Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Ford Motor Company's FY2025 10-K reveals a dramatic swing to a -$9.2B operating loss driven by a 10.1% surge in cost of revenue and a doubling of D&A charges, even as revenue grew modestly 1.2% to $187.3B and operating cash flow surged 38% to $21.3B.
Revenue
$187.27B
+1.23% YoY
EPS (Diluted)
-$2.06
-241.10% YoY
Operating Income
-$9.17B
-275.68% YoY
Source: SEC XBRL
Ford Motor (F) reported FY2025 revenue of $187.27B, up 1.2% year over year. Operating margin was -4.9%, against 2.8% a year earlier. Operating cash flow was $21.28B, up 38.0% year over year.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 0.42 | 0.36 | Beat +17.7% |
| Mar 2026 | 0.66 | 0.19 | Beat +245.4% |
| Dec 2025This filing | 0.13 | 0.19 | Miss -31.9% |
| Sep 2025 | 0.45 | 0.37 | Beat +21.2% |
Reported EPS of $0.13 versus the $0.19 analyst consensus — a -31.9% miss for Dec 2025.
Compiled by AI from this SEC filing
Ford's total revenue grew just 1.2% year-over-year to $187.3B in FY2025, while cost of revenue jumped 10.1% to $174.5B, severely compressing margins and turning operating income deeply negative at -$9.2B versus a positive $5.2B in the prior year.
Source: 10-K Income Statement
D&A charges surged 111.1% to $16.0B from $7.6B in the prior year, which is the primary driver of the operating loss and likely reflects accelerated depreciation on legacy assets or significant impairment charges related to Ford's EV and restructuring initiatives.
Source: 10-K Cash Flow Statement
Research and development expenses rose 17.5% to $9.4B in FY2025, reflecting Ford's continued investment in electric vehicles and software-defined vehicle technology, even as profitability deteriorated sharply.
Source: 10-K Income Statement
Despite the large operating loss on an accrual basis, Ford generated $21.3B in operating cash flow in FY2025, up 38.0% from $15.4B, suggesting the operating loss is heavily influenced by non-cash charges such as the doubled D&A expense.
Source: 10-K Cash Flow Statement
Stockholders' equity declined 19.8% to $36.0B while total liabilities rose 5.3% to $253.2B, pushing the debt-to-equity ratio to a high 7.04x, indicating increased financial leverage and reduced balance sheet cushion for investors.
Source: 10-K Balance Sheet
Compiled by AI from this SEC filing · 3 high, 2 medium, 0 low
Ford's cost of revenue grew 10.1% while revenue grew only 1.2%, resulting in an operating margin collapse from +2.8% to -4.9%. If cost pressures from materials, labor, warranty, or EV-related charges persist, Ford's path back to profitability becomes uncertain.
Source: 10-K Income Statement
Ford's debt-to-equity ratio stands at 7.04x with total liabilities of $253.2B against equity of only $36.0B. This elevated leverage limits financial flexibility, increases interest burden, and makes the company vulnerable to economic downturns or credit market tightening.
Source: 10-K Balance Sheet
The doubling of D&A to $16.0B and the 17.5% increase in R&D to $9.4B suggest Ford is bearing heavy costs from its EV transition, including potential asset write-downs on legacy platforms. If EV demand does not materialize as expected, further impairments are possible.
Source: 10-K Cash Flow Statement & Income Statement
Current liabilities rose 7.5% to $114.9B while current assets fell 0.8% to $123.5B, leaving a current ratio of just 1.07x. This razor-thin liquidity margin leaves Ford with limited room to absorb unexpected short-term cash demands.
Source: 10-K Balance Sheet
Ford suspended share buybacks entirely in FY2025 (down from $426M in the prior year), suggesting management is prioritizing cash conservation amid deteriorating profitability. This may signal concern about future cash generation or covenant compliance.
Source: 10-K Cash Flow Statement
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 187.27 $B | 184.99 $B | +1.23% |
Cost of Revenue $B | 174.47 $B | 158.43 $B | +10.12% |
Operating Income $B | -9.17 $B | 5.22 $B | -275.68% |
EPS (Basic) $ | -2.06 $ | 1.48 $ | -239.19% |
EPS (Diluted) $ | -2.06 $ | 1.46 $ | -241.10% |
R&D Expense $B | 9.40 $B | 8.00 $B | +17.50% |
SG&A Expense $B | 10.85 $B | 10.29 $B | +5.46% |
Answers draw on this SEC filing and the data on this page
In 2026-Q2, Ford Motor Company reported revenues of $48.30B and an operating profit of $638M, but recorded a net loss attributable to the company of $1.33B primarily due to $2.76B in equity losses and non-cash charges from affiliated joint ventures.
Ford Motor Company delivered a strong Q1 2026 with revenue rising 6.4% YoY to $43.3B and operating income surging 630% to $2.3B, though operating cash flow fell sharply and leverage remains elevated.
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