Ford Motor (F) FY2019 results: revenue $155.9 billion, down 2.8% on the year
Ford Motor Co. (F) reported revenue of $155.9 billion for fiscal 2019, the year ended 31 December 2019, down 2.8% on the year before. Net income was $47 million, down 98.7%, and diluted earnings per share $0.01. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2020.
Revenue
$155.9 billion
-2.8% on the year
FY2012FY2019
Operating margin
0.4%
2.0% a year earlier
FY2012FY2019
Net income
$47 million
-98.7% on the year
FY2012FY2019
Diluted EPS
$0.01
-98.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
155,900
160,338
156,776
-2.8%
Cost of revenue
134,693
136,269
131,332
-1.2%
Gross profit
21,207
24,069
25,444
-11.9%
Gross margin
13.6%
15.0%
16.2%
Research and development
7,400
8,200
8,000
-9.8%
Selling, general and administrative
11,161
11,403
11,527
-2.1%
Operating income
574
3,203
4,881
-82.1%
Operating margin
0.4%
2.0%
3.1%
Interest expense
5,409
5,157
4,364
+4.9%
Pre-tax income
-640
4,345
8,148
Income tax
-724
650
402
Effective tax rate
n/a
15.0%
4.9%
Net income
47.0
3,677
7,731
-98.7%
Net margin
0.0%
2.3%
4.9%
Diluted EPS
$0.01
$0.92
$1.93
-98.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
17,639
15,022
18,096
+17.4%
Capital expenditure
7,632
7,785
7,049
-2.0%
Free cash flow
10,007
7,237
11,047
+38.3%
Free cash flow margin
6.4%
4.5%
7.0%
Cash from investing
-13,721
-16,261
-19,360
Cash from financing
-3,129
-122
3,394
Depreciation and amortisation
10,493
9,385
9,241
+11.8%
Share-based compensation
228
191
246
+19.4%
Buybacks
237
164
131
+44.5%
Dividends paid
2,389
2,905
2,584
-17.8%
Dividend per share
$0.60
$0.73
$0.65
-17.8%
Diluted shares, weighted
4,004m
3,998m
3,998m
+0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
33,185
35,932
35,578
-7.6%
Non-controlling interest
45.0
34.0
28.0
+32.4%
Redeemable equity
0.0
100
98.0
Debt
470
600
n/a
-21.7%
Operating lease liabilities
1,047
0.0
n/a
Other liabilities
223,790
219,874
222,792
+1.8%
Total liabilities and equity
258,537
256,540
258,496
+0.8%
Fixed assets
36,469
36,178
35,327
+0.8%
Goodwill
278
264
75.0
+5.3%
Intangible assets
188
178
213
+5.6%
Investments
17,147
17,233
20,435
-0.5%
Cash and equivalents
17,504
16,718
18,492
+4.7%
Receivables
9,237
11,195
10,599
-17.5%
Inventory
10,786
11,220
11,176
-3.9%
Other assets
166,928
163,554
162,179
+2.1%
Total assets
258,537
256,540
258,496
+0.8%
10-K for the year ended 31 December 2019, filed 5 February 2020: the filing.