Filing Flows › GCM Grosvenor (GCMG) › Q3 2026
GCM Grosvenor (GCMG) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 9, 2026
GCM Grosvenor (GCMG) reported revenue of $146M for the third quarter 2026 (Q3 2026), +8% from a year earlier and +8% from the quarter before. Operating margin was 32.2%, net earnings $12.3M (8.4% of revenue).
GCM Grosvenor, Q3 2026: revenue $146M (+8% year over year), operating margin 32.2%, net earnings $12.3M, operating cash flow $92.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $146M | +8% | +8% |
| Operating profit | $46.9M | +32% | +6% |
| Net earnings | $12.3M | +28% | +17% |
| Operating cash flow | $92.4M | +142% | +16% |
| Free cash flow | $91.9M | +154% | +17% |
What changed
Revenue was $145.6M in Q3 2026, up 8% year over year and up 8% from the previous quarter. Management fees, net was the largest line at 78% of revenue. Management fees, net added $12.4M year over year (up 12%), 117% of the total change. Other operating income declined 43%.
Operating profit was $46.9M, a 32.2% margin (down 0.5 points year over year). Of the extra revenue versus Q3 2025, 26% reached operating profit, below the 33% margin then. Total costs grew 9% against revenue growth of 8%. Net earnings were $12.3M, up 17% year over year. The effective tax rate was 9.8%.
Operating cash flow was $92.4M (up 16% year over year), 201% of net income including minority interests. Non-cash charges added back $1.0M of depreciation and amortization and $7.8M of share-based compensation. Working capital and other items added $37.6M. Capital expenditures of $455K left free cash flow of $91.9M.
Questions
What was GCM Grosvenor's revenue in the third quarter 2026?
GCM Grosvenor (GCMG) reported revenue of $146M for the third quarter 2026 (Q3 2026), +8% from a year earlier and +8% from the quarter before.
Was GCM Grosvenor profitable in the third quarter 2026?
Operating profit was $46.9M (32.2% of revenue) and net earnings $12.3M.
Source: GCM Grosvenor 10-Q on SEC EDGAR.