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Motors Company (sometimes referred to as we, our, us, ourselves, the Company, General Motors, or GM) was incorporated as a Delaware corporation in 2009. We design, build, and sell trucks, crossovers, cars, and automobile parts and provide software-enabled services and subscriptions worldwide.
Operating margin is thin at 1.57%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 1.3% YoY. Margins deteriorated 5.2pp alongside, both lines moving the wrong way.
ROIC dropped from 15.77% to 4.06%, capital efficiency is deteriorating. Operating margin contracted 5.2pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$184.62B
▼ -1.3% YoY
Net Income (TTM)
$2.47B
▼ -55.1% YoY
Op. Margin
1.34%
▼ -5.2pp YoY
ROIC
3.45%
▼ -11.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$14.76B
▲ +88.9% YoY
Op. Cash Flow (TTM)
$23.76B
▲ +33.5% YoY
Net Debt
-$24.42B
Net Cash Position
Cash & Equiv.
$24.42B
5Y CAGR: +8.6%
5Y CAGR: +9.1%
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