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Ferrari N.V.

RACE

Ferrari N.V. • NYSE
$391.90 ▲ 2.38% (+9.10)
Market Cap $69.98 B
52w High $519.10
52w Low $372.31
Dividend Yield 3.44%
P/E 37.72
Volume 346.43K
Outstanding Shares 178.55M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.766B ▼ $382.504M ▼ $381.324M ▼ 21.591% ▼ $2.14 ▼ $569.937M ▼
Q2-2025 $1.788B ▼ $384.961M ▲ $424.266M ▲ 23.734% ▲ $2.38 ▲ $711.087M ▲
Q1-2025 $1.791B ▲ $381.86M ▼ $411.643M ▲ 22.987% ▲ $2.3 ▲ $689.591M ▲
Q4-2024 $1.736B ▲ $405M ▲ $384.712M ▲ 22.167% ▼ $2.14 ▲ $657.827M ▲
Q3-2024 $1.644B $347.419M $374.173M 22.754% $2.08 $647.7M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.539B ▲ $9.482B ▼ $5.712B ▼ $3.774B ▲
Q2-2025 $1.526B ▼ $9.651B ▼ $6.104B ▼ $3.542B ▼
Q1-2025 $1.923B ▲ $9.913B ▲ $6.338B ▲ $3.57B ▲
Q4-2024 $1.748B ▲ $9.497B ▲ $5.954B ▲ $3.534B ▲
Q3-2024 $1.537B $8.989B $5.645B $3.337B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $381.324M ▼ $588.335M ▲ $-230.475M ▲ $-458.125M ▲ $-99.833M ▲ $472.642M ▲
Q2-2025 $425.096M ▲ $394.897M ▼ $-238.675M ▼ $-544.152M ▼ $-396.334M ▼ $155.911M ▼
Q1-2025 $412.051M ▲ $846.917M ▲ $-224.233M ▲ $-446.093M ▼ $172.574M ▼ $623.13M ▲
Q4-2024 $385.504M ▲ $495.019M ▼ $-275.706M ▼ $-11.844M ▲ $213.524M ▲ $217.941M ▼
Q3-2024 $374.913M $611.221M $-249.052M $-163.275M $196.559M $486.339M

Five-Year Company Overview

Income Statement

Income Statement Ferrari’s income statement shows a business that has grown steadily while becoming more profitable. Sales have climbed year after year, and profits have risen even faster than revenue, which suggests strong pricing power and tight cost control. Operating margins are high for an automaker and have improved over time, reflecting the luxury, low-volume nature of the brand rather than a typical car producer. Even during tougher periods earlier in the decade, earnings held up reasonably well and then accelerated as demand and pricing recovered. Overall, the profitability profile looks more like a luxury goods company than a cyclical mass-market auto maker.

Balance Sheet

Balance Sheet The balance sheet has strengthened over the past five years. Total assets and shareholders’ equity have grown steadily, showing that the company is building intrinsic value over time. Cash balances are healthy and have generally trended upward, giving Ferrari financial flexibility. Debt has also increased, but not in a way that appears alarming when set against growing earnings, cash flow, and equity. The picture is of a company comfortable using some leverage, but from a position of strength, with a solid capital base and valuable brand-backed assets supporting it.

Cash Flow

Cash Flow Ferrari generates strong and consistent cash flow from its operations, which comfortably covers its investments in new models, technology, and facilities. Free cash flow has been positive and has grown over time, even while the company has continued to spend heavily on capital projects. The level of investment is significant but appears deliberate and aligned with long-term strategy rather than emergency spending. This pattern suggests Ferrari can both fund innovation and return capital to stakeholders over time, without stretching its finances. The main risk would be if future product bets or the electrification push required much larger investment without a matching payoff, but so far cash generation looks robust.

Competitive Edge

Competitive Edge Ferrari operates in a very narrow, ultra-luxury slice of the auto market, and its competitive position is unusually strong. The brand is iconic, deeply tied to racing heritage and performance, and supported by strict control of production volumes to keep cars scarce and desirable. This gives Ferrari rare pricing power and helps keep resale values high, reinforcing loyalty among affluent repeat buyers and collectors. High barriers to entry—capital needs, technology, and especially brand prestige—make it hard for newcomers to challenge Ferrari directly. Key risks include potential brand dilution if it drifts too far from its core identity, and regulatory or social pressure around high-emissions performance cars, but its clientele is relatively insulated from normal economic swings.

Innovation and R&D

Innovation and R&D Ferrari’s innovation strategy is tightly linked to its racing roots and its move into electrified performance. It continuously transfers Formula 1 know-how into road cars, especially in aerodynamics, hybrid systems, and chassis control. The company has already proven it can build high-performance hybrids and is preparing its first fully electric model, while maintaining traditional engines for customers who value them. The Purosangue shows Ferrari can expand into new body styles without abandoning its performance image. At the same time, deep personalization programs, heritage restoration, and exclusive track experiences turn ownership into an ongoing relationship, not just a one-time sale. The planned pace of new model launches and the shift toward hybrid and electric lineups suggest a proactive, not reactive, approach to the future of performance luxury.

Summary

Overall, Ferrari combines the financial characteristics of a high-end luxury brand with the engineering depth of a top-tier performance car maker. Revenue and profits have grown steadily, margins are strong, and cash generation comfortably supports heavy investment in technology and new models. The balance sheet looks solid, with ample cash and rising equity, even as the company makes meaningful use of debt. Strategically, Ferrari benefits from a powerful brand, tight control of supply, and extremely loyal customers, giving it a moat that few automotive peers can match. Looking ahead, the biggest variables are its execution on electrification, maintaining exclusivity while expanding its product range, and navigating regulatory and environmental pressures—all while preserving the emotional appeal that defines a Ferrari. The financials and strategy together point to a rare and resilient franchise, but one that still faces meaningful transition risks as the auto industry evolves.

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