"Our global hybrid sales were up 20% last year and we expect them to be up 40% this year." - Jim Farley
— Jim Farley
03Detailed Report
F
Ford Motor Company
Period
Q4 2023
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 18, 2026
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Executive Summary
In Q4 2023, Ford Motor Company reported revenues of $45.96 billion, a 4.46% increase year-over-year. However, the company faced a significant operational setback, leading to a net loss of $526 million, underlining the pressures of post-UAW strike adjustments and market dynamics. Despite this, the outlook for Ford's Pro segment, which showed strong growth and robust margins, indicates potential for recovery and strategic progression in the electric vehicle (EV) sector. Management's commentary emphasized the company's evolving focus towards a blend of traditional and electric vehicles while enhancing operational efficiencies through cost-cutting initiatives, particularly in design and manufacturing. Investors should monitor Ford's ability to return to profitability while successfully transitioning to EV production within a competitive landscape.
Ford’s revenue growth in Q4 was modest, mainly fueled by a strong performance in its Pro segment. However, despite experiencing a rise in revenue, the sharp decline in gross and operating profit reflects rising costs associated with new product launches, including significant investments in EV technology. Management pointed out that the transition to cost-effective EV platforms remains a high priority to balance with customer demand shifts and ongoing quality improvements.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
45.96B
4.46%
4.93%
Gross Profit
2.53B
-59.08%
-59.54%
Operating Income
-245.00M
-106.55%
-121.70%
Net Income
-526.00M
-140.81%
-143.87%
EPS
-0.13
-140.39%
-143.33%
Key Financial Ratios
Gross Profit Margin
Weak
5.50%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Weak
-0.01%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
-0.01%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
0.00%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.01%
Return on equity suggests inefficient capital allocation
Current Ratio
Adequate
1.20
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
Negative
-23.16x
Negative earnings make P/E ratio not meaningful
Price to Book
Fair Value
1.14x
Price-to-book ratio reasonable for profitable companies
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