$TSLA First, the financial bit. Investors give General Motors (ticker: GM) little credit for the huge amount of cash it generates. Conventional wisdom holds that GM’s cash flow will be volatile, dropping dramatically when car sales fall. But that hasn’t been the case since the financial crisis, when the reborn company emerged from its Over the past nine years, the auto maker’s free cash flow has averaged about $5.4 billion (see chart). For 2020, it forecast almost $7 billion of free cash flow when reporting earnings on Feb. 5. At that level, GM stock, trading at $33.57, would have a free-cash-flow yield of almost 14%. The S&P 500 index’s free-cash-flow yield is about 3.7%. The Dow Jones Industrial Average’s is about 2.5%. Tesla (TSLA)—the second-most-valuable car company on the planet after Toyota Motor (TM)—has a free-cash-flow yield of about 0.8%.