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FERRARI NV (RACE) Stock Fundamental Analysis

NYSE:RACE - New York Stock Exchange, Inc. - NL0011585146 - Common Stock - Currency: USD

460.55  -3.88 (-0.84%)

After market: 460.55 0 (0%)

Fundamental Rating

7

Taking everything into account, RACE scores 7 out of 10 in our fundamental rating. RACE was compared to 37 industry peers in the Automobiles industry. RACE gets an excellent profitability rating and is at the same time showing great financial health properties. RACE has a decent growth rate and is not valued too expensively. This makes RACE very considerable for quality investing!


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

In the past year RACE was profitable.
In the past year RACE had a positive cash flow from operations.
Each year in the past 5 years RACE has been profitable.
RACE had a positive operating cash flow in each of the past 5 years.
RACE Yearly Net Income VS EBIT VS OCF VS FCFRACE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

1.2 Ratios

RACE has a better Return On Assets (16.52%) than 100.00% of its industry peers.
Looking at the Return On Equity, with a value of 45.01%, RACE belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 22.10%, RACE belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for RACE is significantly above the industry average of 5.32%.
The last Return On Invested Capital (22.10%) for RACE is above the 3 year average (19.26%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 16.52%
ROE 45.01%
ROIC 22.1%
ROA(3y)14.53%
ROA(5y)13.08%
ROE(3y)39.98%
ROE(5y)38.33%
ROIC(3y)19.26%
ROIC(5y)17.08%
RACE Yearly ROA, ROE, ROICRACE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -200 -400 -600 -800 -1K

1.3 Margins

RACE has a Profit Margin of 22.91%. This is amongst the best in the industry. RACE outperforms 100.00% of its industry peers.
In the last couple of years the Profit Margin of RACE has grown nicely.
RACE's Operating Margin of 29.02% is amongst the best of the industry. RACE outperforms 100.00% of its industry peers.
RACE's Operating Margin has improved in the last couple of years.
With an excellent Gross Margin value of 51.20%, RACE belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
In the last couple of years the Gross Margin of RACE has remained more or less at the same level.
Industry RankSector Rank
OM 29.02%
PM (TTM) 22.91%
GM 51.2%
OM growth 3Y4.01%
OM growth 5Y3.02%
PM growth 3Y5.43%
PM growth 5Y4.29%
GM growth 3Y-0.75%
GM growth 5Y-0.76%
RACE Yearly Profit, Operating, Gross MarginsRACE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40 50

8

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), RACE is creating value.
The number of shares outstanding for RACE has been reduced compared to 1 year ago.
RACE has less shares outstanding than it did 5 years ago.
RACE has a worse debt/assets ratio than last year.
RACE Yearly Shares OutstandingRACE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
RACE Yearly Total Debt VS Total AssetsRACE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

An Altman-Z score of 9.73 indicates that RACE is not in any danger for bankruptcy at the moment.
RACE has a Altman-Z score of 9.73. This is amongst the best in the industry. RACE outperforms 100.00% of its industry peers.
The Debt to FCF ratio of RACE is 2.32, which is a good value as it means it would take RACE, 2.32 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 2.32, RACE belongs to the top of the industry, outperforming 91.89% of the companies in the same industry.
RACE has a Debt/Equity ratio of 0.89. This is a neutral value indicating RACE is somewhat dependend on debt financing.
RACE's Debt to Equity ratio of 0.89 is in line compared to the rest of the industry. RACE outperforms 45.95% of its industry peers.
Even though the debt/equity ratio score it not favorable for RACE, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.89
Debt/FCF 2.32
Altman-Z 9.73
ROIC/WACC2.79
WACC7.93%
RACE Yearly LT Debt VS Equity VS FCFRACE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

2.3 Liquidity

RACE has a Current Ratio of 2.08. This indicates that RACE is financially healthy and has no problem in meeting its short term obligations.
RACE's Current ratio of 2.08 is amongst the best of the industry. RACE outperforms 81.08% of its industry peers.
A Quick Ratio of 1.61 indicates that RACE should not have too much problems paying its short term obligations.
RACE has a Quick ratio of 1.61. This is amongst the best in the industry. RACE outperforms 83.78% of its industry peers.
Industry RankSector Rank
Current Ratio 2.08
Quick Ratio 1.61
RACE Yearly Current Assets VS Current LiabilitesRACE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

5

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 16.02% over the past year.
The Earnings Per Share has been growing by 17.92% on average over the past years. This is quite good.
Looking at the last year, RACE shows a quite strong growth in Revenue. The Revenue has grown by 9.34% in the last year.
RACE shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 12.13% yearly.
EPS 1Y (TTM)16.02%
EPS 3Y23.51%
EPS 5Y17.92%
EPS Q2Q%4.37%
Revenue 1Y (TTM)9.34%
Revenue growth 3Y16.06%
Revenue growth 5Y12.13%
Sales Q2Q%4.38%

3.2 Future

Based on estimates for the next years, RACE will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.11% on average per year.
Based on estimates for the next years, RACE will show a small growth in Revenue. The Revenue will grow by 6.76% on average per year.
EPS Next Y8.15%
EPS Next 2Y11.32%
EPS Next 3Y10.77%
EPS Next 5Y8.11%
Revenue Next Year8.74%
Revenue Next 2Y9.67%
Revenue Next 3Y8.86%
Revenue Next 5Y6.76%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
RACE Yearly Revenue VS EstimatesRACE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2B 4B 6B 8B 10B
RACE Yearly EPS VS EstimatesRACE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 5 10 15

4

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 44.24, RACE can be considered very expensive at the moment.
78.38% of the companies in the same industry are more expensive than RACE, based on the Price/Earnings ratio.
RACE's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.84.
RACE is valuated quite expensively with a Price/Forward Earnings ratio of 37.59.
70.27% of the companies in the same industry are more expensive than RACE, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 35.29, RACE is valued at the same level.
Industry RankSector Rank
PE 44.24
Fwd PE 37.59
RACE Price Earnings VS Forward Price EarningsRACE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

72.97% of the companies in the same industry are more expensive than RACE, based on the Enterprise Value to EBITDA ratio.
83.78% of the companies in the same industry are more expensive than RACE, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 56.22
EV/EBITDA 29.2
RACE Per share dataRACE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
RACE has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)5.43
PEG (5Y)2.47
EPS Next 2Y11.32%
EPS Next 3Y10.77%

5

5. Dividend

5.1 Amount

RACE has a yearly dividend return of 0.75%, which is pretty low.
Compared to an average industry Dividend Yield of 3.54, RACE pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.36, RACE's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.75%

5.2 History

The dividend of RACE is nicely growing with an annual growth rate of 18.29%!
RACE has paid a dividend for at least 10 years, which is a reliable track record.
RACE has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)18.29%
Div Incr Years4
Div Non Decr Years4
RACE Yearly Dividends per shareRACE Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

RACE pays out 32.88% of its income as dividend. This is a sustainable payout ratio.
The dividend of RACE is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP32.88%
EPS Next 2Y11.32%
EPS Next 3Y10.77%
RACE Yearly Income VS Free CF VS DividendRACE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B
RACE Dividend Payout.RACE Dividend Payout, showing the Payout Ratio.RACE Dividend Payout.PayoutRetained Earnings

FERRARI NV

NYSE:RACE (8/15/2025, 8:04:00 PM)

After market: 460.55 0 (0%)

460.55

-3.88 (-0.84%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupAutomobiles & Components
GICS IndustryAutomobiles
Earnings (Last)07-31 2025-07-31/dmh
Earnings (Next)11-04 2025-11-04/bmo
Inst Owners41.52%
Inst Owner Change-4.23%
Ins Owners0.03%
Ins Owner ChangeN/A
Market Cap89.31B
Analysts74.55
Price Target539.9 (17.23%)
Short Float %1.72%
Short Ratio7.14
Dividend
Industry RankSector Rank
Dividend Yield 0.75%
Yearly Dividend2.12
Dividend Growth(5Y)18.29%
DP32.88%
Div Incr Years4
Div Non Decr Years4
Ex-Date04-22 2025-04-22 (2.986)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-1.75%
Min EPS beat(2)-1.9%
Max EPS beat(2)-1.61%
EPS beat(4)2
Avg EPS beat(4)2.94%
Min EPS beat(4)-1.9%
Max EPS beat(4)11.77%
EPS beat(8)6
Avg EPS beat(8)4.89%
EPS beat(12)9
Avg EPS beat(12)4.24%
EPS beat(16)13
Avg EPS beat(16)4.56%
Revenue beat(2)0
Avg Revenue beat(2)-2.67%
Min Revenue beat(2)-4.23%
Max Revenue beat(2)-1.1%
Revenue beat(4)1
Avg Revenue beat(4)-0.98%
Min Revenue beat(4)-4.23%
Max Revenue beat(4)2.78%
Revenue beat(8)3
Avg Revenue beat(8)0.1%
Revenue beat(12)6
Avg Revenue beat(12)1.03%
Revenue beat(16)7
Avg Revenue beat(16)0.53%
PT rev (1m)0.46%
PT rev (3m)1.49%
EPS NQ rev (1m)-3.12%
EPS NQ rev (3m)-5.71%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)-1.47%
Revenue NQ rev (3m)-5.02%
Revenue NY rev (1m)-0.03%
Revenue NY rev (3m)-0.03%
Valuation
Industry RankSector Rank
PE 44.24
Fwd PE 37.59
P/S 10.98
P/FCF 56.22
P/OCF 32.54
P/B 21.57
P/tB 66.86
EV/EBITDA 29.2
EPS(TTM)10.41
EY2.26%
EPS(NY)12.25
Fwd EY2.66%
FCF(TTM)8.19
FCFY1.78%
OCF(TTM)14.15
OCFY3.07%
SpS41.94
BVpS21.35
TBVpS6.89
PEG (NY)5.43
PEG (5Y)2.47
Profitability
Industry RankSector Rank
ROA 16.52%
ROE 45.01%
ROCE 27.75%
ROIC 22.1%
ROICexc 27.97%
ROICexgc 47.99%
OM 29.02%
PM (TTM) 22.91%
GM 51.2%
FCFM 19.53%
ROA(3y)14.53%
ROA(5y)13.08%
ROE(3y)39.98%
ROE(5y)38.33%
ROIC(3y)19.26%
ROIC(5y)17.08%
ROICexc(3y)24.63%
ROICexc(5y)22.3%
ROICexgc(3y)43.96%
ROICexgc(5y)41.2%
ROCE(3y)24.18%
ROCE(5y)21.45%
ROICexcg growth 3Y1.86%
ROICexcg growth 5Y-2.51%
ROICexc growth 3Y6.8%
ROICexc growth 5Y2.03%
OM growth 3Y4.01%
OM growth 5Y3.02%
PM growth 3Y5.43%
PM growth 5Y4.29%
GM growth 3Y-0.75%
GM growth 5Y-0.76%
F-Score8
Asset Turnover0.72
Health
Industry RankSector Rank
Debt/Equity 0.89
Debt/FCF 2.32
Debt/EBITDA 1.18
Cap/Depr 151.4%
Cap/Sales 14.21%
Interest Coverage 25.44
Cash Conversion 87.87%
Profit Quality 85.25%
Current Ratio 2.08
Quick Ratio 1.61
Altman-Z 9.73
F-Score8
WACC7.93%
ROIC/WACC2.79
Cap/Depr(3y)142.28%
Cap/Depr(5y)150.94%
Cap/Sales(3y)15.05%
Cap/Sales(5y)16.58%
Profit Quality(3y)64.5%
Profit Quality(5y)56.09%
High Growth Momentum
Growth
EPS 1Y (TTM)16.02%
EPS 3Y23.51%
EPS 5Y17.92%
EPS Q2Q%4.37%
EPS Next Y8.15%
EPS Next 2Y11.32%
EPS Next 3Y10.77%
EPS Next 5Y8.11%
Revenue 1Y (TTM)9.34%
Revenue growth 3Y16.06%
Revenue growth 5Y12.13%
Sales Q2Q%4.38%
Revenue Next Year8.74%
Revenue Next 2Y9.67%
Revenue Next 3Y8.86%
Revenue Next 5Y6.76%
EBIT growth 1Y15.89%
EBIT growth 3Y20.71%
EBIT growth 5Y15.51%
EBIT Next Year40.75%
EBIT Next 3Y21.74%
EBIT Next 5Y14.69%
FCF growth 1Y103.88%
FCF growth 3Y19.78%
FCF growth 5Y9.32%
OCF growth 1Y54.15%
OCF growth 3Y14.52%
OCF growth 5Y8.09%