General Motors Co (GM)

Price$82.63Cached quoteAs of 2026-09-25 23:26 UTC

AI: Undervalued

Price checkThe current price looks low unless GM’s recent profit improvement fades sharply.

GM’s investor page showed $89.35 per share, valuing 877 million outstanding shares at roughly $78.4 billion. Management’s 2026 adjusted earnings guidance of $12–$14 per share puts the price at 6.4–7.4 times earnings, or 6.9 times the midpoint. Forecast adjusted automotive free cash flow—cash left after vehicle operations and investment—is $9.5–$11.5 billion, equal to 12%–15% of the market value. Adjustments and cyclicality warrant caution, but these figures support an Undervalued verdict.

Big pictureCash generation remains healthy, but reported profits have been unusually volatile.

Automotive revenue slipped 2% from $171.6 billion in 2024 to $168.0 billion in 2025. Operating income fell from $12.8 billion to $2.9 billion, while net income dropped from $6.0 billion to $2.7 billion, partly reflecting major restructuring charges. Yet operating cash flow less capital spending produced $17.6 billion of combined cash in 2025, although the financing business makes that figure imperfect. First-half 2026 adjusted automotive free cash flow reached $6.3 billion, suggesting underlying cash production remained stronger than reported earnings.

Business strengthCash reserves and fewer shares help owners, though the lending arm carries heavy debt.

At June 2026, GM held $20.1 billion of cash, and current assets exceeded current liabilities by $13.2 billion. Consolidated debt is large, but the filing separates about $111.7 billion at GM Financial from roughly $16.0 billion of automotive debt; finance debt supports customer loans and leases, though defaults could rise in a downturn. Shares fell from 1.2 billion at year-end 2023 to 877 million, nearly 27%. GM spent $24.2 billion on buybacks during 2023–2025 and another $2.8 billion in early 2026, with little dilution from employee awards.

What could change the storyTruck profits and lower electric-vehicle losses offer upside, while trade costs threaten the discount.

The bull case requires North American adjusted margins near the recent 8.6%, at least $9.5 billion of 2026 adjusted automotive free cash flow, and the promised $1.0–$1.5 billion reduction in electric-vehicle losses. At $13 of adjusted earnings, even nine times earnings implies about $117 per share. The bear case is weaker demand for GM’s roughly $52,000 average U.S. vehicle alongside tariffs and relocation costs. If durable earnings fall below about $8 per share, the current price exceeds eleven times earnings and the apparent bargain largely disappears.

AI: News

Guidance Raised AgainStronger truck profits prompted GM to raise its full-year outlook for the second time.

On July 21, GM reported $48.0 billion of quarterly revenue, $1.3 billion of net income and $3.94 billion of adjusted operating profit, which rose 30% from a year earlier. Adjusted earnings of $3.57 per share exceeded the $3.20 analyst estimate reported by Reuters. GM raised 2026 adjusted operating-profit guidance to $14–$16 billion and adjusted automotive free cash flow to $9.5–$11.5 billion. Reuters reported shares up about 4% that morning; other market influences cannot be excluded.

Electric Vehicle ResetLarge electric-vehicle charges hurt reported profit, but management expects future losses to shrink.

On July 21, GM disclosed $2.3 billion of second-quarter charges related to its electric-vehicle pullback, taking cumulative charges since the second quarter of 2025 to $10.9 billion. Management expects electric-vehicle operating losses to improve by $1.0–$1.5 billion during 2026 and said the related cash charges were complete. The immediate charges explain part of the gap between reported and adjusted earnings; achieving the forecast loss reduction would improve future cash generation. A separate stock reaction cannot be isolated from the broader earnings release.

Truck Demand HoldsOverall U.S. sales fell, but profitable pickups and large sport utility vehicles remained strong.

GM reported on July 1 that second-quarter U.S. deliveries totaled 714,896 vehicles, down 4% because of a smaller electric-vehicle market, discontinued models and inventory limits. GM nevertheless remained the country’s largest seller and led full-size pickup and large sport utility vehicle sales. Reuters later reported an average U.S. selling price near $52,000. This favorable mix supported North America’s 8.6% adjusted margin, but also increases exposure to weakening consumer affordability. No reliable isolated same-day share reaction was reported.

Trade Pact UncertaintyUnsettled North American trade rules could raise production costs and force more factory relocation.

On July 23, U.S. and Mexican officials scheduled further September talks after disagreeing over proposed automotive-content rules. Washington sought 50% U.S.-made content, while existing rules require 75% North American content. Current tariffs include 25% on Mexican and Canadian vehicles and 50% on steel and aluminum. GM is moving some production to the United States and estimated $1.0–$1.5 billion of additional relocation and software costs. These expenses can absorb truck profits; no GM-specific market reaction was reliably separable.

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Financial statements

	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Revenue	$167.97B	$171.61B	$157.66B	$143.97B	$113.59B	$108.67B	$122.70B	$133.04B	$145.59B	$149.18B	$135.72B	$155.93B	$155.43B	$152.26B	$150.28B	$135.59B
Gross profit	$11.60B	$23.41B	$19.14B	$20.98B	$13.05B	$11.13B	$12.05B	$12.39B	$29.36B	$27.40B	$22.73B	$17.85B	$20.50B	$12.02B	$19.89B	$16.82B
Gross margin	6.90%	13.64%	12.14%	14.57%	11.49%	10.25%	9.82%	9.31%	20.17%	18.37%	16.75%	11.45%	13.19%	7.89%	13.24%	12.41%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—	$7.20B	$7.40B	$8.10B	$6.96B
Operating expenses	$182.11B	$174.66B	$162.54B	$146.42B	$117.68B	$115.85B	$6.57B	$142.60B	$136.93B	$140.50B	$130.19B	$154.40B	$150.30B	$182.62B	$144.62B	$130.48B
Operating income	$2.91B	$12.78B	$9.30B	$10.31B	$9.32B	$6.63B	$5.48B	$4.45B	$8.66B	$8.69B	$5.54B	$1.53B	$5.13B	−$30.36B	$5.66B	$5.11B
Operating margin	1.73%	7.45%	5.90%	7.16%	8.21%	6.10%	4.47%	3.34%	5.95%	5.82%	4.08%	0.98%	3.30%	−19.94%	3.76%	3.77%
EBITDA	$14.89B	$24.24B	$21.04B	$21.59B	$21.37B	$19.31B	$19.54B	$17.59B	$20.63B	$18.37B	$12.29B	—	—	—	—	—
EBITDA margin	8.86%	14.13%	13.34%	15.00%	18.81%	17.77%	15.93%	13.22%	14.17%	12.31%	9.06%	—	—	—	—	—
Net income	$2.70B	$6.01B	$10.13B	$9.93B	$10.02B	$6.43B	$6.73B	$8.01B	−$3.86B	$9.43B	$9.69B	$3.95B	$5.35B	$6.19B	$9.19B	$6.17B
Net profit margin	1.61%	3.50%	6.42%	6.90%	8.82%	5.91%	5.49%	6.02%	−2.65%	6.32%	7.14%	2.53%	3.44%	4.06%	6.12%	4.55%
Basic EPSper basic share	$3.33	$6.45	$7.35	$6.17	$6.78	$4.36	$4.62	$5.61	-$2.65	$6.12	$6.11	$1.75	$2.71	$3.10	$4.94	—
Diluted EPSper diluted share	$3.27	$6.37	$7.32	$6.13	$6.70	$4.33	$4.57	$5.53	-$2.60	$6.00	$5.91	$1.65	$2.38	$2.92	$4.58	—

Review official source filings ↗

Owners

Reported shareholders

Reference date Jun 30, 2026

8.82%of listed shares

BlackRock, Inc.77.31M shares · Jun 30, 2026

View holders

Top 20 reported holders of GM
Holder	% owned
BlackRock, Inc.	8.82%77.31M shares
VANGUARD CAPITAL MANAGEMENT LLC	6.72%58.89M shares
STATE STREET CORP	5.07%44.44M shares
VANGUARD PORTFOLIO MANAGEMENT LLC	4.33%37.94M shares
FRANKLIN RESOURCES INC	3.57%31.3M shares
GEODE CAPITAL MANAGEMENT, LLC	2.49%21.81M shares
FMR LLC	2.18%19.13M shares
Capital World Investors	2.11%18.51M shares
D. E. Shaw & Co., Inc.	1.71%15M shares
DIMENSIONAL FUND ADVISORS LP	1.61%14.1M shares
MORGAN STANLEY	1.60%14.02M shares
AQR CAPITAL MANAGEMENT LLC	1.59%13.98M shares
NORGES BANK	1.51%13.21M shares
HARRIS ASSOCIATES L P	1.50%13.2M shares
Invesco Ltd.	1.30%11.38M shares
NORTHERN TRUST CORP	1.02%8.98M shares
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	0.98%8.56M shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	0.94%8.24M shares
BANK OF AMERICA CORP /DE/	0.93%8.17M shares
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC	0.89%7.8M shares

Percentages use 877M shares of this listed class outstanding on Jun 30, 2026.

Gray completes the 100% scale. Reported positions may overlap; holders have different reporting dates.

Source: SEC Form 13F ↗Updated Sep 29, 2026 · Quarterly data

Insider buys & sells

Jul 1, 2024–Jun 30, 2026

Buys2$1.71M disclosed value

Sells (SEC code S)65$310.17M disclosed value

Transaction	Insider	Type	Shares	Price	Value	Owned after
Jun 16, 2026Form 4 · 10b5-1	Barra Mary TChair & CEO	SellCommon Stock	8.9K	$85.10	$757.0K	592.2K
Jun 16, 2026Form 4 · 10b5-1	Barra Mary TChair & CEO	SellCommon Stock	83.5K	$85.10	$7.10M	592.2K
Jun 16, 2026Form 4 · 10b5-1	Barra Mary TChair & CEO	SellCommon Stock	6.9K	$85.10	$584.4K	592.2K
Jun 9, 2026Form 4 · 10b5-1	Barra Mary TChair & CEO	SellCommon Stock	20.6K	$85.00	$1.75M	592.2K
May 29, 2026Form 4 · 10b5-1	Barra Mary TChair & CEO	SellCommon Stock	23.0K	$85.00	$1.96M	592.2K

Review ownership filings at SEC.gov ↗

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General Motors Co (GM)

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