Stock Analysis on Net

Ford Motor Co. (NYSE:F)

Analysis of Liquidity Ratios 
Quarterly Data

Microsoft Excel

Liquidity Ratios (Summary)

Ford Motor Co., liquidity ratios (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Current ratio 1.10 1.13 1.16 1.15 1.17 1.17 1.20 1.21 1.20 1.20 1.20 1.20 1.16 1.17 1.20 1.20 1.21 1.21 1.20 1.20 1.34 1.32
Quick ratio 0.91 0.92 0.98 0.94 0.96 0.95 1.01 0.99 0.99 0.99 1.02 0.99 0.95 0.96 1.03 1.01 1.01 1.03 1.05 1.04 1.17 1.14
Cash ratio 0.33 0.32 0.36 0.34 0.33 0.33 0.40 0.41 0.42 0.41 0.45 0.45 0.42 0.46 0.55 0.52 0.49 0.49 0.51 0.48 0.62 0.49

Based on: 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), 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).


Current Ratio

The current ratio remained relatively stable from March 31, 2020, through June 30, 2021, fluctuating between 1.20 and 1.34, with a peak of 1.34 in June 2020. It then consistently hovered around 1.20 until December 31, 2023. From March 31, 2024, onward, a gradual decline is observable, decreasing from 1.17 to 1.10 by June 30, 2025. This suggests a slight deterioration in short-term liquidity over the most recent periods, indicating the company's ability to cover current liabilities with current assets has modestly weakened but remains above 1.0, implying ongoing short-term financial stability.

Quick Ratio

The quick ratio shows a downward trend over the entire timeframe. Initially, it was at 1.14 in March 2020, peaked at 1.17 in June 2020, then declined steadily through 2022 to approximately 0.95. Thereafter, it fluctuated slightly around 0.99 in 2023 before resuming a downward trend in 2024, reaching 0.91 by mid-2025. The consistent drop below 1.0 from 2022 onwards implies a declining capacity to meet short-term obligations with the most liquid assets, excluding inventories, potentially signaling tighter liquidity conditions.

Cash Ratio

The cash ratio displayed significant volatility over the analyzed periods. It started relatively low at 0.49 in March 2020, increased to a peak of 0.62 in June 2020, then showed a general downward trend with minor fluctuations. After hovering around 0.50 in 2020–2021, the ratio fell below 0.50 in 2022 and continued declining to around 0.40 or lower in late 2023 and thereafter. The ratio reached its lowest points, approximately 0.32–0.33, during 2024 and midway through 2025. This decreasing trend indicates a reduction in the most liquid assets (cash and equivalents) relative to current liabilities, suggesting a tighter immediate liquidity position.

Summary of Liquidity Trends

Overall, all three liquidity ratios demonstrate a clear pattern of diminishing liquidity over the assessed periods. The current ratio maintains modest stability with a mild decline in recent quarters, while the quick and cash ratios exhibit more pronounced declines. This suggests that while the company can generally cover its current liabilities with current assets, the quality and immediacy of these assets are decreasing. The downward trends in quick and cash ratios could point to increased reliance on inventories or a reduction in liquid resources, potentially meriting closer attention to working capital management and cash flow strategies going forward.


Current Ratio

Ford Motor Co., current ratio calculation (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Selected Financial Data (US$ in millions)
Current assets 126,612 123,054 124,474 125,099 120,518 120,595 121,481 121,361 121,712 115,123 116,476 108,088 100,469 106,142 108,996 106,968 101,275 113,932 116,744 111,765 124,111 124,276
Current liabilities 114,988 108,732 106,859 109,036 103,403 103,206 101,531 100,268 101,015 95,905 96,866 90,167 86,452 90,352 90,727 89,033 83,474 94,249 97,192 93,159 92,780 94,494
Liquidity Ratio
Current ratio1 1.10 1.13 1.16 1.15 1.17 1.17 1.20 1.21 1.20 1.20 1.20 1.20 1.16 1.17 1.20 1.20 1.21 1.21 1.20 1.20 1.34 1.32
Benchmarks
Current Ratio, Competitors2
General Motors Co. 1.22 1.21 1.13 1.21 1.18 1.16 1.08 1.14 1.15 1.10 1.10 1.14 1.15 1.11 1.10 1.08 1.10 1.08 1.01 1.11 1.12 1.07
Tesla Inc. 2.04 2.00 2.02 1.84 1.91 1.72 1.73 1.69 1.59 1.57 1.53 1.46 1.43 1.35 1.38 1.39 1.51 1.66 1.88 1.63 1.25 1.24

Based on: 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), 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).

1 Q2 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= 126,612 ÷ 114,988 = 1.10

2 Click competitor name to see calculations.


Current Assets
Current assets exhibit fluctuations over the analyzed quarters, beginning at approximately $124.3 billion in the first quarter of 2020 and dipping to a low near $100.5 billion in mid-2022. Subsequent quarters demonstrate a recovery trend, with current assets increasing to above $126 billion by the end of 2025. Overall, the pattern indicates cyclical declines and recoveries, with a slight upward trajectory toward the later periods.
Current Liabilities
Current liabilities start at roughly $94.5 billion in early 2020. There is a noticeable decrease during 2021, reaching a low point around $83.5 billion in mid-2021. Afterward, liabilities generally trend upward, reaching a high of about $115 billion by mid-2025. This gradual increase in liabilities after 2021 contrasts with the earlier reduction, indicating increased short-term obligations in the later periods.
Current Ratio
The current ratio remains relatively stable throughout the periods, fluctuating slightly above and below the 1.2 mark. Starting at 1.32 in early 2020, it decreases to approximately 1.1 by mid-2025. The steady decline in the current ratio, albeit gradual, suggests a diminishing cushion of current assets relative to current liabilities, which could indicate tightening liquidity conditions over time.
Summary of Trends
The company’s short-term financial position shows variability in current assets and liabilities, with a general increase in both from 2022 onwards. The simultaneous rise in liabilities alongside assets results in a stable but slightly declining current ratio. This trend suggests that while assets are growing, liabilities are increasing at a somewhat faster pace, which may impact liquidity if the trend continues.

Quick Ratio

Ford Motor Co., quick ratio calculation (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Selected Financial Data (US$ in millions)
Cash and cash equivalents 23,020 20,864 22,935 23,449 19,953 19,721 24,862 26,427 26,406 22,144 25,134 21,548 19,516 21,013 20,540 27,429 22,955 21,826 25,243 24,263 30,989 25,971
Marketable securities 14,484 14,362 15,413 13,456 14,613 14,742 15,309 14,688 16,415 17,369 18,936 18,625 17,184 20,215 29,053 18,997 18,081 24,281 24,718 20,568 26,141 20,399
Ford Credit finance receivables, net of allowance for credit losses 47,593 47,997 51,850 49,340 47,434 44,600 46,425 42,572 42,557 40,350 38,720 33,902 30,716 32,775 32,543 32,600 34,339 40,664 42,401 41,847 42,720 54,889
Trade and other receivables, less allowances 19,709 17,225 14,723 16,469 16,802 18,698 15,601 15,129 14,482 14,920 15,729 14,764 15,037 13,031 11,370 10,851 8,750 10,448 9,993 10,114 9,107 6,625
Total quick assets 104,806 100,448 104,921 102,714 98,802 97,761 102,197 98,816 99,860 94,783 98,519 88,839 82,453 87,034 93,506 89,877 84,125 97,219 102,355 96,792 108,957 107,884
 
Current liabilities 114,988 108,732 106,859 109,036 103,403 103,206 101,531 100,268 101,015 95,905 96,866 90,167 86,452 90,352 90,727 89,033 83,474 94,249 97,192 93,159 92,780 94,494
Liquidity Ratio
Quick ratio1 0.91 0.92 0.98 0.94 0.96 0.95 1.01 0.99 0.99 0.99 1.02 0.99 0.95 0.96 1.03 1.01 1.01 1.03 1.05 1.04 1.17 1.14
Benchmarks
Quick Ratio, Competitors2
General Motors Co. 0.97 0.96 0.90 0.95 0.91 0.88 0.83 0.88 0.88 0.82 0.86 0.88 0.85 0.84 0.84 0.79 0.83 0.83 0.79 0.89 0.88 0.88
Tesla Inc. 1.35 1.37 1.42 1.21 1.24 1.04 1.13 1.07 0.96 0.93 0.94 0.95 0.96 0.95 1.00 1.00 1.12 1.28 1.49 1.22 0.82 0.78

Based on: 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), 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).

1 Q2 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 104,806 ÷ 114,988 = 0.91

2 Click competitor name to see calculations.


Trend in Total Quick Assets
Total quick assets displayed fluctuations over the observed periods. Initially, from March 2020 to December 2020, quick assets showed a minor decline from 107,884 million USD to 102,355 million USD. A more pronounced decrease occurred in the following quarters, reaching a low point around June 2021 (84,125 million USD). From that point, there was a recovery phase with a general upward trend, peaking near December 2023 at approximately 102,197 million USD. Thereafter, total quick assets maintained relatively stable levels, fluctuating slightly around 100,000 to 104,000 million USD in the latest quarters.
Trend in Current Liabilities
Current liabilities were relatively stable during the early quarters, oscillating between roughly 92,000 to 97,000 million USD from March 2020 through December 2020. A notable decrease occurred by mid-2021, dipping to around 83,474 million USD, followed by a gradual increase in liabilities over subsequent quarters. From early 2022 onwards, current liabilities exhibited a rising trend, peaking at 114,988 million USD by June 2025. This represents an overall increase in short-term obligations over the medium term.
Quick Ratio Dynamics
The quick ratio initially hovered just above 1.0, indicating a balanced liquidity position, with values around 1.14 to 1.05 during 2020. This ratio declined progressively through 2021 and 2022, falling below 1.0 and reaching a low of 0.91 by mid-2025. The decline in the quick ratio suggests a weakening short-term liquidity condition, as quick assets increasingly lag behind current liabilities. Despite some minor recoveries around 2021 and 2023, the overall trajectory points to tighter liquidity management over the observed periods.
Interpretation of Liquidity Position
The interplay between total quick assets and current liabilities reveals a period of initial resilience followed by pressure on liquidity. The decrease in quick assets coupled with rising current liabilities has driven the quick ratio below the critical threshold of 1.0 in recent years. This could indicate elevated risks in meeting short-term obligations without relying on inventory sales. Continuous monitoring and potential corrective actions may be necessary to address this trend and safeguard the company’s liquidity posture.

Cash Ratio

Ford Motor Co., cash ratio calculation (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Selected Financial Data (US$ in millions)
Cash and cash equivalents 23,020 20,864 22,935 23,449 19,953 19,721 24,862 26,427 26,406 22,144 25,134 21,548 19,516 21,013 20,540 27,429 22,955 21,826 25,243 24,263 30,989 25,971
Marketable securities 14,484 14,362 15,413 13,456 14,613 14,742 15,309 14,688 16,415 17,369 18,936 18,625 17,184 20,215 29,053 18,997 18,081 24,281 24,718 20,568 26,141 20,399
Total cash assets 37,504 35,226 38,348 36,905 34,566 34,463 40,171 41,115 42,821 39,513 44,070 40,173 36,700 41,228 49,593 46,426 41,036 46,107 49,961 44,831 57,130 46,370
 
Current liabilities 114,988 108,732 106,859 109,036 103,403 103,206 101,531 100,268 101,015 95,905 96,866 90,167 86,452 90,352 90,727 89,033 83,474 94,249 97,192 93,159 92,780 94,494
Liquidity Ratio
Cash ratio1 0.33 0.32 0.36 0.34 0.33 0.33 0.40 0.41 0.42 0.41 0.45 0.45 0.42 0.46 0.55 0.52 0.49 0.49 0.51 0.48 0.62 0.49
Benchmarks
Cash Ratio, Competitors2
General Motors Co. 0.31 0.30 0.28 0.34 0.32 0.28 0.28 0.36 0.35 0.31 0.34 0.35 0.34 0.33 0.39 0.33 0.39 0.38 0.36 0.46 0.48 0.51
Tesla Inc. 1.23 1.24 1.27 1.10 1.11 0.91 1.01 0.98 0.84 0.82 0.83 0.86 0.87 0.84 0.90 0.89 0.99 1.15 1.36 1.09 0.70 0.67

Based on: 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), 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).

1 Q2 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 37,504 ÷ 114,988 = 0.33

2 Click competitor name to see calculations.


Total Cash Assets
The trend in total cash assets shows notable fluctuations over the analyzed periods. Beginning at 46,370 million US dollars in the first quarter of 2020, cash assets peaked at 57,130 million in the subsequent quarter before declining to 44,831 million by the third quarter of 2020. There was a moderate recovery towards the end of 2020 and early 2021, followed by another set of fluctuations that generally followed a downward trajectory from 2022 onward. The lowest observed values occurred in early 2024, with a slight recovery by mid-2025, but the overall trend suggests a gradual decrease in liquid resources available over this extended timeframe.
Current Liabilities
Current liabilities have maintained a high level throughout the examined period, starting at 94,494 million US dollars in early 2020. There is a slight decrease in the middle of 2020, reaching a low around 83,474 million in the second quarter of 2021, but liabilities rose steadily afterward. From late 2021 through mid-2025, current liabilities show a general upward trend, culminating at 114,988 million in mid-2025. This indicates increasing short-term obligations and potential pressure on liquidity if not matched by growth in current assets.
Cash Ratio
The cash ratio, which measures the company's ability to cover current liabilities with cash and cash equivalents, has experienced a gradual decline over the analyzed quarters. Starting at 0.49 in the first quarter of 2020, the ratio peaked at 0.62 in the second quarter of 2020 but steadily decreased thereafter. By 2023 and through to mid-2025, the ratio settled in a lower range between 0.32 and 0.36, indicating a diminishing capacity to cover short-term liabilities with available cash. This trend suggests increased liquidity risk or a strategic choice to allocate cash elsewhere despite rising current liabilities.