Latest Ratios: P/E Ratio -6.4x · EV/EBITDA 23.0x · ROE -20.2%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $52.2B | $52.2B | $39.8B | $49.3B | $46.7B | $83.8B | $34.9B | $37.2B | $30.6B | $50.0B | $48.5B |
| Enterprise Value | $196.5B | $196.4B | $177.7B | $175.5B | $162.0B | $202.7B | $172.7B | $176.5B | $168.1B | $185.8B | $175.6B |
| P/E Ratio → | -6.36 | — | 6.78 | 11.29 | — | 4.67 | — | 930.00 | 8.32 | 6.57 | 10.55 |
| P/S Ratio | 0.28 | 0.28 | 0.22 | 0.28 | 0.30 | 0.61 | 0.27 | 0.24 | 0.19 | 0.32 | 0.32 |
| P/B Ratio | 1.45 | 1.45 | 0.89 | 1.15 | 1.08 | 1.72 | 1.13 | 1.12 | 0.85 | 1.43 | 1.66 |
| P/FCF | 4.19 | 4.19 | 5.91 | 7.37 | — | 8.76 | 1.88 | 3.72 | 4.22 | 4.52 | 3.79 |
| P/OCF | 2.45 | 2.45 | 2.58 | 3.30 | 6.81 | 5.31 | 1.44 | 2.11 | 2.04 | 2.76 | 2.45 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.05 | 0.96 | 1.00 | 1.03 | 1.49 | 1.36 | 1.13 | 1.05 | 1.18 | 1.16 |
| EV / EBITDA | 23.04 | 23.04 | 16.21 | 14.75 | 12.56 | 18.44 | 59.96 | 19.52 | 14.66 | 14.43 | 14.28 |
| EV / EBIT | 77.59 | — | 21.29 | 33.31 | — | 10.35 | — | 321.41 | 53.30 | 41.98 | 49.06 |
| EV / FCF | — | 15.76 | 26.37 | 26.27 | — | 21.21 | 9.32 | 17.63 | 23.22 | 16.82 | 13.72 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.2% | 12.2% | 12.7% | 13.8% | 15.9% | 18.0% | 10.0% | 12.3% | 14.2% | 15.3% | 15.2% |
| Operating Margin | 1.4% | 1.4% | 2.8% | 3.1% | 4.1% | 3.7% | -3.6% | 0.4% | 2.0% | 2.8% | 2.4% |
| Net Profit Margin | -4.4% | -4.4% | 3.2% | 2.5% | -1.3% | 13.2% | -1.0% | 0.0% | 2.3% | 4.9% | 3.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -20.2% | -20.2% | 13.4% | 10.1% | -4.3% | 45.2% | -4.0% | 0.1% | 10.3% | 24.0% | 15.8% |
| ROA | -2.8% | -2.8% | 2.1% | 1.6% | -0.8% | 6.8% | -0.5% | 0.0% | 1.4% | 3.1% | 2.0% |
| ROIC | 1.0% | 1.0% | 2.2% | 2.5% | 2.9% | 2.2% | -2.0% | 0.2% | 1.4% | 2.0% | 1.8% |
| ROCE | 1.4% | 1.4% | 2.9% | 3.3% | 3.9% | 3.0% | -2.8% | 0.3% | 1.9% | 2.8% | 2.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.66 | 4.66 | 3.59 | 3.53 | 3.25 | 2.87 | 5.29 | 4.72 | 4.28 | 4.41 | 4.88 |
| Debt / EBITDA | 19.65 | 19.65 | 14.67 | 12.70 | 10.89 | 12.69 | 56.60 | 17.34 | 13.46 | 11.98 | 11.63 |
| Net Debt / Equity | — | 4.01 | 3.07 | 2.95 | 2.67 | 2.45 | 4.47 | 4.19 | 3.81 | 3.88 | 4.34 |
| Net Debt / EBITDA | 16.91 | 16.91 | 12.58 | 10.61 | 8.94 | 10.82 | 47.83 | 15.40 | 12.00 | 10.54 | 10.33 |
| Debt / FCF | — | 11.57 | 20.47 | 18.89 | — | 12.44 | 7.44 | 13.91 | 19.00 | 12.29 | 9.93 |
| Interest Coverage | -8.43 | -8.43 | 7.49 | 4.05 | -1.40 | 10.86 | -2.78 | 0.54 | 2.55 | 3.14 | 2.84 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.07 | 1.07 | 1.16 | 1.20 | 1.20 | 1.20 | 1.20 | 1.16 | 1.20 | 1.23 | 1.20 |
| Quick Ratio | 0.94 | 0.94 | 1.02 | 1.04 | 1.06 | 1.07 | 1.09 | 1.05 | 1.08 | 1.12 | 1.10 |
| Cash Ratio | 0.33 | 0.33 | 0.36 | 0.40 | 0.45 | 0.55 | 0.51 | 0.35 | 0.36 | 0.41 | 0.43 |
| Asset Turnover | — | 0.65 | 0.65 | 0.64 | 0.62 | 0.53 | 0.48 | 0.60 | 0.63 | 0.61 | 0.64 |
| Inventory Turnover | 10.76 | 10.76 | 10.81 | 9.70 | 9.44 | 9.27 | 10.59 | 12.68 | 12.26 | 12.92 | 14.47 |
| Days Sales Outstanding | — | 125.77 | 131.35 | 128.49 | 125.74 | 117.56 | 150.41 | 147.24 | 149.22 | 146.23 | 137.94 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.7% | 5.7% | 7.8% | 10.1% | 4.3% | 0.5% | 1.7% | 6.4% | 9.5% | 5.2% | 7.0% |
| Payout Ratio | — | — | 53.0% | 114.9% | — | 2.2% | — | 5083.0% | 79.0% | 33.4% | 73.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 14.7% | 8.9% | — | 21.4% | — | 0.1% | 12.0% | 15.2% | 9.5% |
| FCF Yield | 23.9% | 23.9% | 16.9% | 13.6% | — | 11.4% | 53.1% | 26.9% | 23.7% | 22.1% | 26.4% |
| Buyback Yield | 0.0% | 0.0% | 1.1% | 0.7% | 1.0% | 0.0% | 0.0% | 0.6% | 0.5% | 0.3% | 0.3% |
| Total Shareholder Yield | 5.7% | 5.7% | 8.9% | 10.8% | 5.3% | 0.5% | 1.7% | 7.1% | 10.0% | 5.4% | 7.3% |
| Shares Outstanding | — | $4.0B | $4.0B | $4.0B | $4.0B | $4.0B | $4.0B | $4.0B | $4.0B | $4.0B | $4.0B |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying F stock.
Ford Motor Company's current P/E ratio is -6.4x. The historical average is 12.4x.
Ford Motor Company's current EV/EBITDA is 23.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.2x.
Ford Motor Company's return on equity (ROE) is -20.2%. The historical average is 11.1%.
Based on historical data, Ford Motor Company is trading at a P/E of -6.4x. Compare with industry peers and growth rates for a complete picture.
Ford Motor Company's current dividend yield is 5.73%.
Ford Motor Company has 12.2% gross margin and 1.4% operating margin.
Ford Motor Company's Debt/EBITDA ratio is 19.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
EV losses and warranty costs
Metrics are mathematically derived from official filings.
Margin Volatility Masks Structural Pressures
Gross margin swung from 18.4% in 2026Q1 to 12.6% in 2026Q2, while operating margin fell to 1.3%, per recent filings. This volatility suggests Ford struggles to maintain pricing power amid EV investments and warranty costs.
The 2025Q4 gross margin of 3.7% and net margin of -24.1% highlight the impact of non-recurring charges, but even excluding those, the trend is erratic. The 2026Q2 operating margin of 1.3% is well below the 5.4% seen in 2026Q1, indicating that cost pressures and product mix are eroding profitability. Investors should monitor whether management's 'more profitable, more disciplined' pivot translates into sustained margin expansion beyond the current 12.2% gross margin level.
Return on Capital Decaying Amid Heavy Investment
ROIC has been consistently below 1% over the past ten quarters, with 2026Q2 at 0.3%, as reported in financial statements. This suggests Ford is not generating adequate returns on its massive capital base, particularly in the EV segment.
ROE turned negative at -3.6% in 2026Q2, and the 2025Q4 ROE of -26.5% reflects the impact of large write-downs. The persistent low ROIC, despite high capital expenditures, indicates that the company is investing heavily in areas that are not yet yielding returns. This may imply that the capital allocated to Model e is destroying value, and investors should watch for any improvement in ROIC as a sign that the EV transition is becoming more efficient.
Working Capital Efficiency Deteriorates
Cash conversion cycle lengthened to 98 days in 2026Q2 from 108 days in 2026Q1, driven by DSO of 119 days, per company data. This suggests Ford is taking longer to collect receivables, potentially straining liquidity.
DSO has been volatile, ranging from 119 to 146 days over the past year, while DPO has remained relatively stable around 56-66 days. The increase in CCC indicates that Ford is tying up more cash in working capital, which may be a result of slower sales or changes in dealer financing. This trend, combined with the $20B drop in deferred revenue from 2026Q1 to 2026Q2, suggests that working capital swings are a major source of cash flow volatility.
Leverage Elevated but Distorted by Ford Credit
Debt-to-equity stands at 4.57, but this is inflated by Ford Credit's financing arm, as noted in recent filings. Excluding Ford Credit, industrial leverage appears more manageable, though interest coverage turned negative in 2026Q2.
Interest coverage fell to -4.57 in 2026Q2, down from 16.15 in 2026Q1, reflecting the sharp drop in operating income. The D/EBITDA ratio of 78.89 in 2026Q2 is alarming, but it is distorted by the low EBITDA in that quarter. Investors should focus on the automotive segment's debt levels, which are not disclosed separately, to assess true refinancing risk. The recent equity erosion from $44.8B to $35.7B over six quarters suggests a weakening balance sheet that could constrain future capital allocation.
Liquidity Buffer Thins as Cash Declines
Current ratio improved slightly to 1.09 in 2026Q2, but cash fell to $18.6B from $23.4B, per the latest balance sheet. This suggests a modest liquidity squeeze, though the quick ratio of 0.93 indicates inventory dependence.
The quick ratio has been consistently below 1.0, indicating that Ford relies on inventory to meet short-term obligations. With cash declining and working capital needs rising, the liquidity position could become strained under a severe downturn. However, the $23.3B cash balance mentioned in the intelligence suggests a buffer, but the trend is concerning. Investors should monitor whether Ford can maintain its dividend and capital spending without further eroding its cash position.
Misapplied EV/EBITDA Distorts Ford's Value
EV/EBITDA of 23.67 appears expensive, but this is distorted by Ford Credit's debt and low EBITDA, as per financial data. A more appropriate metric is P/FCF of 4.62, which reflects the industrial cash generation.
The EV/EBITDA multiple is commonly used for automakers, but for Ford, it is misleading because the enterprise value includes Ford Credit's debt, which is not part of the manufacturing operations. Additionally, EBITDA is depressed by non-cash charges and EV losses, making the multiple appear artificially high. Investors should instead focus on price-to-free-cash-flow, which at 4.62 suggests the market is pricing in significant cyclical risk. This metric better captures the cash-generating ability of the core automotive business, excluding the financing arm's leverage.