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.
Long-term Activity Ratios (Summary)
General Motors Co., long-term (investment) activity 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 analyzed period reveals a general improvement in asset utilization efficiency, characterized by an initial growth phase followed by a period of stabilization. All three activity ratios exhibit an upward trajectory from early 2022, suggesting an enhanced ability to generate revenue relative to the company's long-term investment base.
- Net Fixed Asset Turnover
- A positive trend is observed from March 2022, where the ratio stood at 2.81, peaking at 3.31 in December 2024. This indicates an increasing efficiency in utilizing plant, property, and equipment to drive sales. Following this peak, a gradual decline is noted through 2025 and 2026, with the ratio settling at 3.10 by September 2026, though it remains significantly higher than the initial 2022 levels.
- Total Asset Turnover
- This ratio demonstrates steady growth from a baseline of 0.47 in the first half of 2022 to a plateau between 0.58 and 0.61 starting in late 2023. The stability maintained from December 2023 through September 2026 suggests a consistent capacity to generate revenue across the entire asset base, reflecting a matured efficiency level.
- Equity Turnover
- The most pronounced growth is evident in the equity turnover ratio, which rose from 1.89 in March 2022 to a peak of 2.75 in December 2025. Notable accelerations occurred in December 2023 and December 2024, indicating a substantial increase in the efficiency of shareholder capital utilization. The ratio remained elevated through September 2026, closing at 2.70.
Overall, the data indicates a transition toward higher operational efficiency. The synchronized rise in both total asset and equity turnover suggests that the increase in revenue generation is not merely a result of increased leverage, but a broader improvement in how long-term resources are deployed. The slight softening of the net fixed asset turnover in the final quarters suggests a possible increase in capital expenditures or a stabilization of output relative to fixed asset growth.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Net Fixed Asset Turnover
General Motors Co., net fixed asset turnover 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) | |||||||||||||||||||||||||
| Automotive net sales and revenue | 45,706) | 43,762) | 39,349) | 40,985) | 44,256) | 42,869) | 39,861) | 43,599) | 44,735) | 44,060) | 39,212) | 39,260) | 40,498) | 41,254) | 36,646) | 39,834) | 38,703) | 32,614) | 32,824) | ||||||
| Property, net | 54,798) | 53,316) | 52,166) | 51,683) | 51,938) | 52,159) | 52,128) | 51,904) | 51,505) | 51,145) | 51,423) | 50,321) | 49,399) | 47,941) | 46,895) | 45,248) | 42,795) | 41,943) | 41,708) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Net fixed asset turnover1 | 3.10 | 3.16 | 3.21 | 3.25 | 3.28 | 3.28 | 3.30 | 3.31 | 3.25 | 3.19 | 3.12 | 3.13 | 3.20 | 3.26 | 3.15 | 3.18 | 3.14 | 2.84 | 2.81 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||
| Ford Motor Co. | 4.17 | 4.36 | 4.63 | 4.67 | 3.95 | 3.93 | 4.01 | 4.12 | 4.15 | 4.15 | 4.11 | 4.06 | 4.18 | 4.17 | 4.11 | 4.00 | 4.01 | 3.84 | 3.41 | ||||||
| Tesla Inc. | 2.05 | 2.19 | 2.27 | 2.33 | 2.43 | 2.40 | 2.58 | 2.73 | 2.69 | 2.90 | 3.01 | 3.26 | 3.46 | 3.56 | 3.45 | 3.46 | 3.41 | 3.18 | 3.11 | ||||||
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
Net fixed asset turnover
= (Automotive net sales and revenueQ3 2026
+ Automotive net sales and revenueQ2 2026
+ Automotive net sales and revenueQ1 2026
+ Automotive net sales and revenueQ4 2025)
÷ Property, net
= (45,706 + 43,762 + 39,349 + 40,985)
÷ 54,798 = 3.10
2 Click competitor name to see calculations.
The analysis of long-term investment activity indicates a period of efficiency growth followed by a gradual stabilization and slight decline in asset utilization. Overall, the capacity to generate revenue from fixed assets improved significantly between early 2022 and late 2024, before experiencing a downward trend through the third quarter of 2026.
- Revenue Growth Patterns
- Automotive net sales and revenue exhibited a general upward trajectory, rising from 32,824 million USD in March 2022 to a peak of 45,706 million USD by September 2026. While quarterly fluctuations occurred, the long-term trend reflects a substantial expansion in top-line performance over the analyzed period.
- Fixed Asset Expansion
- Net property assets showed a consistent and steady increase, growing from 41,708 million USD in March 2022 to 54,798 million USD in September 2026. This continuous growth suggests a sustained commitment to capital expenditure and the expansion of the company's industrial base.
- Net Fixed Asset Turnover Dynamics
- The net fixed asset turnover ratio transitioned through three distinct phases. An initial improvement phase saw the ratio rise from 2.81 in March 2022 to a peak of 3.31 by December 2024, indicating that revenue growth outpaced the expansion of the fixed asset base. A subsequent stabilization phase occurred throughout 2025, with the ratio holding steady around 3.25 to 3.28. Finally, a moderate decline is observed from March 2026 to September 2026, where the ratio fell to 3.10, suggesting that recent increases in fixed assets have not yet yielded proportional gains in automotive revenue.
The convergence of rising net property values and the recent dip in the turnover ratio suggests a period of capacity buildup. The decline in the ratio during 2026 indicates that the marginal productivity of new fixed asset investments has decreased, or that the company is currently in a phase of investing ahead of future revenue realizations.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Total Asset Turnover
General Motors Co., total asset turnover 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) | |||||||||||||||||||||||||
| Automotive net sales and revenue | 45,706) | 43,762) | 39,349) | 40,985) | 44,256) | 42,869) | 39,861) | 43,599) | 44,735) | 44,060) | 39,212) | 39,260) | 40,498) | 41,254) | 36,646) | 39,834) | 38,703) | 32,614) | 32,824) | ||||||
| Total assets | 289,183) | 282,742) | 280,974) | 281,284) | 288,168) | 289,384) | 282,104) | 279,761) | 289,289) | 282,956) | 276,591) | 273,064) | 281,705) | 275,833) | 267,004) | 264,037) | 260,529) | 253,517) | 251,492) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Total asset turnover1 | 0.59 | 0.60 | 0.60 | 0.60 | 0.59 | 0.59 | 0.61 | 0.61 | 0.58 | 0.58 | 0.58 | 0.58 | 0.56 | 0.57 | 0.55 | 0.55 | 0.52 | 0.47 | 0.47 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||
| Ford Motor Co. | 0.59 | 0.61 | 0.62 | 0.60 | 0.59 | 0.59 | 0.60 | 0.61 | 0.60 | 0.61 | 0.61 | 0.61 | 0.61 | 0.60 | 0.61 | 0.58 | 0.58 | 0.56 | 0.49 | ||||||
| Tesla Inc. | 0.66 | 0.70 | 0.68 | 0.69 | 0.72 | 0.72 | 0.77 | 0.80 | 0.81 | 0.84 | 0.87 | 0.91 | 1.02 | 1.04 | 0.99 | 0.99 | 1.01 | 0.98 | 0.94 | ||||||
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
Total asset turnover
= (Automotive net sales and revenueQ3 2026
+ Automotive net sales and revenueQ2 2026
+ Automotive net sales and revenueQ1 2026
+ Automotive net sales and revenueQ4 2025)
÷ Total assets
= (45,706 + 43,762 + 39,349 + 40,985)
÷ 289,183 = 0.59
2 Click competitor name to see calculations.
An overall upward trend in asset utilization efficiency is evident between March 2022 and September 2026. The company demonstrates a consistent ability to increase automotive net sales and revenue at a pace that exceeds the growth of its total asset base, resulting in a steady improvement in the total asset turnover ratio over the observed period.
- Revenue Trajectory
- Automotive net sales and revenue grew from 32,824 million USD in March 2022 to 45,706 million USD by September 2026. Although the growth pattern exhibits quarterly volatility—notably in the declines observed in December 2023 and March 2025—the long-term trend is positive, indicating an expansion in top-line performance.
- Asset Base Evolution
- Total assets expanded from 251,492 million USD in March 2022 to 289,183 million USD by September 2026. The growth in the asset base is more linear compared to the revenue stream, suggesting a controlled increase in investment to support higher operational output.
- Total Asset Turnover Analysis
- The total asset turnover ratio increased from 0.47 in the first half of 2022 to a peak of 0.61 in December 2024, before stabilizing between 0.59 and 0.60 through September 2026. This progression signifies a significant improvement in the efficiency with which the company employs its assets to generate sales.
- Operational Efficiency Correlation
- The most pronounced increase in efficiency occurred between June 2022 and December 2022, where the turnover ratio rose from 0.47 to 0.55. This period coincides with a substantial jump in quarterly revenue from 32,614 million USD to 39,834 million USD, while assets grew by a relatively smaller margin, highlighting a period of rapid productivity gains.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Equity Turnover
General Motors Co., equity turnover 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) | |||||||||||||||||||||||||
| Automotive net sales and revenue | 45,706) | 43,762) | 39,349) | 40,985) | 44,256) | 42,869) | 39,861) | 43,599) | 44,735) | 44,060) | 39,212) | 39,260) | 40,498) | 41,254) | 36,646) | 39,834) | 38,703) | 32,614) | 32,824) | ||||||
| Stockholders’ equity | 62,806) | 62,000) | 62,659) | 61,119) | 66,374) | 66,363) | 64,372) | 63,072) | 70,935) | 68,633) | 66,598) | 64,286) | 74,475) | 71,655) | 69,877) | 67,792) | 65,268) | 63,954) | 62,095) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Equity turnover1 | 2.70 | 2.72 | 2.67 | 2.75 | 2.57 | 2.58 | 2.68 | 2.72 | 2.36 | 2.38 | 2.41 | 2.45 | 2.12 | 2.18 | 2.12 | 2.12 | 2.06 | 1.86 | 1.89 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||
| Ford Motor Co. | 4.69 | 4.88 | 4.71 | 4.84 | 3.72 | 3.83 | 3.81 | 3.85 | 3.86 | 3.88 | 3.89 | 3.88 | 3.71 | 3.67 | 3.68 | 3.45 | 3.39 | 3.14 | 2.78 | ||||||
| Tesla Inc. | 1.16 | 1.19 | 1.16 | 1.15 | 1.20 | 1.20 | 1.28 | 1.34 | 1.39 | 1.43 | 1.47 | 1.55 | 1.79 | 1.84 | 1.79 | 1.82 | 1.88 | 1.85 | 1.82 | ||||||
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
Equity turnover
= (Automotive net sales and revenueQ3 2026
+ Automotive net sales and revenueQ2 2026
+ Automotive net sales and revenueQ1 2026
+ Automotive net sales and revenueQ4 2025)
÷ Stockholders’ equity
= (45,706 + 43,762 + 39,349 + 40,985)
÷ 62,806 = 2.70
2 Click competitor name to see calculations.
The analyzed period demonstrates a consistent upward trajectory in capital utilization efficiency, specifically regarding the relationship between automotive revenue and stockholders' equity.
- Revenue Growth Trends
- Automotive net sales and revenue exhibited a general expansion, rising from 32,824 million USD in March 2022 to a peak of 45,706 million USD by September 2026. Despite periodic quarterly fluctuations—most notably during December quarters—the long-term trend indicates sustained growth in top-line performance.
- Stockholders' Equity Fluctuations
- Equity levels showed significant volatility throughout the period. An initial growth phase peaked at 74,475 million USD in September 2023, followed by a sharp contraction to 64,286 million USD by December 2023. Similar contractions occurred in December 2024 and December 2025, with equity reaching a low of 61,119 million USD in the latter instance, before stabilizing near 62,806 million USD by September 2026.
- Equity Turnover Dynamics
- The equity turnover ratio improved steadily over the observation window, increasing from 1.89 in March 2022 to 2.70 in September 2026. The ratio transitioned from a baseline below 2.0 in 2022 to a consistent range between 2.57 and 2.75 during 2025 and 2026, indicating a substantial increase in the efficiency of equity usage.
The acceleration of the equity turnover ratio is attributable to the combined effect of increasing revenue and the relative compression of the equity base in the later stages of the period. This divergence indicates that the organization is generating higher sales volumes per unit of shareholder investment, reflecting a marked improvement in long-term investment activity and operational leverage.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?