General Motors (GM) FY2017 results: revenue $145.6 billion, down 2.4% on the year
General Motors Co. (GM) reported revenue of $145.6 billion for fiscal 2017, the year ended 31 December 2017, down 2.4% on the year before. Net income was -$3.9 billion, and diluted earnings per share $-2.60. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2018.
Revenue
$145.6 billion
-2.4% on the year
FY2010FY2017
Operating margin
5.9%
5.8% a year earlier
FY2010FY2017
Net income
-$3.9 billion
FY2010FY2017
Diluted EPS
-$2.60
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
145,588
149,184
135,725
-2.4%
Cost of revenue
116,229
121,784
112,995
-4.6%
Gross profit
29,359
27,400
22,730
+7.1%
Gross margin
20.2%
18.4%
16.7%
Selling, general and administrative
9,575
10,345
11,888
-7.4%
Operating income
8,661
8,686
5,538
-0.3%
Operating margin
5.9%
5.8%
4.1%
Interest expense
3,141
2,535
1,883
+23.9%
Pre-tax income
11,863
12,008
8,371
-1.2%
Income tax
11,533
2,739
-1,219
+321.1%
Effective tax rate
97.2%
22.8%
-14.6%
Net income
-3,864
9,427
9,687
Net margin
-2.7%
6.3%
7.1%
Diluted EPS
-$2.60
$6.00
$5.91
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
17,328
16,607
11,769
+4.3%
Capital expenditure
8,453
8,384
6,813
+0.8%
Free cash flow
8,875
8,223
4,956
+7.9%
Free cash flow margin
6.1%
5.5%
3.7%
Cash from investing
-27,572
-35,643
-27,710
Cash from financing
12,584
17,077
13,608
-26.3%
Depreciation and amortisation
11,967
9,686
6,753
+23.5%
Share-based compensation
585
627
422
-6.7%
Buybacks
4,492
2,500
3,520
+79.7%
Dividends paid
2,233
2,368
2,242
-5.7%
Dividend per share
$1.52
$1.52
$1.38
0.0%
Diluted shares, weighted
1,492m
1,570m
1,640m
-5.0%
Shares outstanding at period end
1,400m
1,500m
1,500m
-6.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
35,001
43,836
39,871
-20.2%
Non-controlling interest
1,199
239
452
+401.7%
Debt
95,290
85,621
63,838
+11.3%
Other liabilities
80,992
91,994
90,359
-12.0%
Total liabilities and equity
212,482
221,690
194,520
-4.2%
Fixed assets
36,253
32,603
31,229
+11.2%
Goodwill
1,900
1,900
n/a
0.0%
Intangible assets
3,992
4,391
4,576
-9.1%
Investments
8,313
11,841
8,163
-29.8%
Cash and equivalents
15,512
12,574
15,238
+23.4%
Inventory
10,663
11,040
13,764
-3.4%
Other assets
135,849
147,341
121,550
-7.8%
Total assets
212,482
221,690
194,520
-4.2%
10-K for the year ended 31 December 2017, filed 6 February 2018: the filing.