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General Motors

GM NYSE Automobile Manufacturers Financials FY2016–FY2025

General Motors' revenue fell 1.3% to $185.0 billion in fiscal 2025. Its operating margin was 1.6%, down from 6.8% a year earlier. Free cash flow was $17.6 billion, up 88.9%. It paid out $6.7 billion in dividends and buybacks, 38% of free cash flow. The diluted share count fell 13.8%.

Last close · Oct 23, 2026

$75.92

1.7%
Value it Compare
Revenue Total sales reported in the income statement.
$185.0B
1.3% vs prior year
Operating margin Operating income as a share of revenue.
1.6%
5.3 pts
Net income Profit after all expenses, interest and tax.
$2.7B
55.1%
Free cash flow Cash from operations minus capital spending.
$17.6B
88.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
1.5%
3.8 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$67.3B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
16.5x
On $4.59 EPS (TTM)

What General Motors does

General Motors designs, builds and sells trucks, crossovers, cars and parts under the Chevrolet, GMC, Cadillac and Buick brands. It also sells software services and subscriptions, such as OnStar connected services and Super Cruise, a hands-free driver assistance system. Most of its vehicles reach buyers through independent dealers, and it also sells to fleets such as rental car companies, businesses and governments.

GM reports its car business in two segments, GM North America and GM International, and in 2025 27.5% of the vehicles it sold to dealers and distributors were sold outside the U.S. Joint ventures in China sell vehicles under brands including Wuling and Baojun. A third segment, GM Financial, makes car loans and leases to customers and lends to dealers. GM says its profits depend most on its full-size gas-powered pickups and SUVs, and that it faces growing competition from lower-cost carmakers in countries such as China and India.

GM had about 88,000 hourly and 68,000 salaried employees at the end of 2025. It has scaled back its electric vehicle capacity as demand slowed, and in 2025 it wound down the Cruise robotaxi business to focus self-driving work on personal cars. It also announced plans to spend about $4.0 billion to move more production to plants in Tennessee, Kansas and Michigan.

Legal name
GENERAL MOTORS COMPANY
Fiscal year ends
December 31, 2025
Latest annual report
10-K · Jan 27, 2026
Accession · CIK
0001467858-26-000013
0001467858

Revenue and margins

General Motors had $185.0B of revenue in fiscal 2025, down 1.3% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew −6.5% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $17.6B in fiscal 2025, 9.5% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

General Motors returned $6.7B to shareholders in fiscal 2025, 38% of free cash flow. The diluted share count fell 13.8%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value General Motors yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$103.9B and divides by 973.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 16.5x · peers — · sector 17.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably General Motors can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $28.7B$31.3B$26.5B$27.1B$27.7B
Debt incl. finance leases $109.9B$116.2B$123.5B$131.8B$131.6B
Net debt / EBITDA 3.8x3.9x4.6x4.3x7.0x
Debt / equity 1.8x1.7x1.9x2.1x2.2x
Interest coverage 2.7x2.9x1.7x2.1x0.4x
Current ratio 1.1x1.1x1.1x1.1x1.2x
Quick ratio 0.9x0.9x0.9x1.0x1.0x
Total assets $244.7B$264.0B$273.1B$279.8B$281.3B
Total liabilities $178.9B$191.8B$204.8B$214.2B$218.1B
Shareholders' equity $59.7B$67.8B$64.3B$63.1B$61.1B
Net debt (− = net cash) $81.2B$84.9B$97.0B$104.6B$103.9B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$74.0M

5 insiders

Of sales under plans

100%

$74.0M

DateInsiderTradeSharesPriceValueFiling
Aug 3, 2026 Grant Michael DixtonExecutive Vice President Sold plan 40,000 $88.44 $3.5M Form 4
Jul 28, 2026 Christopher HattoVice President & CAO Sold plan 6,895 $90.00 $0.6M Form 4
Jul 28, 2026 Mark L ReussPresident Sold plan 71,079 $89.97 $6.4M Form 4
Jul 28, 2026 Mary T BarraChair & CEO, Director Sold plan 318,448 $90.38 $28.8M Form 4
Jul 27, 2026 Mary T BarraChair & CEO, Director Sold plan 104,361 $85.32 $8.9M Form 4
Jul 27, 2026 Rory HarveyExecutive Vice President Sold plan 8,882 $86.95 $0.8M Form 4
Jun 16, 2026 Mary T BarraChair & CEO, Director Sold plan 99,239 $85.10 $8.4M Form 4
Jun 9, 2026 Mary T BarraChair & CEO, Director Sold plan 20,582 $85.00 $1.7M Form 4
May 29, 2026 Mary T BarraChair & CEO, Director Sold plan 23,000 $85.00 $2.0M Form 4
May 28, 2026 Christopher HattoVice President & CAO Sold plan 6,895 $85.00 $0.6M Form 4
May 28, 2026 Mary T BarraChair & CEO, Director Sold plan 134,954 $85.03 $11.5M Form 4
May 28, 2026 Rory HarveyExecutive Vice President Sold plan 9,124 $84.97 $0.8M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✓
Current ratio rose ✕ ✓ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✓ ✓ ✕
F-score 5 / 86 / 86 / 8
Accruals ratio −4.0%−5.1%−8.6%
Altman Z'' 1.411.541.33

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
General Motors GM $67.3B −1.3% 1.6% 9.5% 1.5% 16.5x 6
Ford F $47.2B 1.2% −4.9% 6.7% — — — Compare →
Tesla TSLA $1.32T −2.9% 4.6% 6.6% 7.2% — 5 Compare →

Stories about General Motors

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $149.2B $145.6B $147.0B $137.2B $122.5B $127.0B $156.7B $171.8B $187.4B $185.0B
Gross profit $27.4B $29.4B $26.4B $26.6B $24.9B $26.5B — — — —
Operating income $8.7B $8.7B $4.4B $5.5B $6.6B $9.3B $10.3B $9.3B $12.8B $2.9B
Interest expense $2.5B $3.1B $3.9B $4.4B $4.1B $3.4B $3.6B $5.5B $6.2B $6.6B
Pretax income $12.0B $11.9B $8.5B $7.4B $8.1B $12.7B $11.6B $10.4B $8.5B $3.1B
Income tax $2.7B $11.5B $474M $769M $1.8B $2.8B $1.9B $563M $2.6B $338M
Net income $9.4B −$3.9B $8.0B $6.7B $6.4B $10.0B $9.9B $10.1B $6.0B $2.7B
Diluted EPS $6.00 −$2.60 $5.53 $4.57 $4.33 $6.70 $6.13 $7.32 $6.37 $3.27
Diluted shares 1.57B 1.49B 1.43B 1.44B 1.44B 1.47B 1.45B 1.37B 1.13B 0.97B
Cash flow
Cash from operations $16.6B $17.3B $15.3B $15.0B $16.7B $15.2B $16.0B $20.9B $20.1B $26.9B
Capital expenditure $8.4B $8.5B $8.8B $7.6B $5.3B $7.5B $9.2B $11.0B $10.8B $9.3B
Free cash flow $8.2B $8.9B $6.5B $7.4B $11.4B $7.7B $6.8B $10.0B $9.3B $17.6B
Depreciation and amortization $9.7B $12.0B $13.1B $14.1B $12.7B $12.0B $11.3B $11.7B $11.5B $12.0B
Stock-based compensation $627M $585M $316M $456M $351M $391M $419M $340M $332M $334M
Acquisitions $804M $41.0M $83.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $2.5B $4.5B $190M $0.0M $90.0M $0.0M $2.5B $11.1B $7.1B $6.0B
Dividends paid $2.4B $2.2B $2.2B $2.4B $669M $186M $397M $597M $653M $657M
Dividends and buybacks $4.9B $6.7B $2.4B $2.4B $759M $186M $2.9B $11.7B $7.7B $6.7B
Balance sheet
Cash and short-term investments $24.4B $23.8B $26.8B $23.2B $29.0B $28.7B $31.3B $26.5B $27.1B $27.7B
Total debt $85.6B $95.3B $106.1B $104.0B $110.0B $109.9B $116.2B $123.5B $131.8B $131.6B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $76.2B $68.7B $75.3B $75.0B $80.9B $82.1B $100.5B $101.6B $108.5B $108.8B
Current liabilities $85.2B $76.9B $82.2B $84.9B $79.9B $74.4B $91.2B $94.4B $96.3B $93.3B
Inventory $11.0B $10.7B $9.8B $10.4B $10.2B $13.0B $15.4B $16.5B $14.6B $14.5B
Property and equipment, net $32.6B $36.3B $38.8B $38.8B $37.6B $41.1B $45.2B — — —
Total assets $221.7B $212.5B $227.3B $228.0B $235.2B $244.7B $264.0B $273.1B $279.8B $281.3B
Total liabilities $177.6B $176.3B $184.6B $182.1B $185.5B $178.9B $191.8B $204.8B $214.2B $218.1B
Shareholders' equity $43.8B $35.0B $38.9B $41.8B $45.0B $59.7B $67.8B $64.3B $63.1B $61.1B
Margins
Gross margin 18.4% 20.2% 18.0% 19.4% 20.4% 20.8% — — — —
Operating margin 5.8% 6.0% 3.0% 4.0% 5.4% 7.3% 6.6% 5.4% 6.8% 1.6%
EBITDA margin 12.3% 14.2% 12.0% 14.2% 15.8% 16.8% 13.8% 12.2% 12.9% 8.1%
Net margin 6.3% −2.7% 5.5% 4.9% 5.3% 7.9% 6.3% 5.9% 3.2% 1.5%
FCF margin 5.5% 6.1% 4.4% 5.4% 9.3% 6.1% 4.3% 5.8% 5.0% 9.5%
Returns
Return on capital 7.2% 4.1% 3.7% 4.0% 4.0% 5.3% 5.7% 5.5% 5.3% 1.5%
Return on capital employed 6.7% 6.4% 3.2% 3.8% 4.5% 5.7% 6.0% 5.3% 7.1% 1.6%
Return on equity 22.5% −9.8% 21.7% 16.7% 14.8% 19.1% 15.6% 15.3% 9.4% 4.3%
Return on assets 4.5% −1.8% 3.6% 3.0% 2.8% 4.2% 3.9% 3.8% 2.2% 1.0%
Growth
Revenue growth 9.9% −2.4% 1.0% −6.7% −10.8% 3.7% 23.4% 9.6% 9.1% −1.3%
Net income growth −2.7% −141.0% — −16.0% −4.5% 55.9% −0.9% 1.9% −40.7% −55.1%
EPS growth 1.5% −143.3% — −17.4% −5.3% 54.7% −8.5% 19.4% −13.0% −48.7%
FCF growth 65.9% 7.9% −26.8% 14.4% 53.1% −32.5% −11.4% 46.4% −6.6% 88.9%
Share count change −4.3% −5.0% −4.1% 0.6% 0.2% 1.8% −1.0% −5.9% −17.5% −13.8%
Financial health
Net debt / EBITDA 3.3x 3.5x 4.5x 4.1x 4.2x 3.8x 3.9x 4.6x 4.3x 7.0x
Debt / equity 2.0x 2.7x 2.7x 2.5x 2.4x 1.8x 1.7x 1.9x 2.1x 2.2x
Interest coverage 3.4x 2.8x 1.2x 1.2x 1.6x 2.7x 2.9x 1.7x 2.1x 0.4x
Current ratio 0.9x 0.9x 0.9x 0.9x 1.0x 1.1x 1.1x 1.1x 1.1x 1.2x
Quick ratio 0.8x 0.8x 0.8x 0.8x 0.9x 0.9x 0.9x 0.9x 1.0x 1.0x
Capital allocation
Capex / revenue 5.6% 5.8% 6.0% 5.5% 4.3% 5.9% 5.9% 6.4% 5.8% 5.0%
Stock comp / revenue 0.4% 0.4% 0.2% 0.3% 0.3% 0.3% 0.3% 0.2% 0.2% 0.2%
Payouts / FCF 59.2% 75.8% 37.4% 31.6% 6.7% 2.4% 42.6% 117.6% 83.0% 38.0%
Quality scores
Piotroski F-score 6.0 4.0 7.0 5.0 5.0 8.0 6.0 5.0 6.0 6.0
Altman Z'' 0.6 0.5 0.5 0.5 0.9 1.4 1.5 1.4 1.5 1.3
Accruals ratio −3.5% −9.8% −3.3% −3.6% −4.4% −2.2% −2.4% −4.0% −5.1% −8.6%

Source: SEC EDGAR XBRL filings (CIK 0001467858). Data updated October 20, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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