GCM Grosvenor Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	45.37	18.7	12.77	19.82	21.48
Depreciation & Amortization	4.42	3.32	2.7	3.86	4.02
Other Amortization	0.78	0.9	1.1	1.11	1.03
Stock-Based Compensation	40.85	31.92	22.76	26.76	47.06
Other Operating Activities	120.23	110.84	64.5	136.16	92.99
Change in Accounts Receivable	-10.96	-34.41	-17.1	77.93	-29.38
Change in Other Net Operating Assets	-17.15	17.51	5.33	-49.12	41.61
Operating Cash Flow	183.54	148.77	92.07	216.51	178.8
Operating Cash Flow Growth	23.37%	61.60%	-57.48%	21.09%	162.29%
Capital Expenditures	-8.5	-16.73	-3.76	-0.78	-0.58
Investment in Securities	-18.01	-15.11	-15.08	-9.29	-28.87
Other Investing Activities	-	-	-	-	1.34
Investing Cash Flow	-26.51	-31.83	-18.84	-10.07	-28.11
Long-Term Debt Issued	-	50	-	-	110
Long-Term Debt Repaid	-4.38	-3.19	-4	-4	-53.26
Net Debt Issued (Repaid)	-4.38	46.81	-4	-4	56.74
Issuance of Common Stock	169.55	-	-	-	24.47
Repurchase of Common Stock	-46.91	-12.75	-14.7	-32.84	-7.82
Common Dividends Paid	-25.34	-20.55	-20.32	-18.43	-14.53
Other Financing Activities	-97.78	-83.89	-74.64	-159.8	-310.14
Financing Cash Flow	-4.86	-70.38	-113.66	-215.07	-251.27
Foreign Exchange Rate Adjustments	0.49	-1.46	-0.37	-2.4	-1.38
Net Cash Flow	152.66	45.1	-40.81	-11.02	-101.96
Free Cash Flow	175.04	132.05	88.3	215.73	178.23
Free Cash Flow Growth	32.56%	49.54%	-59.07%	21.04%	166.56%
Free Cash Flow Margin	31.57%	25.80%	19.89%	48.41%	33.62%
Free Cash Flow Per Share	0.89	0.69	0.47	1.14	0.94
Cash Interest Paid	28.61	32.27	30.03	18.41	13.78
Cash Income Tax Paid	6.5	5.02	3.45	8.54	4.37
Levered Free Cash Flow	94.21	47.53	21.3	108.16	104.95
Unlevered Free Cash Flow	107.68	61.73	35.04	121.62	116.48
Change in Working Capital	-28.11	-16.9	-11.77	28.81	12.23

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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