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)
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).
- Price to Earnings (P/E) Ratio
- The P/E ratio data begins from March 31, 2021. Initially, there is a noticeable decline from 12.66 to 6.09 by September 30, 2021, indicating reduced market expectations of earnings growth or increased earnings. Following this drop, the ratio slightly fluctuates but generally remains low, falling to a trough of 3.94 at September 30, 2023. Afterward, it rises gradually, reaching 7.13 by June 30, 2025. This pattern suggests a period of earnings recovery or revised market sentiment, with valuation metrics stabilizing at lower levels compared to early 2021.
- Price to Operating Profit (P/OP) Ratio
- Similarly, the P/OP ratio shows a downward trend from 11.92 at March 31, 2021, to 3.56 by September 30, 2023. After this low point, the ratio experiences some fluctuation but remains relatively stable in a range around 3.5 to 4.9, ending at 4.37 on June 30, 2025. The initial decline aligns with enhanced operating profitability or cautious investor sentiment, while the stabilization at lower multiples reflects normalized operating income valuations.
- Price to Sales (P/S) Ratio
- The P/S ratio begins at 0.73 on March 31, 2021, and follows a general downward path, decreasing to its lowest levels around 0.25 by September 30, 2023. Subsequently, a modest recovery is observed, with the ratio increasing to 0.35 by March 31, 2025, before slightly declining again. The overall modest valuation relative to sales points to cautious investor outlook or pressure on sales growth pricing, with minor recovery indicating improving sales perception.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio shows volatility over the presented period. Starting from 0.78 at March 31, 2020, it climbs steadily to a peak of 1.76 by December 31, 2020, followed by a general downtrend to 0.53 by September 30, 2023. After this trough, the ratio rebounds somewhat, reaching 0.83 by March 31, 2025, before stabilizing close to 0.7 by mid-2025. This suggests fluctuations in market valuation relative to net asset value, with the decline possibly linked to broader market or company-specific headwinds, and the subsequent partial recovery indicating renewed market confidence or improved asset quality.
Price to Earnings (P/E)
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 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 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 | 1,440,912,820 | 1,431,307,600 | 1,431,096,512 | 1,431,076,476 | |||||||
Selected Financial Data (US$) | |||||||||||||||||||||||||||||
Net income (loss) attributable to common stockholders (in millions) | 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) | 2,801) | 4,005) | (806) | 247) | |||||||
Earnings per share (EPS)2 | 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 | 4.34 | 0.00 | 0.00 | 0.00 | |||||||
Share price1, 3 | 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 | 54.88 | 37.14 | 25.89 | 21.89 | |||||||
Valuation Ratio | |||||||||||||||||||||||||||||
P/E ratio4 | 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 | 12.66 | — | — | — | |||||||
Benchmarks | |||||||||||||||||||||||||||||
P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||
Ford Motor Co. | — | 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. | — | 126.77 | 181.57 | 65.83 | 55.70 | 37.98 | 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 | — | — | — |
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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net income (loss) attributable to common stockholdersQ2 2025
+ Net income (loss) attributable to common stockholdersQ1 2025
+ Net income (loss) attributable to common stockholdersQ4 2024
+ Net income (loss) attributable to common stockholdersQ3 2024)
÷ No. shares of common stock outstanding
= (1,865,000,000 + 3,361,000,000 + -1,729,000,000 + 3,029,000,000)
÷ 952,077,801 = 6.85
3 Closing price as at the filing date of General Motors Co. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= 48.89 ÷ 6.85 = 7.13
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited significant volatility over the observed periods. Initially, it increased steadily from $21.89 in March 2020 to a peak of $57.58 in March 2021. Following this peak, the price experienced a decline and fluctuation, dropping to a low of $28.56 in September 2023. After this trough, the share price gradually recovered and reached $53.73 by September 2024 before showing a moderate decline towards mid-2025, ending around $48.89. This pattern reflects a strong recovery after an initial rise, followed by a period of instability and subsequent stabilization.
- Earnings Per Share (EPS)
- Earnings per share demonstrate a general upward trend with some variability. Starting from $4.34 in March 2021, EPS rose to a peak of $10.00 by December 2024, indicating improving profitability over this period. However, there were fluctuations, including a decrease to $5.3 in September 2022 before recovering again. The EPS values suggest consistent growth in earnings with some intermittent periods of decline or stagnation, reflecting operational or market challenges at certain points.
- Price-to-Earnings Ratio (P/E)
- The P/E ratio declined noticeably from 12.66 in March 2021 to a low of 3.94 in September 2023, signifying that the stock became cheaper relative to its earnings over this timeframe. After this low, the ratio increased moderately, fluctuating between 4.39 and 7.13 through mid-2025. The overall decreasing trend in P/E ratio initially suggests enhanced earnings relative to price or a reduction in investor expectations, while the subsequent modest rise indicates some moderation in valuation multiples.
- Summary
- The data indicates a period of strong earnings growth accompanied by fluctuating share prices and decreasing valuation multiples initially, followed by a phase of price recovery and moderate P/E ratio stabilization. This pattern suggests improvements in fundamental performance coupled with varying market sentiment affecting the share price valuation over the observed quarters.
Price to Operating Profit (P/OP)
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 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 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 | 1,440,912,820 | 1,431,307,600 | 1,431,096,512 | 1,431,076,476 | |||||||
Selected Financial Data (US$) | |||||||||||||||||||||||||||||
Operating income (loss) (in millions) | 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) | |||||||
Operating profit per share2 | 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 | 4.60 | 0.00 | 0.00 | 0.00 | |||||||
Share price1, 3 | 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 | 54.88 | 37.14 | 25.89 | 21.89 | |||||||
Valuation Ratio | |||||||||||||||||||||||||||||
P/OP ratio4 | 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 | 11.92 | — | — | — | |||||||
Benchmarks | |||||||||||||||||||||||||||||
P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||
Ford Motor Co. | — | 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. | — | 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 | 415.63 | — | — | — |
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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024
+ Operating income (loss)Q3 2024)
÷ No. shares of common stock outstanding
= (2,127,000,000 + 3,352,000,000 + 1,522,000,000 + 3,651,000,000)
÷ 952,077,801 = 11.19
3 Closing price as at the filing date of General Motors Co. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 48.89 ÷ 11.19 = 4.37
5 Click competitor name to see calculations.
- Share Price Trend
- The share price demonstrated a significant increase from March 2020 to December 2020, rising from $21.89 to $54.88. This was followed by a period of fluctuation throughout 2021 and 2022, where the price experienced declines and recoveries, reaching a low of $28.56 in September 2023. Subsequently, there was a renewed upward trend from late 2023 through early 2025, peaking at approximately $53.73 in September 2024 before slightly declining to $48.89 by June 2025.
- Operating Profit Per Share (OPPS)
- Operating profit per share was not reported before March 2021, from which it showed a steady upward trajectory. Beginning at $4.6 in the first quarter of 2021, OPPS increased consistently over the quarters, reaching a peak of $12.9 in the second quarter of 2025. Minor fluctuations were observed, such as a small dip in the fourth quarter of 2021 and again in late 2024, but the overall trend indicates improving operational profitability.
- Price-to-Operating Profit (P/OP) Ratio
- The P/OP ratio commenced at 11.92 in the first quarter of 2021, reflecting a relatively high valuation compared to operating profits. This ratio generally declined over time, indicating that the share price grew at a slower pace than operating profit or that operating profit increased faster than the share price. By mid-2025, the P/OP ratio fell to a range around 3.5 to 4.4, suggesting that the company became more attractively valued on an operating profit basis. Short-term increases in this ratio were noted, such as in the fourth quarter of 2023 and early 2024, indicating temporary share price strength relative to operating profit.
- Summary of Financial Performance and Valuation
- The data indicates that the company experienced strong growth in operating profitability starting from early 2021, which was accompanied by fluctuations in share price that initially outpaced profit growth but ultimately aligned more closely with operating performance. The declining P/OP ratio over time reflects increasing market confidence in the sustainability of operating profits or a correction toward a more reasonable valuation. The recent stability and moderate increase in share price coupled with robust operating profit gains suggest a positive outlook for earnings quality and market valuation.
Price to Sales (P/S)
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 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 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 | 1,440,912,820 | 1,431,307,600 | 1,431,096,512 | 1,431,076,476 | |||||||
Selected Financial Data (US$) | |||||||||||||||||||||||||||||
Automotive net sales and revenue (in millions) | 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) | |||||||
Sales per share2 | 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 | 75.42 | 0.00 | 0.00 | 0.00 | |||||||
Share price1, 3 | 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 | 54.88 | 37.14 | 25.89 | 21.89 | |||||||
Valuation Ratio | |||||||||||||||||||||||||||||
P/S ratio4 | 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 | 0.73 | — | — | — | |||||||
Benchmarks | |||||||||||||||||||||||||||||
P/S Ratio, Competitors5 | |||||||||||||||||||||||||||||
Ford Motor Co. | — | 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 | 0.39 | — | — | — | |||||||
Tesla Inc. | — | 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 | 26.28 | — | — | — |
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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (Automotive net sales and revenueQ2 2025
+ Automotive net sales and revenueQ1 2025
+ Automotive net sales and revenueQ4 2024
+ Automotive net sales and revenueQ3 2024)
÷ No. shares of common stock outstanding
= (42,869,000,000 + 39,861,000,000 + 43,599,000,000 + 44,735,000,000)
÷ 952,077,801 = 179.67
3 Closing price as at the filing date of General Motors Co. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 48.89 ÷ 179.67 = 0.27
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited a generally upward trend from March 2020 through December 2021, beginning at $21.89 and peaking at $54.88 by the end of 2020. However, a notable decline followed throughout 2022, bottoming near $28.56 in September 2023. From that point onwards, the share price recovered steadily to reach $48.89 by June 2025, indicating renewed investor confidence or improved market conditions.
- Sales per Share Trend
- Sales per share data start from March 2021 and show a consistent and strong upward trajectory. Beginning at $75.42, sales per share increased almost without interruption to $179.67 by June 2025. This suggests robust revenue growth on a per-share basis, possibly reflecting operational expansion, improved market penetration, or enhanced product offerings over this period.
- Price-to-Sales (P/S) Ratio Trend
- The price-to-sales ratio decreased significantly from March 2021, starting at 0.73 and generally falling to levels around 0.25-0.27 by mid-2025. This decline occurred despite increasing sales per share, implying that the market valuation relative to sales was becoming more conservative. The ratio reached its lowest points during late 2023 and early 2024, coinciding with a period when the share price was relatively low compared to historical highs.
- Combined Insights
- The contrasting trends of rising sales per share and declining P/S ratio, particularly during the 2022 to 2024 period, indicate that although the company’s sales performance was improving markedly, the market was valuing the company more cautiously. The recovery in share price after late 2023 suggests a potential correction or adjustment in the market’s perception, possibly reflecting better-than-expected financial performance or positive future outlooks. Overall, the data imply strong operational growth paired with fluctuating market sentiment across the observed periods.
Price to Book Value (P/BV)
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 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 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 | 1,440,912,820 | 1,431,307,600 | 1,431,096,512 | 1,431,076,476 | |||||||
Selected Financial Data (US$) | |||||||||||||||||||||||||||||
Stockholders’ equity (in millions) | 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) | |||||||
Book value per share (BVPS)2 | 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 | 31.25 | 30.28 | 27.46 | 28.03 | |||||||
Share price1, 3 | 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 | 54.88 | 37.14 | 25.89 | 21.89 | |||||||
Valuation Ratio | |||||||||||||||||||||||||||||
P/BV ratio4 | 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 | 1.76 | 1.23 | 0.94 | 0.78 | |||||||
Benchmarks | |||||||||||||||||||||||||||||
P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||
Ford Motor Co. | — | 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 | 1.49 | 0.95 | 0.85 | 0.71 | |||||||
Tesla Inc. | — | 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 | 37.29 | 24.85 | 27.92 | 15.80 |
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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 66,363,000,000 ÷ 952,077,801 = 69.70
3 Closing price as at the filing date of General Motors Co. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 48.89 ÷ 69.70 = 0.70
5 Click competitor name to see calculations.
- Share Price Trend
- The share price demonstrated an overall upward trajectory beginning from $21.89 in March 2020 and reaching a peak of $57.58 in March 2021. This was followed by a noticeable decline through 2022, dipping to a low around the $28.56-$32.91 range in late 2022 and early 2023. Subsequently, the share price exhibited moderate volatility with a recovery trend, increasing again to $53.73 by September 2024 before declining slightly to $45.05 in March 2025.
- Book Value Per Share (BVPS) Progression
- BVPS showed a consistent upward trend throughout the entire period. Starting at $28.03 in March 2020, it gradually increased each quarter without reversal, reaching $69.70 by June 2025. This steady growth indicates a continuous increase in the company’s net asset value on a per-share basis, reflecting strengthening equity over time.
- Price-to-Book Value (P/BV) Ratio Dynamics
- The P/BV ratio reflected changes in both market valuation and book value. Initially, the ratio was below 1.0 (0.78 in March 2020), indicating the share price was lower than the book value per share. It then surged sharply to a high of 1.76 by December 2020 and remained elevated around 1.3-1.7 through early 2021, signaling market valuation above the book value. However, from early 2022 onwards, the P/BV ratio fell back below 1.0 and mostly stayed in the 0.5 to 0.8 range, which suggests that the market valued the shares at a discount to book value during this later period.
- Overall Insights
- The data reveals a pattern where the market experienced strong optimism toward the end of 2020 and in early 2021, reflected by share price peaks and elevated P/BV ratios. This optimism was lost in 2022, with share prices declining despite the continued rise in book value per share, leading to undervaluation indicated by lower P/BV ratios. The gradual recovery in share price from mid-2023 demonstrates improving market sentiment, though valuations remain moderate relative to book value. The steady increase in BVPS throughout all periods indicates solid growth in underlying equity, regardless of share price fluctuations.