Tesla, Inc. (TSLA)vs
Ford Motor Company (F)
Factual comparison for information only — not investment advice. Capital is at risk.
Quick verdict
These two sit on opposite sides of the profit line. Tesla earned $3.8bn on revenue of $103.6bn in the twelve months to June 2026, a net margin of 3.67%. Ford lost $6.1bn on revenue of $189.9bn in the twelve months to March 2026, an operating loss of $7.2bn and a net margin of -3.20%. That asymmetry rules out any side-by-side earnings multiple: Ford has no meaningful P/E, so the comparison runs through sales, book value and cash. On those, our scoring hands valuation and income to Ford, which trades at 0.31x sales and 1.59x book with a 4.1% dividend yield, against Tesla's 13.5x sales and 16.1x book with no dividend. Growth, quality, balance sheet and momentum are all judged too close to call. The overall tally is 4-2 in Ford's favour, but that reflects price and cash returns, not superior trading performance.
At-a-glance comparison
| Metric | TSLA | F |
|---|---|---|
| Price (4 Sept 2026) | $354.08 | $14.62 |
| Market cap | $1.40T | $59.5B |
| EV / EBITDA | 141.9× | — |
| Price / sales | 13.5× | 0.3× |
| FCF yield | 0.4% | 16.0% |
| Rev. growth (3y) | 5.2% | 5.8% |
| EPS growth (3y) | -33.2% | n/a |
| Operating margin | 4.2% | -3.8% |
| ROIC | 4.0% | n/a |
| Net debt / EBITDA | -0.63× | n/a |
| Dividend yield | 0.0% | 4.1% |
Business model and revenue mix
Ford designs and builds cars, trucks and SUVs under the Ford and Lincoln brands and runs a vehicle-financing arm, Ford Credit — a structure that puts a lending book inside an industrial company and makes its balance sheet read differently from a pure manufacturer. Tesla makes electric vehicles and battery-storage products and sells software, charging and energy services, so a portion of its revenue carries software-like characteristics rather than unit economics alone. Both are classified in Consumer Cyclical, Auto Manufacturers, both are US-listed with December fiscal year ends, and both report on a trailing-twelve-month basis. The scale gap runs Ford's way on the top line: $189.9bn of revenue to March 2026 against Tesla's $103.6bn to June 2026, roughly eighty per cent more. Market value runs the other way entirely, and by a far wider margin.
Valuation
On price, the verdict goes to Ford, and the gap is not subtle. At the 4 September 2026 close, Ford's market capitalisation was $59.5bn against revenue of $189.9bn — 0.31x sales — and 1.59x book value. Tesla's $1,398.5bn market capitalisation equates to 13.5x sales and 16.1x book, with an EV/EBITDA of 141.9x. Tesla's trailing P/E of 327.9x on earnings per share of $1.08 is quoted here only for completeness; Ford has no equivalent, because its trailing EPS of -$1.55 makes the ratio meaningless rather than merely high. Free cash flow tells the same story from another angle: Ford's $9.5bn of trailing free cash flow against its market value gives a 16.04% free cash flow yield, while Tesla's $5.8bn works out at 0.41%. Investors are paying for very different things.
Growth profile
Neither company separates itself on the top line, which is why growth is scored a tie. Measured from fiscal 2022 to fiscal 2025, Ford compounded revenue at 5.82% a year and Tesla at 5.19% — close enough to be noise. Stretch the window back to the fiscal 2020 base and Tesla's record looks far stronger, a 24.63% annual rate against Ford's 8.05%, but almost all of that advantage was earned in the earlier years of the period and has not carried into the three-year figure. On earnings, Tesla's EPS shrank at 33.18% a year from fiscal 2022 to fiscal 2025, a decline that sits awkwardly beside the revenue growth. No comparable figure exists for Ford: its earnings crossed from positive to negative over the period, and a percentage change across a sign change is arithmetic rather than a growth rate.
Profitability and quality
Quality is scored a tie, which requires explanation given one company made money and one did not. Tesla's margins are positive but thin for the multiple attached: an 18.85% gross margin, a 4.22% operating margin, a 3.67% net margin, return on equity of 4.61% and return on invested capital of 4.01% on shareholders' equity of $86.9bn. Ford's trailing figures to March 2026 show a gross margin of 8.04% collapsing into an operating margin of -3.77% and a net margin of -3.20%, with return on equity at -14.82% on $37.5bn of equity. Yet Ford generated $9.5bn of free cash flow over the same period against Tesla's $5.8bn — a reminder that its reported loss and its cash generation point in opposite directions. Tesla is the profitable one; Ford converts more cash.
Balance-sheet risk
Solvency is judged too close to call, though the two are documented differently. Tesla held $15.2bn of cash against $9.1bn of total debt at 30 June 2026, leaving it in a net cash position — net debt to EBITDA of -0.63x — with a current ratio of 1.94 and interest cover of 13.09 times. Ford reported $17.6bn of cash at 31 March 2026 and a current ratio of 1.09, thinner but not unusual for a manufacturer with a captive finance arm. Ford's interest coverage has been withheld here: with an operating loss of $7.2bn the ratio is negative and conveys nothing useful, and Ford Credit's borrowings are funding assets rather than the industrial business, so a headline debt figure would mislead. On what is comparable, Tesla's liquidity cushion is the cleaner one; the tie reflects the limits of like-for-like data.
Price performance and shareholder returns
Shareholder returns are where Ford scores outright. Over the trailing twelve months Ford paid $0.60 per share, a dividend yield of 4.1% at the September 2026 price, alongside a 0.52% buyback yield — roughly 4.6% returned in cash. Tesla pays no dividend, has repurchased no stock on a net basis, and carries a payout ratio of zero, retaining all of its $3.8bn of trailing earnings. The awkward detail is that Ford is funding those distributions while reporting a $6.1bn loss; the $9.5bn of free cash flow is what makes it possible, and the 16.04% free cash flow yield is the figure to watch rather than the loss-making EPS of -$1.55. Tesla's 0.41% free cash flow yield leaves little room for cash returns even if policy changed. For income, this is a one-sided comparison.
Which stock fits which investor
The style tags divide cleanly: Ford is tagged income and mature, Tesla mature alone. An investor screening on price and cash distribution lands on Ford — 0.31x sales, 1.59x book, a 4.1% dividend yield and a 16.04% free cash flow yield are the kind of numbers that appear on deep-value screens, with the obvious caveat that the trailing period produced a $6.1bn loss and a -14.82% return on equity. Anyone requiring reported profitability is directed to Tesla, though at 13.5x sales, 16.1x book and 141.9x EV/EBITDA the price assumes a great deal more than the current 4.22% operating margin delivers. Our scoring puts Ford ahead 4-2 overall and names it best for value, growth and income, with quality tied. Neither profile suits an investor wanting profits and a reasonable multiple in the same holding.
- Value: F
- Growth: F
- Income: F
- Quality: Too close to call
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Frequently asked questions
- Which of Tesla and Ford was profitable over the trailing period?
- Tesla. It reported net income of $3.8bn on revenue of $103.6bn in the twelve months to June 2026. Ford reported a net loss of $6.1bn on revenue of $189.9bn in the twelve months to March 2026, alongside an operating loss of $7.2bn.
- Why is there no P/E ratio shown for Ford?
- Ford's trailing earnings per share was -$1.55, so a price-to-earnings ratio cannot be calculated meaningfully. Price-to-book of 1.59x and price-to-sales of 0.31x are the usable valuation measures for Ford, against Tesla's 16.1x and 13.5x respectively.
- How can Ford pay a 4.1% dividend while making a loss?
- Ford generated $9.5bn of free cash flow in the twelve months to March 2026 despite the $6.1bn accounting loss. That cash funded $0.60 per share of dividends and a 0.52% buyback yield. Tesla pays no dividend and has a payout ratio of zero.
- Which company is growing faster?
- Growth is scored a tie. From fiscal 2022 to fiscal 2025 Ford compounded revenue at 5.82% a year and Tesla at 5.19%. Tesla's five-year figure from the fiscal 2020 base is far higher at 24.63%, but that advantage was earned earlier and does not show in the three-year rate.
- Which has the stronger balance sheet?
- Too close to call on the available data. Tesla held $15.2bn cash against $9.1bn total debt at 30 June 2026, net debt to EBITDA of -0.63x and a current ratio of 1.94. Ford held $17.6bn cash at 31 March 2026 with a current ratio of 1.09; its interest cover was withheld as meaningless against an operating loss.
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Methodology and data sources
Each comparison runs both companies through a transparent six-factor framework — valuation, growth, profitability/quality, balance-sheet strength, income and momentum. Factor winners are decided by fixed rules on the metrics shown above, not opinion. Financial-statement figures come from each company's own filings with the U.S. Securities and Exchange Commission (annual 10-K and quarterly 10-Q reports, read from EDGAR's XBRL data). Income-statement and cash-flow items are trailing twelve months to June 30, 2026 for TSLA and March 31, 2026 for F; balance-sheet items are as at each company's latest reported quarter. Share prices are exchange closing prices as of September 4, 2026, and every valuation multiple combines those prices with the filed figures. Forward P/E is not shown because analyst estimates are not part of any filing. The “last updated” date is when this page was last regenerated. TickerVerdict provides factual data comparisons for informational purposes only. Nothing here is investment advice or a recommendation to buy or sell any security. Figures may be delayed; verify with your broker before investing. Capital is at risk.