Ford Motor Company

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.

Is the business growing?

In the fiscal year to Dec 2025, Vehicles, parts, and accessories was 89% and Financing income was 4% of revenue; Vehicles, parts, and accessories fell from 91% in the fiscal year to Dec 2023.

In the fiscal year to Dec 2025, United States was 65% and All Other was 19% of revenue.

Quarters: Ford Motor Company's SEC filings, named by the month they end. Fiscal years: Ford Motor Company's annual reports to the SEC.

How it makes money

The company loses $4.4 for every $100 of revenue. Operating expenses exceed all of gross profit.

Each margin is that line of the income statement divided by revenue. Fiscal year: Ford Motor Company's annual reports to the SEC; quarters: SEC filings.

Is inventory piling up?

Ford Motor Company held $16.2B of inventory at the end of Sep 2026, down 1.7% from a year earlier, while its revenue for the quarter fell 2.0% against the same quarter a year earlier. Inventory kept pace with sales. At the last four quarters' cost of sales, the inventory would last 35 days, against 37 a year earlier.

From Ford Motor Company's SEC filings: inventory at each quarter end, against the same quarter end a year earlier, and the quarter's revenue against the same quarter a year earlier. Inventory days: inventory over the cost of sales of the four quarters to that date, times 365. Gross margin: gross profit over revenue, by quarter.

Customers and suppliers

In its latest annual report Ford Motor Company buys from Novelis, Ford Otosan.

Their suppliers

D-Wave Quantum QBTSto Ford Otosan

Show 1

Suppliers

Ford Otosan FROTO.IS

Novelis

 

FFord Motor Company

Customers

B

Berkshire Hathaway BRK-B

Their customers

Boeing BAfrom Berkshire Hathaway

GE Aerospace GEfrom Berkshire Hathaway

RTX RTXfrom Berkshire Hathaway

Show 3

Partners

IIonityFord Motor Company invested in it · Equity investment15% equity interest

RRouteOneFord Motor Company invested in it · Equity investment30% equity interest

DDiesel Song Cong One Member Limited Liability CompanyCo-owns vehicle assembly and distribution venture25% interest in Ford Vietnam Limited

AAATManufactures Ford and Mazda vehicles50/50 joint venture

MMazdaCo-owns vehicle manufacturing venture50/50 joint venture

BBOSKBuilds and operates EV battery plants50/50 joint venture

SK OnCo-owns EV battery manufacturing venture50/50 joint venture among Ford, SK On, SKBA

SSKBACo-owns EV battery manufacturing venture50/50 joint venture among Ford, SK On, SKBA

CCAFProduces and distributes Ford and Lincoln vehicles50/50 joint venture

CChanganCo-owns vehicle manufacturing and distribution venture50/50 joint venture

Ford Otosan FROTO.ISManufactures and distributes Ford vehiclesFord holds 41% interest

KKoc GroupCo-owns Ford Otosan vehicle manufacturing venture41% interest in Ford Otosan

JJMCAssembles vehicles and enginesFord holds 32% interest

NNanchang Jiangling InvestmentCo-owns JMC vehicle manufacturing venture41% interest in JMC

Changes since the previous annual report (10-K filed Feb 6, 2025)

NovelisNamed for the first time, as a supplier

RRouteOneNamed for the first time, as a partner30% equity interest

TTIER MobilityNo longer named (was a partner)

Named in other companies’ filings

Ballard Power Systems BLDPjoint venture with it · Co-owns intellectual property holding company33% of BDF IP Holdings voting, non-participating shares

Only the companies Ford Motor Company names in its 10-K filed Feb 11, 2026 (SEC). Named in other companies' filings: those whose own latest annual report or an 8-K since names Ford Motor Company. The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Hover a name for the filing's own words.

Is it expensive?

Currently unprofitable, so P/E does not apply, so we look at price-to-sales instead: 0.3x, below the peer median of 2.9x. Revenue is down 2% from a year ago.

Below the peer median of 2.9x. The market pays less per $1 of revenue than for peers.

Ford Motor Company is currently unprofitable, so P/E does not apply. We use price-to-sales instead: market cap as a multiple of revenue.

What analysts expect

The average analyst price target is $15.14, 27% above the current price; 40% of 20 analysts rate it a buy; earnings beat estimates in 3 of the last 4 quarters.

Buy or Strong Buy: 8 analysts (40%). Sell or Strong Sell: 0.

Over the past year the average of the analysts' latest price targets went from $12.22 to $15.19 (+24%), while F went from $13.28 to $11.90 (−10%). In the past three months targets were cut 7 times and never raised. 4 upgrades and no downgrades over the year; the latest: Citigroup moved it to Buy from Neutral on Jul 29, 2026.

The day after each of these reports the stock moved +1.9% (Dec 2025, missed); −2.6% (Mar 2026, beat); +4.1% (Jun 2026, beat); +5.6% (Sep 2026, beat).

For the quarter ending Dec 2026, analysts expect adjusted earnings of $0.35 a share, 170% more than the $0.13 of a year earlier, and revenue of $45.7B, down 0.4% on a year earlier. For the fiscal year ending Dec 2027, they expect adjusted earnings of $1.89 a share.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Generated $5.2B in free cash flow over the year, of which $2.7B went back to shareholders (dividends plus buybacks), leaving $2.4B in the company.

Ford Motor Company had 4.08B diluted shares in the quarter ended Sep 2026, 0.7% more than a year earlier, and 0.3% more each year on average since Jun 2020. It spent $311M on buybacks over the last four quarters.

Free cash flow: operating cash flow minus capital spending on property, plant and equipment, from SEC filings, for the last 4 quarters and by quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.

Financial health

Current ratio 1.1, short-term debt is manageable; shareholder equity is only 12% of assets, so debt-to-equity (4.5) says little; net debt is 8.3 years of operating cash flow, which is heavy.

Latest fiscal year balance sheet. Source: Yahoo Finance.

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 10 held F at the end of their latest quarter (for most, Q3 2026). Over that quarter 6 added shares, 3 cut and 1 bought new. The largest of them is Norges Bank, 51.71M shares worth $719M at Jun 30, 2026, 0.6% more than at Dec 31, 2025.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of F at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end. Norges Bank filed its 13F for Q1 2026 confidentially, with no holdings made public, so its row compares Q2 2026 with Q4 2025.

Are insiders buying or selling?

Officers and directors bought $2.2M of F on the open market in the 12 months to Nov 12, 2026; none sold. The largest was William Clay Ford Jr (Executive Chair and Chair; director), who bought $1.9M in 1 purchase.

From the Form 4s filed with the SEC about Ford Motor Company (93 in the 12 months): purchases (code P) and sales (code S) on the open market by its officers and directors, at the price each filing gives (often an average of the day's trades). A sale is a 10b5-1 sale when its filing says it was made under such a plan, set up in advance. Not counted: 145 other transactions (grants, option exercises, shares withheld for tax, gifts and other transfers).

Insights that mention F