Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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General Motors Co. pages available for free this week:
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Current Ratio since 2010
- Price to Earnings (P/E) since 2010
- Price to Sales (P/S) since 2010
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General Motors Co., consolidated income statement (quarterly data)
US$ in millions
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).
- Automotive Net Sales and Revenue
- The automotive net sales and revenue showed significant volatility in 2020, dropping sharply in the second quarter before recovering strongly by the fourth quarter. From 2021 onward, there is a generally increasing trend with occasional fluctuations, peaking in the third quarter of 2022. Revenue stabilizes toward the end of 2023 and early 2024, before showing a mild decline in the last quarter presented.
- Automotive and Other Cost of Sales
- Costs of sales follow a pattern similar to revenues, decreasing substantially in early 2020 and then steadily increasing thereafter. The costs closely track revenue fluctuations, with notable spikes in the latter half of 2022 and late 2024, indicating rising production or operational expenses during these periods.
- Automotive and Other Gross Margin
- Gross margin displays substantial improvement following the deep trough in mid-2020, recovering strongly and maintaining relatively high levels throughout 2021 and 2022. Margins dip in late 2023 but rebound markedly in early 2024. This pattern indicates effective cost management and pricing power after the pandemic-related downturn, although some variability persists.
- GM Financial Net Sales and Revenue
- GM Financial net sales and revenue remain relatively stable across the entire period, with a slight upward trend from 2022 onwards. This suggests steady performance in the financial segment, with marginal growth in loan or credit-related activities.
- GM Financial Interest, Operating and Other Expenses
- Expenses for GM Financial decreased notably in 2020, particularly the third quarter, before gradually increasing from 2021 forward. This reflects cost discipline combined with expanding operational scale or complexity over time.
- Automotive and Other Selling, General and Administrative Expense
- SG&A expenses exhibit substantial fluctuations, reaching a low point in mid-2020, then increasing significantly with some peak values in late 2022 and late 2024, which may correspond to increased marketing, administrative costs, or investments in innovation and market expansion.
- Operating Income (Loss)
- Operating income illustrates a recovery trajectory, with losses in early 2020 followed by positive gains peaking in quarters of 2020 and 2022. The trend includes dips, notably in early 2024, but overall shows profitable operations sustained through most of the periods.
- Automotive Interest Expense
- Interest expense steadily declines over time from 2020 through 2025, indicating reduced debt service costs or better financing terms that improve financial leverage and profitability.
- Interest Income and Other Non-Operating Income, Net
- Interest income and other non-operating income are volatile, with high levels in early 2020, a decline in 2022, and recovery thereafter. Variability in this line may reflect changing investment income or other occasional gains/losses outside core operations.
- Equity Income (Loss)
- Equity income generally remains positive from 2020 to 2021, decreases substantially in 2022 with a notable negative spike in late 2024, before recovering slightly. This indicates mixed performance or impairments associated with equity-method investments during the period.
- Income (Loss) Before Income Taxes
- Pre-tax income reflects substantial volatility with a sharp loss in mid-2020, recovery to high profits mid-2020 through 2022, and moderate fluctuations thereafter. The negative value in early 2025 warrants attention as an unusual event disrupting profitability.
- Income Tax Expense (Benefit)
- Income tax expense closely mirrors pre-tax profits but shows negative values in some quarters, indicating tax benefits or refunds during loss periods. Tax expenses fluctuate substantially with taxable earnings variances, altering effective tax rates quarter to quarter.
- Net Income (Loss)
- Net income trends align with operating and pre-tax income patterns, showing recovery after turbulent 2020, stable profitability through 2021 and 2022, and fluctuations with both positive earnings and losses in 2024 and early 2025. The sharp loss recorded in early 2025 is a significant anomaly.
- Net Income Attributable to Stockholders
- The income attributable to stockholders closely follows overall net income trends with volatility in 2020 and generally steady profitability thereafter. The notable losses and recoveries in 2024 suggest episodic operational or financial challenges impacting shareholder returns.
- Cumulative Dividends on Subsidiary Preferred Stock
- Dividend payments to preferred stockholders remain mostly consistent and negative, with abrupt large positive values in late 2024, indicating unusual dividend settlements or adjustments during that period requiring closer examination.
- Net Income Attributable to Common Stockholders
- Net income attributable to common stockholders shows a recovery from the negative second quarter of 2020 to generally positive and growing values through 2023 and early 2024. The sudden large negative income in the first quarter of 2025 contrasts sharply with prior trends, suggesting an atypical event impacting common shareholder earnings.