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Ford Motor Company develops, delivers, and services Ford trucks, sport utility vehicles, commercial vans and cars, and Lincoln luxury vehicles in the United States, Canada, the United Kingdom, Mexico, and internationally. It operates through Ford Blue, Ford Model e, Ford Pro, and Ford Credit segments. The company sells Ford and Lincoln internal combustion engine and hybrid vehicles, electric vehicles, service parts, accessories, and digital services for retail customers; develops EV and digital vehicle technologies, and software; and provides telematics and EV charging solutions. It also sells Ford and Lincoln vehicles, service parts, and accessories through distributors and dealers, as well as through dealerships to commercial fleet customers, daily rental car companies, and governments. In addition, it engages in vehicle-related financing and leasing activities to and through automotive dealers. Further, the company provides retail installment sale contracts for new and used vehicles; and direct financing leases for new vehicles to retail and commercial customers, such as leasing companies, government entities, daily rental companies, and fleet customers. Additionally, it offers wholesale loans to dealers to finance the purchase of vehicle inventory; and loans to dealers to finance working capital and enhance dealership facilities, purchase dealership real estate, and other dealer vehicle programs. Ford Motor Company was incorporated in 1903 and is based in Dearborn, Michigan.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $187.3B | $3.6B | $-8.2B | $12.5B | -22.8% | 1.2% | -239.2% |
| 2024 | $185.0B | $14.2B | $5.9B | $6.7B | 13.1% | 5.0% | 35.2% |
| 2023 | $176.2B | $11.8B | $4.3B | $6.7B | 10.2% | 11.5% | -319.4% |
| 2022 | $158.1B | $4.8B | $-2.0B | $-13M | -4.6% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 158,057 | 176,191 | 184,992 | 187,267 |
| Operating Revenue | - | 158,057 | 176,191 | 184,992 | 187,267 |
| Cost Of Revenue | - | 140,893 | 160,031 | 169,486 | 185,587 |
| Gross Profit | - | 17,164 | 16,160 | 15,506 | 1,680 |
| Operating Expense | - | 10,888 | 10,702 | 10,287 | 10,849 |
| Selling General And Administration | - | 10,888 | 10,702 | 10,287 | 10,849 |
| Total Expenses | - | 151,781 | 170,733 | 179,773 | 196,436 |
| Operating Income | - | 6,276 | 5,458 | 5,219 | -9,169 |
| Total Operating Income As Reported | - | 6,276 | 5,458 | 5,219 | -9,169 |
| EBITDA | - | 4,759 | 11,808 | 14,236 | 3,638 |
| Normalized EBITDA | - | 12,277 | 12,013 | 14,278 | 3,292 |
| EBIT | - | -1,734 | 5,285 | 8,369 | -10,497 |
| Interest Income | - | 639 | 1,567 | 1,540 | 1,490 |
| Interest Expense | - | 1,282 | 1,318 | 1,136 | 1,333 |
| Net Interest Income | - | -643 | 249 | 404 | 157 |
| Other Non Operating Income Expenses | - | 1,899 | -1,958 | 896 | -20 |
| Other Income Expense | - | -8,649 | -1,740 | 1,610 | -2,818 |
| Interest Income Non Operating | - | 639 | 1,567 | 1,540 | 1,490 |
| Interest Expense Non Operating | - | 1,282 | 1,318 | 1,136 | 1,333 |
| Net Non Operating Interest Income Expense | - | -643 | 249 | 404 | 157 |
| Pretax Income | - | -3,016 | 3,967 | 7,233 | -11,830 |
| Tax Provision | - | -864 | -362 | 1,339 | -3,668 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -2,150.15 | -43.05 | -7.77 | 107.26 |
| Net Income Continuous Operations | - | -2,152 | 4,329 | 5,894 | -8,162 |
| Net Income From Continuing And Discontinued Operation | - | -1,981 | 4,347 | 5,879 | -8,182 |
| Net Income From Continuing Operation Net Minority Interest | - | -1,981 | 4,347 | 5,879 | -8,182 |
| Net Income | - | -1,981 | 4,347 | 5,879 | -8,182 |
| Net Income Common Stockholders | - | -1,981 | 4,347 | 5,879 | -8,182 |
| Net Income Including Noncontrolling Interests | - | -2,152 | 4,329 | 5,894 | -8,162 |
| Normalized Income | - | 3,386.85 | 4,508.95 | 5,913.23 | -8,420.74 |
| Diluted NI Availto Com Stockholders | - | -1,981 | 4,347 | 5,879 | -8,182 |
| Basic Average Shares | - | 4,014 | 3,998 | 3,978 | 3,979 |
| Diluted Average Shares | - | 4,014 | 4,041 | 4,021 | 3,979 |
| Reconciled Depreciation | - | 6,493 | 6,523 | 5,867 | 14,135 |
| Reconciled Cost Of Revenue | - | 140,893 | 160,031 | 169,486 | 185,587 |
| Total Unusual Items | - | -7,518 | -205 | -42 | 346 |
| Total Unusual Items Excluding Goodwill | - | -7,518 | -205 | -42 | 346 |
| Minority Interests | - | 171 | 18 | -15 | -20 |
| Special Income Charges | -1,702 | -121 | 0 | - | - |
| Other Special Charges | 1,702 | 121 | - | - | - |
| Gain On Sale Of Security | - | -7,518 | -205 | -42 | 346 |
| Earnings From Equity Interest | - | -3,030 | 423 | 756 | -3,144 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Ford Motor Companythis co. | F | $61.1B | -7.47 | 1.70 | -22.8% | 55.94 |
| General Motors Company | GM | $75.0B | 23.60 | 1.23 | 5.2% | 9.69 |
| Ross Stores, Inc. | ROST | $74.8B | 34.85 | 12.08 | 34.7% | 22.24 |
| O'Reilly Automotive, Inc. | ORLY | $73.3B | 28.86 | - | -332.5% | 20.46 |
| Carvana Co. | CVNA | $72.6B | 51.60 |
| - |
| - |
| - |
| - |
| - |
| 21.10 |
| 40.9% |
| -689.03 |
| DoorDash, Inc. | DASH | $69.7B | 74.59 | 6.95 | 9.3% | 46.64 |
| NIKE, Inc. | NKE | $64.6B | 20.07 | 4.89 | 24.4% | 15.11 |
| AutoZone, Inc. | AZO | $50.4B | 20.19 | -14.78 | -73.2% | 14.75 |
| eBay Inc. | EBAY | $48.5B | 23.86 | 10.50 | 44.0% | 17.81 |
| Peer Median | - | 26.36 | 6.95 | 16.8% | 16.46 | |