NYSE · Consumer Cyclical

General Motors Company

GM · Auto Manufacturers

$75.70

▼ -0.06 (-0.09%)

Data cached · refreshes every 10 min

Mr. Market is currently offering General Motors Company at $75.70.

The business passes 4 of 7 of Graham's defensive criteria — adequate but not exceptional.

Overall Grade

Defensive

Enterprising

Profitability F

Gross Profit Margin 6.3%

Operating Margin 1.6%

Net Income Margin 1.5%

Fin. Health D

Years to Pay Off Debt 48.7 yrs

Working Capital vs Long-Term Debt -$79.2B

Working Capital $15.4B

Valuation F

Margin of Safety 0.0%

Price-to-Book 1.12x

Cash Flow C

Free Cash Flow $1.8B

CapEx % of Net Income 930.5%

Owner Earnings $42.4B

4/7

Graham Score

Enterprising

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Market Data

Market Cap $68.3B

Enterprise Value $174.7B

P/E (TTM) 27.63

Dividend Yield 0.83%

Exchange NYSE

Key Margins

Gross Profit 6.3%

Operating Margin 1.6%

Net Margin 1.5%

Company Info

Sector Consumer Cyclical

Industry Auto Manufacturers

Employees 156000

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering General Motors Company at $75.70.

The business passes 4 of 7 of Graham's defensive criteria — adequate but not exceptional.

At $75.70, the stock trades at a 7% premium to its Graham Number of $70.62. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: This stock is better suited for Graham's Enterprising investor — one willing to devote time and skill to security selection.

About General Motors Company

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts worldwide. It operates through GM North America, GM International, and GM Financial segments. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names. In addition, it sells trucks, crossovers, cars, and automobile parts through retail dealers, distributors and dealers, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. Further, the company offers various range of after-sale services through dealer network, such as maintenance, light repairs, collision repairs, vehicle accessories, and extended service warranties. Additionally, it provides automotive financing; and software-enabled services and subscriptions. General Motors Company was founded in 1908 and is based in Detroit, Michigan.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022
Gross Profit %	6.3% ▼	12.5%	11.1%	13.4%
Operating Margin %	1.6% ▼	6.8%	5.4%	6.6%
Net Income %	1.5% ▼	3.2%	5.9%	6.3%
Diluted EPS	3.27 ▼	6.37	7.32	6.13

Balance Sheet Highlights

Metric	2025	2024	2023	2022	2021
Total Assets	$281.3B	$279.8B	$273.1B	$264.0B	N/A
Total Debt	$131.3B ↑	$130.7B	$122.6B	$115.7B	N/A
Working Capital	$15.4B ▲	$12.3B	$7.2B	$9.3B	N/A
Years to Pay Debt	48.69	21.75	12.11	11.64	N/A

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	$1.8B ▲	-$6.0B	-$3.7B	-$5.1B	N/A
Owner Earnings	$42.4B	$44.5B	$46.6B	$42.4B	N/A
CapEx % of Net Income	930.5%	434.6%	243.0%	213.3%	N/A

Income Statement

	2025	2024	2023	2022
Tax Effect Of Unusual Items	29,712	-67,508	-4,158	-38,468
Tax Rate For Calcs	0	0	0	0
Normalized EBITDA	18,158,000	21,979,000	23,279,000	24,110,000
Total Unusual Items	274,000	-225,000	-77,000	-236,000
Total Unusual Items Excluding Goodwill	274,000	-225,000	-77,000	-236,000
Net Income From Continuing Operation Net Minority Interest	2,697,000	6,008,000	10,127,000	9,934,000
Reconciled Depreciation	14,588,000	12,389,000	11,888,000	11,290,000
Reconciled Cost Of Revenue	173,423,000	164,037,000	152,704,000	135,754,000
EBITDA	18,432,000	21,754,000	23,202,000	23,874,000
EBIT	3,844,000	9,365,000	11,314,000	12,584,000
Net Interest Income	127,000	121,000	198,000	-527,000
Interest Expense	727,000	846,000	911,000	987,000
Interest Income	854,000	967,000	1,109,000	460,000
Normalized Income	2,452,712	6,165,492	10,199,842	10,131,532
Net Income From Continuing And Discontinued Operation	2,697,000	6,008,000	10,127,000	9,934,000
Total Expenses	182,110,000	174,658,000	162,544,000	146,421,000
Total Operating Income As Reported	2,909,000	12,784,000	9,298,000	10,315,000
Diluted Average Shares	973,000	1,129,000	1,369,000	1,454,000
Basic Average Shares	955,000	1,115,000	1,364,000	1,445,000
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	3,180,000	7,189,000	10,022,000	8,915,000
Net Income Common Stockholders	3,180,000	7,189,000	10,022,000	8,915,000
Preferred Stock Dividends	-483,000	-1,181,000	106,000	1,019,000
Net Income	2,697,000	6,008,000	10,127,000	9,934,000
Minority Interests	-83,000	45,000	287,000	226,000
Net Income Including Noncontrolling Interests	2,780,000	5,963,000	9,840,000	9,708,000
Net Income Continuous Operations	2,780,000	5,963,000	9,840,000	9,708,000
Tax Provision	338,000	2,556,000	563,000	1,888,000
Pretax Income	3,117,000	8,519,000	10,403,000	11,597,000
Other Income Expense	83,000	-4,386,000	908,000	1,809,000
Other Non Operating Income Expenses	409,000	514,000	505,000	1,208,000
Earnings From Equity Interest	-600,000	-4,675,000	480,000	837,000
Gain On Sale Of Security	274,000	-225,000	-77,000	-236,000
Net Non Operating Interest Income Expense	127,000	121,000	198,000	-527,000
Interest Expense Non Operating	727,000	846,000	911,000	987,000
Interest Income Non Operating	854,000	967,000	1,109,000	460,000
Operating Income	2,909,000	12,784,000	9,298,000	10,314,000
Operating Expense	8,687,000	10,621,000	9,840,000	10,667,000
Selling General And Administration	8,687,000	10,621,000	9,840,000	10,667,000
Gross Profit	11,596,000	23,405,000	19,138,000	20,981,000
Cost Of Revenue	173,423,000	164,037,000	152,704,000	135,754,000
Total Revenue	185,019,000	187,442,000	171,842,000	156,735,000
Operating Revenue	185,019,000	187,442,000	171,842,000	156,735,000

Balance Sheet

	2025	2024	2023	2022	2021
Ordinary Shares Number	904,000	1,000,000	1,200,000	1,400,000
Share Issued	904,000	1,000,000	1,200,000	1,400,000
Net Debt	109,332,000	109,860,000	102,888,000	95,546,000
Total Debt	131,312,000	130,693,000	122,648,000	115,666,000
Tangible Book Value	56,766,000	58,522,000	59,445,000	62,858,000
Invested Capital	191,396,000	192,804,000	186,027,000	182,491,000
Working Capital	15,425,000	12,280,000	7,173,000	9,278,000
Net Tangible Assets	56,766,000	58,522,000	59,445,000	62,858,000
Capital Lease Obligations	1,035,000	961,000	907,000	967,000
Common Stock Equity	61,119,000	63,072,000	64,286,000	67,792,000
Total Capitalization	155,728,000	153,372,000	147,059,000	143,713,000
Total Equity Gross Minority Interest	63,168,000	65,590,000	68,307,000	72,284,000
Minority Interest	2,049,000	2,518,000	4,021,000	4,492,000
Stockholders Equity	61,119,000	63,072,000	64,286,000	67,792,000
Other Equity Interest	1,000
Gains Losses Not Affecting Retained Earnings	-10,343,000	-11,253,000	-10,247,000	-7,901,000
Other Equity Adjustments	-10,343,000	-11,253,000	-10,247,000	-7,901,000
Retained Earnings	51,524,000	53,472,000	55,391,000	49,251,000
Additional Paid In Capital	19,928,000	20,843,000	19,130,000	26,428,000
Capital Stock	9,000	10,000	12,000	14,000
Common Stock	9,000	10,000	12,000	14,000
Total Liabilities Net Minority Interest	218,116,000	214,171,000	204,757,000	191,753,000
Total Non Current Liabilities Net Minority Interest	124,774,000	117,906,000	110,312,000	100,580,000
Other Non Current Liabilities	11,504,000	10,281,000	9,919,000	9,230,000
Employee Benefits	10,528,000	10,424,000	11,694,000	10,910,000
Non Current Pension And Other Postretirement Benefit Plans	9,907,000	9,923,000	11,176,000	10,398,000
Non Current Accrued Expenses					6,005,000
Non Current Deferred Liabilities	7,098,000	5,940,000	5,019,000	3,552,000
Non Current Deferred Revenue	7,098,000	5,940,000	5,019,000	3,552,000
Long Term Debt And Capital Lease Obligation	95,644,000	91,261,000	83,680,000	76,888,000
Long Term Capital Lease Obligation	1,035,000	961,000	907,000	967,000
Long Term Debt	94,609,000	90,300,000	82,773,000	75,921,000
Current Liabilities	93,342,000	96,265,000	94,445,000	91,173,000
Other Current Liabilities	1,000	-1,000	-1,000	-1,000
Current Deferred Liabilities	3,950,000	3,371,000	2,802,000	2,489,000
Current Deferred Revenue	3,950,000	3,371,000	2,802,000	2,489,000
Current Debt And Capital Lease Obligation	35,668,000	39,432,000	38,968,000	38,778,000
Current Debt	35,668,000	39,432,000	38,968,000	38,778,000
Other Current Borrowings	35,668,000	39,432,000	38,968,000	38,778,000
Pensionand Other Post Retirement Benefit Plans Current				3,298,000	2,937,000
Payables And Accrued Expenses	53,723,000	53,463,000	52,676,000	49,907,000
Current Accrued Expenses	29,804,000	27,783,000	24,562,000	22,421,000
Payables	23,919,000	25,680,000	28,114,000	27,486,000
Accounts Payable	23,919,000	25,680,000	28,114,000	27,486,000
Total Assets	281,284,000	279,761,000	273,064,000	264,037,000
Total Non Current Assets	172,517,000	171,216,000	171,446,000	163,586,000
Other Non Current Assets	9,768,000	8,346,000	7,707,000	9,396,000
Non Current Deferred Assets	22,960,000	21,254,000	22,339,000	20,539,000
Non Current Deferred Taxes Assets	22,960,000	21,254,000	22,339,000	20,539,000
Non Current Accounts Receivable	44,384,000	46,474,000	45,043,000	40,591,000
Investments And Advances	5,681,000	7,102,000	10,613,000	10,176,000
Long Term Equity Investment	5,681,000	7,102,000	10,613,000	10,176,000
Investmentsin Associatesat Cost					9,677,000
Goodwill And Other Intangible Assets	4,353,000	4,550,000	4,841,000	4,934,000
Other Intangible Assets	2,453,000	2,650,000	2,941,000	3,034,000
Goodwill	1,900,000	1,900,000	1,900,000	1,900,000
Net PPE	85,371,000	83,490,000	80,903,000	77,950,000
Accumulated Depreciation	-49,538,000	-43,429,000	-42,862,000	-41,265,000
Gross PPE	134,909,000	126,919,000	123,765,000	119,215,000
Construction In Progress	8,982,000	7,176,000	8,135,000	7,340,000
Other Properties	66,405,000	64,000,000	64,007,000	65,694,000
Machinery Furniture Equipment	42,195,000	39,575,000	37,074,000	33,413,000
Buildings And Improvements	16,058,000	14,915,000	13,256,000	11,461,000
Land And Improvements	1,269,000	1,253,000	1,293,000	1,307,000
Current Assets	108,767,000	108,545,000	101,618,000	100,451,000
Other Current Assets	8,311,000	7,655,000	7,237,000	6,826,000
Inventory	14,467,000	14,564,000	16,461,000	15,366,000
Other Inventories				-1,000
Finished Goods	8,062,000	8,120,000	9,039,000	7,353,000
Raw Materials	6,405,000	6,444,000	7,422,000	8,014,000
Receivables	58,320,000	59,189,000	51,454,000	46,956,000
Accounts Receivable	58,320,000	59,189,000	51,454,000	46,956,000
Allowance For Doubtful Accounts Receivable	-1,412,000	-1,304,000	-1,204,000	-1,129,000
Gross Accounts Receivable	59,732,000	60,493,000	52,658,000	48,085,000
Cash Cash Equivalents And Short Term Investments	27,669,000	27,137,000	26,466,000	31,303,000
Other Short Term Investments	6,724,000	7,265,000	7,613,000	12,150,000
Cash And Cash Equivalents	20,945,000	19,872,000	18,853,000	19,153,000
Cash Equivalents	10,060,000	7,401,000	9,875,000	10,231,000
Cash Financial	10,884,000	12,471,000	8,977,000	8,921,000

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	1,771,000	-5,980,000	-3,680,000	-5,144,000
Repurchase Of Capital Stock	-6,012,000	-7,064,000	-11,115,000	-2,500,000
Repayment Of Debt	-45,591,000	-43,399,000	-44,675,000	-39,606,000
Issuance Of Debt	43,191,000	53,435,000	50,963,000	45,813,000
Issuance Of Capital Stock					1,736,000
Capital Expenditure	-25,096,000	-26,109,000	-24,610,000	-21,187,000
Interest Paid Supplemental Data	6,631,000	5,515,000	6,183,000	3,606,000
Income Tax Paid Supplemental Data		1,475,000	1,726,000	1,191,000	652,000
End Cash Position	24,284,000	22,964,000	21,917,000	21,948,000
Beginning Cash Position	22,964,000	21,917,000	21,948,000	23,542,000
Effect Of Exchange Rate Changes	177,000	-503,000	54,000	-138,000
Changes In Cash	1,143,000	1,550,000	-85,000	-1,456,000
Financing Cash Flow	-9,590,000	1,938,000	-6,353,000	383,000
Cash Flow From Continuing Financing Activities	-9,590,000	1,939,000	-6,354,000	384,000
Net Other Financing Charges	-209,000	-509,000	-773,000	-3,300,000
Cash Dividends Paid	-657,000	-653,000	-597,000	-397,000
Common Stock Dividend Paid	-657,000	-653,000	-597,000	-397,000
Net Preferred Stock Issuance					1,736,000
Preferred Stock Issuance					1,736,000
Net Common Stock Issuance	-6,012,000	-7,064,000	-11,115,000	-2,500,000
Common Stock Payments	-6,012,000	-7,064,000	-11,115,000	-2,500,000
Net Issuance Payments Of Debt	-2,712,000	10,164,000	6,132,000	6,580,000
Net Short Term Debt Issuance	-312,000	128,000	-156,000	373,000
Net Long Term Debt Issuance	-2,400,000	10,036,000	6,288,000	6,207,000
Long Term Debt Payments	-45,591,000	-43,399,000	-44,675,000	-39,606,000
Long Term Debt Issuance	43,191,000	53,435,000	50,963,000	45,813,000
Investing Cash Flow	-16,134,000	-20,517,000	-14,663,000	-17,882,000
Cash Flow From Continuing Investing Activities	-16,134,000	-20,517,000	-14,663,000	-17,882,000
Net Other Investing Changes	-1,806,000	-5,645,000	-8,002,000	-7,149,000
Net Investment Purchase And Sale	673,000	345,000	4,916,000	-3,780,000
Sale Of Investment	3,012,000	4,331,000	9,345,000	8,057,000
Purchase Of Investment	-2,339,000	-3,986,000	-4,429,000	-11,837,000
Net PPE Purchase And Sale	-5,698,000	-4,387,000	-607,000	2,285,000
Sale Of PPE	10,095,000	10,892,000	13,033,000	14,234,000
Purchase Of PPE	-15,793,000	-15,279,000	-13,640,000	-11,949,000
Capital Expenditure Reported	-9,303,000	-10,830,000	-10,970,000	-9,238,000
Operating Cash Flow	26,867,000	20,129,000	20,930,000	16,043,000
Cash Flow From Continuing Operating Activities	26,867,000	20,126,000	20,930,000	16,042,000
Change In Working Capital	9,056,000	-1,529,000	1,822,000	-2,977,000
Change In Other Working Capital	-1,000
Change In Other Current Assets	214,000	-2,022,000	-685,000	-248,000
Change In Payables And Accrued Expense	4,738,000	7,014,000	5,063,000	9,335,000
Change In Accrued Expense	6,844,000	6,018,000	5,582,000	2,918,000
Change In Payable	-2,106,000	996,000	-519,000	6,417,000
Change In Account Payable	-2,145,000	1,284,000	-398,000	6,144,000
Change In Tax Payable	39,000	-288,000	-121,000	273,000
Change In Income Tax Payable	39,000	-288,000	-121,000	273,000
Change In Inventory	626,000	666,000	-757,000	-2,581,000
Change In Receivables	3,479,000	-7,187,000	-1,799,000	-9,483,000
Changes In Account Receivables	846,000	-846,000	1,183,000	-4,483,000
Other Non Cash Items	-485,000	-1,948,000	-2,263,000	-1,579,000
Deferred Tax	-1,249,000	1,368,000	-1,041,000	425,000
Deferred Income Tax	-1,249,000	1,368,000	-1,041,000	425,000
Depreciation Amortization Depletion	14,588,000	12,389,000	11,888,000	11,290,000
Depreciation And Amortization	14,588,000	12,389,000	11,888,000	11,290,000
Depreciation	14,588,000	12,389,000	11,888,000	11,290,000
Operating Gains Losses	2,177,000	3,886,000	684,000	-824,000
Pension And Employee Benefit Expense	29,000	89,000	90,000	-1,189,000
Earnings Losses From Equity Investments	1,785,000	4,118,000	245,000	193,000
Net Foreign Currency Exchange Gain Loss	363,000	-321,000	349,000	172,000
Net Income From Continuing Operations	2,780,000	5,963,000	9,840,000	9,708,000

These metrics estimate what General Motors Company is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

$70.62

Margin of Safety

Market Cap ÷ Company Value

2.47

P/B Ratio

1.12

Warren's Owner Earnings

$42.4B

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

4/7 — Enterprising Investor

✅ Adequate Size

$185.0B

vs > $1.5B revenue

❌ Strong Financial Condition

1.17x

vs Current Ratio > 2.0x

✅ Earnings Stability

No loss years (4 yrs data)

vs No negative EPS years

✅ Dividend Record

0.83%

vs Uninterrupted dividends

❌ Earnings Growth

-46.7% EPS growth

vs > 33% EPS growth

❌ Moderate P/E Ratio

27.6x

vs P/E ≤ 15.0x

✅ Moderate Price-to-Book

1.12x P/B (P/E×P/B: 30.9)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

$-121.27

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign.

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

$35.85

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	930.5%	434.6%	243.0%	213.3%	N/A
Repurchase of Capital Stock	-$6.0B	-$7.1B	-$11.1B	-$2.5B	N/A
Free Cash Flow	$1.8B ▲	-$6.0B ▼	-$3.7B ▲	-$5.1B •	N/A •
Warren's Owner Earnings	$42.4B	$44.5B	$46.6B	$42.4B	N/A

Peers & Industry Comparison

Auto Manufacturers — Auto-detected peers

Company	Price	Market Cap	P/E	Gross Margin	Net Margin	Revenue
GM	$75.70	$68.3B	27.63	6.3%	1.5%	$185.0B
TSLA Tesla, Inc.	$392.28	$1,473.3B	359.9	19.1%	3.9%	$97.9B
F Ford Motor Company	$11.53	$46.2B	N/A	7.1%	-3.2%	$189.9B
TM Toyota Motor Corporation	$188.43	$223.1B	10.6	17.6%	7.3%	$50,450.8B
STLA Stellantis N.V.	$7.10	$20.6B	N/A	5.8%	-13.9%	$155.8B

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

0.22%

Low — management has little skin in the game

Return on Equity (ROE)

4.4%

Weak — poor returns on equity

Return on Assets (ROA)

1.0%

Poor — assets are not generating adequate returns

Share Buybacks (Latest Year)

$6.0B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+0.5% YoY

Debt is roughly stable

Leadership Team

Mary Barra

Chairman & CEO

Age 63

Pay: $8,271,898

0.307% of net income

Mark Reuss

President

Age 61

Pay: $4,415,769

0.164% of net income

Paul Jacobson

Executive VP & CFO

Age 53

Pay: $3,233,870

0.120% of net income

Rory Harvey

Executive VP & President of Global Markets

Age 57

Pay: $2,291,093

0.085% of net income

Ashish Kohli

Vice President of Investor Relations

Age 56

Top Institutional Holders

Institution	% Owned	Shares
Vanguard Group Inc	11.99%	108,142,822
Blackrock Inc.	9.36%	84,377,471
State Street Corporation	5.07%	45,728,790
Franklin Resources, Inc.	3.57%	32,158,403
Geode Capital Management, LLC	2.47%	22,242,381
Capital World Investors	2.17%	19,536,049
Harris Associates L.P.	1.93%	17,407,745
FMR, LLC	1.76%	15,873,544

Risk Analysis

Beta (Market Risk)

1.29

Moderate volatility — moves slightly more than market

Short Interest

2.1% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

1.99x

Moderate leverage

Current Ratio

1.15x

Adequate liquidity

52-Week Price Range

Low: $44.84 Current: $75.70 High: $87.62

Currently at 72% of 52-week range

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