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. In the quarter to June 2026, revenue grew 11.0%, EPS grew 13.0%, free cash flow was flat and total debt rose 2.67%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five, operating cash flow growth for three.

396.60 1.64 −0.41%
Market cap
$63.4B
P/E
36.8×
Fwd P/E
31.3×
Dividend yield
1.07%
F-score
8/9
Altman Z
8.63
Beneish M
−2.77
Dividend safety
88/100

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 39.50%

Capital & Financial Ratios $m

Market Cap 63,430.00
Revenue 8,584.97
Net Income 1,878.06
Free Cash Flow 1,650.56
Net Debt 1,926.47
Current Ratio 4.85 (at or above 1.5: strong)
Debt/Equity 0.86
P/E ratio 36.82 (above 35: high)
Fwd P/E 31.30
P/S ratio 8.14
P/B ratio 16.40 (above 6: high)
Past 5Y EPS Growth 21.99% (at or above 15%: strong)
This Y EPS Growth 5.53%
Next Y EPS Growth 12.07%
Next Y revenue growth 6.15%
Next 5Y EPS Growth 8.96%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 39.07%
10-year low 10-year high
P/S against its own 10 years 56.40%
10-year low 10-year high
P/B against its own 10 years 25.07%
10-year low 10-year high
EV/Sales against its own 10 years 55.99%
10-year low 10-year high
EV/FCF against its own 10 years 23.81%
10-year low 10-year high

Dividends

Payout Ratio 0.40
Annual Dividend Rate 4.26
Annual Dividend Yield 1.07%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 4.26
4.26
2025 3.38
3.38
2024 2.60
2.60
2023 1.99
1.99
2022 1.47
1.47
2021 1.04
1.04
2020 1.23
1.23
2019 1.16
1.16
2018 0.87
0.87
2017 0.69
0.69
2016 0.52
0.52
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,280 1,912 1,749 1,754
Receivables 1,866 2,193 2,269 2,650
Inventory 1,027 1,178 1,260 1,442
Other 141 149 180 219
4,314 5,432 5,458 6,065
2023 2024 2025 Q'26
Payables 1,007 1,023 952 1,152
ST’ Debt — — — —
Other — — — —
1,104 1,064 957 1,250

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%

Revenue $m

Mar Jun Sep Dec Year
’26 2,163 2,253 — — —
’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 — — —
’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 — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 2.73 3.05 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 31.66 57.56 93.85 96.62 127.73 183.82 167.45 213.97 330.16 356.93

Analyst estimates 2026–2028

Powerpack
High 58.86 121.14 149.85 172.89 233.66 278.78 271.95 372.42 498.23 519.10
People
People Employees 3,248 3,380 3,851 4,285 4,556 4,609 4,919 4,988 5,435 5,718
Revenue/emp, $m 1.06 1.14 1.05 0.98 0.87 1.10 1.09 1.30 1.33 1.41
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
Gross margin, % 49.13 51.69 52.55 52.07 51.26 51.28 48.01 49.82 50.13 51.68
EBT 628 843 948 980 762 1,233 1,241 1,734 2,044 2,335
EBT margin, % 18.27 21.84 23.48 23.24 19.28 24.40 23.11 26.84 28.29 28.88
Net income 628 843 948 980 762 1,233 1,241 1,361 1,651 1,810
Depreciation 274 295 341 394 487 539 576 717 722 749
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
Earnings 2.34 3.19 4.91 4.18 3.76 5.32 5.38 7.48 9.17 10.14
Cash flow 5.89 3.96 5.85 7.83 5.18 8.23 8.09 10.25 11.60 14.92
Capex (1.99) (2.32) (3.99) (4.20) (4.38) (4.70) (4.63) (5.17) (5.94) (5.99)
Free cash flow 3.90 1.65 1.86 3.63 0.80 3.53 3.45 5.08 5.66 8.93
Book value 1.93 4.69 8.48 8.92 11.06 14.18 15.00 18.34 21.33 24.87
Shares, m 189 189 189 187 185 184 183 181 180 178
Valuation, ×
Valuation, × P/E 25.30 32.76 20.34 39.79 60.08 48.56 39.88 45.09 46.43 36.55
P/S 3.24 5.14 4.64 7.33 10.73 9.45 7.34 9.47 10.57 8.14
P/B 30.51 22.42 11.73 18.56 20.75 18.25 14.36 18.42 19.92 14.86
EV/Sales 3.68 5.48 4.97 7.64 11.11 9.75 7.60 9.69 10.81 8.33
EV/FCF 17.17 68.06 57.23 47.58 295.39 75.68 64.59 68.03 76.80 42.32
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
Capex (375) (438) (752) (785) (809) (867) (847) (938) (1,068) (1,067)
Free cash flow 737 311 351 678 149 651 631 920 1,017 1,591
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
Total debt 2,045 2,042 2,276 2,341 3,112 3,112 2,962 2,681 3,627 3,263
Net debt 1,520 1,292 1,327 1,322 1,510 1,505 1,407 1,401 1,715 1,514
Shareholders’ equity 365 886 1,599 1,666 2,044 2,616 2,742 3,323 3,834 4,429
Returns, %
Returns, % ROA 10.31 13.54 17.80 13.18 10.48 12.87 12.05 16.04 17.34 17.07
ROIC 21.83 25.15 20.85 21.49 14.38 19.29 19.48 23.16 23.01 25.10
ROE 256.99 96.74 74.58 47.74 37.43 42.18 36.68 44.68 46.02 43.73
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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 $227.3B 8.3× 9.2× +4.07% (above 0%: growing) +11.16% (above 0%: growing) −702.74% (below 0%: shrinking) 18.03% 7.86% Compare
GM General Motors Company $73.4B 40.4× 6.9× +1.92% (above 0%: growing) −25.77% (below 0%: shrinking) −7.52% (below 0%: shrinking) 7.61% 3.04% Compare
RACE Ferrari N.V. $63.4B 36.8× 31.3× +11.03% (above 0%: growing) +12.96% (above 0%: growing) +0.50% (above 0%: growing) 52.59% 31.22%
F Ford Motor Company $49.1B — (loss-making) 23.0× −3.76% (below 0%: shrinking) n/m −53.58% (below 0%: shrinking) 12.59% 1.32% Compare
HMC Honda Motor Co., Ltd. $44.2B 6.0× 15.7× +4.19% (above 0%: growing) +105.66% (above 0%: growing) +20.08% (above 0%: growing) 22.24% 8.76% Compare
RIVN Rivian Automotive, Inc. $18.9B — (loss-making) — (loss-making) +27.24% (above 0%: growing) n/m −113.32% (below 0%: shrinking) 10.80% (50.42%) Compare
STLA Stellantis N.V. $12.6B 0.6× 12.1× −44.85% (below 0%: shrinking) −96.94% (below 0%: shrinking) −164.34% (below 0%: shrinking) 10.98% 2.26% Compare
LI Li Auto Inc. Sponsored ADR $9.8B — (loss-making) — (loss-making) −10.40% (below 0%: shrinking) n/m +291.23% (above 0%: growing) 11.05% (8.96%) Compare
NIO NIO Inc. $8.3B — (loss-making) — (loss-making) +78.50% (above 0%: growing) n/m +38.68% (above 0%: growing) 18.38% (1.08%) Compare
Median of peers $31.5B 7.2× 12.1× +2.99% −7.30% −30.55% 11.82% 1.79%

All 41 Auto Manufacturers stocks →

Ferrari N.V. (RACE) key facts

  • Strength: Ferrari N.V.’s revenue for fiscal 2025 (year ended December 2025) was $8.1 billion, up 11.9% from fiscal 2024.
  • Strength: Net income was $1.8 billion, or $10.14 per share (basic), a net margin of 22.4%.
  • Ferrari N.V. (RACE) is an Auto Manufacturers company in the Consumer Cyclical sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, RACE traded at $396.60, a market capitalization of $63.4 billion.
  • At that price the stock trades at 36.8× trailing-twelve-month earnings and 8.1× sales; its P/E is higher than 39% of its own readings over the past ten years.
  • Ferrari N.V. pays an annual dividend of $4.26 per share, a yield of 1.07%, with a payout ratio of 39.6%.
  • Return on equity was 43.7% and debt-to-equity 0.86.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 8.63 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Ferrari N.V. (RACE) Latest News

31 Jul

stockrow.com/RACE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com