General Motors (GM) Financials

$77.28 +1.14 (+1.49%)

Closing price 05/21/2026 03:59 PM Eastern

Extended Trading

$77.11 -0.17 (-0.22%)

As of 05/21/2026 07:58 PM Eastern

Annual Income Statements for General Motors

This table shows General Motors' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	9,687	9,427	-3,864	8,014	6,732	6,427	10,019	9,934	10,127	6,008	2,697
Consolidated Net Income / (Loss)	9,615	9,268	-3,882	8,005	6,667	6,321	9,945	9,708	9,840	5,963	2,780
Net Income / (Loss) Continuing Operations	9,590	9,269	330	8,075	6,667	6,321	9,945	9,709	9,840	5,963	2,779
Total Pre-Tax Income	8,371	12,008	11,863	8,549	7,436	8,095	12,716	11,597	10,403	8,519	3,117
Total Operating Income	5,538	8,686	8,661	4,445	5,481	6,634	9,324	10,314	9,298	12,784	2,909
Total Gross Profit	17,426	27,400	29,359	26,393	26,586	24,946	26,460	29,843	30,512	36,377	25,891
Total Revenue	135,725	149,184	145,588	147,049	137,237	122,485	127,004	156,735	171,842	187,442	185,019
Operating Revenue	135,725	149,184	145,588	147,049	137,237	122,485	127,004	156,735	171,842	187,442	185,019
Total Cost of Revenue	118,299	121,784	116,229	120,656	110,651	97,539	100,544	126,892	141,330	151,065	159,128
Operating Cost of Revenue	118,299	121,784	116,229	120,656	110,651	97,539	100,544	126,892	141,330	151,065	159,128
Total Operating Expenses	11,888	18,714	20,698	21,948	21,105	18,312	17,136	19,529	21,214	23,593	22,982
Selling, General & Admin Expense	11,888	10,345	20,698	21,948	21,105	18,312	17,136	19,529	21,214	23,593	22,982
Total Other Income / (Expense), net	2,833	3,322	3,202	4,104	1,955	1,461	3,392	1,282	1,106	-4,264	208
Interest Expense	-26	-	575	655	782	1,098	950	987	911	846	727
Interest & Investment Income	2,193	1,719	2,132	2,163	-	674	1,301	837	480	-4,675	-600
Other Income / (Expense), net	614	1,603	1,645	2,596	2,737	1,885	3,041	1,432	1,537	1,257	1,535
Income Tax Expense	-1,219	2,739	11,533	474	769	1,774	2,771	1,888	563	2,556	338
Net Income / (Loss) Attributable to Noncontrolling Interest	-72	-159	-18	-9.00	-65	-106	-74	-226	-287	-45	83
Basic Earnings per Share	$6.11	$6.12	($2.65)	$5.61	$4.62	$4.36	$6.78	$6.17	$7.35	$6.45	$3.33
Weighted Average Basic Shares Outstanding	1.59B	1.54B	1.47B	1.41B	1.42B	1.43B	1.45B	1.45B	1.36B	1.12B	955M
Diluted Earnings per Share	$5.91	$6.00	($2.60)	$5.53	$4.57	$4.33	$6.70	$6.13	$7.32	$6.37	$3.27
Weighted Average Diluted Shares Outstanding	1.64B	1.57B	1.49B	1.43B	1.44B	1.44B	1.47B	1.45B	1.37B	1.13B	973M
Weighted Average Basic & Diluted Shares Outstanding	1.59B	1.54B	1.46B	1.43B	1.43B	1.44B	1.45B	1.39B	1.15B	995.00M	903.97M
Cash Dividends to Common per Share	$1.38	$1.52	$1.52	$1.52	$1.52	$0.38	-	$0.18	$0.36	$0.48	$0.57

This table shows General Motors' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	3,064	2,102	2,980	2,933	3,056	-2,961	2,784	1,895	1,327	-3,309	2,627
Consolidated Net Income / (Loss)	2,994	1,993	2,953	2,877	3,008	-2,875	2,853	1,894	1,293	-3,260	2,705
Net Income / (Loss) Continuing Operations	2,994	1,992	2,953	2,876	3,008	-2,874	2,853	1,894	1,292	-3,260	2,705
Total Pre-Tax Income	3,464	1,135	3,715	3,643	3,717	-2,556	3,572	2,375	1,419	-4,249	3,347
Total Operating Income	3,013	918	3,738	3,873	3,651	1,522	3,352	2,127	1,076	-3,646	2,926
Total Gross Profit	8,289	6,370	9,018	9,354	9,749	8,257	8,829	7,833	6,655	2,574	8,596
Total Revenue	44,131	42,979	43,014	47,969	48,756	47,704	44,020	47,122	48,591	45,286	43,624
Operating Revenue	44,131	42,979	43,014	47,968	48,756	47,704	44,020	47,122	48,591	45,286	43,624
Total Cost of Revenue	35,842	36,609	33,996	38,615	39,007	39,447	35,191	39,289	41,936	42,712	35,028
Operating Cost of Revenue	35,842	36,609	33,996	38,615	39,007	39,447	35,191	39,289	41,936	42,712	35,028
Total Operating Expenses	5,277	5,452	5,281	5,481	6,098	6,733	5,476	5,706	5,579	6,221	5,670
Selling, General & Admin Expense	5,277	5,452	5,281	5,481	6,098	6,733	5,476	5,706	5,579	6,221	5,670
Total Other Income / (Expense), net	453	238	-22	-230	66	-4,078	220	248	343	-603	421
Interest Expense	-	-	219	206	206	215	152	198	209	168	158
Interest & Investment Income	-	-	-105	-84	-122	-4,364	62	80	77	-819	272
Other Income / (Expense), net	453	317	302	60	394	501	310	366	475	384	307
Income Tax Expense	470	-857	762	767	709	318	719	481	127	-989	642
Net Income / (Loss) Attributable to Noncontrolling Interest	-70	-109	-27	-57	-48	87	69	-1.00	-35	50	78
Basic Earnings per Share	$2.21	$1.61	$2.57	$2.57	$2.71	($1.40)	$3.40	$1.94	$1.37	($3.38)	$2.87
Weighted Average Basic Shares Outstanding	1.37B	1.36B	1.16B	1.14B	1.12B	1.12B	988M	963M	944M	955M	911M
Diluted Earnings per Share	$2.20	$1.60	$2.56	$2.55	$2.68	($1.42)	$3.35	$1.91	$1.35	($3.34)	$2.82
Weighted Average Diluted Shares Outstanding	1.38B	1.37B	1.16B	1.15B	1.13B	1.13B	1.00B	976M	964M	973M	926M
Weighted Average Basic & Diluted Shares Outstanding	1.37B	1.15B	1.14B	1.12B	1.10B	995.00M	961.43M	952.08M	932.86M	903.97M	901.67M
Cash Dividends to Common per Share	$0.09	-	$0.12	$0.12	-	-	$0.12	$0.15	-	-	$0.18

This table details how cash moves in and out of General Motors' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-3,857	-2,172	2,688	5,648	-553	174	425	-1,594	-31	1,047	1,320
Net Cash From Operating Activities	11,769	16,607	17,328	15,256	15,021	16,670	15,188	16,043	20,930	20,129	26,867
Net Cash From Continuing Operating Activities	12,610	16,993	17,338	15,256	15,021	16,670	15,188	16,042	20,930	20,126	26,867
Net Income / (Loss) Continuing Operations	9,590	9,269	330	8,075	6,667	6,321	9,945	9,708	9,840	5,963	2,780
Consolidated Net Income / (Loss)	9,590	9,269	330	8,075	6,667	6,321	9,945	9,708	9,840	5,963	2,780
Depreciation Expense	7,487	9,819	12,261	13,669	14,118	12,815	12,051	11,290	11,888	12,389	14,588
Non-Cash Adjustments To Reconcile Net Income	-843	-4,009	-2,650	-3,322	-969	-889	-2,977	-1,614	-416	2,368	1,638
Changes in Operating Assets and Liabilities, net	-3,624	1,914	7,397	-3,166	-4,795	-1,577	-3,831	-3,342	-382	-594	7,861
Net Cash From Investing Activities	-27,710	-35,643	-27,572	-20,763	-10,899	-21,826	-16,355	-17,882	-14,663	-20,517	-16,134
Net Cash From Continuing Investing Activities	-26,208	-34,147	-24,072	-20,929	-10,899	-21,826	-16,355	-17,882	-14,663	-20,517	-16,134
Purchase of Property, Plant & Equipment	-21,909	-27,879	-27,633	-25,497	-23,996	-20,533	-22,111	-21,187	-24,610	-26,109	-25,096
Purchase of Investments	-23,251	-29,822	-24,828	-28,491	-28,613	-46,294	-41,971	-45,811	-39,808	-40,334	-39,084
Sale and/or Maturity of Investments	11,316	14,297	15,674	15,972	19,567	25,340	23,740	22,291	22,378	15,223	15,112
Other Investing Activities, net	8,563	10,061	12,715	17,087	22,143	19,661	23,987	26,825	27,377	30,703	32,934
Net Cash From Financing Activities	13,608	17,077	12,584	11,454	-4,677	5,552	1,744	383	-6,353	1,938	-9,590
Net Cash From Continuing Financing Activities	12,096	15,996	12,410	11,454	-4,677	5,552	1,744	384	-6,354	1,939	-9,590
Repayment of Debt	-13,689	-21,172	-34,037	-34,153	-39,721	-72,708	-45,106	-40,411	-45,605	-43,678	-46,083
Repurchase of Preferred Equity	-	-	-	-	-	0.00	0.00	-2,121	0.00	-101	-29
Repurchase of Common Equity	-3,520	-2,500	-4,492	-	-	-90	0.00	-2,500	-11,115	-7,064	-6,012
Payment of Dividends	-2,242	-2,368	-2,233	-2,242	-2,350	-669	-186	-397	-597	-653	-657
Issuance of Debt	31,547	42,036	52,187	44,987	36,937	78,527	45,300	45,813	50,963	53,435	43,191
Effect of Exchange Rate Changes	-1,524	-213	348	-299	2.00	-222	-152	-138	54	-503	177

This table details how cash moves in and out of General Motors' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	2,225	-7,061	-539	4,241	1,096	-3,751	1,078	1,758	410	-1,926	-221
Net Cash From Operating Activities	6,596	3,657	3,152	5,976	6,861	4,140	6,061	6,908	7,103	6,795	2,950
Net Cash From Continuing Operating Activities	6,596	3,657	3,153	5,975	6,861	4,137	6,061	6,907	7,105	6,794	2,951
Net Income / (Loss) Continuing Operations	2,993	1,994	2,953	2,877	3,007	-2,874	2,853	1,894	1,293	-3,260	2,705
Consolidated Net Income / (Loss)	2,993	1,994	2,953	2,877	3,007	-2,874	2,853	1,894	1,293	-3,260	2,705
Depreciation Expense	2,992	3,150	2,798	3,486	2,872	3,233	2,934	3,041	4,112	4,501	3,030
Non-Cash Adjustments To Reconcile Net Income	-502	244	-231	-418	-631	3,648	442	126	-297	1,367	-550
Changes in Operating Assets and Liabilities, net	1,113	-1,731	-2,367	30	1,613	130	-168	1,846	1,997	4,186	-2,234
Net Cash From Investing Activities	-5,276	-2,563	-3,914	-5,073	-5,017	-6,513	-4,490	-6,668	-1,315	-3,661	632
Net Cash From Continuing Investing Activities	-5,276	-2,562	-3,914	-5,074	-5,015	-6,514	-4,491	-6,667	-1,314	-3,662	632
Purchase of Property, Plant & Equipment	-5,994	-7,099	-6,219	-6,622	-5,999	-7,269	-6,028	-6,516	-6,148	-6,404	-4,786
Purchase of Investments	-10,632	-8,639	-8,927	-9,944	-10,460	-11,003	-10,703	-9,820	-9,513	-9,048	-9,141
Sale and/or Maturity of Investments	4,458	5,843	3,830	3,862	3,692	3,839	3,594	3,451	5,138	2,929	5,365
Other Investing Activities, net	6,892	7,333	7,402	7,630	7,752	7,919	8,646	6,218	9,209	8,861	9,194
Net Cash From Financing Activities	983	-8,179	300	3,493	-830	-1,025	-543	1,242	-5,290	-4,999	-3,689
Net Cash From Continuing Financing Activities	983	-8,180	301	3,491	-829	-1,024	-543	1,242	-5,289	-5,000	-3,689
Repayment of Debt	-9,707	-11,686	-13,528	-10,370	-8,398	-11,382	-15,224	-12,385	-10,043	-8,431	-11,042
Repurchase of Preferred Equity	-	-	0.00	-	-	-	-29	-	-	-	0.00
Repurchase of Common Equity	-250	-9,996	-280	-1,066	-1,032	-4,686	-2,012	-	-1,500	-2,500	-800
Payment of Dividends	-182	-104	-198	-136	-192	-127	-175	-144	-200	-138	-223
Issuance of Debt	11,122	13,606	14,307	15,063	8,793	15,272	16,897	13,771	6,454	6,069	8,376
Effect of Exchange Rate Changes	-77	23	-78	-153	80	-352	51	276	-90	-60	-113

This table presents General Motors' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	194,338	212,694	203,409	227,339	228,037	235,194	244,718	264,037	273,064	279,761	281,284
Total Current Assets	69,408	76,203	68,744	75,293	74,992	80,924	82,103	100,451	101,618	108,545	108,767
Cash & Equivalents	15,238	12,574	15,512	20,844	19,069	19,992	20,067	19,153	18,853	19,872	20,945
Short-Term Investments	8,163	11,841	8,313	5,966	4,174	9,046	8,609	12,150	7,613	7,265	6,724
Note & Lease Receivable	26,388	24,827	28,685	33,399	26,601	26,209	26,649	33,623	39,076	46,362	45,266
Accounts Receivable	-	-	-	-	6,797	8,035	7,394	13,333	12,378	12,827	13,054
Inventories, net	16,547	12,150	11,769	9,816	10,398	10,235	12,988	15,366	16,461	14,564	14,467
Other Current Assets	3,072	3,633	4,465	5,268	7,953	7,407	6,396	6,825	7,238	7,655	8,312
Plant, Property, & Equipment, net	51,401	66,945	79,135	82,317	80,805	77,451	41,115	32,701	30,582	31,586	33,686
Total Noncurrent Assets	73,529	69,546	55,530	69,729	72,240	76,819	121,500	130,885	140,864	139,631	138,830
Long-Term Investments	9,201	-	-	9,215	8,562	8,406	9,677	10,176	10,613	7,102	5,681
Noncurrent Note & Lease Receivables	18,500	17,001	21,208	25,083	26,355	31,783	74,096	40,591	45,043	46,474	44,384
Goodwill	5,947	6,149	5,849	5,579	5,337	5,230	5,087	4,945	4,862	4,551	4,366
Noncurrent Deferred & Refundable Income Taxes	36,860	33,172	23,544	24,082	24,640	24,136	21,152	20,539	22,339	21,254	22,960
Other Noncurrent Operating Assets	3,021	3,849	4,929	5,770	7,346	7,264	11,488	54,634	58,007	60,250	61,439
Total Liabilities & Shareholders' Equity	194,338	221,690	212,482	227,339	228,037	235,194	244,718	264,037	273,064	279,761	281,284
Total Liabilities	154,015	177,615	176,282	184,562	182,080	185,517	178,903	191,752	204,757	214,171	218,116
Total Current Liabilities	71,217	85,181	76,890	82,237	84,905	79,910	74,408	91,173	94,445	96,265	93,342
Short-Term Debt	19,562	23,797	26,965	31,891	37,400	36,913	33,720	38,778	38,968	39,432	35,668
Accounts Payable	24,062	23,333	23,929	22,297	21,018	19,928	20,391	27,486	28,114	25,680	23,919
Accrued Expenses	27,593	25,893	25,996	28,049	26,487	23,069	20,297	24,910	27,364	31,154	33,754
Total Noncurrent Liabilities	82,798	92,434	99,392	102,325	97,175	105,607	104,495	100,579	110,313	117,905	124,773
Long-Term Debt	43,549	51,326	67,254	73,060	65,924	72,981	75,659	75,921	82,773	90,300	94,609
Noncurrent Employee Benefit Liabilities	26,596	21,067	19,744	16,908	18,105	19,179	13,751	9,891	11,025	9,769	9,013
Other Noncurrent Operating Liabilities	12,653	12,415	12,394	12,357	13,146	13,447	15,085	14,767	16,515	17,836	21,151
Commitments & Contingencies	0.00	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	40,323	44,075	36,200	42,777	45,957	49,677	65,815	71,927	68,189	65,590	63,168
Total Preferred & Common Equity	39,871	43,836	35,001	38,860	41,792	45,030	59,744	67,792	64,286	63,072	61,119
Total Common Equity	39,871	43,836	35,001	38,860	41,792	45,030	59,744	67,792	64,286	63,072	61,118
Common Stock	27,622	26,998	25,385	25,577	26,088	26,556	27,076	26,442	19,142	20,853	19,937
Retained Earnings	20,285	26,168	17,627	22,322	26,860	31,962	41,937	49,251	55,391	53,472	51,524
Accumulated Other Comprehensive Income / (Loss)	-8,036	-9,330	-8,011	-9,039	-11,156	-13,488	-9,269	-7,901	-10,247	-11,253	-10,343
Noncontrolling Interest	452	239	1,199	3,917	4,165	4,647	6,071	4,135	3,903	2,518	2,049

This table presents General Motors' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	275,833	281,705	273,064	276,591	282,956	289,289	279,761	282,104	289,384	288,168	280,974
Total Current Assets	106,804	110,721	101,618	106,470	112,064	115,419	108,545	110,006	114,285	114,636	109,121
Cash & Equivalents	23,074	25,224	18,853	17,635	22,516	23,744	19,872	20,570	22,381	22,910	19,800
Short-Term Investments	9,556	9,651	7,613	7,845	8,313	8,477	7,265	6,919	6,958	6,792	4,618
Note & Lease Receivable	34,440	36,224	39,076	41,682	42,783	44,453	46,362	44,517	44,473	44,521	43,751
Accounts Receivable	14,068	13,923	12,378	13,774	13,406	13,782	12,827	14,936	16,722	17,125	16,381
Inventories, net	17,912	17,740	16,461	17,533	17,605	17,325	14,564	15,253	15,454	15,318	15,590
Other Current Assets	7,755	7,959	7,238	8,001	7,442	7,636	7,655	7,811	8,297	7,970	8,981
Plant, Property, & Equipment, net	47,941	49,399	30,582	30,106	30,345	30,956	31,586	32,239	33,196	33,609	33,344
Total Noncurrent Assets	121,087	121,586	140,864	140,016	140,546	142,914	139,631	139,859	141,902	139,923	138,508
Long-Term Investments	10,064	10,549	10,613	10,740	10,734	11,039	7,102	6,877	6,103	6,272	5,978
Noncurrent Note & Lease Receivables	75,761	76,048	45,043	43,511	44,747	45,928	46,474	46,534	47,043	45,300	43,724
Goodwill	4,950	4,907	4,862	4,823	4,778	4,745	4,551	4,520	4,488	4,452	4,336
Noncurrent Deferred & Refundable Income Taxes	20,640	20,289	22,339	21,704	21,088	21,007	21,254	21,234	21,478	21,669	22,682
Other Noncurrent Operating Assets	9,672	9,793	58,007	59,238	59,199	60,195	60,250	60,694	62,790	62,230	61,788
Total Liabilities & Shareholders' Equity	275,833	281,705	273,064	276,591	282,956	289,289	279,761	282,104	289,384	288,168	280,974
Total Liabilities	199,861	202,978	204,757	205,990	211,055	215,127	214,171	215,678	220,925	219,766	216,280
Total Current Liabilities	92,718	96,820	94,445	91,777	95,363	95,463	96,265	90,747	93,812	93,295	94,720
Short-Term Debt	36,668	38,652	38,968	35,976	38,098	36,162	39,432	35,934	38,314	36,477	36,294
Accounts Payable	29,800	30,387	28,114	29,393	28,762	29,629	25,680	26,948	27,077	27,317	27,912
Accrued Expenses	26,249	27,782	27,364	26,409	28,503	29,672	31,154	27,865	28,421	29,501	30,514
Total Noncurrent Liabilities	107,142	106,158	110,313	114,212	115,692	119,664	117,905	124,932	127,113	126,470	121,561
Long-Term Debt	81,375	80,221	82,773	86,261	88,338	91,689	90,300	96,744	97,417	96,026	91,462
Noncurrent Employee Benefit Liabilities	9,828	9,618	11,025	10,676	10,421	10,233	9,769	9,735	10,074	9,932	8,694
Other Noncurrent Operating Liabilities	15,938	16,320	16,515	17,275	16,933	17,742	17,836	18,453	19,622	20,512	21,405
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	75,685	78,404	68,189	70,426	71,900	74,162	65,590	66,427	68,459	68,402	64,694
Total Preferred & Common Equity	71,655	74,475	64,286	66,598	68,633	70,935	63,072	64,372	66,363	66,374	62,659
Total Common Equity	71,656	74,476	64,286	66,598	68,633	70,935	63,072	64,373	66,363	66,374	62,659
Common Stock	26,092	26,072	19,142	19,369	19,613	19,353	20,853	20,355	20,620	20,304	19,550
Retained Earnings	53,517	56,322	55,391	57,688	59,807	62,050	53,472	55,140	56,675	56,862	53,386
Accumulated Other Comprehensive Income / (Loss)	-7,953	-7,918	-10,247	-10,459	-10,787	-10,468	-11,253	-11,122	-10,932	-10,792	-10,277
Noncontrolling Interest	4,030	3,929	3,903	3,828	3,267	3,227	2,518	2,054	2,096	2,028	2,036

This table displays calculated financial ratios and metrics derived from General Motors' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-12.96%	9.92%	-2.41%	1.00%	-6.67%	-10.75%	3.69%	23.41%	9.64%	9.08%	-1.29%
EBITDA Growth	42.21%	47.43%	12.23%	-8.23%	7.85%	-4.49%	14.45%	-5.65%	-1.36%	16.31%	-27.99%
EBIT Growth	161.45%	67.25%	0.17%	-31.68%	16.72%	3.66%	45.15%	-5.01%	-7.76%	29.59%	-68.35%
NOPAT Growth	338.20%	5.68%	-96.41%	1,642.66%	17.04%	5.41%	40.77%	18.41%	1.85%	1.75%	-71.02%
Net Income Growth	139.30%	-3.61%	-141.89%	306.21%	-16.71%	-5.19%	57.33%	-2.38%	1.36%	-39.40%	-53.38%
EPS Growth	258.18%	1.52%	-143.33%	312.69%	-17.36%	-5.25%	54.73%	-8.51%	19.41%	-12.98%	-48.67%
Operating Cash Flow Growth	16.98%	41.11%	4.34%	-11.96%	-1.54%	10.98%	-8.89%	5.63%	30.46%	-3.83%	33.47%
Free Cash Flow Firm Growth	-2,035.66%	72.95%	-63.90%	18.58%	91.40%	161.62%	-1,502.53%	99.63%	5,002.19%	-37.41%	330.17%
Invested Capital Growth	92.32%	20.03%	14.71%	14.54%	5.17%	3.96%	12.05%	6.33%	5.13%	5.31%	-0.61%
Revenue Q/Q Growth	-10.91%	9.27%	1.44%	0.47%	-5.23%	5.78%	-3.00%	6.47%	-0.08%	2.59%	-1.29%
EBITDA Q/Q Growth	150.44%	69.69%	10.83%	8.88%	4.66%	12.54%	-6.57%	2.72%	-4.29%	3.41%	-17.43%
EBIT Q/Q Growth	12.96%	-13.17%	20.07%	20.96%	19.73%	43.54%	-11.29%	7.08%	-11.43%	5.95%	-54.32%
NOPAT Q/Q Growth	87.86%	-37.41%	-94.64%	559.41%	-25.83%	101.83%	-12.53%	11.19%	-3.74%	-17.16%	-51.20%
Net Income Q/Q Growth	78.12%	-32.44%	-226.33%	958.86%	-25.32%	89.71%	-9.39%	2.55%	-0.14%	-44.95%	-12.16%
EPS Q/Q Growth	115.69%	-30.64%	-233.33%	618.18%	-25.57%	95.05%	-10.55%	4.07%	2.95%	-32.16%	-36.99%
Operating Cash Flow Q/Q Growth	15.01%	-31.34%	19.85%	-5.32%	-14.55%	23.94%	0.77%	-6.88%	-8.59%	2.46%	10.97%
Free Cash Flow Firm Q/Q Growth	-408.50%	79.92%	-9.77%	-124.77%	98.14%	654.65%	-4.00%	-101.58%	250.29%	-80.31%	513.32%
Invested Capital Q/Q Growth	72.02%	-4.63%	-6.95%	71.48%	-0.41%	1.24%	0.54%	2.36%	0.52%	1.47%	-2.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	12.84%	18.37%	20.17%	17.95%	19.37%	20.37%	20.83%	19.04%	17.76%	19.41%	13.99%
EBITDA Margin	10.05%	13.48%	15.50%	14.08%	16.28%	17.42%	19.22%	14.70%	13.22%	14.10%	10.29%
Operating Margin	4.08%	5.82%	5.95%	3.02%	3.99%	5.42%	7.34%	6.58%	5.41%	6.82%	1.57%
EBIT Margin	4.53%	6.90%	7.08%	4.79%	5.99%	6.96%	9.74%	7.49%	6.31%	7.49%	2.40%
Profit (Net Income) Margin	7.08%	6.21%	-2.67%	5.44%	4.86%	5.16%	7.83%	6.19%	5.73%	3.18%	1.50%
Tax Burden Percent	114.86%	77.18%	-32.72%	93.64%	89.66%	78.09%	78.21%	83.71%	94.59%	70.00%	89.19%
Interest Burden Percent	136.07%	116.71%	115.11%	121.42%	90.48%	95.02%	102.84%	98.73%	96.01%	60.67%	70.14%
Effective Tax Rate	-14.56%	22.81%	97.22%	5.54%	10.34%	21.91%	21.79%	16.28%	5.41%	30.00%	10.84%
Return on Invested Capital (ROIC)	11.79%	8.60%	0.26%	4.01%	4.29%	4.32%	5.63%	6.12%	5.89%	5.70%	1.62%
ROIC Less NNEP Spread (ROIC-NNEP)	32.67%	15.78%	-7.80%	9.86%	6.78%	5.91%	9.33%	7.60%	7.22%	2.38%	1.81%
Return on Net Nonoperating Assets (RNNOA)	13.40%	13.36%	-9.94%	16.26%	10.74%	8.90%	11.59%	7.94%	8.10%	3.21%	2.70%
Return on Equity (ROE)	25.19%	21.96%	-9.67%	20.27%	15.03%	13.22%	17.22%	14.06%	14.00%	8.91%	4.32%
Cash Return on Invested Capital (CROIC)	-51.38%	-9.60%	-13.44%	-9.54%	-0.75%	0.44%	-5.73%	-0.02%	0.89%	0.53%	2.23%
Operating Return on Assets (OROA)	3.45%	5.06%	4.95%	3.27%	3.61%	3.68%	5.15%	4.62%	4.03%	5.08%	1.58%
Return on Assets (ROA)	5.40%	4.55%	-1.87%	3.72%	2.93%	2.73%	4.14%	3.82%	3.66%	2.16%	0.99%
Return on Common Equity (ROCE)	24.85%	21.78%	-9.50%	18.96%	13.66%	12.00%	15.62%	12.98%	13.15%	8.47%	4.17%
Return on Equity Simple (ROE_SIMPLE)	24.12%	21.14%	-11.09%	20.60%	15.95%	14.04%	16.65%	14.32%	15.31%	9.45%	0.00%
Net Operating Profit after Tax (NOPAT)	6,344	6,705	241	4,199	4,914	5,180	7,292	8,635	8,795	8,948	2,594
NOPAT Margin	4.67%	4.49%	0.17%	2.86%	3.58%	4.23%	5.74%	5.51%	5.12%	4.77%	1.40%
Net Nonoperating Expense Percent (NNEP)	-20.89%	-7.17%	8.06%	-5.85%	-2.50%	-1.58%	-3.70%	-1.49%	-1.32%	3.31%	-0.19%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.63%	4.63%	4.58%	1.34%
Cost of Revenue to Revenue	87.16%	81.63%	79.83%	82.05%	80.63%	79.63%	79.17%	80.96%	82.24%	80.59%	86.01%
SG&A Expenses to Revenue	8.76%	6.93%	14.22%	14.93%	15.38%	14.95%	13.49%	12.46%	12.35%	12.59%	12.42%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.76%	12.54%	14.22%	14.93%	15.38%	14.95%	13.49%	12.46%	12.35%	12.59%	12.42%
Earnings before Interest and Taxes (EBIT)	6,152	10,289	10,306	7,041	8,218	8,519	12,365	11,746	10,835	14,041	4,444
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	13,639	20,108	22,567	20,710	22,336	21,334	24,416	23,036	22,723	26,430	19,032
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.08	1.04	1.48	1.13	1.21	1.30	1.40	0.69	0.76	0.93	1.24
Price to Tangible Book Value (P/TBV)	1.27	1.21	1.78	1.32	1.39	1.47	1.53	0.74	0.82	1.00	1.34
Price to Revenue (P/Rev)	0.32	0.31	0.36	0.30	0.37	0.48	0.66	0.30	0.28	0.31	0.41
Price to Earnings (P/E)	4.46	4.83	0.00	5.47	7.52	9.08	8.32	4.71	4.81	9.75	28.13
Dividend Yield	4.97%	6.30%	4.16%	4.89%	4.29%	3.73%	0.00%	0.55%	1.01%	0.90%	0.70%
Earnings Yield	22.41%	20.72%	0.00%	18.28%	13.30%	11.01%	12.02%	21.23%	20.80%	10.26%	3.56%
Enterprise Value to Invested Capital (EV/IC)	1.05	1.13	1.27	1.04	1.08	1.11	1.17	0.86	0.90	0.97	1.09
Enterprise Value to Revenue (EV/Rev)	0.55	0.65	0.85	0.79	0.92	1.11	1.26	0.79	0.80	0.84	0.95
Enterprise Value to EBITDA (EV/EBITDA)	5.44	4.80	5.47	5.63	5.65	6.35	6.57	5.41	6.05	5.92	9.19
Enterprise Value to EBIT (EV/EBIT)	12.06	9.37	11.99	16.57	15.37	15.90	12.98	10.60	12.68	11.15	39.34
Enterprise Value to NOPAT (EV/NOPAT)	11.69	14.38	512.74	27.79	25.70	26.15	22.01	14.42	15.62	17.50	67.41
Enterprise Value to Operating Cash Flow (EV/OCF)	6.30	5.81	7.13	7.65	8.41	8.13	10.57	7.76	6.56	7.78	6.51
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	256.01	0.00	0.00	103.30	188.13	48.83
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.57	1.70	2.60	2.45	2.25	2.21	1.66	1.59	1.78	1.98	2.06
Long-Term Debt to Equity	1.08	1.16	1.86	1.71	1.43	1.47	1.15	1.05	1.21	1.38	1.50
Financial Leverage	0.41	0.85	1.27	1.65	1.58	1.51	1.24	1.04	1.12	1.35	1.49
Leverage Ratio	4.67	4.82	5.18	5.45	5.13	4.84	4.16	3.68	3.82	4.13	4.36
Compound Leverage Factor	6.35	5.63	5.97	6.62	4.64	4.60	4.27	3.64	3.67	2.51	3.06
Debt to Total Capital	61.02%	63.02%	72.24%	71.04%	69.21%	68.87%	62.43%	61.34%	64.06%	66.42%	67.35%
Short-Term Debt to Total Capital	18.91%	19.96%	20.68%	21.59%	25.05%	23.13%	19.25%	20.74%	20.50%	20.19%	18.44%
Long-Term Debt to Total Capital	42.10%	43.06%	51.57%	49.46%	44.16%	45.74%	43.19%	40.60%	43.55%	46.23%	48.91%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.44%	0.20%	0.92%	2.65%	2.79%	2.91%	3.47%	2.40%	2.12%	1.29%	1.06%
Common Equity to Total Capital	38.55%	36.78%	26.84%	26.31%	28.00%	28.22%	34.10%	36.26%	33.83%	32.29%	31.59%
Debt to EBITDA	4.63	3.74	4.18	5.07	4.63	5.15	4.48	4.98	5.36	4.91	6.85
Net Debt to EBITDA	2.24	2.52	3.12	3.33	3.20	3.40	2.91	3.18	3.73	3.61	5.09
Long-Term Debt to EBITDA	3.19	2.55	2.98	3.53	2.95	3.42	3.10	3.30	3.64	3.42	4.97
Debt to NOPAT	9.95	11.20	391.07	25.00	21.03	21.21	15.00	13.28	13.84	14.50	50.23
Net Debt to NOPAT	4.81	7.56	292.18	16.42	14.55	13.99	9.74	8.48	9.63	10.67	37.37
Long-Term Debt to NOPAT	6.86	7.66	279.15	17.40	13.42	14.09	10.38	8.79	9.41	10.09	36.48
Altman Z-Score	1.11	1.14	1.13	0.99	1.00	1.02	1.24	1.19	1.22	1.32	1.24
Noncontrolling Interest Sharing Ratio	1.33%	0.82%	1.79%	6.48%	9.11%	9.21%	9.28%	7.65%	6.06%	4.88%	3.55%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.97	0.89	0.89	0.92	0.88	1.01	1.10	1.10	1.08	1.13	1.17
Quick Ratio	0.70	0.58	0.68	0.73	0.67	0.79	0.84	0.86	0.83	0.90	0.92
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-27,658	-7,481	-12,262	-9,983	-859	529	-7,422	-27	1,330	832	3,581
Operating Cash Flow to CapEx	53.72%	59.57%	62.71%	59.83%	62.60%	81.19%	68.69%	75.72%	85.05%	77.10%	107.06%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-21.33	-15.24	-1.10	0.48	-7.81	-0.03	1.46	0.98	4.93
Operating Cash Flow to Interest Expense	0.00	0.00	30.14	23.29	19.21	15.18	15.99	16.25	22.97	23.79	36.96
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-17.92	-15.64	-11.48	-3.52	-7.29	-5.21	-4.04	-7.07	2.44
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.76	0.73	0.70	0.68	0.60	0.53	0.53	0.62	0.64	0.68	0.66
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	16.52	16.46	15.12	13.37	14.87	14.30
Inventory Turnover	7.01	8.49	9.72	11.18	10.95	9.45	8.66	8.95	8.88	9.74	10.96
Fixed Asset Turnover	3.43	2.52	1.99	1.82	1.68	1.55	2.14	4.25	5.43	6.03	5.67
Accounts Payable Turnover	5.08	5.14	4.92	5.22	5.11	4.76	4.99	5.30	5.08	5.62	6.42
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	22.10	22.17	24.13	27.31	24.54	25.53
Days Inventory Outstanding (DIO)	52.07	43.00	37.56	32.65	33.34	38.61	42.15	40.78	41.10	37.48	33.29
Days Payable Outstanding (DPO)	71.88	71.02	74.21	69.92	71.44	76.61	73.18	68.86	71.80	64.99	56.88
Cash Conversion Cycle (CCC)	-19.81	-28.02	-36.65	-37.27	-38.10	-15.91	-8.86	-3.94	-3.39	-2.97	1.94
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	70,832	85,018	97,521	111,703	117,476	122,127	136,841	145,503	152,968	161,084	160,097
Invested Capital Turnover	2.52	1.91	1.60	1.41	1.20	1.02	0.98	1.11	1.15	1.19	1.15
Increase / (Decrease) in Invested Capital	34,002	14,186	12,503	14,182	5,773	4,651	14,714	8,662	7,465	8,116	-987
Enterprise Value (EV)	74,187	96,446	123,534	116,684	126,286	135,473	160,471	124,511	137,369	156,586	174,836
Market Capitalization	43,226	45,499	51,941	43,841	50,602	58,376	83,374	46,799	48,686	58,575	75,860
Book Value per Share	$25.62	$28.76	$24.64	$27.53	$29.25	$31.46	$41.15	$47.72	$46.94	$57.36	$65.52
Tangible Book Value per Share	$21.80	$24.72	$20.52	$23.58	$25.51	$27.81	$37.65	$44.24	$43.39	$53.22	$60.84
Total Capital	103,434	119,198	130,419	147,728	149,281	159,571	175,194	186,983	190,048	195,322	193,445
Total Debt	63,111	75,123	94,219	104,951	103,324	109,894	109,379	114,699	121,741	129,732	130,277
Total Long-Term Debt	43,549	51,326	67,254	73,060	65,924	72,981	75,659	75,921	82,773	90,300	94,609
Net Debt	30,509	50,708	70,394	68,926	71,519	72,450	71,026	73,220	84,662	95,493	96,927
Capital Expenditures (CapEx)	21,909	27,879	27,633	25,497	23,996	20,533	22,111	21,187	24,610	26,109	25,096
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-5,648	-9,596	-5,006	-1,863	4,244	8,889	12,739	16,753	19,675	24,575	23,424
Debt-free Net Working Capital (DFNWC)	17,753	14,819	18,819	24,947	27,487	37,927	41,415	48,056	46,141	51,712	51,093
Net Working Capital (NWC)	-1,809	-8,978	-8,146	-6,944	-9,913	1,014	7,695	9,278	7,173	12,280	15,425
Net Nonoperating Expense (NNE)	-3,271	-2,563	4,123	-3,806	-1,753	-1,141	-2,653	-1,073	-1,045	2,985	-186
Net Nonoperating Obligations (NNO)	30,509	40,943	61,321	68,926	71,519	72,450	71,026	73,219	84,661	95,494	96,929
Total Depreciation and Amortization (D&A)	7,487	9,819	12,261	13,669	14,118	12,815	12,051	11,290	11,888	12,389	14,588
Debt-free, Cash-free Net Working Capital to Revenue	-4.16%	-6.43%	-3.44%	-1.27%	3.09%	7.26%	10.03%	10.69%	11.45%	13.11%	12.66%
Debt-free Net Working Capital to Revenue	13.08%	9.93%	12.93%	16.97%	20.03%	30.96%	32.61%	30.66%	26.85%	27.59%	27.62%
Net Working Capital to Revenue	-1.33%	-6.02%	-5.60%	-4.72%	-7.22%	0.83%	6.06%	5.92%	4.17%	6.55%	8.34%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$6.11	$6.12	($2.65)	$5.61	$4.62	$4.36	$6.78	$6.17	$7.35	$6.45	$3.33
Adjusted Weighted Average Basic Shares Outstanding	1.59B	1.54B	1.47B	1.41B	1.42B	1.43B	1.45B	1.45B	1.36B	1.12B	955M
Adjusted Diluted Earnings per Share	$5.91	$6.00	($2.60)	$5.53	$4.57	$4.33	$6.70	$6.13	$7.32	$6.37	$3.27
Adjusted Weighted Average Diluted Shares Outstanding	1.64B	1.57B	1.49B	1.43B	1.44B	1.44B	1.47B	1.45B	1.37B	1.13B	973M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.54B	1.50B	1.40B	1.41B	1.43B	1.44B	1.45B	1.39B	1.15B	995.00M	903.97M
Normalized Net Operating Profit after Tax (NOPAT)	3,877	6,705	6,063	4,199	4,914	5,180	7,292	8,635	8,795	8,948	2,594
Normalized NOPAT Margin	2.86%	4.49%	4.16%	2.86%	3.58%	4.23%	5.74%	5.51%	5.12%	4.77%	1.40%
Pre Tax Income Margin	6.17%	8.05%	8.15%	5.81%	5.42%	6.61%	10.01%	7.40%	6.05%	4.54%	1.68%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	17.92	10.75	10.51	7.76	13.02	11.90	11.89	16.60	6.11
NOPAT to Interest Expense	0.00	0.00	0.42	6.41	6.28	4.72	7.68	8.75	9.65	10.58	3.57
EBIT Less CapEx to Interest Expense	0.00	0.00	-30.13	-28.18	-20.18	-10.94	-10.26	-9.57	-15.12	-14.26	-28.41
NOPAT Less CapEx to Interest Expense	0.00	0.00	-47.64	-32.52	-24.40	-13.98	-15.60	-12.72	-17.36	-20.28	-30.95
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	23.32%	25.55%	-57.52%	28.01%	35.25%	10.58%	1.87%	4.09%	6.07%	10.95%	23.63%
Augmented Payout Ratio	59.93%	52.52%	-173.24%	28.01%	35.25%	12.01%	1.87%	29.84%	119.02%	129.41%	239.89%

This table displays calculated financial ratios and metrics derived from General Motors' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	903,967,853.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	903,967,853.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2.91
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.35%	-0.30%	7.58%	7.20%	10.48%	10.99%	2.34%	-1.77%	-0.34%	-5.07%	-0.90%
EBITDA Growth	-4.51%	-18.83%	17.92%	22.00%	7.11%	19.86%	-3.54%	-25.41%	-18.13%	-76.43%	-5.05%
EBIT Growth	-13.13%	-53.08%	35.25%	24.98%	16.71%	63.81%	-9.36%	-36.61%	-61.66%	-261.25%	-11.71%
NOPAT Growth	-3.28%	-20.41%	36.27%	32.46%	13.46%	-33.87%	-9.89%	-44.52%	-66.84%	-339.55%	-11.67%
Net Income Growth	-7.93%	-0.70%	25.87%	14.76%	0.47%	-244.25%	-3.39%	-34.17%	-57.01%	-13.39%	-5.19%
EPS Growth	-2.22%	15.11%	51.48%	39.34%	21.82%	-188.75%	30.86%	-25.10%	-49.63%	-135.21%	-15.82%
Operating Cash Flow Growth	27.07%	-34.98%	2.14%	-21.28%	4.02%	13.21%	92.29%	15.60%	3.53%	64.13%	-51.33%
Free Cash Flow Firm Growth	-120.63%	11.81%	50.13%	64.94%	51.17%	-20.44%	-45.25%	-329.55%	-43.63%	77.80%	192.81%
Invested Capital Growth	7.05%	5.13%	4.48%	3.60%	4.32%	5.31%	5.18%	7.64%	3.89%	-0.61%	-1.63%
Revenue Q/Q Growth	-1.38%	-2.61%	0.08%	11.52%	1.64%	-2.16%	-7.72%	7.05%	3.12%	-6.80%	-3.67%
EBITDA Q/Q Growth	6.20%	-32.10%	55.94%	8.50%	-6.77%	-24.01%	25.49%	-16.10%	2.33%	-78.12%	405.49%
EBIT Q/Q Growth	10.14%	-64.37%	227.13%	-2.65%	2.85%	-49.99%	81.02%	-31.92%	-37.79%	-310.32%	199.11%
NOPAT Q/Q Growth	12.82%	-38.13%	84.42%	2.90%	-3.37%	-63.94%	151.29%	-36.64%	-42.24%	-360.51%	192.66%
Net Income Q/Q Growth	19.43%	-33.43%	48.17%	-2.57%	4.55%	-195.58%	199.23%	-33.61%	-31.73%	-352.13%	182.98%
EPS Q/Q Growth	20.22%	-27.27%	60.00%	-0.39%	5.10%	-152.99%	335.92%	-42.99%	-29.32%	-347.41%	184.43%
Operating Cash Flow Q/Q Growth	-13.11%	-44.56%	-13.81%	89.59%	14.81%	-39.66%	46.40%	13.97%	2.82%	-4.34%	-56.59%
Free Cash Flow Firm Q/Q Growth	-8.68%	21.07%	36.01%	36.13%	-51.37%	-94.69%	22.83%	-88.89%	49.39%	69.91%	422.63%
Invested Capital Q/Q Growth	0.56%	0.52%	2.39%	0.10%	1.26%	1.47%	2.27%	2.43%	-2.26%	-2.93%	1.22%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	18.78%	14.82%	20.97%	19.50%	20.00%	17.31%	20.06%	16.62%	13.70%	5.68%	19.70%
EBITDA Margin	14.63%	10.20%	15.90%	15.47%	14.19%	11.02%	14.98%	11.74%	11.65%	2.74%	14.36%
Operating Margin	6.83%	2.14%	8.69%	8.07%	7.49%	3.19%	7.61%	4.51%	2.21%	-8.05%	6.71%
EBIT Margin	7.85%	2.87%	9.39%	8.20%	8.30%	4.24%	8.32%	5.29%	3.19%	-7.20%	7.41%
Profit (Net Income) Margin	6.78%	4.64%	6.87%	6.00%	6.17%	-6.03%	6.48%	4.02%	2.66%	-7.20%	6.20%
Tax Burden Percent	86.43%	175.59%	79.49%	78.97%	80.93%	112.48%	79.87%	79.75%	91.12%	76.72%	80.82%
Interest Burden Percent	99.94%	91.90%	91.96%	92.63%	91.89%	-126.35%	97.54%	95.27%	91.49%	130.26%	103.53%
Effective Tax Rate	13.57%	-75.51%	20.51%	21.05%	19.07%	0.00%	20.13%	20.25%	8.95%	0.00%	19.18%
Return on Invested Capital (ROIC)	6.90%	4.32%	7.88%	7.37%	7.12%	2.67%	7.13%	4.15%	2.34%	-6.49%	6.13%
ROIC Less NNEP Spread (ROIC-NNEP)	7.43%	4.80%	7.86%	7.14%	7.19%	-1.71%	7.32%	4.36%	2.68%	-7.23%	6.47%
Return on Net Nonoperating Assets (RNNOA)	7.30%	5.39%	8.77%	7.74%	7.43%	-2.30%	9.85%	5.76%	3.41%	-10.80%	9.66%
Return on Equity (ROE)	14.19%	9.71%	16.66%	15.11%	14.55%	0.37%	16.98%	9.90%	5.74%	-17.30%	15.78%
Cash Return on Invested Capital (CROIC)	-0.60%	0.89%	1.90%	3.24%	2.72%	0.53%	0.35%	-2.86%	-0.54%	2.23%	3.03%
Operating Return on Assets (OROA)	4.98%	1.84%	6.04%	5.23%	5.31%	2.88%	5.61%	3.47%	2.07%	-4.75%	4.86%
Return on Assets (ROA)	4.30%	2.97%	4.42%	3.82%	3.95%	-4.09%	4.37%	2.63%	1.73%	-4.75%	4.07%
Return on Common Equity (ROCE)	13.36%	9.12%	15.69%	14.33%	13.84%	0.35%	16.23%	9.53%	5.53%	-16.68%	15.29%
Return on Equity Simple (ROE_SIMPLE)	13.23%	0.00%	15.69%	15.76%	15.27%	0.00%	9.11%	7.35%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	2,604	1,611	2,971	3,058	2,955	1,065	2,677	1,696	980	-2,552	2,365
NOPAT Margin	5.90%	3.75%	6.91%	6.37%	6.06%	2.23%	6.08%	3.60%	2.02%	-5.64%	5.42%
Net Nonoperating Expense Percent (NNEP)	-0.53%	-0.48%	0.02%	0.23%	-0.07%	4.37%	-0.19%	-0.21%	-0.35%	0.74%	-0.35%
Return On Investment Capital (ROIC_SIMPLE)	-	0.85%	-	-	-	0.55%	1.34%	0.83%	0.49%	-1.32%	1.23%
Cost of Revenue to Revenue	81.22%	85.18%	79.03%	80.50%	80.00%	82.69%	79.94%	83.38%	86.30%	94.32%	80.30%
SG&A Expenses to Revenue	11.96%	12.69%	12.28%	11.43%	12.51%	14.11%	12.44%	12.11%	11.48%	13.74%	13.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	11.96%	12.69%	12.28%	11.43%	12.51%	14.11%	12.44%	12.11%	11.48%	13.74%	13.00%
Earnings before Interest and Taxes (EBIT)	3,466	1,235	4,040	3,933	4,045	2,023	3,662	2,493	1,551	-3,262	3,233
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6,458	4,385	6,838	7,419	6,917	5,256	6,596	5,534	5,663	1,239	6,263
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.60	0.76	0.93	0.77	0.71	0.93	0.73	0.71	0.87	1.24	1.07
Price to Tangible Book Value (P/TBV)	0.65	0.82	1.00	0.83	0.76	1.00	0.78	0.76	0.94	1.34	1.15
Price to Revenue (P/Rev)	0.26	0.28	0.35	0.30	0.28	0.31	0.25	0.25	0.31	0.41	0.36
Price to Earnings (P/E)	4.48	4.81	5.78	4.78	4.55	9.75	8.05	9.91	19.06	28.13	26.51
Dividend Yield	1.10%	1.01%	0.86%	0.90%	1.00%	0.90%	1.02%	1.04%	0.89%	0.70%	0.85%
Earnings Yield	22.34%	20.80%	17.29%	20.90%	21.97%	10.26%	12.42%	10.09%	5.25%	3.56%	3.77%
Enterprise Value to Invested Capital (EV/IC)	0.81	0.90	0.97	0.90	0.87	0.97	0.89	0.89	0.95	1.09	1.03
Enterprise Value to Revenue (EV/Rev)	0.71	0.80	0.87	0.79	0.76	0.84	0.78	0.80	0.84	0.95	0.90
Enterprise Value to EBITDA (EV/EBITDA)	5.16	6.05	6.40	5.62	5.41	5.92	5.62	6.16	6.79	9.19	8.92
Enterprise Value to EBIT (EV/EBIT)	10.02	12.68	12.78	11.14	10.43	11.15	10.77	12.25	16.10	39.34	41.53
Enterprise Value to NOPAT (EV/NOPAT)	13.42	15.62	15.78	13.52	12.79	17.50	16.96	20.47	29.47	67.41	73.82
Enterprise Value to Operating Cash Flow (EV/OCF)	5.35	6.56	7.24	7.28	7.04	7.78	6.39	6.25	6.47	6.51	7.02
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	103.30	52.15	28.29	32.70	188.13	262.64	0.00	0.00	48.83	33.73
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.51	1.78	1.73	1.76	1.72	1.98	2.00	1.98	1.94	2.06	1.97
Long-Term Debt to Equity	1.02	1.21	1.22	1.23	1.24	1.38	1.46	1.42	1.40	1.50	1.41
Financial Leverage	0.98	1.12	1.12	1.08	1.03	1.35	1.35	1.32	1.27	1.49	1.49
Leverage Ratio	3.65	3.82	3.75	3.78	3.73	4.13	4.08	4.08	4.05	4.36	4.29
Compound Leverage Factor	3.65	3.51	3.45	3.50	3.43	-5.22	3.98	3.88	3.71	5.68	4.45
Debt to Total Capital	60.16%	64.06%	63.39%	63.75%	63.29%	66.42%	66.64%	66.47%	65.95%	67.35%	66.38%
Short-Term Debt to Total Capital	19.56%	20.50%	18.66%	19.21%	17.90%	20.19%	18.05%	18.76%	18.16%	18.44%	18.86%
Long-Term Debt to Total Capital	40.60%	43.55%	44.73%	44.54%	45.39%	46.23%	48.59%	47.71%	47.80%	48.91%	47.53%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	2.15%	2.12%	2.08%	1.65%	1.60%	1.29%	1.03%	1.03%	1.01%	1.06%	1.06%
Common Equity to Total Capital	37.69%	33.83%	34.54%	34.60%	35.11%	32.29%	32.33%	32.50%	33.04%	31.59%	32.56%
Debt to EBITDA	5.01	5.36	5.14	5.04	5.00	4.91	5.07	5.58	5.75	6.85	6.83
Net Debt to EBITDA	3.09	3.73	3.62	3.38	3.31	3.61	3.75	4.13	4.19	5.09	5.21
Long-Term Debt to EBITDA	3.38	3.64	3.63	3.52	3.59	3.42	3.69	4.01	4.17	4.97	4.89
Debt to NOPAT	13.01	13.84	12.69	12.11	11.84	14.50	15.29	18.56	24.93	50.23	56.56
Net Debt to NOPAT	8.04	9.63	8.93	8.13	7.83	10.67	11.33	13.71	18.16	37.37	43.10
Long-Term Debt to NOPAT	8.78	9.41	8.96	8.46	8.49	10.09	11.15	13.32	18.07	36.48	40.49
Altman Z-Score	1.12	1.10	1.22	1.19	1.20	1.18	1.20	1.16	1.19	1.15	1.21
Noncontrolling Interest Sharing Ratio	5.89%	6.06%	5.77%	5.13%	4.89%	4.88%	4.42%	3.82%	3.69%	3.55%	3.12%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.14	1.08	1.16	1.18	1.21	1.13	1.21	1.22	1.23	1.17	1.15
Quick Ratio	0.88	0.83	0.88	0.91	0.95	0.90	0.96	0.97	0.98	0.92	0.89
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-7,417	-5,854	-3,746	-2,392	-3,621	-7,051	-5,441	-10,277	-5,201	-1,565	5,050
Operating Cash Flow to CapEx	110.04%	51.51%	50.68%	90.24%	114.37%	56.95%	100.55%	106.02%	115.53%	106.11%	61.64%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-17.10	-11.61	-17.58	-32.79	-35.79	-51.90	-24.89	-9.32	31.96
Operating Cash Flow to Interest Expense	0.00	0.00	14.39	29.01	33.31	19.26	39.88	34.89	33.99	40.45	18.67
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-14.00	-3.14	4.18	-14.55	0.22	1.98	4.57	2.33	-11.62
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.63	0.64	0.64	0.64	0.64	0.68	0.67	0.66	0.65	0.66	0.66
Accounts Receivable Turnover	12.31	13.37	12.73	12.96	13.19	14.87	13.13	12.45	12.13	14.30	11.79
Inventory Turnover	8.17	8.88	8.11	8.17	8.45	9.74	9.29	9.25	9.55	10.96	10.31
Fixed Asset Turnover	3.73	5.43	4.54	4.55	4.55	6.03	6.05	5.90	5.81	5.67	5.63
Accounts Payable Turnover	4.86	5.08	4.91	4.95	4.94	5.62	5.40	5.48	5.47	6.42	5.80
Days Sales Outstanding (DSO)	29.65	27.31	28.67	28.15	27.67	24.54	27.80	29.31	30.09	25.53	30.96
Days Inventory Outstanding (DIO)	44.68	41.10	45.01	44.68	43.17	37.48	39.30	39.45	38.22	33.29	35.41
Days Payable Outstanding (DPO)	75.04	71.80	74.39	73.68	73.89	64.99	67.53	66.63	66.68	56.88	62.98
Cash Conversion Cycle (CCC)	-0.70	-3.39	-0.70	-0.84	-3.05	-2.97	-0.43	2.12	1.64	1.94	3.38
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	152,175	152,968	156,619	156,774	158,751	161,084	164,737	168,747	164,932	160,097	162,052
Invested Capital Turnover	1.17	1.15	1.14	1.16	1.18	1.19	1.17	1.15	1.16	1.15	1.13
Increase / (Decrease) in Invested Capital	10,021	7,465	6,717	5,450	6,576	8,116	8,118	11,973	6,181	-987	-2,685
Enterprise Value (EV)	122,571	137,369	151,963	141,149	138,215	156,586	147,161	149,697	156,605	174,836	166,742
Market Capitalization	44,870	48,686	61,943	53,009	50,397	58,575	46,795	47,312	58,048	75,860	67,346
Book Value per Share	$54.13	$46.94	$57.66	$60.15	$63.11	$57.36	$64.70	$69.03	$69.71	$65.52	$69.32
Tangible Book Value per Share	$50.56	$43.39	$53.48	$55.97	$58.89	$53.22	$60.15	$64.36	$65.04	$60.84	$64.52
Total Capital	197,600	190,048	192,838	198,336	202,013	195,322	199,105	204,190	200,905	193,445	192,450
Total Debt	118,873	121,741	122,237	126,436	127,851	129,732	132,678	135,731	132,503	130,277	127,756
Total Long-Term Debt	80,221	82,773	86,261	88,338	91,689	90,300	96,744	97,417	96,026	94,609	91,462
Net Debt	73,449	84,662	86,017	84,873	84,591	95,493	98,312	100,289	96,529	96,927	97,360
Capital Expenditures (CapEx)	5,994	7,099	6,219	6,622	5,999	7,269	6,028	6,516	6,148	6,404	4,786
Debt-free, Cash-free Net Working Capital (DFCFNWC)	17,678	19,675	25,189	23,970	23,897	24,575	27,704	29,448	28,116	23,424	26,277
Debt-free Net Working Capital (DFNWC)	52,553	46,141	50,669	54,799	56,118	51,712	55,193	58,787	57,818	51,093	50,695
Net Working Capital (NWC)	13,901	7,173	14,693	16,701	19,956	12,280	19,259	20,473	21,341	15,425	14,401
Net Nonoperating Expense (NNE)	-390	-382	18	181	-53	3,940	-176	-198	-313	708	-340
Net Nonoperating Obligations (NNO)	73,448	84,661	86,018	84,874	84,589	95,494	98,310	100,288	96,530	96,929	97,358
Total Depreciation and Amortization (D&A)	2,992	3,150	2,798	3,486	2,872	3,233	2,934	3,041	4,112	4,501	3,030
Debt-free, Cash-free Net Working Capital to Revenue	10.28%	11.45%	14.40%	13.46%	13.08%	13.11%	14.70%	15.70%	15.00%	12.66%	14.23%
Debt-free Net Working Capital to Revenue	30.56%	26.85%	28.98%	30.77%	30.71%	27.59%	29.29%	31.34%	30.85%	27.62%	27.46%
Net Working Capital to Revenue	8.08%	4.17%	8.40%	9.38%	10.92%	6.55%	10.22%	10.91%	11.39%	8.34%	7.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.21	$1.61	$2.57	$2.57	$2.71	($1.40)	$3.40	$1.94	$1.37	($3.38)	$2.87
Adjusted Weighted Average Basic Shares Outstanding	1.37B	1.36B	1.16B	1.14B	1.12B	1.12B	988M	963M	944M	955M	911M
Adjusted Diluted Earnings per Share	$2.20	$1.60	$2.56	$2.55	$2.68	($1.42)	$3.35	$1.91	$1.35	($3.34)	$2.82
Adjusted Weighted Average Diluted Shares Outstanding	1.38B	1.37B	1.16B	1.15B	1.13B	1.13B	1.00B	976M	964M	973M	926M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.37B	1.15B	1.14B	1.12B	1.10B	995.00M	961.43M	952.08M	932.86M	903.97M	901.67M
Normalized Net Operating Profit after Tax (NOPAT)	2,604	643	2,971	3,058	2,955	1,065	2,677	1,696	980	-2,552	2,365
Normalized NOPAT Margin	5.90%	1.50%	6.91%	6.37%	6.06%	2.23%	6.08%	3.60%	2.02%	-5.64%	5.42%
Pre Tax Income Margin	7.85%	2.64%	8.64%	7.59%	7.62%	-5.36%	8.11%	5.04%	2.92%	-9.38%	7.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	18.45	19.09	19.64	9.41	24.09	12.59	7.42	-19.42	20.46
NOPAT to Interest Expense	0.00	0.00	13.57	14.84	14.34	4.96	17.61	8.57	4.69	-15.19	14.97
EBIT Less CapEx to Interest Expense	0.00	0.00	-9.95	-13.05	-9.49	-24.40	-15.57	-20.32	-22.00	-57.54	-9.83
NOPAT Less CapEx to Interest Expense	0.00	0.00	-14.83	-17.30	-14.78	-28.85	-22.04	-24.34	-24.73	-53.31	-15.32
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	6.29%	6.07%	5.84%	5.73%	5.82%	10.95%	10.75%	13.07%	20.41%	23.63%	26.79%
Augmented Payout Ratio	27.80%	119.02%	111.38%	112.90%	120.06%	129.41%	160.77%	171.48%	279.43%	239.89%	209.16%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, retail-investor friendly look at General Motors Co (GM) using the quarterly statements from 2022 through 2025 (latest: Q4 2025). The big themes are a stable revenue base and strong operating cash flow, offset by profitability volatility and a sizable leverage footprint tied to capex and EV/transformation investments.

Strong, recurring operating cash flow: GM generated solid cash from operations in recent years, roughly in the 6.0–7.1 billion range per quarter (example: Q3 2025 net cash from continuing operating activities about 6.11B; Q4 2025 about 6.79B).
Stable revenue base in a high-40s billions range: Total revenue has generally trended in the low-to-mid $40Bs across 2022–2025, with quarterly figures typically in the $42–48B band (e.g., Q4 2025: 45.29B; Q4 2024: 47.70B; Q4 2023: 42.98B).
Access to capital markets for financing: GM periodically taps the debt markets, including a notable $6.07B debt issuance in Q4 2025, helping fund ongoing capex and EV-related investments.
Solid equity base versus a large asset base: Total assets have grown to around $288B in the latest period, with total equity in the mid-to-high $60B range (Total equity around $66–67B in recent quarters; Total liabilities roughly $219–220B, implying a substantial balance sheet cushion).
Profitability remains volatile, with occasional positive quarters: Net income attributable to common shareholders has been positive in some quarters (for example, late-2023 and select 2024–2025 periods), but GM has also recorded multibillion-dollar losses in other quarters, reflecting market conditions and ongoing transformation costs.
Capex intensity and capital allocation are evident: GM consistently reports purchases of property, plant & equipment in the mid to high single-digit billions per quarter, indicating persistent investment in manufacturing and EV-related capacity.
Debt load remains elevated but broadly stable: Long-term debt sits broadly in the $90–100B range across recent years, contributing to a high but manageable leverage profile in the context of large asset bases and ongoing capital programs.
Significant quarterly net losses in certain periods: In several quarters, net income to common shareholders was negative (for example, Q4 2025 shows a net loss to common shareholders of about -$3.31B), signaling ongoing profitability headwinds.
Operating income pressures in some quarters: Total operating income was negative in at least one recent quarter (e.g., Q4 2025), underscoring earnings pressure despite stable revenue levels.
Cash flow tailwinds/winds down due to financing and investing activity: Net cash from financing activities and net change in cash have been negative in several quarters, reflecting net cash outflows from financing and investing activities (for example, Q4 2025: net cash from financing about -$5.0B and net change in cash around -$1.93B).

Bottom line for investors: GM’s sales base has remained relatively stable, and operating cash flow has been robust enough to fund ongoing capex and debt service. However, profitability has been volatile across quarters as the company invests in the EV transition and manages a substantial debt load. The balance sheet remains asset-rich with a sizable liability base, and capital-market activity continues to be a key funding channel.

05/22/26 02:11 AM ETAI Generated. May Contain Errors.

General Motors Financials - Frequently Asked Questions

According to the most recent income statement we have on file, General Motors' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

General Motors' net income for the last 5 years looks like this:

2021: $9.95 billion
2022: $9.71 billion
2023: $9.84 billion
2024: $5.96 billion
2025: $2.78 billion

See General Motors' forecast for analyst expectations on what's next for the company.

General Motors' total operating income in 2025 was $2.91 billion, based on the following breakdown:

Total Gross Profit: $25.89 billion
Total Operating Expenses: $22.98 billion

Over the last 10 years, General Motors' total revenue changed from $135.73 billion in 2015 to $185.02 billion in 2025, a change of 36.3%.

General Motors' total liabilities were at $218.12 billion at the end of 2025, a 1.8% increase from 2024, and a 41.6% increase since 2015.

In the past 10 years, General Motors' cash and equivalents has ranged from $12.57 billion in 2016 to $20.95 billion in 2025, and is currently $20.95 billion as of their latest financial filing in 2025.

Over the last 10 years, General Motors' book value per share changed from 25.62 in 2015 to 65.52 in 2025, a change of 155.7%.

Related Companies

Financial statements for NYSE:GM last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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General Motors (GM) Financials

Financials Breakdown Chart

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General Motors (GM) Financials

Annual Income Statements for General Motors

Quarterly Income Statements for General Motors

Annual Cash Flow Statements for General Motors

Quarterly Cash Flow Statements for General Motors

Annual Balance Sheets for General Motors

Quarterly Balance Sheets for General Motors

Annual Metrics And Ratios for General Motors

Quarterly Metrics And Ratios for General Motors

Financials Breakdown Chart

Key Financial Trends

General Motors Financials - Frequently Asked Questions

When does General Motors' fiscal year end?

How has General Motors' net income changed over the last 10 years?

What is General Motors' operating income?

How has General Motors' revenue changed over the last 10 years?

How much debt does General Motors have?

How much cash does General Motors have?

How has General Motors' book value per share changed over the last 10 years?

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