# Ford Motor Company (F)

> Source: Nexqual · https://nexqual.com/F · data as of 2026-10-22 20:03 UTC · cite as "Nexqual, Ford Motor Company (F), nexqual.com/F" · informational, not investment advice.

**Price:** USD 11.94 (+0.34% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 11.9 · day 11.79–12.05 · 52w 11.11–17.78 · market cap $47.6B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $188B, net income -$7.38B (-3.9% margin), free cash flow $7.28B (SEC filings).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $149K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.45 on a 1–5 scale) (20 analysts), mean target USD 15.56 (range 12.8–20).
- Total return with dividends: 1Y +1.3% vs S&P 500 +14.9%; 5Y +0.0% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 0.4, revenue estimate $45.8B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $136B | $158B | $176B | $185B | $187B | $188B |
| Gross profit | $21.7B | $23.7B | $25.6B | $26.6B | $12.8B | — |
| Operating income | $4.52B | $6.28B | $5.46B | $5.22B | -$9.17B | -$7.03B |
| Net income | $17.9B | -$1.98B | $4.35B | $5.88B | -$8.16B | -$7.38B |
| EPS (diluted) | $4.45 | -$0.49 | $1.08 | $1.46 | -$2.06 | — |
| Free cash flow | $9.56B | -$13.0M | $6.68B | $6.74B | $12.5B | $7.28B |
| Gross margin | 15.9% | 15.0% | 14.6% | 14.4% | 6.8% | — |
| Operating margin | 3.3% | 4.0% | 3.1% | 2.8% | -4.9% | -3.7% |
| Net margin | 13.2% | -1.3% | 2.5% | 3.2% | -4.4% | -3.9% |
| Revenue growth | +7.2% | +15.9% | +11.5% | +5.0% | +1.2% | — |
| Cash + short-term investments | $49.6B | $44.1B | $40.2B | $38.3B | $38.5B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.3x · P/FCF 6.5x · P/B 1.3x · FCF yield 15.29% · Earnings yield -15.49% · Dividend yield (paid, TTM) 5.04% · Buyback yield (TTM) 0.65%
P/E at fiscal year-ends: Dec 2024 6.8x, Dec 2023 11.3x.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $149K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-23 | Thornton John L | Director | 10,600 | $149K | 14.05 | Too little history (no open-market trades in 2023) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.45 on a 1–5 scale), 20 analysts; mean target USD 15.56 (low 12.8, high 20).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | JP Morgan | Target lowered | Overweight | $17 → $16 |
| 2026-10-07 | UBS | Target lowered | Buy | $17 → $15 |
| 2026-10-06 | Goldman Sachs | Target lowered | Neutral | $16 → $14 |
| 2026-07-30 | BNP Paribas | Target raised | Neutral | $14 → $14.5 |
| 2026-07-29 | Citigroup | Upgrade | Neutral → Buy | $19 → $20 |
| 2026-07-29 | JP Morgan | Target raised | Overweight | $16 → $17 |
| 2026-07-29 | TD Cowen | Target raised | Hold | $13 → $15 |
| 2026-07-29 | Piper Sandler | Target raised | Overweight | $16 → $17 |
| 2026-07-29 | RBC Capital | Target raised | Sector Perform | $13 → $15 |
| 2026-07-27 | Jefferies | Upgrade | Hold → Buy | $14.5 → $17.5 |
| 2026-07-17 | JP Morgan | Target raised | Overweight | $15 → $16 |
| 2026-07-14 | BNP Paribas | Target raised | Neutral | $13 → $14 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +1.3% | +0.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +1.3% | +0.0% |
| Volatility (annualized) | 37.6% | 39.9% |
| Max drawdown | -31.0% (May 2026→Oct 2026) | -55.6% (Jan 2022→Oct 2023) |

## Peers (Auto Manufacturers)
HMC (Honda Motor Company, Ltd.) USD 34.58 +1.80% · GM (General Motors Company) USD 77.21 +1.45% · RACE (Ferrari N.V.) USD 397.66 +0.11% · RIVN (Rivian Automotive, Inc.) USD 12.06 -3.21% · STLA (Stellantis N.V.) USD 4.27 +1.18% · LI (Li Auto Inc.) USD 11.47 -0.26%

## More
Full page: https://nexqual.com/F · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in F's own 10-K filed 2026-02-11 (https://www.sec.gov/Archives/edgar/data/37996/000003799626000015/f-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Novelis | "Novelis is a major aluminum supplier to Ford, and since the initial fire occurred, we have been working closely with Novelis to address the situation and exploring potential alternative sources of aluminum." |

Other companies that name F in their own reports (relationship from F's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | WINNEBAGO INDUSTRIES INC (WGO) | 10-K 2026-10-21 | "In the case of motorhome RV chassis, Mercedes-Benz (USA and Canada), Stellantis N.V., Freightliner Trucks, Ford Motor Company, and Spartan RV Chassis are our major suppliers." |
| supplier | IPERIONX Ltd (IPX) | 20-F 2026-09-29 | "Programs with Ford and consumer-electronics customers demonstrate the flexibility of the platform to supply both titanium powder and manufactured components." |
| partner | LuxExperience B.V. (LUXE) | 20-F 2026-09-16 | "NET-A-PORTER launched more than 25 exclusive collaborations and campaigns with brands including KHAITE, TOTEME, Tom Ford, Chloé, Rabanne, JW Anderson, Aquazzura and Carolina Herrera, coupled with excl…" |
| supplier | STRATTEC SECURITY CORP (STRT) | 10-K 2026-08-28 | "In fiscal 2026, our three largest customers, General Motors Company, Ford Motor Company and Stellantis, accounted for 27%, 21% and 16%, respectively, of our annual sales." |
| customer | American Outdoor Brands, Inc. (AOUT) | 10-K 2026-06-25 | "From November 2015 to November 2018, Mr. Vulgamott was Division Controller for the Outdoor Products & Accessories Division of Smith & Wesson Brands Inc. From April 2011 to October 2015, Mr. Vulgamott …" |
| supplier | Powerfleet, Inc. (AIOT) | 10-K 2026-06-15 | "Some of our global customers that benefit from our combined solutions to power their specific AIoT and machine-to-machine mobility needs include Holcim, Ford, Avis, Walmart, Toyota, and XPO Logistics." |
| supplier | NGL Energy Partners LP (NGL-PB) | 10-K 2026-05-28 | "Additionally, the year ended March 31, 2025 benefited from higher terminaling revenue from an acreage dedication in the Eagle Ford Basin and higher throughput revenue from crude oil transported on thi…" |
| customer | FLEX LTD. (FLEX) | 10-K 2026-05-20 | "We also received recognition from our customers, including being named a top-performing supplier at Ford's annual Supplier" |
| customer | WeRide Inc. (WRD) | 20-F 2026-04-23 | "We partner with JMC-Ford Motors and Ecar Tech to manufacture our robovans." |
| supplier | China Automotive Systems, Inc. (CAAS) | 20-F 2026-04-22 | "For overseas customers, the Company has supplied power steering gear to Stellantis N.V. since 2009 and to Ford Motor Company since 2016." |
| competitor | Polestar Automotive Holding UK PLC (PSNY) | 20-F 2026-04-17 | "Many of Polestar's competitors, including Tesla, established automakers such as Mercedes-Benz, Audi and General Motors (including via its investments in Cruise Automation), and technology companies in…" |
| customer | Polar Power, Inc. (POLA) | 10-K 2026-04-15 | "from our key engine suppliers, Yanmar Engines Company, Toyota Corporation, and Engine Distributors Inc. (for Ford engines)." |
| competitor | Workhorse Group Inc. (WKHS) | 10-K 2026-03-31 | "Companies currently competing in the fleet logistics market offering alternative fuel medium-duty vehicles include General Motors, Ford Motor Company, Freightliner, Harbinger, and XOS." |
| competitor | FARADAY FUTURE INTELLIGENT ELECTRIC INC. (FFAI) | 10-K 2026-03-31 | "The FX 6 is intended to compete in a segment that includes vehicles such as the Toyota bZ4X, Hyundai Ioniq 5, Kia EV6, and Ford Mustang Mach-E." |
| partner | Venu Holding Corp (VENU) | 10-K 2026-03-31 | "provides that FDAF will be the official name and title partner of Ford Amphitheater with exclusivity in the automotive category and that" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Company excluding Ford Credit | $44.89B | 92.9% | -4.4% |
| — Ford Blue (part of Company excluding Ford Credit) | $26.07B | 54.0% | +1.1% |
| — Ford Pro (part of Company excluding Ford Credit) | $17.79B | 36.8% | -5.4% |
| — Ford Model e (part of Company excluding Ford Credit) | $1.03B | 2.1% | -56.5% |
| Ford Credit | $3.40B | 7.1% | +5.1% |
| Total revenue | $48.30B | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Revenues from sales and services | $44.81B | 92.8% | -4.4% |
| — Vehicles, parts, and accessories (part of Revenues from sales and services) | $42.74B | 88.5% | -5.5% |
| — Used vehicles (part of Revenues from sales and services) | $1.10B | 2.3% | +41.4% |
| — Services and other revenue (part of Revenues from sales and services) | $972.0M | 2.0% | +10.0% |
| Leasing income | $80.0M | 0.2% | +3.9% |
| Total revenue | $48.30B | 100% | — |
The lines above cover 92.9% of total revenue.

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| U.S. Plans | $122.57B | 65.5% | -1.9% |
| Other Geographical | $35.38B | 18.9% | +3.9% |
| Canada | $14.55B | 7.8% | +8.5% |
| United Kingdom | $12.30B | 6.6% | +23.8% |
| Mexico | $2.46B | 1.3% | -6.5% |
| Total revenue | $187.27B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.40 | $0.36 | +10.6% | $45.81B | 15 |
| Next quarter (ends 2026-12-31) | $0.39 | $0.33 | +19.8% | $45.68B | 13 |
| Current fiscal year (ends 2026-12-31) | $1.84 | $1.64 | +12.3% | $175.24B | 19 |
| Next fiscal year (ends 2027-12-31) | $1.92 | $1.82 | +5.2% | $178.76B | 19 |