6%
DE Market
1 Year Returns
-36.8%
DB:GAD
-5%
DE Capital Markets
-5.5%
DE Market
GAD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
GAM Holding (GAD) 0% 0% 0.6% -36.8% -52.9% -70.3%
DE Capital Markets -1% 6.7% 7.4% -5% 15.5% -38%
DE Market -0.6% 4.9% 0.9% -5.5% 7.9% 14.2%
1 Year Return vs Industry and Market
  • GAD underperformed the Capital Markets industry which returned -5% over the past year.
  • GAD underperformed the Market in Germany which returned -5.5% over the past year.
Price Volatility
GAD
Industry
5yr Volatility vs Market

Value

 Is GAM Holding undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of GAM Holding to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for GAM Holding.

DB:GAD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CHF6.21 * 6.1%
CHF0.38
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. CHF6.21
Discount Rate (Cost of Equity) See below 6.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:GAD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.693 (1 + (1- 18%) (0%))
1.077
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.077 * 5.96%)
6.65%

Discounted Cash Flow Calculation for DB:GAD using Excess Returns Model Model

The calculations below outline how an intrinsic value for GAM Holding is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:GAD Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6.1% – 6.65%) * CHF6.21)
CHF-0.03
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CHF-0.03 / (6.65% - 0.23%)
CHF-0.53
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CHF6.21 + CHF-0.53
CHF5.68
DB:GAD Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:GAD represents 1.00545x of SWX:GAM
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00545x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 5.68 x 1.00545
€5.71
Value per share (EUR) From above. €5.71
Current discount Discount to share price of €4.06
= -1 x (€4.06 - €5.71) / €5.71
29%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price GAM Holding is available for.
Intrinsic value
29%
Share price is €4.06 vs Future cash flow value of €5.71
Current Discount Checks
For GAM Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • GAM Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • GAM Holding's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for GAM Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are GAM Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:GAD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in CHF CHF-6.24
SWX:GAM Share Price ** SWX (2019-06-28) in CHF CHF4.03
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 25.86x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 20.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of GAM Holding.

DB:GAD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:GAM Share Price ÷ EPS (both in CHF)

= 4.03 ÷ -6.24

-0.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GAM Holding is loss making, we can't compare its value to the DE Capital Markets industry average.
  • GAM Holding is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does GAM Holding's expected growth come at a high price?
Raw Data
DB:GAD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -0.65x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
172%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 6 Publicly-Listed Capital Markets Companies 2.64x
Germany Market PEG Ratio Median Figure of 266 Publicly-Listed Companies 1.42x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for GAM Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on GAM Holding's assets?
Raw Data
DB:GAD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in CHF CHF5.30
SWX:GAM Share Price * SWX (2019-06-28) in CHF CHF4.03
Germany Capital Markets Industry PB Ratio Median Figure of 35 Publicly-Listed Capital Markets Companies 1.98x
Germany Market PB Ratio Median Figure of 596 Publicly-Listed Companies 1.72x
DB:GAD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:GAM Share Price ÷ Book Value per Share (both in CHF)

= 4.03 ÷ 5.30

0.76x

* Primary Listing of GAM Holding.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • GAM Holding is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess GAM Holding's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. GAM Holding has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is GAM Holding expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
172%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is GAM Holding expected to grow at an attractive rate?
  • GAM Holding's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • GAM Holding's earnings growth is expected to exceed the Germany market average.
  • GAM Holding's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:GAD Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:GAD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 172%
DB:GAD Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -2.8%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 43.2%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:GAD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in CHF Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:GAD Future Estimates Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 336 2
2020-12-31 330 31 2
2019-12-31 333 -3 2
2019-09-25
DB:GAD Past Financials Data
Date (Data in CHF Millions) Revenue Cash Flow Net Income *
2019-06-30 383 -23 -968
2019-03-31 442 49 -949
2018-12-31 500 121 -929
2018-09-30 541 155 -424
2018-06-30 582 188 81
2018-03-31 567 164 102
2017-12-31 553 140 123
2017-09-30 524 132 136
2017-06-30 496 124 149
2017-03-31 483 100 142
2016-12-31 471 76 134
2016-09-30 500 121 123

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • GAM Holding's earnings are expected to grow significantly at over 20% yearly.
  • GAM Holding's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:GAD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from GAM Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:GAD Future Estimates Data
Date (Data in CHF Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 0.20 0.20 0.20 1.00
2019-12-31 -0.02 -0.02 -0.02 1.00
2019-09-25
DB:GAD Past Financials Data
Date (Data in CHF Millions) EPS *
2019-06-30 -6.24
2019-03-31 -6.11
2018-12-31 -5.98
2018-09-30 -2.72
2018-06-30 0.52
2018-03-31 0.65
2017-12-31 0.78
2017-09-30 0.86
2017-06-30 0.94
2017-03-31 0.90
2016-12-31 0.85
2016-09-30 0.77

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • GAM Holding is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess GAM Holding's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
GAM Holding has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has GAM Holding performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare GAM Holding's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • GAM Holding does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare GAM Holding's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare GAM Holding's 1-year growth to the DE Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
GAM Holding's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from GAM Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:GAD Past Revenue, Cash Flow and Net Income Data
Date (Data in CHF Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 383.10 -968.10 115.90
2019-03-31 441.65 -948.60 121.80
2018-12-31 500.20 -929.10 127.70
2018-09-30 540.95 -424.10 122.25
2018-06-30 581.70 80.90 116.80
2018-03-31 567.15 102.05 111.45
2017-12-31 552.60 123.20 106.10
2017-09-30 524.30 135.95 105.80
2017-06-30 496.00 148.70 105.50
2017-03-31 483.40 141.50 104.20
2016-12-31 470.80 134.30 102.90
2016-09-30 500.00 122.50 102.90
2016-06-30 529.20 110.70 102.90
2016-03-31 563.70 124.50 103.90
2015-12-31 598.20 138.30 104.90
2015-09-30 724.90 147.60 105.75
2015-06-30 851.60 156.90 106.60
2015-03-31 966.25 161.35 106.20
2014-12-31 1,080.90 165.80 105.80
2014-09-30 1,075.60 167.45 107.65
2014-06-30 1,070.30 169.10 109.50
2014-03-31 1,109.25 182.95 109.85
2013-12-31 1,148.20 196.80 110.20
2013-09-30 1,151.90 182.40 108.55
2013-06-30 1,155.60 168.00 106.90
2013-03-31 1,101.95 127.55 106.90
2012-12-31 1,048.30 87.10 106.90
2012-09-30 1,026.05 13.30 102.80

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if GAM Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if GAM Holding has efficiently used its assets last year compared to the DE Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if GAM Holding improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess GAM Holding's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
GAM Holding has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is GAM Holding's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up GAM Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • GAM Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • GAM Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of GAM Holding's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • GAM Holding has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from GAM Holding Company Filings, last reported 2 months ago.

DB:GAD Past Debt and Equity Data
Date (Data in CHF Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 824.10 0.00 262.90
2019-03-31 824.10 0.00 262.90
2018-12-31 839.20 0.00 358.80
2018-09-30 839.20 0.00 358.80
2018-06-30 1,813.70 0.00 368.50
2018-03-31 1,813.70 0.00 368.50
2017-12-31 1,882.60 0.00 419.70
2017-09-30 1,882.60 0.00 419.70
2017-06-30 1,819.90 0.00 334.90
2017-03-31 1,819.90 0.00 334.90
2016-12-31 1,844.00 0.00 428.00
2016-09-30 1,844.00 0.00 428.00
2016-06-30 1,773.70 0.00 545.30
2016-03-31 1,773.70 0.00 545.30
2015-12-31 1,876.40 0.00 682.20
2015-09-30 1,876.40 0.00 682.20
2015-06-30 1,842.90 0.00 596.50
2015-03-31 1,842.90 0.00 596.50
2014-12-31 1,915.90 0.00 761.60
2014-09-30 1,915.90 0.00 761.60
2014-06-30 1,873.40 0.00 637.50
2014-03-31 1,873.40 0.00 637.50
2013-12-31 1,919.70 0.00 667.30
2013-09-30 1,919.70 0.00 667.30
2013-06-30 1,842.80 0.00 607.50
2013-03-31 1,842.80 0.00 607.50
2012-12-31 1,902.80 0.00 586.60
2012-09-30 1,953.30 0.00 682.40
  • GAM Holding has no debt.
  • GAM Holding has not taken on any debt in the past 5 years.
  • GAM Holding has no debt, it does not need to be covered by operating cash flow.
  • GAM Holding has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess GAM Holding's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. GAM Holding has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is GAM Holding's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from GAM Holding dividends. Estimated to be 1.11% next year.
If you bought €2,000 of GAM Holding shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate GAM Holding's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate GAM Holding's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:GAD Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 17 Stocks 2.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 335 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:GAD Future Dividends Estimate Data
Date (Data in CHF) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.08 2.00
2020-12-31 0.07 3.00
2019-12-31 0.00 3.00
2019-09-25
DB:GAD Past Annualized Dividends Data
Date (Data in CHF) Dividend per share (annual) Avg. Yield (%)
2019-07-30 0.000 0.000
2019-02-21 0.000 0.000
2019-01-15 0.000 0.000
2018-04-26 0.650 8.608
2017-04-10 0.650 4.335
2016-03-01 0.650 6.019
2015-04-21 0.650 3.689
2014-04-15 0.650 3.803
2013-04-17 0.500 3.099
2012-04-18 0.500 3.993
2011-04-19 0.500 4.200
2010-03-01 0.000 0.000
2009-02-06 0.500 2.335

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as GAM Holding has not reported any payouts.
  • Unable to verify if GAM Holding's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of GAM Holding's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as GAM Holding has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess GAM Holding's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can GAM Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. GAM Holding has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of GAM Holding's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Peter Sanderson
TENURE AS CEO 0 years
CEO Bio

Mr. Peter Sanderson serves as the Group Chief Executive Officer and Member of Management Board at GAM Holding AG since 2019. He most recently served as BlackRock’s head of financial service consulting in Europe, the Middle East and Africa. He had previously served as co-head of multi asset investment solutions and chief operating officer for BlackRock Solutions, having earlier worked at Mondrian and KPMG.

CEO Compensation
  • Insufficient data for Peter to compare compensation growth.
  • Insufficient data for Peter to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the GAM Holding management team in years:

1.8
Average Tenure
51
Average Age
  • The average tenure for the GAM Holding management team is less than 2 years, this suggests a new team.
Management Team

Peter Sanderson

TITLE
Group CEO & Member of Management Board

Richard McNamara

TITLE
Group CFO & Member of Group Management Board
AGE
51
TENURE
3.9 yrs

Martin Jufer

TITLE
Group Head Private Labelling & Region Head Continental Europe and Member of Group Management Board
AGE
51
TENURE
6.4 yrs

Elmar Zumbuehl

TITLE
Group Chief Risk Officer & Member of Group Management Board
AGE
49
TENURE
2.6 yrs

Tim Rainsford

TITLE
Group Head of Sales & Distribution and Member of Group Management Board
TENURE
2.6 yrs

Matthew Beesley

TITLE
Group Head of Investments & Member of Group Management Board
TENURE
1 yrs

Rachel Wheeler

TITLE
Group General Counsel & Member of Group Management Board
TENURE
1 yrs

Clare Forster

TITLE
Global Head of Operations & Business Change
TENURE
0.3 yrs

Patrick Zuppiger

TITLE
Head of Group Communications & Head of Investor Relations

David Kemp

TITLE
Group Head of Compliance
TENURE
0.9 yrs
Board of Directors Tenure

Average tenure and age of the GAM Holding board of directors in years:

1.4
Average Tenure
58
Average Age
  • The average tenure for the GAM Holding board of directors is less than 3 years, this suggests a new board.
Board of Directors

Hugh Scott-Barrett

TITLE
Chairman
COMPENSATION
CHF681K
AGE
61
TENURE
2.4 yrs

Benji Meuli

TITLE
Vice Chairman of the Board of Directors
COMPENSATION
CHF302K
AGE
63

Nancy Mistretta

TITLE
Director
COMPENSATION
CHF250K
AGE
65
TENURE
3.4 yrs

Monika Machon

TITLE
Director
AGE
58
TENURE
0.3 yrs

David Jacob

TITLE
Director
COMPENSATION
CHF275K
AGE
55
TENURE
2.4 yrs

Katia Coudray

TITLE
Director
AGE
50
TENURE
0.3 yrs

Jacqui Irvine

TITLE
Director
AGE
47
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess GAM Holding's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. GAM Holding has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

GAM Holding AG is a publicly owned asset management holding company. 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.

Details
Name: GAM Holding AG
GAD
Exchange: DB
Founded:
CHF578,616,287
155,549,074
Website: http://www.gam.com
Address: GAM Holding AG
Hardstrasse 201,
PO Box,
Zurich,
Zurich, 8037,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX GAM Registered Shares SIX Swiss Exchange CH CHF 02. Jan 1992
OTCPK GMHL.F Registered Shares Pink Sheets LLC US USD 02. Jan 1992
DB GAD Registered Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0QN3 Registered Shares London Stock Exchange GB CHF 02. Jan 1992
OTCPK GMHL.Y ADR Pink Sheets LLC US USD 13. Oct 2008
Number of employees
Current staff
Staff numbers
863
GAM Holding employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/25 21:28
End of day share price update: 2019/06/28 00:00
Last estimates confirmation: 2019/09/16
Last earnings filing: 2019/07/30
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.