A thermodynamic modeling and optimization is carried out to compare the advantages and disadvantages of organic Rankine cycle (ORC) and Kalina cycle (KC) as a bottoming cycle for waste heat recovery from CGAM cogeneration system. Thermodynamic models for combined CGAM/ORC and CGAM/KC systems are performed and the effects of some decision variables on the energy and exergy efficiency and turbine size parameter of the combined systems are investigated. Solving simulation equations and optimization process have been done using direct search method by EES software. It is observed that at the optimum pressure ratio of air compressor, produced power of bottoming cycles has minimum values. Also, evaporator pressure optimizes the performance of cycle, but this optimum pressure level in ORC (11 bar) is much lower than that of Kalina (46 bar). In addition, ORC's simpler configuration, higher net produced power and superheated turbine outlet flow, which leads to a reliable performance for turbine, are other advantages of ORC. Kalina turbine size parameter is lower than that of the ORC which is a positive aspect of Kalina cycle. However, by a comprehensive comparison between Kalina and ORC, it is concluded that the ORC has significant privileges for waste heat recovery in this case.