Analysis of Debt
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- Statement of Comprehensive Income
- Analysis of Liquidity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Total Debt (Carrying Amount)
Ford Motor Co., balance sheet: debt
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Debt payable within one year | ||||||
| Long-term debt payable after one year | ||||||
| Total debt (carrying amount) |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The carrying amount of total debt exhibited a consistent upward trend over the five-year period. An examination of the components reveals that both short-term and long-term debt contributed to this increase.
- Total Debt Trend
- Total debt increased from US$138,092 million in 2021 to US$163,336 million in 2025, representing a cumulative increase of approximately 18.3%. The rate of increase appeared to accelerate in later years, with larger absolute increases observed between 2022-2023 and 2023-2024 compared to earlier periods.
- Short-Term Debt Analysis
- Debt payable within one year remained relatively stable between 2021 and 2023, fluctuating around US$49-50 billion. However, a noticeable increase began in 2024, reaching US$54,949 million, and continued into 2025, reaching US$57,302 million. This suggests a potential shift in the company’s financing strategy or working capital needs in the latter part of the period.
- Long-Term Debt Analysis
- Long-term debt payable after one year demonstrated a steady increase throughout the period. Starting at US$88,400 million in 2021, it rose to US$106,034 million in 2025. The increases were generally consistent year-over-year, indicating a sustained reliance on long-term financing. The increase from 2022 to 2023 was particularly significant, growing by US$10,757 million.
The combined effect of increasing short-term and long-term debt resulted in the overall upward trend in total debt. The acceleration in total debt growth in the final two years of the period warrants further investigation to understand the underlying drivers and potential implications for the company’s financial health.
Total Debt (Fair Value)
| Dec 31, 2025 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Company debt excluding Ford Credit | |
| Ford Credit debt | |
| Total debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2025-12-31).
Weighted-average Interest Rate on Debt
Weighted-average contractual interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2025-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =