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: 2025-03-31), 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 financial ratios demonstrate notable fluctuations over the presented periods. Initially, the Price to Earnings (P/E) ratio shows instability, with values absent in early 2020 but becoming available from mid-2020. From mid-2020 to the end of 2021, P/E exhibits an upward trend, peaking significantly above 20 by late 2021, indicative of heightened market expectations or elevated earnings multiples during this period. Following this peak, the P/E ratio declines substantially into 2022, stabilizing between roughly 5 and 12 through 2023 and into early 2024, suggesting a normalization or adjustment in valuations. Towards the end of the data, a decreasing trend resumes, reaching lows near 6.24 before a modest rebound.
The Price to Operating Profit (P/OP) ratio shows a somewhat parallel pattern to P/E, with no early data but commencing from mid-2020. It experiences an initial increase peaking around late 2021 at approximately 50, an outlier value representing possibly either depressed operating profits or inflated share prices. After this spike, P/OP sharply decreases and remains relatively more stable, oscillating between roughly 6 and 11 through 2022, 2023, and into 2024, with a mild dip towards the end. This suggests some recovery or stabilization in operating profitability relative to market valuation following the exceptional peak period.
Price to Sales (P/S) ratio values, available from early 2021 onwards, display a gradual decline over time. Beginning near 0.39 in early 2021, the ratio briefly increases to a peak of approximately 0.57 in early 2022, followed by a consistent downward modification reaching levels close to 0.21 by early 2025. This trend potentially indicates decreasing market valuation relative to sales or growth in sales not matched by proportional share price appreciation through these years.
Price to Book Value (P/BV) ratios are available from the start of the dataset and exhibit a rising trend through early 2021, peaking near 1.84 by late 2021. Following this peak, there is a gradual decrease in the ratio, generally trending downward with minor fluctuations, reaching around 0.82 to 0.93 by early 2025. This pattern suggests a shift from higher market valuation relative to book value towards a more conservative or depreciated valuation in more recent periods.
Overall, the data illustrate significant volatility and cyclical patterns within valuation multiples over the quarters, with all ratios generally peaking in late 2021 followed by declines. The marked peaks in P/E and P/OP ratios late in 2021 may reflect market exuberance or extraordinary earnings and operating profit conditions, whereas the subsequent declines and stabilization suggest correction and normalization phases. The steady decrease in P/S and P/BV ratios from 2022 onwards indicates a cautious market sentiment relative to sales and book value during the more recent periods.
- Price to Earnings (P/E) Ratio
- Initial absence of data; rising trend from mid-2020, peak > 20 in late 2021; subsequent decline and stabilization between 5 and 12; decreasing trend resumed near early 2025.
- Price to Operating Profit (P/OP) Ratio
- Similar pattern to P/E; peak at about 50 in late 2021; sharp decline thereafter; relatively stable between 6 and 11 in subsequent quarters.
- Price to Sales (P/S) Ratio
- Available from early 2021; initial moderate level around 0.39; peak near 0.57 early 2022; then consistent decline to about 0.21 by early 2025.
- Price to Book Value (P/BV) Ratio
- Rising trend through early 2021 peaking near 1.84; gradual decline with minor fluctuations to roughly 0.82–0.93 by early 2025.
Price to Earnings (P/E)
Ford Motor Co., historical P/E calculation (quarterly data)
| 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 | 3,976,548,845 | 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) | 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 | 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 | 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 | 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. | 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. | 126.77 | 181.57 | 65.83 | 55.70 | 37.98 | 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: 2025-03-31), 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 Q1 2025 Calculation
EPS
= (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
+ Net income (loss) attributable to Ford Motor CompanyQ2 2024)
÷ No. shares of common stock outstanding
= (471,000,000 + 1,824,000,000 + 892,000,000 + 1,831,000,000)
÷ 3,976,548,845 = 1.26
3 Closing price as at the filing date of Ford Motor Co. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/E ratio = Share price ÷ EPS
= 10.44 ÷ 1.26 = 8.27
5 Click competitor name to see calculations.
The data reveals several notable trends in the financial performance and market valuation over the examined periods. The share price showed an initial upward trend from March 2020 through December 2021, reaching a peak close to 18 US dollars. This was followed by a fluctuating decline through 2022, with prices generally stabilizing around the 10 to 13 US dollars range from early 2023 onward. The share price experienced some volatility in 2023 and early 2024 but remained below the earlier peak observed in 2021, indicating possible market uncertainty or changing investor sentiment.
Earnings per share (EPS) data starts appearing from the end of 2020, initially reflecting a negative figure, which implies a loss during that quarter. From 2021 onwards, EPS generally remained positive, with a significant spike in late 2021 (December) reaching 4.48 US dollars. Following this peak, EPS values decreased but remained mostly positive, showing some fluctuations with values ranging between -0.5 and 1.54 US dollars. This pattern indicates a recovery from an early loss, although earnings have been inconsistent with occasional reductions, suggesting variability in profitability or operational challenges during this period.
The Price-to-Earnings (P/E) ratio became meaningful from mid-2021, coinciding with the availability of positive EPS figures. The ratio exhibited considerable fluctuation, reaching a low around 4 in late 2021, indicative of a potentially undervalued stock or strong earnings relative to share price at that time. Subsequently, the P/E ratio rose to values above 16 in mid-2023, suggesting increased market expectations or higher valuations relative to earnings. In later periods, the P/E ratio fluctuated between approximately 6 and 13, reflecting ongoing uncertainty or variations in both earnings stability and investor perceptions.
- Share Price Trend
- Consistent rise from Q1 2020 to Q4 2021 followed by a decline and stabilization between 10 and 13 US dollars through 2023 and early 2024.
- Earnings Per Share (EPS)
- Negative EPS at end of 2020, recovery with positive earnings in 2021; a notable peak in late 2021, followed by fluctuating but mostly positive EPS through 2024.
- Price-to-Earnings (P/E) Ratio
- Initiated in mid-2021 with values showing volatility; low values in late 2021 indicating higher earnings relative to price, rising to over 16 in mid-2023, and fluctuating around mid-to-high single digits afterwards.
Overall, the financial data reflects a period of recovery and growth following early losses, with volatility in earnings and valuation ratios suggesting market sensitivity to the company’s performance and external factors affecting profitability and investor confidence.
Price to Operating Profit (P/OP)
Ford Motor Co., historical P/OP calculation (quarterly data)
| 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 | 3,976,548,845 | 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) | 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 | 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 | 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 | 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. | 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. | 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: 2025-03-31), 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 Q1 2025 Calculation
Operating profit per share
= (Operating income (loss)Q1 2025
+ Operating income (loss)Q4 2024
+ Operating income (loss)Q3 2024
+ Operating income (loss)Q2 2024)
÷ No. shares of common stock outstanding
= (319,000,000 + 1,231,000,000 + 880,000,000 + 1,883,000,000)
÷ 3,976,548,845 = 1.08
3 Closing price as at the filing date of Ford Motor Co. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 10.44 ÷ 1.08 = 9.63
5 Click competitor name to see calculations.
The financial data exhibits several notable trends across the analyzed periods. The share price demonstrates a general upward trajectory from early 2020 through 2021, with a peak observed around the end of 2021. Subsequently, there is a decline in share price through 2022, followed by fluctuating movements in 2023 and early 2024. Despite some recovery attempts, the share price remains below its late 2021 highs during the latest periods.
Operating profit per share (OPPS) shows an initial negative performance in early 2020, with losses recorded until mid-2020. Starting from the latter part of 2020, there is a consistent return to positive territory, indicating improved operational profitability. From 2021 onwards, OPPS maintains positive values, with slight fluctuations but no return to losses, suggesting stabilization in operational earnings.
The price-to-operating-profit (P/OP) ratio highlights significant volatility. Initially, data is sparse, but from mid-2021, ratios vary considerably, reflecting changing market valuations relative to operating profits. The ratio peaks around mid to late 2021, possibly correlating with elevated share prices and improving operational results. Thereafter, the P/OP ratio generally declines, signaling either a reduction in price multiples or improvement in operating profits. Some increases in the P/OP ratio occur in early and mid-2024, indicating changing investor sentiment or profit expectations in those periods.
- Share Price Trends
- Marked growth through 2020 and 2021, peak at the end of 2021, followed by a decline and fluctuating recovery attempts in 2023 and early 2024.
- Operating Profit Per Share Trends
- Negative values early 2020, transition to consistent positive profits from late 2020 onward, with moderate variation but overall stability in profitability.
- Price-to-Operating-Profit Ratio Trends
- High volatility post-2021, with peaks reflecting sharp changes in investor valuation; subsequent general decline followed by periodic increases indicating fluctuations in market sentiment or operational performance assessments.
Overall, the data points toward a recovery in operational profitability since mid-2020, with share price reflecting broader market influences and varying investor sentiment over the observed period. The P/OP ratio variations suggest that market valuations have adjusted in response to changing profitability and external factors impacting investor confidence.
Price to Sales (P/S)
Ford Motor Co., historical P/S calculation (quarterly data)
| 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 | 3,976,548,845 | 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) | 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 | 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 | 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 | 0.24 | 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. | 0.25 | 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. | 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: 2025-03-31), 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 Q1 2025 Calculation
Sales per share
= (Company revenues excluding Ford CreditQ1 2025
+ Company revenues excluding Ford CreditQ4 2024
+ Company revenues excluding Ford CreditQ3 2024
+ Company revenues excluding Ford CreditQ2 2024)
÷ No. shares of common stock outstanding
= (37,422,000,000 + 44,936,000,000 + 43,069,000,000 + 44,811,000,000)
÷ 3,976,548,845 = 42.81
3 Closing price as at the filing date of Ford Motor Co. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 10.44 ÷ 42.81 = 0.24
5 Click competitor name to see calculations.
The share price exhibits a notable growth trend from the beginning of the observed period in early 2020 through the end of 2021, increasing from $5.26 to a peak near $18. This upward trajectory suggests a period of positive market sentiment or improved company performance during this timeframe. However, starting in 2022, the share price demonstrates a declining pattern overall, with some fluctuations, decreasing to levels around $9-$13 by early 2025. This downward trend in the latter years might reflect market challenges, reduced investor confidence, or other external factors impacting valuation.
Sales per share data, available from the first quarter of 2021 onward, shows a consistent upward trend over the entire period. Values increase steadily from $29.14 to around $43.57 by early 2025, indicating continuous growth in revenue generation on a per-share basis. This progression points to improving operational performance or effective sales strategies, contributing positively to the company's fundamentals.
The price-to-sales (P/S) ratio starts off quite low in early 2021, under 0.4, rises to a peak of 0.57 by the end of 2021, and then declines progressively to values near 0.2 by early 2025. This decline in P/S ratio, despite increasing sales per share, suggests that the market valuation relative to sales has contracted, aligning with the observed drop in share price. It may imply the market is pricing the company more conservatively in relation to its sales or reflects broader industry or economic pressures.
- Share Price Trend
- Strong growth from early 2020 to late 2021, peaking near $18, followed by a gradual decline and fluctuations through early 2025.
- Sales Per Share
- Consistent increase from around $29 in early 2021 to mid-$40s in early 2025, indicating steady revenue growth per share.
- Price-to-Sales Ratio
- Initial increase to 0.57 by end of 2021, then a marked decreasing trend through early 2025 down to approximately 0.2, reflecting lower market valuation multiples despite rising sales.
In summary, while operational sales metrics improve over time, the market valuation expressed through share price and P/S ratio shows a contrasting decline after a strong initial increase. This divergence points to potential concerns affecting investor perception, such as market volatility or company-specific risks, despite improving revenue performance.
Price to Book Value (P/BV)
Ford Motor Co., historical P/BV calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 3,976,548,845 | 3,963,447,704 | 3,974,288,593 | 3,975,249,685 | 3,992,337,157 | 3,973,633,108 | 4,002,954,437 | 4,002,225,602 | 4,000,770,326 | 3,986,181,861 | 4,020,494,099 | 4,020,237,518 | 4,019,765,355 | 4,004,247,552 | 3,996,241,503 | 3,994,764,392 | 3,991,644,459 | 3,978,695,017 | 3,978,427,360 | 3,978,388,996 | 3,977,039,943 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Equity attributable to Ford Motor Company (in millions) | 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 | 11.22 | 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 | 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 | 0.93 | 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. | 0.67 | 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. | 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: 2025-03-31), 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 Q1 2025 Calculation
BVPS = Equity attributable to Ford Motor Company ÷ No. shares of common stock outstanding
= 44,635,000,000 ÷ 3,976,548,845 = 11.22
3 Closing price as at the filing date of Ford Motor Co. Quarterly or Annual Report.
4 Q1 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 10.44 ÷ 11.22 = 0.93
5 Click competitor name to see calculations.
The analysis of quarterly financial data reveals specific trends in share price, book value per share (BVPS), and the price-to-book value (P/BV) ratio over a five-year span.
- Share price
- The share price exhibited an overall upward trend from Q1 2020 to Q4 2021, rising from $5.26 to a peak of $17.96. Following this peak, the share price declined steadily through 2022 and 2023, reaching a low of $9.96 in Q3 2023. A modest recovery was noted in late 2023 and early 2024, with prices fluctuating between approximately $10 and $13. By Q1 2025, the share price was $10.44, still below the earlier peak but above the initial 2020 levels.
- Book value per share (BVPS)
- BVPS showed a more stable and gradual increase over the entire period, starting at $7.46 in Q1 2020 and reaching $11.22 by Q1 2025. Minor fluctuations were present, particularly a dip around the end of 2020, but overall the book value per share experienced consistent growth, indicating an accumulation of shareholder equity over time.
- Price-to-Book Value (P/BV) Ratio
- The P/BV ratio generally correlated with the share price movements. It rose from 0.71 in Q1 2020 to a high of 1.84 in Q3 2021, reflecting an increased market valuation relative to the book value. This was followed by a downward adjustment alongside the falling share price, declining to 0.90 in Q3 2023. Slight recovery and stabilization occurred thereafter, with the P/BV ratio moving between 0.82 and 1.22 into early 2025, suggesting a return to more moderate valuation levels relative to book value.
In summary, the data indicate a period of strong share price growth and market optimism through 2021, followed by a correction phase and subsequent volatility. The steady increase in book value per share suggests continued strengthening of the company's underlying equity, while the fluctuating P/BV ratio reflects changing market sentiment and valuation adjustments over time.