Analysis of Geographic Areas
General Motors Co. operates in 2 regions: U.S. and Non-U.S..
Paying user area
Try for free
General Motors Co. pages available for free this week:
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2010
- Total Asset Turnover since 2010
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to General Motors Co. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Area Asset Turnover
General Motors Co., asset turnover by geographic area
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| U.S. | |||||
| Non-U.S. |
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).
Asset turnover ratios for the geographic areas presented demonstrate an overall positive trend from 2021 to 2025, though with some variation. The U.S. region consistently exhibits a higher ratio than the Non-U.S. region throughout the observed period.
- U.S. Asset Turnover
- The U.S. asset turnover ratio increased from 1.69 in 2021 to 2.40 in 2024, representing a substantial improvement in asset utilization. However, a slight decrease to 2.29 is observed in 2025. This suggests a peak in efficiency in 2024, followed by a modest pullback. The overall trend remains positive, indicating improved revenue generation relative to assets employed within the U.S. market.
- Non-U.S. Asset Turnover
- The Non-U.S. asset turnover ratio also shows a consistent upward trend, albeit at a slower pace than the U.S. region. The ratio rose from 1.29 in 2021 to 1.74 in 2025. This indicates a gradual improvement in the efficiency of asset utilization in non-U.S. markets. The increase, while positive, remains below the levels observed in the U.S.
- Comparative Analysis
- The difference between the U.S. and Non-U.S. asset turnover ratios narrowed from 0.40 in 2021 to 0.55 in 2025. This suggests that asset utilization in Non-U.S. markets is improving and approaching, but not yet reaching, the efficiency levels seen in the U.S. The consistently higher ratio in the U.S. may reflect differences in market conditions, operational strategies, or asset composition.
In summary, both geographic areas demonstrate improving asset turnover ratios over the five-year period. The U.S. region consistently outperforms the Non-U.S. region in terms of asset utilization, although the gap between the two regions appears to be gradually decreasing.
Area Asset Turnover: U.S.
General Motors Co.; U.S.; area asset turnover calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales and revenue | |||||
| Long-lived assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
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).
1 2025 Calculation
Area asset turnover = Net sales and revenue ÷ Long-lived assets
= ÷ =
The financial performance related to asset utilization within the U.S. geographic area demonstrates a generally positive trend over the observed period. Net sales and revenue increased significantly from 2021 to 2024, with a slight decrease in 2025. Simultaneously, long-lived assets experienced moderate fluctuations, ultimately increasing over the five-year period. This interplay is reflected in the area asset turnover ratio.
- Net Sales and Revenue
- Net sales and revenue exhibited substantial growth, increasing from US$104,483 million in 2021 to US$154,111 million in 2024, representing a cumulative increase of approximately 47.6%. A minor decline to US$152,685 million was noted in 2025, suggesting a potential stabilization or slight contraction in sales momentum.
- Long-Lived Assets
- Long-lived assets remained relatively stable between 2021 and 2023, fluctuating around US$60 billion. A noticeable increase occurred in 2024, reaching US$64,115 million, and continued into 2025, reaching US$66,793 million. This suggests ongoing investment in assets within the U.S. area.
- Area Asset Turnover
- The area asset turnover ratio increased consistently from 1.69 in 2021 to 2.40 in 2024, indicating improving efficiency in generating sales from the asset base. This represents a 42.0% increase over the period. A slight decrease to 2.29 was observed in 2025, coinciding with the minor decline in net sales and revenue, but the ratio remained significantly higher than the 2021 level. The increasing trend suggests effective asset management and utilization within the U.S. market.
Overall, the U.S. area demonstrates a positive trend in asset utilization, with increasing sales and a corresponding rise in the asset turnover ratio. The slight decrease in both sales and the turnover ratio in 2025 warrants monitoring to determine if it represents a temporary fluctuation or the beginning of a new trend.
Area Asset Turnover: Non-U.S.
General Motors Co.; Non-U.S.; area asset turnover calculation
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales and revenue | |||||
| Long-lived assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
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).
1 2025 Calculation
Area asset turnover = Net sales and revenue ÷ Long-lived assets
= ÷ =
Analysis of the presented financial information reveals a consistent upward trend in area asset turnover for the non-U.S. regions between 2021 and 2025. This suggests increasing efficiency in asset utilization within these areas. Simultaneously, net sales and revenue demonstrate growth over the same period, although with a slight decrease in the final year. Long-lived assets also exhibit a general increase, but at a slower pace than revenue, contributing to the improved turnover ratio.
- Net Sales and Revenue
- Net sales and revenue increased from US$22,521 million in 2021 to US$33,331 million in 2024, representing a substantial growth trajectory. However, a slight decline to US$32,335 million is observed in 2025. This suggests potential market saturation or increased competitive pressures in the final year of the analyzed period.
- Long-Lived Assets
- Long-lived assets increased from US$17,400 million in 2021 to US$19,374 million in 2024, indicating investment in the non-U.S. regions. A decrease to US$18,577 million is noted in 2025, potentially due to asset disposals or depreciation exceeding new investments.
- Area Asset Turnover
- The area asset turnover ratio increased steadily from 1.29 in 2021 to 1.74 in 2025. This indicates that the company is generating more revenue per dollar of long-lived assets in its non-U.S. operations. The consistent improvement suggests effective management of assets and a growing ability to translate investments into sales. The increase from 1.72 in 2024 to 1.74 in 2025, while small, continues the positive trend despite the slight revenue decrease.
Overall, the non-U.S. regions demonstrate improving operational efficiency as evidenced by the rising asset turnover ratio. While revenue growth slows and slightly declines in the final year, the company continues to generate more sales from its existing asset base, suggesting effective asset management practices. Further investigation into the factors driving the 2025 revenue decline would be beneficial.
Net sales and revenue
General Motors Co., net sales and revenue by geographic area
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| U.S., Automotive | |||||
| U.S., GM Financial | |||||
| U.S. | |||||
| Non-U.S., Automotive | |||||
| Non-U.S., GM Financial | |||||
| Non-U.S. | |||||
| Total consolidated |
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).
The financial performance across geographic areas demonstrates a consistent pattern of growth followed by a stabilization in recent periods. Total consolidated net sales and revenue experienced growth from 2021 to 2024, with a slight decrease in 2025. This overall trend is largely driven by performance within the U.S. market, while international markets show a similar growth trajectory but at a smaller scale.
- U.S. Automotive Performance
- Net sales from the U.S. Automotive segment increased steadily from US$92.771 billion in 2021 to US$140.536 billion in 2024, representing a significant expansion. However, 2025 saw a modest decline to US$138.108 billion. This suggests a potential plateauing of growth within the domestic automotive market.
- U.S. GM Financial Performance
- The U.S. GM Financial segment also exhibited growth, increasing from US$11.712 billion in 2021 to US$14.577 billion in 2025. This growth was consistent year-over-year, indicating a stable contribution from the financial services arm within the U.S.
- Total U.S. Performance
- Combined U.S. revenue, encompassing both automotive and financial segments, increased from US$104.483 billion in 2021 to US$154.111 billion in 2024, before decreasing slightly to US$152.685 billion in 2025. The U.S. market remains the dominant revenue generator.
- Non-U.S. Automotive Performance
- Net sales from Non-U.S. Automotive operations increased from US$20.819 billion in 2021 to US$31.070 billion in 2024, followed by a slight decrease to US$29.863 billion in 2025. While growth is evident, the scale remains considerably smaller than the U.S. automotive segment.
- Non-U.S. GM Financial Performance
- The Non-U.S. GM Financial segment demonstrated consistent growth, rising from US$1.702 billion in 2021 to US$2.472 billion in 2025. This indicates a strengthening financial services presence in international markets.
- Total Non-U.S. Performance
- Total revenue from Non-U.S. operations increased from US$22.521 billion in 2021 to US$33.331 billion in 2024, with a slight decline to US$32.335 billion in 2025. The Non-U.S. market contributes a substantial portion to overall revenue, though less than the U.S.
- Consolidated Performance
- Total consolidated net sales and revenue increased from US$127.004 billion in 2021 to US$187.442 billion in 2024, before experiencing a minor decrease to US$185.020 billion in 2025. The 2025 decrease suggests a potential shift in overall growth momentum.
In summary, the period from 2021 to 2024 was characterized by robust growth across all geographic segments. However, the year 2025 indicates a potential stabilization or slight contraction in revenue, particularly within the U.S. automotive market. The Non-U.S. markets continue to demonstrate growth, albeit at a smaller scale compared to the U.S.
Long-lived assets
General Motors Co., long-lived assets by geographic area
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |
|---|---|---|---|---|---|
| U.S., Automotive | |||||
| U.S., GM Financial | |||||
| U.S. | |||||
| Non-U.S., Automotive | |||||
| Non-U.S., GM Financial | |||||
| Non-U.S. | |||||
| Total consolidated |
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).
The long-lived asset values demonstrate distinct trends across geographic areas between 2021 and 2025. Overall, total consolidated long-lived assets experienced moderate growth, though not consistently year-over-year. A closer examination of the U.S. and Non-U.S. segments reveals differing patterns within automotive and financial operations.
- U.S. Automotive
- U.S. Automotive long-lived assets exhibited a consistent upward trend throughout the period, increasing from US$27,192 million in 2021 to US$37,231 million in 2025. The rate of increase appeared to moderate in later years, with smaller gains from 2023 to 2025 compared to earlier periods.
- U.S. GM Financial
- In contrast to the automotive segment, U.S. GM Financial long-lived assets showed a more volatile pattern. A decrease was observed from 2021 to 2023, falling from US$34,452 million to US$27,397 million. A slight recovery occurred in 2024 and continued into 2025, reaching US$29,562 million, but remained below the 2021 level.
- U.S. Total
- Total U.S. long-lived assets initially decreased from US$61,644 million in 2021 to US$59,612 million in 2022. However, a subsequent upward trend was established, culminating in US$66,793 million in 2025. The growth in the latter years was largely driven by the performance of the U.S. Automotive segment.
- Non-U.S. Automotive
- Non-U.S. Automotive long-lived assets increased from US$13,771 million in 2021 to US$16,054 million in 2023, indicating growth. However, a decline was then observed in 2024 and 2025, falling to US$14,327 million. This suggests potential shifts in investment or asset allocation within the Non-U.S. automotive operations.
- Non-U.S. GM Financial
- Non-U.S. GM Financial long-lived assets remained relatively stable between 2021 and 2023, fluctuating around US$3.4 billion. A noticeable increase occurred in 2025, reaching US$4.250 million, representing the largest year-over-year change within this segment.
- Non-U.S. Total
- Total Non-U.S. long-lived assets followed an increasing trend from US$17,400 million in 2021 to US$19,363 million in 2023. Similar to the Non-U.S. Automotive segment, a decrease was observed in 2024 and 2025, ending at US$18,577 million. The overall trend remained positive, but the rate of growth slowed in the final two years.
- Total Consolidated
- Total consolidated long-lived assets experienced a slight decrease from US$79,044 million in 2021 to US$77,950 million in 2022. Subsequent years showed growth, reaching US$85,370 million in 2025. This growth was primarily supported by the U.S. Automotive segment and, to a lesser extent, the Non-U.S. GM Financial segment.
The differing trends between the U.S. and Non-U.S. regions, and between automotive and financial operations, suggest varying investment strategies and economic conditions impacting long-lived asset values. The recent decline in Non-U.S. Automotive assets warrants further investigation.