Ford Motor (F) FY2020 results: revenue $127.1 billion, down 18.4% on the year
Ford Motor Co. (F) reported revenue of $127.1 billion for fiscal 2020, the year ended 31 December 2020, down 18.4% on the year before. Net income was -$1.3 billion, and diluted earnings per share $-0.32. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2021.
Revenue
$127.1 billion
-18.4% on the year
FY2013FY2020
Operating margin
-3.5%
0.4% a year earlier
FY2013FY2020
Net income
-$1.3 billion
FY2013FY2020
Diluted EPS
-$0.32
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
127,144
155,900
160,338
-18.4%
Cost of revenue
112,752
134,693
136,269
-16.3%
Gross profit
14,392
21,207
24,069
-32.1%
Gross margin
11.3%
13.6%
15.0%
Research and development
7,100
7,400
8,200
-4.1%
Selling, general and administrative
10,193
11,161
11,403
-8.7%
Operating income
-4,408
574
3,203
Operating margin
-3.5%
0.4%
2.0%
Interest expense
5,051
5,409
5,157
-6.6%
Pre-tax income
-1,116
-640
4,345
Income tax
160
-724
650
Effective tax rate
n/a
n/a
15.0%
Net income
-1,279
47.0
3,677
Net margin
-1.0%
0.0%
2.3%
Diluted EPS
-$0.32
$0.01
$0.92
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
24,269
17,639
15,022
+37.6%
Capital expenditure
5,742
7,632
7,785
-24.8%
Free cash flow
18,527
10,007
7,237
+85.1%
Free cash flow margin
14.6%
6.4%
4.5%
Cash from investing
-18,615
-13,721
-16,261
Cash from financing
2,315
-3,129
-122
Depreciation and amortisation
8,774
10,493
9,385
-16.4%
Share-based compensation
199
228
191
-12.7%
Buybacks
0.0
237
164
Dividends paid
596
2,389
2,905
-75.1%
Dividend per share
$0.15
$0.60
$0.73
-75.0%
Diluted shares, weighted
3,973m
4,004m
3,998m
-0.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
30,690
33,185
35,932
-7.5%
Non-controlling interest
121
45.0
34.0
+168.9%
Redeemable equity
n/a
0.0
100
Debt
161,684
470
600
+34,300.9%
Operating lease liabilities
991
1,047
0.0
-5.3%
Other liabilities
73,775
223,790
219,874
-67.0%
Total liabilities and equity
267,261
258,537
256,540
+3.4%
Fixed assets
37,083
36,469
36,178
+1.7%
Goodwill
258
278
264
-7.2%
Intangible assets
144
188
178
-23.4%
Investments
24,718
17,147
17,233
+44.2%
Cash and equivalents
25,243
17,504
16,718
+44.2%
Receivables
9,993
9,237
11,195
+8.2%
Inventory
10,808
10,786
11,220
+0.2%
Other assets
159,014
166,928
163,554
-4.7%
Total assets
267,261
258,537
256,540
+3.4%
10-K for the year ended 31 December 2020, filed 5 February 2021: the filing.