Stock Analysis on Net

Ford Motor Co. (NYSE:F)

Analysis of Profitability Ratios
Quarterly Data

Microsoft Excel

Profitability Ratios (Summary)

Ford Motor Co., profitability ratios (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Return on Sales
Gross profit margin 8.61% 9.25% 10.30% 10.07% 10.22% 9.85% 9.58% 10.10% 8.41% 9.20% 7.13% 7.30% 5.61% 2.75% 4.11% 2.59% 4.70% 6.23%
Operating profit margin 2.74% 3.29% 4.42% 4.14% 4.52% 4.21% 3.82% 4.54% 2.72% 3.58% 1.08% 1.87% -0.33% -3.80% -2.03% -4.24% -1.59% 0.40%
Net profit margin 2.35% 2.62% 3.75% 2.58% 1.85% -1.33% 6.32% 8.42% 9.26% 14.21% 2.31% 2.72% 3.37% -1.10% -0.14% -1.79% -2.24% 0.03%
Return on Investment
Return on equity (ROE) 9.15% 10.16% 13.92% 9.47% 6.81% -4.58% 21.39% 26.42% 25.71% 36.97% 7.83% 9.87% 11.75% -4.17% -0.49% -6.89% -10.43% 0.14%
Return on assets (ROA) 1.43% 1.59% 2.30% 1.55% 1.12% -0.77% 3.65% 4.75% 4.57% 6.98% 1.13% 1.38% 1.52% -0.48% -0.06% -0.79% -1.17% 0.02%

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Ford Motor Co. gross profit margin ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Ford Motor Co. operating profit margin ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Ford Motor Co. net profit margin ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Ford Motor Co. ROE deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
ROA A profitability ratio calculated as net income divided by total assets. Ford Motor Co. ROA deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Gross Profit Margin

Ford Motor Co., gross profit margin calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Gross profit (loss) 3,414 2,351 3,628 4,956 4,416 3,929 2,851 4,743 3,159 2,912 3,192 1,245 4,268 154 3,504 (1,300) 831 1,874 1,663 2,107 3,303
Company revenues excluding Ford Credit 39,890 43,213 41,176 42,427 39,085 41,745 37,205 37,934 32,195 35,305 33,249 24,149 33,565 33,229 34,727 16,632 31,353 36,686 33,945 35,764 37,245
Profitability Ratio
Gross profit margin1 8.61% 9.25% 10.30% 10.07% 10.22% 9.85% 9.58% 10.10% 8.41% 9.20% 7.13% 7.30% 5.61% 2.75% 4.11% 2.59% 4.70% 6.23%
Benchmarks
Gross Profit Margin, Competitors2
General Motors Co. 10.70% 10.36% 11.96% 12.32% 12.19% 11.87% 10.92% 10.43% 10.71% 11.49% 12.00% 12.88% 11.66% 10.25% 8.37% 7.15% 9.49% 9.82%
Tesla Inc. 17.78% 18.25% 19.81% 21.49% 23.13% 25.60% 26.61% 27.10% 27.10% 25.28% 23.11% 22.04% 21.18% 21.02% 21.14% 19.77% 18.21% 16.56%

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Gross profit margin = 100 × (Gross profit (loss)Q1 2024 + Gross profit (loss)Q4 2023 + Gross profit (loss)Q3 2023 + Gross profit (loss)Q2 2023) ÷ (Company revenues excluding Ford CreditQ1 2024 + Company revenues excluding Ford CreditQ4 2023 + Company revenues excluding Ford CreditQ3 2023 + Company revenues excluding Ford CreditQ2 2023)
= 100 × (3,414 + 2,351 + 3,628 + 4,956) ÷ (39,890 + 43,213 + 41,176 + 42,427) = 8.61%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Ford Motor Co. gross profit margin ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Operating Profit Margin

Ford Motor Co., operating profit margin calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Operating income (loss) 1,225 (245) 1,129 2,461 2,113 1,561 504 2,868 1,343 739 1,342 (22) 2,464 (2,442) 2,351 (2,759) (1,558) (457) (261) 90 1,202
Company revenues excluding Ford Credit 39,890 43,213 41,176 42,427 39,085 41,745 37,205 37,934 32,195 35,305 33,249 24,149 33,565 33,229 34,727 16,632 31,353 36,686 33,945 35,764 37,245
Profitability Ratio
Operating profit margin1 2.74% 3.29% 4.42% 4.14% 4.52% 4.21% 3.82% 4.54% 2.72% 3.58% 1.08% 1.87% -0.33% -3.80% -2.03% -4.24% -1.59% 0.40%
Benchmarks
Operating Profit Margin, Competitors2
General Motors Co. 6.53% 5.90% 6.95% 7.27% 7.24% 7.16% 6.86% 6.27% 7.02% 8.21% 9.01% 10.60% 8.52% 6.10% 3.26% 1.18% 4.06% 4.47%
Tesla Inc. 7.81% 9.19% 11.18% 13.46% 14.78% 16.76% 16.52% 15.91% 15.33% 12.12% 9.57% 7.86% 6.41% 6.32% 6.31% 4.79% 2.83% -0.28%

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Operating profit margin = 100 × (Operating income (loss)Q1 2024 + Operating income (loss)Q4 2023 + Operating income (loss)Q3 2023 + Operating income (loss)Q2 2023) ÷ (Company revenues excluding Ford CreditQ1 2024 + Company revenues excluding Ford CreditQ4 2023 + Company revenues excluding Ford CreditQ3 2023 + Company revenues excluding Ford CreditQ2 2023)
= 100 × (1,225 + -245 + 1,129 + 2,461) ÷ (39,890 + 43,213 + 41,176 + 42,427) = 2.74%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Ford Motor Co. operating profit margin ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Net Profit Margin

Ford Motor Co., net profit margin calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Ford Motor Company 1,332 (526) 1,199 1,917 1,757 1,289 (827) 667 (3,110) 12,282 1,832 561 3,262 (2,788) 2,385 1,117 (1,993) (1,672) 425 148 1,146
Company revenues excluding Ford Credit 39,890 43,213 41,176 42,427 39,085 41,745 37,205 37,934 32,195 35,305 33,249 24,149 33,565 33,229 34,727 16,632 31,353 36,686 33,945 35,764 37,245
Profitability Ratio
Net profit margin1 2.35% 2.62% 3.75% 2.58% 1.85% -1.33% 6.32% 8.42% 9.26% 14.21% 2.31% 2.72% 3.37% -1.10% -0.14% -1.79% -2.24% 0.03%
Benchmarks
Net Profit Margin, Competitors2
General Motors Co. 6.69% 6.42% 6.33% 6.56% 6.35% 6.90% 7.20% 7.37% 8.47% 8.82% 9.48% 10.12% 8.43% 5.91% 3.33% 1.67% 4.04% 5.49%
Tesla Inc. 14.37% 15.50% 11.21% 12.97% 13.66% 15.41% 14.95% 14.17% 13.51% 10.25% 7.40% 5.21% 3.18% 2.29% 1.97% 1.43% -0.55% -3.51%

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
Net profit margin = 100 × (Net income (loss) attributable to Ford Motor CompanyQ1 2024 + Net income (loss) attributable to Ford Motor CompanyQ4 2023 + Net income (loss) attributable to Ford Motor CompanyQ3 2023 + Net income (loss) attributable to Ford Motor CompanyQ2 2023) ÷ (Company revenues excluding Ford CreditQ1 2024 + Company revenues excluding Ford CreditQ4 2023 + Company revenues excluding Ford CreditQ3 2023 + Company revenues excluding Ford CreditQ2 2023)
= 100 × (1,332 + -526 + 1,199 + 1,917) ÷ (39,890 + 43,213 + 41,176 + 42,427) = 2.35%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Ford Motor Co. net profit margin ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Return on Equity (ROE)

Ford Motor Co., ROE calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Ford Motor Company 1,332 (526) 1,199 1,917 1,757 1,289 (827) 667 (3,110) 12,282 1,832 561 3,262 (2,788) 2,385 1,117 (1,993) (1,672) 425 148 1,146
Equity attributable to Ford Motor Company 42,870 42,773 44,263 43,677 42,366 43,242 42,125 44,169 44,985 48,519 36,593 34,664 33,828 30,690 33,125 30,824 29,650 33,185 35,349 36,097 36,398
Profitability Ratio
ROE1 9.15% 10.16% 13.92% 9.47% 6.81% -4.58% 21.39% 26.42% 25.71% 36.97% 7.83% 9.87% 11.75% -4.17% -0.49% -6.89% -10.43% 0.14%
Benchmarks
ROE, Competitors2
General Motors Co. 16.08% 15.75% 13.46% 14.32% 13.44% 14.65% 14.83% 13.75% 16.00% 16.77% 20.54% 24.67% 18.94% 14.27% 7.81% 4.31% 12.14% 16.11%
Tesla Inc. 21.15% 23.94% 20.12% 23.85% 24.45% 28.09% 28.08% 26.16% 24.64% 18.28% 12.82% 8.79% 4.97% 3.24% 3.47% 3.74% -1.57% -13.03%

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
ROE = 100 × (Net income (loss) attributable to Ford Motor CompanyQ1 2024 + Net income (loss) attributable to Ford Motor CompanyQ4 2023 + Net income (loss) attributable to Ford Motor CompanyQ3 2023 + Net income (loss) attributable to Ford Motor CompanyQ2 2023) ÷ Equity attributable to Ford Motor Company
= 100 × (1,332 + -526 + 1,199 + 1,917) ÷ 42,870 = 9.15%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Ford Motor Co. ROE deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Return on Assets (ROA)

Ford Motor Co., ROA calculation (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to Ford Motor Company 1,332 (526) 1,199 1,917 1,757 1,289 (827) 667 (3,110) 12,282 1,832 561 3,262 (2,788) 2,385 1,117 (1,993) (1,672) 425 148 1,146
Total assets 274,341 273,310 268,073 265,991 256,800 255,884 246,919 245,755 252,986 257,035 252,677 248,532 260,819 267,261 259,943 269,366 264,150 258,537 258,157 262,184 263,281
Profitability Ratio
ROA1 1.43% 1.59% 2.30% 1.55% 1.12% -0.77% 3.65% 4.75% 4.57% 6.98% 1.13% 1.38% 1.52% -0.48% -0.06% -0.79% -1.17% 0.02%
Benchmarks
ROA, Competitors2
General Motors Co. 3.87% 3.71% 3.56% 3.72% 3.52% 3.76% 3.71% 3.47% 3.95% 4.09% 4.66% 5.27% 3.84% 2.73% 1.41% 0.71% 1.97% 2.95%
Tesla Inc. 12.46% 14.07% 11.45% 13.46% 13.53% 15.25% 15.04% 13.89% 12.72% 8.88% 6.00% 3.95% 2.16% 1.38% 1.22% 0.97% -0.39% -2.51%

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q1 2024 Calculation
ROA = 100 × (Net income (loss) attributable to Ford Motor CompanyQ1 2024 + Net income (loss) attributable to Ford Motor CompanyQ4 2023 + Net income (loss) attributable to Ford Motor CompanyQ3 2023 + Net income (loss) attributable to Ford Motor CompanyQ2 2023) ÷ Total assets
= 100 × (1,332 + -526 + 1,199 + 1,917) ÷ 274,341 = 1.43%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Ford Motor Co. ROA deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.