General Motors Company (GM) Income Statement
GM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGM revenue and net income
Where GM's revenue goes
2025Each bar shows an amount and its share of revenue. GM kept 1.5% of revenue as net income.
GM profit margins
GM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −1.3% | +5.7% | +8.6% | +2.0% |
| Gross profit | −38.4% | −13.2% | +0.2% | −2.5% |
| Operating income | −77.2% | −34.4% | −15.2% | −8.3% |
| Net income | −55.1% | −35.2% | −15.9% | −12.0% |
| EPS (diluted) | +0.6% | +11.8% | +16.8% | +7.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GM quarterly EPS vs estimates
General Motors beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 20, 2026 (estimate $3.52).
GM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $185.02B | $187.44B | $171.84B | $156.74B | $127.00B | $122.48B | $137.24B | $147.05B | $145.59B | $149.18B |
| Cost of revenue | $164.92B | $154.84B | $141.33B | $125.95B | $101.23B | $102.61B | $117.83B | $125.15B | $120.06B | $122.27B |
| Gross profit | $20.10B | $32.60B | $30.51B | $30.78B | $25.78B | $19.87B | $19.41B | $21.89B | $25.53B | $26.92B |
| Research & development | $8.50B | $9.20B | $9.90B | $9.80B | $7.90B | $6.20B | $6.80B | $7.80B | $7.30B | $6.60B |
| Sales, general & admin | $8.69B | $10.43B | $10.84B | $9.15B | $6.64B | $5.94B | $8.49B | $7.99B | $8.25B | $8.78B |
| Total operating expenses | $17.19B | $19.82B | $21.21B | $20.47B | $16.45B | $13.24B | $15.29B | $17.01B | $16.76B | $16.65B |
| Operating income | $2.91B | $12.78B | $9.30B | $10.31B | $9.32B | $6.63B | $4.12B | $4.88B | $8.78B | $10.26B |
| Interest income | $854.0M | $967.0M | $269.0M | $1.28B | $3.04B | $1.46B | $429.0M | $335.0M | $290.0M | $185.0M |
| Interest expense | $727.0M | $846.0M | $11.37B | $987.0M | $950.0M | $1.10B | $782.0M | $655.0M | $575.0M | $563.0M |
| Income before taxes | $3.12B | $8.52B | $10.40B | $11.60B | $12.72B | $8.10B | $7.44B | $8.55B | $11.86B | $12.01B |
| Income taxes | $338.0M | $2.56B | $563.0M | $1.89B | $2.77B | $1.77B | $769.0M | $474.0M | $11.53B | $2.74B |
| Net income | $2.70B | $6.01B | $10.02B | $9.93B | $10.02B | $6.43B | $6.73B | $8.08B | $36.0M | $9.43B |
| EBITDA | $18.43B | $21.75B | $9.30B | $23.87B | $25.72B | $19.45B | $18.24B | $18.55B | $21.04B | $20.08B |
| EPS (diluted) | $10.62 | $10.56 | $7.64 | $7.60 | $7.09 | $4.88 | $4.82 | $6.54 | $6.56 | $6.12 |
| Gross margin | 10.9% | 17.4% | 17.8% | 19.6% | 20.3% | 16.2% | 14.1% | 14.9% | 17.5% | 18.0% |
| Operating margin | 1.6% | 6.8% | 5.4% | 6.6% | 7.3% | 5.4% | 3.0% | 3.3% | 6.0% | 6.9% |
| Net margin | 1.5% | 3.2% | 5.8% | 6.3% | 7.9% | 5.2% | 4.9% | 5.5% | 0.0% | 6.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $48.03B | $43.62B | $45.29B | $48.59B | $47.12B | $44.02B | $47.70B | $48.76B | $47.97B | $43.01B | $42.98B | $44.13B |
| Cost of revenue | $44.37B | $38.63B | $46.41B | $45.48B | $42.86B | $38.68B | $42.85B | $42.36B | $41.72B | $37.10B | $39.67B | $38.77B |
| Gross profit | $3.66B | $5.00B | −$1.12B | $3.11B | $4.27B | $5.34B | $4.85B | $6.40B | $6.25B | $5.91B | $3.31B | $5.36B |
| Research & development | — | — | — | — | — | — | $9.20B | — | — | — | $9.90B | — |
| Sales, general & admin | $2.20B | $2.07B | $2.53B | $2.04B | $2.14B | $1.99B | $47.0M | $2.75B | $2.37B | $2.17B | $1.07B | $2.34B |
| Total operating expenses | $2.20B | $2.07B | $2.53B | $2.04B | $2.14B | $1.99B | $3.33B | $2.75B | $2.37B | $2.17B | $2.39B | $2.34B |
| Operating income | $1.46B | $2.93B | −$3.65B | $1.08B | $2.13B | $3.35B | $1.52B | $3.65B | $3.87B | $3.74B | $918.0M | $3.01B |
| Interest income | $223.0M | $307.0M | $297.0M | $475.0M | $366.0M | $310.0M | $211.0M | $394.0M | $60.0M | $302.0M | $110.0M | $453.0M |
| Interest expense | $158.0M | $158.0M | $167.0M | $209.0M | $198.0M | $152.0M | $215.0M | $206.0M | $206.0M | $219.0M | $222.0M | $229.0M |
| Income before taxes | $1.57B | $3.35B | −$4.25B | $1.42B | $2.38B | $3.57B | −$2.56B | $3.72B | $3.64B | $3.71B | $1.14B | $3.46B |
| Income taxes | $214.0M | $642.0M | −$988.0M | $127.0M | $481.0M | $719.0M | $318.0M | $709.0M | $767.0M | $762.0M | −$858.0M | $470.0M |
| Net income | $1.27B | $2.63B | −$3.31B | $1.33B | $1.90B | $2.78B | −$2.96B | $3.06B | $2.93B | $2.98B | $2.10B | $3.06B |
| EBITDA | $3.37B | $3.68B | $419.0M | $5.74B | $5.61B | $6.66B | $891.0M | $6.79B | $7.33B | $6.73B | $4.51B | $6.68B |
| EPS (diluted) | $3.57 | $3.70 | $2.51 | $2.80 | $2.53 | $2.78 | $1.92 | $2.96 | $3.06 | $2.62 | $1.24 | $2.28 |
| Gross margin | 7.6% | 11.5% | −2.5% | 6.4% | 9.1% | 12.1% | 10.2% | 13.1% | 13.0% | 13.7% | 7.7% | 12.1% |
| Operating margin | 3.0% | 6.7% | −8.1% | 2.2% | 4.5% | 7.6% | 3.2% | 7.5% | 8.1% | 8.7% | 2.1% | 6.8% |
| Net margin | 2.7% | 6.0% | −7.3% | 2.7% | 4.0% | 6.3% | −6.2% | 6.3% | 6.1% | 6.9% | 4.9% | 6.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GM's financial statements (latest annual report filed January 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GM financial results
In fiscal year 2025 (ended December 31, 2025), General Motors reported revenue of $185.0 billion, down 1.3% from the year before. It had net income of $2.7 billion (down 55.1%), a net profit margin of 1.5%. Diluted earnings per share came to $10.62. Over five years revenue grew at an average rate of 8.6% a year.
See the GM stock overview for the latest quote and news, or the GM chart for price history and technical indicators.
GM income statement FAQ
What is General Motors's annual revenue?
General Motors reported total revenue of $185.0 billion for fiscal year 2025, which ended on December 31, 2025. That was down 1.3% from $187.4 billion the previous year.
Is General Motors profitable?
Yes. General Motors reported net income of $2.7 billion in fiscal 2025, a net profit margin of 1.5%; its operating margin was 1.6%.
What is General Motors's gross margin?
General Motors's gross margin was 10.9% in fiscal 2025: for every $100 of revenue, General Motors kept $11 after the direct cost of its products and services.
How much does General Motors spend on research and development?
General Motors spent $8.5 billion on research and development in fiscal 2025, 4.6% of revenue.
How fast is General Motors growing?
Revenue grew 8.6% a year on average over the last five fiscal years, from $122.5 billion to $185.0 billion.
What are General Motors's earnings per share?
General Motors earned $10.62 per diluted share in fiscal 2025, compared with $10.56 a year earlier.
When will General Motors report its next earnings?
General Motors is expected to report results for the quarter ending September 30, 2026 on October 20, 2026 before the market opens.
When does General Motors's fiscal year end?
General Motors's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on January 27, 2026.