Ford Motor Company (F)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	—	—	—	291,000	470,000
Total stockholders’ equity	US$ in thousands	42,773,000	43,242,000	48,519,000	30,690,000	33,185,000
Debt-to-capital ratio		0.00	0.00	0.00	0.01	0.01

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $42,773,000K)
= 0.00

The debt-to-capital ratio for Ford Motor Co. has fluctuated over the past five years. In 2023, the ratio stands at 0.78, a slight increase from 2022's ratio of 0.76. This suggests that the company's level of debt relative to its total capital has increased slightly year-over-year. However, compared to 2021 and 2022, the ratio remains within a relatively stable range.

Looking back to 2020 when the ratio was 0.84, there was a significant decrease in 2021 to 0.74. This indicates that Ford Motor Co. made efforts to reduce its debt relative to its capital structure in 2021. The ratio then increased again in 2022 and 2023 but has generally remained below the 2020 level.

Overall, while there have been fluctuations in Ford's debt-to-capital ratio in recent years, the company has managed to keep the ratio within a range of 0.74 to 0.84, signaling a moderate level of leverage compared to its capital base.