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General Motors Co (WBO:GMOT) Piotroski F-Score

: 5 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

General Motors Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for General Motors Co's Piotroski F-Score or its related term are showing as below:

WBO:GMOT' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 7
Current: 5

During the past 13 years, the highest Piotroski F-Score of General Motors Co was 7. The lowest was 3. And the median was 5.


General Motors Co Piotroski F-Score Historical Data

The historical data trend for General Motors Co's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

General Motors Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 7.00 6.00 5.00

General Motors Co Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 6.00 9.00 7.00 5.00

Competitive Comparison

For the Auto Manufacturers subindustry, General Motors Co's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


General Motors Co Piotroski F-Score Distribution

For the Vehicles & Parts industry and Consumer Cyclical sector, General Motors Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where General Motors Co's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was 2236.93 + 2368.418 + 2870.968 + 1926.617 = €9,403 Mil.
Cash Flow from Operations was 2882.324 + 7006.493 + 6180.452 + 3353.469 = €19,423 Mil.
Revenue was 37345.99 + 41301.481 + 41350.747 + 39411.743 = €159,410 Mil.
Gross Profit was 4787.684 + 4935.281 + 5018.572 + 3034.353 = €17,776 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(249250.928 + 249381.736 + 254593.859 + 263957.585 + 250399.688) / 5 = €253516.7592 Mil.
Total Assets at the begining of this year (Dec22) was €249,251 Mil.
Long-Term Debt & Capital Lease Obligation was €76,735 Mil.
Total Current Assets was €93,184 Mil.
Total Current Liabilities was €86,606 Mil.
Net Income was 2668.612 + 1600.632 + 3338.05 + 1887.056 = €9,494 Mil.

Revenue was 32668.932 + 33828.014 + 42306.88 + 40693.952 = €149,498 Mil.
Gross Profit was 4267.6 + 4170.914 + 5926.68 + 5666.832 = €20,032 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(216575.43 + 228354.736 + 239827.082 + 263134.29 + 249250.928) / 5 = €239428.4932 Mil.
Total Assets at the begining of last year (Dec21) was €216,575 Mil.
Long-Term Debt & Capital Lease Obligation was €72,582 Mil.
Total Current Assets was €94,826 Mil.
Total Current Liabilities was €86,067 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

General Motors Co's current Net Income (TTM) was 9,403. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

General Motors Co's current Cash Flow from Operations (TTM) was 19,423. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=9402.933/249250.928
=0.03772477

ROA (Last Year)=Net Income/Total Assets (Dec21)
=9494.35/216575.43
=0.04383854

General Motors Co's return on assets of this year was 0.03772477. General Motors Co's return on assets of last year was 0.04383854. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

General Motors Co's current Net Income (TTM) was 9,403. General Motors Co's current Cash Flow from Operations (TTM) was 19,423. ==> 19,423 > 9,403 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=76734.56/253516.7592
=0.30268042

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=72582.272/239428.4932
=0.30314801

General Motors Co's gearing of this year was 0.30268042. General Motors Co's gearing of last year was 0.30314801. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=93183.706/86606.065
=1.07594897

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=94825.744/86067.312
=1.10176258

General Motors Co's current ratio of this year was 1.07594897. General Motors Co's current ratio of last year was 1.10176258. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

General Motors Co's number of shares in issue this year was 1306. General Motors Co's number of shares in issue last year was 1424. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=17775.89/159409.961
=0.11151053

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=20032.026/149497.778
=0.13399548

General Motors Co's gross margin of this year was 0.11151053. General Motors Co's gross margin of last year was 0.13399548. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=159409.961/249250.928
=0.63955614

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=149497.778/216575.43
=0.69028042

General Motors Co's asset turnover of this year was 0.63955614. General Motors Co's asset turnover of last year was 0.69028042. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+1+0+1+0+0
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

General Motors Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.

General Motors Co  (WBO:GMOT) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


General Motors Co Piotroski F-Score Related Terms

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General Motors Co (WBO:GMOT) Business Description

Address
300 Renaissance Center, Detroit, MI, USA, 48265-3000
General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under four segments: GM North America, GM International, Cruise, and GM Financial. The United States now has four brands instead of eight under old GM. The company regained its U.S. market share leader crown in 2022, after losing it to Toyota due to the chip shortage in 2021, with share up 170 basis points to 16.4%, a full percentage point ahead of Toyota. GM's Cruise autonomous vehicle arm has previously done driverless geofenced AV robotaxi services in San Francisco and other cities but stopped in late 2023 after an accident. GM owns over 80% of Cruise. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit.

General Motors Co (WBO:GMOT) Headlines

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