Stock Analysis on Net

General Motors Co. (NYSE:GM)

$24.99

Price to Earnings (P/E)
since 2010

Microsoft Excel

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Calculation

General Motors Co., P/E, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).

1 US$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of General Motors Co. Annual Report.


The price-to-earnings (P/E) ratio for the observed period exhibits considerable fluctuation. Initially, the ratio decreased from 11.02 in 2011 to a low of 5.46 in 2012, before experiencing a moderate increase to 7.81 in 2013. A subsequent rise was noted, peaking at 20.58 in 2015, followed by a sharp decline to 4.61 in 2016. The ratio then demonstrated a period of relative stability, fluctuating between approximately 5.58 and 7.90 from 2017 to 2019. A further increase occurred in 2021, reaching 12.66, before decreasing again to 6.15 in 2022 and 4.39 in 2023. The most recent observations show a significant increase to 24.55 in 2025.

Overall Trend
The P/E ratio does not demonstrate a consistent long-term trend. Instead, it is characterized by periods of increase and decrease, suggesting sensitivity to changes in share price and earnings per share. The latter part of the observed period, particularly 2024 and 2025, shows a marked increase in the ratio.
Relationship to Earnings Per Share
The P/E ratio’s fluctuations correlate with changes in earnings per share. The low P/E ratios in 2012 and 2016 coincide with periods of relatively high earnings per share, while the peak in 2015 corresponds to a period of lower earnings. The substantial increase in the P/E ratio in 2025 appears to be driven by a decrease in earnings per share, while the share price increased significantly.
Volatility
The P/E ratio exhibits significant volatility throughout the period. This suggests that investor sentiment and expectations regarding future earnings are subject to change. The range between the lowest and highest P/E ratios observed is substantial, indicating a considerable degree of risk and uncertainty associated with the company’s valuation.
Recent Developments
The most recent years, 2023, 2024 and 2025, show a distinct pattern. While the P/E ratio decreased in 2023, it has increased substantially in 2025. This suggests a shift in market perception, potentially driven by factors not reflected in the earnings per share alone, such as anticipated future growth or changes in industry dynamics.

Comparison to Competitors


Comparison to Sector (Automobiles & Components)

General Motors Co., P/E, long-term trends, comparison to sector (automobiles & components)

Microsoft Excel

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).


Comparison to Industry (Consumer Discretionary)

General Motors Co., P/E, long-term trends, comparison to industry (consumer discretionary)

Microsoft Excel

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).