Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
General Motors Co., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
The overall liquidity profile exhibits a period of stability followed by a moderate strengthening in the middle of the analyzed timeframe, ending with a slight contraction in late 2025 and 2026. The company consistently maintains a current ratio above 1.0, indicating that current assets remain sufficient to cover short-term obligations.
- Current Ratio Trends
- The current ratio fluctuates within a tight range of 1.08 to 1.23. A notable upward trend is observed between March 2024 and September 2025, where the ratio reaches its peak of 1.23. This suggests a temporary increase in the margin of safety for meeting short-term liabilities. However, a decline occurs thereafter, with the ratio retreating to 1.09 by September 30, 2026.
- Quick Ratio Performance
- The quick ratio demonstrates a gradual improvement from 0.84 in March 2022 to a high of 0.98 in September 2025. This progression indicates an enhanced capacity to satisfy current liabilities using only the most liquid assets, reducing reliance on inventory liquidation. A reversal of this trend is evident in 2026, as the ratio descends to 0.86.
- Cash Ratio Observations
- The cash ratio remains the lowest of the three metrics, ranging from 0.26 to 0.36. While the ratio remained relatively stable throughout 2022 and 2023, a period of decline is observed starting in late 2025. From September 2025 to September 2026, the ratio drops from 0.32 to a consistent floor of 0.26, reflecting a decrease in the proportion of cash and cash equivalents available relative to current liabilities.
- Comparative Liquidity Insight
- The consistent gap between the current ratio and the quick ratio suggests that inventory represents a significant portion of the company's current assets. The synchronized peak across the current and quick ratios in September 2025, followed by a concurrent decline, indicates a systematic shift in short-term asset management or an increase in current liability obligations during the final year of the period.
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Current Ratio
General Motors Co., current ratio calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Current assets | 115,867) | 110,008) | 109,121) | 108,767) | 114,636) | 114,285) | 110,006) | 108,545) | 115,419) | 112,064) | 106,470) | 101,618) | 110,721) | 106,804) | 98,832) | 100,451) | 98,271) | 91,094) | 88,594) | ||||||
| Current liabilities | 106,330) | 96,834) | 94,720) | 93,342) | 93,295) | 93,812) | 90,747) | 96,265) | 95,463) | 95,363) | 91,777) | 94,445) | 96,820) | 92,718) | 90,185) | 91,173) | 86,003) | 79,398) | 79,555) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||||
| Current ratio1 | 1.09 | 1.14 | 1.15 | 1.17 | 1.23 | 1.22 | 1.21 | 1.13 | 1.21 | 1.18 | 1.16 | 1.08 | 1.14 | 1.15 | 1.10 | 1.10 | 1.14 | 1.15 | 1.11 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||||
| Ford Motor Co. | 1.08 | 1.09 | 1.09 | 1.07 | 1.12 | 1.10 | 1.13 | 1.16 | 1.15 | 1.17 | 1.17 | 1.20 | 1.21 | 1.20 | 1.20 | 1.20 | 1.20 | 1.16 | 1.17 | ||||||
| Tesla Inc. | 1.74 | 1.94 | 2.04 | 2.16 | 2.07 | 2.04 | 2.00 | 2.02 | 1.84 | 1.91 | 1.72 | 1.73 | 1.69 | 1.59 | 1.57 | 1.53 | 1.46 | 1.43 | 1.35 | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
1 Q3 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 115,867 ÷ 106,330 = 1.09
2 Click competitor name to see calculations.
The analysis of short-term liquidity reveals a consistent ability to cover immediate obligations, characterized by a current ratio that remained above 1.00 throughout the observed period from March 2022 to September 2026.
- Asset and Liability Trends
- Current assets exhibited a general upward trajectory, growing from 88,594 million USD in March 2022 to a peak of 115,867 million USD by September 2026. This growth was accompanied by a parallel increase in current liabilities, which rose from 79,555 million USD to 106,330 million USD over the same timeframe. A recurring pattern of contraction in current assets is observed at the end of each calendar year, suggesting seasonal fluctuations in working capital.
- Current Ratio Volatility and Peaks
- The current ratio experienced fluctuations within a narrow range, primarily between 1.08 and 1.23. A period of strengthening liquidity is evident between March 2024 and September 2025, during which the ratio climbed steadily from 1.16 to its highest point of 1.23. This peak indicates a period of optimal short-term solvency relative to the rest of the analyzed timeframe.
- Recent Liquidity Contraction
- Following the peak in September 2025, a gradual decline in the current ratio is observed. The ratio decreased from 1.23 to 1.09 by September 2026. This downward trend is attributed to current liabilities growing at a faster rate than current assets during the final year of the period, thereby reducing the liquidity cushion.
Overall, the liquidity position remains stable, though the trend indicates a transition from a strengthening liquidity phase in 2024-2025 to a tightening phase in 2026.
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Quick Ratio
General Motors Co., quick ratio calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Cash and cash equivalents | 23,196) | 20,134) | 19,800) | 20,945) | 22,910) | 22,381) | 20,570) | 19,872) | 23,744) | 22,516) | 17,635) | 18,853) | 25,224) | 23,074) | 18,227) | 19,153) | 20,745) | 16,710) | 16,349) | ||||||
| Marketable debt securities | 4,609) | 4,585) | 4,618) | 6,724) | 6,792) | 6,958) | 6,919) | 7,265) | 8,477) | 8,313) | 7,845) | 7,613) | 9,651) | 9,556) | 9,981) | 12,150) | 9,566) | 10,124) | 9,907) | ||||||
| Accounts and notes receivable, net of allowance | 17,138) | 16,770) | 16,381) | 13,054) | 17,125) | 16,722) | 14,936) | 12,827) | 13,782) | 13,406) | 13,774) | 12,378) | 13,923) | 14,068) | 13,702) | 13,333) | 14,021) | 12,417) | 11,946) | ||||||
| GM Financial receivables, net of allowance | 46,453) | 44,870) | 43,751) | 45,266) | 44,521) | 44,473) | 44,517) | 46,362) | 44,453) | 42,783) | 41,682) | 39,076) | 36,224) | 34,440) | 32,283) | 33,623) | 31,049) | 28,479) | 28,440) | ||||||
| Total quick assets | 91,396) | 86,359) | 84,550) | 85,989) | 91,348) | 90,534) | 86,942) | 86,326) | 90,456) | 87,018) | 80,936) | 77,920) | 85,022) | 81,138) | 74,193) | 78,259) | 75,381) | 67,730) | 66,642) | ||||||
| Current liabilities | 106,330) | 96,834) | 94,720) | 93,342) | 93,295) | 93,812) | 90,747) | 96,265) | 95,463) | 95,363) | 91,777) | 94,445) | 96,820) | 92,718) | 90,185) | 91,173) | 86,003) | 79,398) | 79,555) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||||
| Quick ratio1 | 0.86 | 0.89 | 0.89 | 0.92 | 0.98 | 0.97 | 0.96 | 0.90 | 0.95 | 0.91 | 0.88 | 0.83 | 0.88 | 0.88 | 0.82 | 0.86 | 0.88 | 0.85 | 0.84 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||||
| Ford Motor Co. | 0.89 | 0.88 | 0.88 | 0.90 | 0.94 | 0.91 | 0.92 | 0.98 | 0.94 | 0.96 | 0.95 | 1.01 | 0.99 | 0.99 | 0.99 | 1.02 | 0.99 | 0.95 | 0.96 | ||||||
| Tesla Inc. | 1.24 | 1.34 | 1.43 | 1.53 | 1.48 | 1.35 | 1.37 | 1.42 | 1.21 | 1.24 | 1.04 | 1.13 | 1.07 | 0.96 | 0.93 | 0.94 | 0.95 | 0.96 | 0.95 | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
1 Q3 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 91,396 ÷ 106,330 = 0.86
2 Click competitor name to see calculations.
The analysis of liquidity metrics from March 2022 through September 2026 reveals a period of gradual strengthening in the short-term financial position, followed by a moderate decline in the final quarters. The quick ratio, which measures the ability to meet short-term obligations using only the most liquid assets, consistently remained below the 1.0 threshold, indicating that quick assets were insufficient to cover all current liabilities without the liquidation of inventory or other less liquid current assets.
- Quick Asset Trends
- Total quick assets exhibited a general upward trajectory, increasing from 66,642 million USD in March 2022 to a peak of 91,396 million USD by September 2026. This growth represents a significant expansion of highly liquid resources over the analyzed period, despite periodic fluctuations, such as the dip observed in December 2023.
- Current Liability Dynamics
- Current liabilities showed a steady increase, rising from 79,555 million USD in March 2022 to 106,330 million USD in September 2026. While liabilities remained relatively stable between 90,000 million USD and 96,000 million USD for much of 2023 through 2025, a notable increase occurred in the final quarter of the period, which contributed to the compression of the liquidity ratio.
- Quick Ratio Performance
- The quick ratio fluctuated within a range of 0.82 to 0.98. A period of liquidity improvement is evident between March 2024 (0.88) and September 2025, where the ratio peaked at 0.98. This suggests a strategic accumulation of liquid assets relative to debt during that window. However, a downward trend followed in 2026, with the ratio receding to 0.86 by September 2026, driven primarily by the spike in current liabilities.
Overall, the data indicates a consistent management approach where the company maintains a liquidity buffer close to, but never reaching, a 1:1 coverage ratio. The volatility in the ratio suggests a dynamic balance between the acquisition of liquid assets and the accumulation of short-term obligations.
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Cash Ratio
General Motors Co., cash ratio calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Cash and cash equivalents | 23,196) | 20,134) | 19,800) | 20,945) | 22,910) | 22,381) | 20,570) | 19,872) | 23,744) | 22,516) | 17,635) | 18,853) | 25,224) | 23,074) | 18,227) | 19,153) | 20,745) | 16,710) | 16,349) | ||||||
| Marketable debt securities | 4,609) | 4,585) | 4,618) | 6,724) | 6,792) | 6,958) | 6,919) | 7,265) | 8,477) | 8,313) | 7,845) | 7,613) | 9,651) | 9,556) | 9,981) | 12,150) | 9,566) | 10,124) | 9,907) | ||||||
| Total cash assets | 27,805) | 24,719) | 24,418) | 27,669) | 29,702) | 29,339) | 27,489) | 27,137) | 32,221) | 30,829) | 25,480) | 26,466) | 34,875) | 32,630) | 28,208) | 31,303) | 30,311) | 26,834) | 26,256) | ||||||
| Current liabilities | 106,330) | 96,834) | 94,720) | 93,342) | 93,295) | 93,812) | 90,747) | 96,265) | 95,463) | 95,363) | 91,777) | 94,445) | 96,820) | 92,718) | 90,185) | 91,173) | 86,003) | 79,398) | 79,555) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||||
| Cash ratio1 | 0.26 | 0.26 | 0.26 | 0.30 | 0.32 | 0.31 | 0.30 | 0.28 | 0.34 | 0.32 | 0.28 | 0.28 | 0.36 | 0.35 | 0.31 | 0.34 | 0.35 | 0.34 | 0.33 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||||
| Ford Motor Co. | 0.30 | 0.29 | 0.29 | 0.33 | 0.36 | 0.33 | 0.32 | 0.36 | 0.34 | 0.33 | 0.33 | 0.40 | 0.41 | 0.42 | 0.41 | 0.45 | 0.45 | 0.42 | 0.46 | ||||||
| Tesla Inc. | 1.12 | 1.23 | 1.31 | 1.39 | 1.33 | 1.23 | 1.24 | 1.27 | 1.10 | 1.11 | 0.91 | 1.01 | 0.98 | 0.84 | 0.82 | 0.83 | 0.86 | 0.87 | 0.84 | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
1 Q3 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 27,805 ÷ 106,330 = 0.26
2 Click competitor name to see calculations.
The analysis of liquidity reveals a general contraction in the immediate cash position relative to short-term obligations over the observed period. While cash assets experienced periods of growth, the simultaneous and more consistent increase in current liabilities has led to a decline in the cash ratio.
- Cash Asset Fluctuations
- Total cash assets exhibited a volatile trend, beginning at 26.2 billion in March 2022 and reaching a peak of 34.8 billion in September 2023. Following this peak, cash levels fluctuated, showing a notable dip in December 2023 and a subsequent decline through early 2026, before recovering slightly to 27.8 billion by September 2026.
- Expansion of Current Liabilities
- A consistent upward trend is observed in current liabilities, which climbed from 79.5 billion in March 2022 to a period high of 106.3 billion in September 2026. This steady growth in short-term obligations has outpaced the growth of liquid cash reserves, contributing to the deterioration of the cash ratio.
- Cash Ratio Trajectory
- The cash ratio remained relatively stable between 0.31 and 0.36 from March 2022 through June 2024, peaking at 0.36 in September 2023. A downward shift occurred in the latter half of the period, with the ratio falling to 0.26 by March 2026 and remaining at that level through September 2026. This indicates that the proportion of current liabilities covered by cash assets decreased from a peak of 36% to a sustained low of 26%.
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