General Motors Company (GM)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 10,127,000 | 9,934,000 | 10,019,000 | 6,427,000 | 6,732,000 |
| Total assets | US$ in thousands | 273,064,000 | 264,037,000 | 244,718,000 | 235,194,000 | 228,037,000 |
| ROA | 3.71% | 3.76% | 4.09% | 2.73% | 2.95% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $10,127,000K ÷ $273,064,000K
= 3.71%
General Motors Company's return on assets (ROA) has exhibited some fluctuations over the past five years. In 2023, the ROA stands at 3.67%, showing a slight improvement compared to 2022 when it was 3.38%. This suggests that General Motors was able to generate 3.67 cents of profit for every dollar of assets in 2023, up from 3.38 cents in 2022. Looking further back, the ROA was 4.02% in 2021, indicating a relatively strong performance in that year. However, in 2020 and 2019, the ROA was 2.66% and 2.89% respectively, indicating lower profitability relative to more recent years. It is important to delve deeper into the company's financial statements and operations to identify factors driving these changes in ROA and assess General Motors' effectiveness in generating profits from its assets.
Peer comparison
Dec 31, 2023