General Motors Co. (NYSE:GM)

The quarterly financial analysis reveals several notable trends in the asset composition and structure over the observed periods.

Cash and Cash Equivalents

This category as a percentage of total assets exhibits a generally declining trend from a high of 15.61% in the first quarter of 2020 to a range mostly between 6% and 9% thereafter. There are occasional minor increases, but the overall trajectory suggests a reduction in liquidity relative to total assets over the long term.

Marketable Debt Securities

This asset class fluctuates moderately between approximately 2.3% and 4.2%. There is no distinct upward or downward trend, indicating a relatively stable allocation to marketable debt securities throughout the period.

Accounts and Notes Receivable, Net

The proportion of accounts and notes receivable shows some variability but generally increases from around 3% in early 2020 to nearly 6% by late 2025. This suggests a gradual increase in credit extended to customers or timing of receivables relative to total assets.

GM Financial Receivables, Net

This item sees a steady increase from roughly 10.5% at the start of the period to peaks above 16% toward 2025. The growth indicates an expanding portfolio of financial receivables within the asset base, which may imply increased financing activities or growth in financial services operations.

Inventories

Inventory levels as a percentage of total assets exhibit a moderate upward trend from about 4.3% in early 2020 to a peak near 6.6% in mid-2023 before tapering slightly to around 5.3-5.4% toward 2025. This pattern could reflect changes in production volumes, supply chain dynamics, or stock management strategies.

Other Current Assets

The allocation to other current assets fluctuates between roughly 2.5% and 3%, showing minor periodic shifts but remaining relatively stable throughout the timeframe.

Current Assets (Aggregate)

The aggregate current assets as a percentage of total assets decline from nearly 40% in early 2020 to a low of about 32.6% in late 2021, followed by a recovery and stabilization near 39-40% in later periods. This fluctuation reflects the interplay of changes in cash, receivables, inventories, and other current assets.

Equity in Net Assets of Nonconsolidated Affiliates

This component grows modestly from about 3% to close to 4% in 2021 then experiences a notable decline to about 2.1-2.5% towards 2025, indicating a diminishing stake or valuation in affiliated entities relative to total assets over the latter periods.

Property, Net

The net property asset percentage remains relatively stable, ranging mostly from about 15% to 18.5%, with a mild upward slope toward the end of the period. This consistency indicates sustained investment in property assets with moderate growth.

Goodwill and Intangible Assets, Net

There is a gradual decline from slightly above 2.1% to about 1.5% by the end of the analyzed period, implying possible amortization or impairment effects or slower growth of intangible assets relative to total assets.

Equipment on Operating Leases, Net

This asset category shows a clear decreasing trend from nearly 17% in early 2020 to about 11-12% later on, suggesting a reduction in leased equipment assets either due to disposals, depreciation, or strategic shifts away from leasing activities.

Deferred Income Taxes

The deferred income taxes as a proportion of total assets decline moderately from nearly 10% to about 7.5%, indicating changes in tax-related asset recognition or differences in deferred tax balance dynamics.

Other Assets

Other assets fluctuate between approximately 2.6% and 4.7%, increasing notably around 2021 before settling in the 2.7%-3.7% range toward 2025, suggesting some volatility but no sustained directional movement.

Non-Current Assets (Aggregate)

Non-current assets maintain a dominant share of total assets, varying between about 60% and 67%, with a general slight decline after peaking in 2021. This indicates a slight gradual shift toward a higher proportion of current assets in recent periods.

Total Assets

As all asset components are expressed as percentages of total assets, the total asset base is consistently normalized to 100% throughout the timeframe.

Overall, the analysis indicates a trend toward decreasing liquidity as measured by cash and equivalents, coupled with growth in financial receivables. Inventory levels have increased moderately but then somewhat receded. Non-current assets remain the majority portion but have seen slight reduction relative to total assets, with lease equipment declining significantly. The diversification within the asset base suggests strategic shifts that may reflect changing operational or financial priorities over the period analyzed.