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Ferrari N.V.

RACE Consumer Cyclical Auto Manufacturers

Ferrari N.V.’s revenue for fiscal 2025 (year ended December 2025) was $8.1 billion, up 11.9% from fiscal 2024.

Revenue
+5.72%
EPS
+12.8%
Free cash flow
+30.0%
Total debt
+7.09%

Quarter to September 2026, against a year earlier

424.09 8.36 −1.93%
Market cap
$67.3B
P/E
38.2×
Fwd P/E
36.0×
Dividend yield
1.00%
F-score
8/9
Altman Z
8.63
Beneish M
−2.77
Dividend safety
88/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 39.33%

Capital & Financial Ratios $m

Size
Market Cap 67,280.00
Revenue ttm 8,703.05
Net income ttm 1,888.87
Free cash flow ttm 1,783.89
Net debt Q 1,567.84
Valuation
P/E 38.24 (above 35: high)
Forward P/E 36.00 (above 35: high)
Price / sales 8.56
Forward P/S Powerpack
Price / FCF 41.78
Price / book 16.53 (above 6: high)
Financial health
Current ratio Q 4.94 (at or above 1.5: strong)
Debt / equity Q 0.80
Interest coverage Q —
Growth
Revenue growth Q +5.72% (above 0%: growing)
Operating income growth Q +10.43% (above 0%: growing)
EPS, this year +4.37%
EPS, next year A +12.28%
Revenue, next year A +4.97%
EPS, past 5 yrs +21.99% (at or above 15%: strong)
EPS, next 5 yrs A +8.71%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 8.7×, against a ten-year median of 7.9×; over the ten years it ranged from 3.0× in 2016 to 13.3× in 2024.
P/E against its own 10 years 45.95%
10-year low 10-year high
P/S against its own 10 years 61.50%
10-year low 10-year high
P/B against its own 10 years 26.40%
10-year low 10-year high
EV/Sales against its own 10 years 60.18%
10-year low 10-year high
EV/FCF against its own 10 years 23.21%
10-year low 10-year high

Dividends raised 5 years running

Yield
1.00%
Annual rate
4.26
Payout ratio
38.4%
Growth, 2018–26
+21.9%/yr
  1. 0.87 ’18
  2. 1.16 ’19 +33
  3. 1.23 ’20 +6
  4. 1.04 ’21 −15
  5. 1.47 ’22 +41
  6. 1.99 ’23 +35
  7. 2.60 ’24 +31
  8. 3.38 ’25 +30
  9. 4.26 ’26 +26
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,280 1,912 1,749 2,025
Receivables 1,866 2,193 2,269 2,596
Inventory 1,027 1,178 1,260 1,432
Other 141 149 180 175
4,314 5,432 5,458 6,229
2023 2024 2025 Q'26
Payables 1,007 1,023 952 1,029
ST’ Debt — — — —
Other — — — —
1,104 1,064 957 1,260

Compound Annual Growth %

10y 5y 3y
Sales 9.82% 15.39% 14.62%
Cash Flow 12.97% 22.65% 21.59%
Earnings 18.91% 21.08% 22.51%
Book Value 0.00% 16.73% 17.33%

Earnings Trends EPS, adjusted, against the consensus

Sep 2026 Estimate 2.66 Actual 2.81

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2025 2.44 2.49 Beat by 0.05
Mar 2026 2.70 2.73 Beat by 0.03
Jun 2026 2.83 3.05 Beat by 0.22
Sep 2026 2.66 2.81 Beat by 0.15
Dec 2026 2.82 — Reports 9 February 2027

EPS $

Mar Jun Sep Dec Year
’26 2.73 3.05 2.82 — —
’25 2.42 2.70 2.50 2.49 10.13
’24 2.12 2.46 2.29 2.28 9.16
’23 1.74 1.99 1.98 1.74 7.47
’22 1.45 1.45 1.24 1.24 5.36
’21 1.34 1.34 1.31 1.33 5.32
’20 0.99 0.04 1.08 1.68 3.75
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,163 2,253 2,183 — —
’25 1,887 2,029 2,064 2,104 8,085
’24 1,720 1,844 1,808 1,852 7,225
’23 1,534 1,607 1,681 1,640 6,461
’22 1,331 1,374 1,259 1,404 5,368
’21 1,219 1,246 1,242 1,345 5,053
’20 1,028 629 1,038 1,257 3,952
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,011 501 833 — —
’25 892 517 730 519 2,658
’24 548 336 691 511 2,085
’23 422 328 544 564 1,858
’22 463 142 374 499 1,479
’21 330 299 463 424 1,518
’20 290 (74) 283 458 957
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 715 229 578 — —
’25 656 228 445 262 1,591
’24 337 48 406 225 1,017
’23 263 109 323 225 920
’22 317 (28) 191 151 631
’21 150 100 247 154 651
’20 99 (220) 78 192 149
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,436 3,862 4,039 4,219 3,952 5,053 5,368 6,461 7,225 8,085 8,703 +10.0% 8,487 9,182 9,777 +6.5%
Gross margin, % 49.13 51.69 52.55 52.07 51.26 51.28 48.01 49.82 50.13 51.68 52.20 +2.6 pt
EBT 628 843 948 980 762 1,233 1,241 1,734 2,044 2,335 2,558 +15.7%
EBT margin, % 18.27 21.84 23.48 23.24 19.28 24.40 23.11 26.84 28.29 28.88 29.39 +10.6 pt
Net income 628 843 948 980 762 1,233 1,241 1,361 1,651 1,810 1,889 +12.5%
Per share, $
Per share, $ Revenue 18.19 20.44 21.42 22.59 21.39 27.40 29.36 35.66 40.20 45.39 49.53 +10.7%
Earnings 2.34 3.19 4.91 4.18 3.76 5.32 5.38 7.48 9.17 10.14 11.09 +17.7%
Cash flow 5.89 3.96 5.85 7.83 5.18 8.23 8.09 10.25 11.60 14.92 16.29 +10.9%
Capex (1.99) (2.32) (3.99) (4.20) (4.38) (4.70) (4.63) (5.17) (5.94) (5.99) (6.14) +13.0%
Free cash flow 3.90 1.65 1.86 3.63 0.80 3.53 3.45 5.08 5.66 8.93 10.15 +9.6%
Book value 1.93 4.69 8.48 8.92 11.06 14.18 15.00 18.34 21.33 24.87 25.66 +32.8%
Shares, m 189 189 189 187 185 184 183 181 180 178 177 (0.7%)
Valuation, ×
Valuation, × P/E 25.30 32.76 20.34 39.79 60.08 48.56 39.88 45.09 46.43 36.55 38.24 39.5
P/S 3.24 5.14 4.64 7.33 10.73 9.45 7.34 9.47 10.57 8.14 8.56 7.6
P/B 30.51 22.42 11.73 18.56 20.75 18.25 14.36 18.42 19.92 14.86 16.53 19.0
EV/Sales 3.68 5.48 4.97 7.64 11.11 9.75 7.60 9.69 10.81 8.33 8.74 7.9
EV/FCF 17.17 68.06 57.23 47.58 295.39 75.68 64.59 68.03 76.80 42.32 42.66 81.3
Cash, $m
Cash, $m Operating cash flow 1,112 749 1,103 1,463 957 1,518 1,479 1,858 2,085 2,658 2,863 +10.2%
Capex (375) (438) (752) (785) (809) (867) (847) (938) (1,068) (1,067) (1,079) +12.3%
Free cash flow 737 311 351 678 149 651 631 920 1,017 1,591 1,784 +8.9%
Balance, $m
Balance, $m Working capital 1,362 1,633 2,145 2,153 2,680 2,902 3,151 3,210 4,368 4,501 4,968 +14.2%
Net debt 1,520 1,292 1,327 1,322 1,510 1,505 1,407 1,401 1,715 1,514 1,568 0.0%
Shareholders’ equity 365 886 1,599 1,666 2,044 2,616 2,742 3,323 3,834 4,429 4,510 +32.0%
Returns, %
Returns, % ROA 10.31 13.54 17.80 13.18 10.48 12.87 12.05 16.04 17.34 17.07 16.99 +6.8 pt
ROIC 21.83 25.15 20.85 21.49 14.38 19.29 19.48 23.16 23.01 25.10 26.68 +3.3 pt
ROE 256.99 96.74 74.58 47.74 37.43 42.18 36.68 44.68 46.02 43.73 43.93 (213.3) pt
People
People Employees 3,248 3,380 3,851 4,285 4,556 4,609 4,919 4,988 5,435 5,718 — +6.5%
Revenue/emp, $m 1.06 1.14 1.05 0.98 0.87 1.10 1.09 1.30 1.33 1.41 — +3.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Ferrari N.V. vs peers in Auto Manufacturers (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TM Toyota Motor Corporation $258.3B 9.4× 9.8× +4.07% (above 0%: growing) +11.16% (above 0%: growing) −702.74% (below 0%: shrinking) 18.03% 7.86% Compare
GM General Motors Company $75.4B 19.8× 8.1× +2.93% (above 0%: growing) +176.64% (above 0%: growing) −0.06% (below 0%: shrinking) 11.25% 7.19% Compare
RACE Ferrari N.V. $67.3B 38.2× 36.0× +5.72% (above 0%: growing) +12.78% (above 0%: growing) +29.99% (above 0%: growing) 52.41% 29.70%
F Ford Motor Company $50.0B — (loss-making) 13.6× −1.99% (below 0%: shrinking) −15.82% (below 0%: shrinking) −40.46% (below 0%: shrinking) 14.90% 2.94% Compare
HMC Honda Motor Co., Ltd. $47.1B 6.4× 11.4× +4.19% (above 0%: growing) +105.66% (above 0%: growing) +20.08% (above 0%: growing) 22.24% 8.76% Compare
RIVN Rivian Automotive, Inc. $19.4B — (loss-making) — (loss-making) +38.32% (above 0%: growing) n/m −166.98% (below 0%: shrinking) 8.17% (40.88%) Compare
STLA Stellantis N.V. $12.9B 1.2× 10.0× −55.57% (below 0%: shrinking) n/m −45.33% (below 0%: shrinking) 9.10% (0.55%) Compare
LI Li Auto Inc. Sponsored ADR $10.2B — (loss-making) — (loss-making) −10.40% (below 0%: shrinking) n/m +291.23% (above 0%: growing) 11.05% (8.96%) Compare
NIO NIO Inc. $7.6B — (loss-making) — (loss-making) +78.50% (above 0%: growing) n/m +38.68% (above 0%: growing) 18.38% (1.08%) Compare
Median of peers $33.2B 7.9× 10.0× +3.50% +58.41% −20.26% 13.08% 1.19%

All 28 Auto Manufacturers stocks →

Ferrari N.V. (RACE) Latest News

4 Nov

Impact 3 · · Benzinga
Impact 3 · · MarketBeat transcript

3 Nov

Impact 3 · · The Motley Fool
Impact 3 · · Moby
Impact 3 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com
Impact 3 · · TechCrunch
Impact 3 · · Investing.com
Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · GlobeNewswire

27 Oct

Impact 3 · · Zacks

21 Oct

Impact 4 · · GlobeNewswire

19 Oct

Impact 3 · · GlobeNewswire

16 Oct

Impact 3 · · GlobeNewswire

13 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.

12 Oct

Impact 3 · · GlobeNewswire
Impact 3 · · GlobeNewswire

8 Oct

Impact 3 · · Simply Wall St.

7 Oct

Impact 4 · · Investing.com

5 Oct

Impact 3 · · Proactive Investors
Impact 3 · · GlobeNewswire

3 Oct

Impact 3 · · Insider Monkey

30 Sep

Impact 3 · · The Motley Fool

29 Sep

Impact 3 · · GuruFocus.com

28 Sep

Impact 4 · · GlobeNewswire

26 Sep

Impact 3 · · The Motley Fool

25 Sep

Impact 3 · · Simply Wall St.

24 Sep

Impact 3 ·

RACE metrics, ten years each

stockrow.com/RACE · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com