Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Debt Ratios
Coverage Ratios
Ford Motor Co., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 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).
The solvency profile exhibits a progressive increase in leverage, culminating in a significant deterioration of debt-servicing capacity during the latter portion of the observed period.
- Leverage and Equity Ratios
- The Debt to Equity ratio demonstrates a long-term upward trajectory, rising from 3.01 in March 2022 to 3.55 by September 2024. A substantial escalation is observed starting in December 2025, where the ratio spiked to 4.54 and remained elevated above 4.40 through September 2026. Similarly, the Debt to Capital ratio remained relatively stable between 0.74 and 0.78 for the majority of the period before increasing to 0.82 in the final quarters of 2025 and 2026, indicating a higher proportion of debt in the total capital structure.
- Asset-Based Solvency
- The Debt to Assets ratio remained the most consistent metric, fluctuating within a narrow range between 0.52 and 0.56 throughout the entire period. This stability suggests that the growth in total debt was largely proportional to the growth in total assets, maintaining a constant debt-to-asset relationship despite the volatility in other solvency markers.
- Financial Leverage
- Financial leverage showed a steady increase from 5.62 in March 2022 to 6.48 by September 2024. Parallel to the Debt to Equity trend, a sharp increase occurred in December 2025, reaching 8.04. Leverage remained high through September 2026, closing at 7.92, which indicates an increased reliance on borrowed funds to finance assets.
- Interest Coverage and Debt Servicing
- The ability to service debt shows extreme volatility and a critical downward shift. While the interest coverage ratio generally fluctuated between 3.38 and 7.71 from 2022 through mid-2025—with a brief outlier of -1.40 in December 2022—a severe collapse is evident starting in December 2025. The ratio dropped to -8.43 and remained deeply negative through September 2026, ending at -7.18. This trend indicates that operating earnings became insufficient to cover interest obligations during the final quarters of the analyzed period.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Debt to Equity
Ford Motor Co., debt to equity calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | 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) | |||||||||||||||||||||||||
| Debt payable within one year | 53,313) | 51,337) | 50,791) | 57,302) | 57,628) | 56,872) | 54,440) | 54,949) | 53,564) | 50,565) | 49,790) | 49,669) | 48,638) | 49,341) | 48,050) | 50,164) | 44,050) | 43,819) | 48,286) | ||||||
| Long-term debt payable after one year | 109,769) | 109,630) | 106,335) | 106,034) | 104,312) | 100,855) | 100,830) | 103,573) | 103,694) | 100,336) | 99,625) | 99,562) | 94,024) | 93,895) | 91,242) | 88,805) | 84,279) | 85,008) | 87,315) | ||||||
| Total debt | 163,082) | 160,967) | 157,126) | 163,336) | 161,940) | 157,727) | 155,270) | 158,522) | 157,258) | 150,901) | 149,415) | 149,231) | 142,662) | 143,236) | 139,292) | 138,969) | 128,329) | 128,827) | 135,601) | ||||||
| Equity attributable to Ford Motor Company | 36,923) | 35,719) | 37,453) | 35,952) | 47,392) | 45,057) | 44,635) | 44,835) | 44,315) | 43,567) | 42,870) | 42,773) | 44,263) | 43,677) | 42,366) | 43,242) | 42,125) | 44,169) | 44,985) | ||||||
| Solvency Ratio | |||||||||||||||||||||||||
| Debt to equity1 | 4.42 | 4.51 | 4.20 | 4.54 | 3.42 | 3.50 | 3.48 | 3.54 | 3.55 | 3.46 | 3.49 | 3.49 | 3.22 | 3.28 | 3.29 | 3.21 | 3.05 | 2.92 | 3.01 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Debt to Equity, Competitors2 | |||||||||||||||||||||||||
| General Motors Co. | 2.05 | 2.06 | 2.04 | 2.13 | 2.00 | 2.05 | 2.06 | 2.06 | 1.80 | 1.84 | 1.84 | 1.89 | 1.60 | 1.65 | 1.64 | 1.69 | 1.73 | 1.73 | 1.77 | ||||||
| Tesla Inc. | 0.11 | 0.11 | 0.11 | 0.10 | 0.10 | 0.09 | 0.10 | 0.11 | 0.11 | 0.12 | 0.08 | 0.08 | 0.10 | 0.07 | 0.08 | 0.09 | 0.12 | 0.15 | 0.17 | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 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 Q3 2026 Calculation
Debt to equity = Total debt ÷ Equity attributable to Ford Motor Company
= 163,082 ÷ 36,923 = 4.42
2 Click competitor name to see calculations.
The solvency profile of the organization exhibits a progressive increase in leverage over the analyzed period from March 2022 to September 2026. The overall trajectory is characterized by a steady rise in total liabilities coupled with a significant contraction in equity during the latter stage of the period, resulting in a marked deterioration of the debt-to-equity ratio.
- Total Debt Trends
- Total debt experienced a general upward trajectory, rising from 135,601 million USD in March 2022 to 163,082 million USD by September 2026. While a brief period of decline was noted in mid-2022, debt levels grew consistently from 2023 onwards, peaking at 163,336 million USD in December 2025 before stabilizing slightly above 160 billion USD in the final quarters.
- Equity Position
- Equity attributable to the company remained relatively stable between 42,125 million USD and 45,057 million USD for over three years, spanning from March 2022 to June 2025. However, a sharp decline occurred in December 2025, where equity dropped to 35,952 million USD. This reduced level persisted through September 2026, reflecting a substantial erosion of the equity base.
- Debt to Equity Ratio Analysis
- The debt-to-equity ratio progressed through three distinct phases. Initially, from March 2022 to June 2023, the ratio fluctuated within a range of 2.92 to 3.29. A second phase of elevated leverage was observed between December 2023 and June 2025, with the ratio stabilizing between 3.42 and 3.55. The final phase, beginning in December 2025, shows a significant spike to a peak of 4.54, ending the period at 4.42. This escalation indicates a shift toward a more aggressive capital structure and increased financial risk.
The correlation between the rising total debt and the sudden decrease in equity in late 2025 explains the precipitous rise in the solvency ratio. The transition from a ratio of approximately 3.0 in early 2022 to over 4.4 by late 2026 signifies a substantial increase in the proportion of debt used to finance assets relative to shareholder equity.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Debt to Capital
Ford Motor Co., debt to capital calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | 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) | |||||||||||||||||||||||||
| Debt payable within one year | 53,313) | 51,337) | 50,791) | 57,302) | 57,628) | 56,872) | 54,440) | 54,949) | 53,564) | 50,565) | 49,790) | 49,669) | 48,638) | 49,341) | 48,050) | 50,164) | 44,050) | 43,819) | 48,286) | ||||||
| Long-term debt payable after one year | 109,769) | 109,630) | 106,335) | 106,034) | 104,312) | 100,855) | 100,830) | 103,573) | 103,694) | 100,336) | 99,625) | 99,562) | 94,024) | 93,895) | 91,242) | 88,805) | 84,279) | 85,008) | 87,315) | ||||||
| Total debt | 163,082) | 160,967) | 157,126) | 163,336) | 161,940) | 157,727) | 155,270) | 158,522) | 157,258) | 150,901) | 149,415) | 149,231) | 142,662) | 143,236) | 139,292) | 138,969) | 128,329) | 128,827) | 135,601) | ||||||
| Equity attributable to Ford Motor Company | 36,923) | 35,719) | 37,453) | 35,952) | 47,392) | 45,057) | 44,635) | 44,835) | 44,315) | 43,567) | 42,870) | 42,773) | 44,263) | 43,677) | 42,366) | 43,242) | 42,125) | 44,169) | 44,985) | ||||||
| Total capital | 200,005) | 196,686) | 194,579) | 199,288) | 209,332) | 202,784) | 199,905) | 203,357) | 201,573) | 194,468) | 192,285) | 192,004) | 186,925) | 186,913) | 181,658) | 182,211) | 170,454) | 172,996) | 180,586) | ||||||
| Solvency Ratio | |||||||||||||||||||||||||
| Debt to capital1 | 0.82 | 0.82 | 0.81 | 0.82 | 0.77 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.76 | 0.77 | 0.77 | 0.76 | 0.75 | 0.74 | 0.75 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Debt to Capital, Competitors2 | |||||||||||||||||||||||||
| General Motors Co. | 0.67 | 0.67 | 0.67 | 0.68 | 0.67 | 0.67 | 0.67 | 0.67 | 0.64 | 0.65 | 0.65 | 0.65 | 0.61 | 0.62 | 0.62 | 0.63 | 0.63 | 0.63 | 0.64 | ||||||
| Tesla Inc. | 0.10 | 0.10 | 0.10 | 0.09 | 0.09 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 | 0.08 | 0.08 | 0.09 | 0.06 | 0.07 | 0.09 | 0.10 | 0.13 | 0.15 | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 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 Q3 2026 Calculation
Debt to capital = Total debt ÷ Total capital
= 163,082 ÷ 200,005 = 0.82
2 Click competitor name to see calculations.
An analysis of the solvency metrics from March 31, 2022, to September 30, 2026, reveals a gradual and consistent increase in the proportion of debt relative to total capital. The company transitioned from a debt-to-capital ratio of 0.75 at the start of the period to a peak of 0.82 by the end of the observed timeframe, indicating a heightened reliance on borrowed funds to support its capital structure.
- Total Debt Trajectory
- Total debt exhibited a general upward trend, rising from 135,601 million USD in March 2022 to 163,082 million USD by September 2026. While there were minor fluctuations in early 2022, a steady climb began in late 2022, with debt levels consistently surpassing 150,000 million USD starting in June 2024. The highest debt concentration was observed in December 2025 at 163,336 million USD.
- Total Capital Movements
- Total capital followed a similar growth pattern for the majority of the period, increasing from 180,586 million USD in March 2022 to a peak of 209,332 million USD in September 2025. However, a contraction occurred in the final year, with capital decreasing to 200,005 million USD by September 2026. This divergence between rising debt and declining capital in the final stages contributed to the deterioration of the solvency ratio.
- Debt to Capital Ratio Analysis
- The debt-to-capital ratio remained relatively stable between 0.74 and 0.78 from March 2022 through June 2025. A period of notable stability was observed between March 2024 and June 2025, where the ratio plateaued at approximately 0.78. A significant shift occurred between September 2025 and December 2025, where the ratio jumped from 0.77 to 0.82. This elevated level of 0.81 to 0.82 persisted through September 2026, marking the highest level of leverage in the analyzed period.
The observed patterns suggest a strategic or operational shift toward higher leverage in the latter part of the period. The increase in the debt-to-capital ratio during 2025 and 2026 is specifically attributed to the combination of sustained debt accumulation and a reduction in total capital, resulting in a more leveraged financial position.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Debt to Assets
Ford Motor Co., debt to assets calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | 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) | |||||||||||||||||||||||||
| Debt payable within one year | 53,313) | 51,337) | 50,791) | 57,302) | 57,628) | 56,872) | 54,440) | 54,949) | 53,564) | 50,565) | 49,790) | 49,669) | 48,638) | 49,341) | 48,050) | 50,164) | 44,050) | 43,819) | 48,286) | ||||||
| Long-term debt payable after one year | 109,769) | 109,630) | 106,335) | 106,034) | 104,312) | 100,855) | 100,830) | 103,573) | 103,694) | 100,336) | 99,625) | 99,562) | 94,024) | 93,895) | 91,242) | 88,805) | 84,279) | 85,008) | 87,315) | ||||||
| Total debt | 163,082) | 160,967) | 157,126) | 163,336) | 161,940) | 157,727) | 155,270) | 158,522) | 157,258) | 150,901) | 149,415) | 149,231) | 142,662) | 143,236) | 139,292) | 138,969) | 128,329) | 128,827) | 135,601) | ||||||
| Total assets | 292,484) | 285,531) | 282,434) | 289,160) | 300,990) | 292,725) | 284,539) | 285,196) | 287,047) | 276,586) | 274,341) | 273,310) | 268,073) | 265,991) | 256,800) | 255,884) | 246,919) | 245,755) | 252,986) | ||||||
| Solvency Ratio | |||||||||||||||||||||||||
| Debt to assets1 | 0.56 | 0.56 | 0.56 | 0.56 | 0.54 | 0.54 | 0.55 | 0.56 | 0.55 | 0.55 | 0.54 | 0.55 | 0.53 | 0.54 | 0.54 | 0.54 | 0.52 | 0.52 | 0.54 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Debt to Assets, Competitors2 | |||||||||||||||||||||||||
| General Motors Co. | 0.45 | 0.45 | 0.45 | 0.46 | 0.46 | 0.47 | 0.47 | 0.46 | 0.44 | 0.45 | 0.44 | 0.45 | 0.42 | 0.43 | 0.43 | 0.43 | 0.43 | 0.44 | 0.44 | ||||||
| Tesla Inc. | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.07 | 0.06 | 0.07 | 0.05 | 0.05 | 0.06 | 0.04 | 0.04 | 0.05 | 0.06 | 0.08 | 0.09 | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 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 Q3 2026 Calculation
Debt to assets = Total debt ÷ Total assets
= 163,082 ÷ 292,484 = 0.56
2 Click competitor name to see calculations.
The analysis of solvency metrics reveals a consistent capital structure characterized by a stable relationship between total debt and total assets over the observed period from March 2022 through September 2026. While absolute values for both liabilities and assets have increased, the resulting debt-to-assets ratio has remained within a narrow corridor, suggesting a disciplined approach to leverage relative to balance sheet growth.
- Debt to Assets Ratio Trends
- The ratio exhibited minimal volatility, fluctuating between a low of 0.52 in mid-2022 and a high of 0.56 in late 2025 and 2026. A period of relative stability was observed between March 2022 and June 2023, where the ratio hovered around 0.54. Starting in late 2023, a marginal upward trend emerged, with the ratio settling at 0.56 for the final three quarters of the analyzed period, indicating a slight increase in the proportion of assets financed through debt.
- Total Debt Evolution
- Absolute debt levels showed a general upward trajectory over the long term. Following a brief decline in mid-2022 to approximately 128 billion USD, total debt grew steadily, surpassing 140 billion USD by early 2023 and continuing to climb to a peak of 163.3 billion USD by December 2025. This represents a significant increase in nominal leverage, although the growth was gradual rather than abrupt.
- Total Assets Expansion
- Total assets expanded in tandem with the increase in debt, which served to mitigate the impact on the solvency ratio. Assets rose from 252.9 billion USD in March 2022 to a peak of 300.9 billion USD in June 2025. Despite a moderate contraction in asset value during the 2025-2026 period, the overall growth in the asset base provided a sufficient buffer to maintain the debt-to-assets ratio below 0.60.
- Solvency Correlation
- The synchronization between the growth of total debt and total assets indicates that the expansion of the balance sheet was largely funded by debt. The stability of the ratio suggests that for every dollar of asset growth, a proportional amount of debt was acquired, maintaining a consistent risk profile regarding long-term solvency.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Financial Leverage
Ford Motor Co., financial leverage calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | 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) | |||||||||||||||||||||||||
| Total assets | 292,484) | 285,531) | 282,434) | 289,160) | 300,990) | 292,725) | 284,539) | 285,196) | 287,047) | 276,586) | 274,341) | 273,310) | 268,073) | 265,991) | 256,800) | 255,884) | 246,919) | 245,755) | 252,986) | ||||||
| Equity attributable to Ford Motor Company | 36,923) | 35,719) | 37,453) | 35,952) | 47,392) | 45,057) | 44,635) | 44,835) | 44,315) | 43,567) | 42,870) | 42,773) | 44,263) | 43,677) | 42,366) | 43,242) | 42,125) | 44,169) | 44,985) | ||||||
| Solvency Ratio | |||||||||||||||||||||||||
| Financial leverage1 | 7.92 | 7.99 | 7.54 | 8.04 | 6.35 | 6.50 | 6.37 | 6.36 | 6.48 | 6.35 | 6.40 | 6.39 | 6.06 | 6.09 | 6.06 | 5.92 | 5.86 | 5.56 | 5.62 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Financial Leverage, Competitors2 | |||||||||||||||||||||||||
| General Motors Co. | 4.60 | 4.56 | 4.48 | 4.60 | 4.34 | 4.36 | 4.38 | 4.44 | 4.08 | 4.12 | 4.15 | 4.25 | 3.78 | 3.85 | 3.82 | 3.89 | 3.99 | 3.96 | 4.05 | ||||||
| Tesla Inc. | 1.76 | 1.71 | 1.71 | 1.68 | 1.67 | 1.66 | 1.68 | 1.67 | 1.71 | 1.70 | 1.70 | 1.70 | 1.76 | 1.77 | 1.81 | 1.84 | 1.87 | 1.88 | 1.94 | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 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 Q3 2026 Calculation
Financial leverage = Total assets ÷ Equity attributable to Ford Motor Company
= 292,484 ÷ 36,923 = 7.92
2 Click competitor name to see calculations.
The financial position reflects a steady expansion of total assets coupled with a period of relative equity stability, followed by a sharp increase in financial leverage during the final quarters of the analyzed period.
- Asset Trajectory
- Total assets exhibited a consistent upward trend from March 31, 2022, through September 30, 2025, increasing from 252,986 million to a peak of 300,990 million. Despite a slight contraction in late 2025 and early 2026, the asset base remained elevated, ending the period at 292,484 million.
- Equity Dynamics
- Equity attributable to the company remained largely range-bound between approximately 42,000 million and 47,000 million for over three years. However, a significant reduction occurred between September 30, 2025, and December 31, 2025, where equity dropped from 47,392 million to 35,952 million. This lower equity level persisted through September 30, 2026, fluctuating between 35,719 million and 37,453 million.
- Financial Leverage Trends
- The financial leverage ratio experienced a gradual ascent from 5.62 in March 2022 to 6.50 by June 2025, mirroring the slow growth of assets relative to stable equity. A structural shift is evident starting December 31, 2025, when the ratio spiked to 8.04. This increase was primarily driven by the contraction in equity rather than asset growth. For the remainder of the period, the leverage ratio remained at an elevated plateau, ranging between 7.54 and 7.99.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Interest Coverage
Ford Motor Co., interest coverage calculation (quarterly data)
| Sep 30, 2026 | Jun 30, 2026 | 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) | |||||||||||||||||||||||||
| Net income (loss) attributable to Ford Motor Company | 2,049) | (1,327) | 2,548) | (11,064) | 2,447) | (36) | 471) | 1,824) | 892) | 1,831) | 1,332) | (526) | 1,199) | 1,917) | 1,757) | 1,289) | (827) | 667) | (3,110) | ||||||
| Add: Net income attributable to noncontrolling interest | —) | 5) | 3) | 10) | 1) | 7) | 2) | 7) | 4) | 2) | 2) | 3) | (26) | 99) | (94) | (30) | (103) | (29) | (9) | ||||||
| Add: Income tax expense | 97) | (711) | 361) | (3,756) | (630) | 570) | 148) | 483) | (27) | 605) | 278) | (1,344) | 214) | 272) | 496) | (93) | (195) | 153) | (729) | ||||||
| Add: Interest expense on Company debt excluding Ford Credit | 385) | 357) | 350) | 348) | 321) | 297) | 288) | 295) | 272) | 270) | 278) | 366) | 324) | 304) | 308) | 318) | 321) | 312) | 308) | ||||||
| Earnings before interest and tax (EBIT) | 2,531) | (1,676) | 3,262) | (14,462) | 2,139) | 838) | 909) | 2,609) | 1,141) | 2,708) | 1,890) | (1,501) | 1,711) | 2,592) | 2,467) | 1,484) | (804) | 1,103) | (3,540) | ||||||
| Solvency Ratio | |||||||||||||||||||||||||
| Interest coverage1 | -7.18 | -7.80 | -6.25 | -8.43 | 5.41 | 4.77 | 6.55 | 7.49 | 3.57 | 3.88 | 3.69 | 4.05 | 6.58 | 4.59 | 3.38 | -1.40 | 6.10 | 7.71 | 7.10 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Interest Coverage, Competitors2 | |||||||||||||||||||||||||
| General Motors Co. | 8.21 | 4.04 | 4.95 | 5.29 | 7.21 | 10.22 | 11.75 | 11.07 | 15.31 | 14.65 | 13.66 | 12.42 | 13.39 | 13.65 | 12.65 | 12.75 | 12.89 | 11.56 | 13.21 | ||||||
| Tesla Inc. | 13.11 | 16.62 | 17.04 | 16.62 | 19.97 | 21.42 | 22.07 | 26.69 | 28.48 | 31.31 | 45.64 | 64.93 | 92.91 | 94.40 | 82.09 | 72.83 | 55.02 | 36.16 | 29.34 | ||||||
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 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 Q3 2026 Calculation
Interest coverage
= (EBITQ3 2026
+ EBITQ2 2026
+ EBITQ1 2026
+ EBITQ4 2025)
÷ (Interest expenseQ3 2026
+ Interest expenseQ2 2026
+ Interest expenseQ1 2026
+ Interest expenseQ4 2025)
= (2,531 + -1,676 + 3,262 + -14,462)
÷ (385 + 357 + 350 + 348)
= -7.18
2 Click competitor name to see calculations.
The interest coverage analysis reveals a pattern of significant volatility, characterized by periods of adequate solvency interrupted by severe downturns. While the ratio remained predominantly positive between early 2022 and late 2025, a sharp and sustained decline into negative territory is observed starting in the fourth quarter of 2025 and continuing through September 2026.
- Earnings Before Interest and Tax (EBIT) Performance
- EBIT exhibits extreme fluctuations throughout the analyzed period. Notable contractions occurred in March 2022, September 2022, December 2023, and most significantly in December 2025, where earnings dropped to negative 14,462 million US dollars. These intermittent losses create substantial instability in the company's ability to service debt from operational profits.
- Interest Expense Stability
- Interest expenses on company debt, excluding Ford Credit, remain relatively stable compared to EBIT. Costs generally fluctuate within a narrow band between 270 million and 385 million US dollars. A gradual upward trend in interest obligations is observable toward the end of the period, peaking at 385 million US dollars in September 2026.
- Interest Coverage Ratio Trends
- The interest coverage ratio shows a cyclical but deteriorating trend. The ratio peaked at 7.71 in June 2022 and maintained a generally healthy range between 3.38 and 7.49 for much of 2023 and 2024. However, a critical solvency shift occurs in December 2025, with the ratio falling to -8.43. This negative trajectory persists through 2026, with the ratio remaining between -6.25 and -7.80, indicating that operational earnings are insufficient to cover interest obligations during this timeframe.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?