F – Market expectations are for Uniform ROA to fall, but management is confident about their business transformation and international expansion

• Ford Motor Company (F:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 17.1x Uniform P/E. At these levels, markets are pricing in bearish expectations for the firm, but management is confident about their business transformation and international expansion
• Specifically, management is confident they are transforming into a more agile, customer-centric firm, and they generated multiple highly confident markers about their profitability growth in China. Furthermore, they are confident their joint venture with Mahindra will drive profitability in India.