Stock Analysis on Net

General Motors Co. (NYSE:GM)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel

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).


Historical Valuation Ratios (Summary)

General Motors Co., historical price multiples (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Price to earnings (P/E) 4.39 3.94 5.13 4.92 6.15 6.09 6.29 6.37 7.90 7.20 6.09 9.31 12.66 16.54 24.34 6.65 7.61
Price to operating profit (P/OP) 4.74 3.56 4.59 4.28 5.32 5.70 6.50 6.84 8.34 7.45 5.73 9.03 11.92 16.05 31.06 6.40 9.13
Price to sales (P/S) 0.28 0.25 0.33 0.31 0.38 0.39 0.41 0.48 0.68 0.67 0.61 0.77 0.73 0.52 0.36 0.26 0.41
Price to book value (P/BV) 0.69 0.53 0.73 0.65 0.81 0.81 0.76 0.91 1.30 1.45 1.48 1.73 1.76 1.23 0.94 0.78 1.20 1.22 1.34 1.36

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. General Motors Co. P/E ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. General Motors Co. P/OP ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. General Motors Co. P/S ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. General Motors Co. P/BV ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 not reaching Q2 2023 level.

Price to Earnings (P/E)

General Motors Co., historical P/E calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 1,154,433,287 1,369,481,206 1,375,905,293 1,390,123,499 1,394,637,226 1,420,696,787 1,458,048,958 1,458,022,912 1,453,021,337 1,451,860,294 1,451,723,812 1,450,670,870 1,440,912,820 1,431,307,600 1,431,096,512 1,431,076,476 1,429,002,063 1,428,784,056 1,427,729,248 1,418,392,858
Selected Financial Data (US$)
Net income (loss) attributable to common stockholders (in millions) 2,075 3,038 2,540 2,369 1,984 3,278 1,666 1,987 1,696 2,375 2,790 2,976 2,801 4,005 (806) 247 (232) 2,313 2,381 2,119
Earnings per share (EPS)2 8.68 7.25 7.39 6.69 6.39 6.07 5.30 6.07 6.77 7.54 8.66 6.19 4.34 2.25 1.06 3.29 4.61 0.00 0.00 0.00
Share price1, 3 38.15 28.56 37.92 32.91 39.32 37.01 33.34 38.66 53.50 54.26 52.72 57.58 54.88 37.14 25.89 21.89 35.03 37.91 40.15 38.95
Valuation Ratio
P/E ratio4 4.39 3.94 5.13 4.92 6.15 6.09 6.29 6.37 7.90 7.20 6.09 9.31 12.66 16.54 24.34 6.65 7.61
Benchmarks
P/E Ratio, Competitors5
Ford Motor Co. 11.70 6.47 12.83 16.34 5.80 4.82 5.08 4.01 23.50 16.81 11.30 701.03
Tesla Inc. 40.55 62.68 70.03 43.84 43.65 59.61 88.39 123.10 169.91 296.78 292.69 585.25 1,149.47 715.90 746.75

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2023 Calculation
EPS = (Net income (loss) attributable to common stockholdersQ4 2023 + Net income (loss) attributable to common stockholdersQ3 2023 + Net income (loss) attributable to common stockholdersQ2 2023 + Net income (loss) attributable to common stockholdersQ1 2023) ÷ No. shares of common stock outstanding
= (2,075,000,000 + 3,038,000,000 + 2,540,000,000 + 2,369,000,000) ÷ 1,154,433,287 = 8.68

3 Closing price as at the filing date of General Motors Co. Quarterly or Annual Report.

4 Q4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 38.15 ÷ 8.68 = 4.39

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. General Motors Co. P/E ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023.

Price to Operating Profit (P/OP)

General Motors Co., historical P/OP calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 1,154,433,287 1,369,481,206 1,375,905,293 1,390,123,499 1,394,637,226 1,420,696,787 1,458,048,958 1,458,022,912 1,453,021,337 1,451,860,294 1,451,723,812 1,450,670,870 1,440,912,820 1,431,307,600 1,431,096,512 1,431,076,476 1,429,002,063 1,428,784,056 1,427,729,248 1,418,392,858
Selected Financial Data (US$)
Operating income (loss) (in millions) 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 (554) 2,304 2,487 1,244
Operating profit per share2 8.05 8.03 8.26 7.69 7.40 6.49 5.13 5.65 6.42 7.28 9.20 6.38 4.60 2.31 0.83 3.42 3.84 0.00 0.00 0.00
Share price1, 3 38.15 28.56 37.92 32.91 39.32 37.01 33.34 38.66 53.50 54.26 52.72 57.58 54.88 37.14 25.89 21.89 35.03 37.91 40.15 38.95
Valuation Ratio
P/OP ratio4 4.74 3.56 4.59 4.28 5.32 5.70 6.50 6.84 8.34 7.45 5.73 9.03 11.92 16.05 31.06 6.40 9.13
Benchmarks
P/OP Ratio, Competitors5
Ford Motor Co. 9.32 5.49 7.99 6.69 8.40 9.58 8.95 17.27 15.90 50.21 24.45 57.40
Tesla Inc. 68.39 62.84 67.50 40.51 40.14 53.94 78.73 108.47 143.76 229.48 194.03 290.22 415.63 224.02 223.65 196.99

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2023 Calculation
Operating profit per share = (Operating income (loss)Q4 2023 + Operating income (loss)Q3 2023 + Operating income (loss)Q2 2023 + Operating income (loss)Q1 2023) ÷ No. shares of common stock outstanding
= (918,000,000 + 3,013,000,000 + 2,789,000,000 + 2,578,000,000) ÷ 1,154,433,287 = 8.05

3 Closing price as at the filing date of General Motors Co. Quarterly or Annual Report.

4 Q4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 38.15 ÷ 8.05 = 4.74

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. General Motors Co. P/OP ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level.

Price to Sales (P/S)

General Motors Co., historical P/S calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 1,154,433,287 1,369,481,206 1,375,905,293 1,390,123,499 1,394,637,226 1,420,696,787 1,458,048,958 1,458,022,912 1,453,021,337 1,451,860,294 1,451,723,812 1,450,670,870 1,440,912,820 1,431,307,600 1,431,096,512 1,431,076,476 1,429,002,063 1,428,784,056 1,427,729,248 1,418,392,858
Selected Financial Data (US$)
Automotive net sales and revenue (in millions) 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 27,194 31,817 32,425 31,261
Sales per share2 136.57 115.54 113.70 106.32 103.23 94.67 81.76 80.48 78.18 80.81 86.77 74.86 75.42 71.11 70.94 84.26 85.86 0.00 0.00 0.00
Share price1, 3 38.15 28.56 37.92 32.91 39.32 37.01 33.34 38.66 53.50 54.26 52.72 57.58 54.88 37.14 25.89 21.89 35.03 37.91 40.15 38.95
Valuation Ratio
P/S ratio4 0.28 0.25 0.33 0.31 0.38 0.39 0.41 0.48 0.68 0.67 0.61 0.77 0.73 0.52 0.36 0.26 0.41
Benchmarks
P/S Ratio, Competitors5
Ford Motor Co. 0.31 0.24 0.33 0.30 0.35 0.37 0.41 0.47 0.57 0.54 0.46 0.38 0.39 0.26 0.22 0.15 0.23
Tesla Inc. 6.28 7.03 9.08 5.99 6.73 8.91 12.52 16.63 17.42 21.97 15.25 18.61 26.28 14.14 10.70 5.57 5.93

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2023 Calculation
Sales per share = (Automotive net sales and revenueQ4 2023 + Automotive net sales and revenueQ3 2023 + Automotive net sales and revenueQ2 2023 + Automotive net sales and revenueQ1 2023) ÷ No. shares of common stock outstanding
= (39,260,000,000 + 40,498,000,000 + 41,254,000,000 + 36,646,000,000) ÷ 1,154,433,287 = 136.57

3 Closing price as at the filing date of General Motors Co. Quarterly or Annual Report.

4 Q4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 38.15 ÷ 136.57 = 0.28

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. General Motors Co. P/S ratio decreased from Q2 2023 to Q3 2023 but then slightly increased from Q3 2023 to Q4 2023.

Price to Book Value (P/BV)

General Motors Co., historical P/BV calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
No. shares of common stock outstanding1 1,154,433,287 1,369,481,206 1,375,905,293 1,390,123,499 1,394,637,226 1,420,696,787 1,458,048,958 1,458,022,912 1,453,021,337 1,451,860,294 1,451,723,812 1,450,670,870 1,440,912,820 1,431,307,600 1,431,096,512 1,431,076,476 1,429,002,063 1,428,784,056 1,427,729,248 1,418,392,858
Selected Financial Data (US$)
Stockholders’ equity (in millions) 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 41,792 44,554 42,816 40,765
Book value per share (BVPS)2 55.69 54.38 52.08 50.27 48.61 45.94 43.86 42.59 41.12 37.30 35.59 33.32 31.25 30.28 27.46 28.03 29.25 31.18 29.99 28.74
Share price1, 3 38.15 28.56 37.92 32.91 39.32 37.01 33.34 38.66 53.50 54.26 52.72 57.58 54.88 37.14 25.89 21.89 35.03 37.91 40.15 38.95
Valuation Ratio
P/BV ratio4 0.69 0.53 0.73 0.65 0.81 0.81 0.76 0.91 1.30 1.45 1.48 1.73 1.76 1.23 0.94 0.78 1.20 1.22 1.34 1.36
Benchmarks
P/BV Ratio, Competitors5
Ford Motor Co. 1.19 0.90 1.22 1.11 1.22 1.24 1.27 1.31 1.48 1.84 1.66 1.33 1.49 0.95 0.85 0.71 0.99 0.96 1.04 1.14
Tesla Inc. 9.71 12.61 16.70 10.72 12.26 16.74 23.12 30.33 31.06 38.04 25.74 29.06 37.29 24.85 27.92 15.80 22.03 9.44 7.39 9.11

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2023 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 64,286,000,000 ÷ 1,154,433,287 = 55.69

3 Closing price as at the filing date of General Motors Co. Quarterly or Annual Report.

4 Q4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 38.15 ÷ 55.69 = 0.69

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. General Motors Co. P/BV ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 not reaching Q2 2023 level.