Ford Motor (F) financial statements
Ford Motor reported revenue of $187.3B in fiscal 2025, up 2.4% a year over 9 years.
Net income was -$8.2B and the operating margin -4.9%, against 3.8% in 2016.
Free cash flow was $12.5B, and the company returned $3.0B in dividends.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ford Motor's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $151.8B | $156.8B | $160.3B | $155.9B | $127.1B | $136.3B | $158.1B | $176.2B | $185.0B | $187.3B |
| Cost of revenue | $126.2B | $131.3B | $136.3B | $134.7B | $112.8B | $114.7B | $134.4B | $150.6B | $158.4B | $174.5B |
| Gross profit | $25.6B | $25.5B | $24.1B | $21.2B | $14.4B | $21.7B | $23.7B | $25.6B | $26.6B | $12.8B |
| Research and development | $7.3B | $8.0B | $8.2B | $7.4B | $7.1B | $7.6B | $7.8B | $8.2B | $8.0B | $9.4B |
| Selling, general and admin | $11.0B | $11.5B | $11.4B | $11.2B | $10.2B | $11.9B | $10.9B | $10.7B | $10.3B | $10.8B |
| Operating income | $5.8B | $4.9B | $3.2B | $574M | -$4.4B | $4.5B | $6.3B | $5.5B | $5.2B | -$9.2B |
| Interest expense | $894M | $4.4B | $5.2B | $5.4B | $46M | $4.6B | $4.6B | $1.3B | $1.1B | $1.3B |
| Pre-tax income | $6.8B | $8.2B | $4.3B | -$640M | -$1.1B | $17.8B | -$3.0B | $4.0B | $7.2B | -$11.8B |
| Income tax | $2.2B | $402M | $650M | -$724M | $160M | -$130M | -$864M | -$362M | $1.3B | -$3.7B |
| Net income | $4.6B | $7.7B | $3.7B | $47M | -$1.3B | $17.9B | -$2.0B | $4.3B | $5.9B | -$8.2B |
| EPS (diluted) | $1.15 | $1.93 | $0.92 | $0.01 | -$0.32 | $4.45 | -$0.49 | $1.08 | $1.46 | -$2.06 |
| Diluted shares | 4.00B | 4.00B | 4.00B | 4.00B | 3.97B | 4.03B | 4.01B | 4.04B | 4.02B | 3.98B |
| Gross margin | 16.9% | 16.2% | 15.0% | 13.6% | 11.3% | 15.9% | 15.0% | 14.6% | 14.4% | 6.8% |
| Operating margin | 3.8% | 3.1% | 2.0% | 0.4% | -3.5% | 3.3% | 4.0% | 3.1% | 2.8% | -4.9% |
| Net margin | 3.0% | 4.9% | 2.3% | 0.0% | -1.0% | 13.2% | -1.3% | 2.5% | 3.2% | -4.4% |
Balance sheet
Fiscal years, from Ford Motor's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $38.8B | $38.9B | $34.0B | $34.7B | $50.0B | $49.6B | $44.1B | $40.2B | $38.3B | $38.5B |
| Receivables | $11.1B | $10.6B | $11.2B | $9.2B | $10.0B | $11.4B | $15.7B | $15.6B | $14.7B | $15.4B |
| Inventory | $8.9B | $11.2B | $11.2B | $10.8B | $10.8B | $12.1B | $14.1B | $15.7B | $15.0B | $15.3B |
| Total current assets | $108.5B | $116.8B | $114.6B | $114.0B | $116.7B | $109.0B | $116.5B | $121.5B | $124.5B | $123.5B |
| Property, plant and equipment | $32.1B | $35.3B | $36.2B | $36.5B | $37.1B | $37.1B | $37.3B | $40.8B | $41.9B | $37.3B |
| Goodwill | $50M | $75M | $264M | $278M | $258M | $619M | $603M | $683M | $658M | $483M |
| Total assets | $238.5B | $258.5B | $256.5B | $258.5B | $267.3B | $257.0B | $255.9B | $273.3B | $285.2B | $289.2B |
| Total current liabilities | $90.3B | $94.6B | $95.6B | $98.1B | $97.2B | $90.7B | $96.9B | $101.5B | $106.9B | $114.9B |
| Long-term debt | — | — | $600M | $470M | $291M | — | — | — | — | — |
| Total liabilities | $208.7B | $222.8B | $220.5B | $225.3B | $236.4B | $208.4B | $212.7B | $230.5B | $240.3B | $253.2B |
| Shareholders' equity | $29.2B | $35.6B | $35.9B | $33.2B | $30.7B | $48.5B | $43.2B | $42.8B | $44.8B | $36.0B |
| Net debt | -$15.9B | -$18.5B | -$16.1B | -$17.0B | -$25.0B | -$20.5B | -$25.1B | -$24.9B | -$22.9B | -$23.4B |
Cash flow
Fiscal years, from Ford Motor's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $19.9B | $18.1B | $15.0B | $17.6B | $24.3B | $15.8B | $6.9B | $14.9B | $15.4B | $21.3B |
| Capital spending | $7.0B | $7.0B | $7.8B | $7.6B | $5.7B | $6.2B | $6.9B | $8.2B | $8.7B | $8.8B |
| Free cash flow | $12.9B | $11.0B | $7.2B | $10.0B | $18.5B | $9.6B | -$13M | $6.7B | $6.7B | $12.5B |
| Stock-based compensation | $210M | $246M | $191M | $228M | $199M | $305M | $336M | $460M | $511M | $510M |
| Dividends paid | $3.4B | $2.6B | $2.9B | $2.4B | $596M | $403M | $2.0B | $5.0B | $3.1B | $3.0B |
| Share buybacks (net) | -$145M | -$131M | -$164M | -$237M | $0 | $0 | -$484M | -$335M | -$426M | $0 |
| Net borrowing | $3.9B | $1.2B | -$2.8B | -$1.4B | -$2.3B | -$23.0B | $5.3B | $8.2B | $11.4B | $39M |
| Free cash flow margin | 8.5% | 7.0% | 4.5% | 6.4% | 14.6% | 7.0% | -0.0% | 3.8% | 3.6% | 6.7% |
| Dividends per share | $0.84 | $0.65 | $0.73 | $0.60 | $0.15 | $0.10 | $0.50 | $1.24 | $0.78 | $0.75 |
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Open F in InvestinglyQuestions
What was Ford Motor's revenue in 2025?
$187.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Ford Motor generate?
$12.5B in fiscal 2025 (operating cash flow minus capital spending).
From Ford Motor's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.