General Motors (GM) FY2014 results: revenue $155.9 billion, up 0.3% on the year
General Motors Co. (GM) reported revenue of $155.9 billion for fiscal 2014, the year ended 31 December 2014, up 0.3% on the year before. Net income was $3.9 billion, down 26.1%, and diluted earnings per share $1.65. The figures are the company's own, from the 10-K it filed with the SEC on 4 February 2015.
Revenue
$155.9 billion
+0.3% on the year
FY2010FY2014
Operating margin
1.0%
3.3% a year earlier
FY2010FY2014
Net income
$3.9 billion
-26.1% on the year
FY2010FY2014
Diluted EPS
$1.65
-30.7% on the year
FY2010FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
155,929
155,427
152,256
+0.3%
Cost of revenue
138,082
134,925
140,236
+2.3%
Gross profit
17,847
20,502
12,020
-12.9%
Gross margin
11.4%
13.2%
7.9%
Research and development
n/a
7,200
7,400
Selling, general and administrative
12,158
12,382
14,031
-1.8%
Operating income
1,530
5,131
-30,363
-70.2%
Operating margin
1.0%
3.3%
-19.9%
Interest expense
1,829
1,049
772
+74.4%
Pre-tax income
4,246
7,458
-28,695
-43.1%
Income tax
228
2,127
-34,831
-89.3%
Effective tax rate
5.4%
28.5%
n/a
Net income
3,949
5,346
6,188
-26.1%
Net margin
2.5%
3.4%
4.1%
Diluted EPS
$1.65
$2.38
$2.92
-30.7%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
10,061
12,630
10,605
-20.3%
Capital expenditure
7,091
7,565
8,068
-6.3%
Free cash flow
2,970
5,065
2,537
-41.4%
Free cash flow margin
1.9%
3.3%
1.7%
Cash from investing
n/a
n/a
-3,505
Cash from financing
n/a
n/a
-4,741
Share-based compensation
245
311
302
-21.2%
Buybacks
3,277
n/a
n/a
Dividends paid
1,928
0.0
0.0
Dividend per share
$1.20
n/a
n/a
Diluted shares, weighted
1,687m
1,676m
1,675m
+0.7%
Shares outstanding at period end
1,600m
1,500m
1,366m
+6.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
35,457
42,607
36,244
-16.8%
Non-controlling interest
567
567
756
0.0%
Debt
47,540
36,183
16,050
+31.4%
Other liabilities
93,747
86,987
96,372
+7.8%
Total liabilities and equity
177,311
166,344
149,422
+6.6%
Fixed assets
27,743
25,867
24,196
+7.3%
Goodwill
1,427
1,560
1,973
-8.5%
Intangible assets
4,983
5,668
6,809
-12.1%
Investments
9,222
8,972
8,988
+2.8%
Cash and equivalents
18,954
20,021
18,422
-5.3%
Inventory
13,642
14,039
14,714
-2.8%
Other assets
101,340
90,217
74,320
+12.3%
Total assets
177,311
166,344
149,422
+6.6%
10-K for the year ended 31 December 2014, filed 4 February 2015: the filing.