# Ford Motor Company (F) — Financial Analysis

**Exchange:** NYSE  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-13  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/F/thesis · /stocks/F/memo

## Financial Snapshot

---
ticker: F
step: 04
generated: 2026-05-12
source: quick-research
---

### Ford Motor Company (F) — Financial Snapshot

#### Income Statement Summary

| Metric | FY2022 | FY2023 | FY2024 | YoY |
|--------|--------|--------|--------|-----|
| Revenue | ~$158B | $176.2B | $185.0B | +5% |
| Gross Margin | ~10% | ~10% | ~10% | |
| EBIT (adjusted) | ~$9.3B | ~$10.4B | $10.2B | -2% |
| Net Income | ~$1.7B | ~$4.3B | $5.9B | +35% |
| EPS (diluted) | ~$0.42 | $1.09 | $1.48 | +36% |

*Note: Net income in FY2022 was depressed by investment losses. Ford Pro EBIT margin exceeds 11%; Model e generated ~$5.1B loss in FY2024.*

#### Cash Flow & Balance Sheet (FY2024)

| Metric | Value |
|--------|-------|
| Operating Cash Flow | ~$7.5B |
| Free Cash Flow (adj.) | ~$6.7B |
| Cash & Equivalents | ~$25B |
| Total Debt (incl. Ford Credit) | ~$100B+ |

*Note: Ford Credit's ~$80B+ debt is financing-specific and offset by corresponding receivables; automotive net cash position is meaningfully positive.*

#### Key Ratios (approximate)
- P/E: ~8–10x | EV/EBITDA: ~5–6x | Dividend Yield: ~6–7%
- Revenue Growth (FY2024): +5% | Net Margin: ~3% | FCF Yield: ~13–15%

#### Growth Profile
Ford's revenue has grown steadily, but EBIT is under significant pressure in 2025 as tariffs ($2.5B gross impact) and EV losses ($5–5.5B) constrain profitability. FY2025 adjusted EBIT guidance was reduced to $7–8.5B (from $10.2B in FY2024) following tariff uncertainty, and the company suspended annual guidance mid-year. Ford Pro remains the growth engine, with 11%+ EBIT margins and software subscriptions (818K paid) growing rapidly.

#### Forward Estimates
- **FY2026**: Adjusted EBIT guided at $8–10B; adj. FCF $5–6B — recovery contingent on tariff resolution and EV loss trajectory narrowing
- **Model e**: Losses expected to persist at ~$5B+ annually until affordable EV platform launches in 2027

## Deeper Financial Analysis

The fundamental tier ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/F/fundamental

## Navigation

- Overview: /stocks/F
- Financials (this page): /stocks/F/financials
- Thesis: /stocks/F/thesis
- Investment Memo: /stocks/F/memo
- Coverage universe: /stocks