Financials Ford Motor Euronext Paris

Equities

FORDP

US3453708600

Auto & Truck Manufacturers

Real-time Estimate Tradegate Other stock markets 05:20:12 24/05/2024 pm IST			5-day change	1st Jan Change
11.19 ^EUR	0.00%		0.00%	0.00%

23/05	The market is good to go until Nvidia’s next quarterly results
23/05	Bernstein Initiates Ford Motor With Outperform Rating, $16 Price Target	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	36,874	34,970	83,002	46,758	48,796	48,347	-	-
Enterprise Value (EV) ¹	29,381	27,754	66,920	34,504	28,569	38,271	35,228	35,441
P/E ratio	930 x	-27.5 x	4.67 x	-23.7 x	11.3 x	6.48 x	6.52 x	6.28 x
Yield	6.45%	1.71%	0.48%	4.3%	4.92%	4.96%	5.08%	5.33%
Capitalization / Revenue	0.26 x	0.3 x	0.66 x	0.31 x	0.29 x	0.28 x	0.27 x	0.27 x
EV / Revenue	0.2 x	0.24 x	0.53 x	0.23 x	0.17 x	0.22 x	0.2 x	0.19 x
EV / EBITDA	2.68 x	3.85 x	5.13 x	2.29 x	1.81 x	2.47 x	2.33 x	2.28 x
EV / FCF	10.5 x	1.5 x	7 x	-	4.2 x	5.74 x	5.98 x	5.67 x
FCF Yield	9.48%	66.8%	14.3%	-	23.8%	17.4%	16.7%	17.6%
Price to Book	1.03 x	1.14 x	1.73 x	1.08 x	1.14 x	1.03 x	0.93 x	0.85 x
Nbr of stocks (in thousands)	39,64,897	39,78,427	39,96,242	40,20,494	40,02,954	39,92,337	-	-
Reference price ²	9.300	8.790	20.77	11.63	12.19	12.11	12.11	12.11
Announcement Date	04/02/20	04/02/21	03/02/22	02/02/23	06/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,43,599	1,15,885	1,26,150	1,48,980	1,65,901	1,73,657	1,75,964	1,82,104
EBITDA ¹	10,949	7,210	13,049	15,053	15,752	15,515	15,132	15,533
EBIT ¹	4,926	1,633	7,397	9,692	10,416	11,037	10,650	10,561
Operating Margin	3.43%	1.41%	5.86%	6.51%	6.28%	6.36%	6.05%	5.8%
Earnings before Tax (EBT) ¹	-640	-1,116	17,780	-3,016	3,967	9,251	9,241	9,667
Net income ¹	47	-1,279	17,937	-1,981	4,347	7,523	7,506	7,743
Net margin	0.03%	-1.1%	14.22%	-1.33%	2.62%	4.33%	4.27%	4.25%
EPS ²	0.0100	-0.3200	4.450	-0.4900	1.080	1.870	1.856	1.928
Free Cash Flow ¹	2,785	18,527	9,560	-	6,801	6,670	5,887	6,254
FCF margin	1.94%	15.99%	7.58%	-	4.1%	3.84%	3.35%	3.43%
FCF Conversion (EBITDA)	25.44%	256.96%	73.26%	-	43.18%	42.99%	38.91%	40.26%
FCF Conversion (Net income)	5,925.53%	-	53.3%	-	156.45%	88.66%	78.44%	80.77%
Dividend per Share ²	0.6000	0.1500	0.1000	0.5000	0.6000	0.6002	0.6146	0.6452
Announcement Date	04/02/20	04/02/21	03/02/22	02/02/23	06/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	35,257	32,111	37,909	37,194	41,766	39,085	42,427	41,176	43,213	39,890	44,097	41,929	43,952	42,732	46,383
EBITDA ¹	3,046	3,223	4,681	3,002	4,147	4,706	5,099	4,101	2,433	4,022	4,578	3,590	3,327	4,075	4,575
EBIT ¹	1,641	1,891	3,322	1,698	2,781	3,379	3,786	2,198	1,053	2,763	3,538	2,602	2,251	2,320	2,690
Operating Margin	4.65%	5.89%	8.76%	4.57%	6.66%	8.65%	8.92%	5.34%	2.44%	6.93%	8.02%	6.21%	5.12%	5.43%	5.8%
Earnings before Tax (EBT) ¹	11,218	-3,848	791	-1,125	1,166	2,159	2,288	1,387	-1,867	1,612	3,322	2,284	2,021	2,434	2,874
Net income ¹	12,282	-3,110	667	-827	1,289	1,757	1,917	1,199	-526	1,332	2,748	1,729	1,612	2,084	2,559
Net margin	34.84%	-9.69%	1.76%	-2.22%	3.09%	4.5%	4.52%	2.91%	-1.22%	3.34%	6.23%	4.12%	3.67%	4.88%	5.52%
EPS ²	3.030	-0.7800	0.1600	-0.2100	0.3200	0.4400	0.4700	0.3000	-0.1300	0.3300	0.6740	0.4116	0.4226	0.5120	0.6295
Dividend per Share ²	0.1000	0.1000	0.1000	0.1500	0.1500	0.1500	0.1500	-	0.1500	0.1500	0.1500	0.1500	0.1500	0.1500	0.1500
Announcement Date	03/02/22	27/04/22	27/07/22	26/10/22	02/02/23	02/05/23	27/07/23	26/10/23	06/02/24	24/04/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	7,493	7,216	16,082	12,254	20,227	10,076	13,119	12,906
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	2,785	18,527	9,560	-	6,801	6,670	5,887	6,254
ROE (net income / shareholders' equity)	13.8%	-4%	16.2%	16.6%	18.9%	18.1%	15.7%	15.1%
ROA (Net income/ Total Assets)	1.85%	-0.49%	2.45%	2.97%	3.07%	4.12%	3.48%	3.61%
Assets ¹	2,544	2,63,169	7,31,287	-66,700	1,41,426	1,82,743	2,15,547	2,14,579
Book Value Per Share ²	9.050	7.720	12.00	10.80	10.70	11.70	13.00	14.20
Cash Flow per Share ²	4.410	6.110	3.910	-	3.690	3.090	3.300	2.990
Capex ¹	7,632	5,742	6,227	-	8,236	8,308	8,577	8,858
Capex / Sales	5.31%	4.95%	4.94%	-	4.96%	4.78%	4.87%	4.86%
Announcement Date	04/02/20	04/02/21	03/02/22	02/02/23	06/02/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Ford Motor

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

12.11 USD

Average target price

14.21 USD

Spread / Average Target

+17.33%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Auto & Truck Manufacturers

	1st Jan change	Capi.
TOYOTA MOTOR CORPORATION	+30.98%	292B
MERCEDES-BENZ GROUP AG	+5.40%	72.49B
BMW AG	-8.08%	63.21B
HONDA MOTOR CO., LTD.	+18.28%	53.15B
GENERAL MOTORS COMPANY	+21.74%	49.87B
HYUNDAI MOTOR COMPANY	+33.42%	43.13B
TATA MOTORS LIMITED	+23.05%	42.36B
MAHINDRA & MAHINDRA LIMITED	+49.17%	34.89B
GREAT WALL MOTOR COMPANY LIMITED	+35.90%	27.11B

Other Auto & Truck Manufacturers