RACE logo
Ferrari N.V.
RACE
478.76 (-0.05%) 0.26
85.32(B)
Consumer Discretionary
Automobiles
Ferrari N.V. through its subsidiaries engages in design engineering production and sale of luxury performance sports cars worldwide. The company offers sports track one-off and road cars as well as supercars. It also provides spare parts and engines as well as after sales repair maintenance and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods. In addition the company operates Ferrari museums in Modena and Maranello; Il Cavallino restaurant in Maranello; and theme parks in Abu Dhabi and Spain. Further it provides direct or indirect finance and leasing services; range of financial and ancillary services; special financing arrangements; and operates franchised and owned Ferrari stores. The company was founded in 1947 and is headquartered in Maranello Italy.
My Holdings:
(?% ownership)
Shares:
Cost basis:
Market cap:$85.32(B)
EV:$86.98(B)
Total Equity:$3.87(B)
Div. yield:0.67%
P/S:11.53
P/E:50.18
P/FCF:44.83
P/B:22.09
EPS:$9.5
FCF/share:$10.7
Dividend/share:$3.2
Book value/share:$21.7
ROIC:24.6%
ROA:17.0%
ROE:46.0%

RACE Valuation & Target Price

  Current Price
478.76
PE Valuation
N/A
PEvaluation is not available for RACE.
Analyst targets
N/A
No analyst estimates for RACE.
DCF
N/A
Adjust your assumptions to reach a valid valuation.
DCF (exit mult.)
N/A
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Future P/E
N/A
Adjust your assumptions to reach a valid valuation.
Peter Lynch FV
N/A
Adjust your assumptions to reach a valid valuation.
Graham No.
N/A
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DDM
N/A
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PEvaluation

66% overvalued
Low
$124
Mid
$165
High
$206
Current price
$479
Fair P/E
Margin of safety
Shares outstan...ROICRevenue growthDebt/FCFAssets/Liabili...
Economic moat: Very wide

Analyst Price Targets

N/A
No analyst price targets
Strong Buy2
Buy3
Hold7
Sell1
Strong Sell0

Estimated EPS

LowAvgHigh#
FY+19.510.110.612
FY+29.911.412.511
FY+312.012.913.78
FY+414.214.414.62
FY+513.214.215.22

Discounted Cash Flow

Forecast years
Terminal Growth Rate
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Discounted Cash Flow (exit mult.)

Forecast years
Exit FCF Multiple
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Future P/E Valuation

Projection Years
Base Revenue
Revenue Growth Rate
Final Net Margin
Final P/E Ratio
Discount Rate

Peter Lynch Fair Value

Earnings Per Share
Growth Rate (*)

(*) Growth rate is capped between 0 and 25

Graham Formula

Earnings Per Share
Expected Growth Rate
Government Bond Rate

(*) Growth rate is capped to 25

Dividend Discount Model

Annual Dividend
First Stage Length (Years)
First Stage Growth Rate
Final Growth Rate
Discount Rate

(*) First stage rowth rate is capped to 20%

Based on 0 valuation methods, the average fair value estimate for RACE is $N/A (NaN% overvalued).

Valuations range from $1.7976931348623157e+308 (N/A) to $0.0 (N/A).

TTM Financials

Income (TTM)

RevenueGrossNet
Revenue$7.45(B)
Gross profit$3.76(B)
EBITDA$2.48(B)
Net income$1.71(B)
Gross margin50.5%
Operating margin28.9%
Net margin23.0%
Shares outstanding:178.20(M)

Balance sheet

Cash & ST inv.Other ST assetsLong term assetsCurrent liabilitiesLong term debtOther LT liabilitiesEquity
Total assets$10.72(B)
Current assets$5.73(B)
Total liabilities$6.86(B)
Current liabilities$2.90(B)
Cash & Short-term inv.$2.02(B)
Long-term debt$2.02(B)
Total intangibles$2.56(B)
PP&E$2.08(B)

Cash flow (TTM)

CFOCFICFF
FCF$1.90(B)
CapEx$-551.26(M)
Dividends paid$-475.95(M)
Stock issued$0
Stock repurchased$-939.57(M)
Stock-based comp.$26.02(M)
Debt issued$1.10(B)
Debt repaid$-441.11(M)

Per share data (TTM)

Price: $479
Revenue: $41.5 (11.5x | 8.7%) Gross profit: $21.1 (22.7x | 4.4%) Earnings: $9.54 (50.2x | 2.0%)
FCF: $10.7 (44.8x | 2.2%) Stock-based Comp.: $0.15 (3278.9x | 0.0%) Dividend: $3.23 (148.2x | 0.7%)
Total Assets: $60.2 (8.0x | 12.6%) Total Liabilities: $38.5 (12.4x | 8.0%) Book Value: $21.7 (22.1x | 4.5%) Cash & ST inv.: $11.4 (42.2x | 2.4%) Debt: $11.3 (42.2x | 2.4%)

Growth Estimates

Revenue

CAGR: 6.7%
FY+1FY+2FY+3FY+4FY+5
FY+1$8.12(B)
FY+2(+9.9%)$8.92(B)
FY+3(+7.4%)$9.58(B)
FY+4(+9.2%)$10.46(B)
FY+5(+0.5%)$10.51(B)

Net Income

CAGR: 7.5%
FY+1FY+2FY+3FY+4FY+5
FY+1$1.83(B)
FY+2(+12.6%)$2.06(B)
FY+3(+9.9%)$2.26(B)
FY+4(+10.1%)$2.49(B)
FY+5(-2.2%)$2.44(B)

EPS

CAGR: 8.9%
FY+1FY+2FY+3FY+4FY+5
FY+1$10.12
FY+2(+12.3%)$11.36
FY+3(+13.4%)$12.88
FY+4(+11.5%)$14.36
FY+5(-1.0%)$14.22

FCF per share

CAGR: 4.4%
FY+1FY+2FY+3
FY+1$16.43
FY+2(-9.9%)$14.81
FY+3(+21.0%)$17.92

Historical Financials

Showing limited histrical data. Access 10+ years of financials now! Upgrade
YearlyQuarterly
Income
FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024TTM5Y avg5Y CAGR
Revenue4.21(B)4.83(B)5.40(B)6.51(B)6.99(B)7.42(B)5.59(B)14%
COGS2.05(B)2.35(B)2.81(B)3.27(B)3.49(B)3.67(B)2.79(B)14%
Gross Profit2.16(B)2.47(B)2.59(B)3.24(B)3.50(B)3.75(B)2.79(B)13%
Total OpEx.1.27(B)1.27(B)1.30(B)1.49(B)1.54(B)1.60(B)1.37(B)5%
  R&D860.57(M)867.91(M)821.58(M)961.35(M)936.22(M)965.18(M)889.53(M)2%
  SG&A408.91(M)393.25(M)453.36(M)504.45(M)587.59(M)631.58(M)469.51(M)9%
Operating Income888.02(M)1.21(B)1.29(B)1.76(B)1.97(B)2.15(B)1.42(B)22%
Interest Expense-61.09(M)-26.47(M)-29.50(M)-22.50(M)-24.34(M)-28.63(M)-32.78(M)-21%
Interest Income1.37(M)1.78(M)4.40(M)28.15(M)32.97(M)33.26(M)13.73(M)121%
Pre-tax income811.48(M)1.18(B)1.25(B)1.75(B)1.98(B)2.13(B)1.39(B)25%
Income tax-70.75(M)-236.27(M)-252.62(M)-376.12(M)-380.15(M)-422.14(M)-263.18(M)52%
Net Income739.44(M)938.72(M)987.94(M)1.37(B)1.59(B)1.71(B)1.13(B)21%
Cash flow
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Stock-based Comp.FCFCFONet IncomeD&ACFFStock IssuedStock RepurchasedDebt IssuedDebt RepaidDividend PaidCFIAcquisitionsDivestituresCapital Expenditures
Balance sheet
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Total AssetsTotal LiabilitiesCurrent assetsCash and EquivalentsShort-term investmentsInventoriesReceivablesNon-current assetsNet PP&EIntangible AssetsGoodwillCurrent liabilitiesAccounts payableNon-current liabilitiesLong-Term DebtTotal Equity
Per share data
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
EPS (Basic)FCF/ShareDividend/ShareEPS (Diluted)Book value/ShareCash & ST inv./ShareDebt/Share
Ratios
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
P/EP/SEV/EarningsP/FCFP/BEV/FCFDebt/EquityPayout ratio
Margins
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Net Income MarginOperating MarginGross MarginEBITDA MarginFCF Margin
Returns
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
ROICROAROCEROE
Shares outstanding
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Shares (Basic)Shares (Diluted)
Market Cap.
FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024
Market Cap.

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Ownership

Major holders

Insiders: 30.49%
Institutions: 41.26%
Other: 28.25%

Institutional ownership

2.83% Vanguard Group Inc2.58% BAILLIE GIFFORD & CO2.00% Bank of America Corpor...1.57% Amundi1.34% Bank of Italy1.22% Goldman Sachs Group In...1.13% JPMORGAN CHASE & CO1.02% Price (T.Rowe) Associa...0.99% Alliancebernstein L.P.0.94% Jennison Associates LL...25.64% Others

Insider transactions

Show:
Buys
Sells
Grants
DateSharesTotal ($)Price ($)NameTitle

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