Ford Motor Company stock research
FY2025 Q1
Ford Motor (F) Gross Margin — Quarter Ended Mar 31, 2025
Revenue decreased from the immediate prior quarter and the year-ago quarter, while cost of revenue fell more slowly, leading to a lower gross profit and gross margin. The gross margin weakened sequentially and compared to the same period a year earlier.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue decreased from the immediate prior quarter and the year-ago quarter, while cost of revenue fell more slowly, leading to a lower gross profit and gross margin. The gross margin weakened sequentially and compared to the same period a year earlier.
- The decline in gross profit was driven by a lower ratio of gross profit to revenue, as cost of revenue consumed a greater share of revenue compared to both prior periods.
- Compared to the immediately preceding quarter, revenue, gross profit, and gross margin were all lower. Versus the same quarter one year earlier, revenue and gross profit were lower, and gross margin also weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
13.5%
Gross profit
$5.5B
Revenue
$40.7B
Cost of revenue
$35.2B
Quarter-over-quarter change
-0.9 pts
Year-over-year change
-1.3 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2024 | $47.8B | $7.3B | $40.5B | 15.3% |
| Sep 30, 2024 | $46.2B | $6.0B | $40.2B | 13.0% |
| Dec 31, 2024 | $48.2B | $6.9B | $41.3B | 14.3% |
| Mar 31, 2025 | $40.7B | $5.5B | $35.2B | 13.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2024
-0.9 pts
Year-over-year change
Mar 31, 2024
-1.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The decline in gross profit was driven by a lower ratio of gross profit to revenue, as cost of revenue consumed a greater share of revenue compared to both prior periods.
Compared to the immediately preceding quarter, revenue, gross profit, and gross margin were all lower. Versus the same quarter one year earlier, revenue and gross profit were lower, and gross margin also weakened.
Monitor the trajectory of revenue relative to cost of revenue, as the gap between them narrowed in the current quarter.