Common-Size Income Statement
Quarterly Data
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- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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Ford Motor Co., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 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).
- Revenues and Gross Profit Trends
- Company revenues excluding Ford Credit remained constant at 100% across all periods, serving as a baseline for analysis. The cost of sales showed significant volatility, fluctuating roughly between -87% and -107% of revenues, with notable peaks in the second quarter of 2020 and a rising trend of cost pressures in several quarters through to 2025. Gross profit percentage mirrored this volatility, swinging from a low of -7.82% in mid-2020 to a peak above 12% in early 2021 and mid-2022, followed by a general decline in gross margin in the later quarters, indicating variable profitability linked to cost changes.
- Ford Credit Revenues and Related Expenses
- Ford Credit revenues as a percentage of the company revenues excluding Ford Credit demonstrated variability, with a marked peak at 16.47% in June 2020, followed by a decline to around 5.4%-8.65% in subsequent periods. Corresponding Ford Credit interest, operating, and other expenses also fluctuated, often moving inversely to Ford Credit revenues, with a mild upward trend from -3.68% in late 2021 to -7.27% in early 2025. This suggests a shifting business mix or cost structure within Ford Credit operations.
- Selling, Administrative, and Other Expenses
- Selling, administrative, and other expenses showed a decreasing trend as a percentage of revenues, dropping from a high of -11.91% in the second quarter of 2021 to stabilize around -6.5% by 2025. This denotes improved cost management or operational efficiencies gained over the periods surveyed.
- Operating Income Fluctuations
- Operating income demonstrated considerable volatility, with losses as large as -16.59% in June 2020 and gains peaking at 7.56% in the first quarter of 2022. Notably, operating income turned positive after 2020 and maintained moderate profitability until a reduction in late 2023 and early 2025, indicating cyclical or external market influences impacting operational performance.
- Interest Expense and Other Income
- Interest expense on company debt, excluding Ford Credit, decreased over time, moving from -2.71% in mid-2020 to approximately -0.6% to -0.8% in later periods, reflecting possible debt management improvements or lower borrowings. Other income exhibited high variability, with an outlier spike of 30.73% in December 2021, alongside generally small positive or negative values, indicating occasional significant one-time gains or losses.
- Equity Income and Income Before Taxes
- Equity in net income of affiliated companies remained close to neutral for much of the period, with sporadic minor gains and losses, except for an unusual negative spike of -7.06% in September 2022. Income before income taxes displayed volatile swings, including a large gain of 31.77% at the end of 2021 and deep losses, such as -11.95% in early 2022, underscoring earnings variability driven by both operating and non-operating factors.
- Income Taxes and Net Income
- The provision for income taxes fluctuated between positive and negative contributions without a clear trend, occasionally offsetting pre-tax income volatility. Net income margins followed the pattern of earnings before taxes, experiencing sizeable positive results, such as 34.76% in late 2021, and negative results like -9.69% in early 2022, further confirming earnings instability. Net income attributable to the company closely mirrored overall net income, maintaining the same directional trends throughout the periods reviewed.