General Motors (GM)
Market Price (12/25/2025): $82.8 | Market Cap: $78.2 BilSector: Consumer Discretionary | Industry: Automobile Manufacturers
General Motors (GM)
Market Price (12/25/2025): $82.8Market Cap: $78.2 BilSector: Consumer DiscretionaryIndustry: Automobile Manufacturers
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, CFO LTM is 24 Bil | Trading close to highsDist 52W High is -0.2%, Dist 3Y High is -0.2% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 131% |
| Low stock price volatilityVol 12M is 37% | Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.3% | |
| Megatrend and thematic driversMegatrends include Electric Vehicles & Autonomous Driving, Future of Freight, and Battery Technology & Metals. Themes include EV Manufacturing, Show more. | Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 65% | |
| Key risksGM key risks include [1] execution challenges in its ambitious and capital-intensive electric and autonomous vehicle transition and [2] a significant financial impact from specific international tariffs and shifting emissions regulations. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, CFO LTM is 24 Bil |
| Low stock price volatilityVol 12M is 37% |
| Megatrend and thematic driversMegatrends include Electric Vehicles & Autonomous Driving, Future of Freight, and Battery Technology & Metals. Themes include EV Manufacturing, Show more. |
| Trading close to highsDist 52W High is -0.2%, Dist 3Y High is -0.2% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 131% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.3% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 65% |
| Key risksGM key risks include [1] execution challenges in its ambitious and capital-intensive electric and autonomous vehicle transition and [2] a significant financial impact from specific international tariffs and shifting emissions regulations. |
Why The Stock Moved
Qualitative Assessment
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General Motors (GM) stock experienced significant upward movement between August 31, 2025, and December 25, 2025, with several factors contributing to this trend.1. Strong Performance in Core Markets and Brands: GM maintained its position as the top-selling automaker in the United States, with robust demand for its key brands—Chevrolet, Buick, GMC, and Cadillac, particularly for pickups and SUVs. This strong domestic demand continued to fuel sales growth.
2. Improved Performance in China: China, which had previously been a challenge, showed signs of recovery for GM. The company's restructuring efforts in China began to pay off, with third-quarter 2025 vehicle sales rising 10% year over year, marking the second consecutive quarter of growth.
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Stock Movement Drivers
Fundamental Drivers
The 38.6% change in GM stock from 9/24/2025 to 12/24/2025 was primarily driven by a 113.0% change in the company's P/E Multiple.| 9242025 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 59.80 | 82.88 | 38.59% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 187600.00 | 187435.00 | -0.09% |
| Net Income Margin (%) | 2.54% | 1.62% | -36.16% |
| P/E Multiple | 12.06 | 25.69 | 113.00% |
| Shares Outstanding (Mil) | 963.00 | 944.00 | 1.97% |
| Cumulative Contribution | 38.54% |
Market Drivers
9/24/2025 to 12/24/2025| Return | Correlation | |
|---|---|---|
| GM | 38.6% | |
| Market (SPY) | 4.4% | 23.3% |
| Sector (XLY) | 2.3% | 35.3% |
Fundamental Drivers
The 73.0% change in GM stock from 6/25/2025 to 12/24/2025 was primarily driven by a 215.5% change in the company's P/E Multiple.| 6252025 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 47.91 | 82.88 | 72.99% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 188446.00 | 187435.00 | -0.54% |
| Net Income Margin (%) | 3.08% | 1.62% | -47.33% |
| P/E Multiple | 8.14 | 25.69 | 215.48% |
| Shares Outstanding (Mil) | 988.00 | 944.00 | 4.45% |
| Cumulative Contribution | 72.65% |
Market Drivers
6/25/2025 to 12/24/2025| Return | Correlation | |
|---|---|---|
| GM | 73.0% | |
| Market (SPY) | 14.0% | 25.7% |
| Sector (XLY) | 15.3% | 33.2% |
Fundamental Drivers
The 56.5% change in GM stock from 12/24/2024 to 12/24/2025 was primarily driven by a 381.2% change in the company's P/E Multiple.| 12242024 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 52.96 | 82.88 | 56.49% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 182717.00 | 187435.00 | 2.58% |
| Net Income Margin (%) | 6.06% | 1.62% | -73.19% |
| P/E Multiple | 5.34 | 25.69 | 381.24% |
| Shares Outstanding (Mil) | 1116.00 | 944.00 | 15.41% |
| Cumulative Contribution | 52.77% |
Market Drivers
12/24/2024 to 12/24/2025| Return | Correlation | |
|---|---|---|
| GM | 56.5% | |
| Market (SPY) | 15.8% | 44.9% |
| Sector (XLY) | 5.3% | 50.4% |
Fundamental Drivers
The 152.8% change in GM stock from 12/25/2022 to 12/24/2025 was primarily driven by a 423.7% change in the company's P/E Multiple.| 12252022 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 32.79 | 82.88 | 152.78% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 147210.00 | 187435.00 | 27.32% |
| Net Income Margin (%) | 6.57% | 1.62% | -75.29% |
| P/E Multiple | 4.91 | 25.69 | 423.72% |
| Shares Outstanding (Mil) | 1448.00 | 944.00 | 34.81% |
| Cumulative Contribution | 122.16% |
Market Drivers
12/25/2023 to 12/24/2025| Return | Correlation | |
|---|---|---|
| GM | 134.9% | |
| Market (SPY) | 48.9% | 41.3% |
| Sector (XLY) | 38.7% | 44.4% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GM Return | 15% | 41% | -42% | 8% | 50% | 57% | 137% |
| Peers Return | � | � | -64% | 31% | -3% | 19% | � |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 115% |
Monthly Win Rates [3] | |||||||
| GM Win Rate | 42% | 67% | 42% | 33% | 67% | 58% | |
| Peers Win Rate | � | 52% | 32% | 53% | 48% | 58% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| GM Max Drawdown | -54% | -3% | -47% | -20% | -4% | -20% | |
| Peers Max Drawdown | � | � | -66% | -22% | -37% | -31% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: F, TSLA, RIVN, ALLY, LCID. See GM Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)
How Low Can It Go
| Event | GM | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -59.5% | -25.4% |
| % Gain to Breakeven | 146.7% | 34.1% |
| Time to Breakeven | 712 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -55.1% | -33.9% |
| % Gain to Breakeven | 122.5% | 51.3% |
| Time to Breakeven | 218 days | 148 days |
| 2018 Correction | ||
| % Loss | -34.3% | -19.8% |
| % Gain to Breakeven | 52.1% | 24.7% |
| Time to Breakeven | 811 days | 120 days |
Compare to TSLA, PHIN, GM, F, RIVN
In The Past
General Motors's stock fell -59.5% during the 2022 Inflation Shock from a high on 1/4/2022. A -59.5% loss requires a 146.7% gain to breakeven.
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General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, and Wuling brand names. The company also sells trucks, crossovers, cars, and purpose-built vehicles to dealers for consumer retail sales, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. In addition, it offers safety and security services for retail and fleet customers, including automatic crash response, emergency services, roadside assistance, crisis assist, stolen vehicle assistance, and turn-by-turn navigation; and connected services comprising mobile applications for owners to remotely control their vehicles and electric vehicle owners to locate charging stations, on-demand vehicle diagnostics, smart driver, marketplace in-vehicle commerce, in-vehicle voice, voice assistant, navigation and app ecosystem, connected navigation, SiriusXM with 360L, and 4G LTE wireless connectivity, as well as develops and commercializes autonomous vehicle technology. Further, the company provides automotive financing and insurance services; and software-enabled services and subscriptions. General Motors Company was founded in 1908 and is headquartered in Detroit, Michigan.
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1. Procter & Gamble (P&G) for cars
2. Walmart for vehicles
3. General Electric (GE) for automobiles
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- Passenger Vehicles (Cars, Trucks, SUVs): General Motors designs, manufactures, and sells a wide range of gasoline-powered and hybrid passenger vehicles across various brands, including Chevrolet, GMC, Cadillac, and Buick.
- Electric Vehicles (EVs): GM is expanding its portfolio of all-electric vehicles, leveraging its Ultium battery platform for models across its brands, such as the Chevrolet Silverado EV, Blazer EV, and Cadillac LYRIQ.
- Autonomous Driving Technology (Cruise): Through its subsidiary Cruise, GM develops and deploys self-driving vehicle technology and operates autonomous ride-hailing and delivery services in select cities.
- Vehicle Connectivity and Subscription Services (OnStar): GM provides subscription-based services like OnStar, offering in-vehicle safety, security, navigation, diagnostics, and connectivity features to its customers.
- Automotive Financing (GM Financial): GM Financial provides a comprehensive suite of automotive finance and insurance products and services to customers and dealers, primarily supporting the sale of GM vehicles.
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General Motors (symbol: GM) primarily sells vehicles that are ultimately used by a variety of customers, including individuals and various organizations. While GM sells directly to independent dealerships, the spirit of identifying major customers typically refers to the end-users of its products. Therefore, we will categorize the customers that GM primarily serves: ```htmlGeneral Motors (symbol: GM) primarily sells its vehicles to a wide range of end-users. While its direct customers are often independent dealerships, the company serves the following major categories of ultimate customers:
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Individual Consumers
This category includes private individuals and households who purchase GM vehicles (cars, trucks, and SUVs) for personal transportation and use. This is GM's largest customer segment, with purchasing decisions often driven by factors such as lifestyle, family needs, performance, fuel efficiency, and brand loyalty.
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Commercial Fleet Operators
This segment comprises businesses that purchase multiple vehicles for their operational needs. Examples include:
- Rental Car Companies: Such as Enterprise Holdings, Hertz Global Holdings (symbol: HTZ), and Avis Budget Group (symbol: CAR), which acquire large fleets of vehicles for short-term rental to individuals and businesses.
- Corporate Fleets: Companies that provide vehicles to their employees for business travel, sales, or service operations.
- Delivery and Logistics Services: Businesses that utilize vans and trucks for package delivery, last-mile logistics, and other transportation services.
- Ride-Sharing and Ride-Hailing Services: Companies like Uber (symbol: UBER) and Lyft (symbol: LYFT) that facilitate vehicle usage for passenger transport.
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Government and Institutional Fleets
This category includes public sector entities and other institutions that purchase vehicles for official use. This can encompass:
- Municipalities and Local Governments: For police departments, fire departments, public works, and other city services.
- State and Federal Agencies: Including various government departments, military branches, and law enforcement agencies.
- Non-Profit Organizations and Universities: For transport, facilities management, and other operational needs.
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Mary Barra, Chair and Chief Executive Officer
Mary Barra has served as Chair and Chief Executive Officer of General Motors since January 2014, making history as the first woman to lead a major global automaker. She began her career with GM in 1980 as a co-op student at the Pontiac Motor Division. Throughout her four decades at GM, she has held various engineering and administrative positions, including managing the Detroit/Hamtramck Assembly plant, and serving as Vice President of Global Human Resources and Executive Vice President of Global Product Development. Under her leadership, GM has committed to a future focused on electric vehicles, autonomous innovation, and carbon neutrality.
Paul Jacobson, Executive Vice President and Chief Financial Officer
Paul Jacobson joined General Motors as Executive Vice President and Chief Financial Officer in December 2020. Prior to his role at GM, Jacobson served as the Chief Financial Officer of Delta Air Lines, Inc., a company he helped transform into one of Fortune magazine's Top 50 Most Admired Companies for six consecutive years. He began his career with Delta as a financial analyst in 1997 and was recognized eight times as the airline industry's best CFO by Institutional Investor magazine's poll of Wall Street analysts and investors.
Mark Reuss, President
Mark Reuss is the President of General Motors, overseeing the company's regional operations across North America, South America, China, and General Motors International, as well as Global Product Development, Global Design, Global Quality, and Operational Excellence teams. He began his career with GM as a student intern in 1983 and has nearly four decades of experience within the automotive industry. Reuss, a mechanical engineer, has been instrumental in GM's transition to an electric-first company, leading the development efforts for electric vehicles like the Cadillac LYRIQ and Hummer EV.
Gerald Johnson, Executive Vice President, Global Manufacturing
Gerald Johnson serves as the Executive Vice President of Global Manufacturing at General Motors. He began his extensive career with GM as a co-op student through the General Motors Institute (now Kettering University) at the age of 17. Johnson earned a Bachelor's degree in industrial administration and later a Master's in manufacturing operations from MIT. He rose through various leadership positions, including executive director of Assembly and Stamping Operations and President of General Motor Component Holdings. Johnson is also a founding member of GM's Inclusion Advisory Board.
Shilpan Amin, Senior Vice President & President, GM International and Global Chief Procurement and Supply Chain Officer
Shilpan Amin holds the positions of Senior Vice President and President, GM International, as well as Global Chief Procurement and Supply Chain Officer. In these roles, he is responsible for leading GM's business outside of North America, encompassing key international markets such as South America, the Middle East, and Asia-Pacific regions (excluding China). Amin drives profitability, regional strategy, and global vehicle program coordination, and previously served as GM's Vice President of Global Purchasing and Supply Chain, where he was crucial in streamlining procurement operations and enhancing supplier resilience.
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General Motors (GM) faces several key risks to its business, primarily driven by the rapidly evolving automotive landscape and global economic factors.
- Challenges in the Electric Vehicle (EV) Transition and Autonomous Vehicle (AV) Development: GM is investing heavily in electric vehicles and autonomous driving technology, but this transition presents significant risks. The company faces intense competition in the EV market from both traditional automakers and technology companies, coupled with the high capital investment required for EV and AV development. There are also technological, operational, and regulatory hurdles to overcome in developing self-driving software and hardware, attracting talent, and ensuring sufficient capital. The slow pace of EV adoption by consumers and the complexities of scaling EV production and infrastructure further challenge GM's ambitious targets.
- Regulatory and Political Risks, including Tariffs: Shifting global trade policies and increased regulatory scrutiny pose substantial risks to GM. Tariffs, particularly on imported goods from countries like Mexico and Canada, have already had a significant financial impact, leading GM to lower its 2025 financial outlook by an estimated $4 billion to $5 billion. Additionally, climate change-related regulations, such as stricter greenhouse gas emission and fuel efficiency standards, could necessitate costly adjustments to production techniques and product lineups, potentially increasing expenses and legal risks. Political instability and economic tensions between governments also contribute to this risk category.
- Supply Chain Disruptions: General Motors relies on a complex global supply chain and "just-in-time" manufacturing processes, which make it vulnerable to disruptions. The company's ability to maintain production is highly dependent on suppliers delivering sufficient quantities of components, raw materials, and parts on time. In instances where systems, components, or raw materials are sourced from a single supplier, the risk of production interruptions due to unforeseen events is amplified.
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Chinese electric vehicle (EV) manufacturers, such as BYD, Nio, and XPeng, are rapidly expanding their global presence, offering highly competitive products at aggressive price points. This emergence threatens to erode General Motors' market share and profitability, particularly in the crucial EV segment where GM is making substantial investments, as these companies aggressively enter new international markets.
The significant operational challenges, safety incidents, and resulting regulatory scrutiny faced by its autonomous driving subsidiary, Cruise, threaten General Motors' substantial investment and long-term competitive position in the autonomous vehicle market. While competitors like Waymo continue to advance, Cruise's setbacks risk leaving GM significantly behind in a potentially transformative future mobility sector.
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General Motors (GM) participates in several significant addressable markets for its main products and services across various global regions.Automobiles and Trucks (Internal Combustion Engine and Electric Vehicles)
- Global Electric Vehicle (EV) Market: The global electric vehicle market was estimated at USD 1,328.08 billion in 2024 and is projected to reach USD 6,523.97 billion by 2030, demonstrating a Compound Annual Growth Rate (CAGR) of 32.5% from 2025 to 2030. Another estimate valued the global EV market at USD 890.72 billion in 2024, with a projection to reach approximately USD 2,529.10 billion by 2034, growing at a CAGR of 11% from 2025 to 2034.
- North America Electric Vehicle Market: This region is anticipated to experience moderate growth. The EV share in North America is expected to be below 10% in 2025 but could rebound to 22% by 2030.
- Asia Pacific Electric Vehicle Market: Valued at USD 491.90 billion in 2025, this market is expanding at a CAGR of 12.10% during the forecast period and is considered the largest region in the global electric vehicle market.
- Global Internal Combustion Engine (ICE) Market: The global internal combustion engine market was valued at US$ 249.2 billion in 2024 and is expected to reach US$ 372.2 billion by 2031, with a CAGR of 5.9% from 2025 to 2031.
- North America Internal Combustion Engine (ICE) Market: This market was valued at USD 101.02 billion in 2024 and is expected to reach USD 130.39 billion by 2030, growing at a CAGR of 4.35%. The United States holds approximately 60% of this market share.
- Asia Pacific Internal Combustion Engine (ICE) Market: The market value for this region was USD 139.36 billion in 2024, making it a dominating region.
Commercial Vehicles
- Global Commercial Vehicle Market: The global commercial vehicle market was valued at USD 950 billion in 2023 and is expected to reach USD 1,300 billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030. Another report estimated the market size at USD 1.35 trillion in 2022, projected to reach USD 1.85 trillion by 2030, with a CAGR of 3.7% from 2023 to 2030. The market was also valued at USD 848.63 billion in 2024 and is expected to grow to nearly USD 1225.45 billion by 2032 with a CAGR of 4.7% from 2025.
- North America Commercial Vehicle Market: This region held the highest market share of 59.61% in 2022 and is projected to hold around 47.7% share by 2035.
- Asia-Pacific Commercial Vehicle Market: This is the largest and fastest-growing market, accounting for over 40% of the global market share and over 48.7% in 2024.
Autonomous Driving Technology
- Global Autonomous Vehicle Market: The global autonomous vehicle market was valued at USD 109.0 billion in 2024 and is expected to reach USD 1,730.4 billion by 2033, exhibiting a CAGR of 31.85% from 2025 to 2033. Other estimates include a market size of USD 98.2 billion in 2024, projected to reach USD 812.5 billion by 2034 with a CAGR of 23.5%, and USD 124.47 billion in 2024, expected to reach USD 780.80 billion by 2032 with a CAGR of 25.80%.
- North America Autonomous Vehicle Market: This region dominates the market, holding over 40.8% of the market share in 2024 and the largest revenue share of 39.69% in 2024.
- Global Autonomous Driving Software Market: This market was valued at USD 1.8 billion in 2023 and is projected to grow at a CAGR of 13.4% between 2024 and 2032.
- North America Autonomous Driving Software Market: This market accounted for over 35% revenue share in 2023 and is expected to exceed USD 2 billion by 2032. The U.S. market alone is expected to exceed USD 1.5 billion by 2032.
Financial Services (GM Financial)
- U.S. Auto Leasing, Loans & Sales Financing Market: GM Financial holds an estimated 9.5% of the total industry revenue in the U.S. market for Auto Leasing, Loans & Sales Financing. The total market size for this specific industry in the US is not explicitly stated in the provided information.
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General Motors (GM) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends. Here are 3-5 expected drivers of GM's future revenue growth: * Continued Strength in High-Margin Internal Combustion Engine (ICE) Vehicles: GM anticipates continued strong performance from its traditional internal combustion engine lineup, particularly full-size pickups and SUVs in North America. The company has been doubling down on its U.S. manufacturing footprint with significant investments aimed at boosting high-margin SUV and pickup production. This strategy helps offset potential challenges and contributes to solid earnings and free cash flow. * Growth and Improved Profitability in Electric Vehicles (EVs): While facing evolving market dynamics, GM is strategically focused on scaling its EV lineup and improving profitability within this segment. The company forecasts a substantial increase in EV wholesale volumes, projecting a 59% rise to 300,000 units in 2025, up from 189,000 in 2024. This growth is expected to be driven by scale efficiencies, cost reductions, and greater fixed-cost absorption, leading to an anticipated improvement in EV profitability of $2 billion to $4 billion. GM continues to invest in new battery chemistries, form factors, and architectural improvements to enhance EV profitability. * Expansion of Software and Connected Services: GM is increasingly leveraging its connected vehicle ecosystem and software platforms as a significant revenue driver. The company has recognized nearly $2 billion in revenue from OnStar, Super Cruise, and other software services. Deferred revenue from these technology offerings was up 14% from Q2 to almost $5 billion, highlighting a successful expansion of its software services revenue base. GM's next-generation software-defined vehicle platform is also expected to be transformational for future revenue streams. * Disciplined Capital Allocation and Operational Efficiency: GM's focus on disciplined execution, including managing incentives, inventory, and fixed costs, is expected to support revenue growth and margin expansion. The company is recalibrating capital expenditures and implementing go-to-market, cost, and footprint initiatives to offset tariff impacts. These efforts are aimed at carrying current momentum forward and are expected to make 2026 even better than 2025.AI Analysis | Feedback
Share Repurchases
- In November 2023, General Motors announced a $10 billion accelerated share repurchase program.
- The Board of Directors approved a new share repurchase authorization of up to $6 billion in June 2024.
- In February 2025, a new $6 billion share repurchase program was announced, including a $2 billion accelerated share repurchase for the first half of 2025, following the completion of the previous $10 billion program.
Share Issuance
- General Motors has consistently reduced its outstanding common stock through share repurchase programs over the last 3-5 years.
- Shares outstanding decreased from 1.45 billion in 2021 to 963 million by November 2025.
Outbound Investments
- General Motors committed to investing $35 billion in electric vehicles (EVs) and autonomous vehicles (AVs) from 2020 through 2025.
- Significant investments were made in Ultium Cells LLC joint ventures for battery cell production, with plans for four plants.
- In 2025, GM announced a $4 billion investment over two years to expand U.S. manufacturing for both EVs and gas-powered vehicles, aiming to shift some production from Mexico and Canada to the U.S.
Capital Expenditures
- General Motors' capital expenditures averaged $8.769 billion annually from 2020 to 2024, peaking at $10.97 billion in 2023.
- Expected capital expenditures for 2025 are between $10 billion and $11 billion, and $10 billion to $12 billion annually through 2027.
- The primary focus of these expenditures is on establishing manufacturing infrastructure for electric vehicles, including battery cell production, retooling assembly plants, and investing in both EV and traditional internal combustion engine (ICE) vehicle production in the U.S.
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Trade Ideas
Select ideas related to GM. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | BBWI | Bath & Body Works | Dip Buy | DB | Insider Buys | Low D/EDip Buy with Strong Insider BuyingBuying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 13.3% | 13.3% | 0.0% |
| 11262025 | HRB | H&R Block | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.3% | 5.3% | -0.1% |
| 11262025 | LRN | Stride | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.4% | 3.4% | -4.4% |
| 11212025 | ABNB | Airbnb | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 19.7% | 19.7% | 0.0% |
| 11212025 | MTN | Vail Resorts | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 1.8% | 1.8% | -1.6% |
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Peer Comparisons for General Motors
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 33.71 |
| Mkt Cap | 39.5 |
| Rev LTM | 52,140 |
| Op Inc LTM | 3,619 |
| FCF LTM | -375 |
| FCF 3Y Avg | -966 |
| CFO LTM | 9,894 |
| CFO 3Y Avg | 9,290 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.2% |
| Rev Chg 3Y Avg | 8.9% |
| Rev Chg Q | 10.5% |
| QoQ Delta Rev Chg LTM | 2.7% |
| Op Mgn LTM | 1.9% |
| Op Mgn 3Y Avg | 2.7% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 14.7% |
| CFO/Rev 3Y Avg | 10.6% |
| FCF/Rev LTM | -2.0% |
| FCF/Rev 3Y Avg | 1.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 39.5 |
| P/S | 2.6 |
| P/EBIT | 8.2 |
| P/E | 17.0 |
| P/CFO | 3.4 |
| Total Yield | 2.5% |
| Dividend Yield | 0.4% |
| FCF Yield 3Y Avg | -2.7% |
| D/E | 1.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 16.5% |
| 3M Rtn | 13.7% |
| 6M Rtn | 39.4% |
| 12M Rtn | 38.5% |
| 3Y Rtn | 82.3% |
| 1M Excs Rtn | 13.1% |
| 3M Excs Rtn | 10.5% |
| 6M Excs Rtn | 26.0% |
| 12M Excs Rtn | 24.3% |
| 3Y Excs Rtn | 0.7% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| General Motors North America (GMNA) | 141,445 | 128,378 | 101,308 | 96,733 | 106,366 |
| General Motors International (GMI) | 15,949 | 15,420 | 12,172 | 11,586 | 16,111 |
| General Motors (GM) Financial | 14,225 | 12,766 | 13,419 | 13,831 | 14,554 |
| Corporate | 273 | 177 | 104 | 350 | 220 |
| Cruise | 102 | 102 | 106 | 103 | 100 |
| Eliminations | 0 | ||||
| Eliminations/Reclassifications | -151 | -107 | -105 | -118 | -114 |
| Total | 171,843 | 156,736 | 127,004 | 122,485 | 137,237 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| General Motors North America (GMNA) | 155,908 | 157,250 | 121,735 | 114,137 | 109,290 |
| General Motors (GM) Financial | 130,780 | 121,544 | 113,207 | 113,410 | 108,881 |
| Corporate | 41,271 | 60,518 | 40,492 | 39,933 | 32,365 |
| General Motors International (GMI) | 26,225 | 24,808 | 22,876 | 23,019 | 24,969 |
| Cruise | 4,555 | 5,510 | 4,489 | 3,625 | 4,230 |
| Eliminations/Reclassifications | -2,817 | -1,436 | -1,145 | -1,466 | -1,454 |
| Eliminations | -82,858 | -104,157 | -56,936 | -57,464 | -50,244 |
| Total | 273,064 | 264,037 | 244,718 | 235,194 | 228,037 |
Price Behavior
Price Behavior
| Market Price | $82.88 | |
| Market Cap ($ Bil) | 78.2 | |
| First Trading Date | 11/18/2010 | |
| Distance from 52W High | -0.2% | |
| 50 Days | 200 Days | |
| DMA Price | $72.01 | $56.65 |
| DMA Trend | up | up |
| Distance from DMA | 15.1% | 46.3% |
| 3M | 1YR | |
| Volatility | 38.4% | 36.9% |
| Downside Capture | -42.05 | 61.68 |
| Upside Capture | 119.46 | 96.92 |
| Correlation (SPY) | 23.1% | 45.1% |
GM Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.96 | 0.64 | 0.58 | 0.81 | 0.84 | 1.01 |
| Up Beta | 0.27 | 0.76 | 1.03 | 1.64 | 0.90 | 1.07 |
| Down Beta | -0.99 | 2.00 | 1.61 | 1.38 | 0.91 | 1.09 |
| Up Capture | 200% | 78% | 63% | 76% | 77% | 88% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 14 | 24 | 33 | 69 | 134 | 410 |
| Down Capture | 112% | -48% | -57% | -29% | 75% | 97% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 5 | 17 | 29 | 55 | 113 | 338 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of GM With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| GM | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 66.3% | 8.3% | 19.2% | 71.9% | 8.9% | 6.0% | -10.4% |
| Annualized Volatility | 36.9% | 24.3% | 19.5% | 19.3% | 15.3% | 17.1% | 35.0% |
| Sharpe Ratio | 1.44 | 0.27 | 0.78 | 2.69 | 0.36 | 0.18 | -0.12 |
| Correlation With Other Assets | 50.5% | 45.3% | -23.6% | 6.8% | 37.2% | 18.7% | |
ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of GM With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| GM | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 15.7% | 9.8% | 14.9% | 18.7% | 11.7% | 4.8% | 32.6% |
| Annualized Volatility | 37.2% | 23.8% | 17.1% | 15.5% | 18.7% | 18.9% | 48.7% |
| Sharpe Ratio | 0.49 | 0.37 | 0.70 | 0.97 | 0.51 | 0.17 | 0.59 |
| Correlation With Other Assets | 55.6% | 53.7% | -1.6% | 16.4% | 44.5% | 24.4% | |
ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of GM With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| GM | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 11.4% | 13.1% | 14.7% | 14.9% | 6.9% | 5.2% | 69.2% |
| Annualized Volatility | 36.5% | 22.0% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.40 | 0.55 | 0.70 | 0.83 | 0.31 | 0.22 | 0.90 |
| Correlation With Other Assets | 60.0% | 58.7% | -2.6% | 24.2% | 48.4% | 17.2% | |
ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/21/2025 | 14.9% | 19.6% | 17.1% |
| 7/22/2025 | -8.1% | 0.5% | 7.2% |
| 4/29/2025 | -0.6% | -3.9% | 1.9% |
| 1/28/2025 | -8.9% | -12.8% | -11.8% |
| 10/22/2024 | 9.8% | 7.8% | 12.6% |
| 7/23/2024 | -6.4% | -10.9% | -7.2% |
| 4/23/2024 | 4.4% | 6.5% | 4.0% |
| 1/30/2024 | 7.8% | 6.8% | 14.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 14 | 15 |
| # Negative | 13 | 11 | 10 |
| Median Positive | 4.3% | 6.5% | 11.9% |
| Median Negative | -3.5% | -5.7% | -9.3% |
| Max Positive | 14.9% | 19.6% | 37.2% |
| Max Negative | -8.9% | -12.8% | -17.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10212025 | 10-Q 9/30/2025 |
| 6302025 | 7222025 | 10-Q 6/30/2025 |
| 3312025 | 5012025 | 10-Q 3/31/2025 |
| 12312024 | 1282025 | 10-K 12/31/2024 |
| 9302024 | 10222024 | 10-Q 9/30/2024 |
| 6302024 | 7232024 | 10-Q 6/30/2024 |
| 3312024 | 4232024 | 10-Q 3/31/2024 |
| 12312023 | 1302024 | 10-K 12/31/2023 |
| 9302023 | 10242023 | 10-Q 9/30/2023 |
| 6302023 | 7252023 | 10-Q 6/30/2023 |
| 3312023 | 4252023 | 10-Q 3/31/2023 |
| 12312022 | 1312023 | 10-K 12/31/2022 |
| 9302022 | 10252022 | 10-Q 9/30/2022 |
| 6302022 | 7262022 | 10-Q 6/30/2022 |
| 3312022 | 4272022 | 10-Q 3/31/2022 |
| 12312021 | 2022022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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