Ford Motor Company (F) BofA ABS Summit presentation summary

Strategic business segments and operational highlights

• Three interconnected segments: Blue (gas/hybrid), Pro (commercial), and Model e (electric), leveraging global scale and integrated services.

• Record 2025 revenue of $187.3B, with global hybrid sales up nearly 25% and U.S. market share at 13.2%.

• F-Series remains America’s best-selling truck for the 49th year, up 8.3% in sales.

• Ford Pro’s software and services now contribute 19% of segment EBIT, with paid subscriptions up 53% YoY.

• Announced Ford Energy, a high-margin battery energy storage business, and focused capital on high-return truck and multi-energy portfolios.

Financial performance and segment results

• Full-year adjusted EBIT was $6.8B (3.6% margin), with adjusted free cash flow of $3.5B and adjusted EPS of $1.09.

• Ford Blue posted $3.0B EBIT, down $2.2B YoY due to lower volumes and tariffs, but pricing and warranty improvements partially offset declines.

• Model e (electric) reported a $4.8B EBIT loss, improved by $0.3B YoY, driven by volume/mix and material cost improvements.

• Ford Pro delivered $6.8B EBIT, down $2.2B, with software and services growth offsetting market normalization and tariffs.

• Ford Credit achieved $2.6B EBT, up $0.9B, with strong financing margins and higher receivables, despite higher credit losses.

Capital, liquidity, and balance sheet

• Maintained a strong balance sheet with nearly $29B in cash and $50B in total liquidity at year-end 2025.

• Net liquidity at $24.6B, leverage within the 9:1 to 10:1 target range, and diversified funding across platforms.

• Completed $11B of public issuance YTD in 2026, with a forecast of $24–30B for the year.

• Floorplan portfolio net losses remained minimal at 0.032% of average principal balance in 2025.

• Payment rates averaged 50.8% in 2025, reflecting robust dealer inventory turnover.