WS Investor
11 Feb 2026, 21:11
Ford Motor Company reported fourth-quarter and full-year 2025 results marked by revenue growth but significant GAAP losses tied to special items.
Fourth-quarter revenue was $45.9 billion, contributing to full-year revenue of $187.3 billion, the company’s fifth consecutive year of annual growth. However, Ford posted a net loss of $11.1 billion in Q4 and $8.2 billion for the full year, reflecting the impact of special items. On an adjusted basis, fourth-quarter EBIT was $1.0 billion and full-year adjusted EBIT totaled $6.8 billion.
For 2025, operating cash flow reached $21.3 billion, while adjusted free cash flow was $3.5 billion.
Looking ahead to 2026, Ford expects adjusted EBIT of $8.0 billion to $10.0 billion and adjusted free cash flow of $5.0 billion to $6.0 billion. Capital expenditures are projected between $9.5 billion and $10.5 billion.
Management highlighted ongoing efforts to improve quality, reduce material and warranty costs, enhance EV profitability, and strengthen capital discipline as key drivers for margin expansion toward its 8% adjusted EBIT margin target by 2029.
Source: Company press release (Feb. 10, 2026).
Fourth-quarter revenue was $45.9 billion, contributing to full-year revenue of $187.3 billion, the company’s fifth consecutive year of annual growth. However, Ford posted a net loss of $11.1 billion in Q4 and $8.2 billion for the full year, reflecting the impact of special items. On an adjusted basis, fourth-quarter EBIT was $1.0 billion and full-year adjusted EBIT totaled $6.8 billion.
For 2025, operating cash flow reached $21.3 billion, while adjusted free cash flow was $3.5 billion.
Looking ahead to 2026, Ford expects adjusted EBIT of $8.0 billion to $10.0 billion and adjusted free cash flow of $5.0 billion to $6.0 billion. Capital expenditures are projected between $9.5 billion and $10.5 billion.
Management highlighted ongoing efforts to improve quality, reduce material and warranty costs, enhance EV profitability, and strengthen capital discipline as key drivers for margin expansion toward its 8% adjusted EBIT margin target by 2029.
Source: Company press release (Feb. 10, 2026).
