Ferrari N.V.
- Open
- 417.55
- Day high
- 419.35
- Day low
- 415.49
- Prev close
- 413.23
- Volume
- 28K
- Mkt cap
- $80.1B
- P/E (TTM)
- 38.8
- EPS (TTM)
- $10.72
- P/B
- 18.9
- P/S
- 9.4
- Yield
- 2.04%
- Per share
- $8.51
Ferrari N.V. (RACE) is a Consumer Cyclical company listed on NYSE. The stock is down 16% over the past year. Drillr has 1 published research article covering RACE.
Ferrari N.V. (RACE) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RACE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $2.83 | $2.99 | +5.7% | $2.2B | +3.5% |
| May 5, 2026 | $2.70 | $2.73 | +1.1% | $2.1B | +0.9% |
| Nov 4, 2025 | $2.35 | $2.50 | +6.4% | $2.1B | -0.7% |
| Jul 31, 2025 | $2.57 | $2.70 | +5.1% | $2.1B | +8.3% |
| Feb 4, 2025 | $1.89 | $2.28 | +20.6% | $1.8B | -2.1% |
| Aug 1, 2024 | $2.26 | $2.50 | +10.6% | $1.8B | -5.7% |
| Feb 1, 2024 | $1.61 | $1.75 | +8.5% | $1.7B | +0.1% |
| Nov 2, 2023 | $1.70 | $1.94 | +13.8% | $1.6B | +5.0% |
| Aug 2, 2023 | $1.84 | $2.01 | +9.2% | $1.6B | -0.2% |
| May 4, 2023 | $1.60 | $1.79 | +11.9% | $1.6B | +3.9% |
| Feb 2, 2023 | $1.27 | $1.31 | +3.1% | $1.5B | +7.0% |
| Nov 2, 2022 | $1.16 | $1.21 | +4.3% | $1.2B | +4.3% |
Ferrari N.V. company profile
Overview
Ferrari N.V. (NYSE:RACE) is an Italian luxury sports car manufacturer founded in 1947 by Enzo Ferrari in Maranello, Italy. Originally established as a racing team, the company evolved into one of the world's most prestigious automotive brands, known for producing high-performance sports cars that combine cutting-edge engineering with Italian craftsmanship. Ferrari went public in 2015 following its spin-off from Fiat Chrysler Automobiles. Today, the company operates as a luxury lifestyle brand that extends far beyond automotive manufacturing, encompassing racing, branded merchandise, theme parks, and exclusive client experiences while maintaining its core identity as a producer of some of the world's most coveted supercars.
Business
Ferrari operates in the ultra-luxury automotive segment, designing, engineering, and manufacturing high-performance sports cars that typically range from $200,000 to over $500,000, with limited-edition models commanding significantly higher prices. The company's core business revolves around three main vehicle categories: sports cars (such as the 296 series), grand touring (GT) cars (like the Roma and Portofino models), and special series vehicles including limited-production hypercars and track-only models. The automotive industry Ferrari competes in is characterized by extreme exclusivity, with the company intentionally limiting production to maintain scarcity and brand prestige. Unlike mass-market automakers that prioritize volume, Ferrari focuses on craftsmanship, performance, and exclusivity. Each Ferrari is essentially a hand-built machine featuring advanced aerodynamics, powerful engines, and extensive personalization options. Ferrari's business segments include: 1. Automotive manufacturing (~85% of revenue): Production and sale of luxury sports cars, including internal combustion engine (ICE), hybrid, and upcoming electric vehicles. The company produces approximately 13,000-15,000 vehicles annually across multiple model lines. 2. Racing activities (~8% of revenue): Participation in Formula 1, World Endurance Championship, and other motorsport series, along with manufacturing racing cars for customer teams and providing technical support. 3. Brand and lifestyle (~7% of revenue): Licensing the Ferrari brand for luxury goods, operating Ferrari-branded retail stores, managing theme parks (Ferrari World in Abu Dhabi and Ferrari Land in Spain), and running museums in Italy. The company has been transitioning toward electrification, with hybrid vehicles representing over 50% of deliveries by 2024, while maintaining what it calls "technological neutrality" across ICE, hybrid, and electric powertrains to meet diverse customer preferences.
Revenue model
Ferrari generates revenue through multiple complementary channels, with automotive sales forming the core of its business model. The company sells vehicles directly through a network of 172 authorized dealers operating 191 points of sale worldwide, maintaining strict control over the customer experience and brand presentation. The primary revenue driver is vehicle sales, where Ferrari employs a premium pricing strategy enhanced by extensive personalization options. Customers can customize virtually every aspect of their vehicle, from paint colors and interior materials to performance specifications, with personalization accounting for approximately 20% of total car and spare parts revenues. This high-margin customization business significantly boosts profitability beyond the base vehicle price. After-sales services provide recurring revenue through maintenance, repair, restoration services, and genuine spare parts sales. Given the complexity and specialized nature of Ferrari vehicles, owners typically return to authorized service centers, creating a captive customer base for ongoing services. The company also monetizes its brand through licensing agreements for luxury goods, fashion, and lifestyle products, generating royalty income without direct manufacturing investment. Racing activities contribute both through prize money and sponsorship deals, while also serving as a marketing platform that enhances the brand's performance credentials. Several factors influence Ferrari's margins positively: the ultra-luxury positioning allows premium pricing with relatively inelastic demand; high personalization rates drive margin expansion; limited production creates scarcity value; and strong brand loyalty reduces customer acquisition costs. Conversely, margin pressures can arise from: rising raw material costs (aluminum, carbon fiber, rare earth elements for electric components); increased regulatory compliance costs for emissions and safety standards; currency fluctuations affecting international sales; and potential economic downturns impacting luxury spending, though Ferrari's wealthy customer base provides some insulation from broader economic cycles.
Competitive moat
Ferrari possesses one of the strongest brand moats in the luxury goods sector, built around decades of racing heritage, exclusivity, and emotional connection with affluent consumers. The company's competitive advantages are multifaceted and deeply entrenched. The brand heritage and racing pedigree creates an emotional moat that competitors cannot easily replicate. Ferrari's Formula 1 success, Le Mans victories, and seven decades of motorsport excellence have established the prancing horse as a symbol of performance and prestige that transcends mere transportation. This heritage justifies premium pricing and creates customer loyalty that borders on fanaticism. Artificial scarcity through production limits maintains exclusivity and supports pricing power. Ferrari deliberately constrains production to approximately 13,000-15,000 vehicles annually, ensuring demand consistently exceeds supply. This scarcity model creates waiting lists extending years into the future and supports strong residual values, making Ferrari ownership both exclusive and financially attractive. The company's customer ecosystem and loyalty programs create switching costs beyond the monetary investment. Ferrari maintains detailed customer relationships, offering exclusive events, track days, and first access to limited-edition models. Approximately 81% of new car sales go to existing Ferrari clients, with 48% sold to customers owning multiple Ferraris, demonstrating extraordinary customer retention. Technological expertise in high-performance engineering provides a technical moat, particularly in areas like aerodynamics, lightweight materials, and powertrain development. The company's racing activities serve as a continuous R&D laboratory, with innovations flowing from track to road cars. However, potential threats include the electric vehicle transition, where new entrants like Tesla, Lucid, and Rimac could challenge Ferrari's performance leadership. Additionally, changing consumer preferences among younger wealthy buyers who may prioritize sustainability over traditional luxury could pose long-term risks. Regulatory pressures around emissions and noise restrictions in urban areas might also constrain the appeal of traditional high-performance ICE vehicles. Despite these challenges, Ferrari's brand strength and customer loyalty provide substantial protection against disruption.
Risks & safety
Ferrari demonstrates a strong financial position with robust margins of safety across multiple metrics. Overall Assessment: Ferrari maintains excellent financial health with strong cash generation, manageable debt levels, and premium valuation metrics reflecting its luxury positioning. Liquidity and Solvency: - Cash and short-term investments: €1.8 billion (Q1 2025) - Current ratio: 2.95x indicating strong short-term liquidity - Debt-to-equity ratio: 0.93x representing moderate leverage - Strong free cash flow generation: €683 million in Q1 2025 alone - Industrial free cash flow consistently exceeds €600 million quarterly Valuation Metrics: - P/E ratio: 42.9x reflecting premium luxury brand valuation - EV/EBITDA: 26.0x appropriate for high-margin luxury business - Price-to-book ratio: 19.8x elevated but typical for asset-light luxury brands - ROE: 11.5% demonstrating efficient capital utilization Other Considerations: - Order book extends through 2026, providing revenue visibility - Recession-resistant customer base of ultra-high net worth individuals - Strong pricing power and margin expansion capability through personalization - Geographic diversification reduces single-market dependency
Recent development
Ferrari has undergone significant strategic evolution over the past few years, positioning itself for the automotive industry's electrification transition while maintaining its performance heritage. The company has embraced what it calls "technological neutrality," committing to offering internal combustion engine, hybrid, and fully electric powertrains to meet diverse customer preferences. Electrification Strategy: Ferrari has aggressively expanded its hybrid offerings, with hybrid vehicles representing 51% of total deliveries in 2024, up from 22% in 2022. The company built a new E-building facility specifically for flexible production of hybrid and electric vehicles, while internalizing critical electric components including battery modules, electric axles, and inverters. The highly anticipated first fully electric Ferrari will be revealed in October 2025, with deliveries beginning in late 2026. Product Portfolio Expansion: The company launched multiple significant models including the Purosangue SUV (limited to 20% of annual production), the F80 hypercar (limited to 799 units), and the 12Cilindri series. These launches demonstrate Ferrari's strategy of expanding into new segments while maintaining exclusivity through production limits. Personalization and Customer Experience: Ferrari has significantly enhanced its personalization capabilities, with custom options now representing approximately 20% of total car and spare parts revenues. The company has invested heavily in customer experience through exclusive events, expanded museum offerings, and direct customer engagement programs. Sustainability Initiatives: Ferrari committed to achieving carbon neutrality by 2030, implementing renewable energy sources that reduced CO2 emissions by 60% in recent years. The company has also focused on sustainable materials and manufacturing processes while maintaining performance standards. Geographic Strategy: Ferrari has strategically reduced its exposure to China (now 9% of shipments versus higher levels previously) while strengthening positions in EMEA and Americas markets, which now represent 75% of total shipments.
RACE company profile · for informational purposes only — not investment advice.
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