Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Paying user area
Try for free
General Motors Co. pages available for free this week:
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2010
- Total Asset Turnover since 2010
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to General Motors Co. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Long-term Activity Ratios (Summary)
General Motors Co., long-term (investment) activity ratios (quarterly data)
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
The investment activity ratios demonstrate generally positive trends over the observed period, indicating increasing efficiency in asset utilization. Both net fixed asset turnover and total asset turnover exhibit improvements, while equity turnover shows more pronounced fluctuations but ultimately trends upward. These observations span from March 31, 2022, to December 31, 2025.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio shows a consistent upward trend, beginning at 2.81 in March 2022 and reaching 3.30 in March 2025. While there are minor quarterly variations, the overall movement suggests increasing efficiency in generating revenue from fixed assets. A slight dip is observed in December 2023 (3.13) before resuming the upward trajectory. The ratio concludes the period at 3.25 in December 2025.
- Total Asset Turnover
- Total asset turnover also demonstrates a positive trend, albeit a more gradual one. Starting at 0.47 in March 2022, the ratio increases to 0.60 by December 2025. The most significant increase occurs between December 2022 (0.58) and December 2024 (0.61). Similar to net fixed asset turnover, minor fluctuations are present, but the overall direction is clearly upward, indicating improved efficiency in utilizing all assets to generate sales.
- Equity Turnover
- Equity turnover exhibits the most volatility of the three ratios. It begins at 1.89 in March 2022, rises to a peak of 2.72 in December 2024, and then experiences a slight decline to 2.75 in December 2025. The substantial increase between September 2022 (2.12) and December 2024 (2.72) suggests a significant improvement in revenue generation relative to equity. The subsequent decrease in the final quarter is minimal and does not negate the overall positive trend. The ratio fluctuates between 1.86 and 2.68 throughout the period.
In summary, the observed ratios suggest a strengthening ability to generate revenue from both fixed assets, total assets, and equity over the analyzed timeframe. The increases in these ratios generally indicate improved operational efficiency and effective asset management.
Net Fixed Asset Turnover
General Motors Co., net fixed asset turnover calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||
| Automotive net sales and revenue | |||||||||||||||||||||
| Property, net | |||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||
| Net fixed asset turnover1 | |||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||
| Ford Motor Co. | |||||||||||||||||||||
| Tesla Inc. | |||||||||||||||||||||
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q4 2025 Calculation
Net fixed asset turnover
= (Automotive net sales and revenueQ4 2025
+ Automotive net sales and revenueQ3 2025
+ Automotive net sales and revenueQ2 2025
+ Automotive net sales and revenueQ1 2025)
÷ Property, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The net fixed asset turnover ratio exhibits a generally positive trend over the observed period, with some quarterly fluctuations. Initially, the ratio demonstrates modest growth from 2.81 in March 2022 to 2.84 in June 2022, followed by a more pronounced increase to 3.14 in September 2022 and peaking at 3.18 in December 2022. This suggests increasing efficiency in utilizing fixed assets to generate revenue during this timeframe.
- Initial Growth & Stabilization (Mar 2022 - Dec 2022)
- The ratio experienced its most significant gains in the latter half of 2022. This period likely reflects increased sales volume and/or improved operational efficiency in converting fixed asset investments into revenue. The ratio stabilized around the 3.1 level in the first half of 2023.
From March 2023 through September 2023, the ratio continued to fluctuate, reaching a high of 3.26 in June 2023 before slightly decreasing to 3.20 in September 2023. A minor decline to 3.13 was observed in December 2023, but the ratio recovered in the following quarters.
- Continued Fluctuations & Recent Performance (Mar 2023 - Dec 2025)
- The period from March 2023 to December 2025 shows continued variability, but generally remains above the levels observed in the first half of 2022. The ratio peaked at 3.31 in December 2023, indicating a strong ability to generate sales from fixed assets. Subsequent quarters saw a slight decrease, but the ratio remained consistently above 3.25, concluding at 3.25 in December 2025. This suggests sustained, albeit slightly moderated, efficiency in fixed asset utilization.
Overall, the net fixed asset turnover ratio demonstrates a positive trajectory, indicating improved efficiency in generating revenue from fixed asset investments. While quarterly fluctuations exist, the ratio consistently remains above 3.1, suggesting a stable and effective utilization of property, net, to drive automotive net sales and revenue.
Total Asset Turnover
General Motors Co., total asset turnover calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||
| Automotive net sales and revenue | |||||||||||||||||||||
| Total assets | |||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||
| Total asset turnover1 | |||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||
| Ford Motor Co. | |||||||||||||||||||||
| Tesla Inc. | |||||||||||||||||||||
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q4 2025 Calculation
Total asset turnover
= (Automotive net sales and revenueQ4 2025
+ Automotive net sales and revenueQ3 2025
+ Automotive net sales and revenueQ2 2025
+ Automotive net sales and revenueQ1 2025)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The total asset turnover ratio for the analyzed period demonstrates a generally increasing trend, with some quarterly fluctuations. Initially, the ratio remained consistent at 0.47 for the first two quarters. Subsequent periods show improvement, peaking in the fourth quarter of 2023 and the first quarter of 2025 before stabilizing.
- Overall Trend
- From March 31, 2022, to December 31, 2025, the total asset turnover ratio generally increased from 0.47 to 0.60. This suggests a growing efficiency in utilizing assets to generate revenue. The most significant increase occurred between the first and fourth quarters of 2022, and again between the fourth quarter of 2022 and the first quarter of 2023.
- Quarterly Fluctuations
- While the overall trend is positive, the ratio experienced some quarterly variability. A slight decrease was observed between September 30, 2023 (0.56) and December 31, 2023 (0.58), followed by a slight decrease between March 31, 2024 (0.58) and June 30, 2024 (0.58). A minor decline is also visible between September 30, 2025 (0.59) and December 31, 2025 (0.60). These fluctuations may be attributable to seasonal sales patterns or changes in asset composition.
- Peak Performance
- The highest ratio values were recorded in the fourth quarter of 2023 (0.58) and the first quarter of 2025 (0.61). These periods indicate the most effective asset utilization during the observed timeframe. The ratio remained relatively stable at 0.58-0.61 for the last six quarters of the analyzed period.
- Relationship to Sales
- The increase in the total asset turnover ratio generally aligns with increases in automotive net sales and revenue. However, the relationship is not perfectly linear, suggesting that factors beyond sales volume, such as changes in inventory management or asset efficiency, also contribute to the ratio’s performance.
Equity Turnover
General Motors Co., equity turnover calculation (quarterly data)
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||
| Automotive net sales and revenue | |||||||||||||||||||||
| Stockholders’ equity | |||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||
| Equity turnover1 | |||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||
| Ford Motor Co. | |||||||||||||||||||||
| Tesla Inc. | |||||||||||||||||||||
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q4 2025 Calculation
Equity turnover
= (Automotive net sales and revenueQ4 2025
+ Automotive net sales and revenueQ3 2025
+ Automotive net sales and revenueQ2 2025
+ Automotive net sales and revenueQ1 2025)
÷ Stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The equity turnover ratio for the analyzed period demonstrates a generally increasing trend with some quarterly fluctuations. Initially, the ratio stood at 1.89 and 1.86 in the first two quarters, indicating that for every dollar of equity, approximately $1.89 and $1.86 in automotive net sales and revenue were generated, respectively. A subsequent increase is observed, peaking at 2.75 in the final quarter of the analyzed period.
- Overall Trend
- From March 31, 2022, through December 31, 2025, the equity turnover ratio generally increased. The most significant increase occurred between September 30, 2023 (2.12) and December 31, 2023 (2.45), and again between December 31, 2024 (2.36) and December 31, 2025 (2.75). This suggests a growing efficiency in utilizing equity to generate sales.
- Quarterly Fluctuations
- While the overall trend is upward, quarterly variations are present. A decrease is noted between December 31, 2022 (2.12) and March 31, 2023 (2.12), followed by a slight increase. A more pronounced decrease is observed between September 30, 2024 (2.36) and December 31, 2024 (2.36), before the final increase. These fluctuations may be attributable to seasonal sales patterns or other operational factors.
- Relationship to Sales
- The ratio’s increase generally aligns with increases in automotive net sales and revenue, although the correlation isn’t perfectly linear. For example, revenue decreased from September 30, 2023, to December 31, 2023, but the equity turnover ratio increased significantly. This suggests that changes in equity also play a role in the ratio’s movement. The ratio’s increase from 2.41 in March 31, 2024, to 2.72 in December 31, 2024, occurred alongside a decrease in stockholders’ equity.
- Stockholders’ Equity Impact
- Stockholders’ equity experienced an overall increase throughout the period, but with a notable decrease between September 30, 2022 (74,475) and December 31, 2022 (64,286). This decrease in equity, coupled with relatively stable sales, contributed to the higher equity turnover ratio observed in the latter part of 2022 and early 2023. The ratio’s final increase is also partially attributable to a decrease in stockholders’ equity.
In summary, the equity turnover ratio indicates improving efficiency in generating sales from equity investments over the analyzed period, despite some quarterly variability. The ratio’s movement is influenced by both changes in sales and fluctuations in stockholders’ equity.