General Motors (GM) FY2019 results: revenue $137.2 billion, down 6.7% on the year
General Motors Co. (GM) reported revenue of $137.2 billion for fiscal 2019, the year ended 31 December 2019, down 6.7% on the year before. Net income was $6.7 billion, down 16.0%, and diluted earnings per share $4.57. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2020.
Revenue
$137.2 billion
-6.7% on the year
FY2012FY2019
Operating margin
4.0%
3.0% a year earlier
FY2012FY2019
Net income
$6.7 billion
-16.0% on the year
FY2012FY2019
Diluted EPS
$4.57
-17.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
137,237
147,049
145,588
-6.7%
Cost of revenue
110,651
120,656
116,229
-8.3%
Gross profit
26,586
26,393
29,359
+0.7%
Gross margin
19.4%
17.9%
20.2%
Selling, general and administrative
8,491
9,650
9,575
-12.0%
Operating income
5,481
4,445
8,661
+23.3%
Operating margin
4.0%
3.0%
5.9%
Interest expense
4,423
3,880
3,141
+14.0%
Pre-tax income
7,436
8,549
11,863
-13.0%
Income tax
769
474
11,533
+62.2%
Effective tax rate
10.3%
5.5%
97.2%
Net income
6,732
8,014
-3,864
-16.0%
Net margin
4.9%
5.4%
-2.7%
Diluted EPS
$4.57
$5.53
-$2.60
-17.4%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
15,021
15,256
17,328
-1.5%
Capital expenditure
7,592
8,761
8,453
-13.3%
Free cash flow
7,429
6,495
8,875
+14.4%
Free cash flow margin
5.4%
4.4%
6.1%
Cash from investing
-10,899
-20,763
-27,572
Cash from financing
-4,677
11,454
12,584
Depreciation and amortisation
14,060
13,142
11,967
+7.0%
Share-based compensation
456
316
585
+44.3%
Buybacks
0.0
190
4,492
Dividends paid
2,350
2,242
2,233
+4.8%
Dividend per share
$1.52
$1.52
$1.52
0.0%
Diluted shares, weighted
1,439m
1,431m
1,492m
+0.6%
Shares outstanding at period end
1,400m
1,400m
1,400m
0.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
41,792
38,860
35,001
+7.5%
Non-controlling interest
4,165
3,917
1,199
+6.3%
Redeemable equity
0.0
n/a
n/a
Debt
103,951
106,148
95,290
-2.1%
Operating lease liabilities
1,010
0.0
n/a
Other liabilities
77,119
78,414
80,992
-1.7%
Total liabilities and equity
228,037
227,339
212,482
+0.3%
Fixed assets
38,750
38,758
36,253
-0.0%
Goodwill
1,900
1,900
1,900
0.0%
Intangible assets
3,478
3,718
3,992
-6.5%
Investments
4,174
5,966
8,313
-30.0%
Cash and equivalents
19,069
20,844
15,512
-8.5%
Receivables
6,797
n/a
n/a
Inventory
10,398
9,816
10,663
+5.9%
Other assets
143,471
146,337
135,849
-2.0%
Total assets
228,037
227,339
212,482
+0.3%
10-K for the year ended 31 December 2019, filed 5 February 2020: the filing.