Ford Motor Company (F)财务
NYSE · Consumer Cyclical · Auto - Manufacturers · 员工169,000人 · CEO James Duncan Farley Jr.
- 股价
- $12.23 -1.09%
- 市值
- $487亿
- 企业价值
- $1900亿
- 最近财报
- Q3 '26 2026-10-29提交
- 下次财报
- 2027-02-09 EPS预期 $0.38
营收(TTM)$1870亿-1.4% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)1.9%0.0 百分点 对比去年同期营业利润 $35.1亿
净利润(TTM)-$77.9亿-265.6% 对比去年同期税后,含营业外收益
自由现金流(TTM)$51.5亿-56.8% 对比去年同期资本支出 $98.3亿
稀释EPS(TTM)-$1.97-269.7% 对比去年同期最近4个季度之和
净现金-$1290亿-5.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $487亿 EV $1900亿
- 营收
- $1870亿 过去12个月
- 营收增速
- -1% FY2026年一致预期
- 净利润率
- -4.2% 净利润 / 营收,TTM
- P/E
- -6.2× 预期 6.4×(FY2026)
- P/S
- 0.3× 股价 / 营收,TTM
- EV / EBITDA
- -143.1× TTM
- 自由现金流
- $51.5亿 过去12个月
- 净利润
- -$77.9亿 过去12个月
- 营收预期
- $1860亿 FY2026年一致预期
- 盈利
- 2027-02-09 营收预期 $493亿
- 股息
- $0.60 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-28):营收超预期0.9%,EPS 超预期19.5%营收$495亿,预期$491亿(+0.9%);EPS $0.49,预期$0.41(+19.5%)。
- 营收增长放缓:同比-2.0%Q3 '26营收$495亿,此前四个季度的平均值为1.8%。
- 营业利润率1.9%(TTM),较去年同期0.0 百分点营收增长-1.4%,营业利润增长-2.0%。
- 资本支出占营收的5.3%(去年为4.5%)最近4个季度投入$98.3亿(同比+15.2%)。自由现金流$51.5亿。
- 股东回报$27.1亿 = 自由现金流的52.8%回购$3.11亿(去年为$1.5亿),股息$24亿,股权激励$4.25亿(TTM)。
- 稀释股数一年内增加0.7%Q3 '26稀释股数40.8亿,一年前为40.5亿。
- 净债务 $1290亿现金 + 短期投资 $341亿,含租赁债务 $1630亿;一年前净债务 $1220亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $495亿 | $505亿 | -2.0% |
| 毛利率 | 14.9% | 8.9% | +6.0 百分点 |
| 营业利润 | $14.5亿 | $16.4亿 | -11.4% |
| 营业利润率 | 2.9% | 3.2% | -0.3 百分点 |
| 净利润 | $20.5亿 | $24.5亿 | -16.3% |
| 稀释EPS | $0.50 | $0.60 | -16.7% |
| 经营现金流 | $54.3亿 | $74亿 | -26.7% |
| 资本支出 | $22.9亿 | $21.3亿 | +7.5% |
| 自由现金流 | $31.4亿 | $52.8亿 | -40.5% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $1.13亿 | $0 | – |
实际 vs 一致预期
2026-10-28| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $495亿 | $491亿 | +0.9% |
| EPS(一致预期口径) | $0.49 | $0.41 | +19.5% |
来自2026-10-28发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Company excluding Ford Credit | $461亿 | -2.3% | 93.0% | – | – | |
| Ford Credit | $34.4亿 | +2.8% | 7.0% | $137亿 | +4.8% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Ford North America | $239亿 | +19.2% | 67.8% | $957亿 | +16.8% | |
| Ford Europe | $68.9亿 | -0.4% | 19.5% | $281亿 | -1.7% | |
| Ford Asia Pacific Africa | $26.8亿 | +17.9% | 7.6% | $112亿 | – | |
| Ford South America | $8.41亿 | -44.4% | 2.4% | $50.9亿 | -39.5% | |
| Middle East and Africa | $9.61亿 | -9.1% | 2.7% | $39.1亿 | -9.3% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $150亿
- 资本支出
- -$98.3亿
- 股票回购
- -$3.11亿
- 股息
- -$24亿
- 收购
- -$7.29亿
- 债务净发行
- -$8.31亿
- 股权激励费用
- $4.25亿
- 自由现金流
- $51.5亿
- 股东回报 / FCF
- 52.8%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | -6.2× | 7.5× 5年中的3年 | 4.6× – 11.2× |
| EV / EBITDA | -143.1× | 17.4× 5年中的4年 | 7.9× – 34.2× |
| EV / 营收 | 1.0× | 1.1× | 1.0× – 1.5× |
| 股价 / FCF | 9.5× | 6.5× 5年中的4年 | 4.2× – 8.7× |
| 股价 / 净资产 | 1.3× | 1.3× | 0.9× – 1.7× |
| FCF收益率 | 10.6% | 13.2% | -0.0% – 23.9% |
| 投入资本回报率 | 1.0% | 1.9% | 0.8% – 2.4% |
| 净资产收益率 | -21.3% | 6.6% | -22.8% – 37.0% |
分析师
一致目标价 $15.56 (+27.3%)
区间 $14.00 – $17.50 · 评级 Hold
强烈买入0
买入18
持有23
卖出6
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $1860亿 | -0.8% | $1.90 | +192.1% | 6.4× | 8 |
| FY2027 | $1900亿 | +2.5% | $1.91 | +0.7% | 6.4× | 10 |
| FY2028 | $1960亿 | +2.9% | $2.11 | +10.4% | 5.8× | 5 |
| FY2029 | $2040亿 | +4.3% | $2.53 | +19.9% | 4.8× | 1 |
| FY2030 | $2140亿 | +4.6% | $2.85 | +12.7% | 4.3× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Ford Motor Company在近期10-Q / 10-K文件中标记的全部291项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable and Accrued Liabilities, Current | $280亿 | $279亿 | +0.5% | $258亿 | $241亿 | +7.0% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $195亿 | $192亿 | +1.3% | $154亿 | $147亿 | +4.6% |
| Accounts Receivable, Allowance for Credit Loss, Current | $1.11亿 | $1.03亿 | +7.8% | $1.08亿 | $8400万 | +28.6% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$81.2亿 | -$78.7亿 | -3.1% | -$77.1亿 | -$96.4亿 | +20.0% |
| Additional Paid in Capital, Common Stock | $241亿 | $238亿 | +1.0% | $239亿 | $235亿 | +1.8% |
| Advertising Expense | – | – | – | $27亿 | $28亿 | -3.6% |
| Amortization | – | – | – | -$17亿2024-12-31 | -$11.7亿 | -45.7% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 7900万2026-06-30 | 4500万 | +75.6% | 5600万 | – | – |
| Asset Impairment Charges | – | – | – | $94.4亿 | $0 | – |
| Assets | $2920亿 | $3010亿 | -2.8% | $2890亿 | $2850亿 | +1.4% |
| Assets, Current | $1210亿 | $1310亿 | -7.2% | $1230亿 | $1240亿 | -0.8% |
| Cash and Cash Equivalents, at Carrying Value | $223亿 | $268亿 | -16.8% | $234亿 | $229亿 | +1.8% |
| Cash and Cash Equivalents, Fair Value Disclosure | $223亿 | – | – | $234亿 | $229亿 | +1.8% |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | -$6700万 | $6100万 | -209.8% | $4800万 | $2.81亿 | -82.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $226亿 | $271亿 | -16.7% | $238亿 | $232亿 | +2.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations | $0 | $0 | – | $3600万 | $4700万 | -23.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $226亿 | $271亿 | -16.7% | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $36.7亿 | $38.3亿 | -4.4% | $5.6亿 | -$19.2亿 | +129.2% |
| Common Stock, Dividends, Per Share, Declared | $0.15 | $0.15 | 0.0% | $0.75 | $0.78 | -3.8% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $0 | $100万 | -100.0% | $1900万 | $1400万 | +35.7% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $17.1亿 | $28.2亿 | -39.4% | -$62.5亿 | $52.8亿 | -218.4% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $17.1亿 | $28.2亿 | -39.4% | -$62.3亿 | $53亿 | -217.7% |
| Contract with Customer, Liability, Current | $40.6亿 | $48.4亿 | -16.1% | $44.9亿 | $33.3亿 | +34.8% |
| Contract with Customer, Liability, Noncurrent | $57.8亿 | $52亿 | +11.2% | $53.6亿 | $49.1亿 | +9.2% |
| Cost of Goods and Services Sold | $421亿 | $434亿 | -2.9% | $1740亿 | $1580亿 | +10.1% |
| Cost of Property Repairs and Maintenance | – | – | – | $21.4亿 | $19.2亿 | +11.4% |
| Costs and Expenses | $481亿 | $490亿 | -1.8% | $1960亿 | $1800亿 | +9.3% |
| Current Federal Tax Expense (Benefit) | – | – | – | $7100万 | $7800万 | -9.0% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $7.01亿 | $7.91亿 | -11.4% |
| Current Income Tax Expense (Benefit) | – | – | – | $8.71亿 | $9.76亿 | -10.8% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $9900万 | $1.07亿 | -7.5% |
| Debt Securities, Available-for-sale, Allowance for Credit Loss, Period Increase (Decrease) | $0 | – | – | $0 | $0 | – |
| Deferred Compensation Liability, Classified, Noncurrent | $8.34亿 | $7.53亿 | +10.8% | $7.92亿 | $8.06亿 | -1.7% |
| Deferred Compensation Liability, Current | $29.3亿 | $29.9亿 | -1.9% | $35.1亿 | $24.6亿 | +42.7% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$14.1亿 | $2500万 | -5,720.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$26.3亿 | $3.03亿 | -968.0% |
| Deferred Income Tax Assets, Net | $231亿 | $182亿 | +27.1% | $220亿 | $164亿 | +34.1% |
| Deferred Income Tax Expense (Benefit) | $5600万 | -$7.33亿 | +107.6% | -$45.4亿 | $3.63亿 | -1,350.4% |
| Deferred Income Tax Liabilities, Net | $17.4亿 | – | – | $13.5亿 | $10.7亿 | +26.1% |
| Deferred Income Taxes and Tax Credits | – | – | – | -$45.4亿 | $3.5亿 | -1,396.0% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$5.04亿 | $3500万 | -1,540.0% |
| Deferred Tax Assets, Gross | $323亿2025-12-31 | $305亿 | +5.9% | $323亿 | $305亿 | +5.9% |
| Deferred Tax Assets, in Process Research and Development | $51.8亿2025-12-31 | $48.7亿 | +6.4% | $51.8亿 | $48.7亿 | +6.4% |
| Deferred Tax Assets, Net | $206亿2025-12-31 | $153亿 | +34.6% | $206亿 | $153亿 | +34.6% |
| Deferred Tax Assets, Net of Valuation Allowance | $317亿2025-12-31 | $267亿 | +18.9% | $317亿 | $267亿 | +18.9% |
| Deferred Tax Assets, Operating Loss Carryforwards | $72亿2025-12-31 | $74.6亿 | -3.5% | $72亿 | $74.6亿 | -3.5% |
| Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | $58亿2025-12-31 | – | – | $58亿 | – | – |
| Deferred Tax Assets, Other | $30.3亿2025-12-31 | $20亿 | +51.9% | $30.3亿 | $20亿 | +51.9% |
| Deferred Tax Assets, Tax Credit Carryforwards | $75亿2025-12-31 | $79.9亿 | -6.2% | $75亿 | $79.9亿 | -6.2% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Benefits | $19.1亿2025-12-31 | $20.1亿 | -5.2% | $19.1亿 | $20.1亿 | -5.2% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Warranty Reserves | $40.9亿2025-12-31 | $35亿 | +16.9% | $40.9亿 | $35亿 | +16.9% |
| Deferred Tax Assets, Valuation Allowance | $6.28亿2025-12-31 | $38.6亿 | -83.7% | $6.28亿 | $38.6亿 | -83.7% |
| Deferred Tax Liabilities, Gross | $111亿2025-12-31 | $114亿 | -2.3% | $111亿 | $114亿 | -2.3% |
| Deferred Tax Liabilities, Leasing Arrangements | $27.2亿2025-12-31 | $35.2亿 | -22.8% | $27.2亿 | $35.2亿 | -22.8% |
| Deferred Tax Liabilities, Other | $20.9亿2025-12-31 | $19.8亿 | +5.6% | $20.9亿 | $19.8亿 | +5.6% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $18.6亿2025-12-31 | $35.9亿 | -48.3% | $18.6亿 | $35.9亿 | -48.3% |
| Depreciation | $19.9亿 | $19.8亿 | +0.7% | $78.3亿 | $75.7亿 | +3.5% |
| Depreciation, Depletion and Amortization | $19.9亿 | $19.8亿 | +0.7% | $160亿 | $75.7亿 | +111.1% |
| Derivative Asset | $19.3亿2025-12-31 | $14.3亿 | +34.9% | $19.3亿 | $14.3亿 | +34.9% |
| Derivative Asset, Current | $6.34亿2025-12-31 | $8.69亿 | -27.0% | $6.34亿 | $8.69亿 | -27.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-02