Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Ford Motor Co., solvency ratios
Based on: 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), 10-K (reporting date: 2020-12-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Ford Motor Co. debt to equity ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Ford Motor Co. debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Ford Motor Co. debt to capital ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Ford Motor Co. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Ford Motor Co. debt to assets ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Ford Motor Co. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Ford Motor Co. financial leverage ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Ford Motor Co. interest coverage ratio improved from 2022 to 2023 and from 2023 to 2024. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Ford Motor Co. fixed charge coverage ratio improved from 2022 to 2023 and from 2023 to 2024. |
Debt to Equity
Ford Motor Co., debt to equity calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Debt payable within one year | 54,949) | 49,669) | 50,164) | 49,692) | 51,343) | |
| Long-term debt payable after one year | 103,573) | 99,562) | 88,805) | 88,400) | 110,341) | |
| Total debt | 158,522) | 149,231) | 138,969) | 138,092) | 161,684) | |
| Equity attributable to Ford Motor Company | 44,835) | 42,773) | 43,242) | 48,519) | 30,690) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 3.54 | 3.49 | 3.21 | 2.85 | 5.27 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| General Motors Co. | 2.06 | 1.89 | 1.69 | 1.83 | 2.44 | |
| Tesla Inc. | 0.11 | 0.08 | 0.07 | 0.23 | 0.53 | |
| Debt to Equity, Sector | ||||||
| Automobiles & Components | 1.64 | 1.63 | 1.65 | 1.84 | 2.89 | |
| Debt to Equity, Industry | ||||||
| Consumer Discretionary | 1.12 | 1.37 | 1.54 | 1.52 | 2.37 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Debt to equity = Total debt ÷ Equity attributable to Ford Motor Company
= 158,522 ÷ 44,835 = 3.54
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Ford Motor Co. debt to equity ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Debt to Equity (including Operating Lease Liability)
Ford Motor Co., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Debt payable within one year | 54,949) | 49,669) | 50,164) | 49,692) | 51,343) | |
| Long-term debt payable after one year | 103,573) | 99,562) | 88,805) | 88,400) | 110,341) | |
| Total debt | 158,522) | 149,231) | 138,969) | 138,092) | 161,684) | |
| Current operating lease liabilities | 558) | 481) | 404) | 345) | 323) | |
| Non-current operating lease liabilities | 1,782) | 1,395) | 1,101) | 1,048) | 991) | |
| Total debt (including operating lease liability) | 160,862) | 151,107) | 140,474) | 139,485) | 162,998) | |
| Equity attributable to Ford Motor Company | 44,835) | 42,773) | 43,242) | 48,519) | 30,690) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 3.59 | 3.53 | 3.25 | 2.87 | 5.31 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| General Motors Co. | 2.08 | 1.91 | 1.71 | 1.85 | 2.47 | |
| Tesla Inc. | 0.19 | 0.15 | 0.13 | 0.29 | 0.60 | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Automobiles & Components | 1.69 | 1.67 | 1.68 | 1.87 | 2.93 | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Consumer Discretionary | 1.42 | 1.72 | 1.94 | 1.90 | 2.84 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Equity attributable to Ford Motor Company
= 160,862 ÷ 44,835 = 3.59
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Ford Motor Co. debt to equity ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024. |
Debt to Capital
Ford Motor Co., debt to capital calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Debt payable within one year | 54,949) | 49,669) | 50,164) | 49,692) | 51,343) | |
| Long-term debt payable after one year | 103,573) | 99,562) | 88,805) | 88,400) | 110,341) | |
| Total debt | 158,522) | 149,231) | 138,969) | 138,092) | 161,684) | |
| Equity attributable to Ford Motor Company | 44,835) | 42,773) | 43,242) | 48,519) | 30,690) | |
| Total capital | 203,357) | 192,004) | 182,211) | 186,611) | 192,374) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.78 | 0.78 | 0.76 | 0.74 | 0.84 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| General Motors Co. | 0.67 | 0.65 | 0.63 | 0.65 | 0.71 | |
| Tesla Inc. | 0.10 | 0.08 | 0.06 | 0.18 | 0.34 | |
| Debt to Capital, Sector | ||||||
| Automobiles & Components | 0.62 | 0.62 | 0.62 | 0.65 | 0.74 | |
| Debt to Capital, Industry | ||||||
| Consumer Discretionary | 0.53 | 0.58 | 0.61 | 0.60 | 0.70 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 158,522 ÷ 203,357 = 0.78
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Ford Motor Co. debt to capital ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Debt to Capital (including Operating Lease Liability)
Ford Motor Co., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Debt payable within one year | 54,949) | 49,669) | 50,164) | 49,692) | 51,343) | |
| Long-term debt payable after one year | 103,573) | 99,562) | 88,805) | 88,400) | 110,341) | |
| Total debt | 158,522) | 149,231) | 138,969) | 138,092) | 161,684) | |
| Current operating lease liabilities | 558) | 481) | 404) | 345) | 323) | |
| Non-current operating lease liabilities | 1,782) | 1,395) | 1,101) | 1,048) | 991) | |
| Total debt (including operating lease liability) | 160,862) | 151,107) | 140,474) | 139,485) | 162,998) | |
| Equity attributable to Ford Motor Company | 44,835) | 42,773) | 43,242) | 48,519) | 30,690) | |
| Total capital (including operating lease liability) | 205,697) | 193,880) | 183,716) | 188,004) | 193,688) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.78 | 0.78 | 0.76 | 0.74 | 0.84 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| General Motors Co. | 0.67 | 0.66 | 0.63 | 0.65 | 0.71 | |
| Tesla Inc. | 0.16 | 0.13 | 0.11 | 0.23 | 0.37 | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Automobiles & Components | 0.63 | 0.63 | 0.63 | 0.65 | 0.75 | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Consumer Discretionary | 0.59 | 0.63 | 0.66 | 0.65 | 0.74 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 160,862 ÷ 205,697 = 0.78
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Ford Motor Co. debt to capital ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024. |
Debt to Assets
Ford Motor Co., debt to assets calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Debt payable within one year | 54,949) | 49,669) | 50,164) | 49,692) | 51,343) | |
| Long-term debt payable after one year | 103,573) | 99,562) | 88,805) | 88,400) | 110,341) | |
| Total debt | 158,522) | 149,231) | 138,969) | 138,092) | 161,684) | |
| Total assets | 285,196) | 273,310) | 255,884) | 257,035) | 267,261) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.56 | 0.55 | 0.54 | 0.54 | 0.60 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| General Motors Co. | 0.46 | 0.45 | 0.43 | 0.45 | 0.47 | |
| Tesla Inc. | 0.07 | 0.05 | 0.04 | 0.11 | 0.22 | |
| Debt to Assets, Sector | ||||||
| Automobiles & Components | 0.43 | 0.42 | 0.43 | 0.45 | 0.51 | |
| Debt to Assets, Industry | ||||||
| Consumer Discretionary | 0.32 | 0.34 | 0.35 | 0.36 | 0.41 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 158,522 ÷ 285,196 = 0.56
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Ford Motor Co. debt to assets ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Debt to Assets (including Operating Lease Liability)
Ford Motor Co., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Debt payable within one year | 54,949) | 49,669) | 50,164) | 49,692) | 51,343) | |
| Long-term debt payable after one year | 103,573) | 99,562) | 88,805) | 88,400) | 110,341) | |
| Total debt | 158,522) | 149,231) | 138,969) | 138,092) | 161,684) | |
| Current operating lease liabilities | 558) | 481) | 404) | 345) | 323) | |
| Non-current operating lease liabilities | 1,782) | 1,395) | 1,101) | 1,048) | 991) | |
| Total debt (including operating lease liability) | 160,862) | 151,107) | 140,474) | 139,485) | 162,998) | |
| Total assets | 285,196) | 273,310) | 255,884) | 257,035) | 267,261) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.56 | 0.55 | 0.55 | 0.54 | 0.61 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| General Motors Co. | 0.47 | 0.45 | 0.44 | 0.45 | 0.47 | |
| Tesla Inc. | 0.11 | 0.09 | 0.07 | 0.14 | 0.25 | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Automobiles & Components | 0.44 | 0.43 | 0.44 | 0.46 | 0.52 | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Consumer Discretionary | 0.41 | 0.43 | 0.44 | 0.45 | 0.50 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 160,862 ÷ 285,196 = 0.56
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Ford Motor Co. debt to assets ratio (including operating lease liability) deteriorated from 2022 to 2023 and from 2023 to 2024. |
Financial Leverage
Ford Motor Co., financial leverage calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Total assets | 285,196) | 273,310) | 255,884) | 257,035) | 267,261) | |
| Equity attributable to Ford Motor Company | 44,835) | 42,773) | 43,242) | 48,519) | 30,690) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 6.36 | 6.39 | 5.92 | 5.30 | 8.71 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| General Motors Co. | 4.44 | 4.25 | 3.89 | 4.10 | 5.22 | |
| Tesla Inc. | 1.67 | 1.70 | 1.84 | 2.06 | 2.35 | |
| Financial Leverage, Sector | ||||||
| Automobiles & Components | 3.80 | 3.85 | 3.87 | 4.07 | 5.66 | |
| Financial Leverage, Industry | ||||||
| Consumer Discretionary | 3.47 | 4.00 | 4.38 | 4.26 | 5.72 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Financial leverage = Total assets ÷ Equity attributable to Ford Motor Company
= 285,196 ÷ 44,835 = 6.36
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Ford Motor Co. financial leverage ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024. |
Interest Coverage
Ford Motor Co., interest coverage calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) attributable to Ford Motor Company | 5,879) | 4,347) | (1,981) | 17,937) | (1,279) | |
| Add: Net income attributable to noncontrolling interest | 15) | (18) | (171) | (27) | 3) | |
| Add: Income tax expense | 1,339) | (362) | (864) | (130) | 160) | |
| Add: Interest expense on Company debt excluding Ford Credit | 1,115) | 1,302) | 1,259) | 1,803) | 1,649) | |
| Earnings before interest and tax (EBIT) | 8,348) | 5,269) | (1,757) | 19,583) | 533) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 7.49 | 4.05 | -1.40 | 10.86 | 0.32 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| General Motors Co. | 11.07 | 12.42 | 12.75 | 14.39 | 8.37 | |
| Tesla Inc. | 26.69 | 64.93 | 72.83 | 18.10 | 2.54 | |
| Interest Coverage, Sector | ||||||
| Automobiles & Components | 11.71 | 11.28 | 10.15 | 12.79 | 3.33 | |
| Interest Coverage, Industry | ||||||
| Consumer Discretionary | 14.99 | 12.27 | 9.45 | 13.29 | 7.81 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Interest coverage = EBIT ÷ Interest expense
= 8,348 ÷ 1,115 = 7.49
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Ford Motor Co. interest coverage ratio improved from 2022 to 2023 and from 2023 to 2024. |
Fixed Charge Coverage
Ford Motor Co., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income (loss) attributable to Ford Motor Company | 5,879) | 4,347) | (1,981) | 17,937) | (1,279) | |
| Add: Net income attributable to noncontrolling interest | 15) | (18) | (171) | (27) | 3) | |
| Add: Income tax expense | 1,339) | (362) | (864) | (130) | 160) | |
| Add: Interest expense on Company debt excluding Ford Credit | 1,115) | 1,302) | 1,259) | 1,803) | 1,649) | |
| Earnings before interest and tax (EBIT) | 8,348) | 5,269) | (1,757) | 19,583) | 533) | |
| Add: Operating lease expense | 650) | 580) | 463) | 444) | 463) | |
| Earnings before fixed charges and tax | 8,998) | 5,849) | (1,294) | 20,027) | 996) | |
| Interest expense on Company debt excluding Ford Credit | 1,115) | 1,302) | 1,259) | 1,803) | 1,649) | |
| Operating lease expense | 650) | 580) | 463) | 444) | 463) | |
| Fixed charges | 1,765) | 1,882) | 1,722) | 2,247) | 2,112) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 5.10 | 3.11 | -0.75 | 8.91 | 0.47 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| General Motors Co. | — | 8.39 | 4.97 | 9.47 | 5.79 | |
| Tesla Inc. | 5.86 | 8.62 | 14.87 | 7.36 | 1.96 | |
| Fixed Charge Coverage, Sector | ||||||
| Automobiles & Components | 8.87 | 6.28 | 4.96 | 8.76 | 2.60 | |
| Fixed Charge Coverage, Industry | ||||||
| Consumer Discretionary | 5.96 | 4.98 | 3.70 | 5.63 | 3.72 | |
Based on: 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), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 8,998 ÷ 1,765 = 5.10
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Ford Motor Co. fixed charge coverage ratio improved from 2022 to 2023 and from 2023 to 2024. |