Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
General Motors Co., profitability 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).
- Gross Profit Margin
- The gross profit margin data beginning from March 2020 reveals a gradual improvement through 2021, peaking at approximately 12.88% in September 2021. After this peak, the margin exhibits a modest decline in late 2021 and early 2022, hovering around the low double-digit range. Throughout 2023 and into the first half of 2024, the gross margin fluctuates slightly but remains relatively stable, mostly staying between 10.36% and 12.32%. Toward the latter half of 2024 and the first half of 2025, the margin shows a declining trend, ending close to 10.6% and then decreasing further to around 10.6% by June 2025.
- Operating Profit Margin
- The operating profit margin follows a similar upward trajectory in 2020 and into 2021, rising from 6.1% in March 2020 to a peak near 10.6% in September 2021. After this peak, the margin experiences a decline through the end of 2021 and stabilizes somewhat in 2022, maintaining levels between approximately 6.27% and 8.21%. In 2023 and early 2024, the operating margin remains relatively stable around the 6% to 7.5% range. A decline is again observed beginning in mid-2024, with the margin dropping to around 6.23% by June 2025, indicating some pressure on operational efficiency or increased costs.
- Net Profit Margin
- The net profit margin increases steadily from 5.91% in March 2020 to a high of about 10.12% in September 2021. Following this peak, a gradual decline ensues, with margins dropping to around 7.2% to 8.82% throughout 2022 and fluctuating modestly in 2023 and early 2024. Starting mid-2024, there is a more pronounced downward trend, with net margin falling sharply to approximately 2.79% by June 2025. This significant drop suggests increasing net expenses, possibly due to rising financial costs, taxes, or other non-operating losses.
- Return on Equity (ROE)
- ROE shows strong growth from 14.27% in March 2020 to a peak of 24.67% in September 2021, indicating improved profitability relative to shareholder equity. Following the peak, ROE declines steeply to about 13.75% by September 2022 and remains roughly between 13% and 16% through 2023 and early 2024. A sharp decline is observed in mid-2024, with ROE falling to 7.19% by June 2025, reflecting diminishing profitability and possibly increased equity base or lower net income during this period.
- Return on Assets (ROA)
- ROA increases steadily from 2.73% in March 2020 to a maximum of 5.27% in September 2020, followed by a decrease to levels around 3.47%–4.09% persisting through 2022 and early 2023. Modest fluctuations occur into the first half of 2024, with ROA largely remaining within the mid-3% to high-3% range. The metric takes a notable downturn starting mid-2024, dropping to 1.65% by June 2025. This trend suggests reduced efficiency in asset utilization to generate profit toward the end of the period under review.
Return on Sales
Return on Investment
Gross Profit Margin
General Motors Co., gross profit margin 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 and other gross margin | 3,580) | 4,670) | 4,152) | 5,728) | 5,445) | 5,216) | 2,651) | 4,656) | 4,622) | 4,399) | 5,255) | 5,004) | 3,353) | 3,471) | 2,862) | 2,754) | 3,478) | 3,952) | 3,893) | 4,898) | (81) | 2,424) | |||||||
| 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) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Gross profit margin1 | 10.60% | 11.61% | 11.97% | 11.38% | 11.02% | 10.70% | 10.36% | 11.96% | 12.32% | 12.19% | 11.87% | 10.92% | 10.43% | 10.71% | 11.49% | 12.00% | 12.88% | 11.66% | 10.25% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Ford Motor Co. | 6.65% | 7.69% | 8.26% | 7.60% | 8.11% | 8.61% | 9.25% | 10.30% | 10.07% | 10.22% | 9.85% | 9.58% | 10.10% | 8.41% | 9.20% | 7.13% | 7.30% | 5.61% | 2.75% | — | — | — | |||||||
| Tesla Inc. | 17.48% | 17.66% | 17.86% | 18.23% | 17.72% | 17.78% | 18.25% | 19.81% | 21.49% | 23.13% | 25.60% | 26.61% | 27.10% | 27.10% | 25.28% | 23.11% | 22.04% | 21.18% | 21.02% | — | — | — | |||||||
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
Gross profit margin = 100
× (Automotive and other gross marginQ2 2025
+ Automotive and other gross marginQ1 2025
+ Automotive and other gross marginQ4 2024
+ Automotive and other gross marginQ3 2024)
÷ (Automotive net sales and revenueQ2 2025
+ Automotive net sales and revenueQ1 2025
+ Automotive net sales and revenueQ4 2024
+ Automotive net sales and revenueQ3 2024)
= 100 × (3,580 + 4,670 + 4,152 + 5,728)
÷ (42,869 + 39,861 + 43,599 + 44,735)
= 10.60%
2 Click competitor name to see calculations.
- Automotive and other gross margin
- The gross margin fluctuated significantly over the observed periods. Starting with a positive margin of 2,424 million USD in March 2020, it dropped sharply to a negative figure of -81 million USD in June 2020. Thereafter, it generally exhibited an increasing trend, peaking at 5,255 million USD in December 2022, followed by some volatility. Margins remained mostly strong through 2023 and early 2024 but saw a notable decline in December 2023 to 2,651 million USD. In 2024 and into mid-2025, the margin again showed an upward movement before decreasing towards June 2025. Overall, the gross margin portrays cyclical volatility but tends to recover strongly after each dip.
- Automotive net sales and revenue
- Net sales and revenue showed substantial variation across quarters. Initially, a marked decrease occurred from 29,150 million USD in March 2020 to 13,363 million USD in June 2020, likely reflecting external disruptions. Subsequently, sales rebounded sharply, reaching above 40,000 million USD several times during 2022 and 2023. The revenue remained mostly stable in the 39,000 to 45,000 million USD range from 2022 through mid-2025, with minor fluctuations. Notably, there was a downturn in March and June 2025 compared to prior periods, which may warrant attention. In summary, the revenue trend shows recovery and stabilization after early declines, with some signs of variability in the most recent quarters.
- Gross profit margin (%)
- The gross profit margin percentage was unavailable in early 2020 but became consistently measurable from September 2020 onward. It demonstrated a generally positive trend, starting at 10.25% in September 2020 and improving gradually to a peak of approximately 12.32% by September 2023. Some fluctuations were evident, including a dip to 10.36% in March 2024. The margin held above 10% across almost all periods, indicating sustained profitability. The slight volatility suggests sensitivity to operational and market conditions but overall reflects a healthy profitability trend over the medium term.
- Summary of trends
- The data indicates a period of significant disruption around mid-2020, evidenced by sharp declines in gross margin and revenue. Following this, a recovery phase is observed with gross margins and revenues improving steadily into 2022 and 2023. Margins peaked late 2022 and mid-2023 but showed some volatility thereafter. The gross profit margin percentage improved over time, reflecting enhanced operational efficiency or favorable pricing but experienced minor setbacks in early 2024. Recently, both margin and revenue have shown signs of deceleration or increased variability, which may suggest emerging challenges or market fluctuations. Continuous monitoring of these trends is advisable to address and adapt to changing conditions promptly.
Operating Profit Margin
General Motors Co., operating profit margin 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) | |||||||||||||||||||||||||||||
| Operating income (loss) | 2,127) | 3,352) | 1,522) | 3,651) | 3,873) | 3,738) | 918) | 3,013) | 2,789) | 2,578) | 2,611) | 3,392) | 2,116) | 2,196) | 1,520) | 1,645) | 2,882) | 3,277) | 2,767) | 4,424) | (1,214) | 657) | |||||||
| 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) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Operating profit margin1 | 6.23% | 7.20% | 7.45% | 7.28% | 7.08% | 6.53% | 5.90% | 6.95% | 7.27% | 7.24% | 7.16% | 6.86% | 6.27% | 7.02% | 8.21% | 9.01% | 10.60% | 8.52% | 6.10% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Ford Motor Co. | 1.71% | 2.53% | 3.02% | 2.19% | 2.36% | 2.74% | 3.29% | 4.42% | 4.14% | 4.52% | 4.21% | 3.82% | 4.54% | 2.72% | 3.58% | 1.08% | 1.87% | -0.33% | -3.80% | — | — | — | |||||||
| Tesla Inc. | 6.06% | 6.59% | 7.24% | 7.78% | 6.93% | 7.81% | 9.19% | 11.18% | 13.46% | 14.78% | 16.76% | 16.52% | 15.91% | 15.33% | 12.12% | 9.57% | 7.86% | 6.41% | 6.32% | — | — | — | |||||||
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
Operating profit margin = 100
× (Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024
+ Operating income (loss)Q3 2024)
÷ (Automotive net sales and revenueQ2 2025
+ Automotive net sales and revenueQ1 2025
+ Automotive net sales and revenueQ4 2024
+ Automotive net sales and revenueQ3 2024)
= 100 × (2,127 + 3,352 + 1,522 + 3,651)
÷ (42,869 + 39,861 + 43,599 + 44,735)
= 6.23%
2 Click competitor name to see calculations.
The data reveals fluctuating operating income, net sales, and profit margins over the observed periods. The operating income exhibits significant volatility, with a notable loss recorded in the second quarter of 2020 (-$1,214 million), followed by a sharp recovery and peak in the third quarter of 2020 ($4,424 million). Subsequently, operating income stabilizes at relatively positive levels but with intervals of decline, especially in early 2024 and mid-2025.
Automotive net sales and revenue demonstrate a generally upward trend, starting from approximately $29,150 million in the first quarter of 2020, dipping in the second quarter of 2020 ($13,363 million), and rising thereafter, peaking near or above $44,000 million in late 2024. The minor declines and recoveries across quarters suggest the company navigated external challenges while managing to grow top-line revenue over the longer term.
Operating profit margin data, available from late 2020 onward, shows fluctuating but generally stable margin percentages, ranging mostly between 5.9% and 10.6%. Higher margins occurred in the second half of 2021, with a peak of 10.6% in the third quarter of 2021. Following this, the margin settles into a band around 6% to 7.5%, with modest variations but no drastic decreases, indicating consistent profitability relative to revenue after initial recovery periods.
- Operating Income (Loss)
- Highly volatile with sharp loss in Q2 2020 followed by strong recovery; peaks in Q3 2020; intermittent declines in early 2024 and mid-2025 signaling potential operational challenges or market effects during those quarters.
- Automotive Net Sales and Revenue
- Initially affected in Q2 2020 with substantial decrease; recovers and trends upward steadily; enjoys peak quarters reaching approximately $44 billion in late 2024; demonstrates overall growth in revenue despite intermittent quarter-to-quarter fluctuations.
- Operating Profit Margin (%)
- Data indicates stable profitability margins post-Q2 2020 with a peak of 10.6% in Q3 2021; margins generally reside between 6% and 7.5% afterward, suggesting sustained operational efficiency and resilience in cost management.
In conclusion, the financial metrics suggest the entity experienced impactful disruptions in early 2020, likely related to external market or economic factors, but managed significant recovery and revenue growth subsequently. The operating income's volatility contrasts with relatively stable profit margins in later periods, revealing the company's adaptive capacity in maintaining profitability as revenue scales up.
Net Profit Margin
General Motors Co., net profit margin calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to stockholders | 1,895) | 2,784) | (2,961) | 3,056) | 2,933) | 2,980) | 2,102) | 3,064) | 2,566) | 2,395) | 1,998) | 3,305) | 1,692) | 2,939) | 1,741) | 2,420) | 2,836) | 3,022) | 2,846) | 4,045) | (758) | 294) | |||||||
| 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) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| Net profit margin1 | 2.79% | 3.37% | 3.50% | 6.62% | 6.80% | 6.69% | 6.42% | 6.33% | 6.56% | 6.35% | 6.90% | 7.20% | 7.37% | 8.47% | 8.82% | 9.48% | 10.12% | 8.43% | 5.91% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||||||
| Ford Motor Co. | 1.83% | 2.95% | 3.40% | 2.06% | 2.27% | 2.35% | 2.62% | 3.75% | 2.58% | 1.85% | -1.33% | 6.32% | 8.42% | 9.26% | 14.21% | 2.31% | 2.72% | 3.37% | -1.10% | — | — | — | |||||||
| Tesla Inc. | 6.34% | 6.38% | 7.26% | 13.26% | 13.19% | 14.64% | 15.50% | 11.21% | 12.97% | 13.66% | 15.41% | 14.95% | 14.17% | 13.51% | 10.25% | 7.40% | 5.21% | 3.18% | 2.29% | — | — | — | |||||||
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 profit margin = 100
× (Net income (loss) attributable to stockholdersQ2 2025
+ Net income (loss) attributable to stockholdersQ1 2025
+ Net income (loss) attributable to stockholdersQ4 2024
+ Net income (loss) attributable to stockholdersQ3 2024)
÷ (Automotive net sales and revenueQ2 2025
+ Automotive net sales and revenueQ1 2025
+ Automotive net sales and revenueQ4 2024
+ Automotive net sales and revenueQ3 2024)
= 100 × (1,895 + 2,784 + -2,961 + 3,056)
÷ (42,869 + 39,861 + 43,599 + 44,735)
= 2.79%
2 Click competitor name to see calculations.
The analysis of quarterly financial data reveals several notable trends in profitability and revenue generation over the reported periods.
- Net Income (Loss) Attributable to Stockholders (US$ in millions)
-
The net income figures demonstrate significant volatility across the quarters. Beginning with a positive result in early 2020, the company experienced a sharp loss in the second quarter of 2020, followed by recovery and several positive quarters through 2021 and 2022. Notably, there was a general upward trend in net income from late 2021 through 2023, with some fluctuations. However, starting in 2024, the net income shows a marked decline with a substantial loss recorded in the first quarter of 2025, before recovering somewhat in the subsequent quarters. This pattern indicates periods of strong profitability interspersed with substantial losses, suggesting exposure to operational or market challenges during certain quarters.
- Automotive Net Sales and Revenue (US$ in millions)
-
The revenue data reflects a general upward trend over the observed period. Initial quarters in 2020 showed decreased sales, likely related to external factors impacting demand, but from late 2020 onwards there was a steady increase in automotive sales revenue. The revenue consistently grew through 2022 and 2023, peaking in late 2024, and although there were some slight decreases afterward, the overall level remained elevated compared to the earlier years. This pattern suggests recovery and growth in sales, potentially driven by increased market presence, higher demand, or pricing strategies.
- Net Profit Margin (%)
-
Profit margin data is available from late 2020 forward and indicates a peak around mid-2021 to early 2022, with margins exceeding 8%. Subsequently, profit margins showed a gradual decline, falling to below 7% by late 2023 and further dropping to between approximately 2.8% and 3.5% in early 2025. This decline in profitability ratios, despite generally stable or increasing sales, may reflect increased costs, pricing pressure, or other operational challenges negatively impacting profitability.
In summary, the company's revenue trend is positive overall, showing recovery and growth following an initial downturn, whereas net income and profit margins have exhibited greater variability with signs of pressure in recent quarters. The fluctuations in net income, together with declining profit margins, suggest that profitability has been challenged despite the rising revenue base.
Return on Equity (ROE)
General Motors Co., ROE 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) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to stockholders | 1,895) | 2,784) | (2,961) | 3,056) | 2,933) | 2,980) | 2,102) | 3,064) | 2,566) | 2,395) | 1,998) | 3,305) | 1,692) | 2,939) | 1,741) | 2,420) | 2,836) | 3,022) | 2,846) | 4,045) | (758) | 294) | |||||||
| 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) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROE1 | 7.19% | 9.03% | 9.53% | 15.61% | 16.14% | 16.08% | 15.75% | 13.46% | 14.32% | 13.44% | 14.65% | 14.83% | 13.75% | 16.00% | 16.77% | 20.54% | 24.67% | 18.94% | 14.27% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||||||
| Ford Motor Co. | 6.99% | 11.24% | 13.11% | 7.96% | 8.80% | 9.15% | 10.16% | 13.92% | 9.47% | 6.81% | -4.58% | 21.39% | 26.42% | 25.71% | 36.97% | 7.83% | 9.87% | 11.75% | -4.17% | — | — | — | |||||||
| Tesla Inc. | 7.61% | 8.18% | 9.73% | 18.43% | 18.91% | 21.55% | 23.94% | 20.12% | 23.85% | 24.45% | 28.09% | 28.08% | 26.16% | 24.64% | 18.28% | 12.82% | 8.79% | 4.97% | 3.24% | — | — | — | |||||||
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
ROE = 100
× (Net income (loss) attributable to stockholdersQ2 2025
+ Net income (loss) attributable to stockholdersQ1 2025
+ Net income (loss) attributable to stockholdersQ4 2024
+ Net income (loss) attributable to stockholdersQ3 2024)
÷ Stockholders’ equity
= 100 × (1,895 + 2,784 + -2,961 + 3,056)
÷ 66,363 = 7.19%
2 Click competitor name to see calculations.
The financial data reveals several notable trends in profitability, equity, and return on equity (ROE) over the observed quarters.
- Net Income (Loss) Attributable to Stockholders
- The net income figures demonstrate high variability, including significant fluctuations between gains and losses. Early in the period, there is a notable loss of 758 million US dollars in June 2020 followed by a sharp rebound to a positive 4,045 million US dollars in September 2020. Throughout subsequent quarters, net income generally remains positive, with recurring fluctuations. Notably, large positive spikes occur at the beginning of fiscal years such as March 2021 and March 2022. However, losses reappear toward the end of the timeline, particularly a considerable loss of 2,961 million US dollars in March 2025. This suggests the company's earnings are subject to cyclicality and possibly impacted by seasonal or operational factors.
- Stockholders’ Equity
- Stockholders’ equity shows an overall increasing trend from 40,113 million US dollars in March 2020 to a peak around 74,475 million US dollars in September 2023. After this peak, equity decreases notably in the final quarters, dropping to 63,363 million US dollars in June 2025. The general upward trend indicates growth in the company's net assets over most of the period, with stronger gains particularly visible between 2020 and late 2023. The subsequent decline may reflect distributions, losses, or other equity-reducing activities.
- Return on Equity (ROE)
- ROE percentages are only available starting from the December 2020 quarter and show positive returns consistently, with values ranging from approximately 7.19% to 24.67%. The highest return was recorded in September 2021, indicating a period of strong profitability relative to equity. The trend exhibits some volatility but generally maintains a range between roughly 9% and 16% outside of the peak. Toward the end of the period, a declining trend in ROE is observed, with the lowest recorded values appearing in the final year, consistent with the observed reduction in net income and stockholders’ equity.
In summary, the observed financial metrics highlight periods of strong profitability interspersed with losses, a general uptrend in equity that peaks before declining, and ROE values consistent with profitability fluctuations. These patterns suggest the company experiences variable earnings performance, with challenges emerging in the latest periods that impact both profitability and equity returns.
Return on Assets (ROA)
General Motors Co., ROA 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) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to stockholders | 1,895) | 2,784) | (2,961) | 3,056) | 2,933) | 2,980) | 2,102) | 3,064) | 2,566) | 2,395) | 1,998) | 3,305) | 1,692) | 2,939) | 1,741) | 2,420) | 2,836) | 3,022) | 2,846) | 4,045) | (758) | 294) | |||||||
| 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) | |||||||
| Profitability Ratio | |||||||||||||||||||||||||||||
| ROA1 | 1.65% | 2.06% | 2.15% | 3.83% | 3.92% | 3.87% | 3.71% | 3.56% | 3.72% | 3.52% | 3.76% | 3.71% | 3.47% | 3.95% | 4.09% | 4.66% | 5.27% | 3.84% | 2.73% | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||||||
| Ford Motor Co. | 1.08% | 1.76% | 2.06% | 1.23% | 1.39% | 1.43% | 1.59% | 2.30% | 1.55% | 1.12% | -0.77% | 3.65% | 4.75% | 4.57% | 6.98% | 1.13% | 1.38% | 1.52% | -0.48% | — | — | — | |||||||
| Tesla Inc. | 4.58% | 4.88% | 5.81% | 10.75% | 11.14% | 12.70% | 14.07% | 11.45% | 13.46% | 13.53% | 15.25% | 15.04% | 13.89% | 12.72% | 8.88% | 6.00% | 3.95% | 2.16% | 1.38% | — | — | — | |||||||
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
ROA = 100
× (Net income (loss) attributable to stockholdersQ2 2025
+ Net income (loss) attributable to stockholdersQ1 2025
+ Net income (loss) attributable to stockholdersQ4 2024
+ Net income (loss) attributable to stockholdersQ3 2024)
÷ Total assets
= 100 × (1,895 + 2,784 + -2,961 + 3,056)
÷ 289,384 = 1.65%
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in profitability, asset management, and overall financial performance across the reported periods.
- Net Income (Loss) Attributable to Stockholders
- The net income figures exhibit significant volatility throughout the periods. The earliest quarter shows a positive net income, followed by a substantial loss in the second quarter of 2020. This was succeeded by strong recoveries, reaching peaks in multiple quarters such as September 2020 and March 2022. The trend includes alternating periods of high and moderate earnings, with a notable loss re-emerging in the March 2025 quarter, suggesting fluctuations in profitability possibly linked to market or operational factors.
- Total Assets
- Total assets demonstrate a general upward trajectory over the examined timeline. The amount increased steadily from approximately 246.6 billion US dollars at the start of the series to nearly 289.4 billion US dollars by the last quarter in 2025. This gradual growth indicates an expansion of the company's asset base, reflecting possible investments, acquisitions, or capital improvements contributing to long-term capacity.
- Return on Assets (ROA)
- The ROA shows a pattern of moderate stability with minor fluctuations. Although initial values before the first reported quarter are missing, the available ROA figures start at 2.73% and rapidly rise to above 5% by the third quarter of 2020. Subsequently, the metric stabilizes mostly between approximately 3% and 4%, showing consistent but modest profitability relative to assets. Towards the end of the period, specifically in 2025, ROA declines notably to below 2%, reflecting reduced efficiency in generating profit from asset utilization during those quarters.
Overall, the company’s financial performance displays a complex pattern marked by periods of significant earnings variability, alongside steady asset growth and a generally consistent return on assets. The downturns in net income and ROA toward the latest quarters warrant attention for potential underlying causes affecting profitability.