Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Ford Motor Co., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio presents a generally upward trend from early 2020 through 2023, beginning around 3.13 and steadily increasing to a peak of approximately 4.18 by the end of 2023. This indicates improved efficiency in utilizing fixed assets to generate revenue over this period. Following the peak, the ratio stabilizes slightly above 4.00, with minor fluctuations observed through 2024 and into 2025, where it trends gently downward, ending close to 3.95. This suggests that after significant gains, the efficiency in asset utilization experiences slight moderation but remains relatively strong.
- Total Asset Turnover
- The total asset turnover ratio shows a consistent improvement from 2020 to early 2024. Initially in the range of approximately 0.43 to 0.51 during 2020, it rises steadily, reaching about 0.61 by late 2023 and maintaining near that level through much of 2024. This stability close to 0.60 indicates enhanced ability to generate revenue from total assets. There is a minor decline noted toward the end of 2024 and into the early quarters of 2025, where the ratio dips slightly below 0.60, but the overall level remains robust compared to the earlier years.
- Equity Turnover
- The equity turnover ratio exhibits a more volatile pattern with some notable shifts across the time span. Starting at elevated levels above 3.7 in early 2020, it decreases to a low around 2.6 by early 2021, signaling a temporary decline in the efficiency of equity utilization for revenue generation. Subsequently, the ratio recovers steadily through 2021 and 2022, reaching approximately 3.89 by mid-2024. After this peak, it demonstrates slight fluctuations but maintains a relatively high level, closing near 3.72 by late 2025. This indicates that despite the mid-period pullback, the company improved equity usage efficiency substantially over time.
Net Fixed Asset Turnover
Ford Motor Co., net fixed asset turnover calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Company revenues excluding Ford Credit | 47,185) | 46,943) | 37,422) | 44,936) | 43,069) | 44,811) | 39,890) | 43,213) | 41,176) | 42,427) | 39,085) | 41,745) | 37,205) | 37,934) | 32,195) | 35,305) | 33,249) | 24,149) | 33,565) | 33,229) | 34,727) | 16,632) | 31,353) | |||||||
| Net property | 44,735) | 43,877) | 42,471) | 41,928) | 41,169) | 40,709) | 40,515) | 40,821) | 39,370) | 38,503) | 37,970) | 37,265) | 35,529) | 36,162) | 36,625) | 37,139) | 36,597) | 36,723) | 36,361) | 37,083) | 36,118) | 35,276) | 35,294) | |||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Net fixed asset turnover1 | 3.95 | 3.93 | 4.01 | 4.12 | 4.15 | 4.15 | 4.11 | 4.06 | 4.18 | 4.17 | 4.11 | 4.00 | 4.01 | 3.84 | 3.41 | 3.40 | 3.39 | 3.42 | 3.25 | 3.13 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| General Motors Co. | 3.28 | 3.28 | 3.30 | 3.31 | 3.25 | 3.19 | 3.12 | 3.13 | 3.20 | 3.26 | 3.15 | 3.18 | 3.14 | 2.84 | 2.81 | 2.76 | 2.96 | 3.24 | 2.87 | 2.89 | — | — | — | |||||||
| Tesla Inc. | 2.43 | 2.40 | 2.58 | 2.73 | 2.69 | 2.90 | 3.01 | 3.26 | 3.46 | 3.56 | 3.45 | 3.46 | 3.41 | 3.18 | 3.11 | 2.85 | 2.71 | 2.67 | 2.59 | 2.47 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q3 2025 Calculation
Net fixed asset turnover
= (Company revenues excluding Ford CreditQ3 2025
+ Company revenues excluding Ford CreditQ2 2025
+ Company revenues excluding Ford CreditQ1 2025
+ Company revenues excluding Ford CreditQ4 2024)
÷ Net property
= (47,185 + 46,943 + 37,422 + 44,936)
÷ 44,735 = 3.95
2 Click competitor name to see calculations.
- Revenues excluding Ford Credit
- The revenues exhibit a notable fluctuation across the periods analyzed. Beginning with a decline from 31,353 million USD in the first quarter of 2020 to 16,632 million USD in the second quarter of 2020, revenues then recover strongly, peaking around 41,745 million USD in the fourth quarter of 2022. From that peak, revenues continue to show variability but maintain a generally high level above 37,000 million USD, reaching around 47,185 million USD by the third quarter of 2025. This pattern indicates resilience and an overall growth trend following a sharp initial drop.
- Net Property
- The net property value remains relatively stable with a gradual upward trend over the period. Values generally increase from approximately 35,294 million USD in early 2020 to about 44,735 million USD by the third quarter of 2025. Minor fluctuations occur within quarters, but the overall trend evidences steady investment or capital retention in property assets over time.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio is available from the third quarter of 2020 onward and shows a consistent upward trend initially. Starting at 3.13, the ratio increases to over 4.18 by the first quarter of 2024, indicating improved efficiency in generating revenue from fixed assets. After peaking, the ratio slightly declines to around 3.93–3.95 towards the last quarters examined in 2025, suggesting a minor reduction in asset utilization efficiency or changes in asset base or revenue generation dynamics.
- Summary
- Overall, the company demonstrates a recovery and growth in revenues after an early 2020 dip, coupled with a steady increase in net property assets. The net fixed asset turnover ratio improvement reflects enhanced operational efficiency in the use of fixed assets through most of the period, though there is a slight decline observed towards the end. The data suggests strategic capital management that balances asset growth with revenue generation, maintaining strong performance through fluctuations.
Total Asset Turnover
Ford Motor Co., total asset turnover calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Company revenues excluding Ford Credit | 47,185) | 46,943) | 37,422) | 44,936) | 43,069) | 44,811) | 39,890) | 43,213) | 41,176) | 42,427) | 39,085) | 41,745) | 37,205) | 37,934) | 32,195) | 35,305) | 33,249) | 24,149) | 33,565) | 33,229) | 34,727) | 16,632) | 31,353) | |||||||
| Total assets | 300,990) | 292,725) | 284,539) | 285,196) | 287,047) | 276,586) | 274,341) | 273,310) | 268,073) | 265,991) | 256,800) | 255,884) | 246,919) | 245,755) | 252,986) | 257,035) | 252,677) | 248,532) | 260,819) | 267,261) | 259,943) | 269,366) | 264,150) | |||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Total asset turnover1 | 0.59 | 0.59 | 0.60 | 0.61 | 0.60 | 0.61 | 0.61 | 0.61 | 0.61 | 0.60 | 0.61 | 0.58 | 0.58 | 0.56 | 0.49 | 0.49 | 0.49 | 0.51 | 0.45 | 0.43 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| General Motors Co. | 0.59 | 0.59 | 0.61 | 0.61 | 0.58 | 0.58 | 0.58 | 0.58 | 0.56 | 0.57 | 0.55 | 0.55 | 0.52 | 0.47 | 0.47 | 0.46 | 0.49 | 0.52 | 0.46 | 0.46 | — | — | — | |||||||
| Tesla Inc. | 0.72 | 0.72 | 0.77 | 0.80 | 0.81 | 0.84 | 0.87 | 0.91 | 1.02 | 1.04 | 0.99 | 0.99 | 1.01 | 0.98 | 0.94 | 0.87 | 0.81 | 0.76 | 0.68 | 0.60 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q3 2025 Calculation
Total asset turnover
= (Company revenues excluding Ford CreditQ3 2025
+ Company revenues excluding Ford CreditQ2 2025
+ Company revenues excluding Ford CreditQ1 2025
+ Company revenues excluding Ford CreditQ4 2024)
÷ Total assets
= (47,185 + 46,943 + 37,422 + 44,936)
÷ 300,990 = 0.59
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in the company's financial performance and asset management over the observed periods.
- Revenues excluding Ford Credit
- The company's revenues demonstrate a fluctuating yet overall increasing trend from early 2020 through to the anticipated values in late 2025. Revenues started at approximately $31.3 billion in March 2020, dropped significantly to around $16.6 billion in June 2020, which may reflect an external shock or seasonal variation. Subsequently, revenues rebounded and maintained a generally upward trajectory, reaching highs above $47 billion by late 2025. Quarterly revenue spikes, especially during the third and fourth quarters of some years, suggest possible seasonality or successful sales campaigns. Despite occasional declines in certain quarters—such as in Q2 2025—there is a clear pattern of recovery and growth over the medium term.
- Total Assets
- Total assets show a slight overall upward trend from approximately $264 billion in early 2020 to about $301 billion projected for late 2025. Asset values fluctuate within relatively narrow bands quarterly without extreme volatility, indicating stable asset management. The lowest asset values are observed around mid-2022, after which assets rebound slightly. The moderate asset growth alongside increasing revenues implies effective asset utilization and possible investments to support expanded operations.
- Total Asset Turnover
- This ratio, which measures how efficiently the company employs its assets to generate sales, is available from late 2020 onward. It starts at 0.43 in September 2020, gradually improving to approximately 0.61 by late 2023, reflecting improved asset utilization. The ratio stabilizes around 0.6 in subsequent periods through to the projected quarters of 2025, suggesting a consistent efficiency in converting asset base into revenues. This improvement complements the revenue growth and suggests operational enhancements or a focus on optimizing asset deployment.
Overall, the data indicates a company recovering from a significant downturn in early 2020, followed by steady growth in revenues and asset base, coupled with enhanced efficiency in asset use. Forward-looking quarters suggest continuation of these positive trends, though some volatility remains inherent in quarter-to-quarter performance. The company's ability to sustain revenue growth alongside stable asset increments and improving turnover ratios signals sound financial management and operational effectiveness.
Equity Turnover
Ford Motor Co., equity turnover calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Company revenues excluding Ford Credit | 47,185) | 46,943) | 37,422) | 44,936) | 43,069) | 44,811) | 39,890) | 43,213) | 41,176) | 42,427) | 39,085) | 41,745) | 37,205) | 37,934) | 32,195) | 35,305) | 33,249) | 24,149) | 33,565) | 33,229) | 34,727) | 16,632) | 31,353) | |||||||
| Equity attributable to Ford Motor Company | 47,392) | 45,057) | 44,635) | 44,835) | 44,315) | 43,567) | 42,870) | 42,773) | 44,263) | 43,677) | 42,366) | 43,242) | 42,125) | 44,169) | 44,985) | 48,519) | 36,593) | 34,664) | 33,828) | 30,690) | 33,125) | 30,824) | 29,650) | |||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||
| Equity turnover1 | 3.72 | 3.83 | 3.81 | 3.85 | 3.86 | 3.88 | 3.89 | 3.88 | 3.71 | 3.67 | 3.68 | 3.45 | 3.39 | 3.14 | 2.78 | 2.60 | 3.39 | 3.63 | 3.49 | 3.78 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| General Motors Co. | 2.57 | 2.58 | 2.68 | 2.72 | 2.36 | 2.38 | 2.41 | 2.45 | 2.12 | 2.18 | 2.12 | 2.12 | 2.06 | 1.86 | 1.89 | 1.90 | 2.17 | 2.44 | 2.25 | 2.41 | — | — | — | |||||||
| Tesla Inc. | 1.20 | 1.20 | 1.28 | 1.34 | 1.39 | 1.43 | 1.47 | 1.55 | 1.79 | 1.84 | 1.79 | 1.82 | 1.88 | 1.85 | 1.82 | 1.78 | 1.73 | 1.69 | 1.56 | 1.42 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
1 Q3 2025 Calculation
Equity turnover
= (Company revenues excluding Ford CreditQ3 2025
+ Company revenues excluding Ford CreditQ2 2025
+ Company revenues excluding Ford CreditQ1 2025
+ Company revenues excluding Ford CreditQ4 2024)
÷ Equity attributable to Ford Motor Company
= (47,185 + 46,943 + 37,422 + 44,936)
÷ 47,392 = 3.72
2 Click competitor name to see calculations.
- Company Revenues Excluding Ford Credit
- Over the observed periods, revenues display notable volatility with fluctuations reflecting varying market conditions. Initially, there is a steep decline from March 2020 to June 2020, dropping from approximately $31.4 billion to $16.6 billion, likely indicating an external disruptive event. Subsequently, revenues recovered robustly by September 2020, reaching about $34.7 billion, and maintained a generally upward trajectory through 2021 and 2022. The peak values observed in late 2022 and early 2023 show revenues exceeding $41 billion. Throughout 2023 and into 2024, revenues oscillate but maintain levels mostly between $39 billion and $45 billion. A slight decline is noticeable in early 2025, trending towards the lower end near $37 billion before rising again in the subsequent quarters.
- Equity Attributable to Ford Motor Company
- Equity attributable to the company exhibits moderate growth with some fluctuations over the quarters. Starting at roughly $29.7 billion in March 2020, equity increases steadily until December 2021, peaking near $48.5 billion, representing a significant rise within this timeframe. Thereafter, equity values experience a gradual decline and stabilization around the $42 billion to $44 billion range through 2022 and 2023. In 2024, equity levels remain relatively stable with minor fluctuations, starting around $42.9 billion and ending closer to $44.7 billion by early 2025. The data suggest prudent capital management with a tendency towards stabilization after the rapid growth observed up to late 2021.
- Equity Turnover Ratio
- The equity turnover ratio data are only available beginning from September 2020. Initial values approximate 3.78, followed by a slight decline to 2.6 by March 2022, indicating decreasing efficiency in utilizing equity to generate revenues during that interval. From mid-2022 onward, the ratio demonstrates a recovery and consistent improvement, stabilizing around the 3.7 to 3.9 range in 2023 and early 2024. The trend reflects enhanced operational efficiency or revenue generation relative to equity base. Towards 2025, the ratio shows minor fluctuations, maintaining a generally steady performance around 3.8.