Ford does not publish profit margins for individual models such as the F-150, Bronco, Mustang, or Explorer. Instead, Ford reports profitability through three major automotive businesses: Ford Blue for most gasoline and hybrid retail vehicles, Ford Pro for commercial vehicles and services, and Ford Model e for electric vehicles.
That means claims that an F-150 has a specific 20%, 25%, or 30% profit margin should be treated as estimates rather than official Ford figures. The closest reliable numbers come from Ford’s segment financial reports.
For the first half of 2026, Ford reported an EBIT margin of 10.5% for Ford Pro, 6.2% for Ford Blue, and negative 75.1% for Ford Model e. Those numbers give us a useful picture of where Ford makes money, but they should not be mistaken for the margins of individual vehicles.
Ford Profitability by Model: The Best Available Comparison
The table below maps major Ford models to the business segment in which their sales are generally reported. The percentage shown is the segment EBIT margin for the first half of 2026, not the individual model’s margin.
| Ford Model | Primary Reporting Segment | H1 2026 Segment EBIT Margin | What We Can Say |
|---|---|---|---|
| F-150 gas/hybrid | Ford Blue / Ford Pro* | 6.2% / 10.5% | An important positive contributor, but Ford does not disclose a standalone F-150 margin. |
| F-250 / F-350 / Super Duty | Ford Pro | 10.5% | Super Duty is specifically identified as a core Ford Pro product, but its individual margin is undisclosed. |
| Transit | Ford Pro | 10.5% | Part of Ford’s highly profitable commercial-vehicle business. |
| Bronco | Ford Blue | 6.2% | Ford has cited Bronco and favorable product mix as contributors to Blue’s results. |
| Explorer | Ford Blue | 6.2% | Profitable within Ford Blue as a group; standalone margin is not disclosed. |
| Expedition | Ford Blue | 6.2% | Large SUVs contribute to a favorable vehicle mix, but no individual margin is reported. |
| Maverick gas/hybrid | Ford Blue / Ford Pro* | 6.2% / 10.5% | Retail and commercial sales can fall into different reporting segments. |
| Mustang | Ford Blue | 6.2% | The gasoline Mustang sits within Ford’s profitable ICE and hybrid business. |
| Mustang Mach-E | Ford Model e | -75.1% | Model e remains loss-making overall. This does not mean the Mach-E itself has a -75.1% margin. |
| F-150 Lightning | Ford Model e | -75.1% | Its results were included in Ford’s loss-making first-generation EV operation before Ford discontinued Lightning production. |
*Ford’s reporting structure is partly based on the customer rather than just the vehicle. In the United States and Canada, sales to commercial, government, and rental customers are generally included in Ford Pro. Consequently, the same nameplate can appear in different segments depending on who buys it.
Ford Pro Is the Company’s Highest-Margin Automotive Business
The strongest official evidence points to Ford’s commercial business as its most profitable automotive operation.
According to Ford’s second-quarter 2026 SEC filing, Ford Pro produced $3.403 billion of EBIT on $32.513 billion of revenue during the first half of 2026. That works out to a 10.5% EBIT margin.
Ford specifically lists Super Duty and Transit among Ford Pro’s core vehicle lines in North America. Ford Pro also includes commercial, government, and rental sales of other Ford vehicles in the United States and Canada.
The result does not prove that an F-350 has a 10.5% margin. Ford Pro also includes service parts, software, fleet services, and different vehicle lines. Still, it provides much stronger evidence for the profitability of Ford’s commercial-truck business than unsupported estimates of profit per pickup.
How Profitable Is the Ford F-150?
The F-150 is clearly one of Ford’s most economically important products, but there is no official F-150 profit-margin percentage.
One reason is that Ford does not keep every F-150 sale in a single reporting segment. A retail gasoline or hybrid F-150 generally falls within Ford Blue, while a truck sold to a commercial customer in the U.S. or Canada can be reported through Ford Pro.
Ford Blue reported a 6.2% EBIT margin for the first half of 2026. Ford Pro reported 10.5% over the same period. Neither percentage can simply be assigned to the F-150.
There is nevertheless strong evidence that trucks matter disproportionately to Ford’s profitability. In December 2025, Ford described Ford Pro and its market-leading trucks and vans as higher-return growth opportunities. Ford has also repeatedly highlighted favorable pricing and product mix from trucks and off-road vehicles in its financial results.
Why Super Duty May Matter Even More Than the F-150
F-250, F-350, and other Super Duty models occupy a particularly attractive part of Ford’s lineup. They are sold at relatively high transaction prices, offer extensive trim and option combinations, and are heavily used by commercial customers.
More importantly, Ford specifically identifies Super Duty as a core Ford Pro vehicle. Ford Pro has consistently produced much stronger margins than Ford’s regular retail-vehicle business.
For full-year 2025, Ford Pro generated a 10.3% EBIT margin, compared with just 3.0% for Ford Blue, according to Ford’s 2025 annual report. During the first half of 2026, Ford Pro’s margin remained 10.5%.
That does not let us calculate the exact profit on an F-250 or F-350, but it makes Super Duty’s presence in Ford’s highest-margin automotive segment significant.
Bronco, Explorer, and Expedition Are Important to Ford Blue
Ford Blue contains most of Ford’s traditional gasoline and hybrid retail business, including products such as the Bronco, Explorer, Expedition, Mustang, and retail F-Series trucks.
Blue’s profitability can swing considerably from quarter to quarter because of production volumes, vehicle mix, incentives, commodity prices, tariffs, warranty expenses, and model launches.
For example, Ford Blue’s EBIT margin was only 3.0% for full-year 2025, but improved to 6.2% for the first half of 2026. In the second quarter of 2026 alone, Ford said higher sales of Expedition, Explorer, and Bronco contributed to a more favorable product mix.
This is another reason a fixed percentage cannot responsibly be assigned to a particular SUV. A highly equipped Expedition may contribute considerably more profit than a cheaper vehicle in the same segment, while incentives and manufacturing costs can change the economics from one quarter to another.
What About the Ford Maverick?
The Maverick is an interesting case because its relatively low starting price might suggest that it produces very little profit. Ford does not provide enough information to calculate its actual margin.
However, vehicle profitability is not determined by MSRP alone. Shared components, manufacturing efficiency, option mix, incentives, production utilization, and customer demand all affect contribution margin.
The hybrid Maverick has also become strategically important to Ford as the company expands its hybrid lineup. It should therefore not automatically be classified as a low-profit vehicle simply because it costs less than an F-150.
Ford’s EV Margins Are a Completely Different Story
Ford Model e remains deeply in the red.
For full-year 2025, Model e reported $6.67 billion in revenue and a $4.806 billion EBIT loss, producing a negative 72.1% EBIT margin.
During the first half of 2026, Model e’s margin was negative 75.1%. In the second quarter alone, the business lost $919 million on approximately $1.026 billion of revenue.
Those numbers should not be interpreted as saying Ford loses 75% of the selling price of every Mustang Mach-E. Model e includes engineering, software development, manufacturing investments, battery-related costs, future vehicle programs, and other expenses in addition to the vehicles being sold today.
This is why dividing Model e’s total loss by the number of EVs sold can produce dramatic “loss per vehicle” figures that are not equivalent to the manufacturing loss on each individual vehicle.
Ford Profit Margins: 2025 vs. First Half of 2026
| Ford Business | Typical Vehicles | 2025 EBIT Margin | H1 2026 EBIT Margin |
|---|---|---|---|
| Ford Pro | Super Duty, Transit, commercial Ford vehicles | 10.3% | 10.5% |
| Ford Blue | F-150, Bronco, Explorer, Expedition, Maverick, Mustang and other ICE/hybrid vehicles | 3.0% | 6.2% |
| Ford Model e | Mustang Mach-E and first-generation Ford EV programs | -72.1% | -75.1% |
So Which Ford Models Make the Most Money?
Ford’s public financial statements do not allow an exact model-by-model ranking, but they do reveal the broad pattern.
- Super Duty and Transit sit inside Ford Pro, Ford’s highest-margin automotive business.
- F-150 and other F-Series trucks remain central to Ford’s traditional vehicle business and benefit from high-priced trims, options, and commercial demand.
- Bronco, Expedition, and Explorer contribute to the favorable product mix Ford has cited when discussing improved Ford Blue results.
- Maverick and other lower-priced vehicles cannot be assumed to have tiny margins simply from MSRP; Ford does not disclose their economics separately.
- Ford’s retail EV business remains loss-making as a whole, although segment losses include substantial costs beyond the vehicles currently being sold.
Why Doesn’t Ford Publish Profit by Model?
Vehicle economics are more complicated than subtracting factory cost from MSRP. Automakers have engineering costs, warranty reserves, tooling, factories, advertising, incentives, regulatory expenses, shipping, software development, and shared platforms that can serve several different models.
Ford also allocates sales according to both vehicle type and customer. The same truck can therefore affect Ford Blue or Ford Pro depending on the transaction.
Even internally, the profitability of an F-150 XL work truck can be very different from an F-150 Platinum or Raptor. Publishing one percentage for the entire model line would hide much of that variation.
The Bottom Line
There is no official Ford profitability percentage for each model. The most defensible numbers are Ford’s segment EBIT margins.
As of the first half of 2026, Ford Pro led the company’s automotive operations at a 10.5% EBIT margin, followed by Ford Blue at 6.2%. Ford Model e remained deeply unprofitable at -75.1%.
That makes Ford’s commercial trucks and vans the clearest publicly documented profit center. F-Series trucks, Bronco, Expedition, Explorer, and other higher-priced gasoline and hybrid vehicles also play important roles in Ford’s profits. But anyone quoting a precise profit margin for an individual F-150, Bronco, Mustang, or Super Duty is using an estimate rather than a number Ford actually reports.
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