GM Financial Reports Full Year and Fourth Quarter 2025 Operating Results

• Full year net income of $2.1 billion; fourth quarter net income of $460 million
• Full year retail loan and operating lease originations of $55.9 billion; $12.6 billion for the fourth quarter
• Earning assets of $126.5 billion at December 31, 2025
• Available liquidity of $35.8 billion at December 31, 2025

FORT WORTH, Texas--(BUSINESS WIRE)--GENERAL MOTORS FINANCIAL COMPANY, INC. (“GM Financial” or the “Company”) announced net income of $460 million for the quarter ended December 31, 2025, compared to $589 million for the quarter ended September 30, 2025, and $215 million for the quarter ended December 31, 2024. Net income for the year ended December 31, 2025 was $2.1 billion, compared to $1.9 billion for the year ended December 31, 2024.

The Company recorded a $320 million impairment charge in the quarter ended December 31, 2024 to write down its SAIC-GMAC equity investment to its fair value. Net income adjusted for this impairment was $535 million for the quarter ended December 31, 2024 and $2.2 billion for the year ended December 31, 2024.

Retail loan originations were $8.4 billion for the quarter ended December 31, 2025, compared to $8.8 billion for the quarter ended September 30, 2025, and $10.6 billion for the quarter ended December 31, 2024. Retail loan originations for the year ended December 31, 2025 were $36.3 billion, compared to $37.0 billion for the year ended December 31, 2024. The outstanding balance of retail finance receivables was $75.4 billion at December 31, 2025, compared to $75.9 billion at September 30, 2025 and $76.1 billion at December 31, 2024.

Operating lease originations were $4.2 billion for the quarter ended December 31, 2025, compared to $5.0 billion for the quarter ended September 30, 2025 and $4.9 billion for the quarter ended December 31, 2024. Operating lease originations for the year ended December 31, 2025 were $19.6 billion, compared to $19.1 billion for the year ended December 31, 2024. Leased vehicles, net was $33.7 billion at December 31, 2025, compared to $33.6 billion at September 30, 2025 and $31.6 billion at December 31, 2024.

The outstanding balance of commercial finance receivables was $17.4 billion at December 31, 2025, compared to $17.1 billion at September 30, 2025 and $19.9 billion at December 31, 2024.

Retail finance receivables 31-60 days delinquent were 2.7% of the portfolio at December 31, 2025 and 2.5% at December 31, 2024. Accounts more than 60 days delinquent were 1.1% of the portfolio at December 31, 2025 and 0.9% at December 31, 2024.

Annualized net charge-offs were 1.5% of average retail finance receivables for the quarter ended December 31, 2025 and 1.3% for the quarter ended December 31, 2024. For the year ended December 31, 2025, retail net charge-offs were 1.3%, compared to 1.2% for the year ended December 31, 2024.

The Company had total available liquidity of $35.8 billion at December 31, 2025, consisting of $5.9 billion of cash, cash equivalents and marketable debt securities, $25.9 billion of borrowing capacity under secured credit facilities, $1.0 billion of borrowing capacity under committed unsecured credit facilities, $1.0 billion of borrowing capacity under the Junior Subordinated Revolving Credit Facility from GM, and $2.0 billion of borrowing capacity under the GM Revolving 364-Day Credit Facility.

About GM Financial

General Motors Financial Company, Inc. is the wholly owned captive finance subsidiary of General Motors Company and is headquartered in Fort Worth, Texas. Additional materials addressing the Company’s results of operations for the quarter and full year ended December 31, 2025 can be accessed via the Investor Relations section of the Company’s website at https://investor.gmfinancial.com.

General Motors Financial Company, Inc.
Condensed Consolidated Statements of Income
(Unaudited, in millions)
	Three Months Ended December 31,					Years Ended December 31,
		2025		2024			2025		2024
Revenue
Finance charge income	$	2,041	$	2,042		$	8,173	$	7,669
Leased vehicle income		1,990		1,866			7,800		7,297
Other income		273		206			1,086		909
Total revenue		4,304		4,114			17,059		15,875
Costs and expenses
Operating expenses		625		387			2,206		1,802
Leased vehicle expenses		1,185		1,067			4,391		4,113
Provision for loan losses		281		353			1,207		1,029
Interest expense		1,606		1,598			6,492		6,030
Total costs and expenses		3,697		3,405			14,296		12,974
Equity income (loss)		2		9			39		64
Impairment of investment in nonconsolidated affiliate		—		(320	)		—		(320	)
Income (loss) before income taxes		609		399			2,802		2,645
Income tax expense (benefit)		149		184			744		784
Net income (loss)		460		215			2,058		1,860
Less: cumulative dividends on preferred stock		30		30			119		119
Net income (loss) attributable to common shareholder	$	430	$	185		$	1,940	$	1,742
Amounts may not add due to rounding.

Condensed Consolidated Balance Sheets
(Unaudited, in millions)
	December 31, 2025		December 31, 2024
ASSETS
Cash and cash equivalents	$	5,826	$	5,094
Finance receivables, net of allowance for loan losses of $2,725 and $2,458		90,045		93,510
Leased vehicles, net		33,686		31,586
Goodwill and intangible assets		1,177		1,169
Equity in net assets of nonconsolidated affiliates		1,117		1,206
Related party receivables		515		473
Other assets		8,110		7,992
Total assets	$	140,477	$	141,030
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Secured debt	$	46,904	$	49,573
Unsecured debt		67,127		64,691
Deferred income		2,494		2,389
Related party payables		136		106
Other liabilities		8,004		9,079
Total liabilities		124,664		125,838
Total shareholders' equity		15,813		15,193
Total liabilities and shareholders' equity	$	140,477	$	141,030
Amounts may not add due to rounding.

Operational and Financial Data
(Unaudited, Dollars in millions)
Amounts may not add due to rounding
	Three Months Ended December 31,				Years Ended December 31,
Reconciliation for Net Income - Adjusted		2025		2024		2025		2024
Net income	$	460	$	215	$	2,802	$	1,860
Adjustment - impairment charge		—		320		—		320
Net income - adjusted	$	460	$	535	$	2,802	$	2,181

	Three Months Ended December 31,				Years Ended December 31,
Originations		2025		2024		2025		2024
Retail finance receivables originations	$	8,404	$	10,637	$	36,314	$	36,960
Lease originations		4,229		4,943		19,567		19,089
Total originations	$	12,633	$	15,580	$	55,881	$	56,049

	Three Months Ended December 31,				Years Ended December 31,
Average Earning Assets		2025		2024		2025		2024
Average retail finance receivables	$	75,610	$	75,318	$	76,717	$	73,917
Average commercial finance receivables		17,334		19,609		17,203		16,704
Average finance receivables		92,944		94,927		93,920		90,621
Average leased vehicles, net		33,662		31,288		32,925		30,641
Average earning assets	$	126,606	$	126,215	$	126,844	$	121,262

Ending Earning Assets	December 31, 2025		December 31, 2024
Retail finance receivables	$	75,404	$	76,066
Commercial finance receivables		17,365		19,901
Leased vehicles, net		33,686		31,586
Ending earning assets	$	126,456	$	127,554

Finance Receivables	December 31, 2025			December 31, 2024
Retail
Retail finance receivables	$	75,404		$	76,066
Less: allowance for loan losses		(2,656	)		(2,400	)
Total retail finance receivables, net		72,748			73,667
Commercial
Commercial finance receivables		17,365			19,901
Less: allowance for loan losses		(68	)		(58	)
Total commercial finance receivables, net		17,297			19,843
Total finance receivables, net	$	90,045		$	93,510

Allowance for Loan Losses	December 31, 2025		December 31, 2024
Allowance for loan losses as a percentage of retail finance receivables	3.5	%	3.2	%
Allowance for loan losses as a percentage of commercial finance receivables	0.4	%	0.3	%

Delinquencies	December 31, 2025		December 31, 2024
Loan delinquency as a percentage of retail finance receivables:
31 - 60 days	2.7	%	2.5	%
Greater than 60 days	1.1		0.9
Total	3.7	%	3.4	%

	Three Months Ended December 31,						Years Ended December 31,
Charge-offs and Recoveries		2025			2024			2025			2024
Charge-offs	$	537		$	499		$	1,998		$	1,754
Less: recoveries		(257	)		(249	)		(1,035	)		(901	)
Net charge-offs	$	280		$	250		$	963		$	853
Net charge-offs as an annualized percentage of average retail finance receivables		1.5	%		1.3	%		1.3	%		1.2	%

	Three Months Ended December 31,				Years Ended December 31,
Operating Expenses	2025		2024		2025		2024
Operating expenses as an annualized percentage of average earning assets	2.0	%	1.2	%	1.7	%	1.5	%