At a glance
General Motors Company is worth $75.87B, about 28 times its fiscal 2025 earnings. Revenue fell 1.3% to $185.02B in fiscal 2025, with 1.5% kept as profit; over 5 years it has grown 8.6% a year. It pays a 0.77% dividend yield, raised every year for at least 4 years, and returned $29.18B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +31.3% over the past year with dividends reinvested and +11.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 51.8% in the 2020 crash (S&P 500: 33.7%) and 53.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 7 months and 39 months after the lows.
The business in plain English
General Motors designs, builds and sells pickups, SUVs, crossovers and cars under the Chevrolet, GMC, Buick and Cadillac brands. Most reach buyers through dealers. Fleet customers such as businesses, governments and rental car companies took 17.7% of total vehicle sales in 2025. That year GM led US auto sales with a 17.2% share and sold about one in three new trucks in the US. Full-size pickups and SUVs with fuel-burning engines drive much of the profit.
Revenue was $185.0 billion in fiscal 2025. GM North America supplied 83.4%. GM Financial, the in-house lender offering car loans, leases and dealer financing, added 9.2%. GM International, covering markets outside North America, added 7.3%. In China, GM sells mainly through joint ventures with SAIC, under brands including Buick, Chevrolet and Wuling. GM owns only part of these ventures, so their sales are not counted in its revenue.
GM builds electric vehicles (EVs), such as the Chevrolet Equinox EV and Cadillac LYRIQ, using battery cells from Ultium Cells, its joint venture with LG Energy Solution. It has scaled back EV capacity as US demand slowed. Its software services include OnStar connected-car features and Super Cruise, a hands-free driving aid for more than 600,000 miles of US and Canadian roads. In 2025 GM began winding down its Cruise robotaxi unit to focus on driver assistance for personal vehicles.
Price history
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GM +31.3% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| GM North America | $154.32B | 83.4% |
| GM Financial | $17.06B | 9.2% |
| GMI | $13.43B | 7.3% |
| Cruise | $1.0M | 0% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $50.02B, up 2.9% from a year earlier, and net income was $3.33B (+151.3%).
- For fiscal 2025, revenue was $185.02B (-1.3% year over year; +8.6% a year from FY2020 to FY2025) with a 1.5% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +8.6% good |
|---|---|
| Operating margin | 1.6% weak |
| Free cash flow margin | 9.5% watch |
| Return on equity (FY2025) | 4.4% weak |
| Return on assets (FY2025) | 1% weak |
| Net cash (cash minus debt) | $-103.77B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $122.48B | $6.43B | $11.37B |
| FY2021 | $127.00B | $10.02B | $7.68B |
| FY2022 | $156.74B | $9.93B | $6.80B |
| FY2023 | $171.84B | $10.13B | $9.96B |
| FY2024 | $187.44B | $6.01B | $9.30B |
| FY2025 | $185.02B | $2.70B | $17.56B |
Valuation snapshot
| Market value | $75.87B |
|---|---|
| P/E ratio | 27.5 |
| Dividend yield | 0.77% |
Rank among 1514 US companies
Market value at each year end
General Motors’s market value went from $53.11B at the end of 2016 to $75.87B on Nov 2, 2026, up 43%; since the end of 2025 it is up 0%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $75.87B | +0.0% |
| 2025 | $75.86B | +29.5% |
| 2024 | $58.58B | +19.1% |
| 2023 | $49.19B | +2.9% |
| 2022 | $47.79B | -43.9% |
| 2021 | $85.12B | +42.8% |
| 2020 | $59.60B | +14.0% |
| 2019 | $52.29B | +10.8% |
| 2018 | $47.21B | -18.9% |
| 2017 | $58.22B | +9.6% |
| 2016 | $53.11B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| GM price data to Nov 2, 2026 | +11.3% | +31.3% | +47.6% | +11.0% | +13.2% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +11.3% |
| 2025 | +54.2% |
| 2024 | +49.8% |
| 2023 | +7.9% |
| 2022 | -42.4% |
| 2021 | +40.8% |
| 2020 | +15.2% |
| 2019 | +14.0% |
| 2018 | -15.1% |
| 2017 | +22.5% |
| 2016 | +7.5% |
| 2015 | +1.4% |
| 2014 | -11.5% |
| 2013 | +41.8% |
| 2012 | +42.2% |
| 2011 | -45.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 49% over that stretch · deepest drop along the way 51.8%, back to its old high 7.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 47.2% over that stretch · deepest drop along the way 53%, back to its old high 39.4 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 32 sales ($148.7M), 32 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Feb 17, 2026 | Mark L Reuss President | sell (plan) | $20.1M |
| Feb 17, 2026 | Mark L Reuss President | sell (plan) | $11.9M |
| Jul 28, 2026 | Mary T Barra Chair & CEO, Director | sell (plan) | $9.8M |
| May 27, 2026 | Mary T Barra Chair & CEO, Director | sell (plan) | $8.5M |
| Jul 28, 2026 | Mary T Barra Chair & CEO, Director | sell (plan) | $8.3M |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 7.5% | Mar 31, 2025 |
| Vanguard Capital Management | 7.47% | Mar 31, 2026 |
| STATE STREET CORPORATION | 4.9% | Sep 30, 2025 |
ETFs with the most weight in GM
| FTXR First Trust Nasdaq Transportation ETF | 8.72% |
| AIEQ Amplify AI Powered Equity ETF | 7.55% |
| MADE iShares U.S. Manufacturing ETF | 3.97% |
| OAKM Oakmark U.S. Large Cap ETF | 3.74% |
| VLUE iShares MSCI USA Value Factor ETF | 3.33% |
| VFLO VictoryShares Free Cash Flow ETF | 3.05% |
| DVAL BrandywineGLOBAL - Dynamic US Large Cap Value ETF | 2.95% |
| PJFV PGIM Jennison Focused Value ETF | 2.77% |
What could go wrong
- Heavy reliance on full-size trucks and SUVs. GM says its near-term profits depend on full-size pickups and SUVs with fuel-burning engines. Weaker demand for these models, or emissions rules that raise their cost, could hit earnings hard.
- Shifting tariffs on imported vehicles and parts. In 2025, new import tariffs, including US tariffs on imported vehicles and parts, affected GM and its suppliers. GM warns the rules keep shifting and could seriously hurt its results.
- EV bets depend on uncertain demand. GM has invested heavily in EV plants and battery joint ventures. US policy changes have slowed expected EV demand, and GM has scaled back capacity. Success depends on wider EV adoption and profitable production.
- China ventures GM doesn't fully control. GM's China business runs through joint ventures with SAIC, which GM doesn't fully control, and faces its own competitive and regulatory risks. GM's market share there fell from 8.4% in 2023 to 7.1% in 2025.
- Reliance on its lending arm, GM Financial. GM relies on GM Financial to lend to car buyers and dealers. Loan losses or higher borrowing costs could hurt profits. GM's total debt was $131.6 billion as of December 31, 2025.
- Price wars and swings in car sales. The industry has long had more factories than it needs, and sales swing with the economy. When rivals cut prices or demand drops, GM's high fixed factory and labor costs magnify the profit hit.
Recent events
- Executive or board change
- Listing notice from the exchange; Bylaws or fiscal year changed; Investor presentation or announcement
- Quarterly results released
- Major agreement signed; New debt or financial obligation; Other company announcement
- Quarterly results released
- Executive or board change; Shareholder vote results
- Executive or board change
- Quarterly results released
- Major agreement signed; New debt or financial obligation
- Quarterly results released
For income and retirement investors
GM pays a small dividend: the yield was 0.84% as of October 28, 2026. Regular dividends per share have risen four years in a row, from about $0.13 in fiscal 2021 to $0.57 in fiscal 2025, after a cut from $0.38 in fiscal 2020. Dividends used 24% of 2025 earnings and under 4% of free cash flow (cash left after capital spending), so they are well covered. GM returns far more through buybacks: $26.7 billion over fiscal 2021–2025 versus $2.5 billion in dividends. The share count fell about 42% from October 2021 to October 2026. For income investors, most of the return depends on the share price.
The stock swings sharply. It fell about 52% in the 2020 COVID crash and recovered in about seven months. In the 2022 bear market it dropped 53% and took about 39 months, until October 2025, to recover. Single stocks carry more risk than diversified funds.
Questions investors ask
How does General Motors make money?
Mostly by selling vehicles in North America. In fiscal 2025, which ended December 31, 2025, GM North America brought in $154.3 billion. That was 83.4% of GM's $185.0 billion in revenue. GM Financial, the company's auto-lending arm, added $17.1 billion (9.2%), and GM International added $13.4 billion (7.3%). The main brands are Chevrolet, GMC, Cadillac and Buick. GM also sells software services such as OnStar and Super Cruise. It owns stakes in joint ventures in China too. GM's annual report says its near-term profits depend especially on full-size pickups and SUVs with combustion engines.
Does GM raise its dividend every year?
Not every year. GM raised its regular dividend four years in a row through fiscal 2025, when it paid $0.57 a share. That was up from $0.48 in fiscal 2024. But it paid about $0.13 in fiscal 2021, down from $0.38 in fiscal 2020. As of October 29, 2026, the dividend yield was 0.8% of the share price. GM returns far more cash through buybacks, which means repurchasing its own stock. It spent $26.7 billion on buybacks over fiscal 2021–2025 and $2.49 billion on dividends. Its share count fell 41.9% between October 2021 and October 2026.
What is GM's P/E ratio?
GM's P/E ratio was 26.2 as of October 29, 2026, based on fiscal 2025 earnings. The P/E (price-to-earnings ratio) divides the share price by a year's profit per share. GM's figure reflects a weak year. Earnings per share fell to $3.27 in fiscal 2025 from $6.37 in fiscal 2024. Net income dropped 55.1% to $2.7 billion while revenue slipped 1.3%. Later results were stronger: net income for the quarter ended September 30, 2026 was $3.3 billion, up 151.3% from a year earlier.
How much has GM stock fallen in past market crashes?
More than half, twice. In the 2022 bear market, GM shares fell 53% from January 4 to July 11, 2022. They did not regain that peak until October 21, 2025, 39.4 months later. In the 2020 COVID crash they fell 51.8% and recovered in 7.1 months. The deepest drop in 15.9 years of price history was 59.9%. That history does not go back to the 2008 financial crisis. As of October 29, 2026, GM's one-year beta was 1.06. Beta compares a stock's swings with the market's, so this means the shares moved slightly more than the overall market.
Is GM still investing in electric vehicles?
Yes, but GM has cut back its electric vehicle (EV) factory capacity to match slower demand. Its 10-K, filed January 27, 2026, says changes in U.S. policy lowered its expectations for EV growth. It still sells models such as the Chevrolet Equinox EV and Cadillac LYRIQ. It also plans new battery chemistries with lower battery pack costs. Separately, GM plans to spend about $4.0 billion to move production to U.S. plants in Tennessee, Kansas and Michigan that can build both gas and electric vehicles. It plans nearly $1.0 billion more for new V8 engines in New York.