Common-Size Income Statement
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- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Aggregate Accruals
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Ford Motor Co., common-size consolidated income statement
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Revenue and Cost Trends
- Company revenues, excluding Ford Credit, remained consistently at 100% across all periods. The cost of sales exhibited a decreasing trend from -97.25% in 2020 to a low of -90.15% in 2022, indicating improved cost efficiency, but slightly increased again to -91.74% by 2024. Correspondingly, gross profit rose significantly from 2.75% in 2020 to a peak of 9.85% in 2022, before gradually declining to 8.26% in 2024.
- Ford Credit Revenues and Expenses
- Ford Credit revenues as a percentage of overall company revenues excluding Ford Credit declined from 9.66% in 2020 to 6.02% in 2022 but then showed a recovery reaching 7.11% in 2024. Expenses related to Ford Credit fluctuated, initially decreasing from -7.42% in 2020 to -4.16% in 2021, then rising again to -6.40% by 2024. This indicates some volatility in cost management within the Ford Credit segment.
- Operating Income and Expenses
- Operating income improved from a loss of -3.8% in 2020 to positive territory, peaking at 4.21% in 2022, followed by a slight decrease to 3.02% in 2024. Selling, administrative, and other expenses steadily declined from -8.79% in 2020 to -5.96% in 2024, reflecting an effort to control overhead costs. Interest expense on company debt showed a consistent reduction from -1.42% to -0.65%, indicating improved debt cost management.
- Pensions, Investments, and Other Income Items
- Net periodic pension and OPEB costs experienced volatility, with a high positive income impact of 4.75% in 2021 but turning into a cost of -1.5% in 2023, then recovering to a small income of 0.24% in 2024. Investment-related interest income remained relatively stable with a slight upward trend. Gains and losses on cash equivalents and marketable securities were volatile; significant gains in 2021 (7.25%) were followed by losses in subsequent years, almost breaking even by 2024. Gains on changes in investments in affiliates decreased sharply after 2020 and remained near zero through 2024.
- Other Income (Loss) and Equity in Affiliates
- Other income (loss), net, showed substantial fluctuation, from a positive 11.67% in 2021 to negative figures in 2022 and 2023, partially rebounding in 2024. Equity in net income of affiliated companies was positive but low, turning negative in 2022 before rising modestly again.
- Income Before Taxes and Net Income
- Income before income taxes shifted markedly, improving from a slight loss of -0.96% in 2020 to a strong gain of 14.08% in 2021, then slipping back into negative territory in 2022 (-2.02%), and recovering in 2023 and 2024 to 4.19%. Provision for income taxes was variable, with benefit periods in 2021 and 2022, then a cost emerging in 2024. Net income attributable to the company mirrored these trends, transitioning from a loss in 2020 (-1.10%) to significant profitability in 2021 (14.21%), declining to losses again in 2022, and resuming positive results in the two most recent years.