General Motors (GM) FY2020 results: revenue $122.5 billion, down 10.7% on the year
General Motors Co. (GM) reported revenue of $122.5 billion for fiscal 2020, the year ended 31 December 2020, down 10.7% on the year before. Net income was $6.4 billion, down 4.5%, and diluted earnings per share $4.33. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2021.
Revenue
$122.5 billion
-10.7% on the year
FY2013FY2020
Operating margin
5.4%
4.0% a year earlier
FY2013FY2020
Net income
$6.4 billion
-4.5% on the year
FY2013FY2020
Diluted EPS
$4.33
-5.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
122,485
137,237
147,049
-10.7%
Cost of revenue
97,539
110,651
120,656
-11.8%
Gross profit
24,946
26,586
26,393
-6.2%
Gross margin
20.4%
19.4%
17.9%
Selling, general and administrative
7,038
8,491
9,650
-17.1%
Operating income
6,634
5,481
4,445
+21.0%
Operating margin
5.4%
4.0%
3.0%
Interest expense
4,121
4,423
3,880
-6.8%
Pre-tax income
8,095
7,436
8,549
+8.9%
Income tax
1,774
769
474
+130.7%
Effective tax rate
21.9%
10.3%
5.5%
Net income
6,427
6,732
8,014
-4.5%
Net margin
5.2%
4.9%
5.4%
Diluted EPS
$4.33
$4.57
$5.53
-5.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
16,670
15,021
15,256
+11.0%
Capital expenditure
5,300
7,592
8,761
-30.2%
Free cash flow
11,370
7,429
6,495
+53.0%
Free cash flow margin
9.3%
5.4%
4.4%
Cash from investing
-21,826
-10,899
-20,763
Cash from financing
5,552
-4,677
11,454
Depreciation and amortisation
12,676
14,060
13,142
-9.8%
Share-based compensation
351
456
316
-23.0%
Buybacks
90.0
0.0
190
Dividends paid
669
2,350
2,242
-71.5%
Dividend per share
$0.38
$1.52
$1.52
-75.0%
Diluted shares, weighted
1,442m
1,439m
1,431m
+0.2%
Shares outstanding at period end
1,400m
1,400m
1,400m
0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
45,030
41,792
38,860
+7.7%
Non-controlling interest
4,647
4,165
3,917
+11.6%
Redeemable equity
0.0
0.0
n/a
Debt
110,024
103,951
106,148
+5.8%
Operating lease liabilities
969
1,010
0.0
-4.1%
Other liabilities
74,524
77,119
78,414
-3.4%
Total liabilities and equity
235,194
228,037
227,339
+3.1%
Fixed assets
37,632
38,750
38,758
-2.9%
Goodwill
1,900
1,900
1,900
0.0%
Intangible assets
3,320
3,478
3,718
-4.5%
Investments
9,046
4,174
5,966
+116.7%
Cash and equivalents
19,992
19,069
20,844
+4.8%
Receivables
8,035
6,797
n/a
+18.2%
Inventory
10,235
10,398
9,816
-1.6%
Other assets
145,034
143,471
146,337
+1.1%
Total assets
235,194
228,037
227,339
+3.1%
10-K for the year ended 31 December 2020, filed 10 February 2021: the filing.