General Motors (GM) FY2013 results: revenue $155.4 billion, up 2.1% on the year
General Motors Co. (GM) reported revenue of $155.4 billion for fiscal 2013, the year ended 31 December 2013, up 2.1% on the year before. Net income was $5.3 billion, down 13.6%, and diluted earnings per share $2.38. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2014.
Revenue
$155.4 billion
+2.1% on the year
FY2010FY2013
Operating margin
3.3%
-19.9% a year earlier
FY2010FY2013
Net income
$5.3 billion
-13.6% on the year
FY2010FY2013
Diluted EPS
$2.38
-18.5% on the year
FY2010FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
155,427
152,256
150,276
+2.1%
Cost of revenue
134,925
140,236
130,386
-3.8%
Gross profit
20,502
12,020
19,890
+70.6%
Gross margin
13.2%
7.9%
13.2%
Research and development
7,200
7,400
8,100
-2.7%
Selling, general and administrative
12,382
14,031
12,163
-11.8%
Operating income
5,131
-30,363
5,656
Operating margin
3.3%
-19.9%
3.8%
Interest expense
1,049
772
744
+35.9%
Pre-tax income
7,458
-28,695
9,177
Income tax
2,127
-34,831
-110
Effective tax rate
28.5%
n/a
-1.2%
Net income
5,346
6,188
9,190
-13.6%
Net margin
3.4%
4.1%
6.1%
Diluted EPS
$2.38
$2.92
$4.58
-18.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
12,630
10,605
8,166
+19.1%
Capital expenditure
7,565
8,068
6,249
-6.2%
Free cash flow
5,065
2,537
1,917
+99.6%
Free cash flow margin
3.3%
1.7%
1.3%
Cash from investing
n/a
-3,505
-12,740
Cash from financing
n/a
-4,741
-358
Share-based compensation
311
302
233
+3.0%
Dividends paid
0.0
0.0
916
Diluted shares, weighted
1,676m
1,675m
1,668m
+0.1%
Shares outstanding at period end
1,500m
1,366m
1,565m
+9.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
42,607
36,244
38,120
+17.6%
Non-controlling interest
567
756
871
-25.0%
Debt
36,183
16,050
13,833
+125.4%
Other liabilities
86,987
96,372
91,779
-9.7%
Total liabilities and equity
166,344
149,422
144,603
+11.3%
Fixed assets
25,867
24,196
23,005
+6.9%
Goodwill
1,560
1,973
29,019
-20.9%
Intangible assets
5,668
6,809
10,014
-16.8%
Investments
8,972
8,988
16,148
-0.2%
Loans
n/a
n/a
3,251
Cash and equivalents
20,021
18,422
16,071
+8.7%
Inventory
14,039
14,714
14,324
-4.6%
Other assets
90,217
74,320
32,771
+21.4%
Total assets
166,344
149,422
144,603
+11.3%
10-K for the year ended 31 December 2013, filed 6 February 2014: the filing.