Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Total Asset Turnover since 2005
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Ford Motor Co., consolidated income statement (quarterly data)
US$ in millions
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).
- Revenue Trends
- Company revenues excluding Ford Credit exhibit significant volatility throughout the periods, with a notable drop in the second quarter of 2020 followed by a strong recovery by the third quarter of the same year. Revenues generally trend upwards from early 2021 through 2024, peaking intermittently, but the final quarter in March 2025 shows a marked decline compared to prior quarters.
- Cost of Sales
- The cost of sales largely mirrors the revenue pattern but remains persistently high, often approaching or exceeding revenues, which compresses gross profit margins. There is a somewhat steady increase in cost levels over time, particularly from 2022 onwards, which factors into fluctuating profitability.
- Gross Profit Performance
- Gross profit shows considerable variability, with negative figures occurring in certain quarters, especially in early 2020. Positive gross profits become more regular from mid-2020 onward, peaking notably in mid-2022 and mid-2023 but declining again towards the end of the data series. This indicates challenges in cost control relative to sales volatility.
- Ford Credit Revenues and Expenses
- Ford Credit revenues experience a gradual decline from 2020 through the end of 2021, followed by a steady increase from 2022 to early 2025. Conversely, Ford Credit interest and operating expenses decreased significantly from 2020 through mid-2021 but then progressively increased again, suggesting rising operational costs parallel to revenue growth in that segment.
- Selling, Administrative, and Other Expenses
- These expenses fluctuate but generally show a downward trend after a peak in late 2020. The reductions indicate some operational efficiency or cost management improvements starting in 2022, although the expenses remain significant across all quarters.
- Operating Income
- Operating income is highly inconsistent, ranging from substantial losses in early 2020 to strong positive values in late 2021. It shows recovery and growth in parts of 2022 and 2023 but declines notably again in late 2023 and early 2024, then stabilizes at modest positive levels toward early 2025. These swings suggest operational challenges and episodic improvements.
- Interest and Other Income
- Interest expense on company debt remains relatively stable with minor fluctuations over the periods, implying consistent financing costs. Other income (loss), net, demonstrates extreme volatility, characterized by a large spike in late 2021 and significant negative values at various points, which influences overall profitability on a non-operating basis.
- Equity in Net Income of Affiliated Companies
- This component is generally positive but exhibits irregular fluctuations, with notable negative spikes in late 2022. This variability suggests fluctuating performance or valuation changes among affiliated entities impacting the consolidated results.
- Income Before Income Taxes
- Income before taxes follows the volatile nature of operating income and other income, showing sizeable positive spikes in specific quarters, such as late 2021, and deep losses at other times. This volatility underlines the impact of both operational results and irregular items on pre-tax earnings.
- Income Taxes
- The tax provision is inconsistent, alternating between benefits and charges. The swings correspond to the irregular income before taxes, reflecting the challenges in forecasting tax expenses due to erratic earnings patterns.
- Net Income
- Net income attributable to the company reflects the overall business volatility, with substantial losses early in 2020, strong recoveries and record highs in late 2021, and fluctuating but generally positive results thereafter. The final quarters show some decline but remain profitable, suggesting the company has managed to maintain profitability despite challenging periods.