Ford vs ICICI Bank: Revenue, Profit and Business Model
Ford reported $187.3B of revenue in FY2025 and a net loss of $8.2B. ICICI Bank reported ~$23B of revenue in FY2026 and ~$6.3B of net income.
Latest financial snapshot
Ford
- Latest revenue
- $187.3B (FY2025)
- Net income
- -$8.2B
- Net margin
- -4.4%
- Revenue growth
- +2.4% a year, FY2016–FY2025
ICICI Bank
- Latest revenue
- ~$23B (FY2026)
- Net income
- ~$6.3B
- Net margin
- 27.4%
- Revenue growth
- +19.0% a year, FY2022–FY2026
Financial summary
Ford
Ford's numbers show a profitable truck and fleet business funding an expensive EV reset. FY2025 revenue rose 1.2% to $187.267B, but Ford posted an $8.162B net loss as Model e lost $4.806B at EBIT and the company took charges tied to its December 2025 decision to cancel some EV programs. Ford Pro earned $6.843B of EBIT. In Q2 2026, revenue fell 4% to $48.3B on lower wholesale volumes and aluminum shortages linked to supplier Novelis, and the $1.3B net loss included $3.6B of charges for exiting the BlueOval SK battery joint venture. Adjusted EBIT still rose 17% to $2.5B, adjusted free cash flow was $2.1B, and liquidity exceeded $43B.
ICICI Bank
ICICI Bank's finances moved from crisis to steady compounding over a decade. Bad corporate loans to infrastructure, power, and steel projects drove a non-performing asset surge between 2015 and 2018. After Sandeep Bakhshi became CEO in October 2018, the bank cut concentrated corporate exposure and rebuilt around granular retail and business lending. Standalone net profit reached Rs 47,227 crore in FY2025 and Rs 50,146.6 crore in FY2026, a 6.2% rise as margins held at 4.32%. Profit growth picked up again in Q1 FY2027 to 15.9% (Rs 14,805 crore), helped by 12.7% net interest income growth, 23.5% fee growth, and lower provisions. Consolidated Q1 FY2027 profit was about Rs 15,440 crore.
Revenue and profit by year
Ford
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $187.3B | -$8.2B | -4.4% | +1.2% | Source |
| FY2024 | $185B | $5.9B | 3.2% | +5.0% | Source |
| FY2023 | $176.2B | $4.3B | 2.5% | +11.5% | Source |
| FY2022 | $158.1B | -$2B | -1.3% | +15.9% | Source |
| FY2021 | $136.3B | $17.9B | 13.2% | +7.2% | Source |
| FY2020 | $127.1B | -$1.3B | -1.0% | -18.4% | Source |
| FY2019 | $155.9B | $84M | 0.1% | -2.8% | Source |
| FY2018 | $160.3B | $3.7B | 2.3% | +2.3% | Source |
| FY2017 | $156.8B | $7.8B | 4.9% | +3.3% | Source |
| FY2016 | $151.8B | $4.6B | 3.0% | — | Source |
ICICI Bank
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$23B | ~$6.3B | 27.4% | +8.7% | Source |
| FY2025 | ~$21.1B | ~$5.9B | 28.0% | +27.6% | Source |
| FY2024 | ~$16.6B | ~$5.1B | 31.0% | +22.1% | Source |
| FY2023 | ~$13.6B | ~$3.9B | 29.1% | +18.2% | Source |
| FY2022 | ~$11.5B | ~$2.9B | 25.4% | — | Source |
Where the revenue comes from
Ford
- Ford Blue~54%
Combustion and hybrid Ford and Lincoln retail vehicles generated $101.019B of FY2025 revenue.
- Ford Pro~35%
Commercial vehicles, fleet services, telematics, charging, and related customer relationships generated $66.286B of FY2025 revenue.
- Ford Model e~4%
Electric vehicles, EV technologies, and related software generated $6.670B of FY2025 revenue while remaining loss-making.
- Ford Credit and Other~7%
Vehicle financing, leasing, and other corporate activities complete Ford's consolidated revenue base.
ICICI Bank
- Net interest income and lending spread
Core driver
Interest earned on loans and investments less deposit and borrowing costs.
- Retail banking fees
Major fee stream
Credit cards, payments, wealth products, account services, and retail banking charges.
- Wholesale and business banking
Institutional stream
Corporate loans, trade finance, cash management, treasury services, and business banking.
- Treasury and investments
Market-linked stream
Investment portfolio, derivatives, foreign exchange, and balance-sheet treasury activity.
- Subsidiaries and associates
Diversified contribution
Insurance, asset management, securities, and other financial-services interests.
Business model and strategy
Ford
How it makes money
Ford designs, builds, and sells vehicles through roughly 9,000 independent Ford and Lincoln dealers worldwide and reports three operating segments plus Ford Credit. Ford Blue sells gas and hybrid retail vehicles such as the F-150, Bronco, Explorer, and Maverick ($101.0B of FY2025 revenue).
Growth strategy
After its December 2025 EV reset, Ford is concentrating capital on trucks, hybrids, and higher-margin services rather than large first-generation battery-electric programs.
Competitive advantage
Ford's clearest moat is the F-Series truck franchise, the best-selling pickup line in the U.S. every year since 1977, combined with Ford Pro's position in commercial vans and Super Duty trucks. Fleet customers buy vehicles, service, parts, telematics, and financing from one supplier, and Ford's upfitter, dealer, and mobile-service network is hard for EV startups or importers to replicate.
ICICI Bank
How it makes money
ICICI Bank makes money mainly from net interest income: the gap between what it earns on loans and investments and what it pays on deposits and borrowings. Net interest income was Rs 22,979 crore in Q4 FY2026 alone and Rs 24,384 crore in Q1 FY2027, with a 4.32% FY2026 net interest margin. Fee income from cards, payments, wealth products, trade, and transaction banking is the second engine;
Growth strategy
Management frames its strategy as 'risk-calibrated core operating profit' growth. In FY2026 that meant leaning into segments growing faster than retail: total advances rose 15.8%, business banking 24.4%, and rural lending 25.6%, while retail loans grew 9.5% as the bank slowed unsecured credit. Digital platforms such as iMobile and InstaBIZ are used to cut servicing costs and widen cross-sell.
Competitive advantage
ICICI Bank's edge is a combination of low-cost deposits, strong underwriting data, and distribution. Net NPAs were 0.33% at March 2026 and 0.35% at June 2026, with about Rs 131 billion of contingency provisions held on top of specific provisions. That buffer lets the bank grow loans without the provisioning shocks that hit it in 2015-2018.
Questions about Ford vs ICICI Bank
Which company has higher revenue — Ford Motor Company or ICICI Bank Limited?
Ford Motor Company reported $187.3B (FY2025), while ICICI Bank Limited reported ~$23B (FY2026). By last reported revenue, Ford Motor Company is the larger business, with ICICI Bank Limited reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Ford Motor Company vs ICICI Bank Limited?
Ford Motor Company's market capitalisation stands at $48.0B, while ICICI Bank Limited's is $100.0B. ICICI Bank Limited carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Ford Motor Company.
Which is more financially efficient — Ford Motor Company or ICICI Bank Limited?
Ford Motor Company generates $1.11M / employee in revenue per employee, while ICICI Bank Limited generates $185k / employee. Ford Motor Company shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Ford Motor Company and ICICI Bank Limited make money?
Ford Motor Company and ICICI Bank Limited generate revenue in fundamentally different ways. Ford Motor Company: Ford designs, builds, and sells vehicles through roughly 9,000 independent Ford and Lincoln dealers worldwide and reports three operating segments plus Ford Credit. ICICI Bank Limited: ICICI Bank makes money mainly from net interest income: the gap between what it earns on loans and investments and what it pays on deposits and borrowings.
Which company is valued higher relative to revenue — Ford Motor Company or ICICI Bank Limited?
On a price-to-sales (P/S) basis, Ford Motor Company trades at 0.3x P/S and ICICI Bank Limited at 4.4x P/S. ICICI Bank Limited commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Ford Motor Company. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Ford Motor Company bigger than ICICI Bank Limited?
By last reported revenue, Ford Motor Company ($187.3B (FY2025)) is the larger company compared to ICICI Bank Limited (~$23B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Ford vs ICICI Bank overview