General Motors Co GM
General Motors Company (sometimes referred to as we, our, us, ourselves, the Company, General Motors, or GM) was incorporated as a Delaware corporation in 2009. We design, build, and sell trucks, crossovers, cars, and automobile parts and provide software-enabled services and subscriptions worldwide. Our automotive operations meet the demands of our customers through our segments: GM North America (GMNA) and GM International (GMI) with vehicles developed, manufactured, and/or marketed under the Buick, Cadillac, Chevrolet, and GMC brands. We also have equity ownership stakes in entities that meet the demands of customers in other countries, primarily in China, with vehicles developed, manufactured, and/or marketed under the Baojun, Buick, Cadillac, Chevrolet, and Wuling brands. In December 2024, we announced that we would no longer fund Cruise's robotaxi development work and will refocus our autonomous driving strategy on personal vehicles and, in February 2025, we completed the acquisition of the noncontrolling interests in Cruise, began to wind down the Cruise robotaxi operations, and combined the GM and Cruise autonomous technical efforts in our GMNA segment. We provide automotive financing services through our General Motors Financial Company, Inc. (GM Financial) segment. Refer to Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) and Note 23 to our consolidated financial statements for financial information about our segments. Except for per share amounts or as otherwise specified, amounts presented within tables are stated in millions. Certain columns and rows may not sum due to rounding. Forward-looking statements in this Business section are not guarantees of future performance and may involve risks and uncertainties that could cause actual results to differ materially from those projected. Refer to Item 1A. Risk Factors and the "Forward-Looking Statements" section of Part II, Item 7. MD&A for a discussion of these risks and uncertainties.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $167.97B | $171.61B | $157.66B | $143.97B | $113.59B | $108.67B | $122.70B | $133.04B | $145.59B | $149.18B |
| Cost of revenue | — | — | — | — | $100.54B | $97.54B | $110.65B | $120.66B | $116.23B | $121.78B |
| Gross profit | — | — | — | — | $13.05B | $11.13B | $12.05B | $12.39B | $29.36B | $27.40B |
| SG&A | — | — | — | — | $8.55B | $7.04B | $8.49B | $9.65B | $9.57B | $10.35B |
| Total operating expenses | $182.11B | $174.66B | $162.54B | $146.42B | $117.68B | $115.85B | $131.76B | $142.60B | $136.93B | $140.50B |
| Operating income | $2.91B | $12.78B | $9.30B | $10.31B | $9.32B | $6.63B | $5.48B | $4.45B | $8.66B | $8.69B |
| Interest expense | — | — | — | — | — | $4.12B | $4.42B | $3.88B | $3.14B | $2.54B |
| Pre-tax income | $3.12B | $8.52B | $10.40B | $11.60B | $12.72B | $8.10B | $7.44B | $8.55B | $11.86B | $12.01B |
| Income tax | $338.0M | $2.56B | $563.0M | $1.89B | $2.77B | $1.77B | $769.0M | $474.0M | $11.53B | $2.74B |
| Net income | $2.78B | $5.96B | $9.84B | $9.71B | $9.95B | $6.43B | $6.73B | $8.01B | -$3.86B | $9.43B |
| EPS, basic | 3.33 | 6.45 | 7.35 | 6.17 | 6.78 | 4.36 | 4.62 | 5.61 | -2.65 | 6.12 |
| EPS, diluted | 3.27 | 6.37 | 7.32 | 6.13 | 6.70 | 4.33 | 4.57 | 5.53 | -2.60 | 6.00 |
| Shares, diluted (wtd. avg.) | $973.0M | $1.13B | $1.37B | $1.45B | $1.47B | $1.44B | $1.44B | $1.43B | $1.49B | $1.57B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $20.95B | $19.87B | $21.92B | $21.95B | $23.54B | $23.12B | $22.94B | $23.50B | $17.85B | $15.16B |
| Short-term investments | $6.72B | $7.26B | $7.61B | $12.15B | $8.61B | $9.05B | $4.17B | $5.97B | $8.31B | $11.84B |
| Receivables | $13.05B | $12.83B | $12.38B | $13.33B | $7.39B | $8.04B | $6.80B | — | — | — |
| Inventory | $14.47B | $14.56B | $16.46B | $15.37B | $12.99B | $10.23B | $10.40B | $9.82B | $10.66B | $11.04B |
| Total current assets | $108.77B | $108.55B | $101.62B | $100.45B | $82.10B | $80.92B | $74.99B | $75.29B | $68.74B | $76.20B |
| Property, plant and equipment | — | — | — | $45.25B | $41.12B | $37.63B | $38.75B | $38.76B | $36.25B | $32.60B |
| Goodwill | $1.90B | $1.90B | $1.90B | $1.90B | $1.90B | $1.90B | $1.90B | $1.90B | $1.90B | $1.90B |
| Other intangibles | $2.45B | $2.65B | $2.94B | $3.03B | $3.17B | $3.32B | $3.48B | $3.72B | $3.99B | $4.29B |
| Total assets | $281.28B | $279.76B | $273.06B | $264.04B | $244.72B | $235.19B | $228.04B | $227.34B | $212.48B | $221.69B |
| Accounts payable | $23.92B | $25.68B | $28.11B | $27.49B | $20.39B | $19.93B | $21.02B | $22.30B | $23.93B | $23.33B |
| Total current liabilities | $93.34B | $96.27B | $94.44B | $91.17B | $74.41B | $79.91B | $84.91B | $82.24B | $76.89B | $85.18B |
| Total liabilities | $218.12B | $214.17B | $204.76B | $191.75B | $178.90B | $185.52B | $182.08B | $184.56B | $176.28B | $177.62B |
| Retained earnings | $51.52B | $53.47B | $55.39B | $49.25B | $41.94B | $31.96B | $26.86B | $22.32B | $17.63B | $26.17B |
| Total equity | $61.12B | $63.07B | $68.19B | $71.93B | $65.81B | $49.68B | $45.96B | $42.78B | $36.20B | $44.08B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $26.87B | $20.13B | $20.93B | $16.04B | $15.19B | $16.67B | $15.02B | $15.26B | $17.33B | $16.61B |
| Depreciation and amortisation | $11.98B | $11.46B | $11.74B | $11.28B | $12.05B | $12.68B | $14.06B | $13.14B | $11.97B | $9.69B |
| Capital expenditure | $9.30B | $10.83B | $10.97B | $9.24B | $7.51B | $5.30B | $7.59B | $8.76B | $8.45B | $8.38B |
| Investing cash flow | -$16.13B | -$20.52B | -$14.66B | -$17.88B | -$16.36B | -$21.83B | -$10.90B | -$20.76B | -$27.57B | -$35.64B |
| Financing cash flow | -$9.59B | $1.94B | -$6.35B | $383.0M | $1.74B | $5.55B | -$4.68B | $11.45B | $12.58B | $17.08B |
| Dividends paid | $657.0M | $653.0M | $597.0M | $397.0M | $186.0M | $669.0M | $2.35B | $2.24B | $2.23B | $2.37B |
| Buybacks | $6.01B | $7.06B | $11.12B | $2.50B | $0 | $90.0M | $0 | $190.0M | $4.49B | $2.50B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001467858-26-000022.
Others in SIC 3711
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| TSLA | Tesla, Inc. | $1.40T | 327.9x | -2.9% |
| PCAR | PACCAR INC | $65.64B | 27.6x | -15.5% |
| F | FORD MOTOR CO | $58.35B | — | 1.2% |
| RIVN | Rivian Automotive, Inc. / DE | $20.86B | — | 8.4% |
| OSK | OSHKOSH CORP | $9.79B | — | -2.9% |
| FSS | FEDERAL SIGNAL CORP /DE/ | $7.28B | 29.7x | 17.1% |
| LCID | Lucid Group, Inc. | $1.84B | — | 67.6% |
| SEV | Aptera Motors Corp | $65.7M | — | — |