FFORD MOTOR CO

Motor Vehicles & Passenger Car Bodies

Revenue: $187.3B; 1.2% YoY
Operating margin: -4.9%; 274% YoY
EBITDA: $6.8B; 47% YoY
Market cap: $45.7B
Employees: 169,000; $1M revenue each
Net debt / EBITDA: -3.2×; −$22.0B net debt
AI in 10-K: 0.6; mentions per 10K words

Takeover score 2 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
362% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
14% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
0% of assets
Over 40% of assets
Shareholder dissentNo
96% lowest support
Any vote under 80% support

Buyer economics 2 of 4

Low revenue per employeeNo
$1M · 89th pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.6 per 10K words · 23rd pct
Bottom quartile of AI mentions in 10-Ks
Net cashYes
Net cash · 3.2× EBITDA
More cash than debt, positive EBITDA
Buyout-sizedNo
$45.7B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
$2M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$136.3B	$158.1B	$176.2B	$185.0B	$187.3B	1.2%
Operating income	$4.5B	$6.3B	$5.5B	$5.2B	−$9.2B	276%
Net income	$17.9B	−$2.0B	$4.3B	$5.9B	—
Operating cash flow	$15.8B	$6.9B	$14.9B	$15.4B	$21.3B	38%
Capex	$6.2B	$6.9B	$8.2B	$8.7B	$8.8B	1.5%
Stock-based comp	$305M	$336M	$460M	$511M	$510M	0.2%
Buybacks	$0	$484M	$335M	$426M	$0	100%
Dividends	$403M	$2.0B	$5.0B	$3.1B	$3.0B	4.1%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $2M · 3
Open-market sells, 12 mo: $0 · 0
Net: $2M

Pay vs performance

No pay-versus-performance disclosure yet.