One-glance verdict
Overvalued
$-1.49 our estimate vs market $14.62
Wall Street consensus: $15.85 (-1,166.4% lower than our fair-value estimate)
1083% below our estimate, beyond the bull case
Fundamentals snapshot
Ford Motor Company
F · NYQ · Consumer Cyclical · Auto Manufacturers
Current price
$14.62
52-week range
$11.11 - $17.78
Market cap
$58.30B
Balance sheet
Distressed
-6.88x Concerning
Net debt $141.18B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
3 Risks
3 rewards · 3 risks
- Reward Revenue grew 1.4% last year.
- Reward Free cash flow was positive in 9/10 years.
- Risk Net debt grew 32.0% over 3 years.
- Risk Return on equity was -18.3% last year — the company lost money on shareholders' equity.
What this company does
Ford Motor Company
Ford is a global automaker known for its trucks and SUVs, selling traditional gas-powered vehicles as well as a growing number of electric models. A large part of its business comes not just from selling cars, but also from its financing arm, Ford Credit, which provides loans to customers buying vehicles and to the dealerships that stock them. This matters because the lending business provides a steadier income that helps the company when new car sales are slow.
How the company got here
Founded by Henry Ford in 1903, the company revolutionized manufacturing with the moving assembly line. This innovation made cars affordable for the masses, starting with the Model T. A key moment came in 2006 when Ford mortgaged its assets, a move that helped it avoid the bankruptcies that hit its major U.S. competitors during the 2008-2009 financial crisis. More recently, in 2022, the company restructured into three distinct units to better focus on its different types of vehicles and customers.
What it actually does
Ford designs, builds, and sells cars, trucks, and SUVs under the Ford brand, and luxury vehicles under the Lincoln name. You would recognize popular models like the F-150 pickup truck, the Mustang sports car, and the Explorer SUV. Beyond just selling cars, Ford also provides financing (loans and leases for both customers and dealerships) and a growing number of services for business customers, like fleet management software and vehicle maintenance.
Ford Blue
This is Ford's traditional business, focused on vehicles with internal combustion engines (gas-powered cars) and hybrids. It's responsible for iconic and profitable models like the F-Series trucks, Bronco, and Mustang. The main goal of Ford Blue is to generate strong profits and cash flow (the money left over after paying for the costs of running the business) that can be used to fund the company's newer ventures, particularly in electric vehicles.
Ford Model e
This segment is all about the future: electric vehicles (EVs) and digital technology. It designs and builds Ford's all-electric lineup, like the Mustang Mach-E and the F-150 Lightning, and develops the software and connected services for all Ford vehicles. While this part of the business is currently losing money as it invests heavily in new technology, Ford is betting on it to drive growth and plans for it to be profitable in the coming years.
Ford Pro
Think of this as a one-stop shop for business and government customers. Ford Pro sells work-ready vehicles, including both gas and electric versions of its trucks and vans like the Transit. But it goes beyond just selling the vehicle; it also offers a package of services like fleet management software, charging solutions for electric fleets, and vehicle maintenance to keep a business's vehicles on the road and productive. This is a fast-growing and important part of Ford's business.
Ford Credit
This is the financing arm of the company. When a customer buys or leases a Ford or Lincoln vehicle at a dealership, Ford Credit is often the one providing the loan or lease agreement. It also provides loans to the dealerships themselves, helping them finance their inventory (the cars they have on the lot). This segment is a consistent source of earnings for the company.
What management is betting on now
Ford's main strategy, called Ford+, is to operate as two distinct but related businesses: the profitable traditional engine business (Ford Blue) funds the growth of the electric vehicle and software business (Ford Model e). The company is investing heavily to scale up production of its electric vehicles, aiming to produce over two million EVs per year by 2026. At the same time, it is expanding its Ford Pro commercial business by offering more software and services to business customers, creating ongoing revenue streams beyond the initial vehicle sale.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q2
$3.41B
FY2024 Q3
$1.41B
FY2024 Q4
$2.63B
FY2025 Q1
$1.86B
FY2025 Q2
$4.23B
FY2025 Q3
$3.19B
FY2025 Q4
$3.19B
FY2026 Q1
$-1.06B
Revenue
$43.25B
Net income
—
Diluted EPS
0.63
Operating cash flow
$1.32B
Free cash flow
$-1.06B
Fetching…
Sources
Revenue
$45.89B
Net income
—
Diluted EPS
-2.77
Operating cash flow
$3.88B
Free cash flow
$3.19B
Fetching…
Sources
Revenue
$50.53B
Net income
—
Diluted EPS
0.60
Operating cash flow
$7.40B
Free cash flow
$3.19B
Fetching…
Sources
Revenue
$50.18B
Net income
$-36.00M
Diluted EPS
-0.01
Operating cash flow
$6.32B
Free cash flow
$4.23B
Fetching…
Sources
Revenue
$40.66B
Net income
$471.00M
Diluted EPS
0.12
Operating cash flow
$3.68B
Free cash flow
$1.86B
Fetching…
Sources
Revenue
$48.21B
Net income
$1.82B
Diluted EPS
0.45
Operating cash flow
$3.03B
Free cash flow
$2.63B
Fetching…
Sources
Revenue
$46.20B
Net income
$892.00M
Diluted EPS
0.22
Operating cash flow
$5.50B
Free cash flow
$1.41B
Fetching…
Sources
Revenue
$47.81B
Net income
$1.83B
Diluted EPS
0.46
Operating cash flow
$5.51B
Free cash flow
$3.41B
Fetching…
Sources
Is it cheap or expensive?
Fair value $-1.49 vs current price $14.62
Wall Street consensus is the average analyst price target: $15.85 (-1,166.4% lower than our fair-value estimate).
Our most-likely fair value is $-1.49 a share — about 110.2% below today's price of $14.62, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Distressed
Net debt $141.2B. Interest coverage -6.9x.
Net debt
$141.18B
Interest coverage
-6.88x
Ford Motor Company's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
F
BASELINE
Ford Motor Company
Total debt $163.30B Interest coverage -6.88x This is the baseline the peer rows are being compared against.
Total debt $128.77B Interest coverage 4.00x This peer still has a real interest-payment cushion, while F does not.
Total debt $60.54B Interest coverage -15.06x Neither company has much profit cushion over interest right now.
Total debt $92.02B Interest coverage -4.96x Neither company has much profit cushion over interest right now.
Total debt $5.35B Interest coverage -13.08x Neither company has much profit cushion over interest right now.
What you should know
The case for and against F
3 Rewards
3 Risks
Rewards
-
Revenue grew 1.4% last year.
-
Free cash flow was positive in 9/10 years.
-
Dividend yield is 4.2% with 55-year payout history.
Risks
-
Net debt grew 32.0% over 3 years.
-
Return on equity was -18.3% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 0.4% (peer median: 11.9%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
7.63x
P/B
1.63x
P/S
0.31x
EV/EBITDA
26.10x
PEG ratio
8.48x
Profitability
How much profit each dollar creates
Gross margin
7.1%
Operating margin
1.9%
Net margin
-3.9%
ROE
-18.3%
ROA
0.3%
Health
Liquidity and balance-sheet strength
Debt / equity
4.57x
Current ratio
1.09x
Quick ratio
0.88x
Total debt
$163.30B
Total cash
$22.12B
Growth
How the business has been compounding
Revenue TTM
$189.86B
Revenue 5Y CAGR
8.3%
EPS TTM
-1.90
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$18.92B
Free CF TTM
$12.47B
FCF margin
6.6%
Dividend
Shareholder payout
Yield
4.2%
Payout ratio
64.1%
Last ex-div date
2026-08-11