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Ford Motor Co F

Morningstar Rating
$12.94 +0.06 (0.47%)
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Company Report

Ford: First-Quarter US Sales Exceed Industry's Pace

Higher inventories and discounting continue to bring consumers back to showrooms this year with March US light-vehicle sales up 4.6% year over year. Wards put the seasonally adjusted annualized selling rate at 15.49 million, up from 14.93 million in March 2023. The chip shortage is mostly behind the industry, so inventories are at their highest levels since early 2021, which is bringing incentives off ultralow levels as a percentage of average transaction price, or ATP. Incentives per Cox Automotive have recently trended at nearly 6% of ATP, about double the rate in early 2023 but still far below prepandemic levels in the low teens. We expect continued inventory growth and higher incentives, which, combined with a possible interest rate cut or cuts this year, may fuel higher demand.

Price vs Fair Value

F is trading at a 32% discount.
Price
$12.88
Fair Value
$85.00
Uncertainty
High
1-Star Price
$75.61
5-Star Price
$17.40
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Ford's turnaround will take lots of time due to many restructuring projects around the world, but so far, the international business seems to be getting better.

Bears

The auto industry is very cyclical, and at times Detroit automakers have been losing significant U.S. market share to foreign automakers for years.

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News

Trading Information

Previous Close Price
$12.88
Day Range
$12.8213.05
52-Week Range
$9.6315.42
Bid/Ask
$13.04 / $13.05
Market Cap
$51.42 Bil
Volume/Avg
62.8 Mil / 53.1 Mil

Key Statistics

Price/Earnings (Normalized)
6.37
Price/Sales
0.30
Dividend Yield (Trailing)
4.66%
Dividend Yield (Forward)
4.66%
Total Yield
5.29%

Company Profile

Ford Motor Co. manufactures automobiles under its Ford and Lincoln brands. In March 2022, the company announced that it will run its combustion engine business, Ford Blue, and its BEV business, Ford Model e, as separate businesses but still all under Ford Motor. The company has nearly 13% market share in the United States, about 11% share in the U.K., and under 2% share in China including unconsolidated affiliates. Sales in the U.S. made up about 66% of 2023 total company revenue. Ford has about 177,000 employees, including about 59,000 UAW employees, and is based in Dearborn, Michigan.
Sector
Consumer Cyclical
Industry
Auto Manufacturers
Stock Style Box
Mid Value
Total Number of Employees
177,000

Competitors

Valuation

Metric
F
TSLA
RNO
Price/Earnings (Normalized)
6.3745.383.41
Price/Book Value
1.217.220.48
Price/Sales
0.305.120.26
Price/Cash Flow
3.8031.932.96
Price/Earnings
F
TSLA
RNO

Financial Strength

Metric
F
TSLA
RNO
Quick Ratio
1.011.130.96
Current Ratio
1.201.731.11
Interest Coverage
2.8258.107.59
Quick Ratio
F
TSLA
RNO

Profitability

Metric
F
TSLA
RNO
Return on Assets (Normalized)
3.08%18.09%3.77%
Return on Equity (Normalized)
18.80%32.04%15.36%
Return on Invested Capital (Normalized)
4.23%26.54%4.78%
Return on Assets
F
TSLA
RNO
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Auto Manufacturers Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
TSLA
Tesla IncDmwgvhgtHlzlmc$452.4 Bil
TM
Toyota Motor Corp ADRDcmtqkrxdWxkg$305.6 Bil
MBGAF
Mercedes-Benz Group AGLdmtvlcbZrrgxp$84.4 Bil
STLA
Stellantis NVTbqczpjlJbvd$74.0 Bil
RACE
Ferrari NVGcsldbcjTydb$73.5 Bil
BMWYY
Bayerische Motoren Werke AG ADRZjzykfdqBdwsc$72.0 Bil
VWAGY
Volkswagen AG ADRWdndsyrVlh$70.5 Bil
VWAPY
Volkswagen AG ADRFhljftszsBhchc$70.5 Bil
HMC
Honda Motor Co Ltd ADRNmgwczycpWsj$55.0 Bil
GM
General Motors CoBmgkvmjHjwl$51.5 Bil

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