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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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Total Asset Turnover since 2010
- Price to Operating Profit (P/OP) since 2010
- Price to Book Value (P/BV) since 2010
- Analysis of Revenues
- Analysis of Debt
- Aggregate Accruals
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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: 2026-06-30), 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).
An analysis of the long-term activity ratios indicates a general improvement in asset and equity utilization efficiency from early 2022 through mid-2026. All three tracked metrics exhibit an overall upward trajectory, suggesting an enhanced ability to generate revenue relative to the invested capital and asset base over the observed period.
- Net Fixed Asset Turnover
- The ratio demonstrated a consistent increase from 2.81 in March 2022, reaching a peak of 3.31 by December 2024. Following this peak, a period of relative stabilization occurred, with values fluctuating slightly before settling at 3.16 by June 2026. This pattern reflects an initial phase of increasing productivity of fixed assets, followed by a plateau where revenue growth and fixed asset investments reached a state of equilibrium.
- Total Asset Turnover
- A steady and incremental rise is observed in the total asset turnover ratio, which climbed from 0.47 in the first quarter of 2022 to a high of 0.61 in late 2024. The ratio remained stable between 0.59 and 0.61 throughout 2025 and the first half of 2026. This trend signifies a sustained improvement in the overall efficiency of the company's entire asset portfolio in generating sales.
- Equity Turnover
- The equity turnover ratio showed the most significant growth among the analyzed metrics, rising from 1.89 in March 2022 to a peak of 2.75 in December 2025. Despite minor quarterly fluctuations, the ratio maintained a strong level, ending at 2.72 in June 2026. This substantial increase indicates a markedly more efficient use of shareholder equity to drive top-line revenue growth over the multi-year period.
The synchronization of these trends suggests a broad operational optimization. The concurrent rise in both total asset and equity turnover, paired with the improvement in fixed asset efficiency, points to a strategic increase in asset productivity and a more aggressive utilization of the capital base to expand revenue streams.
Net Fixed Asset Turnover
General Motors Co., net fixed asset turnover calculation (quarterly data)
| 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) | ||||||||||||||||||||||||
| 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: 2026-06-30), 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 Q2 2026 Calculation
Net fixed asset turnover
= (Automotive net sales and revenueQ2 2026
+ Automotive net sales and revenueQ1 2026
+ Automotive net sales and revenueQ4 2025
+ Automotive net sales and revenueQ3 2025)
÷ Property, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
An analysis of the investment activity reveals a period of strategic expansion in fixed assets accompanied by a general increase in automotive revenue, resulting in a fluctuating but overall stable net fixed asset turnover ratio.
- Revenue Performance and Trends
- Automotive net sales and revenue exhibited an upward trajectory from March 2022, rising from 32.8 billion USD to a peak of 44.7 billion USD by September 2024. While the growth demonstrates a positive trend, quarterly volatility is evident, with revenue typically peaking in the second and third quarters of each year before experiencing seasonal contractions in the fourth and first quarters.
- Fixed Asset Investment Growth
- The value of net property showed a consistent and steady increase throughout the analyzed period. Starting at 41.7 billion USD in March 2022, net fixed assets grew incrementally to reach 53.3 billion USD by June 2026. This steady climb indicates a sustained commitment to capital expenditure and the expansion of the company's industrial base.
- Net Fixed Asset Turnover Analysis
- The net fixed asset turnover ratio improved from 2.81 in March 2022 to 3.18 by December 2022, reflecting a period of increased operational efficiency relative to the asset base. The ratio remained relatively stable between 3.12 and 3.31 for the majority of the subsequent periods, peaking at 3.31 in December 2024. This suggests that revenue growth largely kept pace with the expansion of fixed assets during this timeframe.
- Recent Efficiency Trends
- Beginning in early 2025, a slight downward trend in the turnover ratio is observable, declining from 3.30 in March 2025 to 3.16 by June 2026. This contraction indicates that the growth in net property has begun to slightly outpace the growth in automotive revenue, potentially reflecting a phase of heavy investment that has not yet fully translated into proportional revenue gains.
Total Asset Turnover
General Motors Co., total asset turnover calculation (quarterly data)
| 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) | ||||||||||||||||||||||||
| 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: 2026-06-30), 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 Q2 2026 Calculation
Total asset turnover
= (Automotive net sales and revenueQ2 2026
+ Automotive net sales and revenueQ1 2026
+ Automotive net sales and revenueQ4 2025
+ Automotive net sales and revenueQ3 2025)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of asset utilization reveals a consistent improvement in the efficiency with which assets are deployed to generate automotive revenue over the period from March 2022 to June 2026.
- Revenue Trajectory
- Automotive net sales and revenue exhibited a general upward trend, increasing from 32,824 million USD in March 2022 to 43,762 million USD by June 2026. While quarterly fluctuations are present, a notable growth phase occurred between late 2022 and mid-2024, with peak revenues recorded in the third quarter of 2024 at 44,735 million USD.
- Asset Base Evolution
- Total assets grew steadily from 251,492 million USD in March 2022 to a peak of 289,384 million USD in June 2023. Following this expansion, the asset base stabilized, fluctuating within a range between 279,000 million USD and 289,000 million USD through the remainder of the analyzed period, suggesting a shift from capital expansion to operational optimization.
- Total Asset Turnover Performance
- The total asset turnover ratio demonstrated a positive progression, rising from 0.47 in the first quarter of 2022 to a peak of 0.61 by the end of 2024. This improvement indicates that revenue growth outpaced the growth of the asset base. Since reaching this peak, the ratio has remained stable at approximately 0.60, signaling a matured level of asset productivity.
Equity Turnover
General Motors Co., equity turnover calculation (quarterly data)
| 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) | ||||||||||||||||||||||||
| 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: 2026-06-30), 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 Q2 2026 Calculation
Equity turnover
= (Automotive net sales and revenueQ2 2026
+ Automotive net sales and revenueQ1 2026
+ Automotive net sales and revenueQ4 2025
+ Automotive net sales and revenueQ3 2025)
÷ Stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the long-term investment activity reveals a consistent upward trend in equity turnover from March 31, 2022, through June 30, 2026. This progression indicates an increasing efficiency in utilizing stockholders' equity to generate automotive net sales and revenue.
- Revenue Trends
- Automotive net sales and revenue exhibited a general growth trajectory, rising from 32,824 million USD in March 2022 to a peak of 44,735 million USD in September 2024. While quarterly fluctuations are evident, revenue levels remained predominantly above the 39,000 million USD threshold from December 2022 onward, suggesting a sustained increase in the scale of operations.
- Stockholders' Equity Dynamics
- Stockholders' equity showed a period of expansion from March 2022 (62,095 million USD) to a peak in September 2023 (74,475 million USD). A notable contraction occurred between September 2023 and December 2023, where equity fell to 64,286 million USD. Following this adjustment, the equity base remained relatively stable, fluctuating between approximately 61,000 million USD and 71,000 million USD through June 2026.
- Equity Turnover Performance
- The equity turnover ratio climbed steadily from 1.89 in March 2022 to 2.72 by June 2026. A significant acceleration in this ratio is observed starting in December 2023, when the ratio jumped to 2.45. This increase was driven by the simultaneous effect of rising revenues and a reduction in the total equity base. The ratio maintained a higher plateau between 2.57 and 2.75 throughout 2024 and 2025, reflecting a more aggressive utilization of equity to drive top-line growth.
The overall data indicates a strategic shift toward higher asset productivity. The transition from a turnover ratio below 2.0 to a consistent level above 2.5 suggests that the entity is generating significantly more revenue per unit of equity invested than it was at the beginning of the analyzed period.