Goodyear Tire & Rubber (GT) FY2024 results: revenue $18.9 billion, down 5.9% on the year

Goodyear Tire & Rubber Co. (GT) reported revenue of $18.9 billion for fiscal 2024, the year ended 31 December 2024, down 5.9% on the year before. Net income was $46 million, and diluted earnings per share $0.16. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.

Revenue

$18.9 billion

-5.9% on the year

FY2017FY2024

Operating margin

n/a

FY2017FY2024

Net income

$46 million

FY2017FY2024

Diluted EPS

$0.16

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	18,878	20,066	20,805	-5.9%
Cost of revenue	15,176	16,557	16,953	-8.3%
Gross profit	3,702	3,509	3,852	+5.5%
Gross margin	19.6%	17.5%	18.5%
Research and development	426	461	501	-7.6%
Selling, general and administrative	2,782	2,814	2,798	-1.1%
Interest expense	522	532	451	-1.9%
Pre-tax income	130	-721	399
Income tax	95.0	10.0	190	+850.0%
Effective tax rate	73.1%	n/a	47.6%
Net income	46.0	-729	202
Net margin	0.2%	-3.6%	1.0%
Diluted EPS	$0.16	-$2.56	$0.71

$ million except per share.

Free 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	698	1,032	521	-32.4%
Capital expenditure	1,188	1,050	1,061	+13.1%
Free cash flow	-490	-18.0	-540
Free cash flow margin	-2.6%	-0.1%	-2.6%
Cash from investing	-1,005	-1,035	-914
Cash from financing	225	-333	575
Depreciation and amortisation	1,049	1,001	964	+4.8%
Share-based compensation	23.0	19.0	14.0	+21.1%
Dividends paid	0.0	0.0	0.0
Dividend per share	$0.00	$0.00	$0.00
Diluted shares, weighted	288m	285m	286m	+1.1%
Shares outstanding at period end	285m	284m	283m	+0.4%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	4,681	4,668	5,300	+0.3%
Non-controlling interest	142	169	166	-16.0%
Debt	7,782	7,624	7,890	+2.1%
Operating lease liabilities	804	825	821	-2.5%
Finance lease liabilities	251	258	247	-2.7%
Other liabilities	7,261	8,038	8,007	-9.7%
Total liabilities and equity	20,921	21,582	22,431	-3.1%
Goodwill	756	781	1,014	-3.2%
Intangible assets	805	969	1,004	-16.9%
Cash and equivalents	810	902	1,227	-10.2%
Receivables	2,482	2,731	2,610	-9.1%
Inventory	3,554	3,698	4,571	-3.9%
Other assets	12,514	12,501	12,005	+0.1%
Total assets	20,921	21,582	22,431	-3.1%

10-K for the year ended 31 December 2024, filed 14 February 2025: the filing.