NEW GERMANY FUND INC (GF)
The New Germany Fund Inc. functions as a closed-ended equity investment vehicle, originally established by Deutsche Investment Management Americas Inc. and currently overseen by Deutsche Asset Management International GmbH. Its primary objective is to allocate capital within the public stock markets of Germany, seeking out opportunities in shares of companies operating across a diverse range of industries. The fund predominantly focuses its investments on small and mid-capitalization (SMC) firms. To assess its portfolio's returns, the fund utilizes the Midcap Market Performance Index as its benchmark. This fund was founded on January 16, 1990, and is legally registered in Germany.
Industry: Asset Management
The New Germany Fund, Inc.
NYSE:GFFinancial Services · Asset Management
-0.78%$10.18
AH Close$10.18+0.00%vs close
AH Close$10.18+0.00%vs close
Mkt Cap$165.23M
Float16.22M
O/S16.23M
Inst Own67.3%
Div Yield2.79%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$3.14M
Net Income$55.54M
Total Assets$235.14M
Free Cash Flow$0
Debt & Equity
Debt 12%
Equity 88%
Total Debt$27.1M
Total Equity$205.52M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in GF's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$235.14M
Liabilities$29.63M
Accounts Receivable$1.03M
Accounts Payable$2.1M
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Revenue | $3.14M | $3.24M | $3.58M | -$3.45M | $92.6M | $48.12M | $80.19M | -$66.54M | $116.87M | $4.86M | $5.15M | $6.75M | $7.13M | $7.08M |
| YoY Growth | -3.3% | -9.3% | -203.7% | -103.7% | 92.4% | -40.0% | -220.5% | -156.9% | 2305.3% | -5.7% | -23.6% | -5.3% | 0.7% | - |
| Cost of Revenue | $1.92M | $0 | $0 | $1.86M | $3.2M | $2.63M | $2.43M | $3.06M | $2.76M | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $1.22M | $3.24M | $3.58M | -$5.3M | $89.4M | $45.49M | $77.76M | -$69.59M | $114.11M | $4.86M | $5.15M | $6.75M | $7.13M | $7.08M |
| Gross Margin | 38.9% | 100.0% | 100.0% | 153.9% | 96.5% | 94.5% | 97.0% | 104.6% | 97.6% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $31 | $0 | $0 | $7 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $1.23M | $2.26M | $2.43M | $1.33M | $1.65M | $1.33M | $1.25M | $1.63M | $1.46M | $2.99M | $3.08M | $3.5M | $3.69M | $3.19M |
| Other | -$55.32M | $0 | $0 | -$31 | $0 | $1.87M | -$7 | $16K | $15K | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | -$54.09M | $2.26M | $2.43M | $1.33M | $1.65M | $3.2M | $1.25M | $1.63M | $1.46M | $5.52M | $29.47M | $30.64M | $120.44M | $63.17M |
| Operating Income (EBIT) | $55.31M | $980K | $1.14M | -$106.36M | $9.19M | -$425K | $78.94M | -$68.17M | $115.41M | $1.87M | $2.07M | $3.25M | $3.44M | $3.89M |
| Operating Margin | 1763.5% | 30.2% | 32.0% | 3086.3% | 9.9% | -0.9% | 98.4% | 102.4% | 98.7% | 38.5% | 40.2% | 48.1% | 48.3% | 55.0% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $3.71M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $234K | -$21.19M | $22.89M | $3K | -$3K | $97.49M | $0 | $0 | $107.42M | -$2.53M | $32.55M | -$27.13M | $124.12M | $66.36M |
| Income Before Tax (EBT) | $55.54M | -$20.21M | $24.03M | -$106.36M | $9.19M | $97.49M | $78.94M | -$68.17M | $115.41M | -$664K | $34.63M | -$23.89M | $127.57M | $70.26M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$161K | $8.17M | $0 | $0 | $0 | $0 | $0 |
| Net Income | $55.54M | -$20.21M | $24.03M | -$106.36M | $9.19M | $97.49M | $78.94M | -$68.17M | $115.41M | -$664K | $34.63M | -$23.89M | $127.57M | $70.26M |
| Net Income Margin | 1771.0% | -623.1% | 672.2% | 3086.3% | 9.9% | 202.6% | 98.4% | 102.4% | 98.7% | -13.7% | 671.7% | -353.8% | 1788.8% | 991.7% |
| Supplementary Data | ||||||||||||||
| EPS | 3.43 | -1.25 | 1.39 | -6.40 | 0.59 | 6.28 | 4.99 | -4.38 | 7.27 | -0.04 | 2.17 | -1.60 | 8.55 | 4.37 |
| Diluted EPS | 3.43 | -1.25 | 1.39 | -6.40 | 0.59 | 6.28 | 4.99 | -4.35 | 7.27 | -0.04 | 2.17 | -1.60 | 8.55 | 4.37 |
| Weighted Average OS | 16.18M | 16.18M | 17.29M | 16.62M | 15.53M | 15.52M | 15.82M | 15.56M | 15.80M | 15.75M | 15.92M | 14.91M | 14.93M | 16.09M |
| EBITDA | $55.54M | $980K | $23.99M | -$106.37M | $9.75M | $97.81M | $78.95M | -$68.07M | $0 | $1.87M | $2.07M | $3.25M | $3.44M | $0 |
| EBITDA Margin | 1771.0% | 30.2% | 671.2% | 3086.4% | 10.5% | 203.3% | 98.5% | 102.3% | - | 38.5% | 40.2% | 48.1% | 48.3% | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $2.69M | $206K | $92K | $16K | $267K | $4.57M | $2.06M | $8K | $101K | $9K | $241K | $527K | $2.83M | $6.04M |
| Short-Term Investments | $27.1M | $0 | $0 | $0 | $0 | $14.47M | $9.94M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $29.79M | $206K | $92K | $16K | $267K | $19.04M | $12M | $8K | $101K | $9K | $241K | $527K | $2.83M | $6.04M |
| Accounts Receivable | $1.03M | $15K | $7K | $10K | $19K | $378K | $20K | $68K | $4K | $10K | $12K | $7K | $2.56M | $9K |
| Inventory | $0 | $0 | $0 | $2.49M | $311K | $0 | $40K | $674K | $26K | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $27K | $577K | $5.35M | -$2.51M | -$578K | -$19.04M | -$12.04M | $13.88M | $2.12M | $15.41M | $12.17M | $3.84M | $7.3M | $6.33M |
| Total Current Assets | $30.85M | $798K | $5.45M | $10K | $19K | $378K | $20K | $76K | $4K | $15.43M | $12.42M | $4.38M | $12.69M | $12.37M |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $204.24M | $160.3M | $184.98M | $162.17M | $337.6M | $385.02M | $298.53M | $269.67M | $353.86M | $234.25M | $260.2M | $277.38M | $374.89M | $279.34M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $57K | $0 | $0 | $0 | $0 | $0 | $0 | -$269.67M | -$353.86M | $14.63M | $11.41M | $3.55M | $6.87M | -$279.34M |
| Total Long-Term Assets | $204.29M | $160.3M | $184.98M | $162.17M | $337.6M | $385.02M | $298.53M | $269.67M | $353.86M | $248.88M | $271.6M | $280.93M | $381.76M | $279.34M |
| Other Assets | $0 | $44K | -$9.9M | $310K | $334K | $66K | $24K | $525K | $70K | $0 | $0 | $0 | $0 | $6.04M |
| Total Assets | $235.14M | $161.14M | $185.38M | $162.49M | $337.95M | $385.47M | $298.57M | $270.27M | $353.94M | $264.31M | $284.03M | $285.31M | $394.45M | $297.75M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $2.1M | $820K | $8K | $750K | $76.39M | $32.73M | $3.23M | $45.76M | $11.75M | $0 | $0 | $0 | $2.79M | $0 |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $145K | $0 | $0 | $0 | $0 | $20K | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $32.59M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | -$7.78M | $6.02M | $1.13M | $4.12M | -$47.55M | -$10M | -$59.46M | -$14.1M | $27.76M | $25.79M | $56.41M | $74.1M | $16.91M |
| Total Current Liabilities | $29.46M | $820K | $6.03M | $750K | $80.51M | $32.73M | $3.23M | $45.76M | $11.75M | $28.13M | $26.2M | $56.89M | $77.39M | $16.91M |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $27.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $2.53M | $7.94M | $57K | $46K | $0 | $237K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $29.63M | $7.94M | $57K | $46K | $189K | $237K | $13.4M | $59.69M | $14.31M | $0 | $0 | $0 | $0 | $0 |
| Other Liabilities | $0 | $8.76M | $510K | -$367K | -$80.51M | -$32.59M | -$3.23M | -$45.76M | -$11.75M | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $29.63M | $8.76M | $6.59M | $1.13M | $80.51M | $47.86M | $13.4M | $59.69M | $14.31M | $28.13M | $26.2M | $56.89M | $77.39M | $17.03M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $189.71M | $189.71M | $194.74M | $200.15M | $176.71M | $175.07M | $182.05M | $178.1M | $181.94M | $181.81M | $187.63M | $173.25M | $172.91M | $426.74M |
| Retained Earnings | $15.81M | -$37.33M | -$15.95M | -$38.8M | $80.73M | $162.54M | $103.13M | $32.49M | $2.53M | $54.03M | $70.2M | $55.17M | $144.15M | $83.41M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $103.13M | -$0 | $155.16M | $0 | -$0 | -$0 | $0 | $0 |
| Other Stockholders' Equity | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $155.16M | $0 | $0 | $0 | $0 | -$229.42M |
| Total Equity | $205.52M | $152.38M | $178.79M | $161.36M | $257.45M | $337.61M | $285.18M | $210.59M | $339.62M | $235.84M | $257.82M | $228.41M | $317.06M | $280.72M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $235.14M | $161.14M | $185.38M | $162.49M | $337.95M | $385.47M | $298.57M | $270.27M | $353.94M | $263.97M | $284.02M | $285.31M | $394.45M | $297.75M |
| Supplementary Data | ||||||||||||||
| Total Debt | $27.1M | $7.65M | $0 | $0 | $0 | $145K | $0 | $0 | $0 | $0 | $20K | $0 | $0 | $0 |
| Net Debt | $24.41M | -$206K | -$92K | -$16K | -$267K | -$4.43M | -$2.06M | -$8K | -$101K | -$9K | -$221K | -$527K | -$2.83M | -$6.04M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 |
| Operating Activities | ||||||||||||||
| Net Income | $55.54M | -$20.21M | $24.03M | -$106.36M | $9.19M | $97.49M | $78.94M | -$68.17M | $115.41M | -$664K | $34.63M | -$23.89M | $127.57M | $70.26M |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $559K | $425K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Working Capital Change | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Non-Cash Items | -$55.54M | $20.21M | -$24.03M | $106.36M | -$9.75M | -$97.92M | -$78.94M | $68.17M | -$115.41M | $664K | -$34.63M | $23.89M | -$127.57M | -$70.26M |
| Net Cash from Operating | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Investing Activities | ||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | ||||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $0 | $0 | $0 | -$6.88M | $4.53M | $2.51M | $1.95M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash at Beginning | $0 | $0 | $0 | $9.1M | $4.57M | $2.06M | $108K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash at End | $0 | $0 | $0 | $2.22M | $9.1M | $4.57M | $2.06M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |