Ford Motor (F) just posted a tough finish to FY 2025, with Q4 revenue of US$45.9 billion and a basic EPS loss of US$2.78, while trailing twelve month EPS came in at a loss of US$2.06 on revenue of US$187.3 billion. The company has seen quarterly revenue move from US$48.2 billion and EPS of US$0.46 in Q4 2024 to US$45.9 billion and a loss of US$2.78 per share in Q4 2025. Trailing EPS shifted from US$1.48 a year ago to a loss of US$2.06 most recently, setting up a results season where margins are clearly under pressure and future earnings growth expectations are front and center for investors parsing the release.

See our full analysis for Ford Motor.

With the latest numbers on the table, the next step is to see how this earnings profile lines up against the widely followed stories about Ford's long term profitability, risks, and potential recovery.

Trailing 12-Month Losses Now At US$8.2b

• On a trailing 12-month basis, Ford moved from net income of US$5.9b a year ago to a net loss of US$8.2b, with trailing EPS shifting from US$1.48 to a loss of US$2.06 over the same period.
• Bears often focus on long running profitability challenges, and the data here gives them material to point to:
  • Losses have widened over the past five years at about 17.6% a year, and FY 2025 Q4 alone shows a net loss of US$11.1b and a basic EPS loss of US$2.78 after three earlier quarters that were roughly breakeven to modestly profitable.
  • At the same time, revenue over the trailing 12 months sits at US$187.3b and is described as modest in growth, which fits the bearish concern that a large revenue base is not currently translating into consistent profits.

Bears warn that even with Ford's scale, widening losses and modest revenue momentum could keep pressure on the story for longer than many expect. 🐻 Ford Motor Bear Case

Revenue Holds Near US$187b While Margins Squeeze

• Across FY 2025, quarterly revenue stayed in a fairly tight band between US$40.7b and US$50.5b, yet the year finished with FY 2025 Q4 net income at a loss of US$11.1b compared with income of US$1.8b in FY 2024 Q4, showing that the recent pressure is more about margins than top line levels.
• The consensus narrative talks about cost controls and efficiency improvements supporting higher margins over time, and the current figures provide a mixed backdrop for that view:
  • On one hand, trailing 12-month revenue has moved from US$184.9b to US$187.3b while analysts still expect margins to improve from 1.7% to around 3.6% in the coming years, which is the core of the balanced thesis that earnings can grow even if revenue growth is only around 0.08% a year.
  • On the other hand, the recent swing from positive trailing EPS of US$1.48 to a loss of US$2.06 shows that, so far, cost and warranty improvements have not fully flowed through to the bottom line, which is exactly the type of execution gap skeptics of the consensus view highlight.

Low P/S Multiple Meets Profit Recovery Hopes

• Ford trades on a P/S of 0.3x compared with a US auto industry average of 0.6x and a peer average of 1.4x, and the current share price of US$14.00 is close to both an analyst price target of US$13.87 and a DCF fair value of about US$14.20.
• Bulls argue that expected earnings growth of about 74.48% a year and a return to profitability within three years justify those low multiples, and the current numbers partly back that optimism while flagging some clear constraints:
  • The trailing 12-month loss of US$8.2b and the FY 2025 Q4 loss of US$11.1b mean the stock is not supported by current profits, which is why income based measures like dividend coverage and debt coverage look weak even though the P/S looks low.
  • At the same time, the share price sitting close to both the US$13.87 analyst target and the US$14.20 DCF fair value suggests the market is already weighing those recovery forecasts against present unprofitability, which is exactly the trade off bullish and cautious investors are debating.

If you want to see how optimists tie Ford's current losses and low P/S into a recovery story, it is worth reading the full bullish case. 🐂 Ford Motor Bull Case

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Ford Motor on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

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A great starting point for your Ford Motor research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.

See What Else Is Out There

Ford's recent net loss of US$11.1b in FY 2025 Q4, trailing 12-month loss of US$8.2b, and pressured margins highlight meaningful profitability and execution risks.

If those swings in earnings and margins make you cautious, it could be worth balancing your portfolio with companies from our 84 resilient stocks with low risk scores that prioritize steadier financial profiles and lower risk scores.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.