Analysis of Profitability Ratios
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
General Motors Co., profitability ratios
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | General Motors Co. gross profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | General Motors Co. operating profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | General Motors Co. net profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | General Motors Co. ROE deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
| ROA | A profitability ratio calculated as net income divided by total assets. | General Motors Co. ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Gross Profit Margin
General Motors Co., gross profit margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Automotive and other gross margin | 16,328) | 17,083) | 13,046) | 11,134) | 12,046) | |
| Automotive net sales and revenue | 157,658) | 143,975) | 113,590) | 108,673) | 122,697) | |
| Profitability Ratio | ||||||
| Gross profit margin1 | 10.36% | 11.87% | 11.49% | 10.25% | 9.82% | |
| Benchmarks | ||||||
| Gross Profit Margin, Competitors2 | ||||||
| Ford Motor Co. | 9.25% | 9.85% | 9.20% | 2.75% | 6.23% | |
| Tesla Inc. | 18.25% | 25.60% | 25.28% | 21.02% | 16.56% | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Gross profit margin = 100 × Automotive and other gross margin ÷ Automotive net sales and revenue
= 100 × 16,328 ÷ 157,658 = 10.36%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Gross profit margin | Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. | General Motors Co. gross profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Operating Profit Margin
General Motors Co., operating profit margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Operating income | 9,298) | 10,315) | 9,324) | 6,634) | 5,481) | |
| Automotive net sales and revenue | 157,658) | 143,975) | 113,590) | 108,673) | 122,697) | |
| Profitability Ratio | ||||||
| Operating profit margin1 | 5.90% | 7.16% | 8.21% | 6.10% | 4.47% | |
| Benchmarks | ||||||
| Operating Profit Margin, Competitors2 | ||||||
| Ford Motor Co. | 3.29% | 4.21% | 3.58% | -3.80% | 0.40% | |
| Tesla Inc. | 9.19% | 16.76% | 12.12% | 6.32% | -0.28% | |
| Operating Profit Margin, Sector | ||||||
| Automobiles & Components | 5.63% | 8.08% | 6.94% | 1.65% | 2.06% | |
| Operating Profit Margin, Industry | ||||||
| Consumer Discretionary | 9.12% | 8.47% | 8.79% | 6.48% | 7.63% | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Operating profit margin = 100 × Operating income ÷ Automotive net sales and revenue
= 100 × 9,298 ÷ 157,658 = 5.90%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Operating profit margin | A profitability ratio calculated as operating income divided by revenue. | General Motors Co. operating profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Net Profit Margin
General Motors Co., net profit margin calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income attributable to stockholders | 10,127) | 9,934) | 10,019) | 6,427) | 6,732) | |
| Automotive net sales and revenue | 157,658) | 143,975) | 113,590) | 108,673) | 122,697) | |
| Profitability Ratio | ||||||
| Net profit margin1 | 6.42% | 6.90% | 8.82% | 5.91% | 5.49% | |
| Benchmarks | ||||||
| Net Profit Margin, Competitors2 | ||||||
| Ford Motor Co. | 2.62% | -1.33% | 14.21% | -1.10% | 0.03% | |
| Tesla Inc. | 15.50% | 15.41% | 10.25% | 2.29% | -3.51% | |
| Net Profit Margin, Sector | ||||||
| Automobiles & Components | 7.01% | 5.48% | 11.40% | 2.29% | 2.03% | |
| Net Profit Margin, Industry | ||||||
| Consumer Discretionary | 7.92% | 5.15% | 9.20% | 5.24% | 5.92% | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Net profit margin = 100 × Net income attributable to stockholders ÷ Automotive net sales and revenue
= 100 × 10,127 ÷ 157,658 = 6.42%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| Net profit margin | An indicator of profitability, calculated as net income divided by revenue. | General Motors Co. net profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Return on Equity (ROE)
General Motors Co., ROE calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income attributable to stockholders | 10,127) | 9,934) | 10,019) | 6,427) | 6,732) | |
| Stockholders’ equity | 64,286) | 67,792) | 59,744) | 45,030) | 41,792) | |
| Profitability Ratio | ||||||
| ROE1 | 15.75% | 14.65% | 16.77% | 14.27% | 16.11% | |
| Benchmarks | ||||||
| ROE, Competitors2 | ||||||
| Ford Motor Co. | 10.16% | -4.58% | 36.97% | -4.17% | 0.14% | |
| Tesla Inc. | 23.94% | 28.09% | 18.28% | 3.24% | -13.03% | |
| ROE, Sector | ||||||
| Automobiles & Components | 17.37% | 13.17% | 24.18% | 5.99% | 7.25% | |
| ROE, Industry | ||||||
| Consumer Discretionary | 30.61% | 21.65% | 34.37% | 25.29% | 34.62% | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
ROE = 100 × Net income attributable to stockholders ÷ Stockholders’ equity
= 100 × 10,127 ÷ 64,286 = 15.75%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROE | A profitability ratio calculated as net income divided by shareholders’ equity. | General Motors Co. ROE deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Return on Assets (ROA)
General Motors Co., ROA calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income attributable to stockholders | 10,127) | 9,934) | 10,019) | 6,427) | 6,732) | |
| Total assets | 273,064) | 264,037) | 244,718) | 235,194) | 228,037) | |
| Profitability Ratio | ||||||
| ROA1 | 3.71% | 3.76% | 4.09% | 2.73% | 2.95% | |
| Benchmarks | ||||||
| ROA, Competitors2 | ||||||
| Ford Motor Co. | 1.59% | -0.77% | 6.98% | -0.48% | 0.02% | |
| Tesla Inc. | 14.07% | 15.25% | 8.88% | 1.38% | -2.51% | |
| ROA, Sector | ||||||
| Automobiles & Components | 4.51% | 3.41% | 5.94% | 1.06% | 1.14% | |
| ROA, Industry | ||||||
| Consumer Discretionary | 7.66% | 4.94% | 8.07% | 4.42% | 5.57% | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
ROA = 100 × Net income attributable to stockholders ÷ Total assets
= 100 × 10,127 ÷ 273,064 = 3.71%
2 Click competitor name to see calculations.
| Profitability ratio | Description | The company |
|---|---|---|
| ROA | A profitability ratio calculated as net income divided by total assets. | General Motors Co. ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |