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Side-by-side financial comparison of Emerald Holding, Inc. (EEX) 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 $132.7M, roughly 1.3× Emerald Holding, Inc.). GCM Grosvenor Inc. runs the higher net margin — 32.8% vs -22.8%, a 55.6% gap on every dollar of revenue. On growth, Emerald Holding, Inc. posted the faster year-over-year revenue change (24.3% vs 7.2%). GCM Grosvenor Inc. produced more free cash flow last quarter ($175.0M vs $11.7M). Over the past eight quarters, GCM Grosvenor Inc.'s revenue compounded faster (27.5% CAGR vs -0.3%).
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.
EEX vs GCMG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $132.7M | $177.1M |
| Net Profit | $-30.2M | $58.2M |
| Gross Margin | — | — |
| Operating Margin | -11.8% | 30.9% |
| Net Margin | -22.8% | 32.8% |
| Revenue YoY | 24.3% | 7.2% |
| Net Profit YoY | -692.2% | 149.2% |
| EPS (diluted) | $-0.15 | $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 | $132.7M | $177.1M | ||
| Q3 25 | $77.5M | $135.0M | ||
| Q2 25 | $105.5M | $119.7M | ||
| Q1 25 | $147.7M | $125.8M | ||
| Q4 24 | $106.8M | $165.3M | ||
| Q3 24 | $72.6M | $122.9M | ||
| Q2 24 | $86.0M | $117.0M | ||
| Q1 24 | $133.4M | $108.9M |
| Q4 25 | $-30.2M | $58.2M | ||
| Q3 25 | $-14.4M | $10.5M | ||
| Q2 25 | $-1.4M | $15.4M | ||
| Q1 25 | $15.3M | $463.0K | ||
| Q4 24 | $5.1M | $7.6M | ||
| Q3 24 | $-11.1M | $4.2M | ||
| Q2 24 | $-2.8M | $4.8M | ||
| Q1 24 | $11.0M | $2.1M |
| Q4 25 | -11.8% | 30.9% | ||
| Q3 25 | -10.1% | 32.7% | ||
| Q2 25 | 9.7% | 16.1% | ||
| Q1 25 | 24.2% | 12.2% | ||
| Q4 24 | 19.5% | 26.4% | ||
| Q3 24 | -6.5% | 20.3% | ||
| Q2 24 | 7.4% | 17.8% | ||
| Q1 24 | 18.2% | -14.7% |
| Q4 25 | -22.8% | 32.8% | ||
| Q3 25 | -18.6% | 7.8% | ||
| Q2 25 | -1.3% | 12.9% | ||
| Q1 25 | 10.4% | 0.4% | ||
| Q4 24 | 4.8% | 4.6% | ||
| Q3 24 | -15.3% | 3.4% | ||
| Q2 24 | -3.3% | 4.1% | ||
| Q1 24 | 8.2% | 2.0% |
| Q4 25 | $-0.15 | $0.23 | ||
| Q3 25 | $-0.07 | $0.16 | ||
| Q2 25 | $-0.01 | $0.05 | ||
| Q1 25 | $0.08 | $-0.02 | ||
| Q4 24 | $0.01 | $0.09 | ||
| Q3 24 | $-0.05 | $0.03 | ||
| Q2 24 | $-0.03 | $0.04 | ||
| Q1 24 | $0.00 | $-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 | $100.9M | $242.1M |
| Total DebtLower is stronger | — | $428.4M |
| Stockholders' EquityBook value | $338.8M | $27.0M |
| Total Assets | $1.2B | $813.8M |
| Debt / EquityLower = less leverage | — | 15.87× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.9M | $242.1M | ||
| Q3 25 | $95.4M | $182.7M | ||
| Q2 25 | $156.4M | $136.3M | ||
| Q1 25 | $276.8M | $94.5M | ||
| Q4 24 | $194.8M | $89.5M | ||
| Q3 24 | $188.9M | $98.4M | ||
| Q2 24 | $193.2M | $73.9M | ||
| Q1 24 | $186.8M | $41.9M |
| Q4 25 | — | $428.4M | ||
| Q3 25 | — | $429.3M | ||
| Q2 25 | — | $430.2M | ||
| Q1 25 | — | $431.1M | ||
| Q4 24 | — | $432.0M | ||
| Q3 24 | — | $432.9M | ||
| Q2 24 | — | $433.8M | ||
| Q1 24 | — | $384.0M |
| Q4 25 | $338.8M | $27.0M | ||
| Q3 25 | $369.5M | $-7.4M | ||
| Q2 25 | $389.4M | $-12.3M | ||
| Q1 25 | $392.1M | $-28.3M | ||
| Q4 24 | $385.9M | $-27.6M | ||
| Q3 24 | $391.1M | $-31.9M | ||
| Q2 24 | $407.6M | $-28.5M | ||
| Q1 24 | $-90.7M | $-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 | $1.0B | $612.7M | ||
| Q3 24 | $1.1B | $575.0M | ||
| Q2 24 | $1.1B | $543.9M | ||
| Q1 24 | $1.1B | $497.3M |
| Q4 25 | — | 15.87× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $12.3M | $183.5M |
| Free Cash FlowOCF − Capex | $11.7M | $175.0M |
| FCF MarginFCF / Revenue | 8.8% | 98.8% |
| Capex IntensityCapex / Revenue | 0.5% | 4.8% |
| Cash ConversionOCF / Net Profit | — | 3.16× |
| TTM Free Cash FlowTrailing 4 quarters | $41.4M | $326.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.3M | $183.5M | ||
| Q3 25 | $1.8M | $79.8M | ||
| Q2 25 | $15.9M | $42.0M | ||
| Q1 25 | $12.6M | $33.3M | ||
| Q4 24 | $20.6M | $148.8M | ||
| Q3 24 | $9.1M | $69.0M | ||
| Q2 24 | $9.8M | $17.5M | ||
| Q1 24 | $7.3M | $24.2M |
| Q4 25 | $11.7M | $175.0M | ||
| Q3 25 | $1.5M | $78.3M | ||
| Q2 25 | $15.8M | $40.8M | ||
| Q1 25 | $12.4M | $32.1M | ||
| Q4 24 | $19.9M | $132.0M | ||
| Q3 24 | $9.0M | $62.2M | ||
| Q2 24 | $9.6M | $12.8M | ||
| Q1 24 | $7.0M | $20.0M |
| Q4 25 | 8.8% | 98.8% | ||
| Q3 25 | 1.9% | 58.0% | ||
| Q2 25 | 15.0% | 34.1% | ||
| Q1 25 | 8.4% | 25.5% | ||
| Q4 24 | 18.6% | 79.9% | ||
| Q3 24 | 12.4% | 50.6% | ||
| Q2 24 | 11.2% | 10.9% | ||
| Q1 24 | 5.2% | 18.4% |
| Q4 25 | 0.5% | 4.8% | ||
| Q3 25 | 0.4% | 1.1% | ||
| Q2 25 | 0.1% | 1.0% | ||
| Q1 25 | 0.1% | 0.9% | ||
| Q4 24 | 0.7% | 10.1% | ||
| Q3 24 | 0.1% | 5.5% | ||
| Q2 24 | 0.2% | 4.0% | ||
| Q1 24 | 0.2% | 3.9% |
| Q4 25 | — | 3.16× | ||
| Q3 25 | — | 7.61× | ||
| Q2 25 | — | 2.72× | ||
| Q1 25 | 0.82× | 71.84× | ||
| Q4 24 | 4.04× | 19.54× | ||
| Q3 24 | — | 16.60× | ||
| Q2 24 | — | 3.64× | ||
| Q1 24 | 0.66× | 11.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
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% |
