Ferrari NV
MIL:RACE

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Ferrari NV Logo
Ferrari NV
MIL:RACE
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Price: 418.2 EUR 2.17% Market Closed
Market Cap: 81.1B EUR
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Intrinsic Value

The intrinsic value of one RACE stock under the Base Case scenario is 152.31 EUR. Compared to the current market price of 418.2 EUR, Ferrari NV is Overvalued by 64%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

RACE Intrinsic Value
152.31 EUR
Overvaluation 64%
Intrinsic Value
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Ferrari NV

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

Economic Moat
Ferrari NV

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Business Breakdown

Ferrari NV, established in 1939 by Enzo Ferrari, has evolved from a small racing division into one of the most prestigious names in the luxury automotive industry. Renowned for its high-performance sports cars and rich motorsport heritage, Ferrari operates under a business model that emphasizes exclusivity and craftsmanship. The brand's vehicles command premium prices, not only due to their exceptional engineering but also because of their limited production, which maintains a sense of desirability among affluent consumers. As an investor, understanding Ferrari’s clear commitment to innovation and sustainability—evident in its strategic push towards hybrid and electric models—underscores its...

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Ferrari NV

Current Assets 4.6B
Cash & Short-Term Investments 1.5B
Receivables 1.8B
Other Current Assets 1.2B
Non-Current Assets 4.4B
Long-Term Investments 75.3m
PP&E 1.8B
Intangibles 2.3B
Other Non-Current Assets 234.4m
Current Liabilities 2.1B
Accounts Payable 859.2m
Accrued Liabilities 146.4m
Other Current Liabilities 1.1B
Non-Current Liabilities 3.6B
Long-Term Debt 3.1B
Other Non-Current Liabilities 489.1m
Efficiency

Earnings Waterfall
Ferrari NV

Revenue
6.5B EUR
Cost of Revenue
-3.2B EUR
Gross Profit
3.2B EUR
Operating Expenses
-1.4B EUR
Operating Income
1.8B EUR
Other Expenses
-353.5m EUR
Net Income
1.4B EUR

Free Cash Flow Analysis
Ferrari NV

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

In Q3 2024, Ferrari reported a revenue of EUR 1.6 billion, marking a 7% increase year-over-year, alongside a robust EBIT of approximately EUR 470 million and an EBIT margin of 28.4%. Personalization contributed about 20% to revenue, enhancing profitability. The order book remains strong, fueled by the new F80 and 12Cilindri models, which are expected to bolster earnings through 2026. Looking ahead, the company maintains optimistic guidance for 2024, expecting EBIT above EUR 400 million in Q4 and industrial free cash flow up to EUR 950 million, although with a sequential decline due to rising expenses.

What is Earnings Call?
Fundamental Scores

RACE Profitability Score
Profitability Due Diligence

Ferrari NV's profitability score is 71/100. The higher the profitability score, the more profitable the company is.

Exceptional 3-Year Average ROE
Positive Gross Profit
Exceptional ROE
Positive Free Cash Flow
71/100
Profitability
Score

Ferrari NV's profitability score is 71/100. The higher the profitability score, the more profitable the company is.

RACE Solvency Score
Solvency Due Diligence

Ferrari NV's solvency score is 76/100. The higher the solvency score, the more solvent the company is.

High Interest Coverage
High Altman Z-Score
Short-Term Solvency
Long-Term Solvency
76/100
Solvency
Score

Ferrari NV's solvency score is 76/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

RACE Price Targets Summary
Ferrari NV

Wall Street analysts forecast RACE stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for RACE is 447.49 EUR with a low forecast of 363.6 EUR and a high forecast of 552.38 EUR.

Lowest
Price Target
363.6 EUR
13% Downside
Average
Price Target
447.49 EUR
7% Upside
Highest
Price Target
552.38 EUR
32% Upside
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Dividends

Dividend Yield
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Dividend Per Share
N/A
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Dividend Safety Score
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0
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Shareholder Yield

Current shareholder yield for RACE is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

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RACE News

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Profile

Ferrari NV Logo
Ferrari NV

Country

Italy

Industry

Automobiles

Market Cap

81.1B EUR

Dividend Yield

0.58%

Description

Ferrari NV is a holding company, which engages in the design, engineering, production, and sale of luxury sports cars. The company is headquartered in Maranello, Modena and currently employs 4,609 full-time employees. The company went IPO on 2016-01-04. The company operates under the Ferrari brand. Its sports cars portfolio includes, among others, F12berlinetta, FF, Ferrari 488 GTB, 488 Spider, 458 Speciale, Ferrari California T, F12tdf and LaFerrari. The firm also offers financing services through Ferrari Financial Services. The company also produces limited series and one-off cars. The firm divides its regional markets in EMEA (Europe, the Middle East, India and Africa), Americas, Greater China and Rest of APAC (Asia-Pacific region, excluding Greater China) and is active in over 60 markets worldwide through a network of authorized dealers.

Contact

MODENA
Maranello
Via Abetone Inferiore No. 4
corporate.ferrari.com

IPO

2016-01-04

Employees

4 609

Officers

Executive Chairman
Mr. John Jacob Philip Elkann
CEO & Executive Director
Mr. Benedetto Vigna
Chief Financial Officer
Mr. Antonio Picca Piccon
Chief Technologies & Infrastructures Officer
Mr. Davide Abate
Head of Investor Relations
Ms. Nicoletta Russo
General Counsel
Mr. Carlo Daneo
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Chief Internal Audit, Risk and Compliance Officer
Mr. Marco Lovati
Chief Communications Officer
Ms. Francesca Montini
Chief Marketing & Commercial Officer
Mr. Enrico Galliera
Chief Human Resources Officer
Mr. Michele Antoniazzi
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See Also

Discover More
What is the Intrinsic Value of one RACE stock?

The intrinsic value of one RACE stock under the Base Case scenario is 152.31 EUR.

Is RACE stock undervalued or overvalued?

Compared to the current market price of 418.2 EUR, Ferrari NV is Overvalued by 64%.

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