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$13.97
Market Capi
$55B
Growth-adj P/E (3-yr hist)i
n/a
Growth-adj P/E (3-yr proj)i
n/a
P/S 26Ei
0.3x
P/S 28Ei
0.3x
EV/EBIT 26Ei
5.4x
EV/EBIT 28Ei
4.1x
P/E 26Ei
17x
P/E 28Ei
6.4x
P/S 26Ei
0.3x
EV/EBIT 26Ei
5.4x
P/E 26Ei
17x
P/S 28Ei
0.3x
EV/EBIT 28Ei
4.1x
P/E 28Ei
6.4x
Revenue
2026E
$177B
Gross Margini
5.8%
Hist. CAGRi
5.8%
Proj. CAGRi
-0.2%
EBIT
2026E
$10B
Op. Margini
-0.3%
Hist. CAGRi
—
Proj. CAGRi
—
Net profit
2026E
$3.3B
Net Margini
-4.4%
Hist. CAGRi
—
Proj. CAGRi
—
Business Model
Recent Developments
Average Targeti
$15.78+10%
Consensusi
Outperform
22 analysts covering
Net cashi
$975M
Div. Yieldi
4.3%
Dilutioni
0.3%
Market Capi
$55B
P/E 26Ei
17x
Adj. P/E (fwd.)i
—
Revenue 26E
$177B
Proj. CAGRi
-0.2%
Gross Margini
5.8%
EBIT 26E
$10B
Proj. CAGRi
—
Op. Margini
-0.3%
Net Profit 26E
$3.3B
Proj. CAGRi
—
Net Margini
-4.4%
Average Targeti
$15.78+10%
Consensusi
Outperform
22 analysts covering
Profile
Ford Motor Company designs, manufactures, markets, and finances vehicles under the Ford and Lincoln brands. The company operates through three reporting segments:
Industry
Ford sells primarily to retail consumers and fleet/commercial operators, with the United States representing nearly two-thirds of revenue. Canada and the UK are the next largest markets. The commercial vehicle market — Ford Pro's domain — tends to be stickier than retail: fleet buyers repurchase on multi-year cycles and increasingly buy into software subscriptions alongside the vehicle. The broader auto industry is highly cyclical, capital-intensive, and under structural pressure from electrification costs and intensifying competition from Chinese OEMs at the affordable end.
Key metrics
Economic moat
Ford's most defensible asset is the F-Series franchise — a vehicle line so deeply embedded in American work and culture that it has held the top-selling position for over 40 consecutive years. Switching costs in commercial fleets are real: proprietary telematics platforms, service networks, and driver familiarity create friction. Ford Credit provides a captive financing loop that reinforces dealer relationships and smooths volume through credit cycles. These advantages are formidable but not unassailable — they protect the core ICE business while the EV transition remains unresolved.
Jim Farley
Farley has served as CEO since October 2020, having joined Ford in 2007 from Toyota, where he ran Lexus marketing. His tenure has been defined by splitting the business into Ford Pro, Ford Blue, and Ford Model e, and by publicly disclosing EV losses rather than downplaying them. His commercial and brand background underpins Ford's continued push into Ford Pro's software and subscription business as a margin-improvement lever.
Bill Ford
Great-grandson of Henry Ford and Executive Chairman since 2006, Bill Ford is the family steward of the company's identity and long-term direction. The Ford family controls the company through a dual-class share structure holding ~40% of voting power via Class B shares despite a much smaller economic stake. He stepped back from the CEO role in 2006 and has not sought to reclaim it, but his presence gives the board continuity and insulates the company from short-term activist pressure.
Sherry House
House became CFO in February 2025, succeeding John Lawler, who moved into the newly created Vice Chair role overseeing strategy, partnerships, and corporate development. She previously served as CFO of Lucid Motors from 2020 to 2023, after earlier finance and corporate-development roles at Waymo and General Motors. Her priorities since joining have centered on narrowing Ford Model e's losses and lifting Ford Pro's margin profile.
Kumar Galhotra
Galhotra was named Chief Operating Officer of Ford Motor Company after previously serving as president of Ford Blue, and now oversees vehicle engineering, combustion and hybrid programs, supply chain, and manufacturing across the whole company. He reports directly to Farley and now leads a newly formed Product Creation and Industrialization organization tasked with scaling Ford's next-generation vehicle programs.
Other key figures
Andrew Frick is president of both Ford Blue and Ford Model e, having added the EV unit to his existing Ford Blue mandate in February 2025. Marin Gjaja, previously chief operating officer of Ford Model e, moved into the newly created role of Chief Strategy Officer. John Lawler, Ford's former CFO, now serves as Vice Chair focused on strategy, alliances, and corporate development.
P/S Ratioi
EV/EBITi
P/E RatioiP/E values for 2022 and 2025 were omitted from this chart because negative or above 150x values usually occur around break-even earnings and would distort the scale. The raw values remain in the table below.
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
EBITEBIT year-over-year growth labels for 2026E are hidden because the prior comparison year is missing, zero, or negative. Growth rates from missing or non-positive bases are not meaningful.
CAGR (hist. 3-yr)i
n/a
CAGR (proj. 3-yr)i
n/a
Net profitNet profit year-over-year growth labels for 2023 and 2026E are hidden because the prior comparison year is missing, zero, or negative. Growth rates from missing or non-positive bases are not meaningful.
CAGR (hist. 3-yr)i
n/a
CAGR (proj. 3-yr)i
n/a
Values in billions of USD.
Operating cashflow · Levered Free Cash Flow
Free Cash FlowFree cash flow year-over-year growth labels for 2026E are hidden because the prior comparison year is missing, zero, or negative. Growth rates from missing or non-positive bases are not meaningful.
CAPEX
Values in billions of USD.
Margins
Rentability
Balance sheet
Values in billions of USD.
Liquidity ratios
Debt-to-Equity-Ratio
Last earnings
Second-quarter 2026 revenue came in at $48.3 billion, down about 4% year over year, while adjusted EPS of $0.42 beat consensus estimates near $0.30-$0.35. Adjusted EBIT rose roughly 17% to $2.5 billion, and the company reported a $1.3 billion net loss tied to a special-item charge related to its electric-vehicle restructuring.
Ford Blue, the gas and hybrid unit, was the standout, with EBIT up about 72% to $1.1 billion on strong Bronco family and off-road demand, while Ford Pro's EBIT fell year over year on Novelis-related aluminum supply disruption that cut wholesale volumes. Model e's loss narrowed to $919 million, its third straight quarter of year-over-year improvement.
Management raised full-year adjusted EBIT guidance to $10 billion-$11 billion (from $8.5 billion-$10.5 billion) and lifted adjusted free cash flow guidance to $6 billion-$7 billion, citing favorable pricing and mix alongside an expected roughly $1 billion Novelis-related net tailwind for the year.
Recent developments
Ford reported second-quarter 2026 results on July 28, 2026, alongside a declared third-quarter dividend of $0.15 per share, payable September 1, 2026.
The company continues executing a large-scale pullback from its prior all-electric strategy, having outlined roughly $19.5 billion in cumulative special charges tied to canceling planned EV models — including a full-size electric pickup and two commercial vans — and ending production of the F-150 Lightning, while targeting profitability for Model e by 2029.
Ford is shifting future volume mix toward hybrids, extended-range EVs and a lower-cost EV platform, with the first vehicle on the new architecture — a midsize pickup — slated to begin production in 2027 at its Louisville plant.
Ford was named the top mainstream brand in the J.D. Power 2026 U.S. Initial Quality Study, an achievement the company describes as its first in 16 years.
Debate & sentiment
Bulls point to Ford Pro's durable profitability and growing software subscription base, alongside a strengthening Ford Blue lineup, as evidence the core combustion and hybrid business can fund the EV transition without further balance-sheet strain.
Skeptics focus on continued Model e losses, guided at roughly $4 billion for full-year 2026, and on tariff and commodity cost headwinds — including aluminum sourcing costs tied to the Novelis disruption — that management says will weigh on margins through the year.
A recurring concern among analysts is that rising tariff exposure and persistent EV losses could pressure Ford's capacity to sustain its supplemental dividend in coming quarters, even as the regular dividend continues uninterrupted.
The consensus analyst rating remains split between hold and buy views, reflecting disagreement over whether the EV retrenchment marks a bottom for Model e losses or whether cost pressures will persist longer than guided.
Consensusi
Outperform
Average targeti
$15.78+10%
Highest targeti
$20.00+39%
Lowest targeti
$11.00-23%
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