Ford Motor Company stock research
FY2026 Q1
Ford Motor (F) Gross Margin — Quarter Ended Mar 31, 2026
Revenue decreased from the prior quarter but increased year-over-year, while gross profit turned positive and improved significantly. Cost of revenue declined sharply from the prior quarter, resulting in a substantial improvement in gross margin.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue decreased from the prior quarter but increased year-over-year, while gross profit turned positive and improved significantly. Cost of revenue declined sharply from the prior quarter, resulting in a substantial improvement in gross margin.
- The margin improvement was driven by a lower cost of revenue relative to the prior quarter, as gross profit moved from negative to positive.
- Compared with the immediately preceding quarter, gross margin improved from a negative to a positive figure. Versus the same quarter one year earlier, gross margin was higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
18.4%
Gross profit
$7.9B
Revenue
$43.3B
Cost of revenue
$35.3B
Quarter-over-quarter change
+30.9 pts
Year-over-year change
+4.9 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, 2025 | $50.2B | $5.9B | $44.2B | 11.8% |
| Sep 30, 2025 | $50.5B | $7.1B | $43.4B | 14.1% |
| Dec 31, 2025 | $45.9B | -$5.7B | $51.6B | -12.5% |
| Mar 31, 2026 | $43.3B | $7.9B | $35.3B | 18.4% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
+30.9 pts
Year-over-year change
Mar 31, 2025
+4.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The margin improvement was driven by a lower cost of revenue relative to the prior quarter, as gross profit moved from negative to positive.
Compared with the immediately preceding quarter, gross margin improved from a negative to a positive figure. Versus the same quarter one year earlier, gross margin was higher.
Monitor the recovery of production following the supplier plant fires, as disclosed in the filing, which may affect future cost of revenue and margins.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Ford Motor Company (F) | 18.4% |
| General Motors Company (GM) | 18.2% |
| Tesla, Inc. (TSLA) | 21.1% |