olivLaw · European equity research
Gaumont GAM.PA
France · Euronext Paris · ISIN FR0000034894 · Vertical: Listed companies from France
Gaumont is a film and television producer and distributor with a catalogue of more than 1,300 cinematographic works, operating in a fragmented market. The topic is timely because the line between free and paid distribution is blurring and artificial intelligence is shifting value towards intellectual property rights.
At the close of 05 Nov 2026, Gaumont (GAM.PA) stock was 101.00 EUR (−0.98% on the day), with market capitalisation 315.3 m EUR, beta 0.07, 52-week range 85.50–132.00 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 46.8
- neutral
- Bollinger (20, 2)
- 100.40 – 102.30
- in the lower half of the band · %B 0.32 · band width 1.9%
- SMA 50 / 200
- 101.46 / 102.41
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.19 / -0.24
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | 0.0% | −0.6% | +0.6 pp | — |
| 3 months | −2.9% | −4.2% | +1.3 pp | — |
| 6 months | −2.9% | +4.3% | −7.2 pp | — |
| Year to date | +1.5% | +7.5% | −6.0 pp | — |
| 1 year | +11.0% | +9.9% | +1.1 pp | −6.8% |
| 3 years | +4.1% | +49.8% | −45.7 pp | −15.9% |
| 5 years | −2.4% | +42.8% | −45.2 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 172.2 m | 150.1 m | 150.3 m |
| Revenue YoY | unavailable | −12.8% | +0.1% |
| Net income | -3.7 m | -7.7 m | -19.5 m |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | -1.18 | -2.45 | -6.24 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | -2.1% | -5.1% | -13.0% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 64.4 m EUR
- Financial debt
- unavailable EUR
- Net debt
- unavailable EUR
- Equity
- 165.1 m EUR
- Total assets
- 353.9 m EUR
- Debt / equity
- unavailable
- Current ratio
- 1.02x
- ROE
- -11.2%
- ROA
- -5.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 172.2 m | 150.1 m | 150.3 m | esef· 09 Apr 2026verified |
| Operating income | -2.5 m | -9.5 m | -19.0 m | esef· 09 Apr 2026verified |
| Pre-tax income | -3.1 m | -8.4 m | -19.8 m | esef· 09 Apr 2026verified |
| Income tax | 267.0 k | -694.0 k | -200.0 k | esef· 09 Apr 2026verified |
| Net income | -3.7 m | -7.7 m | -19.5 m | esef· 09 Apr 2026verified |
| Diluted EPS | -1.18 | -2.45 | -6.24 | esef· 09 Apr 2026verified |
| Weighted average diluted shares | 3.1 m | 3.1 m | 3.1 m | esef· 09 Apr 2026verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 106.9 m | 87.8 m | 64.4 m | esef· 09 Apr 2026verified |
| Inventories | 287.0 k | 294.0 k | 391.0 k | esef· 09 Apr 2026verified |
| Current assets | 235.7 m | 182.5 m | 172.5 m | esef· 09 Apr 2026verified |
| Goodwill | 12.0 m | 12.0 m | 5.0 m | esef· 09 Apr 2026verified |
| Total assets | 399.6 m | 376.7 m | 353.9 m | esef· 09 Apr 2026verified |
| Current liabilities | 158.3 m | 159.9 m | 169.7 m | esef· 09 Apr 2026verified |
| Equity | 193.9 m | 184.5 m | 165.1 m | esef· 09 Apr 2026verified |
| Shares outstanding at year end | 3.1 m | 3.1 m | 3.1 m | esef· 09 Apr 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 2 of at least 6
- score weight coverage: 10.4% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 315.3 m EUR
Key indicators
Coverage and freshness
Score by group
10% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 2 of at least 6; score weight coverage: 10.4% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -13.0% | 26 (vs peers) | 60% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.0x | 18 (on a fixed band) | 40% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial18/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial26/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
GAUMONT (GAM.PA). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 150.3 m EUR in 2025; YoY growth 0.1%; net margin -13.0%; ROE -11.2%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 2 of at least 6; score weight coverage: 10.4% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: -13.0%
- Current ratio: 1.0x
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from France · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AI.PAL'air Liquide Societe Anonyme Pour L'etude Et L'exploitation Des Procedes Georges Claude | 109.3 bn | 33.2 | 12.9% | 12.2% | −2.0% | +26% / +32% |
| AC.PAAccor | 13.8 bn | 30.7 | 9.6% | 8.0% | +0.6% | +6% / +56% |
| ADP.PAAeroports De Paris | 11.7 bn | 34.1 | 7.8% | 5.6% | +12.1% | −7% / +4% |
| AKE.PAArkema | 7.1 bn | 115.4 | 0.9% | 0.7% | −5.0% | +12% / −37% |
| ALO.PAAlstom | 5.8 bn | 18.3 | 3.1% | 1.7% | +3.7% | −51% / −4% |
| AF.PAAir France - Klm | 4.3 bn | 13.6 | — | 1.0% | +4.8% | +20% / +9% |
| ATE.PAAlten | 3.1 bn | 29.5 | 4.8% | 2.6% | −1.1% | +33% / −29% |
| BB.PASociete Bic | 2.7 bn | 31.3 | 5.0% | 4.1% | −4.8% | +32% / +5% |
| ANTIN.PAAntin Infrastructure Partners | 1.4 bn | 13.0 | 21.9% | 36.6% | −8.1% | −24% / −35% |
| 74SW.PA74software | 792.7 m | 20.9 | 8.9% | 8.5% | +44.8% | −13% / +41% |
| AUB.PAAubay | 667.4 m | 17.8 | 13.6% | 6.3% | +11.3% | +3% / +45% |
| ASY.PAAssystem | 507.1 m | 69.9 | 2.5% | 1.1% | +7.4% | −19% / −18% |
| ATO.PAAtos Se | 483.0 m | — | -23,400.0% | -17.5% | −16.5% | −45% / −94% |
| GAM.PAGaumont | 315.3 m | — | -11.2% | -13.0% | +0.1% | +11% / +4% |
| ARAMI.PAAramis Group | 298.8 m | 15.0 | 10.0% | 0.8% | +6.3% | −33% / −16% |
| ARVEN.PAArverne Group | 246.1 m | — | -14.0% | -115.3% | +27.0% | +20% / −35% |
| BGO.PACompagnie Chargeurs Invest | 189.4 m | — | -8.6% | -5.7% | −2.9% | unavailable / unavailable |
| ALCIS.PACatering International & Services | 145.0 m | 28.4 | 9.3% | 1.9% | +5.8% | +39% / +107% |
| ALCGM.PACegedim | 144.6 m | — | -2.6% | -1.2% | +10.9% | −26% / −49% |
| ATEME.PAAteme | 144.0 m | 151.3 | 2.8% | 1.0% | +2.2% | +82% / +77% |
| ALHEX.PAHexaom | 144.0 m | 6.7 | 9.9% | 2.2% | +13.1% | −32% / +7% |
| ALBON.PACompagnie Lebon | 111.7 m | 16.5 | 4.2% | 8.8% | −17.9% | +6% / +8% |
| ALHYF.PALhyfe | 75.8 m | — | -33.4% | -570.5% | +287.2% | unavailable / unavailable |
| ALFER.PASergeferrari Group | 61.5 m | 11.5 | 5.1% | 1.5% | +7.4% | −33% / −27% |
| ABEO.PAAbeo | 60.8 m | 7.3 | 6.9% | 3.0% | +12.6% | −13% / −54% |
1- and 3-year price returns: for GAM.PA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Gaumont is a film and television producer and distributor with a catalogue of more than 1,300 cinematographic works, operating in a fragmented market. The topic is timely because the line between free and paid distribution is blurring and artificial intelligence is shifting value towards intellectual property rights 1.
SWOT
Strengths
- The catalogue of works and original rights provides a long-term revenue base, and its depth is an advantage over new platforms 1.
- Production experience and budget control through specialised roles reduce the risk of cost overruns 1.
- A presence across several branches in France, Europe and the United States allows diversification of projects and partners 1.
Weaknesses
Opportunities
- Hyper-distribution could open new exploitation channels for an extensive catalogue if rights are well negotiated 1.
- Artificial intelligence could bring productivity gains in development, production and post-production 1.
- Platforms seek producers with proven skills, which could generate new commissions for the group 1.
Threats
Risks
- Market saturationhigh
Content supply keeps growing and broadcasters are becoming more selective, which may make it harder to win commissions 1.
- Transformation of the audiovisual modelhigh
Hyper-distribution blurs the line between free and paid channels and could reduce the value of rights 1.
- Artificial intelligencemedium
The technology may change the cost structure and competitive landscape, and protecting copyright becomes essential 1.
- Production delays and cost overrunsmedium
Production is exposed to delays and cost overruns, which can affect project margins 1.
- Changes to public supportmedium
Changes to the tax credit and subsidy regime could affect producers' financing 1.
Investment thesis
What would need to be true (bull case)
- An extensive catalogue of works and original rights could support long-term exploitation revenue, especially if hyper-distribution increases access to content 1.
- If artificial intelligence reduces development and post-production costs, the group could produce more efficiently 1.
- Production experience and risk control could attract new partners, including platforms seeking producers with proven skills 1.
What would break the thesis
What to watch
- Trends in negotiating conditions for long-term catalogue rights2026
- Outcomes of the AI Committee and pace of AI tool integration in production2026
- Changes to public support schemes and production tax credits2026
- Number of new commissions from platforms and traditional broadcastersnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Gaumont produces and distributes films and audiovisual programmes, relying on a catalogue of roughly 2,600 hours of programmes, of which more than 1,300 are cinematographic works 1. The group's strategy rests on the depth of its catalogue and on the development of original rights, which it secures contractually as to the terms of broadcast. It operates in France, Europe and the United States across all its business branches 1.
As a producer, Gaumont controls its projects through specialised roles, from the executive producer to production controllers, to limit delays and cost overruns 1. As a distributor, the group keeps its catalogue updated to meet current technical standards 1. Its economic model depends on the ability to exploit works across their entire lifecycle.
Management has launched a cross-functional AI Committee reporting to the executive committee, which monitors technologies, assesses operational, economic and legal impacts, and oversees compliance with ethical and regulatory frameworks 1. This shows the group treats artificial intelligence as a governance question, not only a technical tool.
Segments
Film production and distribution
Gaumont produces feature films and distributes them, and cinema is one of the two main components of its activity 1. The timing of cinema releases matters for financing, since a theatrical release conditions the 'feature film' qualification and access to support funds 1.
Audiovisual production for television and platforms
Gaumont also produces series and programmes for linear channels and streaming platforms, adapting the localisation of projects for linear clients and offering producer expertise to platforms 1. The project range includes original works and co-productions, and the group is moving towards a more selective choice of projects 1.
Market context
The audiovisual market is highly competitive because content supply keeps growing, and more than 700 films are released in French cinemas each year 1. Broadcasters and platforms, meanwhile, are becoming more selective and tightly control their productions, which makes financing harder to secure 1.
The hyper-distribution model combines paid, advertising-funded and linear broadcast content in a single environment, which erodes the distinction between free and paid channels 1. If this trend deepens, the prices of long-term rights could fall and negotiating conditions could tighten 1.
Trends
- Hyper-distribution of contentmixed
Platforms aggregate paid, advertising and linear offers, turning linear broadcast into an entry point to permanently available content 1. For producers this widens the market but also puts pressure on the value of works and on prices 1.
- Generative artificial intelligencemixed
AI lowers entry barriers and could reduce production costs, which favours new competitors 1. Value, however, is shifting towards holding and controlling rights, and a well-protected catalogue could become an advantage 1.
- Funding squeeze at traditional broadcastersheadwind
The investment capacity of traditional broadcasters is declining, while platforms are growing more demanding on budgets and commissions 1. Producers are therefore having to diversify their partners 1.
- Regulation and public supportmixed
In most countries the industry benefits from tax credits and subsidies that support producers' financing 1. Changes to these rules can directly affect the capacity to finance projects 1.
Competitive position
Competition comes from numerous producers, distributors and streaming platforms that vie for the same creators and commissions 1. Global platforms such as Netflix, Disney and Amazon compete for original productions and content rights 1. Gaumont differentiates itself through the depth of its catalogue and control over its rights 1.
- NetflixNFLX
Streaming platform investing heavily in original productions and holding a large share of non-linear audiences, a direct competitor for audience attention and talent.
- DisneyDIS
Media group with streaming platforms and its own studios, competing for cinematographic content and for sports and entertainment rights.
- Amazon Prime VideoAMZN
Streaming service integrated into a broader commercial ecosystem, acquiring sports rights and producing series and comedies for French audiences.
- Canal+
French audiovisual group with linear channels and platforms, competing for rights and audiences in the local market.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202509 Apr 2026
- Annual report 202415 Apr 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Gaumont · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.