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October 25, 2025 • 3 min read
Ford Motor Co. recently filed its third-quarter 2025 financial results, offering a detailed look into its performance as it navigates the complex automotive market. The report, available on the SEC's website, reveals a company with growing revenues and sharply higher profits, but a closer examination of its distinct business segments—Ford Blue, Ford Model e, and Ford Pro—paints a picture of strategic investment and varied performance.
For the third quarter ending September 30, 2025, Ford reported total revenues of $50.5 billion, a solid increase from $46.2 billion in the same period last year. More impressively, net income soared to $2.4 billion, a dramatic rise from the $896 million reported in Q3 2024. This pushed the company's net margin up to 4.8% from 1.9% a year ago.
To better understand how Ford generated this profit from its revenue, the following flow diagram visualizes the company's income statement for the quarter.
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Ford's strategy of splitting its operations into three distinct units provides clear insight into where the company is making money and where it's investing for the future.
Ford Pro, the commercial vehicle and services division, continues to be the company's profit powerhouse. It generated $2.0 billion in EBIT (Earnings Before Interest and Taxes) on $17.4 billion in revenue. With an impressive EBIT margin of 11.4%, this segment, which serves business and government customers, is a crucial engine for Ford's financial health.
Ford Blue, which manages the company's traditional internal combustion engine (ICE) and hybrid vehicle portfolio, remains the largest revenue generator at $28.0 billion. It posted a respectable EBIT of $1.5 billion, translating to a 5.5% margin. This division represents the stable, high-volume foundation of the company.
Ford Model e, the electric vehicle (EV) division, highlights the cost of transitioning to an electric future. While revenue grew to $1.8 billion on the back of 50,000 wholesale units, the segment recorded a significant EBIT loss of $1.4 billion. This equates to a loss of approximately $28,200 for every EV sold during the quarter. This loss reflects the massive ongoing investments in research, development, and scaling production necessary to compete in the burgeoning EV market.
Ford's Q3 2025 results showcase a company in a delicate balancing act. The robust profitability of its Ford Pro and Ford Blue divisions is currently funding the capital-intensive and, for now, unprofitable pivot to electric vehicles. The central challenge for Ford remains clear: can it maintain the strength of its traditional businesses long enough to turn its EV division into a sustainable, profitable enterprise? This filing demonstrates that while the path is expensive, the company's legacy operations are providing the necessary financial fuel for the journey.
Last updated: October 25, 2025