Jim Farley: "We’re progressively shedding behaviors that have weighed down performance and valuation of legacy auto companies for most of the industry's history."
— Jim Farley
03Detailed Report
F
Ford Motor Company
Period
Q1 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 18, 2026
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Executive Summary
In Q1 2024, Ford Motor Company reported a revenue of $42.8 billion, reflecting a 3% year-over-year growth. However, challenges in profitability were evident with a net income of $1.332 billion, down 24% from the previous year, alongside rising costs primarily driven by investments in the Ford Pro business segment meant to bolster growth. Management underscored their commitment to creating a more resilient business model through the Ford+ strategy while addressing the need for improved profitability, particularly within their electric vehicle segment. Key highlights included growth in Ford Pro revenue by 36% and a 21% increase in wholesales, indicating strong performance in commercial vehicles despite pressure on the Model e segment from pricing strategies in a competitive EV market.
Key Performance Indicators
Revenue
Increasing
42.78B
QoQ: -6.93% | YoY: 3.14%
Gross Profit
Decreasing
3.72B
8.71% margin
QoQ: 47.19% | YoY: -19.38%
Operating Income
Decreasing
1.26B
QoQ: -614.29% | YoY: -40.37%
Net Income
Decreasing
1.33B
QoQ: -353.23% | YoY: -24.19%
EPS
Decreasing
0.33
QoQ: -353.85% | YoY: -25.00%
Revenue Trend
Margin Analysis
Financial Highlights
- Revenue: $42.8 billion (YoY up 3.14%, QoQ down 6.93%)
- Net Income: $1.332 billion (YoY down 24.19%, QoQ down 353.23%)
- EPS: $0.33 (YoY down 25.00%, QoQ down 353.85%)
- EBIT Margin: 6.5%, reflecting a growing contribution from Ford Pro.
- Cash and Cash Equivalents: $19.72 billion, ensuring liquidity for future investments.
- Free Cash Flow: $(709) million, indicating a need to optimize working capital and reduce inventory costs.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
42.78B
3.14%
-6.93%
Gross Profit
3.72B
-19.38%
47.19%
Operating Income
1.26B
-40.37%
-614.29%
Net Income
1.33B
-24.19%
-353.23%
EPS
0.33
-25.00%
-353.85%
Key Financial Ratios
Gross Profit Margin
Weak
8.71%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Weak
2.95%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Fair
3.11%
Net profit margin is moderate, room for improvement in cost management
Return on Assets
Weak
0.49%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
3.11%
Return on equity suggests inefficient capital allocation
Current Ratio
Adequate
1.17
Current ratio meets minimum requirements but limited cushion
Debt to Equity
High Risk
3.53
Debt-to-equity indicates high leverage and elevated financial risk
P/E Ratio
Value
9.93x
P/E ratio suggests potential undervaluation or stable earnings
Price to Book
Fair Value
1.23x
Price-to-book ratio reasonable for profitable companies
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