In Q1'26, Ford's (F) total operating expenses reached $2.81B USD, driven entirely by SG&A expenses at $2.81B USD, as R&D expenses remained at no data across all periods. This marks a 5.7% increase from Q4'25's $2.97B USD total, reflecting ongoing administrative cost pressures without any R&D allocation. Over the period from Q2'23 to Q1'26, SG&A expenses exhibited stable volatility around $2.5B-$2.8B USD, with a slight upward trend in recent quarters (e.g., peaking at $2.98B USD in Q4'25) following a dip to $2.38B USD in Q1'24, while R&D consistently showed no data, indicating potential non-disclosure or zero investment in this breakdown. The stacked bar chart highlights SG&A as the dominant component of operating expenses, underscoring Ford's focus on sales, general, and administrative functions amid flat overall cost management. ## Key Financial Metrics | Quarter | SG&A Expenses (USD) | R&D Expenses (USD) | Total Operating Expenses (USD) | |---------|---------------------|--------------------|-------------------------------| | Q2'23 | $2.75B | No data | $2.75B | | Q3'23 | $2.67B | No data | $2.67B | | Q4'23 | $2.78B | No data | $2.78B | | Q1'24 | $2.38B | No data | $2.38B | | Q2'24 | $2.68B | No data | $2.68B | | Q3'24 | $2.46B | No data | $2.46B | | Q4'24 | $2.78B | No data | $2.78B | | Q1'25 | $2.43B | No data | $2.43B | | Q2'25 | $2.71B | No data | $2.71B | | Q3'25 | $2.74B | No data | $2.74B | | Q4'25 | $2.97B | No data | $2.97B | | Q1'26 | $2.81B | No data | $2.81B | ## Trend Insights - **Overall Trend**: SG&A expenses have been relatively stable with minor fluctuations, averaging approximately $2.66B USD quarterly, showing resilience in Ford's operational cost structure. - **Growth Patterns**: A notable 6.1% year-over-year increase from Q1'25 ($2.43B USD) to Q1'26 ($2.81B USD), potentially tied to inflationary pressures or expanded administrative activities. - **Decline Points**: Temporary drop in Q1'24 to $2.38B USD, possibly due to seasonal efficiencies or cost optimizations post-2023 highs. - **R&D Absence**: Consistent lack of R&D data across 12 quarters suggests it may be reported separately or minimal, warranting further investigation in Ford's full financials for innovation spending insights.