Filing Flows › GCM Grosvenor (GCMG) › Q4 2024
GCM Grosvenor (GCMG) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Feb 21, 2025
GCM Grosvenor (GCMG) reported revenue of $165M for the fourth quarter 2024 (Q4 2024), +42% from a year earlier and +34% from the quarter before. Operating margin was 26.4%, net earnings $7.6M (4.6% of revenue).
GCM Grosvenor, Q4 2024: revenue $165M (+42% year over year), operating margin 26.4%, net earnings $7.6M, operating cash flow $38.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $165M | +34% | +42% |
| Operating profit | $43.6M | +74% | +232% |
| Net earnings | $7.6M | +83% | +134% |
| Operating cash flow | $38.1M | -45% | +43% |
| Free cash flow | $37.0M | -41% | +53% |
What changed
Revenue was $165.3M in Q4 2024, up 42% year over year and up 34% from the previous quarter. Management fees, net was the largest line at 63% of revenue.
Operating profit was $43.6M, a 26.4% margin (up 15.1 points year over year). Of the extra revenue versus a year earlier, 63% reached operating profit, above the 11% margin then. Total costs grew 18% against revenue growth of 42%. The fastest-growing cost line was Other operating costs (+21%). Net earnings were $7.6M, up 134% year over year. The effective tax rate was 16.5%.
Operating cash flow was $38.1M (up 43% year over year), 125% of net income including minority interests. Non-cash charges added back $1.0M of depreciation and amortization and $13.4M of share-based compensation. Working capital and other items used $6.8M. Capital expenditures of $1.1M left free cash flow of $37.0M.
Questions
What was GCM Grosvenor's revenue in the fourth quarter 2024?
GCM Grosvenor (GCMG) reported revenue of $165M for the fourth quarter 2024 (Q4 2024), +42% from a year earlier and +34% from the quarter before.
Was GCM Grosvenor profitable in the fourth quarter 2024?
Operating profit was $43.6M (26.4% of revenue) and net earnings $7.6M.
Source: GCM Grosvenor 10-K on SEC EDGAR.