Stock Analysis on Net
Stock Analysis on Net

General Motors Co. (NYSE:GM)

$24.99

Return on Equity (ROE)
since 2010

Microsoft Excel

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Calculation

General Motors Co., ROE, long-term trends, calculation

Microsoft Excel
ROE = 100 × Net income (loss) attributable to stockholders1 ÷ Stockholders’ equity1
Dec 31, 2025 = 100 × ÷
Dec 31, 2024 = 100 × ÷
Dec 31, 2023 = 100 × ÷
Dec 31, 2022 = 100 × ÷
Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
Dec 31, 2018 = 100 × ÷
Dec 31, 2017 = 100 × ÷
Dec 31, 2016 = 100 × ÷
Dec 31, 2015 = 100 × ÷
Dec 31, 2014 = 100 × ÷
Dec 31, 2013 = 100 × ÷
Dec 31, 2012 = 100 × ÷
Dec 31, 2011 = 100 × ÷
Dec 31, 2010 = 100 × ÷

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$ in millions

The return on equity (ROE) exhibited considerable fluctuation over the period examined. Initial values demonstrated a strong performance, followed by periods of decline and subsequent recovery, ultimately concluding with a noticeable downward trend in the most recent years.

Overall Trend
From 2010 to 2015, ROE generally increased, peaking at 24.30% in 2015. A significant downturn occurred in 2017, resulting in a negative ROE of -11.04%. Following this, ROE recovered to over 20% in 2018 before stabilizing in the mid-teens for several years. The period from 2020 to 2025 shows a consistent decline, ending at 4.41% in 2025.
Early Period (2010-2015)
The initial years showed a positive trajectory in ROE. Starting at 17.06% in 2010, it rose to a high of 24.30% in 2015. This growth coincided with increasing net income attributable to stockholders, although stockholders’ equity also experienced fluctuations during this time. The relationship between net income and equity suggests that improvements in profitability were the primary driver of the ROE increase.
Mid-Period Volatility (2016-2019)
The period between 2016 and 2019 was characterized by volatility. While ROE remained relatively high in 2016 and 2018, the substantial loss in 2017 dramatically reduced ROE to a negative value. The recovery in 2018 indicates a significant rebound in net income, offsetting the prior year’s loss. Stockholders’ equity also experienced a decrease in 2017, exacerbating the negative ROE.
Recent Decline (2020-2025)
From 2020 to 2025, a clear downward trend in ROE is observed. Despite generally positive net income, the rate of increase in stockholders’ equity outpaced the growth in net income, leading to a diminishing ROE. The decline accelerated in the final two years, with ROE falling to 9.53% in 2024 and 4.41% in 2025. This suggests a potential issue with capital efficiency or a shift in the company’s investment strategy.

The fluctuations in ROE appear to be closely linked to both net income and changes in stockholders’ equity. Periods of strong profitability generally correlate with higher ROE, while losses or rapid equity growth can suppress it. The recent decline warrants further investigation to determine the underlying causes and potential implications for future performance.

Comparison to Competitors

General Motors Co., ROE, long-term trends, comparison to competitors

Microsoft Excel
General Motors Co. Ford Motor Co. Tesla Inc.
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010

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 Sector (Automobiles & Components)

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

Microsoft Excel
General Motors Co. Automobiles & Components
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010

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., ROE, long-term trends, comparison to industry (consumer discretionary)

Microsoft Excel
General Motors Co. Consumer Discretionary
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010

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).