Ferrari N.V. (RACE) stock analysis

RACENYSEMotor Vehicles & Passenger Car BodiesFiscal year ends December 31

Financials through fiscal 2025, year ended Dec 31, 2025Score 11/30

$415.76+0.03 (+0.01%)

Close on Nov 11, 2026Market cap $97.26BP/E 41.6Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Mixed11 of 30 checks passed

Ferrari passes 11 of the 30 checks behind our score; 17 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation: 0/6
Growth: 4/6
Past performance: 6/6
Financial health: 1/6
Dividend: 0/6

What stands out

Return on equity over 15%
Return on equity was 42.9% over the last twelve months and averaged 42.8% over five years.
Return on capital over 10%
Return on invested capital was 77.3%, above the 10% that usually covers the cost of capital.
Earnings grew over 5 years
Net income grew 21.3% a year on average over the last five fiscal years.
Revenue growing 10%+ a year
Revenue grew 11.9% a year over the last three fiscal years.

What to watch

Earnings growth not accelerating
Net income grew 4.9% over the last twelve months, against a 5-year average of 21.3% a year.
No dividend
Ferrari has not paid a dividend in the last twelve months.

Valuation0/6

P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.

Growth4/6

Revenue growing 10%+ a year
Revenue grew 11.9% a year over the last three fiscal years.
EPS growing 10%+ a year
Diluted EPS grew 20.7% a year over the last three fiscal years.
Earnings growth not accelerating
Net income grew 4.9% over the last twelve months, against a 5-year average of 21.3% a year.
Growing faster than the industry
Revenue grew 7.0% over the last twelve months; the Motor Vehicles and Motor Vehicle Equipment median is 5.5%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin improving
Gross margin was 51.7% over the last twelve months, against 50.1% a year earlier.

Past performance6/6

Return on equity over 15%
Return on equity was 42.9% over the last twelve months and averaged 42.8% over five years.
Return on capital over 10%
Return on invested capital was 77.3%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
Ferrari's return on equity of 42.9% is above the Motor Vehicles and Motor Vehicle Equipment median of 3.5%.
Earnings grew over 5 years
Net income grew 21.3% a year on average over the last five fiscal years.
Net margin above its 5-year average
Net margin was 22.3% over the last twelve months, against a 5-year average of 20.8%.
Net margin above the industry
Ferrari's net margin of 22.3% is above the Motor Vehicles and Motor Vehicle Equipment median of 1.9%.

Financial health1/6

Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt coverage
Needs operating cash flow.
Interest well covered
Operating income covers interest expense 9.8 times.
Short-term liquidity
The balance sheet is not split into current and non-current items.
Bankruptcy risk (Altman Z)
Needs market value, working capital and retained earnings.

Dividend0/6

No dividend
Ferrari has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.

Scores of similar companies

Fair value

How we estimate it

We don't publish a fair value for Ferrari. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day: $187.72M
Value traded per 1% price move: $146.33M

Downside

Low risk

Typical loss in a bad month: 14.0%
Volatility (annualized): 32%
Sharpe ratio, 1 year: -0.11
Beta to the S&P 500 (5Y): 0.97

Typical bad-month loss, week by week

Margins

Share of revenue, fiscal years 2014 to 2025

Gross margin

51.7%+0.4 pts over 5 years

Operating margin

29.5%+8.8 pts over 5 years

Net margin

22.3%+4.8 pts over 5 years

Growth rates

Compound annual growth to fiscal 2025

Per year	1 year	3 years	5 years	10 years
Revenue	+7.0%	+11.9%	+15.6%	+9.6%
Gross profit	+10.3%	+14.7%	+15.8%	+10.5%
Operating income	+11.8%	+19.8%	+24.1%	+16.9%
Net income	+4.9%	+19.6%	+21.3%	+18.7%
EPS, diluted	+5.9%	+20.7%	+22.3%	+19.4%
Free cash flow	+29.1%	+20.9%	+31.1%	+13.6%

Returns and balance sheet

10 fiscal years. Hover a measure to see how it is calculated.

Measure	FY2016	FY2020	FY2025
Return on equity	–	37.2%	42.9%
Return on assets	–	10.4%	16.7%
Interest coverage	12.8×	12.1×	9.8×
Inventory turnover	–	3.8×	3.1×
Capex to revenue	5.7%	10.3%	6.8%
Diluted shares	189M	185M	178M

DuPont analysis

Return on equity split into margin, efficiency and leverage

Net margin22.3%

Asset turnover0.75×

Equity multiplier2.57×

Return on equity, FY202542.9%

Fiscal year	Net margin	Asset turnover	Equity multiplier	Return on equity
FY2025	22.3%	0.75×	2.57×	42.9%
FY2024	22.8%	0.76×	2.66×	46.2%
FY2023	21.0%	0.75×	2.80×	44.3%
FY2022	18.3%	0.70×	3.05×	38.9%
FY2021	19.5%	0.65×	3.29×	41.6%
FY2020	17.6%	0.59×	3.58×	37.2%
FY2019	18.5%	0.73×	3.64×	49.2%
FY2018	22.9%	0.76×	4.23×	73.8%
FY2017	15.7%	0.86×	7.24×	97.0%