General Motors (GM) FY2023 results: revenue $171.8 billion, up 9.6% on the year
General Motors Co. (GM) reported revenue of $171.8 billion for fiscal 2023, the year ended 31 December 2023, up 9.6% on the year before. Net income was $10.1 billion, up 1.9%, and diluted earnings per share $7.32. The figures are the company's own, from the 10-K it filed with the SEC on 30 January 2024.
Revenue
$171.8 billion
+9.6% on the year
FY2016FY2023
Operating margin
5.4%
6.6% a year earlier
FY2016FY2023
Net income
$10.1 billion
+1.9% on the year
FY2016FY2023
Diluted EPS
$7.32
+19.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
20,930
16,043
15,188
+30.5%
Capital expenditure
10,970
9,238
7,509
+18.7%
Free cash flow
9,960
6,805
7,679
+46.4%
Free cash flow margin
5.8%
4.3%
6.0%
Cash from investing
-14,663
-17,882
-16,355
Cash from financing
-6,353
383
1,744
Depreciation and amortisation
11,737
11,276
12,047
+4.1%
Share-based compensation
340
419
391
-18.9%
Buybacks
11,115
2,500
0.0
+344.6%
Dividends paid
597
397
186
+50.4%
Dividend per share
$0.36
$0.18
n/a
+100.0%
Diluted shares, weighted
1,369m
1,454m
1,468m
-5.8%
Shares outstanding at period end
1,200m
1,400m
1,500m
-14.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
64,286
67,792
59,744
-5.2%
Non-controlling interest
3,903
4,135
6,071
-5.6%
Redeemable equity
118
357
0.0
-66.9%
Debt
123,494
116,217
109,867
+6.3%
Operating lease liabilities
907
967
1,012
-6.2%
Other liabilities
80,356
74,569
68,024
+7.8%
Total liabilities and equity
273,064
264,037
244,718
+3.4%
Fixed assets
n/a
45,248
41,115
Goodwill
1,900
1,900
1,900
0.0%
Intangible assets
2,941
3,034
3,173
-3.1%
Investments
7,613
12,150
8,609
-37.3%
Cash and equivalents
18,853
19,153
20,067
-1.6%
Receivables
12,378
13,333
7,394
-7.2%
Inventory
16,461
15,366
12,988
+7.1%
Other assets
212,918
153,853
149,472
+38.4%
Total assets
273,064
264,037
244,718
+3.4%
10-K for the year ended 31 December 2023, filed 30 January 2024: the filing.