General Motors Co
GMdata completeness 88%16 fiscal years on fileData notes: no data for concept 'totalDebt'
General Motors Co earns about 17% on invested capital, comfortably above its ~9% cost of capital, and has bought back 34% of its shares over 5 years — the marks of a durable business run for its owners. The estimate methods put fair value between $105.8 and $289.57 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $113.6B1 | $144B2 | $157.7B3 | $171.6B3 | $168B3 |
| Net income | $10B4 | $9.93B5 | $10.1B6 | $6.01B6 | $2.7B6 |
| Operating cash flow | $15.2B7 | $16B8 | $20.9B9 | $20.1B9 | $26.9B9 |
| Capital expenditure | $7.51B10 | $9.24B11 | $11B12 | $10.8B12 | $9.3B12 |
| Free cash flow (derived) | $7.68B7 | $6.81B8 | $9.96B9 | $9.3B9 | $17.6B9 |
| Total debt | — | — | — | — | — |
| Cash & equivalents | $20.1B13 | $19.2B14 | $18.9B15 | $19.9B16 | $20.9B16 |
| Diluted shares | 1.47B | 1.45B | 1.37B | 1.13B | 973.0M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $628.15 of net worth that earned you $27.72 and generated $180.51 of cash last year.
It earned about 17% on invested capital against a ~9% cost of capital — comfortably above the cost of funding, a moderate advantage.
seeing a moat in the numbers →Share count is down 34% over 5 years — management has been buying back stock, quietly handing owners a bigger slice.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $105.8 and $289.57 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth9.1%
- fcfBase$9.96B
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth9.1%
- fcfBase$9.96B
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$9.93B
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $167.78 |
| Base | 9.1% | $236.97 |
| Bull | 14.1% | $285.71 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 9.1%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 10-K · period ending 2021-12-31 · accession 0001467858-24-000031 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2022-12-31 · accession 0001467858-25-000032 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-12-31 · accession 0001467858-26-000013 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2021-12-31 · accession 0001467858-24-000031 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001467858-25-000032 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001467858-26-000013 (NetIncomeLoss)
- 10-K · period ending 2021-12-31 · accession 0001467858-24-000031 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001467858-25-000032 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001467858-26-000013 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-31 · accession 0001467858-24-000031 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001467858-25-000032 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001467858-26-000013 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2021-12-31 · accession 0001467858-23-000029 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2022-12-31 · accession 0001467858-24-000031 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-12-31 · accession 0001467858-25-000032 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-12-31 · accession 0001467858-26-000013 (CashAndCashEquivalentsAtCarryingValue)