Ford Motor Company (F) Valuation Ratios - Annual

Trailing Valuation

Trailing Valuation	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Stock Price	13.1	9.9	12.2	11.6	20.8	8.8	9.3	7.7	12.5	12.1	14.1
Total Shares Outstanding	3,984.5	3,974.3	3,864	4,042	3,996.2	3,978.4	3,964.9	3,977.9	3,972.3	3,973.7	3,968.6
Market Cap	52,236.8	39,345.5	47,102.2	47,008.5	83,001.9	34,970.4	36,873.5	30,431	49,614.1	48,201.2	55,918
Total Enterprise Value (TEV)	229,641.8	214,491.5	205,856.2	191,996.5	221,295.9	198,157.4	211,520.5	204,320	259,679.1	242,809.2	235,817
Dividend Yield	5.7%	7.9%	10.2%	4.3%	0.5%	1.7%	6.5%	9.6%	5.2%	7%	4.3%
Buyback Yield	1.1%	1.1%	0.7%	1%	—	—	0.6%	0.5%	0.3%	0.3%	0.2%
Debt Paydown Yield	-7.7%	-28.9%	-17.3%	-11.2%	27.7%	-8.9%	0.8%	-10.3%	-12.6%	-22.9%	-30.7%
Shareholder Yield	-6.2%	-27%	-15.8%	-9.8%	27.7%	-8.7%	2.1%	-8.5%	-11.9%	-22%	-30.1%
P/S	0.3	0.2	0.3	0.3	0.6	0.3	0.2	0.2	0.3	0.3	0.4
P/Gross Profit	2.1	1.5	1.8	2	3.8	2.4	1.7	1.3	1.9	1.9	2.2
P/E	11.3	6.8	11.3	-23.7	4.7	-27.5	930	8.3	6.5	10.5	7.7
Earnings Yield	8.8%	14.7%	8.9%	-4.2%	21.4%	-3.6%	0.1%	12%	15.5%	9.5%	13.1%
P/OCF	2.6	2.6	3.2	6.9	5.3	1.4	2.1	2	2.7	2.4	3.4
P/FCF	4.4	5.8	7	-3,616	8.7	1.9	3.7	4.2	4.5	3.7	6.2
FCF Yield	22.8%	17.1%	14.2%	-0%	11.5%	53%	27.1%	23.8%	22.3%	26.7%	16.1%
P/B	1.1	0.9	1.1	1.1	1.7	1.1	1.1	0.8	1.4	1.7	2
EV/Sales	1.2	1.2	1.2	1.2	1.6	1.6	1.4	1.3	1.7	1.6	1.6
EV/Gross Profit	9	8.1	8	8.1	10.2	13.8	10	8.5	10.2	9.5	9.4
EV/EBITDA	24.4	19.3	17.2	15	21.1	65	23.3	17.6	19.3	16.7	15.8
EV/EBIT	63.5	41.1	37.7	30.6	48.9	-45	368.5	63.8	53.2	42	33.8
EV/OCF	11.2	13.9	13.8	28	14	8.2	12	13.6	14.4	12.2	14.5
EV/FCF	19.3	31.8	30.8	-14,769	23.1	10.7	21.1	28.2	23.5	18.9	26.1

Dividends

Dividends	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Dividend Yield	5.7%	7.9%	10.2%	4.3%	0.5%	1.7%	6.5%	9.6%	5.2%	7%	4.3%
DPS	0.8	0.8	1.2	0.5	0.1	0.2	0.6	0.7	0.7	0.8	0.6
Payout Ratio	63.5%	53%	114.9%	-101.4%	2.2%	-46.6%	5,083%	79%	33.4%	73.6%	32.3%

Margins

Margins	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Gross Profit Margin	13.4%	14.4%	14.6%	15%	15.9%	11.3%	13.6%	15%	16.2%	16.9%	16.8%
Operating Margin	1.9%	2.8%	3.1%	4%	3.3%	-3.5%	0.4%	2%	3.1%	3.8%	4.7%
EBITDA Margin	5%	6%	6.8%	8.1%	7.7%	2.4%	5.8%	7.2%	8.6%	9.6%	10%
Net Profit Margin	2.5%	3.2%	2.5%	-1.4%	13.1%	-1%	0.1%	2.3%	4.9%	3%	4.9%
Effective Tax Rate	10.8%	18.5%	-9.1%	28.6%	-0.7%	-14.3%	113.1%	15%	4.9%	32.2%	28.1%
Pre-Tax Profit Margin	2.8%	3.9%	2.3%	-1.9%	13%	-0.9%	-0.4%	2.7%	5.2%	4.5%	6.9%
Free Cash Flow Margin	6.3%	3.6%	3.8%	-0%	7%	14.6%	6.4%	4.5%	7%	8.5%	6%
OCF / Sales	10.8%	8.3%	8.5%	4.3%	11.6%	19.1%	11.3%	9.4%	11.5%	13.1%	10.8%
OCF / Net Income	432.5%	261.7%	344.6%	-318.4%	88.1%	-1,902%	20,998.8%	406.5%	233.3%	431.5%	220.1%
FCF / OCF	58.2%	43.7%	44.8%	-0.2%	60.6%	76.3%	56.7%	48.2%	61%	64.8%	55.7%
FCF / Net Income	251.9%	114.3%	154.4%	0.6%	53.4%	-1,452%	11,913.1%	195.9%	142.4%	279.5%	122.5%
FCF / EBITDA	126.4%	60.8%	55.8%	-0.1%	91.2%	607.6%	110.4%	62.3%	82.1%	88.7%	60.4%

Capital Efficiency

Capital Efficiency	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Return on Invested Capital	1.2%	1.8%	2.7%	2.1%	2.1%	-2.3%	-0%	1.3%	2.3%	2%	2.9%
Return on Assets	1.1%	1.5%	2.3%	1.7%	1.7%	-1.9%	-0%	1.1%	1.9%	1.7%	2.3%
Return on Equity	10.2%	13.4%	10.1%	-4.7%	45.1%	-4%	0.2%	10.3%	23.9%	15.9%	27.5%
Return on Total Capital	1.5%	2.1%	3.1%	2.4%	2.3%	-2.4%	-0%	1.2%	1.9%	1.7%	3%
Return on Capital Employed	2%	3%	3.3%	3.9%	2.7%	-2.7%	0.4%	2%	3.1%	4%	4.9%
Return on Tangible Assets	1.6%	2.1%	1.6%	-0.8%	6.8%	-0.5%	0%	1.4%	3.1%	2%	3.4%
Receivables Turnover	2.8	2.9	3	3.2	2.5	2	1.7	1.3	1.1	1	1.2
Days Sales Outstanding	129	126.9	120.6	113.6	146.1	184	215.4	273.3	322.6	367.6	293.4
Payables Turnover	6.3	6.3	5.8	5.6	5.1	5.3	6.4	6.1	5.9	6.1	6.2
Days Payables Outstanding	57.8	57.7	62.5	65.1	70.9	69.4	57.2	60	62	60.1	59.1
Inventory Turnover	10.4	10.4	10.1	10.3	10	10.4	12.2	12.2	13.1	14.7	15.4
Days Inventory Outstanding	35	35.3	36	35.5	36.4	35	29.8	30	27.9	24.9	23.7
Cash Conversion Cycle	106.1	104.4	94.1	84	111.6	149.6	188.1	243.3	288.6	332.4	258
Asset Turnover	0.6	0.7	0.7	0.6	0.5	0.5	0.6	0.6	0.6	0.7	0.7
Fixed Asset Turnover	2.8	2.9	2.9	2.6	2.1	1.9	2.4	2.3	2.1	2.1	2.4
Operating Cycle	164	162.1	156.7	149.1	182.6	219	245.2	303.3	350.5	392.5	317.2
CapEx to OCF	0.4	0.6	0.6	1	0.4	0.2	0.4	0.5	0.4	0.4	0.4
CapEx to Revenue	0	0	0	0	0	0	0	0	0	0	0
CapEx to Depreciation	1.5	1.5	1.3	1.1	1	0.8	0.9	0.9	0.8	0.8	0.9

Financial Health

Financial Health	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Debt	219,568	213,471	198,900	189,133	187,784	213,027	209,253	207,706	252,345	236,369	218,915
Net Debt	177,380	175,123	158,729	145,063	138,191	163,066	174,602	173,755	209,939	194,495	179,790
Current Ratio	1.1	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2
Quick Ratio	0.9	1	1	1	1	1.2	1	1.6	1.7	2.2	2.3
Cash Ratio	0.4	0.4	0.4	0.5	0.5	0.5	0.4	0.4	0.4	0.5	0.5
Debt Ratio	0.7	0.7	0.7	0.7	0.7	0.8	0.8	0.8	1	1	1
Assets to Equity	6.3	6.4	6.4	5.9	5.3	8.7	7.8	7.1	7.2	8.1	7.8
Cash Flow to Debt Ratio	0.1	0.1	0.1	0	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Long-term Debt to Assets	0.3	0.4	0.4	0.3	0.3	0.4	0.4	0.4	0.6	0.6	0.6
Net Current Asset Value	-122,878	-115,887	-109,056	-96,166	-99,520	-119,827	-111,305	-105,959	-106,117	-100,320	-93,696
Debt / Equity	4.6	4.8	4.6	4.4	3.9	6.9	6.3	5.8	7.1	8.1	7.6
Total Debt / Capitalization	1	1	1	1	1	1	1	1	1	1	1
Long Term Debt / Capitalization	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.6	0.6	0.6
Long-Term Debt / Equity	2.2	2.3	2.3	2.1	1.8	3.6	3.1	2.8	4.2	4.7	4.6
Net Debt / EBITDA	18.9	15.8	13.2	11.4	13.2	53.5	19.3	15	15.6	13.4	12
EBIT / Interest Expense	3	4.7	4.2	5	2.5	-2.7	0.6	2.6	4.1	6.1	9
EBITDA / Interest Expense	7.8	9.9	9.2	10.1	5.8	1.8	8.9	9.5	11.3	15.3	19.3
(EBITDA - Capex) / Interest Expense	0.7	2.2	2.9	4.7	2.4	-1.6	1.4	3.1	5.4	7.9	10

Per Share	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Revenue per Share	47.2	46	43.6	39.4	33.8	32	38.9	40.1	39.2	38	37.4
Basic EPS	1.2	1.5	1.1	-0.5	4.5	-0.3	0	0.9	1.9	1.2	1.9
Diluted EPS	1.2	1.5	1.1	-0.5	4.5	-0.3	0	0.9	1.9	1.2	1.8
Book Value per Share	11.8	11.2	10.6	10.8	12	7.7	8.3	9	8.9	7.3	7.2
Tangible Book Value per Share	11.8	11.2	10.6	10.8	12	7.7	8.3	9	8.9	7.3	7.2
Cash per Share	10.5	9.5	9.9	11	12.3	12.6	8.7	8.5	10.6	10.5	9.8
Operating Cash Flow per Share	5.1	3.8	3.7	1.7	3.9	6.1	4.4	3.8	4.5	5	4.1
Free Cash Flow per Share	3	1.7	1.7	-0	2.4	4.7	2.5	1.8	2.8	3.2	2.3
CapEx per Share	2.1	2.2	2	1.7	1.5	1.4	1.9	1.9	1.8	1.7	1.8
Weighted Avg. Shares Outstanding	3,975.8	3,978	3,998	4,014	3,991	3,973	3,972	3,974	3,975	3,973	3,969
Weighted Avg. Shares Outstanding Diluted	4,015	4,021	4,041	4,014	4,034	3,973	4,004	3,998	3,998	3,999	4,002

Common Size

Common Size	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15	Dec '14	Dec '13	Dec '12
SG&A to Revenue	5.6%	5.6%	6.1%	6.9%	8.7%	8%	7.2%	7.1%	7.4%	7.2%	7.2%
Stock-based Comp to Revenue	0.3%	0.3%	0.3%	0.2%	0.2%	0.2%	0.1%	0.1%	0.2%	0.1%	0.1%