Common Stock Valuation Ratios (Price Multiples)
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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General Motors Co. pages available for free this week:
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Current Ratio since 2010
- Price to Earnings (P/E) since 2010
- Price to Sales (P/S) since 2010
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Current Valuation Ratios
General Motors Co., current price multiples
| General Motors Co. | Ford Motor Co. | Tesla Inc. | Automobiles & Components | Consumer Discretionary | ||||
|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||
| Current share price (P) | ||||||||
| No. shares of common stock outstanding | ||||||||
| Growth rate (g) | ||||||||
| Earnings per share (EPS) | ||||||||
| Next year expected EPS | ||||||||
| Operating profit per share | ||||||||
| Sales per share | ||||||||
| Book value per share (BVPS) | ||||||||
| Valuation Ratios (Price Multiples) | ||||||||
| Price to earnings (P/E) | ||||||||
| Price to next year expected earnings | ||||||||
| Price-earnings-growth (PEG) | ||||||||
| Price to operating profit (P/OP) | ||||||||
| Price to sales (P/S) | ||||||||
| Price to book value (P/BV) | ||||||||
Based on: 10-K (reporting date: 2024-12-31).
If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
General Motors Co., historical price multiples
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Price to earnings (P/E) | ||||||
| Price to operating profit (P/OP) | ||||||
| Price to sales (P/S) | ||||||
| Price to book value (P/BV) |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The analysis of financial ratios over the five-year period reveals several notable trends in valuation metrics.
- Price to Earnings (P/E) Ratio
- There is a marked decrease in the P/E ratio from 12.66 in 2020 to a low of 4.39 in 2023, followed by a moderate increase to 6.93 in 2024. This trend suggests that earnings have grown relative to the company's stock price, or conversely, that the stock price declined faster than earnings until 2023, with some recovery in valuation in the final year.
- Price to Operating Profit (P/OP) Ratio
- Similar to the P/E ratio, the P/OP ratio exhibits a decreasing trend from 11.92 in 2020 down to 3.89 in 2024. The ratio declines steadily each year, indicating improving operating profitability relative to market valuation, or a decline in the company’s share price relative to operating profits.
- Price to Sales (P/S) Ratio
- The P/S ratio trends downward consistently from 0.73 in 2020 to 0.29 in 2023 and remains nearly flat in 2024. This sustained decline points to a diminishing market valuation relative to sales, suggesting either lower investor confidence or sales growth outpacing stock price appreciation.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio decreases from 1.76 in 2020 to 0.69 in 2023, with a slight increase to 0.79 in 2024. This indicates that the company’s market capitalization fell below its book value by 2023 and remains below book value in 2024, while the slight uptick in the last year could signal a modest return of investor confidence or an improvement in the underlying equity value.
Overall, the financial ratios demonstrate a general decline in the market valuation relative to earnings, operating profits, sales, and book value between 2020 and 2023. This suggests either deteriorating investor sentiment, challenges in market conditions, or improvements in fundamental performance metrics exceeding valuation changes. The partial recovery observed in the P/E and P/BV ratios in 2024 may reflect some stabilization or positive developments in the company's financial outlook or market perception.
Price to Earnings (P/E)
General Motors Co., historical P/E calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Net income attributable to common stockholders (in millions) | ||||||
| Earnings per share (EPS)2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/E ratio4 | ||||||
| Benchmarks | ||||||
| P/E Ratio, Competitors5 | ||||||
| Ford Motor Co. | ||||||
| Tesla Inc. | ||||||
| P/E Ratio, Sector | ||||||
| Automobiles & Components | ||||||
| P/E Ratio, Industry | ||||||
| Consumer Discretionary | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
EPS = Net income attributable to common stockholders ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of General Motors Co. Annual Report.
4 2024 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price showed a declining trend from 54.88 US$ at the end of 2020 to 38.15 US$ by the end of 2023. However, there was a notable recovery in 2024, reaching 50.04 US$. This suggests a period of market undervaluation or external factors negatively impacting the stock price, followed by renewed investor confidence towards the end of the period.
- Earnings Per Share (EPS)
- Earnings per share increased overall across the observed period, rising from 4.34 US$ in 2020 to a peak of 8.68 US$ in 2023, before slightly declining to 7.23 US$ in 2024. The strong growth in EPS indicates improved profitability and operational performance, although the dip in 2024 may indicate emerging pressures or strategic investments impacting short-term earnings.
- Price to Earnings Ratio (P/E)
- The P/E ratio exhibited a decreasing pattern from 12.66 in 2020 to 4.39 in 2023, followed by an increase to 6.93 in 2024. The initial sharp decline suggests the market was assigning a lower valuation multiple relative to earnings, potentially reflecting skepticism or risk concerns despite rising EPS. The rebound in P/E in 2024 corresponds with the recovery in share price, reflecting restored market optimism or expectations for future growth.
Price to Operating Profit (P/OP)
General Motors Co., historical P/OP calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Operating income (in millions) | ||||||
| Operating profit per share2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/OP ratio4 | ||||||
| Benchmarks | ||||||
| P/OP Ratio, Competitors5 | ||||||
| Ford Motor Co. | ||||||
| Tesla Inc. | ||||||
| P/OP Ratio, Sector | ||||||
| Automobiles & Components | ||||||
| P/OP Ratio, Industry | ||||||
| Consumer Discretionary | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of General Motors Co. Annual Report.
4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The financial data reveals several key trends over the five-year period ending in 2024. The share price experienced fluctuations, initially decreasing from 54.88 US$ in 2020 to a low of 38.15 US$ in 2023, followed by a notable recovery to 50.04 US$ in 2024. This pattern suggests volatility with a recent positive turnaround.
Operating profit per share demonstrated consistent growth throughout the period. Starting at 4.6 US$ in 2020, it increased steadily each year to reach 12.85 US$ by the end of 2024. This upward trend indicates improving operational efficiency and profitability on a per-share basis.
The price-to-operating profit ratio (P/OP) declined markedly from 11.92 in 2020 to 3.89 in 2024. This decrease reflects an enhanced valuation relative to earnings, showing that the market price of shares is becoming more aligned with operating profit generation. The sustained reduction in this ratio underscores improved earnings performance which may have contributed to increased investor confidence, particularly evident in the share price recovery in 2024.
- Share Price Trend
- Decreased from 54.88 US$ in 2020 to 38.15 US$ in 2023, then rose to 50.04 US$ in 2024.
- Operating Profit per Share Trend
- Consistently increased from 4.6 US$ in 2020 to 12.85 US$ in 2024, indicating operational improvement.
- Price-to-Operating Profit Ratio
- Declined from 11.92 in 2020 to 3.89 in 2024, suggesting shares are becoming more fairly valued relative to operating profits.
Price to Sales (P/S)
General Motors Co., historical P/S calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Automotive net sales and revenue (in millions) | ||||||
| Sales per share2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/S ratio4 | ||||||
| Benchmarks | ||||||
| P/S Ratio, Competitors5 | ||||||
| Ford Motor Co. | ||||||
| Tesla Inc. | ||||||
| P/S Ratio, Sector | ||||||
| Automobiles & Components | ||||||
| P/S Ratio, Industry | ||||||
| Consumer Discretionary | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
Sales per share = Automotive net sales and revenue ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of General Motors Co. Annual Report.
4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
The financial data reveals several notable trends in the company's performance over the five-year period from 2020 to 2024. The share price experienced a decline from $54.88 at the end of 2020 to $38.15 in 2023, followed by a recovery to $50.04 in 2024. This suggests some volatility in the market valuation with a partial rebound in the final year.
Sales per share showed consistent and significant growth throughout the period, rising from $75.42 in 2020 to $172.47 in 2024. This more than doubling of sales per share indicates a strong improvement in revenue generation relative to the number of shares outstanding.
The price-to-sales (P/S) ratio demonstrates a declining trend from 0.73 in 2020 down to 0.28 in 2023, with a slight increase to 0.29 in 2024. A decreasing P/S ratio, despite rising sales per share, suggests that the market price is not keeping pace with sales growth, potentially reflecting investor caution or other market factors influencing the stock valuation.
- Share Price
- Decreased steadily from 2020 through 2023, then partially recovered in 2024.
- Sales per Share
- Increased substantially and consistently throughout the period, indicating improved business performance.
- Price-to-Sales Ratio
- Declined significantly over time, implying that market valuation has not matched the growth in sales per share.
Overall, while the company has demonstrated strong operational growth as reflected in the sales per share, market valuation trends exhibit caution, with lagging share price performance relative to sales growth. The slight P/S ratio uptick in 2024 may indicate a beginning of renewed investor confidence.
Price to Book Value (P/BV)
General Motors Co., historical P/BV calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Stockholders’ equity (in millions) | ||||||
| Book value per share (BVPS)2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/BV ratio4 | ||||||
| Benchmarks | ||||||
| P/BV Ratio, Competitors5 | ||||||
| Ford Motor Co. | ||||||
| Tesla Inc. | ||||||
| P/BV Ratio, Sector | ||||||
| Automobiles & Components | ||||||
| P/BV Ratio, Industry | ||||||
| Consumer Discretionary | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 Data adjusted for splits and stock dividends.
2 2024 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of General Motors Co. Annual Report.
4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The analysis of the annual financial data reveals notable trends in the company's share price, book value per share (BVPS), and price-to-book value (P/BV) ratio over the observed periods.
- Share Price
- The share price exhibited a downward trend from 2020 through 2023, decreasing from $54.88 to $38.15. In 2024, there was a significant recovery with the share price rising to $50.04. This pattern indicates a period of decline over three years followed by a rebound in the most recent year.
- Book Value Per Share (BVPS)
- There was a consistent upward trend in the book value per share across all years, increasing steadily from $31.25 in 2020 to $63.39 in 2024. This continuous increase suggests strengthening underlying net asset value per share, reflecting an improvement in the company's equity base over time.
- Price-to-Book Value (P/BV) Ratio
- The price-to-book value ratio showed a marked decline from 1.76 in 2020 to a low of 0.69 in 2023, before slightly increasing to 0.79 in 2024. This downward trend reflects that the market valuation of the stock decreased relative to its book value per share during this period, potentially indicating diminished investor confidence or a reassessment of the company's future growth prospects. The slight uptick in 2024 aligns with the share price recovery observed that year.
Overall, the data indicate that while the company's intrinsic book value per share has consistently grown, market valuation as expressed by the share price and P/BV ratio experienced a notable decline during most of the period, with signs of recovery in the latest year. This divergence suggests that investor sentiment or external market conditions might have influenced price movements independently of the company’s improving equity position.