FORD MOTOR COF
FORD MOTOR CO Financial Overview 2021–2025
Ford absorbed $17.356 billion in pre-tax special item charges in FY2025, driving an $8.182 billion net loss as the company aggressively gutted its electric vehicle division. The legacy automaker is executing a painful capital reallocation, sacrificing near-term profitability to halt massive EV cash burn while relying entirely on its commercial fleet business to finance operations.
Underlying operational profitability deteriorated over the long term, with adjusted EBIT falling from $10.0 billion in FY2021 to $6.780 billion in FY2025. The financial divergence between internal segments is severe. The commercial Ford Pro division generated $6.843 billion in EBIT during FY2025, absorbing the $4.806 billion EBIT loss from the Ford Model e segment. The traditional Ford Blue internal combustion business also weakened, with EBIT dropping to $3.024 billion from $5.269 billion the prior year amid lower volumes and tariff pressures. Consequently, overall adjusted EBIT margin compressed to 3.6% in FY2025, down from 5.5% in FY2024.
At the close of FY2025, the stock traded at $13.12 per share. Burdened by the massive impairment charges, the company reported a $-2.06 EPS for the year, reflecting the heavy discount investors are placing on the execution risk of Ford's scaled-back electrification strategy.
Recent Developments (Q3 and Q4 2025)
Ford's second half featured a stark operational contrast. In Q3 2025, total revenues increased 9% year-over-year to $50.5 billion and net income reached $2.45 billion. This momentum reversed in Q4 2025 when management canceled three planned EV models and halted current F-150 Lightning production. The automaker simultaneously restructured its BlueOval SK joint venture by acquiring two Kentucky battery plants and absorbed a $0.6 billion pension remeasurement loss. Offsetting some of these pressures, the Ford Credit segment expanded, with full-year EBT reaching $2.557 billion.
Bulls note that expanding revenues and credit growth demonstrate sufficient operational strength to finance the ongoing corporate transition. Bears argue that abandoning core EV platforms reveals severe strategic misallocations, leaving the stock at $13.85 with a negative P/E ratio as of February 10, 2026, rather than today.
What to watch: integration of the newly acquired Kentucky battery plants; additional restructuring expenses extending into the next fiscal year.
Rev
$187.27B
FY2025
NI
$-8.18B
FY2025
EPS$F
$-2.06
FY2025
OCF
$21.28B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
FORD MOTOR CO 8-K Report, Financial Results (Feb 10, 2026)
Ford Motor Company (F) has filed an 8-K report on February 10, 2026, to announce its fourth quarter and full year 2025 financial results. The company will be hosting a conference call and webcast on the same day at 5:00 p.m. Eastern Time, where President and CEO Jim Farley, CFO Sherry House, and other senior management will discuss the financial performance and provide commentary. Investors are encouraged to pre-register for the webcast to ensure timely access and can find presentation materials on the shareholder website. While the specific financial figures are not detailed in the 8-K itself, the filing serves as an official notification that the earnings release and accompanying details will be made public. The information presented during the conference call and in the furnished news release (Exhibit 99) will be crucial for investors to understand Ford's performance in the latter part of 2025 and for the full fiscal year, including any forward-looking statements or guidance.
FORD MOTOR CO 8-K Report, Regulation FD Disclosure (Jan 29, 2026)
Ford Motor Company has announced a significant mark-to-market remeasurement loss related to its pension and other postretirement employee benefits (OPEB) plans for the fourth quarter of 2025. The company anticipates recording a pre-tax loss of approximately $0.6 billion, with $0.3 billion attributed to U.S. pension plans and another $0.3 billion to international pension plans. The primary drivers for these losses are actuarial discrepancies compared to assumptions for U.S. plans and updated measurement assumptions, such as increased life expectancy, for international plans. This remeasurement is classified as a special item and is not expected to impact Ford's ongoing operational results or key performance metrics like adjusted EBIT or adjusted earnings per share.
FORD MOTOR CO 8-K Report, Corporate Update (Jan 6, 2026)
Ford Motor Company (F) has filed a current report (8-K) on January 5, 2026, announcing its U.S. sales performance for the fourth quarter of 2025. The core of this filing is the incorporation of a news release dated January 6, 2026, which details these sales figures and provides insights into the company's recent market activity. Investors should refer to this accompanying news release for specific sales numbers, trends, and any management commentary regarding the factors influencing these results. While the 8-K itself is brief and primarily serves as a notification and filing mechanism for the news release, the information contained within that release is critical for understanding Ford's immediate sales trajectory. This includes potential impacts on revenue, market share, and overall business momentum as the company heads into the new fiscal year. Investors are advised to scrutinize the sales data and any forward-looking statements made in the exhibit.
FORD MOTOR CO 8-K Report, Material Impairment (Dec 15, 2025)
Ford Motor Company has filed an 8-K report detailing significant financial charges and strategic shifts primarily related to its electric vehicle (EV) business. The company is recognizing substantial pre-tax charges estimated at approximately $19.5 billion, with the majority impacting the fourth quarter of 2025. These charges stem from two main areas: a restructuring of its joint venture for EV battery production (BlueOval SK) and a broader rationalization of its EV manufacturing capacity and product roadmap due to lower-than-anticipated EV adoption rates and evolving market dynamics. These strategic adjustments include Ford taking direct ownership of the Kentucky EV battery plants previously held by BlueOval SK, while exiting the joint venture. Simultaneously, Ford is canceling three previously planned EV models and ending production of the current generation of the F-150 Lightning. These actions are expected to result in significant impairment charges for long-lived assets within the Ford Model e segment and related write-downs. While these charges are substantial, the company emphasizes that they are non-cash items, except for a projected $500 million in cash expenditures related to the BlueOval SK disposition in 2026.
FORD MOTOR CO 8-K Report, Executive Changes (Dec 12, 2025)
Ford Motor Company (F) has filed an 8-K detailing significant amendments to its corporate governance and employee benefit plans. Key changes include amendments to the Company's By-Laws, effective immediately, which modernize provisions related to stockholder and board meetings, advance notice requirements for nominations, and committee structures. Notably, a director retirement age provision has been removed. Furthermore, the Benefit Equalization Plan (BEP) and Select Retirement Plan (SRP) have been amended and restated, effective January 1, 2026. A critical change for some employees is that the SRP will be closed to new retirees effective January 2, 2026. These updates reflect Ford's efforts to enhance operational flexibility and governance practices, aligning with current regulatory requirements and legal precedents. Investors should note the changes to meeting procedures and the specific closure of the SRP to new entrants, which may have implications for long-term employee compensation and retirement strategies. The full details of the amended By-Laws and benefit plans are available as exhibits to this filing.
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