Will a broken timing on ford ranger 2.3 dammage the engine?

A broken timing belt on a Ford Ranger 2.3L engine will almost certainly cause significant engine damage. Unlike interference engines where the pistons and valves occupy the same space, the 2.3L is an interference engine. This means that if the timing belt breaks, the pistons can collide with the valves, bending or breaking them. This will require a very expensive repair, possibly including replacing the head, valves, and other components. In short, yes, it will likely damage the engine severely.