Stock Analysis on Net
Stock Analysis on Net

General Motors Co. (NYSE:GM)

Common-Size Balance Sheet: Assets 
Quarterly Data

General Motors Co., common-size consolidated balance sheet: assets (quarterly data)

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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 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Cash and cash equivalents 7.29 7.10 8.21 7.96 6.38 6.90 8.95 8.37 6.83 7.25 7.96 6.59 6.50 8.20 7.28 9.48 9.06 8.50 11.24 11.88 15.61
Marketable debt securities 2.45 2.60 2.93 2.94 2.84 2.79 3.43 3.46 3.74 4.60 3.67 3.99 3.94 3.52 2.76 2.57 3.26 3.85 4.16 3.90 3.09
Accounts and notes receivable, net of allowance 5.29 4.58 4.76 4.74 4.98 4.53 4.94 5.10 5.13 5.05 5.38 4.90 4.75 3.02 3.39 3.38 3.83 3.42 4.15 3.35 3.06
GM Financial receivables, net of allowance 15.78 16.57 15.37 15.12 15.07 14.31 12.86 12.49 12.09 12.73 11.92 11.23 11.31 10.89 10.52 10.11 10.31 11.14 10.25 9.62 10.67
Inventories 5.41 5.21 5.99 6.22 6.34 6.03 6.30 6.49 6.65 5.82 6.28 6.65 5.90 5.31 6.09 5.42 5.06 4.35 4.56 4.33 4.38
Other current assets 2.77 2.74 2.64 2.63 2.89 2.65 2.83 2.81 2.58 2.59 2.50 2.57 2.83 2.61 2.57 3.21 2.91 3.15 2.85 3.76 2.81
Current assets 38.99% 38.80% 39.90% 39.60% 38.49% 37.21% 39.30% 38.72% 37.02% 38.04% 37.72% 35.93% 35.23% 33.55% 32.61% 34.16% 34.43% 34.41% 37.21% 36.84% 39.61%
GM Financial receivables, net of allowance 16.50 16.61 15.88 15.81 15.73 16.50 15.97 16.02 16.32 15.37 15.18 15.08 14.48 14.78 14.52 14.68 14.13 13.51 12.60 12.21 10.52
Equity in net assets of nonconsolidated affiliates 2.44 2.54 3.82 3.79 3.88 3.89 3.74 3.65 3.95 3.85 3.80 3.84 4.14 3.95 3.87 3.67 3.77 3.57 3.36 3.25 3.05
Property, net 18.48 18.55 17.80 18.08 18.59 18.43 17.54 17.38 17.56 17.14 16.43 16.54 16.58 16.80 16.62 16.06 15.85 16.00 15.43 15.60 15.40
Goodwill and intangible assets, net 1.60 1.63 1.64 1.69 1.74 1.78 1.74 1.79 1.86 1.87 1.91 1.98 2.01 2.08 2.15 2.14 2.17 2.22 2.19 2.22 2.12
Equipment on operating leases, net 11.43 11.29 10.70 10.72 10.88 11.20 11.03 11.44 11.93 12.39 12.97 13.93 14.55 15.50 16.62 16.79 16.92 16.93 16.42 16.67 16.74
Deferred income taxes 7.53 7.60 7.26 7.45 7.85 8.18 7.20 7.48 7.74 7.78 7.90 8.30 8.46 8.64 9.32 9.27 9.68 10.26 10.00 10.38 9.91
Other assets 3.04 2.98 3.00 2.85 2.83 2.81 3.48 3.51 3.62 3.55 4.10 4.40 4.55 4.69 4.28 3.23 3.04 3.09 2.79 2.83 2.65
Non-current assets 61.01% 61.20% 60.10% 60.40% 61.51% 62.79% 60.70% 61.28% 62.98% 61.96% 62.28% 64.07% 64.77% 66.45% 67.39% 65.84% 65.57% 65.59% 62.79% 63.16% 60.39%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets shows a general declining trend from 15.61% in March 2020 to around 7.29% by March 2025, with some fluctuations. Initial quarters exhibit a more pronounced decrease, stabilizing around 7-8% in later periods.
Marketable debt securities
This asset class maintains a relatively stable percentage, fluctuating modestly between approximately 2.45% and 4.16% over the entire period, without a strong upward or downward trend.
Accounts and notes receivable, net of allowance
The percentage of receivables generally increases from 3.06% in early 2020 to a peak around 5.38% in late 2022, followed by slight variations but remaining near the 5% level through early 2025, indicating moderate growth in receivables relative to total assets.
GM Financial receivables, net of allowance
This category demonstrates a clear upward trend, increasing steadily from around 10.67% in early 2020 to 15.78% by March 2025, reflecting a growing share of these financial receivables in the asset base. The increase is gradual but consistent over the analyzed time frame.
Inventories
Inventory levels as a percentage of assets increased from 4.38% in March 2020 to a high near 6.65% in mid-2022, before experiencing a slow decrease toward approximately 5.41% by March 2025. This suggests an accumulation phase followed by some inventory reduction or stabilization.
Other current assets
This component remains relatively steady, ranging between roughly 2.5% and 3.0% throughout the entire period, showing minor fluctuations but no significant trend.
Current assets
Overall current assets hold a sizeable portion of total assets, fluctuating mostly between 34% and 40%, with a slight decline at the beginning, recovery around 2022, and fairly stable levels thereafter up to 39%.
Equity in net assets of nonconsolidated affiliates
The share slightly increases from around 3.05% in March 2020 to peak near 3.95% in late 2021, followed by a gradual decline to approximately 2.44% by March 2025, indicating decreased investment or valuation in affiliates over time.
Property, net
Property assets consistently represent a stable and significant portion of total assets. There is a moderate increase from 15.4% in early 2020 to approximately 18.48% by March 2025, suggesting ongoing investment or appreciation in property holdings.
Goodwill and intangible assets, net
This category decreases slowly from 2.12% in early 2020 to about 1.6% by March 2025, indicating possible amortization, impairment, or disposal of intangible assets over the period.
Equipment on operating leases, net
There is a noticeable declining trend in operating lease equipment from 16.74% in March 2020 to roughly 11.43% by March 2025, reflecting a reduction in assets held under operating leases.
Deferred income taxes
The percentage represented by deferred income taxes decreases over time, falling from close to 9.91% in early 2020 to about 7.53% in early 2025, indicative of changing tax positions and timing differences.
Other assets
Other assets show a slight increase from 2.65% in early 2020 to a peak around 4.69% in late 2021, subsequently declining to near 3.04% by early 2025, suggesting fluctuations in miscellaneous asset categories.
Non-current assets
Non-current assets maintain a dominant share, generally around 60% to 66% of total assets, with a modest downward movement toward the later period, associated with shifts in specific asset components such as property and equipment.