General Motors Company
- What it sells
- Vehicle, parts, and accessories is 87% of revenue (fiscal year to Dec 2025), down from 88% two years earlier.
- Growing?
- Yes: revenue up 3% on a year earlier (quarter ended Sep 2026); earnings per share down 12% over the last four quarters.
- Expensive?
- Pricier than usual: 19.8× trailing earnings; its five-year median is 6.5×. Priced 91% below the peer median of 222x (excludes 2 unprofitable peers).
- Analysts?
- 83% of 24 say buy; average 12-month target $101, 17% above today's price.
- Risky?
- About average for a large company: its price swung 34% over the past year (the S&P 500's 14%), and it fell as much as 59% since Nov 2021.
General Motors Company (GM) designs, manufactures, and sells cars and trucks under brands including Chevrolet, GMC, Cadillac, and Buick, monetizing primarily through vehicle sales plus parts/accessories, connected-vehicle services, and GM Financial financing/leasing income.
More about General Motors Company
Market Position
GM is a leading incumbent automaker in North America, competing with other full-line OEMs on product breadth, manufacturing scale, and an expanding lineup of EVs and software-enabled vehicle services.
Key Segments
GM reports results across GM North America (GMNA), GM International (GMI), Cruise (autonomous driving development), and GM Financial (auto financing and leasing).
How has the stock done?
Over the past month GM rose 4.7%; the consumer discretionary ETF (XLY) rose 7.3% and the S&P 500 fell 2.7%.
Over the past six months GM rose 12.8%; the consumer discretionary ETF (XLY) rose 1.8% and the S&P 500 rose 2.6%.
Over the past year GM rose 20.1%; the consumer discretionary ETF (XLY) rose 1.3% and the S&P 500 rose 10.8%.
Over five years GM rose 36.0%; the consumer discretionary ETF (XLY) rose 18.2% and the S&P 500 rose 62.0%.
From Jan 4, 2022 to Nov 9, 2023, the deepest drop from a high since Nov 2021
How much the price swings in a year; the S&P 500's was 14%
When the S&P 500 moves 1%, the stock has moved about 1.1% the same way
Show the earnings releases
| Released | Quarter | Revenue | EPS vs estimate | Stock, day after | 5 days after |
|---|---|---|---|---|---|
| Oct 20, 2026 | ended Sep 2026 | $50.0B (+3% vs a year earlier) | $3.70 vs $3.63 (beat) | −8.0% | −2.7% |
| Jul 21, 2026 | ended Jun 2026 | $48.0B (+2% vs a year earlier) | $3.57 vs $3.19 (beat) | +8.4% | +19.1% |
| Apr 28, 2026 | ended Mar 2026 | $43.6B (−1% vs a year earlier) | $3.70 vs $2.64 (beat) | −1.7% | −2.3% |
| Jan 27, 2026 | ended Dec 2025 | $45.3B (−5% vs a year earlier) | $2.51 vs $2.27 (beat) | +6.9% | +7.9% |
| Oct 21, 2025 | ended Sep 2025 | $48.6B (0% vs a year earlier) | — | +16.1% | +20.5% |
| Jul 22, 2025 | ended Jun 2025 | $47.1B (−2% vs a year earlier) | — | −0.2% | −2.1% |
| Apr 29, 2025 | ended Mar 2025 | $44.0B (+2% vs a year earlier) | — | −4.2% | −3.8% |
| Jan 28, 2025 | ended Dec 2024 | $47.7B (+11% vs a year earlier) | — | −9.4% | −11.6% |
| Oct 22, 2024 | ended Sep 2024 | $48.8B (+10% vs a year earlier) | — | +8.2% | +5.3% |
| Jul 23, 2024 | ended Jun 2024 | $48.0B (+7% vs a year earlier) | — | −6.2% | −10.8% |
| Apr 23, 2024 | ended Mar 2024 | $43.0B (+8% vs a year earlier) | — | +4.3% | +3.1% |
| Jan 30, 2024 | ended Dec 2023 | $43.0B (0% vs a year earlier) | — | +9.6% | +7.5% |
| Oct 24, 2023 | ended Sep 2023 | $44.1B (+5% vs a year earlier) | — | −0.7% | −3.5% |
| Jul 25, 2023 | ended Jun 2023 | $44.7B (+25% vs a year earlier) | — | −2.6% | −3.0% |
| Apr 25, 2023 | ended Mar 2023 | $40.0B (+11% vs a year earlier) | — | −6.0% | −3.5% |
| Jan 31, 2023 | ended Dec 2022 | $43.1B (+28% vs a year earlier) | — | +8.3% | +14.1% |
| Oct 25, 2022 | ended Sep 2022 | $41.9B (+56% vs a year earlier) | — | +6.0% | +10.2% |
| Jul 26, 2022 | ended Jun 2022 | $35.8B (+5% vs a year earlier) | — | +0.5% | +4.7% |
| Apr 26, 2022 | ended Mar 2022 | $36.0B (+11% vs a year earlier) | — | −2.9% | +0.3% |
| Feb 1, 2022 | ended Dec 2021 | $33.6B (−10% vs a year earlier) | — | +1.5% | −6.2% |
Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.
Is the business growing?
Revenue was $50.0B in the quarter ended Sep 2026, up 3% from a year earlier.
Show the data
| Quarter ended | Revenue | vs a year earlier |
|---|---|---|
| Dec 2022 | $43.1B | +28% |
| Mar 2023 | $40.0B | +11% |
| Jun 2023 | $44.7B | +25% |
| Sep 2023 | $44.1B | +5% |
| Dec 2023 | $43.0B | 0% |
| Mar 2024 | $43.0B | +8% |
| Jun 2024 | $48.0B | +7% |
| Sep 2024 | $48.8B | +10% |
| Dec 2024 | $47.7B | +11% |
| Mar 2025 | $44.0B | +2% |
| Jun 2025 | $47.1B | −2% |
| Sep 2025 | $48.6B | 0% |
| Dec 2025 | $45.3B | −5% |
| Mar 2026 | $43.6B | −1% |
| Jun 2026 | $48.0B | +2% |
| Sep 2026 | $50.0B | +3% |
Revenue went from $156.7B in FY22 to $185.0B in FY25; net income from $9.9B to $2.7B.
Show the data
| Fiscal year | Revenue | Net income |
|---|---|---|
| FY22 | $156.7B | $9.9B |
| FY23 | $171.8B | $10.1B |
| FY24 | $187.4B | $6.0B |
| FY25 | $185.0B | $2.7B |
In the fiscal year to Dec 2025, Vehicle, parts, and accessories was 87% and Services and other was 3% of revenue; 9% was revenue not from contracts with customers, which this breakdown does not split.
Show the data
| Fiscal year | Part | Revenue | Share |
|---|---|---|---|
| FY2023 | Vehicle, parts, and accessories | $151.5B | 88% |
| FY2023 | Services and other | $5.2B | 3% |
| FY2023 | Used vehicles | $991M | 1% |
| FY2023 | Other (non-contract revenue) | $14.2B | 8% |
| FY2024 | Vehicle, parts, and accessories | $165.2B | 88% |
| FY2024 | Services and other | $5.1B | 3% |
| FY2024 | Used vehicles | $1.3B | 1% |
| FY2024 | Other (non-contract revenue) | $15.8B | 8% |
| FY2025 | Vehicle, parts, and accessories | $160.5B | 87% |
| FY2025 | Services and other | $5.7B | 3% |
| FY2025 | Used vehicles | $1.7B | 1% |
| FY2025 | Other (non-contract revenue) | $17.0B | 9% |
A year earlier $1.35
Diluted, from SEC filings
Quarters: General Motors Company's SEC filings, named by the month they end. Fiscal years: General Motors Company's annual reports to the SEC.
How it makes money
Of every $100 in revenue, $1.5 ends up as net income. Net margin fell from 6.3% to 1.5% over the past 3 years.
−7.1 pts over 3 years
−5.0 pts over 3 years
−4.9 pts over 3 years
Each margin is that line of the income statement divided by revenue. Fiscal year: General Motors Company's annual reports to the SEC.
Is inventory piling up?
General Motors Company held $15.6B of inventory at the end of Sep 2026, up 2.1% from a year earlier, while its revenue for the quarter rose 2.9% against the same quarter a year earlier. Inventory kept pace with sales.
At the end of Sep 2026, +2.1% on a year earlier
Quarter ended Sep 2026
Show the data
| Quarter ended | Inventory | vs a year earlier | Revenue vs a year earlier |
|---|---|---|---|
| Dec 2023 | $16.5B | +7.1% | −0.3% |
| Mar 2024 | $17.5B | −1.3% | +7.6% |
| Jun 2024 | $17.6B | −1.7% | +7.2% |
| Sep 2024 | $17.3B | −2.3% | +10.5% |
| Dec 2024 | $14.6B | −11.5% | +11.0% |
| Mar 2025 | $15.3B | −13.0% | +2.3% |
| Jun 2025 | $15.5B | −12.2% | −1.8% |
| Sep 2025 | $15.3B | −11.6% | −0.3% |
| Dec 2025 | $14.5B | −0.7% | −5.1% |
| Mar 2026 | $15.6B | +2.2% | −0.9% |
| Jun 2026 | $15.9B | +3.2% | +1.9% |
| Sep 2026 | $15.6B | +2.1% | +2.9% |
From General Motors Company's SEC filings: inventory at each quarter end, against the same quarter end a year earlier, and the quarter's revenue against the same quarter a year earlier.
Customers and suppliers
In its latest annual report General Motors Company buys from Ultium Cells Holdings, LGES.
Suppliers
GMGeneral Motors CompanyCustomers
Partners
Lithium Americas LACGeneral Motors Company invested in it · Receives equity investment$0.3 billion investment in each of 2024 and 2023Ultium Cells HoldingsJoint venture producing EV battery cellsEqually owned joint ventureLGES 373220.KSCo-owns EV battery cell manufacturing ventureEqually owned joint ventureChanges since the previous annual report (10-K filed Jan 28, 2025)
EVgo EVGONo longer named (was a partner)
Tesla TSLANo longer named (was a partner)Show the filing's words
| Company | Role | In the filing's words |
|---|---|---|
| Ultium Cells Holdings | partner · joint venture with it | “(a) Equity earnings related to Ultium Cells Holdings LLC, an equally owned joint venture with LG Energy Solution (LGES), are presented in Automotive and other cost of sales as this entity is integral to the operations of our business by providing battery cells for our EVs.” |
| Ultium Cells Holdings | supplier | “(a) Equity earnings related to Ultium Cells Holdings LLC, an equally owned joint venture with LG Energy Solution (LGES), are presented in Automotive and other cost of sales as this entity is integral to the operations of our business by providing battery cells for our EVs.” |
| LGES | partner · joint venture with it | “(a) Equity earnings related to Ultium Cells Holdings LLC, an equally owned joint venture with LG Energy Solution (LGES), are presented in Automotive and other cost of sales as this entity is integral to the operations of our business by providing battery cells for our EVs.” |
| LGES | supplier | “After further investigation into the manufacturing processes at our battery supplier, LGES, and disassembling battery packs, we determined that the risk of battery cell defects was not confined to the initial recall population.” |
| SGM | partner · joint venture with it | “SAIC General Motors Corp., Ltd. (SGM) 50 % 50 %” |
| Pan Asia Technical Automotive Center | partner · joint venture with it | “Pan Asia Technical Automotive Center Co., Ltd. 50 % 50 %” |
| SGMS | partner · joint venture with it | “SAIC General Motors Sales Co., Ltd. (SGMS) 49 % 49 %” |
| SGMW | partner · joint venture with it | “SAIC GM Wuling Automobile Co., Ltd. (SGMW) 44 % 44 %” |
| Shanghai OnStar | partner · joint venture with it | “Shanghai OnStar Telematics Co., Ltd. (Shanghai OnStar) 40 % 40 %” |
| SGM Norsom | partner · joint venture with it | “SAIC GM (Shenyang) Norsom Motors Co., Ltd. (SGM Norsom) 25 % 25 %” |
| SGM DY | partner · joint venture with it | “SAIC GM Dong Yue Motors Co., Ltd. (SGM DY) 25 % 25 %” |
| SGM DYPT | partner · joint venture with it | “SAIC GM Dong Yue Powertrain Co., Ltd. (SGM DYPT) 25 % 25 %” |
| SAIC-GMAC | partner · joint venture with it | “SAIC-GMAC Automotive Finance Company Limited (SAIC-GMAC) 35 % 35 %” |
| SAIC-GMF Leasing | partner · joint venture with it | “SAIC-GMF Leasing Co., Ltd. 35 % 35 %” |
| SAIC | partner · joint venture with it | “SGM is a joint venture we established with Shanghai Automotive Industry Corporation (SAIC) (50%).” |
| Shanghai Automotive Group Finance Company | partner · joint venture with it | “Shanghai Automotive Group Finance Company Ltd., a subsidiary of SAIC, owns 45% of SAIC-GMAC.” |
| SAIC Financial Holdings Company | partner · joint venture with it | “SAIC Financial Holdings Company, a subsidiary of SAIC, owns 45% of SAIC-GMF Leasing Co., Ltd.” |
| Lithium Americas | partner · General Motors Company invested in it | “(a)Includes $(1.8) billion term loan to and $0.4 billion loan repayments from Ultium Cells LLC, $(1.1) billion funding to wind down Cruise robotaxi operations, and $(0.8) billion investment in nonconsolidated affiliates in the year ended December 31, 2025; $(1.3) billion and $(0.5) billion investment in Cruise in the years ended December 31, 2024 and 2023, which is inclusive of a $(0.9) billion convertible note issued by Cruise to us in the year ended December 31, 2024; $(0.7) billion investment in Ultium Cells Holdings LLC in the years ended December 31, 2024, and 2023; $(0.3) billion investment in Lithium Americas in the years ended December 31, 2024 and 2023; and $(0.1) billion for the purchase of Cruise common and preferred shares from noncontrolling shareholders in the year ended December 31, 2024.” |
| Berkshire Hathaway (10-K filed Mar 2, 2026) | co-develops with it | “Additionally, Pilot provides charging stations for electric vehicles at approximately 245 travel centers in connection with an agreement with General Motors to develop a nationwide electric vehicle fast charger network of up to 2,000 charging stalls in up to 500 U.S. locations.” |
| Berkshire Hathaway (10-K filed Mar 2, 2026) | calls it a supplier | “BHA maintains franchise agreements with 26 different vehicle manufacturers, although it derives a significant portion of its revenue from the Toyota/Lexus, General Motors, Ford/Lincoln, Nissan/Infiniti and Honda/Acura brands.” |
Only the companies General Motors Company names in its 10-K filed Jan 27, 2026 (SEC). Named in other companies' filings: those whose own latest annual report or an 8-K since names General Motors Company. The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Hover a name for the filing's own words.
Is it expensive?
P/E of 19.8x, below the peer median of 222x, with earnings still growing.
Priced 91% below the peer median of 222x (excludes 2 unprofitable peers).
Show the data
| Company | P/E (trailing) |
|---|---|
| TSLA · Tesla, Inc. | 437× |
| GM · General Motors Company | 19.8× |
| CYD · China Yuchai International Limited | 7.6× |
| F · Ford Motor Company | Loss |
| RIVN · Rivian Automotive, Inc. | Loss |
At 19.8× trailing earnings GM is above most of its five-year range; the five-year median is 6.5×.
Show the data
| Date | Trailing P/E |
|---|---|
| Nov 8, 2021 | 8.0× |
| Feb 8, 2022 | 7.4× |
| May 10, 2022 | 6.4× |
| Aug 10, 2022 | 7.2× |
| Nov 8, 2022 | 6.6× |
| Feb 9, 2023 | 6.8× |
| May 11, 2023 | 5.1× |
| Aug 11, 2023 | 4.7× |
| Nov 9, 2023 | 3.7× |
| Feb 12, 2024 | 5.4× |
| May 13, 2024 | 5.5× |
| Aug 13, 2024 | 4.9× |
| Nov 11, 2024 | 6.2× |
| Feb 13, 2025 | 7.8× |
| May 15, 2025 | 7.2× |
| Aug 15, 2025 | 8.9× |
| Nov 13, 2025 | 14.5× |
| Feb 17, 2026 | 27.0× |
| May 18, 2026 | 29.5× |
| Aug 18, 2026 | 42.3× |
| Nov 12, 2026 | 19.8× |
Closing price over diluted earnings per share of the last four reported quarters, as known on each day (a quarter counts 35 days after it ends). From SEC filings; earnings per share adjusted for splits.
What analysts expect
The average analyst price target is $101, 17% above the current price; 83% of 24 analysts rate it a buy; earnings beat estimates in all of the last 4 quarters.
Buy or Strong Buy: 20 analysts (83%). Sell or Strong Sell: 0.
Over the past year the average of the analysts' latest price targets went from $73.38 to $106.18 (+45%), while GM went from $71.89 to $86.25 (+20%). In the past three months targets were raised 4 times and cut 7 times. 5 upgrades and no downgrades over the year; the latest: Jefferies moved it to Buy from Hold on Jul 27, 2026.
Show every change
| Date | Firm | Change | Rating | Target |
|---|---|---|---|---|
| Oct 28, 2026 | Tigress Financial | Target raised | Strong Buy | $132.00, was $130.00 |
| Oct 21, 2026 | UBS | Target cut | Buy | $109.00, was $112.00 |
| Oct 21, 2026 | Goldman Sachs | Target cut | Buy | $96.00, was $112.00 |
| Oct 21, 2026 | TD Cowen | Target kept | Buy | $132.00 |
| Oct 21, 2026 | Barclays | Target cut | Overweight | $105.00, was $110.00 |
| Oct 21, 2026 | RBC Capital | Target cut | Outperform | $98.00, was $102.00 |
| Oct 21, 2026 | Morgan Stanley | Target cut | Overweight | $95.00, was $101.00 |
| Oct 12, 2026 | JP Morgan | Target cut | Overweight | $110.00, was $120.00 |
| Oct 12, 2026 | RBC Capital | Target raised | Outperform | $102.00, was $100.00 |
| Oct 7, 2026 | UBS | Target cut | Buy | $112.00, was $114.00 |
| Oct 6, 2026 | Goldman Sachs | Target raised | Buy | $112.00, was $103.00 |
| Sep 14, 2026 | UBS | Target raised | Buy | $114.00, was $102.00 |
| Jul 28, 2026 | Tigress Financial | Target raised | Strong Buy | $130.00, was $92.00 |
| Jul 27, 2026 | Jefferies | Upgrade | Buy, was Hold | $99.00, was $90.00 |
| Jul 22, 2026 | Wells Fargo | Target raised | Underweight | $61.00, was $60.00 |
| Jul 22, 2026 | Morgan Stanley | Target raised | Overweight | $101.00, was $100.00 |
| Jul 22, 2026 | TD Cowen | Target raised | Buy | $132.00, was $126.00 |
| Jul 22, 2026 | Goldman Sachs | Target raised | Buy | $103.00, was $91.00 |
| Jul 22, 2026 | RBC Capital | Target raised | Outperform | $100.00, was $94.00 |
| Jul 22, 2026 | JP Morgan | Target raised | Overweight | $120.00, was $110.00 |
| Jul 22, 2026 | Barclays | Target raised | Overweight | $110.00, was $105.00 |
| Jul 13, 2026 | RBC Capital | Target cut | Outperform | $94.00, was $95.00 |
| Jul 8, 2026 | JP Morgan | Target raised | Overweight | $110.00, was $98.00 |
| Jun 25, 2026 | Wells Fargo | Target raised | Underweight | $60.00, was $59.00 |
| Jun 11, 2026 | RBC Capital | Target kept | Outperform | $95.00 |
| Jun 1, 2026 | Citigroup | Target raised | Buy | $131.00, was $108.00 |
| May 11, 2026 | Wedbush | Target kept | Outperform | $95.00 |
| May 4, 2026 | Evercore ISI Group | Target raised | Outperform | $100.00, was $95.00 |
| Apr 29, 2026 | Mizuho | Target cut | Outperform | $100.00, was $105.00 |
| Apr 29, 2026 | TD Cowen | Target raised | Buy | $126.00, was $122.00 |
| Apr 29, 2026 | RBC Capital | Target cut | Outperform | $95.00, was $96.00 |
| Apr 29, 2026 | Wedbush | Target kept | Outperform | $95.00 |
| Apr 29, 2026 | Citigroup | Target raised | Buy | $108.00, was $105.00 |
| Apr 29, 2026 | Wells Fargo | Target raised | Underweight | $59.00, was $57.00 |
| Apr 28, 2026 | Wedbush | Target kept | Outperform | $95.00 |
| Apr 14, 2026 | Goldman Sachs | Target cut | Buy | $91.00, was $104.00 |
| Apr 14, 2026 | UBS | Target raised | Buy | $105.00, was $102.00 |
| Apr 14, 2026 | Deutsche Bank | Upgrade | Buy, was Hold | $90.00, was $83.00 |
| Mar 30, 2026 | Barclays | Target cut | Overweight | $105.00, was $110.00 |
| Mar 25, 2026 | Wolfe Research | Upgrade | Outperform, was Peer Perform | $96.00 |
| Feb 10, 2026 | Benchmark | Target raised | Buy | $90.00, was $65.00 |
| Feb 2, 2026 | Jefferies | Target raised | Hold | $97.00, was $85.00 |
| Feb 2, 2026 | Evercore ISI Group | Target raised | Outperform | $95.00, was $85.00 |
| Jan 28, 2026 | RBC Capital | Target raised | Outperform | $107.00, was $92.00 |
| Jan 28, 2026 | UBS | Target raised | Buy | $102.00, was $97.00 |
| Jan 28, 2026 | Piper Sandler | Target raised | Overweight | $105.00, was $98.00 |
| Jan 28, 2026 | Mizuho | Target raised | Outperform | $105.00, was $100.00 |
| Jan 28, 2026 | Deutsche Bank | Target raised | Hold | $83.00, was $82.00 |
| Jan 28, 2026 | Barclays | Target raised | Overweight | $110.00, was $100.00 |
| Jan 28, 2026 | Wells Fargo | Target raised | Underweight | $57.00, was $48.00 |
| Jan 23, 2026 | Barclays | Target raised | Overweight | $100.00, was $85.00 |
| Jan 21, 2026 | JP Morgan | Target raised | Overweight | $100.00, was $85.00 |
| Jan 13, 2026 | HSBC | Target raised | Hold | $75.00, was $48.00 |
| Jan 12, 2026 | Citigroup | Target raised | Buy | $98.00, was $86.00 |
| Jan 8, 2026 | Piper Sandler | Upgrade | Overweight, was Neutral | $98.00, was $66.00 |
| Dec 18, 2025 | Wedbush | Target raised | Outperform | $95.00, was $75.00 |
| Dec 15, 2025 | UBS | Target raised | Buy | $97.00, was $85.00 |
| Dec 9, 2025 | Wells Fargo | Target raised | Underweight | $48.00, was $46.00 |
| Dec 9, 2025 | Goldman Sachs | Target raised | Buy | $93.00, was $81.00 |
| Dec 8, 2025 | Morgan Stanley | Upgrade | Overweight, was Equal-Weight | $90.00, was $54.00 |
| Nov 24, 2025 | Evercore ISI Group | Target raised | Outperform | $74.00, was $68.00 |
Show the data
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| Dec ’25 | $2.27 | $2.51 | +10.6% |
| Mar ’26 | $2.64 | $3.70 | +40.2% |
| Jun ’26 | $3.19 | $3.57 | +11.9% |
| Sep ’26 | $3.63 | $3.70 | +1.9% |
The day after each of these reports the stock moved +6.9% (Dec 2025, beat); −1.7% (Mar 2026, beat); +8.4% (Jun 2026, beat); −8.0% (Sep 2026, beat).
For the quarter ending Dec 2026 (General Motors Company reports on Jan 27, 2027), analysts expect adjusted earnings of $2.54 a share, 1% more than the $2.51 of a year earlier, and revenue of $44.7B, down 1% on a year earlier. For the fiscal year ending Dec 2027, they expect revenue of $189.9B, up 2% on the year before's estimate.
Adjusted. Dec 2025: $2.51; range $2.23 to $3.86; 15 analysts
Dec 2025: $45.3B; range $43.2B to $46.6B; 13 analysts
The year to Dec 2026: $186.3B expected; range $185.6B to $203.9B; 17 analysts
Show the data
| Period | Figure | Expected | Low to high | Analysts | A year earlier | Change |
|---|---|---|---|---|---|---|
| Quarter ending Dec 2026, results Jan 27, 2027 | EPS (adjusted) | $2.54 | $2.23 to $3.86 | 15 | $2.51 (Dec 2025) | +1% |
| Quarter ending Dec 2026, results Jan 27, 2027 | Revenue | $44.7B | $43.2B to $46.6B | 13 | $45.3B (Dec 2025) | −1% |
| Quarter ending Mar 2027 | EPS (adjusted) | $3.19 | $2.72 to $3.81 | 8 | $3.70 (Mar 2026) | −14% |
| Quarter ending Mar 2027 | Revenue | $44.8B | $42.9B to $47.4B | 8 | $43.6B (Mar 2026) | +3% |
| Year ending Dec 2026 | EPS (adjusted) | $13.47 | $12.01 to $14.83 | 21 | — | — |
| Year ending Dec 2026 | Revenue | $186.3B | $182.8B to $189.3B | 17 | $185.0B (year to Dec 2025) | +1% |
| Year ending Dec 2027 | Revenue | $189.9B | $185.6B to $203.9B | 17 | $186.3B (expected, year to Dec 2026) | +2% |
Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.
Where the cash goes
Generated $14.4B in free cash flow over the year, of which $9.0B went back to shareholders (dividends plus buybacks), leaving $5.4B in the company.
Show the data
| Line | Amount |
|---|---|
| Op. cash flow | $23.4B |
| Capex | −$9.0B |
| Free cash flow | $14.4B |
| Dividends | −$1.2B |
| Buybacks | −$7.8B |
| Cash retained | $5.4B |
For every $100 of market cap, the company generates about $19.8 in free cash flow a year.
For every $100 of market cap, you receive about $0.8 in dividends a year.
Dividends plus buybacks over the last four quarters: for every $100 of market cap, about $12.3 went back to shareholders.
Show the data
| Quarter ended | Free cash flow | Dividends | Buybacks |
|---|---|---|---|
| Dec 2023 | −$49M | $104M | $10.0B |
| Mar 2024 | $369M | $198M | $280M |
| Jun 2024 | $3.4B | $136M | $1.1B |
| Sep 2024 | $4.6B | $192M | $1.0B |
| Dec 2024 | $907M | $127M | $4.7B |
| Mar 2025 | $4.2B | $175M | $2.0B |
| Jun 2025 | $4.8B | $144M | $0 |
| Sep 2025 | $5.0B | $200M | $1.5B |
| Dec 2025 | $3.6B | $138M | $2.5B |
| Mar 2026 | $1.4B | $223M | $800M |
| Jun 2026 | $4.4B | $608M | $2.0B |
| Sep 2026 | $5.0B | $215M | $2.5B |
General Motors Company had 887M diluted shares in the quarter ended Sep 2026, 8.0% fewer than a year earlier, and 7.4% fewer each year on average since Jun 2020. It spent $7.8B on buybacks over the last four quarters.
Show the data
| Quarter ended | Diluted shares |
|---|---|
| Jun 2020 | 1.43B |
| Sep 2020 | 1.44B |
| Mar 2021 | 1.46B |
| Jun 2021 | 1.47B |
| Sep 2021 | 1.47B |
| Mar 2022 | 1.47B |
| Jun 2022 | 1.47B |
| Sep 2022 | 1.46B |
| Mar 2023 | 1.40B |
| Jun 2023 | 1.39B |
| Sep 2023 | 1.38B |
| Mar 2024 | 1.16B |
| Jun 2024 | 1.15B |
| Sep 2024 | 1.13B |
| Mar 2025 | 1.00B |
| Jun 2025 | 976M |
| Sep 2025 | 964M |
| Mar 2026 | 926M |
| Jun 2026 | 910M |
| Sep 2026 | 887M |
Free cash flow: operating cash flow minus capital spending on property, plant and equipment, from SEC filings, for the last 4 quarters and by quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.
Financial health
Current ratio 1.2, short-term debt is manageable; debt-to-equity 2.1, debt is high, which adds pressure if the economy weakens.
Assets that can be turned into cash soon are 1.2x what is owed within a year. 1.5 or higher is comfortable; below 1 needs watching.
For every $1 of shareholder funds, there is $2.1 of debt (leases not counted). The higher the number, the more pressure when the economy weakens.
Cash and short-term investments of $27.7B against debt of $130.3B. Lease obligations of $1.0B are not counted: they are rent owed, not money borrowed. It also holds $5.7B of long-term investments, which can be stakes in other companies rather than cash.
Latest fiscal year balance sheet. Source: Yahoo Finance.
Who holds it
In the filings of 1 member of Congress and 7 funds whose copy leaves GM out (not traded on the exchange): Patient Capital Management, Norges Bank, Swiss National Bank, Canada Pension Plan Investment Board, Mirae Asset Global Investments, Bridgewater Associates and 2 more.
What did the funds Hunch tracks do?
Of the 83 funds whose 13F filings Hunch reads, 14 held GM at the end of their latest quarter (for most, Q2 2026). Over that quarter 6 added shares and 8 cut. The largest of them is Norges Bank, 13.21M shares worth $1.0B at Jun 30, 2026, 16.9% more than at Dec 31, 2025.
Over their latest quarter
Over their latest quarter
Show every fund
| Fund | Quarter | Shares | Value | Change in shares | Change | Filed |
|---|---|---|---|---|---|---|
| Norges Bank | Q2 2026 vs Q4 2025 | 13.21M | $1.0B | +1.91M | +17% | Aug 12, 2026 |
| Harris Associates L P | Q2 2026 | 13.20M | $1.0B | −258,900 | −1.9% | Aug 14, 2026 |
| Viking Global Investors | Q2 2026 | 5.01M | $386M | −4.17M | −45% | Aug 14, 2026 |
| National Pension Service | Q3 2026 | 4.01M | $309M | +25,396 | +0.6% | Nov 12, 2026 |
| Swiss National Bank | Q3 2026 | 2.47M | $190M | −83,400 | −3.3% | Nov 12, 2026 |
| Canada Pension Plan Investment Board | Q2 2026 | 1.88M | $145M | −316,763 | −14% | Aug 14, 2026 |
| Korea Investment | Q2 2026 | 838,319 | $64.6M | −110,646 | −12% | Aug 12, 2026 |
| Patient Capital Management | Q3 2026 | 612,724 | $47.2M | −18,834 | −3.0% | Nov 12, 2026 |
| Renaissance Technologies | Q3 2026 | 571,800 | $44.0M | +98,900 | +21% | Nov 12, 2026 |
| Mirae Asset Global Investments | Q3 2026 | 283,089 | $21.8M | +28,298 | +11% | Nov 3, 2026 |
| Tudor Investment Corp Et Al | Q2 2026 | 246,750 | $19.0M | +100,338 | +69% | Aug 14, 2026 |
| Fisher Asset Management | Q3 2026 | 102,355 | $7.9M | −4,216 | −4.0% | Nov 6, 2026 |
| Nomura Holdings | Q2 2026 | 81,926 | $6.3M | +54,354 | +197% | Aug 14, 2026 |
| Bridgewater Associates | Q2 2026 | 50,097 | $3.9M | −78,490 | −61% | Aug 14, 2026 |
From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of GM at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end. Norges Bank filed its 13F for Q1 2026 confidentially, with no holdings made public, so its row compares Q2 2026 with Q4 2025.