Stock Analysis on Net

General Motors Co. (NYSE:GM)

Analysis of Solvency Ratios 
Quarterly Data

Microsoft Excel

Solvency Ratios (Summary)

General Motors Co., solvency ratios (quarterly data)

Microsoft Excel
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
Debt Ratios
Debt to equity 2.06 1.80 1.84 1.84 1.89 1.60 1.65 1.64 1.69 1.73 1.73 1.77 1.83 2.01 2.15 2.30 2.44 2.71 3.24 3.15
Debt to capital 0.67 0.64 0.65 0.65 0.65 0.61 0.62 0.62 0.63 0.63 0.63 0.64 0.65 0.67 0.68 0.70 0.71 0.73 0.76 0.76
Debt to assets 0.46 0.44 0.45 0.44 0.45 0.42 0.43 0.43 0.43 0.43 0.44 0.44 0.45 0.46 0.46 0.47 0.47 0.49 0.54 0.51
Financial leverage 4.44 4.08 4.12 4.15 4.25 3.78 3.85 3.82 3.89 3.99 3.96 4.05 4.10 4.41 4.68 4.93 5.22 5.53 6.04 6.15
Coverage Ratios
Interest coverage 11.07 15.31 14.65 13.66 12.42 13.39 13.65 12.65 12.75 12.89 11.56 13.21 14.39 14.95 15.87 11.08 8.37

Based on: 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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. General Motors Co. debt to equity ratio improved from Q2 2024 to Q3 2024 but then deteriorated significantly from Q3 2024 to Q4 2024.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. General Motors Co. debt to capital ratio improved from Q2 2024 to Q3 2024 but then deteriorated significantly from Q3 2024 to Q4 2024.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. General Motors Co. debt to assets ratio improved from Q2 2024 to Q3 2024 but then deteriorated significantly from Q3 2024 to Q4 2024.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. General Motors Co. financial leverage ratio decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. General Motors Co. interest coverage ratio improved from Q2 2024 to Q3 2024 but then deteriorated significantly from Q3 2024 to Q4 2024.

Debt to Equity

General Motors Co., debt to equity calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt 39,432 36,162 38,098 35,976 38,968 38,652 36,668 37,010 38,778 35,084 32,306 33,037 33,720 34,819 34,190 35,068 36,913 35,773 40,023 45,061
Long-term debt, excluding current portion 90,300 91,689 88,338 86,261 82,773 80,221 81,375 77,411 75,921 77,523 78,081 76,768 75,659 74,134 76,698 76,179 72,981 81,793 87,150 81,439
Total debt 129,732 127,851 126,436 122,237 121,741 118,873 118,043 114,421 114,699 112,607 110,387 109,805 109,379 108,953 110,888 111,247 109,894 117,566 127,173 126,500
 
Stockholders’ equity 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
Solvency Ratio
Debt to equity1 2.06 1.80 1.84 1.84 1.89 1.60 1.65 1.64 1.69 1.73 1.73 1.77 1.83 2.01 2.15 2.30 2.44 2.71 3.24 3.15
Benchmarks
Debt to Equity, Competitors2
Ford Motor Co. 3.54 3.55 3.46 3.49 3.49 3.22 3.28 3.29 3.21 3.05 2.92 3.01 2.85 3.95 4.24 4.51 5.27 4.75 5.68 5.64
Tesla Inc. 0.11 0.11 0.12 0.08 0.08 0.10 0.07 0.08 0.09 0.12 0.15 0.17 0.26 0.33 0.41 0.50 0.56 0.90 1.50 1.60

Based on: 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 Q4 2024 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 129,732 ÷ 63,072 = 2.06

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. General Motors Co. debt to equity ratio improved from Q2 2024 to Q3 2024 but then deteriorated significantly from Q3 2024 to Q4 2024.

Debt to Capital

General Motors Co., debt to capital calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt 39,432 36,162 38,098 35,976 38,968 38,652 36,668 37,010 38,778 35,084 32,306 33,037 33,720 34,819 34,190 35,068 36,913 35,773 40,023 45,061
Long-term debt, excluding current portion 90,300 91,689 88,338 86,261 82,773 80,221 81,375 77,411 75,921 77,523 78,081 76,768 75,659 74,134 76,698 76,179 72,981 81,793 87,150 81,439
Total debt 129,732 127,851 126,436 122,237 121,741 118,873 118,043 114,421 114,699 112,607 110,387 109,805 109,379 108,953 110,888 111,247 109,894 117,566 127,173 126,500
Stockholders’ equity 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
Total capital 192,804 198,786 195,069 188,835 186,027 193,348 189,698 184,298 182,491 177,875 174,341 171,900 169,123 163,103 162,557 159,590 154,924 160,907 166,477 166,613
Solvency Ratio
Debt to capital1 0.67 0.64 0.65 0.65 0.65 0.61 0.62 0.62 0.63 0.63 0.63 0.64 0.65 0.67 0.68 0.70 0.71 0.73 0.76 0.76
Benchmarks
Debt to Capital, Competitors2
Ford Motor Co. 0.78 0.78 0.78 0.78 0.78 0.76 0.77 0.77 0.76 0.75 0.74 0.75 0.74 0.80 0.81 0.82 0.84 0.83 0.85 0.85
Tesla Inc. 0.10 0.10 0.10 0.08 0.08 0.09 0.06 0.07 0.09 0.10 0.13 0.15 0.20 0.25 0.29 0.34 0.36 0.47 0.60 0.62

Based on: 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 Q4 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 129,732 ÷ 192,804 = 0.67

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. General Motors Co. debt to capital ratio improved from Q2 2024 to Q3 2024 but then deteriorated significantly from Q3 2024 to Q4 2024.

Debt to Assets

General Motors Co., debt to assets calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Short-term debt and current portion of long-term debt 39,432 36,162 38,098 35,976 38,968 38,652 36,668 37,010 38,778 35,084 32,306 33,037 33,720 34,819 34,190 35,068 36,913 35,773 40,023 45,061
Long-term debt, excluding current portion 90,300 91,689 88,338 86,261 82,773 80,221 81,375 77,411 75,921 77,523 78,081 76,768 75,659 74,134 76,698 76,179 72,981 81,793 87,150 81,439
Total debt 129,732 127,851 126,436 122,237 121,741 118,873 118,043 114,421 114,699 112,607 110,387 109,805 109,379 108,953 110,888 111,247 109,894 117,566 127,173 126,500
 
Total assets 279,761 289,289 282,956 276,591 273,064 281,705 275,833 267,004 264,037 260,529 253,517 251,492 244,718 238,557 241,803 238,411 235,194 239,671 237,535 246,624
Solvency Ratio
Debt to assets1 0.46 0.44 0.45 0.44 0.45 0.42 0.43 0.43 0.43 0.43 0.44 0.44 0.45 0.46 0.46 0.47 0.47 0.49 0.54 0.51
Benchmarks
Debt to Assets, Competitors2
Ford Motor Co. 0.56 0.55 0.55 0.54 0.55 0.53 0.54 0.54 0.54 0.52 0.52 0.54 0.54 0.57 0.59 0.59 0.60 0.61 0.65 0.63
Tesla Inc. 0.07 0.06 0.07 0.05 0.05 0.06 0.04 0.04 0.05 0.06 0.08 0.09 0.12 0.16 0.19 0.22 0.24 0.32 0.39 0.39

Based on: 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 Q4 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 129,732 ÷ 279,761 = 0.46

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. General Motors Co. debt to assets ratio improved from Q2 2024 to Q3 2024 but then deteriorated significantly from Q3 2024 to Q4 2024.

Financial Leverage

General Motors Co., financial leverage calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Total assets 279,761 289,289 282,956 276,591 273,064 281,705 275,833 267,004 264,037 260,529 253,517 251,492 244,718 238,557 241,803 238,411 235,194 239,671 237,535 246,624
Stockholders’ equity 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
Solvency Ratio
Financial leverage1 4.44 4.08 4.12 4.15 4.25 3.78 3.85 3.82 3.89 3.99 3.96 4.05 4.10 4.41 4.68 4.93 5.22 5.53 6.04 6.15
Benchmarks
Financial Leverage, Competitors2
Ford Motor Co. 6.36 6.48 6.35 6.40 6.39 6.06 6.09 6.06 5.92 5.86 5.56 5.62 5.30 6.91 7.17 7.71 8.71 7.85 8.74 8.91
Tesla Inc. 1.67 1.71 1.70 1.70 1.70 1.76 1.77 1.81 1.84 1.87 1.88 1.94 2.06 2.14 2.22 2.30 2.35 2.85 3.87 4.06

Based on: 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 Q4 2024 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 279,761 ÷ 63,072 = 4.44

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. General Motors Co. financial leverage ratio decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Interest Coverage

General Motors Co., interest coverage calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Net income (loss) attributable to stockholders (2,961) 3,056 2,933 2,980 2,102 3,064 2,566 2,395 1,998 3,305 1,692 2,939 1,741 2,420 2,836 3,022 2,846 4,045 (758) 294
Add: Net income attributable to noncontrolling interest 86 (48) (56) (27) (109) (70) (59) (49) 9 (53) (50) (132) 25 (34) (57) (8) (49) (27) (22) (8)
Add: Income tax expense 319 709 766 762 (858) 470 522 429 582 845 490 (28) 471 152 971 1,177 642 887 (112) 357
Add: Automotive interest expense 215 206 206 219 222 229 226 234 268 259 234 226 227 230 243 250 275 327 303 193
Earnings before interest and tax (EBIT) (2,341) 3,923 3,849 3,934 1,357 3,693 3,255 3,009 2,857 4,356 2,366 3,005 2,464 2,768 3,993 4,441 3,714 5,232 (589) 836
Solvency Ratio
Interest coverage1 11.07 15.31 14.65 13.66 12.42 13.39 13.65 12.65 12.75 12.89 11.56 13.21 14.39 14.95 15.87 11.08 8.37
Benchmarks
Interest Coverage, Competitors2
Ford Motor Co. 7.49 3.57 3.88 3.69 4.05 6.58 4.59 3.38 -1.40 6.10 7.71 7.10 10.86 2.50 2.91 3.10 0.32
Tesla Inc. 26.69 27.71 30.41 43.99 64.93 92.91 94.40 82.09 72.83 55.02 36.16 29.34 18.10 8.49 5.73 3.38 2.54

Based on: 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 Q4 2024 Calculation
Interest coverage = (EBITQ4 2024 + EBITQ3 2024 + EBITQ2 2024 + EBITQ1 2024) ÷ (Interest expenseQ4 2024 + Interest expenseQ3 2024 + Interest expenseQ2 2024 + Interest expenseQ1 2024)
= (-2,341 + 3,923 + 3,849 + 3,934) ÷ (215 + 206 + 206 + 219) = 11.07

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. General Motors Co. interest coverage ratio improved from Q2 2024 to Q3 2024 but then deteriorated significantly from Q3 2024 to Q4 2024.