Ferrari NV (RACE) financial statements

Consumer Cyclical · Auto Manufacturers · Market cap $68.0B

Ferrari NV reported revenue of 7.1B EUR in fiscal 2025, up 9.7% a year over 9 years.

Net income was 1.6B EUR and the operating margin 29.5%, against 19.2% in 2016.

Free cash flow was 1.4B EUR, and the company returned 532M EUR in dividends and 785M EUR in net buybacks.

The diluted share count fell 6% over the period (buybacks).

Revenue and free cash flow

Fiscal years, $ billions (EUR).

Embed this chart

Free to use in articles and newsletters with the source line. Paste this HTML:

<iframe src="https://investingly.io/embed/RACE/financials" width="100%" height="330" style="border:0;max-width:680px" title="Ferrari NV revenue and free cash flow" loading="lazy"></iframe>
<p style="font-size:13px">Source: <a href="https://investingly.io/stocks/RACE/financials">Ferrari NV financials</a> on Investingly</p>

Income statement

Fiscal years, in EUR, from Ferrari NV's 10-K filings with the SEC.

Fiscal year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	3.1B EUR	3.4B EUR	3.4B EUR	3.8B EUR	3.5B EUR	4.3B EUR	5.1B EUR	6.0B EUR	6.7B EUR	7.1B EUR
Cost of revenue	1.6B EUR	1.7B EUR	1.6B EUR	1.8B EUR	1.7B EUR	2.1B EUR	2.6B EUR	3.0B EUR	3.3B EUR	3.5B EUR
Gross profit	1.5B EUR	1.8B EUR	1.8B EUR	2.0B EUR	1.8B EUR	2.2B EUR	2.4B EUR	3.0B EUR	3.3B EUR	3.7B EUR
Research and development	614M EUR	657M EUR	643M EUR	699M EUR	707M EUR	768M EUR	776M EUR	882M EUR	894M EUR	919M EUR
Selling, general and admin	295M EUR	329M EUR	327M EUR	343M EUR	336M EUR	348M EUR	428M EUR	463M EUR	561M EUR	642M EUR
Operating income	595M EUR	775M EUR	827M EUR	917M EUR	716M EUR	1.1B EUR	1.2B EUR	1.6B EUR	1.9B EUR	2.1B EUR
Interest expense	21M EUR	31M EUR	34M EUR	45M EUR	37M EUR	17M EUR	27M EUR	61M EUR	88M EUR	99M EUR
Pre-tax income	567M EUR	746M EUR	803M EUR	875M EUR	667M EUR	1.0B EUR	1.2B EUR	1.6B EUR	1.9B EUR	2.1B EUR
Income tax	168M EUR	209M EUR	16M EUR	177M EUR	58M EUR	209M EUR	238M EUR	345M EUR	363M EUR	464M EUR
Net income	399M EUR	535M EUR	785M EUR	696M EUR	608M EUR	831M EUR	933M EUR	1.3B EUR	1.5B EUR	1.6B EUR
EPS (diluted)	2.11 EUR	2.82 EUR	4.14 EUR	3.71 EUR	3.28 EUR	4.50 EUR	5.09 EUR	6.90 EUR	8.46 EUR	8.96 EUR
Diluted shares	189M	190M	189M	188M	185M	185M	183M	182M	180M	178M
Gross margin	49.1%	51.7%	52.6%	52.1%	51.3%	51.3%	48.0%	49.8%	50.1%	51.7%
Operating margin	19.2%	22.7%	24.2%	24.4%	20.7%	25.2%	24.1%	27.1%	28.3%	29.5%
Net margin	12.8%	15.7%	22.9%	18.5%	17.6%	19.5%	18.3%	21.0%	22.8%	22.3%

Balance sheet

Fiscal years, in EUR, from Ferrari NV's 10-K filings with the SEC.

Fiscal year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Cash and short-term investments	458M EUR	648M EUR	794M EUR	898M EUR	1.4B EUR	1.3B EUR	1.4B EUR	1.1B EUR	1.7B EUR	1.5B EUR
Inventory	324M EUR	394M EUR	391M EUR	420M EUR	461M EUR	541M EUR	675M EUR	949M EUR	1.1B EUR	1.1B EUR
Total current assets	1.9B EUR	2.1B EUR	2.5B EUR	2.6B EUR	3.1B EUR	3.4B EUR	4.0B EUR	4.0B EUR	5.0B EUR	4.8B EUR
Property, plant and equipment	669M EUR	710M EUR	851M EUR	1.1B EUR	1.2B EUR	1.4B EUR	1.5B EUR	1.6B EUR	1.8B EUR	2.1B EUR
Goodwill	785M EUR	785M EUR	785M EUR	785M EUR	785M EUR	785M EUR	785M EUR	785M EUR	785M EUR	785M EUR
Total assets	3.8B EUR	4.1B EUR	4.9B EUR	5.4B EUR	6.3B EUR	6.9B EUR	7.8B EUR	8.1B EUR	9.5B EUR	9.6B EUR
Total liabilities	3.5B EUR	3.4B EUR	3.5B EUR	4.0B EUR	4.5B EUR	4.7B EUR	5.2B EUR	5.0B EUR	6.0B EUR	5.7B EUR
Shareholders' equity	325M EUR	779M EUR	1.3B EUR	1.5B EUR	1.8B EUR	2.2B EUR	2.6B EUR	3.1B EUR	3.5B EUR	3.9B EUR
Net debt	-458M EUR	-648M EUR	-794M EUR	-898M EUR	-1.4B EUR	-1.3B EUR	-1.4B EUR	-1.1B EUR	-1.7B EUR	-1.5B EUR

Cash flow

Fiscal years, in EUR, from Ferrari NV's 10-K filings with the SEC.

Fiscal year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating cash flow	1.0B EUR	663M EUR	934M EUR	1.3B EUR	838M EUR	1.3B EUR	1.4B EUR	1.7B EUR	1.9B EUR	2.3B EUR
Capital spending	342M EUR	391M EUR	638M EUR	706M EUR	709M EUR	737M EUR	805M EUR	869M EUR	989M EUR	943M EUR
Free cash flow	663M EUR	271M EUR	296M EUR	600M EUR	129M EUR	546M EUR	599M EUR	848M EUR	938M EUR	1.4B EUR
Dividends paid	0 EUR	0 EUR	133M EUR	193M EUR	208M EUR	160M EUR	250M EUR	329M EUR	440M EUR	532M EUR
Share buybacks (net)	—	—	-100M EUR	-387M EUR	-130M EUR	-231M EUR	-397M EUR	-461M EUR	-581M EUR	-785M EUR
Net borrowing	—	36M EUR	83M EUR	80M EUR	681M EUR	-187M EUR	95M EUR	-315M EUR	701M EUR	-348M EUR
Free cash flow margin	21.4%	7.9%	8.6%	15.9%	3.7%	12.8%	11.8%	14.2%	14.0%	19.7%
Dividends per share	—	—	0.70 EUR	1.03 EUR	1.12 EUR	0.87 EUR	1.36 EUR	1.81 EUR	2.44 EUR	2.98 EUR

Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for RACE.

Open RACE in Investingly

Questions

What was Ferrari NV's revenue in 2025?

7.1B EUR in fiscal 2025, from its 10-K filing.

How much free cash flow does Ferrari NV generate?

1.4B EUR in fiscal 2025 (operating cash flow minus capital spending).

From Ferrari NV's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.