FORD MOTOR CO F
Ford Motor Company was incorporated in Delaware in 1919. We acquired the business of a Michigan company, also known as Ford Motor Company, which had been incorporated in 1903 to produce and sell automobiles designed and engineered by Henry Ford. We are a global company based in Dearborn, Michigan. With about 169,000 employees worldwide, the Company is committed to helping build a better world, where every person is free to move and pursue their dreams. The Company's Ford+ plan for growth and value creation combines existing strengths, new capabilities, and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars, and Lincoln luxury vehicles, along with connected services, including BlueCruise (ADAS) and security. The Company offers freedom of choice through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough electric vehicles ("EVs"), including extended range electric vehicles ("EREVs"), along with embedded software that defines always-on digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, the Company provides financial services through Ford Motor Credit Company LLC ("Ford Credit").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $187.27B | $184.99B | $176.19B | $158.06B | $136.34B | $127.14B | $155.90B | $160.34B | $156.78B | $151.80B |
| Cost of revenue | $174.47B | $158.43B | $150.55B | $134.40B | $114.65B | $112.75B | $134.69B | $136.27B | $131.32B | $126.19B |
| Gross profit | $12.80B | $26.56B | $25.64B | $23.66B | $21.69B | $14.39B | $21.21B | $24.07B | $25.45B | $25.61B |
| R&D | $9.40B | $8.00B | $8.20B | $7.80B | $7.60B | $7.10B | $7.40B | $8.20B | $8.00B | $7.30B |
| SG&A | $10.85B | $10.29B | $10.70B | $10.89B | $11.91B | $10.19B | $11.16B | $11.40B | $11.53B | $10.97B |
| Total operating expenses | $196.44B | $179.77B | $170.73B | $151.78B | $131.82B | $131.55B | $155.33B | $157.13B | $151.90B | $146.01B |
| Operating income | -$9.17B | $5.22B | $5.46B | $6.28B | $4.52B | -$4.41B | $574.0M | $3.20B | $4.88B | — |
| Interest expense | $1.25B | $1.11B | $1.30B | $4.59B | $4.59B | $5.05B | $5.41B | $5.16B | $4.36B | $894.0M |
| Pre-tax income | -$11.83B | $7.23B | $3.97B | -$3.02B | $17.78B | -$1.12B | -$640.0M | $4.34B | $8.16B | $6.78B |
| Income tax | $3.67B | $1.34B | $362.0M | $864.0M | $130.0M | $160.0M | $724.0M | $650.0M | $402.0M | $2.18B |
| Net income | -$8.16B | $5.89B | $4.33B | -$1.98B | $17.94B | -$1.28B | $84.0M | $3.69B | $7.76B | $4.60B |
| EPS, basic | -2.06 | 1.48 | 1.09 | -0.49 | 4.49 | -0.32 | 0.01 | 0.93 | 1.94 | 1.16 |
| EPS, diluted | -2.06 | 1.46 | 1.08 | -0.49 | 4.45 | -0.32 | 0.01 | 0.92 | 1.93 | 1.15 |
| Shares, diluted (wtd. avg.) | $3.98B | $4.02B | $4.04B | $4.01B | $4.03B | $3.97B | $4.00B | $4.00B | $4.00B | $4.00B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $23.36B | $22.93B | $25.11B | $25.34B | $20.74B | $25.93B | $17.74B | $16.91B | $18.64B | $16.02B |
| Short-term investments | $15.13B | $15.41B | $15.31B | $18.94B | $29.05B | $24.72B | $17.15B | $17.23B | $20.43B | $22.92B |
| Receivables | $15.40B | $14.72B | $15.60B | $15.73B | $11.37B | $9.99B | $9.24B | $11.20B | $10.60B | $11.10B |
| Inventory | $15.29B | $14.95B | $15.65B | $14.08B | $12.06B | $10.81B | $10.79B | $11.22B | $11.18B | $8.90B |
| Total current assets | $123.49B | $124.47B | $121.48B | $116.48B | $109.00B | $116.74B | $114.05B | $114.65B | $116.80B | $108.46B |
| Property, plant and equipment | — | $41.93B | $40.82B | $37.27B | $37.14B | $37.08B | $36.47B | $36.18B | $35.33B | $32.07B |
| Goodwill | $483.0M | $658.0M | $683.0M | $603.0M | $619.0M | $258.0M | $278.0M | $264.0M | $75.0M | $50.0M |
| Other intangibles | $170.0M | $69.0M | $80.0M | $86.0M | $111.0M | $144.0M | $188.0M | $178.0M | $213.0M | $198.0M |
| Total assets | $289.16B | $285.20B | $273.31B | $255.88B | $257.04B | $267.26B | $258.54B | $256.54B | $258.50B | $238.51B |
| Accounts payable | $25.81B | $24.13B | $25.99B | $25.61B | $22.35B | $22.20B | $20.67B | $21.52B | $23.28B | $21.30B |
| Total current liabilities | $114.89B | $106.86B | $101.53B | $96.87B | $90.73B | $97.19B | $98.13B | $95.57B | $94.60B | $90.28B |
| Long-term debt | — | — | — | — | — | $291.0M | $470.0M | $600.0M | — | — |
| Total liabilities | $253.18B | $240.34B | $230.51B | $212.72B | $208.41B | $236.45B | $225.31B | $220.47B | $222.79B | $208.67B |
| Retained earnings | $22.51B | $33.74B | $31.03B | $31.75B | $35.77B | $18.24B | $20.32B | $22.67B | $21.91B | $15.63B |
| Total equity | $35.95B | $44.84B | $42.80B | $43.17B | $48.52B | $30.69B | $33.23B | $35.97B | $35.61B | $29.75B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $21.28B | $15.42B | $14.92B | $6.85B | $15.79B | $24.27B | $17.64B | $15.02B | $18.10B | $19.85B |
| Depreciation and amortisation | $15.97B | $7.57B | $7.69B | $7.67B | $7.32B | $8.77B | $10.49B | $9.38B | $9.24B | $2.13B |
| Stock-based compensation | $510.0M | $511.0M | $460.0M | $336.0M | $305.0M | $199.0M | $228.0M | $191.0M | $246.0M | $210.0M |
| Capital expenditure | $8.81B | $8.68B | $8.24B | $6.87B | $6.23B | $5.74B | $7.63B | $7.79B | $7.05B | $6.99B |
| Investing cash flow | -$18.05B | -$24.37B | -$17.63B | -$4.35B | $2.75B | -$18.61B | -$13.72B | -$16.26B | -$19.36B | -$25.30B |
| Financing cash flow | -$3.21B | $7.49B | $2.58B | $2.51B | -$23.50B | $2.31B | -$3.13B | -$122.0M | $3.39B | $7.40B |
| Dividends paid | $2.99B | $3.12B | $5.00B | $2.01B | $403.0M | $596.0M | $2.39B | $2.90B | $2.58B | $3.38B |
| Buybacks | $0 | $426.0M | $335.0M | $484.0M | $0 | $0 | $237.0M | $164.0M | $131.0M | $145.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000037996-26-000015.
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