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Side-by-side financial comparison of AlTi Global, Inc. (ALTI) and GCM Grosvenor Inc. (GCMG). Click either name above to swap in a different company.
GCM Grosvenor Inc. is the larger business by last-quarter revenue ($177.1M vs $86.6M, roughly 2.0× AlTi Global, Inc.). GCM Grosvenor Inc. runs the higher net margin — 32.8% vs -15.1%, a 48.0% gap on every dollar of revenue. On growth, AlTi Global, Inc. posted the faster year-over-year revenue change (87.0% vs 7.2%). GCM Grosvenor Inc. produced more free cash flow last quarter ($175.0M vs $-52.2M). Over the past eight quarters, AlTi Global, Inc.'s revenue compounded faster (30.6% CAGR vs 27.5%).
Cristal Global is the world's second-largest producer of titanium dioxide and a leading producer of titanium chemicals. It was formed when The National Titanium Dioxide Company Ltd. combined with Millennium Chemicals. The headquarters are in Jeddah, Saudi Arabia. It is a significant shareholder in Bemax, the world’s 5th largest TiO2 feedstock producer.
GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.
ALTI vs GCMG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.6M | $177.1M |
| Net Profit | $-13.1M | $58.2M |
| Gross Margin | — | — |
| Operating Margin | -2.1% | 30.9% |
| Net Margin | -15.1% | 32.8% |
| Revenue YoY | 87.0% | 7.2% |
| Net Profit YoY | 75.6% | 149.2% |
| EPS (diluted) | — | $0.23 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $86.6M | $177.1M | ||
| Q3 25 | $57.2M | $135.0M | ||
| Q2 25 | $53.1M | $119.7M | ||
| Q1 25 | $58.0M | $125.8M | ||
| Q4 24 | $46.3M | $165.3M | ||
| Q3 24 | $51.8M | $122.9M | ||
| Q2 24 | $49.5M | $117.0M | ||
| Q1 24 | $50.8M | $108.9M |
| Q4 25 | $-13.1M | $58.2M | ||
| Q3 25 | $-84.1M | $10.5M | ||
| Q2 25 | $-24.4M | $15.4M | ||
| Q1 25 | $1.9M | $463.0K | ||
| Q4 24 | $-53.8M | $7.6M | ||
| Q3 24 | $-72.5M | $4.2M | ||
| Q2 24 | $-6.4M | $4.8M | ||
| Q1 24 | $29.7M | $2.1M |
| Q4 25 | -2.1% | 30.9% | ||
| Q3 25 | -49.8% | 32.7% | ||
| Q2 25 | -56.7% | 16.1% | ||
| Q1 25 | -23.3% | 12.2% | ||
| Q4 24 | -42.7% | 26.4% | ||
| Q3 24 | -18.4% | 20.3% | ||
| Q2 24 | -30.2% | 17.8% | ||
| Q1 24 | -28.9% | -14.7% |
| Q4 25 | -15.1% | 32.8% | ||
| Q3 25 | -147.0% | 7.8% | ||
| Q2 25 | -45.9% | 12.9% | ||
| Q1 25 | 3.3% | 0.4% | ||
| Q4 24 | -116.1% | 4.6% | ||
| Q3 24 | -140.0% | 3.4% | ||
| Q2 24 | -12.9% | 4.1% | ||
| Q1 24 | 58.4% | 2.0% |
| Q4 25 | — | $0.23 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | $-0.33 | $0.05 | ||
| Q1 25 | $-0.04 | $-0.02 | ||
| Q4 24 | $-0.71 | $0.09 | ||
| Q3 24 | $-0.88 | $0.03 | ||
| Q2 24 | $-0.18 | $0.04 | ||
| Q1 24 | $0.18 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $41.2M | $242.1M |
| Total DebtLower is stronger | $883.0K | $428.4M |
| Stockholders' EquityBook value | $600.1M | $27.0M |
| Total Assets | $1.2B | $813.8M |
| Debt / EquityLower = less leverage | 0.00× | 15.87× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $41.2M | $242.1M | ||
| Q3 25 | $35.8M | $182.7M | ||
| Q2 25 | $42.4M | $136.3M | ||
| Q1 25 | $52.8M | $94.5M | ||
| Q4 24 | $64.4M | $89.5M | ||
| Q3 24 | $220.6M | $98.4M | ||
| Q2 24 | $60.0M | $73.9M | ||
| Q1 24 | $134.2M | $41.9M |
| Q4 25 | $883.0K | $428.4M | ||
| Q3 25 | $586.0K | $429.3M | ||
| Q2 25 | $673.0K | $430.2M | ||
| Q1 25 | — | $431.1M | ||
| Q4 24 | $0 | $432.0M | ||
| Q3 24 | $128.4M | $432.9M | ||
| Q2 24 | $164.0M | $433.8M | ||
| Q1 24 | $183.7M | $384.0M |
| Q4 25 | $600.1M | $27.0M | ||
| Q3 25 | $607.2M | $-7.4M | ||
| Q2 25 | $685.4M | $-12.3M | ||
| Q1 25 | $665.2M | $-28.3M | ||
| Q4 24 | $658.4M | $-27.6M | ||
| Q3 24 | $707.0M | $-31.9M | ||
| Q2 24 | $540.2M | $-28.5M | ||
| Q1 24 | $510.9M | $-26.4M |
| Q4 25 | $1.2B | $813.8M | ||
| Q3 25 | $1.2B | $685.9M | ||
| Q2 25 | $1.2B | $636.9M | ||
| Q1 25 | $1.2B | $579.8M | ||
| Q4 24 | $1.3B | $612.7M | ||
| Q3 24 | $1.4B | $575.0M | ||
| Q2 24 | $1.3B | $543.9M | ||
| Q1 24 | $1.3B | $497.3M |
| Q4 25 | 0.00× | 15.87× | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.18× | — | ||
| Q2 24 | 0.30× | — | ||
| Q1 24 | 0.36× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-51.4M | $183.5M |
| Free Cash FlowOCF − Capex | $-52.2M | $175.0M |
| FCF MarginFCF / Revenue | -60.3% | 98.8% |
| Capex IntensityCapex / Revenue | 0.9% | 4.8% |
| Cash ConversionOCF / Net Profit | — | 3.16× |
| TTM Free Cash FlowTrailing 4 quarters | — | $326.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-51.4M | $183.5M | ||
| Q3 25 | $-53.5M | $79.8M | ||
| Q2 25 | $-19.9M | $42.0M | ||
| Q1 25 | $-30.2M | $33.3M | ||
| Q4 24 | $-50.7M | $148.8M | ||
| Q3 24 | $-4.9M | $69.0M | ||
| Q2 24 | $-30.2M | $17.5M | ||
| Q1 24 | $-15.5M | $24.2M |
| Q4 25 | $-52.2M | $175.0M | ||
| Q3 25 | — | $78.3M | ||
| Q2 25 | $-20.0M | $40.8M | ||
| Q1 25 | $-31.0M | $32.1M | ||
| Q4 24 | $-58.2M | $132.0M | ||
| Q3 24 | $-9.4M | $62.2M | ||
| Q2 24 | $-31.2M | $12.8M | ||
| Q1 24 | $-15.7M | $20.0M |
| Q4 25 | -60.3% | 98.8% | ||
| Q3 25 | — | 58.0% | ||
| Q2 25 | -37.6% | 34.1% | ||
| Q1 25 | -53.4% | 25.5% | ||
| Q4 24 | -125.7% | 79.9% | ||
| Q3 24 | -18.2% | 50.6% | ||
| Q2 24 | -63.2% | 10.9% | ||
| Q1 24 | -30.9% | 18.4% |
| Q4 25 | 0.9% | 4.8% | ||
| Q3 25 | 0.0% | 1.1% | ||
| Q2 25 | 0.0% | 1.0% | ||
| Q1 25 | 1.3% | 0.9% | ||
| Q4 24 | 16.3% | 10.1% | ||
| Q3 24 | 8.7% | 5.5% | ||
| Q2 24 | 2.2% | 4.0% | ||
| Q1 24 | 0.4% | 3.9% |
| Q4 25 | — | 3.16× | ||
| Q3 25 | — | 7.61× | ||
| Q2 25 | — | 2.72× | ||
| Q1 25 | -15.80× | 71.84× | ||
| Q4 24 | — | 19.54× | ||
| Q3 24 | — | 16.60× | ||
| Q2 24 | — | 3.64× | ||
| Q1 24 | -0.52× | 11.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALTI
| Management Advisory Fees | $51.1M | 59% |
| Other | $32.7M | 38% |
| Distributions From Investments | $2.9M | 3% |
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
