General Motors Co. (GM) intrinsic value & 10-year financials
General Motors Co. (GM) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 0.1% a year to $168.0B, with an average return on invested capital of 4.5%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $83.96
- Market cap
- $81.7B
- Revenue (FY2025)
- $168.0B
- Revenue growth (10-yr CAGR)
- 0.1%
- ROIC (10-yr avg)
- 4.5%
- Free cash flow (FY2025)
- $17.6B
GM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $168.0B | $2.7B | $3.27 | $17.6B | 1.7% | 1.5% |
| FY2024 | $171.6B | $6.0B | $6.37 | $9.3B | 7.4% | 5.2% |
| FY2023 | $157.7B | $10.1B | $7.32 | $10.0B | 5.9% | 5.3% |
| FY2022 | $144.0B | $9.9B | $6.13 | $6.8B | 7.2% | 5.5% |
| FY2021 | $113.6B | $10.0B | $6.70 | $7.7B | 8.2% | 5.1% |
| FY2020 | $108.7B | $6.4B | $4.33 | $11.4B | 6.1% | 4.0% |
| FY2019 | $122.7B | $6.7B | $4.57 | $7.4B | 4.5% | 3.9% |
| FY2018 | $133.0B | $8.0B | $5.53 | $6.5B | 3.3% | 3.5% |
| FY2017 | $145.6B | -$3.9B | -$2.60 | $8.9B | 6.9% | 4.3% |
| FY2016 | $166.4B | $9.4B | $6.00 | $7.1B | 5.7% | 6.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
General Motors has demonstrated mature, steady growth, with revenue compounding at 0.1% annually over the past decade.
General Motors has historically struggled to out-earn its cost of capital, averaging just 4.5% ROIC.
Over the decade, General Motors shows that management has aggressively returned capital to shareholders by retiring 38.0% of outstanding shares, and that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, General Motors is modeled at -6.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-12.81 per share.