A Business at a Glance
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FORD MOTOR CO
F
$57.1B
Mkt Cap
$14.37
+1.55%
FORD MOTOR CO (F) has a 5-year average return on invested capital (ROIC) of 11.5%. This indicates solid capital allocation.
FORD MOTOR CO (F) has a market capitalization of $58.5B. It is classified as a large-cap stock.
Yes, FORD MOTOR CO (F) pays a dividend with a trailing twelve-month yield of 4.10%. The company also returns capital through share buybacks, with a buyback yield of 0.53%.
FORD MOTOR CO (F) operates in the Motor Vehicles & Passenger Car Bodies industry, within the Consumer Cyclical sector.
FORD MOTOR CO (F) reported annual revenue of $187.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
FORD MOTOR CO (F) has a net profit margin of -4.4%. The company is currently unprofitable.
FORD MOTOR CO (F) generated $12.5 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Ford Motor Company is a global automotive manufacturer based in Dearborn, Michigan, with approximately 169,000 employees worldwide that designs, develops, and sells vehicles through three customer-centered business segments: Ford Blue (internal combustion engine and hybrid vehicles for retail customers), Ford Model e (electric vehicles and extended-range electric vehicles with embedded software and digital experiences), and Ford Pro (vehicles and services tailored for commercial, government, and rental customers). The company generates revenue primarily through wholesale sales of vehicles to independently owned dealerships, which then sell to retail and fleet customers, supplemented by service parts, accessories, digital services, and financial services through Ford Motor Credit Company. Ford's business model relies on high-volume production with relatively fixed structural costs, making profitability highly sensitive to wholesale unit volumes, vehicle mix, net pricing, and component costs; the company sold approximately 4.4 million vehicles at wholesale in 2025 across its Ford and Lincoln brands distributed through approximately 8,226 dealerships worldwide. The company's competitive position depends on product appeal based on price, quality, styling, reliability, safety, fuel efficiency, functionality, and sustainability, as well as the timing of new model introductions and its ability to satisfy evolving consumer preferences for vehicle types and digital services. Ford faces a highly competitive global automotive industry with excess capacity and a history of price discounting, while also managing exposure to raw material costs (including battery materials like lithium, cobalt, and nickel), supplier disruptions, and macroeconomic factors affecting consumer and business vehicle purchasing decisions.
【Service revenue growth acceleration】 Management expects the company's approximately $15 billion in digital and aftermarket service revenue to grow at nearly 8% annually through the end of the decade, driven by offering customers indispensable digital experiences, expanding the parts catalog, and enhancing the service network. The company is advancing its Ford Model e electric vehicle platform with over 20 gigawatt-hours of battery capacity expected to come online starting in the fourth quarter of next year, primarily from Kentucky and Marshall facilities, while actively contracting customers for that capacity. Ford Pro continues to demonstrate strong commercial momentum with high-paid subscriber growth and successful partnerships, including a relationship with Volkswagen on pickup and van platforms in Europe. The company expects to maintain retail inventory within its target of 55–65 days supply for the year, with F-Series sales remaining healthy as inventory recovers from prior supply disruptions.
| Metric | Target | Period |
|---|---|---|
| Adjusted EBIT | $8.5 billion–$10.5 billion | FY2026 |
| Adjusted free cash flow | $5 billion–$6 billion | FY2026 |
| Capital expenditures | $9.5 billion–$10.5 billion | FY2026 |
| Ford Pro EBIT | $6.5 billion–$7.5 billion | FY2026 |
| Ford Model e EBIT | –$4 billion to –$4.5 billion | FY2026 |
| Ford Credit EBT | ~$2.5 billion | FY2026 |
| Ford Blue EBIT | $4.5 billion–$5 billion | FY2026 |
| U.S. industry sales assumption (SAR) | 16 million–16.5 million units | FY2026 |
| Commodity headwinds | Just above $2 billion | FY2026 |
| Novelis recovery EBIT improvement | $1 billion | FY2026 |
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q1 FY2021 Earnings Call, Q4 FY2020 Earnings Call, Q3 FY2020 Earnings Call
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Revenues from sales and services | $126.14B | $148.98B | $165.83B | $172.60B | $173.75B | 48% |
Vehicles, parts, and accessories | $120.97B | $144.47B | $161.05B | $167.22B | $167.31B | 46% |
Financing income | $4.56B | $4.25B | $5.98B | $7.82B | $8.21B | 2% |
Leasing income | $5.58B | $4.77B | $4.28B | $4.43B | $5.14B | 1% |
Services and other revenue | — | — | $2.90B | $3.20B | $3.59B | 1% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 189.9B | 187.3B | 185.0B | 176.2B | 158.1B | 136.3B |
| Net Income | -6.1B | -8.2B | 5.9B | 4.3B | -2.0B | 17.9B |
| EPS | $-1.56 | $-2.06 | $1.46 | $1.08 | $-0.49 | $4.45 |
| Free Cash Flow | 9.5B | 12.5B | 6.7B | 6.7B | -13M | 9.6B |
| ROIC | -32.4% | -8.7% | 7.2% | 10.4% | 15.4% | 33.4% |
| Gross Margin | - | 6.8% | 14.4% | 14.6% | 15.0% | 15.9% |
| Debt/Equity | 0.28 | 1.47 | 1.33 | 1.22 | 1.21 | 0.67 |
| Dividends/Share | $0.59 | $0.75 | $0.78 | $1.25 | $0.50 | $0.10 |
| Operating Income | -7.2B | -9.2B | 5.2B | 5.5B | 6.3B | 4.5B |
| Operating Margin | -3.8% | -4.9% | 2.8% | 3.1% | 4.0% | 3.3% |
| ROE | -16.3% | -20.3% | 13.4% | 10.1% | -4.3% | 45.3% |
| Shares Outstanding | 4,071M | 3,972M | 4,027M | 4,025M | 4,043M | 4,031M |
FORD MOTOR CO passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 4.5x vs a median of 3.2x. The company's 5-year average ROIC is 11.5% with a gross margin of 13.3%. Total shareholder yield (dividends + buybacks) is 4.6%. At current prices, the estimated annualized return to fair value is -7.1%.
FORD MOTOR CO (F) has a debt-to-equity ratio of 1.47. This indicates moderate leverage.
FORD MOTOR CO (F) reported earnings per share (EPS) of $-2.06 in its most recent fiscal year.
FORD MOTOR CO (F) has a return on equity (ROE) of -20.3%. A negative ROE may indicate losses or negative equity.
FORD MOTOR CO (F) has a 5-year average gross margin of 13.3%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 19 years of financial data for FORD MOTOR CO (F), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FORD MOTOR CO (F) has a book value per share of $9.05, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects the company's approximately $15 billion in digital and aftermarket service revenue to grow at nearly 8% annually through the end of the decade, driven by offering customers indispensable digital experiences, expanding the parts catalog, and enhancing the service network. The company is advancing its Ford Model e electric vehicle platform with over 20 gigawatt-hours of battery capacity expected to come online starting in the fourth quarter of next year, primarily from Kentucky and Marshall facilities, while actively contracting customers for that capacity. Ford Pro continues to demonstrate strong commercial momentum with high-paid subscriber growth and successful partnerships, including a relationship with Volkswagen on pickup and van platforms in Europe. The company expects to maintain retail inventory within its target of 55–65 days supply for the year, with F-Series sales remaining healthy as inventory recovers from prior supply disruptions.
Based on recent SEC filings and earnings calls, FORD MOTOR CO (F) has provided the following forward guidance: Adjusted EBIT: $8.5 billion–$10.5 billion (FY2026); Adjusted free cash flow: $5 billion–$6 billion (FY2026); Capital expenditures: $9.5 billion–$10.5 billion (FY2026); Ford Pro EBIT: $6.5 billion–$7.5 billion (FY2026); Ford Model e EBIT: –$4 billion to –$4.5 billion (FY2026), plus 8 additional metrics.
| Ford Pro digital and charging revenue |
| $1 billion |
| By 2025 |
| Ford Pro revenue growth | From $27 billion in 2019 to $45 billion in 2025 | 2019–2025 |
| Over-the-air update capable vehicles | 33 million vehicles | By 2028 |
Adjusted EBIT (FY2026): “For the full year, we now expect company-adjusted EBIT of $8.5 billion-$10.5 billion”
Adjusted free cash flow (FY2026): “adjusted free cash flow of $5 billion-$6 billion”
Capital expenditures (FY2026): “CapEx of $9.5 billion-$10.5 billion, which reflects our shift toward higher-return growth opportunities, including $1.5 billion for Ford Energy this year”
Ford Pro EBIT (FY2026): “Ford Pro EBIT of $6.5 billion-$7.5 billion”
Ford Model e EBIT (FY2026): “Ford Model e losses of $4 billion-$4.5 billion”
Ford Credit EBT (FY2026): “Ford Credit EBT of about $2.5 billion”
Ford Blue EBIT (FY2026): “for Ford Blue, we have increased our guidance by $500 million to $4.5 billion-$5 billion”
U.S. industry sales assumption (SAR) (FY2026): “Our guidance continues to assume a U.S. SAR of 16 million-16.5 million units in flat industry pricing”