General Motors
GM on NYSE. General Motors sells cars and trucks to people and businesses. Market value $70.4bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Retail & consumer stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $20.01 of spare cash in the past 12 months. A savings account pays about $4.
You pay 100.6 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 5 cents a year. Above 10 is good.
Quality score: 63 of 100. Price score: 48 of 100. Our list needs 70 on quality and 60 on price.
$82.01 a share, 51% above its 1-year low
Over the past year the price has ranged from $54.33 to $91.85.
Expected to report results Tuesday 20 Oct, before the market opens.
Dividend: 0.9% a year
Paid every year for at least 5 years
Payouts have jumped around in recent years, so this may not repeat.
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $127.0bn | $156.7bn | $171.8bn | $187.4bn | $185.0bn |
| Operating margin | |||||
| Operating margin | 7.3% | 6.6% | 5.4% | 6.8% | 1.6% |
| Debt to equity | |||||
| Debt to equity | 1.84 | 1.71 | 1.92 | 2.09 | 2.15 |
| Shares outstanding | |||||
| Shares outstanding | 1.39bn | 1.15bn | 1.00bn | 0.90bn | 0.88bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)7 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- Debt2.15× equity
- Revenue growth, five yearsSlow, 8.6% a year
- Buying back its own sharesYes, 37% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $48 billion last quarter, up 2% on a year ago.
- Profit: $1.3 billion, down 31% on a year ago.
- It keeps 1 cents of each $1 of sales as operating profit, down from 6 cents a year earlier.
- Spare cash over the past 12 months: $14.4 billion, down from $14.5 billion.
- 7% fewer shares than a year ago. Each share owns a bit more of the company.
- Sales grew on a year ago in 1 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $48.8bn |
| December 2024 | $47.7bn |
| March 2025 | $44.0bn |
| June 2025 | $47.1bn |
| September 2025 | $48.6bn |
| December 2025 | $45.3bn |
| March 2026 | $43.6bn |
| June 2026 | $48.0bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $3.1bn |
| December 2024 | -$3.0bn |
| March 2025 | $2.8bn |
| June 2025 | $1.9bn |
| September 2025 | $1.3bn |
| December 2025 | -$3.3bn |
| March 2026 | $2.6bn |
| June 2026 | $1.3bn |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 20 October 2026
- Last annual report (10-K)
- 27 January 2026
- Next quarterly (estimated, 10-Q)
- 20 October 2026
Who owns it
15 long-term investors we follow own it, down from 17 last quarter. 1,563 funds in all.
- Harris Associates (Oakmark)Bill Nygren
- Value
- $1.0bn
- Share of fund
- 1.4%
- Sound Shore ManagementHarry Burn
- Value
- $79m
- Share of fund
- 2.4%
- Fairfax FinancialPrem Watsa
- Value
- $29m
- Share of fund
- 1.1%
- Chou AssociatesFrancis Chou
- Value
- $4m
- Share of fund
- 1.9%
- GAMCO InvestorsMario Gabelli
- Value
- $3m
- Share of fund
- <0.1%
- Auxier Asset ManagementJeff Auxier
- Value
- $2m
- Share of fund
- 0.3%
- Horizon KineticsMurray Stahl
- Value
- $404,670
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Harris Associates (Oakmark)Bill Nygren | $1.0bn | 1.4% | |
| Hotchkis & WileyHotchkis & Wiley team | $601m | 1.8% | Cut |
| LSV Asset ManagementJosef Lakonishok | $541m | 1.0% | Added |
| Viking Global InvestorsAndreas Halvorsen | $386m | 1.1% | Cut |
| Donald Smith & Co.Jon Hartsel | $125m | 2.2% | Cut |
| Sound Shore ManagementHarry Burn | $79m | 2.4% | |
| Gotham Asset ManagementJoel Greenblatt | $60m | 0.1% | Cut |
| Patient Capital ManagementSamantha McLemore | $49m | 1.6% | Cut |
| GMOJeremy Grantham | $47m | 0.1% | Cut |
| Fairfax FinancialPrem Watsa | $29m | 1.1% | |
| Chou AssociatesFrancis Chou | $4m | 1.9% | |
| GAMCO InvestorsMario Gabelli | $3m | <0.1% | |
| Auxier Asset ManagementJeff Auxier | $2m | 0.3% | |
| First Manhattan Co.First Manhattan partners | $2m | <0.1% | Cut |
| Horizon KineticsMurray Stahl | $404,670 | <0.1% |
Sold out this quarter
Largest holders overall
- BlackRock$6.0bnCut
- Vanguard Capital Management$4.5bn
- State Street$3.4bn
- Vanguard Portfolio Management$2.9bn
- Franklin Resources$2.4bnCut
- Geode Capital Management$1.7bn
- FMR$1.5bnAdded
- Capital World Investors$1.4bn
- D. E. Shaw$1.2bnAdded
- Dimensional Fund Advisors LP$1.1bn
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- BlackRock, Inc.Passive investor7.5%−1.5 ptsSince 31 March 2025
- Vanguard Capital ManagementPassive investor7.5%Since 31 March 2026
- STATE STREET CORPORATIONPassive investorSold down below 5%Since 30 September 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 7.5%−1.5 pts | 31 March 2025 | |
Vanguard Capital Management Passive investor | 7.5% | 31 March 2026 | |
STATE STREET CORPORATION Passive investor | Sold down below 5% | 30 September 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 6 sold $168m, $168m of it under preset trading plans.
- DIXTON GRANT MICHAELExecutive Vice PresidentSoldunder a preset trading plan
- Date
- 3 August 2026
- Shares
- 40,000
- Price
- $88.44
- Value
- $4m
- Reuss Mark LPresidentSoldunder a preset trading plan
- Date
- 28 July 2026
- Shares
- 71,079
- Price
- $89.97
- Value
- $6m
- Barra Mary TChair & CEO, DirectorSoldunder a preset trading plan
- Date
- 28 July 2026
- Shares
- 318,448
- Price
- $90.38
- Value
- $29m
- Hatto ChristopherVice President & CAOSoldunder a preset trading plan
- Date
- 28 July 2026
- Shares
- 6,895
- Price
- $90.00
- Value
- $620,550
- Harvey RoryExecutive Vice PresidentSoldunder a preset trading plan
- Date
- 27 July 2026
- Shares
- 8,882
- Price
- $86.95
- Value
- $772,290
- Barra Mary TChair & CEO, DirectorSoldunder a preset trading plan
- Date
- 27 July 2026
- Shares
- 104,361
- Price
- $85.32
- Value
- $9m
- Barra Mary TChair & CEO, DirectorSoldunder a preset trading plan
- Date
- 16 June 2026
- Shares
- 99,239
- Price
- $85.10
- Value
- $8m
- Barra Mary TChair & CEO, DirectorSoldunder a preset trading plan
- Date
- 9 June 2026
- Shares
- 20,582
- Price
- $85.00
- Value
- $2m
- Barra Mary TChair & CEO, DirectorSoldunder a preset trading plan
- Date
- 29 May 2026
- Shares
- 23,000
- Price
- $85.00
- Value
- $2m
- Harvey RoryExecutive Vice PresidentSoldunder a preset trading plan
- Date
- 28 May 2026
- Shares
- 9,124
- Price
- $84.97
- Value
- $775,266
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 3 August 2026 | DIXTON GRANT MICHAEL Executive Vice President | Sold under a preset trading plan | 40,000 | $88.44 | $4m |
| 28 July 2026 | Reuss Mark L President | Sold under a preset trading plan | 71,079 | $89.97 | $6m |
| 28 July 2026 | Barra Mary T Chair & CEO, Director | Sold under a preset trading plan | 318,448 | $90.38 | $29m |
| 28 July 2026 | Hatto Christopher Vice President & CAO | Sold under a preset trading plan | 6,895 | $90.00 | $620,550 |
| 27 July 2026 | Harvey Rory Executive Vice President | Sold under a preset trading plan | 8,882 | $86.95 | $772,290 |
| 27 July 2026 | Barra Mary T Chair & CEO, Director | Sold under a preset trading plan | 104,361 | $85.32 | $9m |
| 16 June 2026 | Barra Mary T Chair & CEO, Director | Sold under a preset trading plan | 99,239 | $85.10 | $8m |
| 9 June 2026 | Barra Mary T Chair & CEO, Director | Sold under a preset trading plan | 20,582 | $85.00 | $2m |
| 29 May 2026 | Barra Mary T Chair & CEO, Director | Sold under a preset trading plan | 23,000 | $85.00 | $2m |
| 28 May 2026 | Harvey Rory Executive Vice President | Sold under a preset trading plan | 9,124 | $84.97 | $775,266 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 27 Jan 2026, plus the 10-Q filed 21 Jul 2026 and 6 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It carries a lot of debt: 2.2× its equity.
- It isn't cheap on profits: 100.6× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.