Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Ford Motor Co., historical price multiples (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).
- Price to Earnings (P/E) Ratio
- The P/E ratio exhibits fluctuations with notable volatility from 2020 through mid-2025. Starting at 11.3 in early 2021, it peaked at 23.5 around September 2021 before dropping sharply to 4.01 in December 2021. Subsequently, the ratio stabilized between approximately 5 and 16, showing a series of moderate rises and falls. The latter periods from 2023 to mid-2025 show values ranging from around 6.24 to 13.98, indicating a more stabilized but somewhat fluctuating valuation relative to earnings. This variability suggests periods of changing market sentiment or earnings performance.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio trends suggest significant volatility and an overall declining pattern following mid-2021. Early measurements in 2021 reached notably high levels, exceeding 50 in the fourth quarter, indicating high valuation relative to operating profits. However, from late 2021 through 2023 and into 2024, the ratio generally trended lower, fluctuating between roughly 5.5 and 15. The more recent data to mid-2025 indicates values mostly in the range of 7 to 15, implying a market valuation more closely aligned with operating profitability, albeit with some variation.
- Price to Sales (P/S) Ratio
- The P/S ratio shows a gradual decline over the observed period, starting near 0.54 at the end of 2020 and decreasing to levels around 0.21 to 0.26 by mid-2025. The steady downward trend suggests that the market price relative to the company's sales has diminished over time. This could reflect either an increase in sales outpacing price increases, or a decrease in market valuation relative to sales, possibly indicating changing investor expectations or market conditions.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio demonstrates a fluctuating but gently declining trend through the timeline. Initial values in 2020 were below 1, indicating market prices less than book value, followed by a rise peaking near 1.84 in mid-2021. Afterward, the ratio showed a gradual decline to levels between approximately 0.82 and 1.21 in subsequent periods through mid-2025. The intermittently dropping ratio below or near 1 may signal a market perception of the company's value not significantly exceeding its net asset base, possibly reflecting cautious investor sentiment or book value growth outpacing price appreciation.
Price to Earnings (P/E)
Ford Motor Co., historical P/E 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,979,860,297 | 3,976,548,845 | 3,963,447,704 | 3,974,288,593 | 3,975,249,685 | 3,992,337,157 | 3,973,633,108 | 4,002,954,437 | 4,002,225,602 | 4,000,770,326 | 3,986,181,861 | 4,020,494,099 | 4,020,237,518 | 4,019,765,355 | 4,004,247,552 | 3,996,241,503 | 3,994,764,392 | 3,991,644,459 | 3,978,695,017 | 3,978,427,360 | 3,978,388,996 | 3,977,039,943 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Net income (loss) attributable to Ford Motor Company (in millions) | (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) | (2,788) | 2,385) | 1,117) | (1,993) | |||||||
| Earnings per share (EPS)2 | 0.79 | 1.26 | 1.48 | 0.89 | 0.96 | 0.98 | 1.09 | 1.54 | 1.03 | 0.72 | -0.50 | 2.24 | 2.90 | 2.88 | 4.48 | 0.72 | 0.86 | 1.00 | -0.32 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 11.07 | 10.44 | 9.26 | 10.41 | 11.16 | 13.04 | 12.80 | 9.96 | 13.26 | 11.79 | 13.23 | 13.00 | 14.00 | 14.62 | 17.96 | 16.86 | 14.39 | 11.26 | 11.51 | 7.90 | 6.61 | 5.26 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/E ratio4 | 13.98 | 8.27 | 6.24 | 11.72 | 11.57 | 13.27 | 11.70 | 6.47 | 12.83 | 16.34 | — | 5.80 | 4.82 | 5.08 | 4.01 | 23.50 | 16.81 | 11.30 | — | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||
| General Motors Co. | 7.13 | 5.71 | 6.93 | 5.37 | 4.74 | 4.84 | 4.39 | 3.94 | 5.13 | 4.92 | 6.15 | 6.09 | 6.29 | 6.37 | 7.90 | 7.20 | 6.09 | 9.31 | 12.66 | — | — | — | |||||||
| Tesla Inc. | 167.41 | 132.18 | 181.57 | 64.89 | 54.89 | 37.27 | 40.55 | 62.68 | 70.03 | 43.84 | 43.65 | 59.61 | 88.39 | 123.10 | 169.91 | 296.78 | 292.69 | 585.25 | 1,149.47 | — | — | — | |||||||
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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (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
+ Net income (loss) attributable to Ford Motor CompanyQ3 2024)
÷ No. shares of common stock outstanding
= (-36,000,000 + 471,000,000 + 1,824,000,000 + 892,000,000)
÷ 3,979,860,297 = 0.79
3 Closing price as at the filing date of Ford Motor Co. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= 11.07 ÷ 0.79 = 13.98
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited a general upward trend from March 2020 through the end of 2021, increasing from $5.26 to a peak of $17.96 in December 2021. However, starting in early 2022, the share price showed increased volatility and a downward trend, declining to $9.96 by September 2023. Modest recoveries and declines followed, with the price closing at $11.07 by June 2025. Overall, the price experienced notable fluctuations after 2021, suggesting external pressures or changes in market perception.
- Earnings per Share (EPS)
- EPS figures were initially unavailable until late 2020, when a loss of $0.32 was reported in December 2020. From early 2021 onward, the EPS mostly remained positive, experiencing some oscillations. The highest recorded EPS was $4.48 in December 2021, followed by a general decline thereafter. Several quarters showed moderate positive EPS values around $1.00, while a negative value of -$0.5 was noted in December 2022. From 2023 through mid-2025, EPS stabilized in the range between $0.79 and $1.54, indicating relatively steady earnings performance after initial volatility.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio data is sparse for early 2020 but becomes available from early 2021. It peaked at 23.5 in September 2021 correlating with the strong EPS and share price at that time. Following this peak, the ratio declined sharply to 4.01 by December 2021, consistent with the rising EPS in relation to somewhat falling share price. The P/E ratio fluctuated subsequently, with periods of moderate increases and decreases, reaching values between approximately 6 and 16 toward 2023 and early 2024. This variation indicates changing investor expectations and earnings performance, with relatively lower valuations during periods of stronger EPS and higher valuations during more modest earnings.
- Overall Trends and Insights
- The data reveals a period of growth and recovery from low share prices and negative EPS in 2020 to improved earnings and stock valuations by the end of 2021. After peaking in late 2021, both share price and EPS experienced volatility and softening, with EPS stabilizing at moderate positive levels while the share price experienced fluctuations. The P/E ratio adjustments reflect shifting market sentiment in response to earnings changes. The combined trends suggest the company faced an initial recovery phase followed by a period of greater uncertainty and market adjustment starting in 2022, with some stabilization in earnings but less consistent share price appreciation.
Price to Operating Profit (P/OP)
Ford Motor Co., historical P/OP 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,979,860,297 | 3,976,548,845 | 3,963,447,704 | 3,974,288,593 | 3,975,249,685 | 3,992,337,157 | 3,973,633,108 | 4,002,954,437 | 4,002,225,602 | 4,000,770,326 | 3,986,181,861 | 4,020,494,099 | 4,020,237,518 | 4,019,765,355 | 4,004,247,552 | 3,996,241,503 | 3,994,764,392 | 3,991,644,459 | 3,978,695,017 | 3,978,427,360 | 3,978,388,996 | 3,977,039,943 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Operating income (loss) (in millions) | 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) | (2,442) | 2,351) | (2,759) | (1,558) | |||||||
| Operating profit per share2 | 0.74 | 1.08 | 1.32 | 0.94 | 1.00 | 1.14 | 1.37 | 1.81 | 1.66 | 1.76 | 1.57 | 1.36 | 1.57 | 0.85 | 1.13 | 0.34 | 0.59 | -0.10 | -1.11 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 11.07 | 10.44 | 9.26 | 10.41 | 11.16 | 13.04 | 12.80 | 9.96 | 13.26 | 11.79 | 13.23 | 13.00 | 14.00 | 14.62 | 17.96 | 16.86 | 14.39 | 11.26 | 11.51 | 7.90 | 6.61 | 5.26 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/OP ratio4 | 14.98 | 9.63 | 7.03 | 11.05 | 11.11 | 11.39 | 9.32 | 5.49 | 7.99 | 6.69 | 8.40 | 9.58 | 8.95 | 17.27 | 15.90 | 50.21 | 24.45 | — | — | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||
| General Motors Co. | 4.37 | 3.49 | 3.89 | 4.85 | 4.52 | 4.92 | 4.74 | 3.56 | 4.59 | 4.28 | 5.32 | 5.70 | 6.50 | 6.84 | 8.34 | 7.45 | 5.73 | 9.03 | 11.92 | — | — | — | |||||||
| Tesla Inc. | 175.16 | 128.11 | 181.95 | 110.65 | 104.48 | 69.89 | 68.39 | 62.84 | 67.50 | 40.51 | 40.14 | 53.94 | 78.73 | 108.47 | 143.76 | 229.48 | 194.03 | 290.22 | 415.63 | — | — | — | |||||||
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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Operating income (loss)Q2 2025
+ Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024
+ Operating income (loss)Q3 2024)
÷ No. shares of common stock outstanding
= (511,000,000 + 319,000,000 + 1,231,000,000 + 880,000,000)
÷ 3,979,860,297 = 0.74
3 Closing price as at the filing date of Ford Motor Co. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 11.07 ÷ 0.74 = 14.98
5 Click competitor name to see calculations.
The share price exhibited a generally upward trajectory from March 31, 2020, starting at $5.26 and peaking at $17.96 by December 31, 2021. Following this peak, the share price experienced a downward adjustment, fluctuating between $9.26 and $13.26 from March 31, 2023, to June 30, 2024. A moderate recovery was observed towards the end of the period, with values ending at $11.07 on June 30, 2025.
Operating profit per share (OP per share) was initially negative, reaching a low of -$1.11 at the end of 2020. Starting from the first quarter of 2021, this metric showed a consistent positive trend, climbing to $1.81 by December 31, 2023. Following this peak, a slight decline occurred, with OP per share decreasing to $0.74 by June 30, 2025. Notably, this indicates improved operational performance after 2020, with a relatively stable positive performance afterward.
The Price-to-Operating-Profit ratio (P/OP) showed considerable volatility across the observed quarters. Early data points are missing, but from September 30, 2021, onward, the ratio fluctuated significantly, reaching as high as 50.21 and as low as 5.49 over the span. The highest P/OP ratios corresponded to quarters when operating profit per share was low or recovering, reflecting comparatively higher valuation relative to earnings. More recently, the ratio has tended to stabilize somewhat, though increasing again towards mid-2025, suggesting fluctuating investor sentiment or varying profit expectations relative to share price.
Overall, the data reflects a recovery in operational profitability following losses during 2020, with share price growth supporting this trend until late 2021. The subsequent volatility in share price and valuation multiples from 2022 onward suggests increased market uncertainty or changes in investor expectations. The operating profitability has remained positive but with a modest decreasing trend in the final observed periods, potentially indicating emerging challenges or shifts in operational conditions.
- Share Price
- General upward trend from $5.26 (Q1 2020) to $17.96 (Q4 2021), followed by a period of volatility and partial recovery, ending at $11.07 (Q2 2025).
- Operating Profit per Share
- Negative at the beginning, reaching -$1.11 (Q4 2020), turning positive in 2021, peaking at $1.81 (Q4 2023), then moderately declining to $0.74 (Q2 2025).
- Price-to-Operating-Profit Ratio (P/OP)
- Highly variable, ranging from 5.49 to 50.21, mirroring changes in operating profitability and share price valuation, with periods of high ratio during operating profit recoveries.
Price to Sales (P/S)
Ford Motor Co., historical P/S calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,979,860,297 | 3,976,548,845 | 3,963,447,704 | 3,974,288,593 | 3,975,249,685 | 3,992,337,157 | 3,973,633,108 | 4,002,954,437 | 4,002,225,602 | 4,000,770,326 | 3,986,181,861 | 4,020,494,099 | 4,020,237,518 | 4,019,765,355 | 4,004,247,552 | 3,996,241,503 | 3,994,764,392 | 3,991,644,459 | 3,978,695,017 | 3,978,427,360 | 3,978,388,996 | 3,977,039,943 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Company revenues excluding Ford Credit (in millions) | 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) | |||||||
| Sales per share2 | 43.31 | 42.81 | 43.57 | 43.02 | 42.54 | 41.76 | 41.75 | 41.08 | 40.09 | 38.98 | 37.40 | 35.48 | 34.50 | 31.07 | 31.53 | 31.08 | 31.46 | 29.60 | 29.14 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 11.07 | 10.44 | 9.26 | 10.41 | 11.16 | 13.04 | 12.80 | 9.96 | 13.26 | 11.79 | 13.23 | 13.00 | 14.00 | 14.62 | 17.96 | 16.86 | 14.39 | 11.26 | 11.51 | 7.90 | 6.61 | 5.26 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/S ratio4 | 0.26 | 0.24 | 0.21 | 0.24 | 0.26 | 0.31 | 0.31 | 0.24 | 0.33 | 0.30 | 0.35 | 0.37 | 0.41 | 0.47 | 0.57 | 0.54 | 0.46 | 0.38 | 0.39 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||||||
| General Motors Co. | 0.27 | 0.25 | 0.29 | 0.35 | 0.32 | 0.32 | 0.28 | 0.25 | 0.33 | 0.31 | 0.38 | 0.39 | 0.41 | 0.48 | 0.68 | 0.67 | 0.61 | 0.77 | 0.73 | — | — | — | |||||||
| Tesla Inc. | 10.62 | 8.44 | 13.18 | 8.61 | 7.24 | 5.46 | 6.28 | 7.03 | 9.08 | 5.99 | 6.73 | 8.91 | 12.52 | 16.63 | 17.42 | 21.97 | 15.25 | 18.61 | 26.28 | — | — | — | |||||||
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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (Company revenues excluding Ford CreditQ2 2025
+ Company revenues excluding Ford CreditQ1 2025
+ Company revenues excluding Ford CreditQ4 2024
+ Company revenues excluding Ford CreditQ3 2024)
÷ No. shares of common stock outstanding
= (46,943,000,000 + 37,422,000,000 + 44,936,000,000 + 43,069,000,000)
÷ 3,979,860,297 = 43.31
3 Closing price as at the filing date of Ford Motor Co. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 11.07 ÷ 43.31 = 0.26
5 Click competitor name to see calculations.
- Share Price Trend
- The share price showed a general upward trajectory from March 2020 through December 2021, increasing from $5.26 to a peak near $17.96. Following this peak, a period of volatility and decline occurred through March 2023, where the price dropped to approximately $11.79. Subsequent quarters exhibit continued fluctuations with a downward tendency through September 2024, bottoming near $9.26, before modestly recovering towards June 2025 to around $11.07.
- Sales Per Share Development
- Sales per share data, available from March 2021 onward, show a consistent upward trend. Beginning at $29.14, sales per share increased steadily each quarter, reaching $43.31 by June 2025. This suggests improving revenue generation per share over time, reflecting growth in underlying business performance or efficiency in sales operations.
- Price-to-Sales (P/S) Ratio Evolution
- The Price-to-Sales ratio started at approximately 0.39 in March 2021, decreased gradually to 0.30 by March 2023, and experienced further declines toward 0.21 by March 2025. Minor upticks occur intermittently, with a ratio of 0.26 by June 2025. The overall downward trend in P/S ratio, despite rising sales per share, suggests that the share price did not increase proportionally to sales, possibly indicating either market undervaluation in later periods or shifts in market sentiment affecting valuation multiples.
- Overall Insights
- The data exhibits a strengthening in sales performance as reflected in growing sales per share, while share price and valuation multiples display more variability and a general decline post-2021 peak. This divergence could imply investor caution or reassessment of growth prospects relative to actual sales improvements. The decreasing P/S ratio particularly highlights that stock price appreciation has lagged behind sales growth, which may warrant further investigation into profitability, margins, or external market factors influencing investor sentiment.
Price to Book Value (P/BV)
Ford Motor Co., historical P/BV 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,979,860,297 | 3,976,548,845 | 3,963,447,704 | 3,974,288,593 | 3,975,249,685 | 3,992,337,157 | 3,973,633,108 | 4,002,954,437 | 4,002,225,602 | 4,000,770,326 | 3,986,181,861 | 4,020,494,099 | 4,020,237,518 | 4,019,765,355 | 4,004,247,552 | 3,996,241,503 | 3,994,764,392 | 3,991,644,459 | 3,978,695,017 | 3,978,427,360 | 3,978,388,996 | 3,977,039,943 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Equity attributable to Ford Motor Company (in millions) | 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) | |||||||
| Book value per share (BVPS)2 | 11.32 | 11.22 | 11.31 | 11.15 | 10.96 | 10.74 | 10.76 | 11.06 | 10.91 | 10.59 | 10.85 | 10.48 | 10.99 | 11.19 | 12.12 | 9.16 | 8.68 | 8.47 | 7.71 | 8.33 | 7.75 | 7.46 | |||||||
| Share price1, 3 | 11.07 | 10.44 | 9.26 | 10.41 | 11.16 | 13.04 | 12.80 | 9.96 | 13.26 | 11.79 | 13.23 | 13.00 | 14.00 | 14.62 | 17.96 | 16.86 | 14.39 | 11.26 | 11.51 | 7.90 | 6.61 | 5.26 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/BV ratio4 | 0.98 | 0.93 | 0.82 | 0.93 | 1.02 | 1.21 | 1.19 | 0.90 | 1.22 | 1.11 | 1.22 | 1.24 | 1.27 | 1.31 | 1.48 | 1.84 | 1.66 | 1.33 | 1.49 | 0.95 | 0.85 | 0.71 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||
| General Motors Co. | 0.70 | 0.67 | 0.79 | 0.83 | 0.76 | 0.77 | 0.69 | 0.53 | 0.73 | 0.65 | 0.81 | 0.81 | 0.76 | 0.91 | 1.30 | 1.45 | 1.48 | 1.73 | 1.76 | 1.23 | 0.94 | 0.78 | |||||||
| Tesla Inc. | 12.74 | 10.82 | 17.66 | 11.96 | 10.38 | 8.03 | 9.71 | 12.61 | 16.70 | 10.72 | 12.26 | 16.74 | 23.12 | 30.33 | 31.06 | 38.04 | 25.74 | 29.06 | 37.29 | 24.85 | 27.92 | 15.80 | |||||||
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 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Equity attributable to Ford Motor Company ÷ No. shares of common stock outstanding
= 45,057,000,000 ÷ 3,979,860,297 = 11.32
3 Closing price as at the filing date of Ford Motor Co. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 11.07 ÷ 11.32 = 0.98
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited an overall upward trend from March 2020, starting at $5.26, and reaching a peak near the end of 2021 at $17.96. Following this peak, a period of decline and fluctuation is evident through 2022 and into early 2023, with prices hovering around the $13 to $9.96 range. Mid to late 2023 showed further volatility, falling to a low of $9.26 in December 2024, before experiencing a modest recovery to $11.07 by June 2025.
- Book Value Per Share (BVPS) Trend
- Book value per share demonstrated steady growth between March 2020 and December 2021, rising from $7.46 to $12.12. After this period of growth, BVPS experienced some fluctuations but remained relatively stable, maintaining values in the range of about $10.48 to $11.32 through mid-2025. This indicates a consistent underlying equity value despite market price volatility.
- Price-to-Book Value Ratio (P/BV) Dynamics
- The P/BV ratio followed a pattern largely influenced by the share price movements. Starting below 1 at 0.71 in early 2020, it climbed to a high of 1.84 by September 2021, reflecting increased market valuation relative to book value. Thereafter, the ratio trended downward, dipping below 1 on several occasions by late 2024, indicative of market undervaluation relative to book value during these periods. A slight rebound near 1 was observed by mid-2025.
- Summary Insights
- The data reflects a period of strong market optimism through 2021, as seen in rising share prices and elevated P/BV ratios above 1, suggesting investors valued the company above its book equity. Post-2021, market sentiment became more cautious or bearish, with share prices and P/BV ratios declining despite relatively stable book value per share. This divergence suggests external market factors or investor concerns impacted valuation more than changes in the company’s fundamental equity value. The stabilization of BVPS alongside fluctuating market metrics highlights resilience in the company's asset base but signals market uncertainty regarding growth prospects or risk factors during the later periods.