Ford Motor Company Revenue & Financials

The number that defines Ford in 2026 isn't revenue — it's the gap between what the company earns and what the market thinks it's worth. Revenue hit $187.3 billion in FY2025. Market cap: $38.2 billion. That's a price-to-sales ratio of about 0.2x. For context, Toyota trades at roughly 1x sales. Tesla trades at 8x. The market is essentially saying Ford's revenue is low-quality — too capital-intensive, too cyclical, too burdened by EV losses to deserve a premium. Dig into the segments and the picture sharpens. Ford Pro generated $66.3 billion in revenue with $6.8 billion in EBIT — a 10.3% margin that would be respectable for any industrial company. Ford Blue produced $114.4 billion in revenue but only $3 billion in EBIT, squeezed by warranty costs and the UAW contract. Model e generated $6.7 billion in revenue and lost $4.8 billion. Net income for the full year was approximately negative $8.2 billion after special items, though adjusted EBIT was $6.8 billion. The revenue trajectory tells a recovery story: from $127 billion in pandemic-hit 2020 to $187 billion in 2025, a 47% increase in five years. But profitability hasn't kept pace because every dollar of truck profit gets partially consumed by EV investment and quality remediation. Ford Credit remains quietly profitable, providing financing that smooths vehicle sales and generates recurring income through lease renewals. The balance sheet carries significant debt from the 2006 Mulally-era borrowing and subsequent capital needs, though liquidity remains adequate for near-term operations.