Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Ford Motor Co., liquidity ratios (quarterly data)
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).
An analysis of liquidity ratios from March 2022 through March 2026 reveals a general deterioration in the short-term financial position, characterized by a gradual decline across all measured metrics starting in early 2024.
- Current Ratio
- The current ratio maintained a period of stability between March 2022 and December 2023, fluctuating narrowly between 1.16 and 1.21. This suggests a consistent ability to cover short-term obligations with current assets during this timeframe. However, a downward trend emerged in March 2024, with the ratio declining to 1.07 by December 2025 before a slight recovery to 1.09 in March 2026. The overall trend indicates a tightening of working capital margins.
- Quick Ratio
- The quick ratio, which excludes inventory from current assets, remained relatively steady throughout 2022 and 2023, peaking at 1.02 in December 2022. A noticeable shift occurred in early 2024, as the ratio began a consistent descent. By March 2026, the ratio reached 0.88, signaling that the organization's most liquid assets are no longer sufficient to cover current liabilities on a one-to-one basis.
- Cash Ratio
- The cash ratio exhibits the most significant decline and the lowest overall values. From March 2022 to December 2023, the ratio ranged between 0.40 and 0.46. A sharp contraction occurred in March 2024, where the ratio dropped to 0.33. Despite minor fluctuations through 2025, the ratio reached a period low of 0.29 by March 2026, indicating a reduction in the immediate cash availability relative to short-term debt.
The simultaneous decline of these three ratios suggests a systemic reduction in liquidity. The widening gap between the current ratio and the quick ratio in the later periods indicates an increasing reliance on inventory to meet short-term obligations, while the steady drop in the cash ratio reflects a diminished cash cushion.
AI Ask an analyst for more
Current Ratio
Ford Motor Co., current ratio calculation (quarterly data)
| Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Current assets | 116,329) | 123,487) | 130,720) | 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) | ||||||
| Current liabilities | 106,679) | 114,890) | 116,648) | 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) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Current ratio1 | 1.09 | 1.07 | 1.12 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||
| General Motors Co. | 1.15 | 1.17 | 1.23 | 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 | ||||||
| Tesla Inc. | 2.04 | 2.16 | 2.07 | 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 | ||||||
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).
1 Q1 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 116,329 ÷ 106,679 = 1.09
2 Click competitor name to see calculations.
The analysis of the liquidity position indicates a period of relative stability followed by a gradual decline in the current ratio. While both current assets and current liabilities increased in absolute terms between 2022 and 2025, the growth rate of liabilities eventually outpaced that of assets, leading to a reduction in the overall liquidity buffer.
- Current Asset Dynamics
- Current assets exhibited a general upward trajectory from March 2022, rising from 106,142 million US$ to a peak of 130,720 million US$ by September 2025. A contraction is observed in the subsequent quarters, with assets declining to 116,329 million US$ by March 2026.
- Current Liability Trends
- Current liabilities showed a consistent increase from 90,352 million US$ in March 2022 to a high of 116,648 million US$ in September 2025. This growth mirrored the asset expansion for several years before decreasing to 106,679 million US$ in the final reporting period.
- Current Ratio Performance
- The current ratio remained stable, fluctuating between 1.16 and 1.21 from March 2022 through December 2023. A downward trend emerged starting in early 2024, with the ratio decreasing from 1.17 in March 2024 to a period low of 1.07 in December 2025. A slight recovery to 1.09 was recorded by March 2026, though the ratio remains below the levels seen in the 2022-2023 period, suggesting a tightening of short-term liquidity.
AI Ask an analyst for more
Quick Ratio
Ford Motor Co., quick ratio calculation (quarterly data)
| Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Cash and cash equivalents | 17,649) | 23,356) | 26,788) | 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) | ||||||
| Marketable securities | 12,839) | 15,131) | 15,400) | 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) | ||||||
| Ford Credit finance receivables, net of allowance for credit losses | 46,185) | 49,130) | 48,214) | 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) | ||||||
| Trade and other receivables, less allowances | 17,227) | 15,398) | 19,199) | 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) | ||||||
| Total quick assets | 93,900) | 103,015) | 109,601) | 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) | ||||||
| Current liabilities | 106,679) | 114,890) | 116,648) | 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) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Quick ratio1 | 0.88 | 0.90 | 0.94 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||
| General Motors Co. | 0.89 | 0.92 | 0.98 | 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 | ||||||
| Tesla Inc. | 1.43 | 1.53 | 1.48 | 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 | ||||||
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).
1 Q1 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 93,900 ÷ 106,679 = 0.88
2 Click competitor name to see calculations.
The liquidity profile reflects a period of relative stabilization followed by a progressive decline in the capacity to cover short-term obligations using the most liquid assets.
- Quick Ratio Trend
- The quick ratio maintained a stable range between 0.95 and 1.02 from March 2022 through December 2023, indicating a near-one-to-one correlation between quick assets and current liabilities. A consistent downward trajectory is observed starting in March 2024, with the ratio reaching a period low of 0.88 by March 31, 2026.
- Quick Assets Analysis
- Total quick assets showed moderate growth and volatility, climbing from 87,034 million US dollars in March 2022 to a peak of 109,601 million US dollars in September 2025. However, a notable contraction occurred in the final two quarters of the period, ending at 93,900 million US dollars.
- Current Liabilities Analysis
- Current liabilities exhibited a general upward trend, increasing from 90,352 million US dollars in March 2022 to a peak of 116,648 million US dollars in September 2025. The growth in short-term obligations outpaced the growth of liquid assets for much of the 2024-2026 window, exerting downward pressure on the liquidity ratio.
- Liquidity Interpretation
- The erosion of the quick ratio from 1.02 in December 2022 to 0.88 in March 2026 suggests a tightening of immediate liquidity. This trend indicates a diminishing margin of safety, as the company becomes increasingly reliant on other current assets, such as inventory, to satisfy its short-term liabilities.
AI Ask an analyst for more
Cash Ratio
Ford Motor Co., cash ratio calculation (quarterly data)
| Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Cash and cash equivalents | 17,649) | 23,356) | 26,788) | 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) | ||||||
| Marketable securities | 12,839) | 15,131) | 15,400) | 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) | ||||||
| Total cash assets | 30,488) | 38,487) | 42,188) | 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) | ||||||
| Current liabilities | 106,679) | 114,890) | 116,648) | 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) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Cash ratio1 | 0.29 | 0.33 | 0.36 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||
| General Motors Co. | 0.26 | 0.30 | 0.32 | 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 | ||||||
| Tesla Inc. | 1.31 | 1.39 | 1.33 | 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 | ||||||
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).
1 Q1 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 30,488 ÷ 106,679 = 0.29
2 Click competitor name to see calculations.
The liquidity position demonstrates a consistent downward trend in the cash ratio from March 31, 2022, through March 31, 2026. This trajectory indicates a diminishing capacity to settle short-term obligations using only cash and cash equivalents.
- Cash Asset Volatility
- Total cash assets exhibited significant fluctuations, reaching a peak of 44,070 million USD in December 2022. Following this peak, cash levels generally trended lower, characterized by intermittent recoveries, before dropping to a period low of 30,488 million USD by March 31, 2026. This overall reduction in liquid reserves has limited the company's immediate financial cushion.
- Growth of Current Liabilities
- Current liabilities maintained a general upward trajectory for the majority of the analyzed period. Obligations grew from 90,352 million USD in March 2022 to a peak of 116,648 million USD in June 2025. While a slight contraction in liabilities occurred in the final two quarters, the cumulative increase in short-term debt and payables has exerted continuous pressure on liquidity metrics.
- Cash Ratio Degradation
- The cash ratio experienced a steady erosion, falling from 0.46 in March 2022 to 0.29 by March 31, 2026. The ratio remained relatively stable between 0.40 and 0.46 during the 2022 calendar year but shifted to a lower baseline of 0.32 to 0.36 throughout 2023 and 2024. The final decline to 0.29 marks the most significant weakening of the immediate liquidity position, suggesting an increased reliance on non-cash current assets or new financing to meet current liabilities.
AI Ask an analyst for more