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: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The analysis of the financial ratios over the reported periods reveals several notable trends and fluctuations across the metrics under review.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio demonstrates a generally stable and slightly upward trending performance from the first available data point at 2.89. The ratio experienced minor fluctuations throughout the periods, dipping to 2.76 and rising to peaks above 3.2. The most recent values reflect a consistent performance around 3.2 to 3.3, indicating an improving efficiency in utilizing fixed assets to generate sales over time.
- Total Asset Turnover
- This ratio shows a more distinct upward trend beginning at 0.46 and moving steadily higher across the observed quarters. After a period of relative stability through 2021 and early 2022, the ratio climbs to approximately 0.58 by late 2023 and further reaches about 0.61 in early 2025. This indicates an enhancement in the overall asset utilization efficiency, reflecting better management of all assets in generating revenue.
- Equity Turnover
- Equity turnover initially declines from 2.41 to a low of approximately 1.86, indicating a decrease in the efficiency with which equity is used to generate sales. However, after this decline, there is a recovery trend with fluctuations that culminate in a significant improvement, reaching levels around 2.7 by early 2025. This progression suggests enhanced effectiveness in leveraging shareholders' equity to support sales growth in more recent periods.
Overall, the data points to an improving operational efficiency, particularly in asset utilization metrics, over the time frame. Both net fixed asset turnover and total asset turnover ratios indicate increased efficiency in asset use, with total asset turnover showing a relatively more pronounced positive trend. Equity turnover experienced a dip but recovered over the longer horizon, suggesting a positive shift in generating sales from equity investment. These trends denote generally effective management of company resources in recent years.
Net Fixed Asset Turnover
General Motors Co., net fixed asset turnover calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Automotive net sales and revenue | 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) | 30,353) | 23,426) | 30,744) | 29,067) | 34,093) | 32,067) | 13,363) | 29,150) | |||||||
| Property, net | 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) | 41,115) | 39,637) | 38,822) | 37,797) | 37,632) | 36,989) | 37,066) | 37,969) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Net fixed asset turnover1 | 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 | 2.76 | 2.96 | 3.24 | 2.87 | 2.89 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| Ford Motor Co. | 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 | 3.40 | 3.39 | 3.42 | 3.25 | 3.13 | — | — | — | |||||||
| Tesla Inc. | 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 | 2.85 | 2.71 | 2.67 | 2.59 | 2.47 | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Net fixed asset turnover
= (Automotive net sales and revenueQ2 2025
+ Automotive net sales and revenueQ1 2025
+ Automotive net sales and revenueQ4 2024
+ Automotive net sales and revenueQ3 2024)
÷ Property, net
= (42,869 + 39,861 + 43,599 + 44,735)
÷ 52,159 = 3.28
2 Click competitor name to see calculations.
The automotive net sales and revenue exhibit notable fluctuations over the analyzed periods. Beginning with a significant drop from 29,150 million US dollars in March 2020 to 13,363 million US dollars in June 2020, sales quickly rebounded to over 32,000 million US dollars by September 2020. Following this rebound, the revenue experienced ups and downs but generally maintained a level between approximately 23,000 million and 44,000 million US dollars. The highest value appears in the third quarter of 2024 with 44,735 million US dollars, indicating an overall growth trend in recent quarters compared to earlier periods.
The property, net, shows a consistent upward trajectory throughout the same timeframe. Starting at 37,969 million US dollars in March 2020, the figure steadily increases each quarter, reaching 52,159 million US dollars by June 2025. This progression suggests ongoing investments or appreciation of property assets, with no indication of asset disposals or impairments during the period.
Net fixed asset turnover ratios are not available for the initial quarters but start to be reported from September 2020 onward. The ratio begins at 2.89 and experiences some minor fluctuations while generally improving over time. After a low point of 2.76 in March 2021, the ratio rises steadily, peaking at 3.31 in March 2025, which signifies increasing efficiency in utilizing fixed assets to generate revenue. The improvement indicates better operational performance or enhanced asset utilization practices.
- Automotive Net Sales and Revenue
- Displayed volatility with a sharp decline in mid-2020, followed by recovery and gradual upward movement toward early 2025.
- Sales reached peak values beyond 44,000 million US dollars in 2024, reflecting growth momentum.
- Property, Net
- Demonstrated consistent growth across the review period, steadily increasing by over 14,000 million US dollars between 2020 and mid-2025.
- Indicative of sustained capital investment or asset appreciation without interruptions.
- Net Fixed Asset Turnover Ratio
- Started at 2.89 in late 2020 and gradually increased to 3.31 by early 2025.
- Reflects enhanced efficiency in asset utilization, potentially contributing to revenue improvements.
Total Asset Turnover
General Motors Co., total asset turnover calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Automotive net sales and revenue | 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) | 30,353) | 23,426) | 30,744) | 29,067) | 34,093) | 32,067) | 13,363) | 29,150) | |||||||
| Total assets | 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) | 244,718) | 238,557) | 241,803) | 238,411) | 235,194) | 239,671) | 237,535) | 246,624) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Total asset turnover1 | 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 | 0.46 | 0.49 | 0.52 | 0.46 | 0.46 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| Ford Motor Co. | 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 | 0.49 | 0.49 | 0.51 | 0.45 | 0.43 | — | — | — | |||||||
| Tesla Inc. | 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 | 0.87 | 0.81 | 0.76 | 0.68 | 0.60 | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Total asset turnover
= (Automotive net sales and revenueQ2 2025
+ Automotive net sales and revenueQ1 2025
+ Automotive net sales and revenueQ4 2024
+ Automotive net sales and revenueQ3 2024)
÷ Total assets
= (42,869 + 39,861 + 43,599 + 44,735)
÷ 289,384 = 0.59
2 Click competitor name to see calculations.
- Automotive Net Sales and Revenue
- The automotive net sales and revenue exhibit notable fluctuations over the analyzed periods. Initially, there was a steep decline from 29,150 million USD in March 2020 to 13,363 million USD in June 2020, likely reflecting external market disruptions. Subsequently, revenue rebounded strongly to 32,067 million USD by September 2020 and continued a generally upward trend with some variability. From 2021 through early 2022, sales hovered between approximately 23,426 and 39,834 million USD, showing moderate volatility. Starting in mid-2022, revenue demonstrates a more consistent increase, peaking around 44,735 million USD in September 2024 before experiencing a slight decline at the end of the period. Overall, the trend indicates recovery and growth after an initial sharp downturn, yet with periodic short-term decreases.
- Total Assets
- Total assets remained relatively stable with a slight downward movement initially, dropping from 246,624 million USD at the beginning of 2020 to around 235,194 million USD by the end of 2020. From 2021 onwards, total assets demonstrated a gradual upward trajectory, reaching a peak of 289,384 million USD by the end of June 2025. There are minor fluctuations throughout this timeframe, but the overall pattern suggests steady asset base expansion, reflecting possible investments or accumulation of resources over time.
- Total Asset Turnover Ratio
- The total asset turnover ratio, which measures revenue generated per unit of assets, remains unavailable for the initial quarters of 2020 but becomes available from September 2020 forward. The ratio starts at 0.46 and shows progressive improvement through the periods, moving upward to 0.61 by mid-2025. This upward trend reflects increasing efficiency in utilizing assets to generate revenue. The ratio fluctuates slightly within a narrow range between 0.46 and 0.61, indicating a fairly consistent enhancement in asset productivity across the timeline.
- Summary of Key Insights
- The data indicates that after a significant initial revenue drop in early 2020, the company experienced a robust recovery and steady growth in automotive sales and revenue. Total assets showed modest decline initially but expanded steadily in the subsequent years, supporting growth initiatives. The improvement in total asset turnover suggests enhanced efficiency in asset use, implying better management or operational improvements. Despite some short-term deviations, the overall trends point to strengthened financial performance and operational effectiveness during the analyzed periods.
Equity Turnover
General Motors Co., equity turnover calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Automotive net sales and revenue | 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) | 30,353) | 23,426) | 30,744) | 29,067) | 34,093) | 32,067) | 13,363) | 29,150) | |||||||
| Stockholders’ equity | 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) | 59,744) | 54,150) | 51,669) | 48,343) | 45,030) | 43,341) | 39,304) | 40,113) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Equity turnover1 | 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 | 1.90 | 2.17 | 2.44 | 2.25 | 2.41 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||||||
| Ford Motor Co. | 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 | 2.60 | 3.39 | 3.63 | 3.49 | 3.78 | — | — | — | |||||||
| Tesla Inc. | 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 | 1.78 | 1.73 | 1.69 | 1.56 | 1.42 | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q2 2025 Calculation
Equity turnover
= (Automotive net sales and revenueQ2 2025
+ Automotive net sales and revenueQ1 2025
+ Automotive net sales and revenueQ4 2024
+ Automotive net sales and revenueQ3 2024)
÷ Stockholders’ equity
= (42,869 + 39,861 + 43,599 + 44,735)
÷ 66,363 = 2.58
2 Click competitor name to see calculations.
The financial data reveals notable fluctuations and trends across the analyzed periods. Automotive net sales and revenue exhibit significant variability, with a marked decline in mid-2020 followed by a robust recovery through 2021 and 2022. Sales peak in late 2022 and early 2023, reaching values above 40,000 million US dollars, though there is a slight decline towards the end of the reported periods, with moderate increases afterward.
Stockholders’ equity demonstrates a generally upward trajectory over time, signifying growth in the company's net assets. Starting from approximately 40,113 million US dollars, equity increases steadily to peak around late 2023 at 74,475 million US dollars. Post-peak, there is a visible dip in early 2024 but equity levels remain elevated compared to the initial periods, showing resilience and sustained capitalization through the latest quarters.
Equity turnover ratios, available from the third quarter of 2020 onward, generally fluctuate but remain within a consistent range between 1.86 and 2.72. The ratio experiences a dip around late 2021, falling below 2, and subsequently recovers reaching above 2.5 in the latter periods. This pattern suggests variable efficiency in utilizing equity to generate sales, with periods of both decreased and improved turnover efficiency.
- Automotive Net Sales and Revenue
- Marked decline during the second quarter of 2020, likely reflecting external market disruptions. Recovery and growth through 2021 and 2022, with notable peaks reaching above 40 billion US dollars. Slight moderation in sales volumes in late 2023 and early 2024, followed by fluctuating but generally elevated sales figures.
- Stockholders’ Equity
- Consistent upward trend from just above 40 billion US dollars in early 2020 to a peak exceeding 74 billion in late 2023. Minor contraction seen in 2024, yet equity remains significantly higher than the initial periods, indicating sustained shareholder value growth.
- Equity Turnover
- Initial readings show high turnover (above 2.4), followed by a drop below 2 in late 2021, then gradual recovery beyond 2.5. This suggests fluctuating operational efficiency with respect to equity utilization, potentially related to market conditions and sales volume changes.