Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Ford Motor Co., profitability ratios (quarterly data)
Based on: 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).
- Gross Profit Margin
- The gross profit margin displayed a general upward trend from Q1 2021 through Q1 2023, peaking at just over 10% in early to late 2023. Following this peak, a gradual decline is observed through to Q3 2025, with margins drifting down to around 7%, indicating some pressure on the cost of goods sold or pricing power in more recent quarters.
- Operating Profit Margin
- Operating profit margin started negative in early 2021 but improved steadily over the year, reaching a relatively stable range between about 2% and 4.5% from 2022 onward. Despite some fluctuations, the margin maintained this positive corridor with occasional dips closer to 2% in late 2024 and mid-2025, suggesting ongoing operational challenges or increased operating expenses affecting profitability.
- Net Profit Margin
- The net profit margin showed considerable volatility, notably spiking dramatically to over 14% in Q4 2021 before declining sharply to a negative margin in Q4 2022. Post this decline, margins fluctuated generally between 1.8% and 3.8%, indicating variable bottom-line results potentially affected by non-operating factors, one-time gains or losses, or tax effects. The margin's instability implies challenges in sustaining consistent net profitability.
- Return on Equity (ROE)
- Return on equity echoed the net profit margin's volatility with a surge reaching nearly 37% in Q4 2021, followed by a significant drop to negative territory in Q4 2022. Since then, ROE has partly recovered but remained below the earlier peak, stabilizing around 7% to 13% through 2023 and into 2025. This pattern suggests episodic earnings enrichment combined with periods of diminished shareholder returns.
- Return on Assets (ROA)
- Return on assets followed a similar trend with a peak close to 7% in Q4 2021 and a trough in Q4 2022 with negative performance. Subsequently, ROA rebounded moderately but remained in a range between 1% and 2.3%. The comparatively low ROA indicates that asset utilization to generate net income is modest and subject to variability, which can reflect operational efficiency or asset base changes over time.
- Overall Analysis
- The company demonstrated a notable performance peak in late 2021 across key profitability metrics, including gross margin, operating margin, net margin, ROE, and ROA. Following this peak, there was a marked deterioration in profitability and returns in late 2022, including temporary losses at the net margin and ROE level. The subsequent periods reveal partial recovery and stabilization at levels lower than the peak but generally positive. The trends suggest sensitivity to market conditions or internal factors affecting cost management, operational efficiency, and capital utilization. Persistent fluctuations highlight the importance of closely monitoring cost structures and asset efficiency to enhance sustainable profitability going forward.
Return on Sales
Return on Investment
Gross Profit Margin
Ford Motor Co., gross profit margin calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Gross profit (loss) | 3,774) | 2,698) | 2,234) | 3,635) | 2,901) | 4,322) | 3,414) | 2,351) | 3,628) | 4,956) | 4,416) | 3,929) | 2,851) | 4,743) | 3,159) | 2,912) | 3,192) | 1,245) | 4,268) | ||||||
| Company revenues excluding Ford Credit | 47,185) | 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) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Gross profit margin1 | 6.99% | 6.65% | 7.69% | 8.26% | 7.60% | 8.11% | 8.61% | 9.25% | 10.30% | 10.07% | 10.22% | 9.85% | 9.58% | 10.10% | 8.41% | 9.20% | 7.13% | 7.30% | 5.61% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||
| General Motors Co. | 8.63% | 10.60% | 11.61% | 11.97% | 11.38% | 11.02% | 10.70% | 10.36% | 11.96% | 12.32% | 12.19% | 11.87% | 10.92% | 10.43% | 10.71% | 11.49% | 12.00% | 12.88% | 11.66% | ||||||
| Tesla Inc. | 17.01% | 17.48% | 17.66% | 17.86% | 18.23% | 17.72% | 17.78% | 18.25% | 19.81% | 21.49% | 23.13% | 25.60% | 26.61% | 27.10% | 27.10% | 25.28% | 23.11% | 22.04% | 21.18% | ||||||
Based on: 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).
1 Q3 2025 Calculation
Gross profit margin = 100
× (Gross profit (loss)Q3 2025
+ Gross profit (loss)Q2 2025
+ Gross profit (loss)Q1 2025
+ Gross profit (loss)Q4 2024)
÷ (Company revenues excluding Ford CreditQ3 2025
+ Company revenues excluding Ford CreditQ2 2025
+ Company revenues excluding Ford CreditQ1 2025
+ Company revenues excluding Ford CreditQ4 2024)
= 100 × (3,774 + 2,698 + 2,234 + 3,635)
÷ (47,185 + 46,943 + 37,422 + 44,936)
= 6.99%
2 Click competitor name to see calculations.
The analysis of the financial performance over the observed quarters reveals several noteworthy trends in profitability and revenue generation.
- Gross Profit (Loss)
- The gross profit exhibits considerable volatility across the reported periods. Starting from a high point of 4,268 million USD in the first quarter of 2021, it sharply declined to 1,245 million USD in the next quarter, followed by fluctuations with peaks near 4,956 million USD in Q2 2023. In later quarters, the gross profit demonstrates a declining trend interspersed with occasional recoveries, with values generally trending downward from early 2023 toward the end of 2025. This instability suggests variable cost structures or fluctuating sales prices impacting profitability.
- Company Revenues Excluding Ford Credit
- Revenues show an overall growth trajectory with some intermittent declines. Beginning at 33,565 million USD in Q1 2021, revenues decreased notably in Q2 2021 then rebounded over subsequent quarters, reaching a peak of 47,185 million USD by Q3 2025. Despite quarter-to-quarter variability, the longer-term trend is upward, indicating successful sales growth or volume expansion excluding financial services.
- Gross Profit Margin
- The gross profit margin percentage reflects both the fluctuations in gross profit and revenues. Starting at a relatively low 5.61% in Q1 2021, the margin rose sharply to above 10% during late 2021 and mid-2023, indicating improved cost efficiency or pricing power during those intervals. However, from late 2023 onwards, the margin declines steadily, dropping to around 6.65% to 6.99% in the trailing quarters of 2025. The downward margin trend suggests either increased production costs, pricing pressures, or changes in sales mix adversely affecting profitability despite increasing revenue.
In summary, the financial data highlights a generally robust increase in revenue over the extended period, contrasted by a more volatile and overall declining pattern in gross profit and profit margins in recent quarters. The divergence between revenue growth and gross profit deterioration underscores potential challenges in cost management or pricing strategy that may warrant further investigation.
Operating Profit Margin
Ford Motor Co., operating profit margin calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Operating income (loss) | 1,558) | 511) | 319) | 1,231) | 880) | 1,883) | 1,225) | (245) | 1,129) | 2,461) | 2,113) | 1,561) | 504) | 2,868) | 1,343) | 739) | 1,342) | (22) | 2,464) | ||||||
| Company revenues excluding Ford Credit | 47,185) | 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) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Operating profit margin1 | 2.05% | 1.71% | 2.53% | 3.02% | 2.19% | 2.36% | 2.74% | 3.29% | 4.42% | 4.14% | 4.52% | 4.21% | 3.82% | 4.54% | 2.72% | 3.58% | 1.08% | 1.87% | -0.33% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||
| General Motors Co. | 4.73% | 6.23% | 7.20% | 7.45% | 7.28% | 7.08% | 6.53% | 5.90% | 6.95% | 7.27% | 7.24% | 7.16% | 6.86% | 6.27% | 7.02% | 8.21% | 9.01% | 10.60% | 8.52% | ||||||
| Tesla Inc. | 4.74% | 6.06% | 6.59% | 7.24% | 7.78% | 6.93% | 7.81% | 9.19% | 11.18% | 13.46% | 14.78% | 16.76% | 16.52% | 15.91% | 15.33% | 12.12% | 9.57% | 7.86% | 6.41% | ||||||
Based on: 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).
1 Q3 2025 Calculation
Operating profit margin = 100
× (Operating income (loss)Q3 2025
+ Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024)
÷ (Company revenues excluding Ford CreditQ3 2025
+ Company revenues excluding Ford CreditQ2 2025
+ Company revenues excluding Ford CreditQ1 2025
+ Company revenues excluding Ford CreditQ4 2024)
= 100 × (1,558 + 511 + 319 + 1,231)
÷ (47,185 + 46,943 + 37,422 + 44,936)
= 2.05%
2 Click competitor name to see calculations.
- Operating Income (Loss) Trends
- Operating income exhibited notable volatility throughout the analyzed periods. Starting with a strong positive value in the first quarter of 2021, it sharply declined into a marginal loss by mid-2021, then partially recovered by year-end 2021. The first half of 2022 showed a significant increase, peaking before reducing again in the third quarter. In late 2022 and early 2023, operating income returned to relatively robust figures, though the final quarter of 2023 saw a negative dip. Beyond 2023, operating income fluctuated between moderate gains and some weakness, with no clear trend of consistent growth or decline. The variability suggests sensitivity to market conditions or operational challenges affecting profitability.
- Company Revenues Excluding Ford Credit
- Revenues showed a generally upward trajectory across the period, with some short-term declines. The data begins with a mid-thirty-thousand-million-dollar range and experienced a dip in the second quarter of 2021. Subsequently, revenues rebounded and consistently increased through 2022 and into 2023, occasionally demonstrating minor declines but reaching new highs by the end of this timeframe. The trends from 2024 onwards indicate sustained revenue growth, culminating in the highest recorded revenue figures in the final quarters. Overall, the revenue pattern suggests successful expansion or improved sales volumes, notwithstanding some intermittent fluctuations.
- Operating Profit Margin (%)
- The operating profit margin percentage began with a marginal negative figure in early 2021, followed by an immediate recovery and stabilization in positive territory. Margins improved progressively through 2021, reaching a peak in mid-2022 with values above 4%, indicating enhanced operational efficiency or favorable cost management. Throughout late 2022 and into 2023, margins fluctuated moderately between approximately 3% and 4.5%, with some decline towards the end of 2023. Subsequently, the margin percentages experienced gradual diminishment in 2024 and 2025, settling closer to the 2% mark. This downward movement suggests increasing cost pressures or diminished pricing power despite revenue gains.
- Overall Financial Insights
- The company demonstrated resilience in revenue generation, consistently increasing sales outside of financial services. However, operating income and profit margins exhibited marked volatility, reflecting challenges in maintaining consistent profitability levels. Periods of strong income were interspersed with losses and lower profitability, suggesting an ongoing need to address operational efficiency and cost management. The divergence between rising revenues and fluctuating operating margins may point to increased expenses or competitive pressures impacting profitability. Continued monitoring of cost structures and market dynamics will be essential to translate revenue growth into stable profit improvement.
Net Profit Margin
Ford Motor Co., net profit margin calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income (loss) attributable to Ford Motor Company | 2,447) | (36) | 471) | 1,824) | 892) | 1,831) | 1,332) | (526) | 1,199) | 1,917) | 1,757) | 1,289) | (827) | 667) | (3,110) | 12,282) | 1,832) | 561) | 3,262) | ||||||
| Company revenues excluding Ford Credit | 47,185) | 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) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Net profit margin1 | 2.67% | 1.83% | 2.95% | 3.40% | 2.06% | 2.27% | 2.35% | 2.62% | 3.75% | 2.58% | 1.85% | -1.33% | 6.32% | 8.42% | 9.26% | 14.21% | 2.31% | 2.72% | 3.37% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||
| General Motors Co. | 1.79% | 2.79% | 3.37% | 3.50% | 6.62% | 6.80% | 6.69% | 6.42% | 6.33% | 6.56% | 6.35% | 6.90% | 7.20% | 7.37% | 8.47% | 8.82% | 9.48% | 10.12% | 8.43% | ||||||
| Tesla Inc. | 5.31% | 6.34% | 6.38% | 7.26% | 13.27% | 13.19% | 14.64% | 15.50% | 11.21% | 12.97% | 13.66% | 15.41% | 14.95% | 14.17% | 13.51% | 10.25% | 7.40% | 5.21% | 3.18% | ||||||
Based on: 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).
1 Q3 2025 Calculation
Net profit margin = 100
× (Net income (loss) attributable to Ford Motor CompanyQ3 2025
+ Net income (loss) attributable to Ford Motor CompanyQ2 2025
+ Net income (loss) attributable to Ford Motor CompanyQ1 2025
+ Net income (loss) attributable to Ford Motor CompanyQ4 2024)
÷ (Company revenues excluding Ford CreditQ3 2025
+ Company revenues excluding Ford CreditQ2 2025
+ Company revenues excluding Ford CreditQ1 2025
+ Company revenues excluding Ford CreditQ4 2024)
= 100 × (2,447 + -36 + 471 + 1,824)
÷ (47,185 + 46,943 + 37,422 + 44,936)
= 2.67%
2 Click competitor name to see calculations.
- Net Income (Loss) Trend
- The net income attributable to the company exhibits considerable volatility over the analyzed periods. Initially, the income fluctuates, with significant positive spikes, notably a peak at the end of 2021, reaching 12,282 million USD. This is followed by a sharp decline into negative territory in early 2022, with a loss of -3,110 million USD. Subsequent quarters show alternating positive and negative results, though magnitudes tend to moderate over time. In the most recent quarters, net income shows a positive trend again, including a notable increase towards the end of 2025, reaching 2,447 million USD. This pattern indicates an unstable profitability environment with intermittent large gains and losses.
- Company Revenues Excluding Ford Credit
- Revenues demonstrate a generally increasing trend across the period, notwithstanding some fluctuations. Starting from 33,565 million USD in March 2021, revenues experience ups and downs but display an overall upward trajectory, peaking around 47,185 million USD in the third quarter of 2025. Although there are quarters with slight dips, the underlying revenue growth is sustained, indicating expanding sales or higher generated income from non-credit activities.
- Net Profit Margin Analysis
- The net profit margin percentage shows variability that mirrors the fluctuations in net income. Margins reach a high of 14.21% at the end of 2021, reflecting exceptional profitability during that period. However, margins dip to negative values subsequently, notably -1.33% at the end of 2022, highlighting periods of operational or extraordinary losses. Post that low, the profit margin stabilizes around low single-digit positive percentages, generally between 1.8% and 3.4%, suggesting modest profitability relative to revenues in most recent quarters.
- Summary of Financial Stability and Performance
- The company shows strong revenue growth but uneven profitability, as evidenced by volatile net income and fluctuating profit margins. Large swings in net income and periods of losses reflect potential exposure to extraordinary events or operational challenges. Despite these fluctuations, the restoration of positive net income and consistent revenue growth across recent quarters indicate resilience and a potential return to steadier financial performance.
Return on Equity (ROE)
Ford Motor Co., ROE calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income (loss) attributable to Ford Motor Company | 2,447) | (36) | 471) | 1,824) | 892) | 1,831) | 1,332) | (526) | 1,199) | 1,917) | 1,757) | 1,289) | (827) | 667) | (3,110) | 12,282) | 1,832) | 561) | 3,262) | ||||||
| Equity attributable to Ford Motor Company | 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) | 48,519) | 36,593) | 34,664) | 33,828) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROE1 | 9.93% | 6.99% | 11.24% | 13.11% | 7.96% | 8.80% | 9.15% | 10.16% | 13.92% | 9.47% | 6.81% | -4.58% | 21.39% | 26.42% | 25.71% | 36.97% | 7.83% | 9.87% | 11.75% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||
| General Motors Co. | 4.59% | 7.19% | 9.03% | 9.53% | 15.61% | 16.14% | 16.08% | 15.75% | 13.46% | 14.32% | 13.44% | 14.65% | 14.83% | 13.75% | 16.00% | 16.77% | 20.54% | 24.67% | 18.94% | ||||||
| Tesla Inc. | 6.35% | 7.61% | 8.18% | 9.73% | 18.43% | 18.91% | 21.55% | 23.94% | 20.12% | 23.85% | 24.45% | 28.09% | 28.08% | 26.16% | 24.64% | 18.28% | 12.82% | 8.79% | 4.97% | ||||||
Based on: 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).
1 Q3 2025 Calculation
ROE = 100
× (Net income (loss) attributable to Ford Motor CompanyQ3 2025
+ Net income (loss) attributable to Ford Motor CompanyQ2 2025
+ Net income (loss) attributable to Ford Motor CompanyQ1 2025
+ Net income (loss) attributable to Ford Motor CompanyQ4 2024)
÷ Equity attributable to Ford Motor Company
= 100 × (2,447 + -36 + 471 + 1,824)
÷ 47,392 = 9.93%
2 Click competitor name to see calculations.
- Net Income Trends
- The net income attributable to the company exhibits notable volatility across the reported periods. Initially, the figures show a significant peak at the end of 2021 with a strong positive surge, followed by a marked decline into negative territory at the start of 2022. Subsequently, the company's quarterly net income oscillates between positive and negative values, indicating periods of profitability interspersed with losses. Despite these fluctuations, recent quarters reflect a return to positive net income, with the highest value observed in the last reported quarter. This pattern suggests recurrent operational and market challenges impacting earnings, along with some recovery phases.
- Equity Fluctuations
- Equity attributable to the company demonstrates an overall upward trajectory over the period, starting at just over 33 billion and advancing to a level exceeding 47 billion by the most recent quarter. While some quarters reveal slight setbacks or plateaus, the general trend denotes growth and strengthening of the equity base. The equity increase appears gradual and steady, which may indicate consistent capital retention or accretion from comprehensive income, despite fluctuations in profitability.
- Return on Equity (ROE) Analysis
- The return on equity (ROE) presents substantial variability, aligning somewhat with the trends in net income. After an initial moderate range, ROE spikes dramatically at the end of 2021 indicating an exceptionally strong return that quarter. This is followed by a sharp decline to a negative percentage during a later quarter, reflecting the impact of losses on shareholder returns. Overall, ROE exhibits a pattern of recovery post-decline but settles into a moderate range in recent quarters, generally between approximately 7% and 13%. The variability in ROE highlights fluctuating efficiency in generating profits from equity capital over the reported periods.
- Summary Insights
- The financial data reflects a company experiencing cyclical financial performance characterized by substantial swings in net income and profitability ratios, while maintaining a generally growing equity base. The observed net income volatility and corresponding ROE fluctuations may be linked to market conditions, operational challenges, or cyclicality inherent in the industry. The steady growth in equity suggests prudent capital management or accumulated retained earnings despite earnings variability. Recent quarters indicate improved profitability and a more stabilized return on equity, though the data underscores ongoing financial performance variability requiring continued monitoring and strategic management.
Return on Assets (ROA)
Ford Motor Co., ROA calculation (quarterly data)
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income (loss) attributable to Ford Motor Company | 2,447) | (36) | 471) | 1,824) | 892) | 1,831) | 1,332) | (526) | 1,199) | 1,917) | 1,757) | 1,289) | (827) | 667) | (3,110) | 12,282) | 1,832) | 561) | 3,262) | ||||||
| Total assets | 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) | 257,035) | 252,677) | 248,532) | 260,819) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROA1 | 1.56% | 1.08% | 1.76% | 2.06% | 1.23% | 1.39% | 1.43% | 1.59% | 2.30% | 1.55% | 1.12% | -0.77% | 3.65% | 4.75% | 4.57% | 6.98% | 1.13% | 1.38% | 1.52% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||
| General Motors Co. | 1.06% | 1.65% | 2.06% | 2.15% | 3.83% | 3.92% | 3.87% | 3.71% | 3.56% | 3.72% | 3.52% | 3.76% | 3.71% | 3.47% | 3.95% | 4.09% | 4.66% | 5.27% | 3.84% | ||||||
| Tesla Inc. | 3.80% | 4.58% | 4.88% | 5.81% | 10.76% | 11.14% | 12.70% | 14.07% | 11.45% | 13.46% | 13.53% | 15.25% | 15.04% | 13.89% | 12.72% | 8.88% | 6.00% | 3.95% | 2.16% | ||||||
Based on: 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).
1 Q3 2025 Calculation
ROA = 100
× (Net income (loss) attributable to Ford Motor CompanyQ3 2025
+ Net income (loss) attributable to Ford Motor CompanyQ2 2025
+ Net income (loss) attributable to Ford Motor CompanyQ1 2025
+ Net income (loss) attributable to Ford Motor CompanyQ4 2024)
÷ Total assets
= 100 × (2,447 + -36 + 471 + 1,824)
÷ 300,990 = 1.56%
2 Click competitor name to see calculations.
- Net Income (Loss) attributable to the Company
- The net income exhibits significant volatility over the observed periods. Starting with moderate profits in early 2021, the company experienced a sharp increase in net income in the fourth quarter of 2021, reaching a peak before entering a period of negative values and fluctuating between losses and gains throughout 2022. From 2023 onward, net income returned to predominantly positive figures with occasional declines, indicating intermittent profitability challenges. The values suggest cyclical performance with recovery phases following downturns.
- Total Assets
- Total assets show a generally upward trend over the entire period, increasing from approximately 260.8 billion US dollars in early 2021 to around 301 billion US dollars by the first quarter of 2025. The asset base expanded steadily, with minor fluctuations, reflecting potential investments or asset accumulation. This growth in assets indicates an overall strengthening of the company's balance sheet position.
- Return on Assets (ROA)
- ROA displayed fluctuations consistent with the net income trends. Initially moderate in early 2021, ROA peaked significantly in the fourth quarter of 2021 at nearly 7%, followed by a decline into negative territory by the end of 2021 and early 2022. Subsequent periods reveal a recovery to low positive percentages, generally fluctuating between approximately 1% to 2%, with occasional declines below 1%. This pattern suggests variations in profitability relative to the asset base, with some quarters underperforming in asset utilization efficiency.
- Summary of Financial Trends
- The financial data indicates a period of instability marked by wide swings in net income, including notable losses, offset by periods of strong profitability. Despite earnings volatility, the company’s total asset base has consistently grown, implying ongoing capital investment or asset acquisition strategies. ROA trends mirror the profit fluctuations, reflecting periods of both effective and subdued asset utilization. The overall picture portrays a company experiencing operational and market challenges impacting earnings but maintaining a growth trajectory in its asset base and showing resilience in profitability over time.