Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

General Motors Co. (NYSE:GM)

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Analysis of Solvency Ratios

Beginner level

Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.

Solvency Ratios (Summary)

General Motors Co., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

Based on: 10-K (filing date: 2020-02-05), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-07), 10-K (filing date: 2016-02-03).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. General Motors Co.’s debt to equity ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. General Motors Co.’s debt to equity ratio (including operating lease liability) deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. General Motors Co.’s debt to capital ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. General Motors Co.’s debt to capital ratio (including operating lease liability) deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. General Motors Co.’s debt to assets ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. General Motors Co.’s debt to assets ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. General Motors Co.’s financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019.
Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. General Motors Co.’s interest coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. General Motors Co.’s fixed charge coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Debt to Equity

General Motors Co., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt
Long-term debt, excluding current portion
Total debt
 
Stockholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-05), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-07), 10-K (filing date: 2016-02-03).

1 2019 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= ÷ =

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. General Motors Co.’s debt to equity ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.

Debt to Equity (including Operating Lease Liability)

General Motors Co., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Current operating lease liabilities (included in Accrued liabilities)
Non-current operating lease liabilities
Total debt (including operating lease liability)
 
Stockholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-05), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-07), 10-K (filing date: 2016-02-03).

1 2019 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= ÷ =

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. General Motors Co.’s debt to equity ratio (including operating lease liability) deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.

Debt to Capital

General Motors Co., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Stockholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-05), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-07), 10-K (filing date: 2016-02-03).

1 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. General Motors Co.’s debt to capital ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.

Debt to Capital (including Operating Lease Liability)

General Motors Co., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Current operating lease liabilities (included in Accrued liabilities)
Non-current operating lease liabilities
Total debt (including operating lease liability)
Stockholders’ equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-05), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-07), 10-K (filing date: 2016-02-03).

1 2019 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. General Motors Co.’s debt to capital ratio (including operating lease liability) deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.

Debt to Assets

General Motors Co., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt
Long-term debt, excluding current portion
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-05), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-07), 10-K (filing date: 2016-02-03).

1 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. General Motors Co.’s debt to assets ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Debt to Assets (including Operating Lease Liability)

General Motors Co., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Current operating lease liabilities (included in Accrued liabilities)
Non-current operating lease liabilities
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-05), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-07), 10-K (filing date: 2016-02-03).

1 2019 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. General Motors Co.’s debt to assets ratio (including operating lease liability) deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Financial Leverage

General Motors Co., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Total assets
Stockholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-05), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-07), 10-K (filing date: 2016-02-03).

1 2019 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= ÷ =

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. General Motors Co.’s financial leverage ratio decreased from 2017 to 2018 and from 2018 to 2019.

Interest Coverage

General Motors Co., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net income (loss) attributable to stockholders
Add: Net income attributable to noncontrolling interest
Less: Loss from discontinued operations, net of tax
Add: Income tax expense
Add: Automotive interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-05), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-07), 10-K (filing date: 2016-02-03).

1 2019 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. General Motors Co.’s interest coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Fixed Charge Coverage

General Motors Co., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
U.S. federal statutory income tax rate
Selected Financial Data (US$ in millions)
Net income (loss) attributable to stockholders
Add: Net income attributable to noncontrolling interest
Less: Loss from discontinued operations, net of tax
Add: Income tax expense
Add: Automotive interest expense
Earnings before interest and tax (EBIT)
Add: Rental expense under operating leases
Earnings before fixed charges and tax
 
Automotive interest expense
Rental expense under operating leases
Cumulative dividends on subsidiary preferred stock
Cumulative dividends on subsidiary preferred stock, tax adjustment1
Cumulative dividends on subsidiary preferred stock, after tax adjustment
Fixed charges
Solvency Ratio
Fixed charge coverage2
Benchmarks
Fixed Charge Coverage, Industry
Consumer Goods

Based on: 10-K (filing date: 2020-02-05), 10-K (filing date: 2019-02-06), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-07), 10-K (filing date: 2016-02-03).

1 2019 Calculation
Cumulative dividends on subsidiary preferred stock, tax adjustment = (Cumulative dividends on subsidiary preferred stock × U.S. federal statutory income tax rate) ÷ (1 − U.S. federal statutory income tax rate)
= ( × ) ÷ (1 − ) =

2 2019 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. General Motors Co.’s fixed charge coverage ratio deteriorated from 2017 to 2018 and from 2018 to 2019.