General Motors (GM) Financial Report

General Motors (GM) Financial Ratios and Financial Statements Analyzed

Hey All,

Thanks for visiting my General Motors (GM) Financial Report page. On this page, you will be able to find preliminary information about GM's current financial performance as well as some historical track records and trends. 

For a more detailed examination of GM's financial performance, I offer two reports, which are "A Beginner's Guide to GM Financial Analysis" and "GM Financial Report by Paul Borosky, MBA."  Both reports are written by myself, Paul Borosky, MBA., Doctoral Candidate, and published author, and include:

  • Summarized income statements for the last 5 years.
  • Summarized balance sheets for the last 5 years.
  • Five years’ worth of over twenty common financial ratios presented with formulas, calculations, and analysis tips for each ratio.
  • Line by line description, explanation, and analysis tip for most financial statement line items and financial ratios.
  • Professional financial analysis tips are provided in each section to help YOU conduct your OWN financial analysis!
  • Each section includes an “in other words” segment.  This is where I use plain English to explain concepts.


For a MORE in-depth review of the company's financial statements and ratios, make sure to buy my "GM Financial Report".  The financial report includes all aspects of my "Beginner's Guide" plus a whole lot more...

  • Professional financial analysis of important income statements, balance sheets, and financial ratio trends.
  • "Letter Grade" is assigned to most financial statement line items and financial ratios to help you better understand their overall trends for the last 5 years (Starting in 2021).
  • Overall financial analysis summary for the company.

Enjoy the preliminary information and for a more detailed analysis, buy the financial report!


Paul, MBA.

PDF/Downloadable Versions

Beginner's Guide to General Motors 2021 Financial Analysis

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GM 2019 Financial Report by Paul Borosky, MBA.

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Sample Financial Report

Sample Financial Report by Paul Borosky, MBA.
Financial Report Sample 2

General Motors (GM): Brief Summary

General Motors (GM) is a car and truck manufacturer in Detroit, Michigan.  The organization specializes in designing, building, selling, and financing cars and trucks throughout the US and on a global basis.  Popular brands under GM control would include Buick, Cadillac, Chevrolet, GMC, and Wuling.

From a financial perspective, GM’s stock price has fluctuated between $30.33 to $67.21 in the last 52 weeks, ending August 2022.  The company’s last dividend payment was $0.38 back in March 2020.  The market capitalization rate for the company is approximately $57.739 billion.  As for the beta, it is 1.28.  This shows that the firm is moderately more risky of an investment as compared to the overall market.

General Motors (GM) Financial Report Sources

“General Motors (GM) 2019 Financial Report: Financial Statements and Financial Ratios: Defined, Discussed, and Analyzed for 5 Years” was written by Paul Borosky, MBA., and owner of Quality Business Plan.  In this report, I used GM's 2018 10k, GM's 2017 10k annual report, 2016 10k annual report, 2015 10k annual report, and GM's 2019 10k annual report as the basis for information gathering. 



Section 1: General Motors (GM) Income Statement Analyzed

In this section, I walk through a broad definition of what an income statement is and why it is essential.  From this, I then discuss and define income statement line items, such as revenues, gross profits, etc., in detail.  After each line item is defined and discussed, I finally offer a summary analysis of GM's significant income statement line item trends from 2015 to 2019, in most cases.

GM Revenue Growth.

General Motors ended 2015 with revenues of approximately $135.7 billion.  In the following year, the company would increase revenues to approximately $149 billion.  However, over the next three years, revenues fluctuated from $147 billion to $137.2 billion in 2019.  This trend indicates that the organization is having a difficult time attracting and retaining loyal customers in the automobile market.  On average, GM’s growth rate was .5%.  For a mature company, this would be slightly below average for growth.  From an investor’s perspective, this would be a little bit concerning.  I mean, $137 billion is a lot of money.  But however, this is significantly lower than in the previous three years.

General Motors (GM) 2021 Summary Income Statement



2020 2019 2018




                 122,485                  137,237                  147,049




                   97,539                  110,651                  120,656


Gross Profit


                   24,946                    26,586                    26,393




                     7,038                      8,491                      9,650




                   12,815                    14,118                    13,669


R & D                            -                            -                            -                            -                             -


                   11,274                    12,614                    12,298


Total Operating Expenses


                   31,127                    35,223                    35,617




                     6,634                      5,481                      4,445


Other Income                            -                            -                            -                            -                             -
Interest Expense


                     1,098                         782                         655




                     8,095                      7,436                      8,549




                     1,774                         769                         474


Net Income


                    6,427                     6,732                     8,014



Section 2: GM Balance Sheet Analyzed

For GM's balance sheet, I again go through each critical line item from the balance sheet.  In reviewing each line item, I will define GM's balance sheet line items, such as cash, property, plant and equipment, and liabilities.  Next, I then offer a summary analysis of GM's essential balance sheet line items.

GM's Cash Position.

General Motors ended 2015 with approximately $15.2 billion in cash.  In the following year, the cash position would fall to $12.6 billion.  However, in the next several years, their cash position would climb to $19 billion in 2019.  The cash position growth indicates that the firm needs more liquid assets to fund operations.  As compared to total assets, cash is approximately 8.4%.  Finally, as a percentage of sales, this would be 13.9%.

General Motors (GM) 2021 Summary Balance Sheet



2020 2019 2018




                 19,992                  19,069                  20,844


Short Term Investment


                   9,046                    4,174                    5,966


Account Receivable


                 34,244                  33,398                  33,399




                 10,235                  10,398                    9,816


Other                              -                         -                         -                         -                         -
Current Assets


               80,924                74,992                75,293




                 37,632                  38,750                  38,758




                   5,230                    5,337                    5,579


Other                              -                         -                         -                         -                         -
Total Assets


             235,194              228,037              227,339


Accounts Payable


                 19,928                  21,018                  22,297


Accrued Expense


                 23,069                  26,487                  28,049


Accrued Taxes                              -                         -                         -                         -                         -
Notes Payable                              -                         -                         -                         -                         -
LT Debt - Current


                 36,913                  37,400                  31,891


Other                         -                         -                         -                         -
Total Current Liabilities


                 79,910                  84,905                  82,237


LT Debt


                 72,981                  65,924                  73,060


Other                              -                         -                         -                         -                         -
Total Liabilities


             185,517              182,080              184,562


Common Stock


                 26,556                  26,074                  25,563


Treasury                              -                         -                         -                         -                         -
Retained Earnings


                 31,962                  26,860                  25,563


Other                              -                         -                         -                         -                         -
Total Equity


               49,677                45,957                42,777


Total Equity & Liability


             235,194              228,037              227,339



Section 3: General Motors (GM) Financial Ratios Analyzed

For this section, I have chosen several different financial ratios to review for GM.  In reviewing each of GM's financial ratios, I first start by defining the financial ratio.  Next, I supply the financial formula for calculating the specific ratio.  Finally, I offer a brief analysis of General Motors' Important Financial ratios. 

GM Current Ratio:

General Motors' current ratio ended 2015 at 1.09.  At this position, the company was well balanced because it had slightly more current assets as compared to current liabilities.  Over the next several years, the organization's current ratio would fall to .88 and 2019.  This indicates that the company is continually increasing its current liabilities as compared to current assets.  In doing this, the firm is continually increasing its risk for insolvency.  In some industries, such as retail, having a current ratio below 1.0 is acceptable because of the continuous cash flow.  In GM's case, having a current ratio below 1.0 for a sustained period of time is probably a risk that the organization should not be taken.

GM Total Asset Turnover:

GM ended 2015 with a total asset turnover of .70.  In the next five years, the company's total asset turnover would fall to .60.  This continued decline in total asset turnover shows that the firm is utilizing assets in the company.  The main driver for this problem would be its fixed assets.  In reviewing the fixed asset turnover, this ratio has been continually declining as well.  This means that the firm is not optimally using its plants and equipment.  To improve the fixed asset turnover, as well as the total asset turnover, the company needs to decide which plant and equipment are underutilized and divest the property accordingly.

GM Return on Assets:

GM's return on assets ended in 2015 at 4.94%.  In the next four years, the return assets would fall to 2.92.  This means that the company is making less money on assets controlled by management.  To improve upon this issue, again, GM's executive team needs to identify which assets may be divested.  Or, even better, identify how the company can improve sales while maintaining the status quo on assets held.

GM Debt ratio.

General Motors' debt ratio is relatively low.  Starting in 2015, its debt ratio was 22.4%.  In the next three years, their debt ratio would continually climb until it reached 32.1% in 2018.  However, in 2019, General Motors lowered its debt ratio back to 28.9%.  Most large organizations tend to have significant debt as compared to equity.  By having a prominent debt position, the organization can make money on borrowed money.

Further, the companies can exploit tax benefits for interest payments made.  A benefit of General Motors' low debt ratio is that they are in a better position to weather recessionary times.  A challenge is that the company needs more equity to maintain operations and have any chance at all for future growth.