Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Ford Motor Co., long-term (investment) activity ratios (quarterly data)
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).
The analysis of the financial ratios over the quarterly periods reveals distinct trends in the company's operational efficiency and asset management.
- Net Fixed Asset Turnover
-
This ratio, which measures efficiency in using fixed assets to generate sales, shows a clear upward trend starting from 3.13 in the first noted quarter to a peak around 4.18 in late 2023. The ratio remains relatively stable above 4.0 in subsequent quarters, indicating improved utilization of fixed assets over time. However, a slight decline is observed towards the latest periods, falling to 3.93 by mid-2025, suggesting a marginal decrease in fixed asset productivity.
- Total Asset Turnover
-
The total asset turnover ratio exhibits a gradual increase from 0.43 to approximately 0.61 over the observed quarters. This steady improvement indicates enhanced efficiency in generating revenue from the overall asset base. The ratio stabilizes around 0.6 during the later periods, highlighting consistent asset use effectiveness.
- Equity Turnover
-
Equity turnover demonstrates more variability. Initially, it declines from about 3.78 to 2.60, reflecting slower revenue generation relative to equity early in the period. Subsequently, the ratio recovers steadily, reaching close to 3.89 and maintaining near this level towards the later quarters. This pattern may imply fluctuations in equity efficiency possibly linked to changes in capital structure or equity investments before normalization.
Overall, the trends reveal a strengthening in the utilization of both fixed and total assets to generate sales, supported by a recovery in equity turnover efficiency after an early dip. These patterns suggest improving operational effectiveness and asset management over the timeline, with some indication of potential deceleration in fixed asset productivity in the most recent quarters.
Net Fixed Asset Turnover
Ford Motor Co., net fixed asset turnover calculation (quarterly data)
| 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) | |||||||||||||||||||||||||||||
| Company revenues excluding Ford Credit | 46,943) | 37,422) | 44,936) | 43,069) | 44,811) | 39,890) | 43,213) | 41,176) | 42,427) | 39,085) | 41,745) | 37,205) | 37,934) | 32,195) | 35,305) | 33,249) | 24,149) | 33,565) | 33,229) | 34,727) | 16,632) | 31,353) | |||||||
| Net property | 43,877) | 42,471) | 41,928) | 41,169) | 40,709) | 40,515) | 40,821) | 39,370) | 38,503) | 37,970) | 37,265) | 35,529) | 36,162) | 36,625) | 37,139) | 36,597) | 36,723) | 36,361) | 37,083) | 36,118) | 35,276) | 35,294) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Net fixed asset turnover1 | 3.93 | 4.01 | 4.12 | 4.15 | 4.15 | 4.11 | 4.06 | 4.18 | 4.17 | 4.11 | 4.00 | 4.01 | 3.84 | 3.41 | 3.40 | 3.39 | 3.42 | 3.25 | 3.13 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| General Motors Co. | 3.28 | 3.30 | 3.31 | 3.25 | 3.19 | 3.12 | 3.13 | 3.20 | 3.26 | 3.15 | 3.18 | 3.14 | 2.84 | 2.81 | 2.76 | 2.96 | 3.24 | 2.87 | 2.89 | — | — | — | |||||||
| Tesla Inc. | 2.40 | 2.58 | 2.73 | 2.69 | 2.90 | 3.01 | 3.26 | 3.46 | 3.56 | 3.45 | 3.46 | 3.41 | 3.18 | 3.11 | 2.85 | 2.71 | 2.67 | 2.59 | 2.47 | — | — | — | |||||||
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
Net fixed asset turnover
= (Company revenues excluding Ford CreditQ2 2025
+ Company revenues excluding Ford CreditQ1 2025
+ Company revenues excluding Ford CreditQ4 2024
+ Company revenues excluding Ford CreditQ3 2024)
÷ Net property
= (46,943 + 37,422 + 44,936 + 43,069)
÷ 43,877 = 3.93
2 Click competitor name to see calculations.
The data reveals several notable trends in the financial performance and asset utilization over the multiple quarterly periods analyzed.
- Company Revenues excluding Ford Credit
-
Revenues displayed significant volatility with initial fluctuations in 2020, starting at approximately 31.35 billion USD in the first quarter of 2020, sharply falling to 16.63 billion USD in the second quarter of 2020 likely due to external disruptions, then recovering strongly to over 34 billion USD by the third quarter of 2020. Following this, revenue generally trended upward with some quarter-to-quarter variability, reaching a peak of about 44.81 billion USD in the third quarter of 2024 before a decline in the subsequent quarters, ending around 37.42 billion USD in the first quarter of 2025. The overall pattern reflects resilience and recovery with intermittent periods of contraction.
- Net Property
-
Net property values remained relatively stable throughout the timeframe, fluctuating modestly between approximately 35 billion USD and 44 billion USD. The figures show a gradual increase, particularly noticeable from 2022 onward, rising from about 36.16 billion USD in the second quarter of 2022 to nearly 43.88 billion USD by the fourth quarter of 2025, indicating ongoing investment or valuation adjustments in property assets over the period.
- Net Fixed Asset Turnover
-
This ratio, which measures how efficiently the company utilizes its fixed assets to generate revenue, shows a marked improvement beginning in the third quarter of 2020 at 3.13. It climbs steadily with minor fluctuations, peaking at slightly above 4.18 in the first quarter of 2024. Following this peak, there is a slow but steady decline through the last recorded quarters, ending just below 4.0 in the second quarter of 2025. This suggests the company improved asset efficiency significantly after 2020, with a slight decrease in efficiency toward the end of the period, possibly due to increasing asset base or operational shifts.
Total Asset Turnover
Ford Motor Co., total asset turnover calculation (quarterly data)
| 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) | |||||||||||||||||||||||||||||
| Company revenues excluding Ford Credit | 46,943) | 37,422) | 44,936) | 43,069) | 44,811) | 39,890) | 43,213) | 41,176) | 42,427) | 39,085) | 41,745) | 37,205) | 37,934) | 32,195) | 35,305) | 33,249) | 24,149) | 33,565) | 33,229) | 34,727) | 16,632) | 31,353) | |||||||
| Total assets | 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) | 257,035) | 252,677) | 248,532) | 260,819) | 267,261) | 259,943) | 269,366) | 264,150) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Total asset turnover1 | 0.59 | 0.60 | 0.61 | 0.60 | 0.61 | 0.61 | 0.61 | 0.61 | 0.60 | 0.61 | 0.58 | 0.58 | 0.56 | 0.49 | 0.49 | 0.49 | 0.51 | 0.45 | 0.43 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| General Motors Co. | 0.59 | 0.61 | 0.61 | 0.58 | 0.58 | 0.58 | 0.58 | 0.56 | 0.57 | 0.55 | 0.55 | 0.52 | 0.47 | 0.47 | 0.46 | 0.49 | 0.52 | 0.46 | 0.46 | — | — | — | |||||||
| Tesla Inc. | 0.72 | 0.77 | 0.80 | 0.81 | 0.84 | 0.87 | 0.91 | 1.02 | 1.04 | 0.99 | 0.99 | 1.01 | 0.98 | 0.94 | 0.87 | 0.81 | 0.76 | 0.68 | 0.60 | — | — | — | |||||||
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
Total asset turnover
= (Company revenues excluding Ford CreditQ2 2025
+ Company revenues excluding Ford CreditQ1 2025
+ Company revenues excluding Ford CreditQ4 2024
+ Company revenues excluding Ford CreditQ3 2024)
÷ Total assets
= (46,943 + 37,422 + 44,936 + 43,069)
÷ 292,725 = 0.59
2 Click competitor name to see calculations.
The financial data reveals several noteworthy trends regarding revenues, total assets, and asset turnover ratios over the observed periods. Revenues experienced significant fluctuations initially, starting at a high of 31,353 million US$ in March 2020, dipping sharply to 16,632 million US$ in June 2020, which may be indicative of external disruptions affecting business operations. Subsequently, revenues recovered and demonstrated an overall upward trajectory, reaching peaks near or above 40,000 million US$ from late 2022 through 2025, with occasional mild declines suggesting some variability but overall growth momentum into the most recent quarters.
Total assets exhibited a downward movement early on, decreasing from approximately 264,150 million US$ in March 2020 to 245,755 million US$ by June 2022. After this period, total assets showed a gradual increase, climbing back to around 292,725 million US$ by June 2025, which may indicate reinvestments, asset acquisitions, or valuation changes that bolstered the asset base in more recent periods.
The total asset turnover ratio, which began to be reported from September 2020 onward, generally shows an improving trend. Starting at 0.43, it increased to approximately 0.61 by the end of the latest periods. This improvement suggests enhanced efficiency in utilizing assets to generate revenue, reflecting better operational performance or asset management over time. The ratio remained relatively stable at or near 0.6 in the last several quarters, indicating consistent asset usage efficiency.
- Revenues
- Highly volatile in early 2020 with a sharp decline followed by recovery and sustained growth through 2025, reaching peaks above 40,000 million US$. Mild fluctuations occurred but the overall trend was upward.
- Total Assets
- Initial declines until mid-2022 followed by gradual increases through 2025. This could reflect strategic asset management including acquisitions or revaluations, stabilizing the asset base after an initial downward phase.
- Total Asset Turnover
- Started at a moderate 0.43 in late 2020 and improved to about 0.61 in recent periods, indicating growing efficiency in converting assets into revenue. The ratio plateaued near 0.6, reflecting steady asset utilization.
Equity Turnover
Ford Motor Co., equity turnover calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Company revenues excluding Ford Credit | 46,943) | 37,422) | 44,936) | 43,069) | 44,811) | 39,890) | 43,213) | 41,176) | 42,427) | 39,085) | 41,745) | 37,205) | 37,934) | 32,195) | 35,305) | 33,249) | 24,149) | 33,565) | 33,229) | 34,727) | 16,632) | 31,353) | |||||||
| Equity attributable to Ford Motor Company | 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) | 48,519) | 36,593) | 34,664) | 33,828) | 30,690) | 33,125) | 30,824) | 29,650) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Equity turnover1 | 3.83 | 3.81 | 3.85 | 3.86 | 3.88 | 3.89 | 3.88 | 3.71 | 3.67 | 3.68 | 3.45 | 3.39 | 3.14 | 2.78 | 2.60 | 3.39 | 3.63 | 3.49 | 3.78 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||||||
| General Motors Co. | 2.58 | 2.68 | 2.72 | 2.36 | 2.38 | 2.41 | 2.45 | 2.12 | 2.18 | 2.12 | 2.12 | 2.06 | 1.86 | 1.89 | 1.90 | 2.17 | 2.44 | 2.25 | 2.41 | — | — | — | |||||||
| Tesla Inc. | 1.20 | 1.28 | 1.34 | 1.39 | 1.43 | 1.47 | 1.55 | 1.79 | 1.84 | 1.79 | 1.82 | 1.88 | 1.85 | 1.82 | 1.78 | 1.73 | 1.69 | 1.56 | 1.42 | — | — | — | |||||||
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
Equity turnover
= (Company revenues excluding Ford CreditQ2 2025
+ Company revenues excluding Ford CreditQ1 2025
+ Company revenues excluding Ford CreditQ4 2024
+ Company revenues excluding Ford CreditQ3 2024)
÷ Equity attributable to Ford Motor Company
= (46,943 + 37,422 + 44,936 + 43,069)
÷ 45,057 = 3.83
2 Click competitor name to see calculations.
The quarterly financial data reveals several key trends and patterns over the observed periods.
- Company Revenues Excluding Ford Credit
-
Revenues exhibit notable volatility, with a distinct trough in the second quarter of 2020, dropping sharply to 16,632 million US dollars from over 31,000 million in the previous quarter. This decline likely reflects external economic conditions impacting sales during that period.
Following this dip, revenues recovered robustly, rising above pre-dip levels and generally trending upward through late 2022 and early 2023, peaking around 43,000 million US dollars in several quarters.
However, fluctuations continue with sales figures oscillating between 37,422 million and 46,943 million US dollars in the latest quarters, indicating ongoing variability but generally maintaining a high level relative to the initial periods observed.
- Equity Attributable to Ford Motor Company
-
Equity displays a broadly increasing trend over time, beginning near 29,650 million US dollars and rising steadily with some intermittent declines.
During 2020, equity values increased gradually, with a notable spike in the last quarter reaching 48,519 million US dollars, potentially reflecting strong earnings retention or capital injections.
The subsequent periods show moderate fluctuations, but equity remains relatively stable in the 42,000 to 45,000 million US dollars range through 2022 and 2023, with minor variations suggesting controlled capital management and possibly dividend payouts or buybacks affecting absolute equity levels.
- Equity Turnover
-
Equity turnover ratios, reported from the third quarter of 2020 onward, begin at a high of 3.78 and experience a temporary decline to 2.6 in the first quarter of 2022. This dip suggests a relative slowdown in revenue generation efficiency against equity during that period.
After this low point, the ratio recovers steadily, moving back above 3.8 by late 2024, indicating improved utilization of equity in driving revenue growth.
The consistent rise in turnover ratio in the final quarters suggests enhancement in operational efficiency or revenue generating capacity relative to equity base.
Overall, the data illustrates a recovery and growth trajectory after the early 2020 downturn, with revenues recovering and expanding, equity generally increasing with intermittent volatility, and equity turnover ratios reflecting improved efficiency over the observed timeframe.