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Ford Motor cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$3.1B in Q3 2026 · $5.1B over twelve months

Operating cash flow$5.4B
Capital spending−$2.3B
Free cash flow+$3.1B
Cash / net income2.6×
Cash conversion cycle11 days

Analysis

In Q3 2026, Ford Motor generated $5.4B of operating cash flow and spent $2.3B on capital projects, leaving free cash flow of $3.1B. That is $2.1B less than in Q3 2025 ($5.3B).

Over the twelve months to Sep 30, 2026, operating cash flow was $15.0B; the largest uses were capital spending ($9.8B), other investing ($5.8B), dividends ($2.4B); the cash balance fell by $4.5B.

Operating cash flow was $5.4B against net income of $2.0B — 2.6× profit, cash ran ahead of reported earnings. The largest differences: payables +$3.3B, depreciation & amortization +$2.0B, inventory +$664M.

Its cash conversion cycle was 11 days (receivables 35 + inventory 36 − payables 60).

Free cash flow

Ford Motor: free cash flow by quarterFord Motor: free cash flow by quarter$530MQ4 2024$1.9BQ1 2025$4.2BQ2 2025$5.3BQ3 2025$1.1BQ4 2025−$1.1BQ1 2026$2.0BQ2 2026$3.1BQ3 2026
Operating cash flow less capital spending.
Ford Motor: operating cash flow against capital spendingFord Motor: operating cash flow against capital spendingOperating cash flowCapital spending$3.0B$2.5BQ4 2024$3.7B$1.8BQ1 2025$6.3B$2.1BQ2 2025$7.4B$2.1BQ3 2025$3.9B$2.8BQ4 2025$1.3B$2.4BQ1 2026$4.3B$2.4BQ2 2026$5.4B$2.3BQ3 2026
Latest (Q3 2026): Operating cash flow $5.4B, Capital spending $2.3B.

Capital allocation, year by year

Ford Motor: where the cash came from (up) and went (down), by fiscal yearFord Motor: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksDividendsFY2021: Operating cash flow $15.8BFY2021: Net borrowing −$23.0BFY2021: Shares issued $133MFY2021: Capital spending −$6.2BFY2021: Dividends −$403M$15.9BFY2021FY2022: Operating cash flow $6.9BFY2022: Net borrowing $5.2BFY2022: Shares issued $22.0MFY2022: Capital spending −$6.9BFY2022: Buybacks −$484MFY2022: Dividends −$2.0B$12.1BFY2022FY2023: Operating cash flow $14.9BFY2023: Net borrowing $8.2BFY2023: Shares issued $16.0MFY2023: Capital spending −$8.2BFY2023: Buybacks −$335MFY2023: Dividends −$5.0B$23.1BFY2023FY2024: Operating cash flow $15.4BFY2024: Net borrowing $11.4BFY2024: Capital spending −$8.7BFY2024: Buybacks −$426MFY2024: Dividends −$3.1B$26.8BFY2024FY2025: Operating cash flow $21.3BFY2025: Net borrowing $39.0MFY2025: Shares issued $3.0MFY2025: Capital spending −$8.8BFY2025: Dividends −$3.0B$21.3BFY2025
Over these 5 years operating cash flow totalled $74.3B; the largest uses were capital spending ($38.8B) and net borrowing ($23.0B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$34.1B
Debtnone
Net cash$34.1B

Ford Motor funds itself: free cash flow was $5.1B over the last twelve months, with $34.1B of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Ford Motor: sources (+) and uses (−) of cash, Q3 2026Ford Motor: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$5.4BCash drawn (+) / kept (−)−$3.7BNet borrowing (+) / repaid (−)$2.8BCapital spending−$2.3BOther investing−$1.6BDividends−$598MOther financing−$43.0MExchange rates−$25.0M
Ford Motor: sources (+) and uses (−) of cash, TTM to Q3 2026Ford Motor: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$15.0BCapital spending−$9.8BOther investing−$5.8BCash drawn (+) / kept (−)$4.5BDividends−$2.4BNet borrowing (+) / repaid (−)−$831MBuybacks−$311MOther financing−$296MNot reconciled−$62.0M

From profit to cash

Ford Motor: net income to operating cash flow, Q3 2026Ford Motor: net income to operating cash flow, Q3 2026Net income$2.0BDepreciation & amortization$2.0BStock-based pay$113MDeferred taxes$56.0MGains on investments$23.0MReceivables$84.0MInventory$664MPayables$3.3BOperating cash flow$5.4B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202635366011
Q2 202633365712
Q1 20263441668
Q4 202535284815
Q3 202535365912
Q2 202533365614
Q1 202535426413
Q4 20243037579

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$5.4B−$2.3B—−$598M$2.8B−$3.7B$3.1B
Q2 2026$4.3B−$2.4B—−$599M$443M−$893M$2.0B
Q1 2026$1.3B−$2.4B−$311M−$607M−$5.1B$5.7B−$1.1B
Q4 2025$3.9B−$2.8B—−$599M$1.0B$3.3B$1.1B
Q3 2025$7.4B−$2.1B—−$597M$4.5B−$3.8B$5.3B
Q2 2025$6.3B−$2.1B—−$597M−$661M−$2.2B$4.2B
Q1 2025$3.7B−$1.8B—−$1.2B−$4.8B$2.1B$1.9B
Q4 2024$3.0B−$2.5B−$150M−$596M$4.6B$536M$530M

Ford Motor: income statement and cash flow

Ford Motor, Q3 2026: revenue $49.5B (-2% year over year), operating margin 2.9%. The chart follows the revenue to costs, profit and cash.

Ford Motor: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.