Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Earnings (P/E) since 2010
- Price to Book Value (P/BV) since 2010
- Price to Sales (P/S) since 2010
- Analysis of Revenues
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Long-term Activity Ratios (Summary)
General Motors Co., long-term (investment) activity ratios (quarterly data)
Based on: 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 analysis of investment activity ratios from March 31, 2022, through March 31, 2026, reveals a consistent upward trend in operational efficiency. All three measured turnover ratios demonstrate an improvement in the company's ability to generate revenue from its asset base and shareholder equity over the observed period.
- Net Fixed Asset Turnover
- A positive progression is observed in the utilization of fixed assets, starting at 2.81 in March 2022 and reaching a peak of 3.31 by December 2024. Following this peak, the ratio stabilized within a narrow range, ending at 3.21 in March 2026. This trend indicates a sustained improvement in the efficiency with which long-term physical assets are deployed to drive sales.
- Total Asset Turnover
- Total asset efficiency showed steady growth, rising from 0.47 in the first half of 2022 to 0.60 by March 2026. A notable increase occurred between June 2022 and December 2022, after which the ratio remained relatively stable around 0.58 for several quarters before climbing toward 0.61 in late 2024. This suggests a gradual and controlled optimization of the entire asset portfolio.
- Equity Turnover
- The most significant growth is evident in equity turnover, which increased from 1.89 in March 2022 to a peak of 2.75 in December 2025, before settling at 2.67 in March 2026. Significant upward shifts were observed in December 2023 and December 2024. The trajectory of this ratio suggests that the company has substantially increased its revenue generation relative to the capital provided by shareholders.
Overall, the synchronized increase across these three metrics indicates an improving capital efficiency profile. The growth in equity turnover outpaced the growth in total asset turnover, suggesting that the improvements in revenue generation are particularly impactful relative to the company's equity base.
Net Fixed Asset Turnover
General Motors Co., net fixed asset turnover calculation (quarterly data)
| 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) | |||||||||||||||||||||||
| Automotive net sales and revenue | |||||||||||||||||||||||
| Property, net | |||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||
| Net fixed asset turnover1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||
| Ford Motor Co. | |||||||||||||||||||||||
| Tesla Inc. | |||||||||||||||||||||||
Based on: 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 Q1 2026 Calculation
Net fixed asset turnover
= (Automotive net sales and revenueQ1 2026
+ Automotive net sales and revenueQ4 2025
+ Automotive net sales and revenueQ3 2025
+ Automotive net sales and revenueQ2 2025)
÷ Property, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
An analysis of the long-term investment activity reveals a general expansion in both revenue generation and the fixed asset base, with a corresponding improvement in asset utilization efficiency over the observed period.
- Revenue Dynamics
- Automotive net sales and revenue exhibited a growth trend, rising from 32,824 million USD in March 2022 to a peak of 44,735 million USD in September 2024. While quarterly volatility is present, the overall trajectory reflects a significant increase in top-line performance before stabilizing and experiencing a slight contraction toward 39,349 million USD by March 2026.
- Fixed Asset Expansion
- Net property investments demonstrated a consistent and steady upward trend. Property, net increased from 41,708 million USD in March 2022 to 52,166 million USD by March 2026. This sustained growth indicates a continuous commitment to capital expenditure and the expansion of the company's physical infrastructure throughout the period.
- Net Fixed Asset Turnover Efficiency
- The net fixed asset turnover ratio improved from 2.81 in March 2022 to a peak of 3.31 in December 2024, signaling an increase in the efficiency with which fixed assets were leveraged to generate revenue. Following this peak, a slight downward trend is observed, with the ratio settling at 3.21 by March 2026. This suggests that while the company successfully increased its operational efficiency during the early and mid-stages of the period, the subsequent growth in the asset base began to outpace revenue growth toward the end of the timeframe.
Overall, the correlation between rising revenues and increasing net fixed assets resulted in a higher efficiency plateau compared to the start of the period. The transition from a turnover ratio of 2.81 to a sustained level above 3.10 indicates a more optimized use of long-term investments to drive sales.
Total Asset Turnover
General Motors Co., total asset turnover calculation (quarterly data)
| 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) | |||||||||||||||||||||||
| Automotive net sales and revenue | |||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||
| Total asset turnover1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||
| Ford Motor Co. | |||||||||||||||||||||||
| Tesla Inc. | |||||||||||||||||||||||
Based on: 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 Q1 2026 Calculation
Total asset turnover
= (Automotive net sales and revenueQ1 2026
+ Automotive net sales and revenueQ4 2025
+ Automotive net sales and revenueQ3 2025
+ Automotive net sales and revenueQ2 2025)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The total asset turnover ratio demonstrates a consistent upward trajectory over the analyzed period, increasing from 0.47 in the first quarter of 2022 to 0.60 by the first quarter of 2026. This progression indicates a steady improvement in the ability to generate revenue from the asset base, reflecting enhanced operational efficiency in utilizing long-term investments.
- Revenue Performance
- Automotive net sales and revenue exhibited significant growth, rising from 32,824 million USD in March 2022 to a peak of 44,735 million USD in September 2024. Although periodic fluctuations occurred, particularly during the 2025 and 2026 quarters, the revenue levels remained substantially higher than the 2022 baseline.
- Asset Base Expansion
- Total assets grew from 251,492 million USD in March 2022 to a peak of 289,384 million USD in June 2025. The expansion of the asset base was more gradual than the increase in revenue, which facilitated the rise in the asset turnover ratio.
- Efficiency Ratio Trends
- A period of rapid improvement is observed between March 2022 and December 2022, where the ratio climbed from 0.47 to 0.55. This was followed by a phase of relative stability, with the ratio maintaining a range between 0.56 and 0.58 throughout most of 2023. The ratio peaked at 0.61 in December 2023 and March 2024, before settling into a stable range of 0.59 to 0.60 through the end of the period.
Equity Turnover
General Motors Co., equity turnover calculation (quarterly data)
| 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) | |||||||||||||||||||||||
| Automotive net sales and revenue | |||||||||||||||||||||||
| Stockholders’ equity | |||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||
| Equity turnover1 | |||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||
| Ford Motor Co. | |||||||||||||||||||||||
| Tesla Inc. | |||||||||||||||||||||||
Based on: 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 Q1 2026 Calculation
Equity turnover
= (Automotive net sales and revenueQ1 2026
+ Automotive net sales and revenueQ4 2025
+ Automotive net sales and revenueQ3 2025
+ Automotive net sales and revenueQ2 2025)
÷ Stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
Analysis of equity turnover from March 31, 2022, to March 31, 2026, reveals a consistent improvement in the efficiency with which equity is utilized to generate automotive net sales and revenue.
- Revenue Trajectory
- Automotive net sales and revenue exhibited a general upward trend, increasing from 32,824 million US dollars in March 2022 to a peak of 44,735 million US dollars in September 2024. While the figures experienced quarterly volatility, the revenue base remained consistently higher in the 2024-2026 period than it was during the 2022 fiscal year.
- Stockholders' Equity Dynamics
- Stockholders' equity followed a fluctuating path, reaching a peak of 74,475 million US dollars in September 2023. Significant contractions in equity were observed in December 2023 and December 2024, with values falling to 64,286 million and 63,072 million US dollars, respectively. These periodic reductions indicate strategic capital adjustments or returns to shareholders that occurred independently of the revenue growth trend.
- Equity Turnover Efficiency
- The equity turnover ratio demonstrated a strong positive trend, rising from 1.89 in March 2022 to a peak of 2.75 in December 2025. The acceleration of this ratio was most pronounced during the year-end periods of 2023 and 2024, coinciding with the aforementioned reductions in stockholders' equity. This suggests that the improvement in turnover was a dual result of expanded top-line revenue and a leaner equity base. As of March 31, 2026, the ratio stood at 2.67, maintaining a significantly higher level of efficiency compared to the start of the analyzed period.