General Motors (GM) FY2018 results: revenue $147.0 billion, up 1.0% on the year
General Motors Co. (GM) reported revenue of $147.0 billion for fiscal 2018, the year ended 31 December 2018, up 1.0% on the year before. Net income was $8.0 billion, and diluted earnings per share $5.53. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2019.
Revenue
$147.0 billion
+1.0% on the year
FY2011FY2018
Operating margin
3.0%
5.9% a year earlier
FY2011FY2018
Net income
$8.0 billion
FY2011FY2018
Diluted EPS
$5.53
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
147,049
145,588
149,184
+1.0%
Cost of revenue
120,656
116,229
121,784
+3.8%
Gross profit
26,393
29,359
27,400
-10.1%
Gross margin
17.9%
20.2%
18.4%
Selling, general and administrative
9,650
9,575
10,345
+0.8%
Operating income
4,445
8,661
8,686
-48.7%
Operating margin
3.0%
5.9%
5.8%
Interest expense
3,880
3,141
2,535
+23.5%
Pre-tax income
8,549
11,863
12,008
-27.9%
Income tax
474
11,533
2,739
-95.9%
Effective tax rate
5.5%
97.2%
22.8%
Net income
8,014
-3,864
9,427
Net margin
5.4%
-2.7%
6.3%
Diluted EPS
$5.53
-$2.60
$6.00
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
15,256
17,328
16,607
-12.0%
Capital expenditure
8,761
8,453
8,384
+3.6%
Free cash flow
6,495
8,875
8,223
-26.8%
Free cash flow margin
4.4%
6.1%
5.5%
Cash from investing
-20,763
-27,572
-35,643
Cash from financing
11,454
12,584
17,077
-9.0%
Depreciation and amortisation
13,142
11,967
9,686
+9.8%
Share-based compensation
316
585
627
-46.0%
Buybacks
190
4,492
2,500
-95.8%
Dividends paid
2,242
2,233
2,368
+0.4%
Dividend per share
$1.52
$1.52
$1.52
0.0%
Diluted shares, weighted
1,431m
1,492m
1,570m
-4.1%
Shares outstanding at period end
1,400m
1,400m
1,500m
0.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
38,860
35,001
43,836
+11.0%
Non-controlling interest
3,917
1,199
239
+226.7%
Debt
106,148
95,290
85,621
+11.4%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
78,414
80,992
91,994
-3.2%
Total liabilities and equity
227,339
212,482
221,690
+7.0%
Fixed assets
38,758
36,253
32,603
+6.9%
Goodwill
1,900
1,900
1,900
0.0%
Intangible assets
3,718
3,992
4,391
-6.9%
Investments
5,966
8,313
11,841
-28.2%
Cash and equivalents
20,844
15,512
12,574
+34.4%
Inventory
9,816
10,663
11,040
-7.9%
Other assets
146,337
135,849
147,341
+7.7%
Total assets
227,339
212,482
221,690
+7.0%
10-K for the year ended 31 December 2018, filed 6 February 2019: the filing.