Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
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)
Based on: 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), 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).
- Price to Earnings (P/E) Ratio
- The P/E ratio exhibited notable fluctuations over the observed periods. Initially, it decreased from 9.31 to 6.09 between March and June 2021, followed by a moderate increase and relative stability around 6 to 7 until early 2023. Starting from March 2023, there was a downward trend reaching a low of 3.94 in September 2023, indicating potentially higher earnings or declining stock price. However, from late 2023 onward, the ratio climbed steadily, reaching a peak of 12.96 by September 2025, which may suggest increased market expectations for future growth or a rising stock price relative to earnings.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio followed a similar trajectory to the P/E ratio, showing an initial decline from 9.03 in March 2021 to a low of approximately 5.32 in December 2021. The ratio then stabilized between 3.56 and 5.0 through most of 2022 and into early 2024. A marked decrease to 3.49 was observed in June 2025, followed by an escalation to 7.69 by September 2025. This pattern implies operational profitability was initially becoming more favorable, though valuation multiples rebounded towards the end of the period.
- Price to Sales (P/S) Ratio
- The P/S ratio consistently declined from 0.77 in early 2021 to 0.25 in September 2023, reflecting either a declining stock price relative to sales or growth in sales outpacing stock valuation. Post-September 2023, the ratio showed a modest recovery, increasing to 0.36 by September 2025. The overall low and fluctuating ratios suggest conservative market valuation in relation to revenue generation.
- Price to Book Value (P/BV) Ratio
- P/BV ratio displayed a steady decline from 1.73 in March 2021 to a trough of 0.53 in September 2023, signifying the stock price decreased relative to the company's net asset value or an increase in book value itself. Thereafter, there was a gradual recovery reaching 0.94 by September 2025. Despite the recovery, the ratio remained below 1 for most of the period, which may indicate market perception of undervaluation or concerns about asset profitability.
- Overall Observations
- Across all ratios, a common trend is a decline from early 2021 through 2023, followed by a recovery phase starting late 2023 through 2025. This pattern points to a period of market caution or subdued investor confidence in the medium term, with improving outlook or valuation multiples in more recent quarters. Notably, the sharper rebound in P/E and P/OP ratios compared to P/S and P/BV suggests improving profitability expectations or investor willingness to pay a premium for earnings and operating performance relative to sales and book value.
Price to Earnings (P/E)
General Motors Co., historical P/E calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 932,861,303 | 952,077,801 | 961,434,742 | 995,001,891 | 1,099,595,840 | 1,123,922,119 | 1,140,958,039 | 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 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Net income (loss) attributable to common stockholders (in millions) | 1,297) | 1,865) | 3,361) | (1,729) | 3,029) | 2,919) | 2,970) | 2,075) | 3,038) | 2,540) | 2,369) | 1,984) | 3,278) | 1,666) | 1,987) | 1,696) | 2,375) | 2,790) | 2,976) | ||||||
| Earnings per share (EPS)2 | 5.14 | 6.85 | 7.88 | 7.23 | 10.00 | 9.79 | 9.31 | 8.68 | 7.25 | 7.39 | 6.69 | 6.39 | 6.07 | 5.30 | 6.07 | 6.77 | 7.54 | 8.66 | 6.19 | ||||||
| Share price1, 3 | 66.62 | 48.89 | 45.05 | 50.04 | 53.73 | 46.38 | 45.10 | 38.15 | 28.56 | 37.92 | 32.91 | 39.32 | 37.01 | 33.34 | 38.66 | 53.50 | 54.26 | 52.72 | 57.58 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/E ratio4 | 12.96 | 7.13 | 5.71 | 6.93 | 5.37 | 4.74 | 4.84 | 4.39 | 3.94 | 5.13 | 4.92 | 6.15 | 6.09 | 6.29 | 6.37 | 7.90 | 7.20 | 6.09 | 9.31 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||
| Ford Motor Co. | 11.72 | 13.98 | 8.27 | 6.24 | 11.72 | 11.57 | 13.27 | 11.70 | 6.47 | 12.83 | 16.34 | — | 5.80 | 4.82 | 5.08 | 4.01 | 23.50 | 16.81 | 11.30 | ||||||
| Tesla Inc. | 293.83 | 167.41 | 132.18 | 181.57 | 64.86 | 54.89 | 37.27 | 40.55 | 62.68 | 70.03 | 43.84 | 43.65 | 59.61 | 88.39 | 123.10 | 169.91 | 296.78 | 292.69 | 585.25 | ||||||
Based on: 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
EPS
= (Net income (loss) attributable to common stockholdersQ3 2025
+ Net income (loss) attributable to common stockholdersQ2 2025
+ Net income (loss) attributable to common stockholdersQ1 2025
+ Net income (loss) attributable to common stockholdersQ4 2024)
÷ No. shares of common stock outstanding
= (1,297,000,000 + 1,865,000,000 + 3,361,000,000 + -1,729,000,000)
÷ 932,861,303 = 5.14
3 Closing price as at the filing date of General Motors Co. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/E ratio = Share price ÷ EPS
= 66.62 ÷ 5.14 = 12.96
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited notable fluctuations over the analyzed periods. Initially, it started at a relatively high level around $57.58 and declined considerably through 2022, reaching a low near $28.56 in the third quarter of 2023. Subsequently, it demonstrated a recovery trend, rising steadily to approximately $66.62 by the third quarter of 2025. This suggests a volatile market perception with a recent positive shift in investor confidence.
- Earnings Per Share (EPS)
- The EPS showed moderate variability but generally maintained a positive and upward trajectory until early 2024. Starting at $6.19 in the first quarter of 2021, EPS peaked around $10 in the third quarter of 2024. However, after this peak, EPS declined in the final observed quarters, dropping to $5.14 by the third quarter of 2025. This pattern indicates strong profitability improvements followed by a decrease in earnings performance towards the end of the period.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio experienced significant movement inversely correlated in part with the share price and EPS trends. In the early periods, the ratio hovered around 6 to 9, indicating moderate valuation levels. A notable decline occurred with the ratio falling to as low as 3.94 in the third quarter of 2023, coinciding with the share price trough and improved EPS. However, from late 2024 onward, the ratio increased substantially, peaking at 12.96 by the third quarter of 2025. This signals heightened market valuation relative to earnings during that period, potentially reflecting increased investor optimism despite falling EPS.
- Overall Insights
- The combined patterns suggest that while the company experienced fluctuating earnings and share prices, market valuation as reflected by the P/E ratio became more optimistic in later periods despite a decline in EPS. The recovery in share price was strong and may have been driven by factors beyond immediate earnings growth, such as future growth expectations or macroeconomic influences. The declining EPS towards the end highlights potential challenges in profitability or operational performance that may warrant further investigation.
Price to Operating Profit (P/OP)
General Motors Co., historical P/OP calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 932,861,303 | 952,077,801 | 961,434,742 | 995,001,891 | 1,099,595,840 | 1,123,922,119 | 1,140,958,039 | 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 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Operating income (loss) (in millions) | 1,076) | 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) | ||||||
| Operating profit per share2 | 8.66 | 11.19 | 12.90 | 12.85 | 11.08 | 10.27 | 9.17 | 8.05 | 8.03 | 8.26 | 7.69 | 7.40 | 6.49 | 5.13 | 5.65 | 6.42 | 7.28 | 9.20 | 6.38 | ||||||
| Share price1, 3 | 66.62 | 48.89 | 45.05 | 50.04 | 53.73 | 46.38 | 45.10 | 38.15 | 28.56 | 37.92 | 32.91 | 39.32 | 37.01 | 33.34 | 38.66 | 53.50 | 54.26 | 52.72 | 57.58 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/OP ratio4 | 7.69 | 4.37 | 3.49 | 3.89 | 4.85 | 4.52 | 4.92 | 4.74 | 3.56 | 4.59 | 4.28 | 5.32 | 5.70 | 6.50 | 6.84 | 8.34 | 7.45 | 5.73 | 9.03 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||
| Ford Motor Co. | 15.24 | 14.98 | 9.63 | 7.03 | 11.05 | 11.11 | 11.39 | 9.32 | 5.49 | 7.99 | 6.69 | 8.40 | 9.58 | 8.95 | 17.27 | 15.90 | 50.21 | 24.45 | — | ||||||
| Tesla Inc. | 329.70 | 175.16 | 128.11 | 181.95 | 110.65 | 104.48 | 69.89 | 68.39 | 62.84 | 67.50 | 40.51 | 40.14 | 53.94 | 78.73 | 108.47 | 143.76 | 229.48 | 194.03 | 290.22 | ||||||
Based on: 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Operating profit per share
= (Operating income (loss)Q3 2025
+ Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024)
÷ No. shares of common stock outstanding
= (1,076,000,000 + 2,127,000,000 + 3,352,000,000 + 1,522,000,000)
÷ 932,861,303 = 8.66
3 Closing price as at the filing date of General Motors Co. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 66.62 ÷ 8.66 = 7.69
5 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited significant fluctuations over the observed periods. Initially, there was a declining trend from the first quarter of 2021 through mid-2022, decreasing from $57.58 to $33.34. Following this period, the share price experienced volatility, with intermittent rises and falls, reaching a low of $28.56 in the third quarter of 2023. From late 2023 onwards, the share price generally increased, culminating in a notable peak of $66.62 by the third quarter of 2025.
- Operating Profit Per Share (OPPS)
- Operating profit per share showed a relatively steady improvement over time. Beginning at $6.38 in the first quarter of 2021, the metric increased with minor fluctuations, peaking at $12.90 in the third quarter of 2025. Distinct periods of acceleration in OPPS were observed particularly from the first quarter of 2023 through early 2025, indicating enhanced operational profitability in these intervals.
- Price to Operating Profit Ratio (P/OP)
- The price-to-operating profit ratio demonstrated an overall declining trend in the earlier periods, moving from 9.03 in the first quarter of 2021 down to a trough of 3.49 in the second quarter of 2025. This decrease suggests that the share price, relative to operating profit per share, was becoming more favorable or cheaper for investors during that time. However, there was a subsequent increase in the ratio to 7.69 by the third quarter of 2025, indicating a reversal in this trend and potentially signaling a higher valuation relative to operating earnings.
- Interrelation Between Metrics
- The early decrease in share price amidst improving operating profit per share resulted in a reduced P/OP ratio. This suggests that the market price of the shares became more aligned with the underlying operational earnings, potentially making the stock more attractive. The sharp increase in share price in the final period, however, outpaced the growth in operating profit per share, resulting in a higher P/OP ratio and possibly indicating elevated market expectations or a premium valuation at that time.
- Summary of Financial Performance
- The data reflects a period of initial market uncertainty or reduced investor confidence, followed by progressive operational improvements and increasing profitability. The share price's volatility points to external factors or market sentiment influencing valuation beyond operational performance. The recent upward shift in the price-to-operating profit ratio warrants attention, as it may imply changing investor expectations or a transitional phase in valuation metrics.
Price to Sales (P/S)
General Motors Co., historical P/S calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 932,861,303 | 952,077,801 | 961,434,742 | 995,001,891 | 1,099,595,840 | 1,123,922,119 | 1,140,958,039 | 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 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Automotive net sales and revenue (in millions) | 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) | 30,353) | 23,426) | 30,744) | 29,067) | ||||||
| Sales per share2 | 182.86 | 179.67 | 179.16 | 172.47 | 152.12 | 145.05 | 140.43 | 136.57 | 115.54 | 113.70 | 106.32 | 103.23 | 94.67 | 81.76 | 80.48 | 78.18 | 80.81 | 86.77 | 74.86 | ||||||
| Share price1, 3 | 66.62 | 48.89 | 45.05 | 50.04 | 53.73 | 46.38 | 45.10 | 38.15 | 28.56 | 37.92 | 32.91 | 39.32 | 37.01 | 33.34 | 38.66 | 53.50 | 54.26 | 52.72 | 57.58 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/S ratio4 | 0.36 | 0.27 | 0.25 | 0.29 | 0.35 | 0.32 | 0.32 | 0.28 | 0.25 | 0.33 | 0.31 | 0.38 | 0.39 | 0.41 | 0.48 | 0.68 | 0.67 | 0.61 | 0.77 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||
| Ford Motor Co. | 0.31 | 0.26 | 0.24 | 0.21 | 0.24 | 0.26 | 0.31 | 0.31 | 0.24 | 0.33 | 0.30 | 0.35 | 0.37 | 0.41 | 0.47 | 0.57 | 0.54 | 0.46 | 0.38 | ||||||
| Tesla Inc. | 15.61 | 10.62 | 8.44 | 13.18 | 8.61 | 7.24 | 5.46 | 6.28 | 7.03 | 9.08 | 5.99 | 6.73 | 8.91 | 12.52 | 16.63 | 17.42 | 21.97 | 15.25 | 18.61 | ||||||
Based on: 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
Sales per share
= (Automotive net sales and revenueQ3 2025
+ Automotive net sales and revenueQ2 2025
+ Automotive net sales and revenueQ1 2025
+ Automotive net sales and revenueQ4 2024)
÷ No. shares of common stock outstanding
= (44,256,000,000 + 42,869,000,000 + 39,861,000,000 + 43,599,000,000)
÷ 932,861,303 = 182.86
3 Closing price as at the filing date of General Motors Co. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 66.62 ÷ 182.86 = 0.36
5 Click competitor name to see calculations.
The financial data displays several notable trends over the analyzed quarters. The share price exhibits considerable volatility but follows an overall cyclical pattern with periods of decline followed by recovery and growth. Beginning with values around the mid-50s (US$), there is a marked decline through 2022 and early 2023, reaching lows near the high 20s. From mid-2023 onward, the share price recovers strongly, culminating in a peak close to US$ 66.62 by the last period, indicating positive market sentiment or underlying performance improvements.
Sales per share demonstrate a consistent upward trajectory throughout the periods. Starting from approximately US$ 74.86, sales per share steadily increase, showing resilience and growth despite fluctuations in share price. The data illustrates a robust rise, particularly from 2022 onward, increasing from about US$ 80.48 to a high near US$ 182.86 by the end of the last quarter, suggesting enhanced operational performance or revenue expansion on a per-share basis.
The price-to-sales (P/S) ratio reveals a declining trend initially, corresponding with the decrease in share price and the rise in sales per share. The ratio declines from 0.77 early in the timeline to levels below 0.3 during the low points in share price observed in 2023 and early 2024. This decreasing trend suggests that the market price of shares was not keeping pace with the growth in sales per share during this period. In the latter quarters, however, there is a moderate rebound in the P/S ratio, rising toward 0.36, aligning with the recovery in share price. This suggests the market is beginning to value the company's sales growth more favorably again.
In summary, the company's financial indicators depict a scenario where sales per share show strong and steady growth, while share price and market valuation (as reflected by the P/S ratio) initially lag behind but recover significantly in the latest periods. The decoupling followed by re-coupling of share price and sales per share trends could indicate initial market skepticism or external challenges eventually giving way to renewed investor confidence.
- Share Price
- Volatile with a dip through 2022 and early 2023, followed by a strong recovery and growth to a new high by the end of the period.
- Sales per Share
- Consistent and sustained increase across all periods, indicating improving business performance on a per-share basis.
- Price-to-Sales Ratio (P/S)
- Declines initially due to share price lagging sales growth, but rebounds moderately as share price recovers, reflecting changing market valuation dynamics.
Price to Book Value (P/BV)
General Motors Co., historical P/BV calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 932,861,303 | 952,077,801 | 961,434,742 | 995,001,891 | 1,099,595,840 | 1,123,922,119 | 1,140,958,039 | 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 | ||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||
| Stockholders’ equity (in millions) | 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) | 59,744) | 54,150) | 51,669) | 48,343) | ||||||
| Book value per share (BVPS)2 | 71.15 | 69.70 | 66.95 | 63.39 | 64.51 | 61.07 | 58.37 | 55.69 | 54.38 | 52.08 | 50.27 | 48.61 | 45.94 | 43.86 | 42.59 | 41.12 | 37.30 | 35.59 | 33.32 | ||||||
| Share price1, 3 | 66.62 | 48.89 | 45.05 | 50.04 | 53.73 | 46.38 | 45.10 | 38.15 | 28.56 | 37.92 | 32.91 | 39.32 | 37.01 | 33.34 | 38.66 | 53.50 | 54.26 | 52.72 | 57.58 | ||||||
| Valuation Ratio | |||||||||||||||||||||||||
| P/BV ratio4 | 0.94 | 0.70 | 0.67 | 0.79 | 0.83 | 0.76 | 0.77 | 0.69 | 0.53 | 0.73 | 0.65 | 0.81 | 0.81 | 0.76 | 0.91 | 1.30 | 1.45 | 1.48 | 1.73 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||
| Ford Motor Co. | 1.16 | 0.98 | 0.93 | 0.82 | 0.93 | 1.02 | 1.21 | 1.19 | 0.90 | 1.22 | 1.11 | 1.22 | 1.24 | 1.27 | 1.31 | 1.48 | 1.84 | 1.66 | 1.33 | ||||||
| Tesla Inc. | 18.67 | 12.74 | 10.82 | 17.66 | 11.96 | 10.38 | 8.03 | 9.71 | 12.61 | 16.70 | 10.72 | 12.26 | 16.74 | 23.12 | 30.33 | 31.06 | 38.04 | 25.74 | 29.06 | ||||||
Based on: 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), 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).
1 Data adjusted for splits and stock dividends.
2 Q3 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 66,374,000,000 ÷ 932,861,303 = 71.15
3 Closing price as at the filing date of General Motors Co. Quarterly or Annual Report.
4 Q3 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 66.62 ÷ 71.15 = 0.94
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited notable volatility throughout the periods analyzed. Initially, the price decreased from $57.58 at the end of March 2021 to a low point of $28.56 in September 2023. Following this trough, a recovery trend emerged, with the share price rising steadily to $66.62 by the end of September 2025. Overall, the movement reflects phases of decline and subsequent robust recovery.
- Book Value per Share (BVPS) Trend
- The book value per share showed a consistent upward trajectory during the entire period. Starting at $33.32 in March 2021, it increased steadily quarter-over-quarter, reaching $71.15 by September 2025. This indicates an accumulation of shareholder equity and strengthening of the company's net asset base over time.
- Price-to-Book Value Ratio (P/BV)
- The P/BV ratio demonstrated a declining trend in the initial years, dropping from 1.73 in March 2021 to 0.53 in September 2023, indicating that the market price fell below the book value per share during this period. After this low point, the ratio gradually increased, reaching 0.94 by September 2025, showing a market reassessment closer to the intrinsic value. However, throughout the period, the ratio mostly remained below 1, suggesting that the market consistently valued the company at less than its book value, especially during mid to later quarters.
- Overall Insights
- The company experienced a significant period where the market undervalued its shares relative to the book value, particularly between 2022 and 2023. Despite this, the underlying book value per share demonstrated reliable and continuous growth, reflecting strong fundamentals. The price recovery in recent quarters may indicate improved market sentiment or operational performance. The persistent increase in BVPS supports a positive long-term outlook, while the P/BV ratio’s movement suggests fluctuating investor confidence aligning with broader market or company-specific developments.