Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Ford Motor Co., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
The cash flow dynamics are characterized by significant volatility in net income and aggressive capital allocation, particularly within the finance receivables segment and capital expenditures. While net cash provided by operating activities remains generally positive, the overall cash position is subject to substantial fluctuations driven by high-volume debt refinancing and strategic asset impairments.
- Operating Cash Flow and Earnings Volatility
- Net income exhibits extreme variance, ranging from a peak of 12.27 billion USD in December 2021 to a significant loss of 11.05 billion USD in December 2025. Despite this instability, net cash provided by operating activities remains more resilient, frequently exceeding 3 billion USD per quarter. This discrepancy is largely supported by consistent depreciation and tooling amortization, which typically range between 1.8 billion and 2.1 billion USD quarterly, acting as a non-cash buffer to earnings volatility.
- Capital Expenditures and Strategic Impairments
- A consistent upward trend in capital spending is observable, increasing from approximately 1.37 billion USD in early 2021 to 2.38 billion USD by March 2026. A critical event occurred in December 2025, where a massive EV asset impairment and program cancellation write-down of 9.44 billion USD was recorded, contributing heavily to the net loss for that period. This suggests a significant restructuring of electric vehicle assets or a pivot in strategic direction.
- Finance Receivables and Investing Cycles
- Investing activities are dominated by the high-volume acquisition and collection of finance receivables and operating leases. Quarterly acquisitions generally exceed 12 billion USD, largely offset by collections of similar magnitude. This cycle indicates a heavy reliance on the financing arm of the business to generate cash flow. Additionally, the company has maintained a strategy of active marketable securities management, with frequent large-scale purchases and sales to manage liquidity.
- Financing Strategy and Debt Management
- The financing section reveals a high-velocity debt turnover strategy. Long-term debt issuance is consistently high, often exceeding 12 billion USD per quarter, while payments of long-term debt typically range between 8 billion and 16 billion USD. This suggests a continuous refinancing cycle to maintain liquidity. Shareholder returns have evolved from negligible amounts in early 2021 to a stabilized quarterly dividend payment of approximately 600 million USD.
- Liquidity and Cash Position
- The net increase or decrease in cash is highly erratic, reflecting the interplay between volatile operating results and massive investing and financing outflows. Significant negative cash swings are observed in December 2021, December 2023, and March 2026, often coinciding with periods of high debt repayment or substantial capital reallocation.