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$14.37
Market Capi
$56B
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
5.3x
EV/EBIT 28Ei
4.3x
P/E 26Ei
14x
P/E 28Ei
7.2x
P/S 26Ei
0.3x
EV/EBIT 26Ei
5.3x
P/E 26Ei
14x
P/S 28Ei
0.3x
EV/EBIT 28Ei
4.3x
P/E 28Ei
7.2x
Revenue
2026E
$176B
Gross Margini
5.8%
Hist. CAGRi
5.8%
Proj. CAGRi
0.3%
EBIT
2026E
$9.3B
Op. Margini
-0.3%
Hist. CAGRi
—
Proj. CAGRi
—
Net profit
2026E
$3.4B
Net Margini
-4.4%
Hist. CAGRi
—
Proj. CAGRi
—
Business Model
Recent Developments
Average Targeti
$14.95+8%
Consensusi
Hold
21 analysts covering
Net cashi
$6.5B
Div. Yieldi
4.3%
Dilutioni
0.3%
Market Capi
$56B
P/E 26Ei
14x
Adj. P/E (fwd.)i
—
Revenue 26E
$176B
Proj. CAGRi
0.3%
Gross Margini
5.8%
EBIT 26E
$9.3B
Proj. CAGRi
—
Op. Margini
-0.3%
Net Profit 26E
$3.4B
Proj. CAGRi
—
Net Margini
-4.4%
Average Targeti
$14.95+8%
Consensusi
Hold
21 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 the company's three-segment restructuring — separating Ford Pro, Ford Blue, and Model e — and a willingness to publicly quantify the EV losses rather than bury them. His background is in brand and commercial operations, which explains the emphasis on Ford Pro's software and services pivot as the 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 transitioned to the board. She previously served as CFO of Waymo, bringing a technology-industry capital allocation perspective to a company navigating heavy EV investment cycles. Her focus on narrowing Model e losses and strengthening Ford Pro's margin profile has been the near-term priority since joining.
Other key figures
Marin Gjaja leads the Model e segment as COO and is the execution owner for Ford's EV pivot strategy. Kumar Galhotra serves as President of Ford Blue, overseeing the ICE consumer business that funds the EV transition. Both are internal operators with deep automotive backgrounds rather than outside hires.
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
Ford's Q1 2026 results, reported April 29, 2026, beat earnings estimates and prompted management to raise full-year adjusted EBIT guidance to a range of $8.5B–$10.5B, up from the prior $8B–$10B outlook — a notable acceleration driven by higher-value vehicle mix, pricing discipline, and growing software and services revenue.
Ford Pro, the commercial vehicle unit, continued to be the standout segment, with recurring telematics and software subscription revenues contributing meaningfully to margin quality — a structural shift that analysts have been watching closely as a re-rating catalyst.
The 2025 full-year result was clouded by $15.5 billion in non-cash impairment charges — primarily EV-related write-downs and program cancellations — which produced a large reported net loss. Stripping these out, adjusted EBIT for 2025 was approximately $6.8B, and the underlying operating engine remained intact.
Q4 2025, reported February 10, 2026, was the one weak link: adjusted EPS missed consensus by roughly 30%, the largest quarterly earnings miss in four years. Revenue beat expectations, but a late-year tariff-related headwind on imported parts was the primary culprit.
Recent developments
CEO Jim Farley acknowledged on the February 2026 earnings call that Ford's EV unit, Model e, lost approximately $4.8 billion in 2025 at the operating level — the sharpest admission yet that the EV push has been a drag on the broader business. The break-even target for Model e has been pushed to 2029.
Tariffs have become a material headwind: an unexpected shift in tariff credits for auto parts hit Q4 2025 with a roughly $1 billion charge, and ongoing import duties on parts from Mexico and Canada remain a cost overhang heading into the second half of 2026.
Ford outlined a revised EV strategy targeting the $30,000–$35,000 affordable segment, citing BYD's low-cost approach as a competitive reference point. Farley has characterized this as a reset, not a retreat, arguing the mass-market EV price band is where sustainable demand exists without subsidy dependency.
Sherry House took over as CFO in February 2025, replacing John Lawler who moved to a board role. The transition was orderly and House's focus on capital allocation discipline has been well-received by the analyst community.
Debate & sentiment
The bull case centers on Ford Pro: the commercial segment carries superior margins relative to the consumer business, and its software and telematics attach rates are growing — giving Ford a recurring-revenue profile that is not yet reflected in the stock's depressed valuation multiples.
Sceptics point to the EV division's sustained losses and the cost of the strategic pivot, arguing that billions in additional capital will be required before Model e reaches profitability — and that the 2029 break-even target is already slipping. The impairment history suggests prior forecasts were too optimistic.
Tariff exposure and a highly cyclical demand environment are the macro risks keeping the HOLD consensus in place. Any demand recession would compress Ford Pro volumes precisely when the segment is meant to drive the recovery thesis.
The path to re-rating likely runs through two proof points: sustained Ford Pro margin expansion and the first Model e quarterly loss-narrowing that beats management's own guidance.
Consensusi
Hold
Average targeti
$14.95+8%
Highest targeti
$20.00+44%
Lowest targeti
$11.00-21%
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